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Adaptimmune Therapeutics

DB:473A
Snowflake Description

Flawless balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
473A
DB
$431M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, focuses on providing novel cell therapies primarily to patients with solid tumors in the United States. The last earnings update was 50 days ago. More info.


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  • Adaptimmune Therapeutics has significant price volatility in the past 3 months.
473A Share Price and Events
7 Day Returns
-6%
DB:473A
-0.7%
DE Biotechs
2.5%
DE Market
1 Year Returns
-63%
DB:473A
-9.2%
DE Biotechs
-6.7%
DE Market
473A Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Adaptimmune Therapeutics (473A) -6% 9.4% -14.2% -63% -52.3% -
DE Biotechs -0.7% 4.7% -6.2% -9.2% 44% 8.7%
DE Market 2.5% 3.3% 9.2% -6.7% 9% 13.5%
1 Year Return vs Industry and Market
  • 473A underperformed the Biotechs industry which returned -9.2% over the past year.
  • 473A underperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
473A
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Adaptimmune Therapeutics 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 Adaptimmune Therapeutics 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 Adaptimmune Therapeutics.

DB:473A Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.9%
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 DB:473A
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.46
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.456 (1 + (1- 19%) (0%))
1.306
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.31
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.306 * 6.65%)
8.91%

Discounted Cash Flow Calculation for DB:473A using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Adaptimmune Therapeutics 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.

DB:473A DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.91%)
2019 -129.80 Analyst x1 -119.18
2020 -132.50 Analyst x1 -111.71
2021 -52.00 Analyst x1 -40.25
2022 98.90 Analyst x1 70.30
2023 256.20 Analyst x1 167.20
2024 415.37 Est @ 62.13% 248.90
2025 596.29 Est @ 43.56% 328.08
2026 778.50 Est @ 30.56% 393.30
2027 945.56 Est @ 21.46% 438.62
2028 1,088.24 Est @ 15.09% 463.50
Present value of next 10 years cash flows $1,838.76
DB:473A DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $1,088.24 × (1 + 0.23%) ÷ (8.91% – 0.23%)
$12,563.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $12,563.29 ÷ (1 + 8.91%)10
$5,350.99
DB:473A Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,838.76 + $5,350.99
$7,189.75
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $7,189.75 / 104.71
$68.66
DB:473A Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:473A represents 0.90777x of NasdaqGS:ADAP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90777x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 68.66 x 0.90777
€62.33
Value per share (EUR) From above. €62.33
Current discount Discount to share price of €3.74
= -1 x (€3.74 - €62.33) / €62.33
94%

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

Current Discount
Amount off the current price Adaptimmune Therapeutics is available for.
Intrinsic value
>50%
Share price is €3.74 vs Future cash flow value of €62.33
Current Discount Checks
For Adaptimmune Therapeutics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Adaptimmune Therapeutics's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Adaptimmune Therapeutics'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 Adaptimmune Therapeutics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Adaptimmune Therapeutics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:473A PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.98
NasdaqGS:ADAP Share Price ** NasdaqGS (2019-04-18) in USD $4.12
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.53x
Germany Market PE Ratio Median Figure of 421 Publicly-Listed Companies 19.69x

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

** Primary Listing of Adaptimmune Therapeutics.

DB:473A PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:ADAP Share Price ÷ EPS (both in USD)

= 4.12 ÷ -0.98

-4.2x

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

  • Adaptimmune Therapeutics is loss making, we can't compare its value to the Europe Biotechs industry average.
  • Adaptimmune Therapeutics is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Adaptimmune Therapeutics's expected growth come at a high price?
Raw Data
DB:473A PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -4.2x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
5.3%per year
Europe Biotechs Industry PEG Ratio Median Figure of 22 Publicly-Listed Biotechs Companies 1.31x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*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 Adaptimmune Therapeutics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Adaptimmune Therapeutics's assets?
Raw Data
DB:473A PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $2.36
NasdaqGS:ADAP Share Price * NasdaqGS (2019-04-18) in USD $4.12
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.85x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.87x
DB:473A PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:ADAP Share Price ÷ Book Value per Share (both in USD)

= 4.12 ÷ 2.36

1.75x

* Primary Listing of Adaptimmune Therapeutics.

