DB:2B4

Stock Analysis Report

Executive Summary

Bonesupport Holding AB (publ), an orthobiologics company, develops and commercializes injectable bioceramic bone graft substitutes for the treatment of bone voids in Sweden and internationally.


Snowflake Analysis

Adequate balance sheet and slightly overvalued.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: 2B4 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-7.1%

2B4

-4.1%

DE Biotechs

-5.7%

DE Market


1 Year Return

68.0%

2B4

3.7%

DE Biotechs

6.1%

DE Market

Return vs Industry: 2B4 exceeded the German Biotechs industry which returned 3.7% over the past year.

Return vs Market: 2B4 exceeded the German Market which returned 6.1% over the past year.


Shareholder returns

2B4IndustryMarket
7 Day-7.1%-4.1%-5.7%
30 Day-10.7%-8.2%-5.7%
90 Day1.6%-2.0%-3.6%
1 Year68.0%68.0%4.0%3.7%9.3%6.1%
3 Yearn/a38.2%36.7%8.9%-0.7%
5 Yearn/a9.9%7.5%13.6%-2.0%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Bonesupport Holding 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: 2B4 (€3.25) is trading below our estimate of fair value (€6.81)

Significantly Below Fair Value: 2B4 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 2B4 is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: 2B4 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 2B4's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 2B4 is overvalued based on its PB Ratio (11.5x) compared to the DE Biotechs industry average (3.2x).


Next Steps

Future Growth

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

50.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2B4 is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: 2B4 is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: 2B4 is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: 2B4's revenue (44% per year) is forecast to grow faster than the German market (5.1% per year).

High Growth Revenue: 2B4's revenue (44% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 2B4's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Bonesupport Holding performed over the past 5 years?

-20.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2B4 is currently unprofitable.

Growing Profit Margin: 2B4 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 2B4 is unprofitable, and losses have increased over the past 5 years at a rate of -20.4% per year.

Accelerating Growth: Unable to compare 2B4's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 2B4 is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (-4.7%).


Return on Equity

High ROE: 2B4 has a negative Return on Equity (-103.37%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Bonesupport Holding's financial position?


Financial Position Analysis

Short Term Liabilities: 2B4's short term assets (SEK207.3M) exceed its short term liabilities (SEK63.2M).

Long Term Liabilities: 2B4's short term assets (SEK207.3M) exceed its long term liabilities (SEK6.0M).


Debt to Equity History and Analysis

Debt Level: 2B4 is debt free.

Reducing Debt: 2B4 had no debt 5 years ago.


Balance Sheet

Inventory Level: 2B4 has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if 2B4's debt is covered by short term assets.


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: 2B4 has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if 2B4 has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.8%industryaverage1.0%forecastin3Years0%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate 2B4's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 2B4's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 2B4's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 2B4'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 2B4's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

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

1.6yrs

Average management tenure


CEO

Emil Billbäck (49yo)

1.9yrs

Tenure

kr5,725,200

Compensation

Mr. Emil Billbäck has been Chief Executive Officer at BONESUPPORT HOLDING AB (publ) since March 01, 2018. Mr. Billbäck is the Chief Executive Officer of BONESUPPORT AB. He has over 20 years management expe ...


CEO Compensation Analysis

Compensation vs Market: Emil's total compensation ($USD589.01K) is about average for companies of similar size in the German market ($USD627.72K).

Compensation vs Earnings: Insufficient data to compare Emil's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Emil Billbäck
Chief Executive Officer1.9yrskr5.73mno data
Lars Lidgren
Founder & Director10.1yrskr217.00kno data
Håkan Johansson
Chief Financial Officer1.3yrsno datano data
Johan Olsson
COO and Executive VP of Manufacturing & Supply0yrsno datano data
Annelie Vikner
Executive Vice President Global Marketing & Communications0.9yrsno datano data
Helena Brandt
Head of Human Resources2.3yrsno datano data
Carin Nilsson-Thorell
Executive Vice President of Quality Management & Regulatory Affairs0.3yrsno datano data
Michael Diefenbeck
Executive VP of R&D2.8yrsno datano data
Jerry Chang
Executive Vice President of R&D2.4yrsno datano data
Fergus MacLeod
GM & Executive VP Commercial Operations EUROW0.3yrsno datano data

1.6yrs

Average Tenure

54yo

Average Age

Experienced Management: 2B4's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Lars Lidgren
Founder & Director10.1yrskr217.00kno data
Björn Odlander
Director10.1yrskr230.00kno data
Lennart Johansson
Chairman of the board0.8yrskr304.00k0.095% SEK165.5k
Sven Björklund
Director3.2yrskr375.00kno data
Tone Kvåle
Director3.2yrskr290.00kno data
Simon Cartmell
Director2.1yrskr179.00kno data

3.2yrs

Average Tenure

62yo

Average Age

Experienced Board: 2B4's board of directors are considered experienced (3.2 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.4%.


Top Shareholders

Company Information

Bonesupport Holding AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bonesupport Holding AB (publ)
  • Ticker: 2B4
  • Exchange: DB
  • Founded: 1999
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: kr1.833b
  • Listing Market Cap: kr173.320m
  • Shares outstanding: 52.36m
  • Website: https://www.bonesupport.com

Number of Employees


Location

  • Bonesupport Holding AB (publ)
  • Scheelevagen 19
  • Lund
  • Skåne County
  • 223 70
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BONEXOM (OMX Nordic Exchange Stockholm)YesCommon SharesSESEKJun 2017
0RQOLSE (London Stock Exchange)YesCommon SharesGBSEKJun 2017
2B4DB (Deutsche Boerse AG)YesCommon SharesDEEURJun 2017
BONEXSBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBSEKJun 2017

Biography

Bonesupport Holding AB (publ), an orthobiologics company, develops and commercializes injectable bioceramic bone graft substitutes for the treatment of bone voids in Sweden and internationally. The company offers CERAMENT Bone Void Filler used to fill gaps and voids in bone; CERAMENT G, a gentamicin-eluting injectable synthetic bone substitute; and CERAMENT V, a vancomycin-eluting synthetic bone substitute. Its products are used in orthopedic markets. The company was founded in 1999 and is headquartered in Lund, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 22:59
End of Day Share Price2020/02/25 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.