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MorphoSys

XTRA:MOR
Snowflake Description

Excellent balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MOR
XTRA
€3B
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

MorphoSys AG, together with its subsidiaries, develops and commercializes antibodies and peptides for therapeutic applications in the United States. The last earnings update was 13 days ago. More info.


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MOR Share Price and Events
7 Day Returns
7.6%
XTRA:MOR
0.3%
DE Biotechs
-0.2%
DE Market
1 Year Returns
2.5%
XTRA:MOR
-8.2%
DE Biotechs
-10.3%
DE Market
MOR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MorphoSys (MOR) 7.6% 8.5% -2% 2.5% 96.7% 37.4%
DE Biotechs 0.3% 3.7% -1.8% -8.2% 58.9% 12.8%
DE Market -0.2% -2.4% 4% -10.3% 11.2% 10.8%
1 Year Return vs Industry and Market
  • MOR outperformed the Biotechs industry which returned -8.2% over the past year.
  • MOR outperformed the Market in Germany which returned -10.3% over the past year.
Price Volatility
MOR
Industry
5yr Volatility vs Market

MOR Value

 Is MorphoSys undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of MorphoSys to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for MorphoSys.

XTRA:MOR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for XTRA:MOR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.38
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.381 (1 + (1- 30%) (1.37%))
1.264
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.26
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.264 * 5.96%)
7.76%

Discounted Cash Flow Calculation for XTRA:MOR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for MorphoSys is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

XTRA:MOR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.76%)
2019 -103.15 Analyst x2 -95.72
2020 -87.35 Analyst x6 -75.22
2021 -67.53 Analyst x3 -53.96
2022 61.40 Analyst x1 45.53
2023 194.40 Analyst x1 133.76
2024 323.74 Est @ 66.53% 206.70
2025 474.73 Est @ 46.64% 281.27
2026 630.04 Est @ 32.72% 346.40
2027 774.77 Est @ 22.97% 395.28
2028 899.87 Est @ 16.15% 426.03
Present value of next 10 years cash flows €1,610.08
XTRA:MOR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €899.87 × (1 + 0.23%) ÷ (7.76% – 0.23%)
€11,968.06
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €11,968.06 ÷ (1 + 7.76%)10
€5,666.09
XTRA:MOR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,610.08 + €5,666.09
€7,276.16
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €7,276.16 / 31.58
€230.41
XTRA:MOR Discount to Share Price
Calculation Result
Value per share (EUR) From above. €230.41
Current discount Discount to share price of €93.30
= -1 x (€93.30 - €230.41) / €230.41
59.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price MorphoSys is available for.
Intrinsic value
>50%
Share price is €93.3 vs Future cash flow value of €230.41
Current Discount Checks
For MorphoSys to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • MorphoSys's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • MorphoSys's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for MorphoSys's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MorphoSys's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XTRA:MOR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €-1.86
XTRA:MOR Share Price ** XTRA (2019-05-20) in EUR €93.3
Europe Biotechs Industry PE Ratio Median Figure of 29 Publicly-Listed Biotechs Companies 22.03x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 20.17x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of MorphoSys.

XTRA:MOR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:MOR Share Price ÷ EPS (both in EUR)

= 93.3 ÷ -1.86

-50.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MorphoSys is loss making, we can't compare its value to the Europe Biotechs industry average.
  • MorphoSys is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does MorphoSys's expected growth come at a high price?
Raw Data
XTRA:MOR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -50.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
59.8%per year
Europe Biotechs Industry PEG Ratio Median Figure of 23 Publicly-Listed Biotechs Companies 1.29x
Germany Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for MorphoSys, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on MorphoSys's assets?
Raw Data
XTRA:MOR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €14.78
XTRA:MOR Share Price * XTRA (2019-05-20) in EUR €93.3
Germany Biotechs Industry PB Ratio Median Figure of 14 Publicly-Listed Biotechs Companies 3.35x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.78x
XTRA:MOR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:MOR Share Price ÷ Book Value per Share (both in EUR)

