XTRA:BIO3

Stock Analysis Report

Executive Summary

Biotest Aktiengesellschaft develops, manufactures, and sells biological and biotechnological pharmaceutical products in Germany and internationally.


Snowflake Analysis

Imperfect balance sheet and overvalued.


Similar Companies

Share Price & News

How has Biotest's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BIO3 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.0%

BIO3

5.1%

DE Biotechs

0.2%

DE Market


1 Year Return

-14.0%

BIO3

7.6%

DE Biotechs

13.6%

DE Market

Return vs Industry: BIO3 underperformed the German Biotechs industry which returned 7.6% over the past year.

Return vs Market: BIO3 underperformed the German Market which returned 13.6% over the past year.


Shareholder returns

BIO3IndustryMarket
7 Day1.0%5.1%0.2%
30 Day-6.5%13.4%-0.08%
90 Day-8.0%6.2%6.0%
1 Year-13.9%-14.0%7.8%7.6%17.1%13.6%
3 Year55.0%54.0%78.8%76.6%19.6%9.0%
5 Year-35.9%-37.0%15.8%13.5%38.9%20.0%

Price Volatility Vs. Market

How volatile is Biotest's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Biotest undervalued compared to its fair value and its price relative to the market?

1.55x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: BIO3 (€20.2) is trading above our estimate of fair value (€0.43)

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


Price To Earnings Ratio

PE vs Industry: BIO3 is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: BIO3 is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BIO3 is good value based on its PB Ratio (1.5x) compared to the DE Biotechs industry average (3.5x).


Next Steps

Future Growth

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

72.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BIO3 is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: BIO3 is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: BIO3 is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: BIO3's revenue (7.8% per year) is forecast to grow faster than the German market (4.9% 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 (0%).


Next Steps

Past Performance

How has Biotest performed over the past 5 years?

-19.5%

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 -19.5% 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 (5.4%).


Return on Equity

High ROE: BIO3 has a negative Return on Equity (-1.87%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Biotest's financial position?


Financial Position Analysis

Short Term Liabilities: BIO3's short term assets (€508.5M) exceed its short term liabilities (€101.1M).

Long Term Liabilities: BIO3's short term assets (€508.5M) exceed its long term liabilities (€498.2M).


Debt to Equity History and Analysis

Debt Level: BIO3's debt to equity ratio (73.3%) is considered high.

Reducing Debt: BIO3's debt to equity ratio has increased from 51.1% to 73.3% over the past 5 years.

Debt Coverage: BIO3's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if BIO3's interest payments on its debt are well covered by EBIT.


Balance Sheet

Inventory Level: BIO3 has a high level of physical assets or inventory.

Debt Coverage by Assets: BIO3's debt is covered by short term assets (assets are 1.4x debt).


Next Steps

Dividend

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

0.20%

Current Dividend Yield


Dividend Yield vs Market

company0.2%marketbottom25%1.3%markettop25%3.6%industryaverage1.1%forecastin3Years0.2%

Current dividend yield vs market & industry

Notable Dividend: BIO3's dividend (0.2%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.34%).

High Dividend: BIO3's dividend (0.2%) is low compared to the top 25% of dividend payers in the German market (3.63%).


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.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BIO3's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

What is the CEO of Biotest's salary, the management and board of directors tenure and is there insider trading?

4.3yrs

Average management tenure


CEO

Michael Ramroth (58yo)

0.6yrs

Tenure

€1,012,000

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 ($USD1.13M) is about average for companies of similar size in the German market ($USD1.22M).

Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.


Management Age and Tenure

4.3yrs

Average Tenure

Experienced Management: BIO3's management team is considered experienced (4.3 years average tenure).


Board Age and Tenure

8.3yrs

Average Tenure

Experienced Board: BIO3's board of directors are considered experienced (8.3 years average tenure).


Insider Trading

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.


Management Team

  • Michael Ramroth (58yo)

    Chairman of the Management Board

    • Tenure: 0.6yrs
    • Compensation: €1.01m
  • Peter Seith

    Head of Quality Operations

    • Tenure: 0yrs
  • Georg Floß

    COO & Member of the Board of Management

    • Tenure: 6.9yrs
    • Compensation: €888.00k
  • Monika Buttkereit

    Head of Investor Relations

    • Tenure: 0yrs
  • Christina Erb

    Head of Corporate HR

    • Tenure: 4.3yrs
  • Katrin Bernöster

    Head of the Project Management Organisation

    • Tenure: 0yrs
  • Jörg Schüttrumpf

    Head of Research & Development

    • Tenure: 0yrs
  • Wolfgang Möller

    Head of Development - Plasma Protein

    • Tenure: 0yrs
  • Hermann Keuper

    Senior Vice President of Manufacturing

    • Tenure: 0yrs

Board Members

  • Kerstin Birkhahn

    Member of Supervisory Board

    • Tenure: 9.7yrs
    • Compensation: €34.00k
  • Rolf Hoffmann (60yo)

    Chairman of the Supervisory Board

    • Tenure: 0yrs
  • Cathrin Schleussner

    Member of the Supervisory Board

    • Tenure: 8.4yrs
    • Compensation: €37.00k
  • Jurgen Heilmann

    Member of Supervisory Board

    • Tenure: 8.3yrs
    • Compensation: €34.00k
  • Tan Yang

    Deputy Chairman of Supervisory Board

    • Tenure: 0yrs
    • Compensation: €50.00k
  • Christine Kreidl

    Supervisory Board member

    • Tenure: 2.3yrs
    • Compensation: €47.00k

Company Information

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


Key Information

  • Name: Biotest Aktiengesellschaft
  • Ticker: BIO3
  • Exchange: XTRA
  • Founded: 1946
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: €786.483m
  • Shares outstanding: 39.57m
  • Website: https://www.biotest.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
0N70LSE (London Stock Exchange)YesPreference SharesGBEURJan 1992
BIO3XTRA (XETRA Trading Platform)YesPreference SharesDEEURJan 1992
BIO3DB (Deutsche Boerse AG)YesPreference SharesDEEURJan 1992
BIES.FOTCPK (Pink Sheets LLC)YesPreference SharesUSUSDJan 1992
BIO3DBATS-CHIXE (BATS 'Chi-X Europe')YesPreference SharesGBEURJan 1992
BIO3SWX (SIX Swiss Exchange)YesPreference SharesCHCHFJan 1992
BIO3WBAG (Wiener Boerse AG)YesPreference SharesATEURJan 1992
0N6ZLSE (London Stock Exchange)Ordinary SharesGBEURJun 1996
BIOXTRA (XETRA Trading Platform)Ordinary SharesDEEURJun 1996
BIODB (Deutsche Boerse AG)Ordinary SharesDEEURJun 1996
BIODBATS-CHIXE (BATS 'Chi-X Europe')Ordinary SharesGBEURJun 1996

Biography

Biotest Aktiengesellschaft develops, manufactures, and sells biological and biotechnological pharmaceutical products in Germany and internationally. It operates through Therapy, Plasma & Services, and Othe ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/12 21:00
End of Day Share Price2019/12/12 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.