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

  • Adaptimmune Therapeutics is good value based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Adaptimmune Therapeutics'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. Adaptimmune Therapeutics has a total score of 3/6, 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.

Future Performance

 How is Adaptimmune Therapeutics expected to perform in the next 1 to 3 years based on estimates from 7 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
5.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Adaptimmune Therapeutics expected to grow at an attractive rate?
  • Unable to compare Adaptimmune Therapeutics's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Adaptimmune Therapeutics's earnings growth to the Germany market average as it is expected to be loss making during the next 1-3 years.
  • Adaptimmune Therapeutics's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:473A Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:473A Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 5.3%
DB:473A Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 36.1%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 47.4%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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
DB:473A Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:473A Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 346 256 -51 2
2022-12-31 23 99 -126 3
2021-12-31 12 -52 -150 3
2020-12-31 14 -133 -146 7
2019-12-31 8 -130 -136 5
DB:473A Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 60 -104 -96
2018-09-30 62 -94 -87
2018-06-30 49 -91 -93
2018-03-31 43 -73 -69
2017-12-31 38 -54 -70
2017-09-30 42 -31 -58
2017-06-30 17 -59 -76
2017-03-31 14 -58 -78
2016-12-31 14 -48 -72
2016-09-30 10 -68 -73
2016-06-30 12 -53 -61
2016-03-31 15 -45 -55

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Adaptimmune Therapeutics is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Adaptimmune Therapeutics'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
DB:473A Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Adaptimmune Therapeutics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:473A Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 -0.40 -0.40 -0.40 1.00
2022-12-31 -1.00 -0.15 -1.85 2.00
2021-12-31 -1.19 -0.82 -1.55 2.00
2020-12-31 -1.17 -0.90 -1.37 4.00
2019-12-31 -1.20 -0.93 -1.39 4.00
DB:473A Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.98
2018-09-30 -0.91
2018-06-30 -0.99
2018-03-31 -0.74
2017-12-31 -0.80
2017-09-30 -0.71
2017-06-30 -0.99
2017-03-31 -1.10
2016-12-31 -1.01
2016-09-30 -1.03
2016-06-30 -0.86
2016-03-31 -0.84

*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 Adaptimmune Therapeutics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Adaptimmune Therapeutics'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.
Adaptimmune Therapeutics has a total score of 2/6, 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.

Past Performance

  How has Adaptimmune Therapeutics 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 Adaptimmune Therapeutics'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.
  • Adaptimmune Therapeutics does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Adaptimmune Therapeutics's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Adaptimmune Therapeutics's 1-year growth to the Europe Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Adaptimmune Therapeutics'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 Adaptimmune Therapeutics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:473A Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 59.51 -95.51 43.60
2018-09-30 62.30 -86.60 41.61 87.39
2018-06-30 48.69 -92.72 39.43 101.20
2018-03-31 43.17 -69.43 35.85 94.51
2017-12-31 37.83 -70.14 31.11
2017-09-30 42.10 -58.29 28.63 16.85
2017-06-30 17.33 -75.91 25.94 70.66
2017-03-31 14.14 -77.79 24.40 67.93
2016-12-31 14.20 -71.58 23.21
2016-09-30 9.69 -72.92 22.98 62.96
2016-06-30 12.23 -60.67 21.36 56.80
2016-03-31 14.68 -55.37 20.67 48.35
2015-12-31 14.49 -48.18 17.76 39.85
2015-09-30 12.82 -19.09 14.06 28.59
2015-06-30 9.87 -36.79 10.38 24.14
2015-03-31 7.14 -15.72 7.50 18.62
2014-12-31 4.36 -11.59 4.52 16.09
2014-09-30 2.11 -12.81 3.79 13.57
2014-06-30 0.83 -11.60 2.77 9.58
2013-06-30 -8.46 1.21 8.15

*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 Adaptimmune Therapeutics has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Adaptimmune Therapeutics 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 Adaptimmune Therapeutics 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 Adaptimmune Therapeutics'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.
Adaptimmune Therapeutics 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.