= 93.3 ÷ 14.78

6.31x

* Primary Listing of MorphoSys.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MorphoSys is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess MorphoSys's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. MorphoSys has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

MOR Future Performance

 How is MorphoSys expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
59.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MorphoSys expected to grow at an attractive rate?
  • MorphoSys's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • MorphoSys's earnings growth is expected to exceed the Germany market average.
  • MorphoSys's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
XTRA:MOR Future Growth Rates Data Sources
Data Point Source Value (per year)
XTRA:MOR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 59.8%
XTRA:MOR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 42.1%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 52.4%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 32.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
XTRA:MOR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XTRA:MOR Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 404 206 202 2
2022-12-31 319 72 129 4
2021-12-31 182 -61 -45 6
2020-12-31 112 -82 -82 14
2019-12-31 55 -97 -120 10
XTRA:MOR Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 87 -31 -59
2018-12-31 76 -33 -56
2018-09-30 94 -14 -27
2018-06-30 54 -48 -82
2018-03-31 58 -55 -74
2017-12-31 67 -38 -70
2017-09-30 52 -52 -84
2017-06-30 49 -59 -73
2017-03-31 49 -47 -68
2016-12-31 50 -47 -60
2016-09-30 49 -48 -45
2016-06-30 48 -41 -40

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • MorphoSys's earnings are expected to grow significantly at over 20% yearly.
  • MorphoSys's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
XTRA:MOR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from MorphoSys Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:MOR Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 5.77 5.77 5.77 1.00
2022-12-31 3.93 5.44 2.41 2.00
2021-12-31 -1.39 0.73 -2.83 6.00
2020-12-31 -2.55 -1.33 -3.91 9.00
2019-12-31 -3.80 -3.45 -4.14 5.00
XTRA:MOR Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 -1.86
2018-12-31 -1.79
2018-09-30 -0.90
2018-06-30 -2.72
2018-03-31 -2.56
2017-12-31 -2.41
2017-09-30 -2.94
2017-06-30 -2.61
2017-03-31 -2.52
2016-12-31 -2.28
2016-09-30 -1.72
2016-06-30 -1.55

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if MorphoSys will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess MorphoSys's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
MorphoSys has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

MOR Past Performance

  How has MorphoSys performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare MorphoSys's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • MorphoSys does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare MorphoSys's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare MorphoSys's 1-year growth to the Europe Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
MorphoSys's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from MorphoSys Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:MOR Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 87.19 -59.35 31.18 94.73
2018-12-31 76.44 -56.17 28.31 87.21
2018-09-30 94.11 -27.50 21.71 87.07
2018-06-30 54.13 -81.74 19.77 100.10
2018-03-31 57.75 -74.27 21.28 97.71
2017-12-31 66.79 -69.83 20.53 103.45
2017-09-30 51.66 -83.88 17.19 105.96
2017-06-30 49.08 -72.68 16.13 94.36
2017-03-31 49.49 -68.22 14.86 89.86
2016-12-31 49.74 -60.38 15.88 83.82
2016-09-30 49.04 -44.97 14.83 80.66
2016-06-30 47.87 -40.44 14.97 77.68
2016-03-31 47.90 -33.16 15.31 78.89
2015-12-31 106.22 14.90 15.07 74.93
2015-09-30 110.94 27.23 14.35 64.14
2015-06-30 116.04 32.94 14.40 62.36
2015-03-31 118.51 36.75 13.81 55.31
2014-12-31 63.98 -3.01 14.14 51.85
2014-09-30 61.32 -5.53 15.55 53.44
2014-06-30 60.28 -5.05 16.77 48.50
2014-03-31 76.92 6.58 18.19 48.07
2013-12-31 77.96 7.37 18.44 47.85
2013-09-30 80.12 14.12 16.72 43.74
2013-06-30 75.79 15.62 14.91 40.02
2013-03-31 57.17 4.59 13.13 38.56
2012-12-31 51.92 2.37 12.08 37.50
2012-09-30 33.76 -5.68 6.76 42.76
2012-06-30 39.83 -7.08 9.03 47.65

