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BIO3

Biotest XTRA:BIO3 Stock Report

Last Price

€34.70

Market Cap

€1.5b

7D

-2.0%

1Y

3.0%

Updated

27 Jun, 2022

Data

Company Financials +
BIO3 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance0/6
Financial Health3/6
Dividends0/6

BIO3 Stock Overview

Biotest Aktiengesellschaft develops, manufactures, and sells biological medicines in Germany and internationally.

Rewards

Earnings are forecast to grow 104.11% per year

Risk Analysis

No risks detected for BIO3 from our risk checks.

Biotest Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Biotest
Historical stock prices
Current Share Price€34.70
52 Week High€44.50
52 Week Low€32.10
Beta0.46
1 Month Change-2.80%
3 Month Change-2.25%
1 Year Change2.97%
3 Year Change55.61%
5 Year Change57.01%
Change since IPO450.59%

Recent News & Updates

Shareholder Returns

BIO3DE BiotechsDE Market
7D-2.0%0.1%-0.5%
1Y3.0%-34.0%-21.1%

Return vs Industry: BIO3 exceeded the German Biotechs industry which returned -34.4% over the past year.

Return vs Market: BIO3 exceeded the German Market which returned -22% over the past year.

Price Volatility

Is BIO3's price volatile compared to industry and market?
BIO3 volatility
BIO3 Average Weekly Movement2.7%
Biotechs Industry Average Movement6.9%
Market Average Movement5.6%
10% most volatile stocks in DE Market10.2%
10% least volatile stocks in DE Market2.9%

Stable Share Price: BIO3 is less volatile than 75% of German stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: BIO3's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19461,967Michael Ramrothhttps://www.biotest.com

Biotest Aktiengesellschaft develops, manufactures, and sells biological medicines in Germany and internationally. It operates through Therapy, Plasma & Services, and Other segments. The company offers its products in hematology, clinical immunology, and intensive care medicine areas.

Biotest Fundamentals Summary

How do Biotest's earnings and revenue compare to its market cap?
BIO3 fundamental statistics
Market Cap€1.53b
Earnings (TTM)-€54.20m
Revenue (TTM)€511.50m

2.7x

P/S Ratio

-25.3x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
BIO3 income statement (TTM)
Revenue€511.50m
Cost of Revenue€427.60m
Gross Profit€83.90m
Other Expenses€138.10m
Earnings-€54.20m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 11, 2022

Earnings per share (EPS)-1.37
Gross Margin16.40%
Net Profit Margin-10.60%
Debt/Equity Ratio142.4%

How did BIO3 perform over the long term?

See historical performance and comparison

Dividends

0.1%

Current Dividend Yield

-3%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is BIO3 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BIO3?

Other financial metrics that can be useful for relative valuation.

BIO3 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue3.8x
Enterprise Value/EBITDA-96.2x
PEG Ration/a

Price to Sales Ratio vs Peers

How does BIO3's PS Ratio compare to its peers?

BIO3 PS Ratio vs Peers
The above table shows the PS ratio for BIO3 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average25.3x
FYB Formycon
23x33.8%€852.0m
MOR MorphoSys
4x29.7%€691.2m
HPHA Heidelberg Pharma
67.9x18.3%€163.0m
MDG1 Medigene
6.1x-16.1%€63.6m
BIO3 Biotest
2.7x7.8%€1.5b

Price-To-Sales vs Peers: BIO3 is good value based on its Price-To-Sales Ratio (2.7x) compared to the peer average (25.3x).


Price to Earnings Ratio vs Industry

How does BIO3's PE Ratio compare vs other companies in the European Biotechs Industry?

Price-To-Sales vs Industry: BIO3 is good value based on its Price-To-Sales Ratio (2.7x) compared to the German Biotechs industry average (4.7x)


Price to Sales Ratio vs Fair Ratio

What is BIO3's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BIO3 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.7x
Fair PS Ratio1.6x

Price-To-Sales vs Fair Ratio: BIO3 is expensive based on its Price-To-Sales Ratio (2.7x) compared to the estimated Fair Price-To-Sales Ratio (1.6x).


Share Price vs Fair Value

What is the Fair Price of BIO3 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BIO3 (€34.7) is trading above our estimate of fair value (€15.49)

Significantly Below Fair Value: BIO3 is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BIO3's PEG Ratio to determine if it is good value.


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Future Growth

How is Biotest forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


104.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BIO3 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (-0.05%).

Earnings vs Market: BIO3 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: BIO3 is expected to become profitable in the next 3 years.

Revenue vs Market: BIO3's revenue (7.8% per year) is forecast to grow faster than the German market (4.8% per year).

High Growth Revenue: BIO3's revenue (7.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BIO3's Return on Equity is forecast to be low in 3 years time (4.1%).


Discover growth companies

Past Performance

How has Biotest performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-21.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BIO3 is currently unprofitable.

Growing Profit Margin: BIO3 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BIO3 is unprofitable, and losses have increased over the past 5 years at a rate of 21.3% per year.

Accelerating Growth: Unable to compare BIO3's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BIO3 is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (-8.4%).


Return on Equity

High ROE: BIO3 has a negative Return on Equity (-14.45%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Biotest's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: BIO3's short term assets (€523.9M) exceed its short term liabilities (€114.9M).

Long Term Liabilities: BIO3's short term assets (€523.9M) do not cover its long term liabilities (€619.8M).


Debt to Equity History and Analysis

Debt Level: BIO3's net debt to equity ratio (111.6%) is considered high.

Reducing Debt: BIO3's debt to equity ratio has increased from 103.5% to 142.4% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable BIO3 has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: BIO3 is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 18.2% per year.


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Dividend

What is Biotest current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


0.11%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: BIO3's dividend (0.12%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.47%).

High Dividend: BIO3's dividend (0.12%) is low compared to the top 25% of dividend payers in the German market (4.53%).


Stability and Growth of Payments

Stable Dividend: BIO3 is not paying a notable dividend for the German market, therefore no need to check if payments are stable.

Growing Dividend: BIO3 is not paying a notable dividend for the German market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: BIO3 is not paying a notable dividend for the German market.


Cash Payout to Shareholders

Cash Flow Coverage: BIO3 is not paying a notable dividend for the German market.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

8.1yrs

Average management tenure


CEO

Michael Ramroth (59 yo)

18.33yrs

Tenure

€2,724,000

Compensation

Dr. Michael Ramroth serves as Chairman of the Management Board and CEO at Biotest Aktiengesellschaft since May 01, 2019. Dr. Ramroth serves as Chief Financial Officer at Biotest Aktiengesellschaft. He serv...


CEO Compensation Analysis

Compensation vs Market: Michael's total compensation ($USD2.89M) is above average for companies of similar size in the German market ($USD1.50M).

Compensation vs Earnings: Michael's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: BIO3's management team is seasoned and experienced (8.1 years average tenure).


Board Members

Experienced Board: BIO3's board of directors are considered experienced (3.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Biotest Aktiengesellschaft's employee growth, exchange listings and data sources


Key Information

  • Name: Biotest Aktiengesellschaft
  • Ticker: BIO3
  • Exchange: XTRA
  • Founded: 1946
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: €1.525b
  • Shares outstanding: 39.57m
  • Website: https://www.biotest.com

Number of Employees


Location

  • Biotest Aktiengesellschaft
  • Landsteinerstrasse 5
  • Dreieich
  • Hessen
  • 63303
  • Germany

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/27 00:00
End of Day Share Price2022/06/27 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.