Health

 How is Adaptimmune Therapeutics'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 Adaptimmune Therapeutics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Adaptimmune Therapeutics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Adaptimmune Therapeutics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Adaptimmune Therapeutics'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.
  • Adaptimmune Therapeutics has no debt, it does not need to be covered by short term assets.
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 Adaptimmune Therapeutics Company Filings, last reported 3 months ago.

DB:473A Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 246.89 0.00 205.13
2018-09-30 276.16 0.00 237.73
2018-06-30 165.10 0.00 129.03
2018-03-31 191.26 0.00 161.83
2017-12-31 202.98 0.00 208.26
2017-09-30 228.99 0.00 231.86
2017-06-30 229.50 0.00 220.02
2017-03-31 208.33 0.00 203.67
2016-12-31 166.14 0.00 181.47
2016-09-30 180.00 0.00 187.50
2016-06-30 196.99 0.00 205.93
2016-03-31 218.95 0.00 226.10
2015-12-31 234.99 0.00 248.88
2015-09-30 250.31 0.00 271.52
2015-06-30 259.00 0.00 284.34
2015-03-31 245.27 0.00 268.65
2014-12-31 91.98 0.00 126.40
2014-09-30 2.30 0.00 48.84
2014-06-30 2.42 0.00 51.49
2013-06-30 -2.16 1.54 0.25
  • Adaptimmune Therapeutics has no debt.
  • Adaptimmune Therapeutics has no debt compared to 5 years ago when it was 462.4%.
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.

  • Adaptimmune Therapeutics has sufficient cash runway for 1.9 years based on current free cash flow.
  • Adaptimmune Therapeutics has sufficient cash runway for 1.7 years if free cash flow continues to grow at historical rates of 21.5% each year.
X
Financial health checks
We assess Adaptimmune Therapeutics'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. Adaptimmune Therapeutics has a total score of 6/6, 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.

Dividends

 What is Adaptimmune Therapeutics'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 Adaptimmune Therapeutics dividends. Estimated to be 0% next year.
If you bought €2,000 of Adaptimmune Therapeutics 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 Adaptimmune Therapeutics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Adaptimmune Therapeutics'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
DB:473A 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 7 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:473A Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 2.00

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

  • Unable to perform a dividend volatility check as Adaptimmune Therapeutics has not reported any payouts.
  • Unable to verify if Adaptimmune Therapeutics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Adaptimmune Therapeutics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Adaptimmune Therapeutics has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Adaptimmune Therapeutics's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Adaptimmune Therapeutics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Adaptimmune Therapeutics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Adaptimmune Therapeutics 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.

Management

 What is the CEO of Adaptimmune Therapeutics'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
James Noble
COMPENSATION $2,641,513
AGE 59
TENURE AS CEO 5.1 years
CEO Bio