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if MorphoSys has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if MorphoSys has efficiently used its assets last year compared to the Europe Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if MorphoSys improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess MorphoSys's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
MorphoSys has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

MOR Health

 How is MorphoSys's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up MorphoSys's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • MorphoSys is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • MorphoSys's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of MorphoSys's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 9.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from MorphoSys Company Filings, last reported 1 month ago.

XTRA:MOR Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 466.38 40.35 335.39
2018-12-31 488.37 0.07 358.96
2018-09-30 531.22 0.07 430.02
2018-06-30 498.91 0.09 371.60
2018-03-31 340.61 0.09 285.76
2017-12-31 358.67 0.09 312.19
2017-09-30 369.90 0.13 249.46
2017-06-30 392.24 0.14 259.77
2017-03-31 401.58 0.22 274.91
2016-12-31 415.46 0.22 279.93
2016-09-30 329.99 0.23 217.61
2016-06-30 342.54 0.23 225.12
2016-03-31 353.28 0.23 268.49
2015-12-31 362.74 0.23 282.93
2015-09-30 374.86 0.24 303.68
2015-06-30 382.30 0.25 310.90
2015-03-31 390.36 0.25 289.61
2014-12-31 348.80 0.25 302.76
2014-09-30 347.84 0.27 364.29
2014-06-30 349.57 0.28 344.94
2014-03-31 346.30 0.30 252.07
2013-12-31 352.15 0.30 271.34
2013-09-30 353.26 0.30 397.16
2013-06-30 222.27 0.07 146.30
2013-03-31 212.23 0.07 162.40
2012-12-31 202.01 0.07 120.41
2012-09-30 198.10 0.07 127.50
2012-06-30 197.19 0.07 123.53
  • MorphoSys's level of debt (8.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.1% vs 8.7% today).
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.

  • MorphoSys has sufficient cash runway for more than 3 years based on current free cash flow.
  • MorphoSys has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of -7% each year.
X
Financial health checks
We assess MorphoSys's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. MorphoSys has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

MOR Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from MorphoSys dividends. Estimated to be 0% next year.
If you bought €2,000 of MorphoSys shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate MorphoSys's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate MorphoSys's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
XTRA:MOR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

XTRA:MOR Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.00 1.00
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as MorphoSys has not reported any payouts.
  • Unable to verify if MorphoSys's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of MorphoSys's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as MorphoSys has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of MorphoSys's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess MorphoSys's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can MorphoSys afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MorphoSys has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

MOR Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Simon Moroney
COMPENSATION €2,280,774
AGE 58
TENURE AS CEO 25.3 years
CEO Bio

Dr. Simon E. Moroney, Ph.D., is the Co-Founder of MorphoSys AG and serves as its Chairman of Management Board and Chief Executive Officer. Dr. Moroney has been Chairman of the Board at MorphoSys US, Inc. Dr. Moroney has been a Member of Management Board at Morphosys AG since 1998. Dr. Moroney served as the Chief Executive Officer of MorphoSys UK Ltd. Prior to Co-founding MorphoSys in 1992, Dr. Moroney held positions at the University of Cambridge, U.K., at the University of British Columbia, Canada and in the Chemistry Department of the ETH in Zurich, Switzerland. He serves as a Member of the Supervisory Board at ProtAffin Biotechnologie AG. Subsequently, he was an Associate in the Harvard Medical School, Boston, U.S.A. and an employee of ImmunoGen Inc., where he worked on the development of antibody-based cancer drugs. In 2002, Dr. Moroney was awarded the German Cross of the Order of Merit for his services to the biotechnology industry. He is a Scientist. He studied Chemistry in New Zealand and was a Commonwealth Scholar to the University of Oxford, where he completed a D. Phil in Chemistry in 1984.

