OncoCyte Corporation focuses on the development and commercialization of novel and non-invasive blood and urine (liquid biopsy) diagnostic tests for the early detection of cancer.
The last earnings update was 18 days ago.
Discounted Cash Flow Calculation for DB:7OC using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for
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:7OC DCF 1st Stage: Next 10 year cash flow forecast
Amount off the current price
is available for.
Share price is
vs Future cash flow value of
Current Discount Checks
to be considered undervalued it must be available for at least 20% below the
current price. Less than 40% is even better.
OncoCyte's share price is below the future cash flow value, but not at a moderate discount (< 20%).
OncoCyte's share price is below the future cash flow value, but not 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
is considered below, and whether this is a fair price.
Price based on past earnings
OncoCyte's earnings available for a low price, and how does
this compare to other companies in the same industry?
OncoCyte's earnings are expected to grow significantly at over 20% yearly.
Unable to determine if OncoCyte is high growth as no revenue estimate data is available.
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.
OncoCyte's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
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.
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.
TENURE AS CEO
Mr. William Annett, also known as Bill, MBA, has been the Chief Executive Officer of OncoCyte Corporation since June 16, 2015 and also serves as its President. Mr. Annett has extensive experience within the biotechnology and diagnostics industry, having held the position of Chief Executive Officer at six organizations as well as having experience in senior management positions at Genentech, Accenture and other companies. Mr. Annett was a Managing Director at Accenture from 2011 to 2014. He served as the Chief Executive Officer of BioFX Laboratories. from 1999 to 2000. In 2001 he founded and led Corra Life Sciences until 2003. He founded Western Canada Water and led it for six years as Chief Executive Officer. At Genentech, from 2003 to 2011 he led the Commercial Strategy group and managed large operational projects with several hundred team members. He directed the Project Finance function for R&D, which supported all development pipeline products with more than 200 clinical trials. He led one of Genentech's largest change initiatives, a $150 million/450 person effort that transformed that organization's commercial systems and business processes. He served as Managing Director of Accenture, where he founded, built and led Accenture's west coast Life Sciences practice, with sales, marketing and delivery responsibility for all lines of business and all clients in the territory. He has been a Director of OncoCyte Corporation since June 2015 and California Life Sciences Association since November 23, 2015. Mr. Annett holds a BA and an MA degrees and an MBA from the Harvard Business School.
Bill's compensation has increased whilst company is loss making.
Bill's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure
Average tenure and age of the
management team in years:
The average tenure for the OncoCyte management team is less than 2 years, this suggests a new team.
Chief Financial Officer
Chief Scientific Officer
Chief Operating Officer
Board of Directors Tenure
Average tenure and age of the
board of directors in years:
The average tenure for the OncoCyte board of directors is less than 3 years, this suggests a new board.
OncoCyte Corporation focuses on the development and commercialization of novel and non-invasive blood and urine (liquid biopsy) diagnostic tests for the early detection of cancer. The company is developing diagnostic tests using genetic and protein markers expressed in various types of cancer. It develops diagnostic tests based on liquid biopsies using blood or urine samples for detecting lung, bladder, and breast cancer. The company was founded in 2009 and is based in Alameda, California. OncoCyte Corporation is a subsidiary of BioTime, Inc.
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