Mr. James Julian Noble, MA, FCA, has been the Chief Executive Officer of Adaptimmune Therapeutics plc since March 31, 2014. Mr. Noble is Co-Founder of Adaptimmune Therapeutics plc and has been involved with its adoptive T cell therapy technology since 1999. He served as part-time Chief Executive Officer of Adaptimmune Therapeutics plc from July 2008 to March 2014. He has 24 years of extensive experience in the biotechnology industry. He served as Chief Executive Officer of Immunocore Ltd. from July 2008 to March 31, 2014. He served as the Chief Executive Officer of Avidex Limited from 2000 to September 2006. He served as the Chief Executive Officer of MediGene Ltd. until September 2006. He served as the Chief Financial Officer and Finance Director at British Biotech Plc from 1990 to 1997. He served as a Director of Corporate Finance at Kleinwort Benson from 1983 to 1990. He started his career at Pricewaterhouse. He has been Chairman of Astaire Group Limited (formerly, Astaire Group Plc) since May 2010. Mr. Noble served as Non Executive Chairman of AfriAg plc (formerly 3D Diagnostic Imaging PLC) until February 2012. He has been the Non Executive Deputy Chairman of GW Pharmaceuticals plc since January 26, 2007 and as its Senior Independent Director since January 26, 2007. He serves as a Non-Executive Director of Oxfordshire BiotechNet Limited. He serves as a Director at Vestpa PLC; Adaptimmune Therapeutics plc and Avidex Limited. He served as Director of Aconite Technology Ltd. He has been a Non-Executive Independent Director at GW Pharmaceuticals plc since January 26, 2007. Mr. Noble has been a Non-Executive Director of Astaire Group Limited since January 13, 2009 and Northland Capital Partners Limited since January 13, 2009. He serves as a Director of Axellis Limited. He serves as a Non-Executive Director of Immunocore Limited. He served as a Director of AfriAg plc from June 18, 2008 to February 2012. He served as a Non-Executive Director of Albany Capital PLC (formerly Bionex Investments plc). until December 2007. He served as a Director of MELA Sciences, Inc., since December 2011. He served as a Non Executive Director of Evolve Capital Plc from December 5, 2007 to May 26, 2010. He served as a Director of CuraGen Corporation from January 24, 2007 to October 1, 2009. He served as a Director of British Biotech PLC from 1990 to 1997 and Kleinwort Benson Limited since 1990. Mr. Noble served as an Independent Non Executive Director of Worldwide Healthcare Trust PLC from February 25, 2004 to July 9, 2007. He served as a Director of Advanced Medical Solutions PLC, Oxagen Limited, Anthra Pharmaceuticals Inc., PAA GmbH, Prolifix Limited, Adprotech Pharmaceuticals Inc. and Oxford GlycoSciences PLC. He served as a Director of PowderJect Pharmaceuticals PLC (alternate name Chiron Pharmaceuticals Limited) until April 17, 2000. He served as a Member of Supervisory Board at MediGene AG from September 29, 2006 to February 29, 2008. He qualified as a Chartered Accountant at Pricewaterhouse Coopers in 1983. Mr. Noble received MA degree in Modern Languages from Oxford University in 1980.

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

Average tenure and age of the Adaptimmune Therapeutics management team in years:

3.9
Average Tenure
53
Average Age
  • The tenure for the Adaptimmune Therapeutics management team is about average.
Management Team

James Noble

TITLE
CEO & Director
COMPENSATION
$3M
AGE
59
TENURE
5.1 yrs

Helen Tayton-Martin

TITLE
Co-Founder & Chief Business Officer
COMPENSATION
$1M
AGE
51

Ad Rawcliffe

TITLE
Chief Financial Officer
COMPENSATION
$1M
AGE
46
TENURE
4.1 yrs

Bill Bertrand

TITLE
Chief Operating Officer
COMPENSATION
$1M
AGE
53
TENURE
2.1 yrs

Rafael Amado

TITLE
President of Research & Development
COMPENSATION
$3M
AGE
54
TENURE
4.1 yrs

Sébastien Desprez

TITLE
Vice President of Communications & Investor Relations

Margaret Henry

TITLE
Head of Public Relations & Company Secretary

Lini Pandite

TITLE
Senior Vice President of Clinical Development
TENURE
3.9 yrs

Trupti Trivedi

TITLE
Head of Biometrics and Vice President
TENURE
3.6 yrs

P. Dyson

TITLE
Head of Autoimmune Group
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the Adaptimmune Therapeutics board of directors in years:

2.6
Average Tenure
53
Average Age
  • The average tenure for the Adaptimmune Therapeutics board of directors is less than 3 years, this suggests a new board.
Board of Directors

Dave Mott

TITLE
Chairman of the Board of Directors
COMPENSATION
$225K
AGE
53
TENURE
2.3 yrs