CEO Compensation
  • Simon's compensation has increased whilst company is loss making.
  • Simon's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the MorphoSys management team in years:

4.6
Average Tenure
54
Average Age
  • The tenure for the MorphoSys management team is about average.
Management Team

Simon Moroney

TITLE
Chairman of Management Board & CEO
COMPENSATION
€2M
AGE
58
TENURE
25.3 yrs

Jens Holstein

TITLE
CFO & Member of Management Board
COMPENSATION
€2M
AGE
54
TENURE
8 yrs

Markus Enzelberger

TITLE
Chief Scientific Officer & Member of Management Board
COMPENSATION
€1M
AGE
48
TENURE
1.5 yrs

Malte Peters

TITLE
Chief Development Officer & Member of Management Board
COMPENSATION
€2M
AGE
56
TENURE
2.2 yrs

Klaus De Wall

TITLE
Head of Accounting & Tax

Lara Weber

TITLE
Head of Controlling

Margit Urban

TITLE
Head of Discovery Alliances & Technologies

Sarah Fakih

TITLE
VP & Head of Corporate Communications and Investor Relations
TENURE
0.1 yrs

Armin Weidmann

TITLE
Head of Compliance and Quality Assurance

Charlotte Lohmann

TITLE
General Counsel
AGE
48
TENURE
7 yrs
Board of Directors Tenure

Average tenure and age of the MorphoSys board of directors in years:

2.7
Average Tenure
63
Average Age
  • The average tenure for the MorphoSys board of directors is less than 3 years, this suggests a new board.
Board of Directors

Marc Cluzel

TITLE
Chairman of Supervisory Board
COMPENSATION
€109K
AGE
63
TENURE
1 yrs

Frank Morich

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
€84K
AGE
65

Krisja Vermeylen

TITLE
Member of Supervisory Board
COMPENSATION
€74K
AGE
54
TENURE
2 yrs

Mike Brosnan

TITLE
Member of Supervisory Board
COMPENSATION
€48K
AGE
63
TENURE
1 yrs

Wendy Johnson

TITLE
Member of Supervisory Board
COMPENSATION
€84K
AGE
66
TENURE
4 yrs

Gunther Adolf

TITLE
Member of Scientific Advisory Board
TENURE
2.7 yrs

Bruce Cheson

TITLE
Member of Scientific Advisory Board
TENURE
2.7 yrs

Sergio Quezada

TITLE
Member of Scientific Advisory Board
TENURE
2.7 yrs

Raymond Sweet

TITLE
Member of Scientific Advisory Board
TENURE
2.7 yrs

George Golumbeski

TITLE
Member of Supervisory Board
COMPENSATION
€54K
AGE
61
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess MorphoSys's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. MorphoSys has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

MOR News

Simply Wall St News

Do Institutions Own MorphoSys AG (ETR:MOR) Shares?

If you want to know who really controls MorphoSys AG (ETR:MOR), then you'll have to look at the makeup of its share registry. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … It has a market capitalization of €2.6b, which means it would generally expect to see some institutions on the share registry.

Simply Wall St -

Has MorphoSys AG (ETR:MOR) Got Enough Cash?

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as MorphoSys AG (ETR:MOR), with a market capitalization of €3.62b, rarely draw their attention from the investing community. … Today we will look at MOR’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself.

Simply Wall St -

Should You Buy MorphoSys AG (ETR:MOR)?

As a mid-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … However, could the stock still be trading at a relatively cheap price. … Let’s examine MorphoSys’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Should MorphoSys AG's (ETR:MOR) Recent Earnings Decline Worry You?

After reading MorphoSys AG's (XTRA:MOR) most recent earnings announcement (31 March 2018), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … XTRA:MOR Income Statement Jun 7th 18 We can further examine MorphoSys's loss by looking at what the industry has been experiencing over the past few years. … Each year, for the past five years MorphoSys has seen an annual decline in revenue of -3.53%, on average.

