XTRA:MOR

Stock Analysis Report

Executive Summary

MorphoSys AG, together with its subsidiaries, develops and commercializes antibodies and peptides for therapeutic applications in the United States.

Snowflake

Fundamentals

Excellent balance sheet with high growth potential.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-0.3%

MOR

1.0%

DE Biotechs

1.4%

DE Market


1 Year Return

16.7%

MOR

1.3%

DE Biotechs

3.8%

DE Market

Return vs Industry: MOR exceeded the German Biotechs industry which returned 1.3% over the past year.

Return vs Market: MOR exceeded the German Market which returned 3.8% over the past year.


Shareholder returns

MORIndustryMarket
7 Day-0.3%1.0%1.4%
30 Day-7.3%-4.7%1.3%
90 Day-6.2%-4.6%3.1%
1 Year16.7%16.7%1.5%1.3%7.0%3.8%
3 Year140.4%140.4%67.3%65.6%18.5%8.3%
5 Year35.6%35.6%12.9%10.4%42.2%22.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MOR (€98.1) is trading below our estimate of fair value (€293.47)

Significantly Below Fair Value: MOR is trading below fair value by more than 20%.


Price To Earnings Ratio

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

PE vs Market: MOR 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 MOR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MOR is overvalued based on its PB Ratio (6.7x) compared to the DE Biotechs industry average (3.1x).


Next Steps

Future Growth

How is MorphoSys forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

64.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MOR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.2%).

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

High Growth Earnings: MOR's loss is forecast to worsen by 0% next year.

Revenue vs Market: MOR's revenue (43.4% per year) is forecast to grow faster than the German market (5% per year).

High Growth Revenue: MOR's revenue (43.4% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MOR is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has MorphoSys performed over the past 5 years?

-40.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MOR is unprofitable, and losses have increased over the past 5 years at a rate of -40.6% per year.

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

Earnings vs Industry: MOR is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (-2.3%).


Return on Equity

High ROE: MOR has a negative Return on Equity (-9%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: MOR is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: MOR is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is MorphoSys's financial position?


Financial Position Analysis

Short Term Liabilities: MOR's short term assets (€394.0M) exceeds its short term liabilities (€51.7M)

Long Term Liabilities: MOR's short term assets (394.0M) exceeds its long term liabilities (42.0M)


Debt to Equity History and Analysis

Debt Level: MOR's debt to equity ratio (0.02%) is considered satisfactory

Reducing Debt: MOR's debt to equity ratio has reduced from 0.08% to 0.02% over the past 5 years.


Balance Sheet

Inventory Level: MOR has a low level of unsold assets or inventory.

Debt Coverage by Assets: MOR's debt is covered by short term assets (assets are 5509.078450x debt).


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: MOR has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if MOR has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.8%industryaverage0.8%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate MOR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MOR's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if MOR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MOR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MOR'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 MorphoSys's salary, the management and board of directors tenure and is there insider trading?

2.3yrs

Average management tenure


CEO

Jean-Paul Kress (54yo)

0.08yrs

Tenure

0

Dr. Jean-Paul Kress, M.D. has been the Chief Executive Officer of MorphoSys AG since September 1, 2019 and has been its Management Board Member since 2019. Dr. Kress was the President and Chief Executive O ...


Management Age and Tenure

2.3yrs

Average Tenure

54yo

Average Age

Experienced Management: MOR's management team is considered experienced (2.3 years average tenure).


Board Age and Tenure

3.1yrs

Average Tenure

64yo

Average Age

Experienced Board: MOR's board of directors are considered experienced (3.1 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


Management Team

  • Jens Holstein (55yo)

    CFO & Member of the Management Board

    • Tenure: 8.4yrs
    • Compensation: €1.66m
  • Charlotte Lohmann (49yo)

    General Counsel

    • Tenure: 7.4yrs
  • Klaus De Wall

    Head of Accounting & Tax

    • Tenure: 0yrs
  • Markus Enzelberger (49yo)

    Chief Scientific Officer & Member of the Management Board

    • Tenure: 1.9yrs
    • Compensation: €1.38m
  • Armin Weidmann

    Head of Compliance and Quality Assurance

    • Tenure: 0yrs
  • Margit Urban

    Head of Discovery Alliances & Technologies

    • Tenure: 0yrs
  • Jean-Paul Kress (54yo)

    CEO & Management Board Member

    • Tenure: 0.08yrs
  • Malte Peters (57yo)

    Chief Development Officer & Member of the Management Board

    • Tenure: 2.6yrs
    • Compensation: €1.59m
  • Lara Weber

    Head of Controlling

    • Tenure: 0yrs
  • Sarah Fakih

    VP & Head of Corporate Communications and Investor Relations

    • Tenure: 0.5yrs

Board Members

  • Wendy Johnson (67yo)

    Member of the Supervisory Board

    • Tenure: 4.4yrs
    • Compensation: €83.56k
  • Frank Morich (66yo)

    Deputy Chairman of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: €84.20k
  • Mike Brosnan (64yo)

    Member of the Supervisory Board

    • Tenure: 1.4yrs
    • Compensation: €47.56k
  • Marc Cluzel (64yo)

    Chairman of the Supervisory Board

    • Tenure: 1.4yrs
    • Compensation: €109.14k
  • Bruce Cheson

    Member of Scientific Advisory Board

    • Tenure: 3.1yrs
  • George Golumbeski (62yo)

    Member of the Supervisory Board

    • Tenure: 1.4yrs
    • Compensation: €54.16k
  • Gunther Adolf

    Member of Scientific Advisory Board

    • Tenure: 3.1yrs
  • Sergio Quezada

    Member of Scientific Advisory Board

    • Tenure: 3.1yrs
  • Raymond Sweet

    Member of Scientific Advisory Board

    • Tenure: 3.1yrs
  • Krisja Vermeylen (57yo)

    Member of the Supervisory Board

    • Tenure: 2.4yrs
    • Compensation: €74.32k

Company Information

MorphoSys AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MorphoSys AG
  • Ticker: MOR
  • Exchange: XTRA
  • Founded: 1992
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: €3.107b
  • Shares outstanding: 31.67m
  • Website: https://www.morphosys.com

Number of Employees


Location

  • MorphoSys AG
  • Semmelweisstrasse 7
  • Planegg
  • Bavaria
  • 82152
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MORDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 1999
MORXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURMar 1999
0NDVLSE (London Stock Exchange)YesOrdinary SharesGBEURMar 1999
MPSY.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 1999
MORDBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURMar 1999
MORSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFMar 1999
MORWBAG (Wiener Boerse AG)YesOrdinary SharesATEURMar 1999
MOR2DB (Deutsche Boerse AG)SPON ADS EACH REP 0.25 ORD SHSDEEURApr 2018
MORNasdaqGS (Nasdaq Global Select)SPON ADS EACH REP 0.25 ORD SHSUSUSDApr 2018

Biography

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,  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 20:59
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
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.