James Noble

TITLE
CEO & Director
COMPENSATION
$3M
AGE
59

Larry Alleva

TITLE
Non-Executive Director
COMPENSATION
$179K
AGE
68
TENURE
4.1 yrs

Ali Behbahani

TITLE
Non-Executive Director
COMPENSATION
$186K
AGE
42
TENURE
4.2 yrs

Charles Sigal

TITLE
Non-Executive Director
COMPENSATION
$186K
AGE
66
TENURE
4.2 yrs

Barbara Duncan

TITLE
Non-Executive Director
COMPENSATION
$190K
AGE
53
TENURE
2.8 yrs

Giles F. Kerr

TITLE
Non-Executive Director
COMPENSATION
$200K
AGE
59
TENURE
2.4 yrs

Tal Zaks

TITLE
Non-Executive Director
COMPENSATION
$193K
AGE
52
TENURE
2.4 yrs

John Furey

TITLE
Independent Non-Executive Director
COMPENSATION
$310K
AGE
53
TENURE
0.8 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 (€)
17. Jan 19 Sell William Bertrand Individual 14. Jan 19 14. Jan 19 -2,271 €4.68 €-10,625
17. Jan 19 Sell Rafael Amado Individual 14. Jan 19 14. Jan 19 -3,028 €4.68 €-14,166
17. Jan 19 Sell Gwendolyn Binder Individual 14. Jan 19 14. Jan 19 -1,514 €4.68 €-7,083
17. Jan 19 Sell Adrian Rawcliffe Individual 14. Jan 19 14. Jan 19 -3,084 €4.68 €-14,428
10. Sep 18 Buy New Enterprise Associates Company 07. Sep 18 07. Sep 18 2,500,000 €8.64 €21,590,000
06. Jun 18 Sell OrbiMed Advisors, L.L.C. Company 04. Jun 18 06. Jun 18 -18,700 €11.53 €-215,536
01. Jun 18 Sell OrbiMed Advisors, L.L.C. Company 30. May 18 01. Jun 18 -171,000 €11.58 €-1,979,568
16. May 18 Sell OrbiMed Advisors, L.L.C. Company 14. May 18 14. May 18 -10,300 €11.28 €-116,176
X
Management checks
We assess Adaptimmune Therapeutics'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. Adaptimmune Therapeutics 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.

News

Simply Wall St News

Company Info

Description

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, focuses on providing novel cell therapies primarily to patients with solid tumors in the United States. The company’s specific peptide enhanced affinity receptor T-cell platform enables it to identify cancer targets. It is involved in developing ADP-A2M10 that is in the phase I clinical trials for the treatment of non-small cell lung cancer (NSCLC), as well as urothelial, melanoma, and head and neck cancers; ADP-A2M4 that is in phase I clinical trial for solid tumor indication that include urothelial, melanoma, head and neck, ovarian, NSCLC, esophageal, gastric, synovial sarcoma, and myxoid round cell liposarcoma cancers; and ADP-A2AFP that is in phase I clinical trial for hepatocellular carcinoma. The company has a strategic collaboration and license agreement with GSK to research, develop, and commercialize NY-ESO T-cell therapy. Adaptimmune Therapeutics plc was founded in 2008 and is headquartered in Abingdon, the United Kingdom.

Details
Name: Adaptimmune Therapeutics plc
473A
Exchange: DB
Founded: 2008
$383,786,195
104,712,218
Website: http://www.adaptimmune.com
Address: Adaptimmune Therapeutics plc
60 Jubilee Avenue,
Milton Park,
Abingdon,
Oxfordshire, OX14 4RX,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS ADAP ADS EACH REPR ORD SHS (SPONS) Nasdaq Global Select US USD 07. May 2015
DB 473A ADS EACH REPR ORD SHS (SPONS) Deutsche Boerse AG DE EUR 07. May 2015
Number of employees
Current staff
Staff numbers
430
Adaptimmune Therapeutics employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:18
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/03
Last earnings filing: 2019/02/27
Last earnings reported: 2018/12/31
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.