Simply Wall St -

MorphoSys AG's (ETR:MOR) Poor Growth Outlook Brings Concerns

There's room for improvement on the cash management side of things, but its overall debt level and interest coverage somewhat increases my conviction of the sustainability of the business going forward. … MOR has high near term liquidity, with short term assets (cash and other liquid assets) amply covering upcoming one-year liabilities, as well as long-term commitments. … One reason I do like MOR as a business is its low level of fixed assets on its balance sheet (0.92% of total assets).

Simply Wall St -

What You Must Know About Morphosys AG's (ETR:MOR) Financial Health

View our latest analysis for Morphosys How does MOR’s operating cash flow stack up against its debt? … The good news for investors is that Morphosys has virtually no debt. … Next Steps: MOR’s cash flow coverage indicates it could improve its operating efficiency in order to meet demand for debt repayments should unforeseen events arise.

Simply Wall St -

Should You Buy Morphosys AG (ETR:MOR)?

Morphosys AG (XTRA:MOR), a life sciences company based in Germany, saw significant share price volatility over the past couple of months on the XTRA, rising to the highs of €87.05 and falling to the lows of €72.05. … The stock’s ratio of 6.17x is currently trading slightly above its industry peers’ ratio of 4.47x, which means if you buy Morphosys today, you’d be paying a relatively fair price for it. … MOR’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

MOR Company Info

Description

MorphoSys AG, together with its subsidiaries, develops and commercializes antibodies and peptides for therapeutic applications in the United States. The company, together with its pharmaceutical partners, develops a therapeutic pipeline of approximately 115 drugs for various diseases, such as psoriasis, Alzheimer's diseases, haematological malignancies, solid tumors, hemophilia, multiple myeloma, metabolic diseases, inflamation, thrombosis, brittle bone syndrome, eye diseases, cancers, diabetic eye diseases, blood disorders, and asthma. Its product pipeline includes MOR208, an antibody for the treatment of haematological cancers; MOR202, an antibody for the treatment of multiple myeloma and other cancers, as well as other autoimmune diseases; MOR106, an antibody for rheumatoid arthritis; and MOR107, a lanthipeptide for oncology diseases. MorphoSys AG has a regional licensing agreement with I-Mab Biopharma to develop and commercialize MOR202 in China, Taiwan, Hong Kong, and Macao; and a strategic alliance with the LEO Pharma A/S to develop peptide-derived therapeutics for unmet medical needs. The company was founded in 1992 and is headquartered in Planegg, Germany.

Details
Name: MorphoSys AG
MOR
Exchange: XTRA
Founded: 1992
€2,946,332,642
31,579,128
Website: http://www.morphosys.com
Address: MorphoSys AG
Semmelweisstrasse 7,
Planegg,
Bavaria, 82152,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA MOR Ordinary Shares XETRA Trading Platform DE EUR 09. Mar 1999
OTCPK MPSY.F Ordinary Shares Pink Sheets LLC US USD 09. Mar 1999
DB MOR Ordinary Shares Deutsche Boerse AG DE EUR 09. Mar 1999
LSE 0NDV Ordinary Shares London Stock Exchange GB EUR 09. Mar 1999
SWX MOR Ordinary Shares SIX Swiss Exchange CH CHF 09. Mar 1999
WBAG MOR Ordinary Shares Wiener Boerse AG AT EUR 09. Mar 1999
BATS-CHIXE MORD Ordinary Shares BATS 'Chi-X Europe' GB EUR 09. Mar 1999
NasdaqGS MOR SPONSORED ADS Nasdaq Global Select US USD 20. Apr 2018
DB MOR2 SPONSORED ADS Deutsche Boerse AG DE EUR 20. Apr 2018
Number of employees
Current staff
Staff numbers
340
MorphoSys employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 21:10
End of day share price update: 2019/05/20 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.