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Affimed

DB:A28
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
A28
DB
$215M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Affimed N.V., a clinical-stage biopharmaceutical company, focuses on discovering and developing cancer immunotherapies in the United States, Europe, and Germany. The last earnings update was 22 days ago. More info.


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  • Affimed has significant price volatility in the past 3 months.
A28 Share Price and Events
7 Day Returns
-20.8%
DB:A28
-0.7%
DE Biotechs
2.5%
DE Market
1 Year Returns
58.5%
DB:A28
-9.2%
DE Biotechs
-6.7%
DE Market
A28 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Affimed (A28) -20.8% -14.7% -5.8% 58.5% -20.6% -
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
  • A28 outperformed the Biotechs industry which returned -9.2% over the past year.
  • A28 outperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
A28
Industry
5yr Volatility vs Market

A28 Value

 Is Affimed 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 Affimed 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 Affimed.

DB:A28 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.1%
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:A28
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 1.46
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.456 (1 + (1- 30%) (2.49%))
1.323
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.32
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.323 * 5.96%)
8.11%

Discounted Cash Flow Calculation for DB:A28 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Affimed 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:A28 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.11%)
2019 -59.00 Analyst x1 -54.57
2020 -67.90 Analyst x1 -58.09
2021 -92.90 Analyst x1 -73.52
2022 -51.80 Analyst x1 -37.92
2023 35.50 Analyst x1 24.04
2024 49.61 Est @ 39.74% 31.07
2025 63.44 Est @ 27.89% 36.75
2026 75.87 Est @ 19.59% 40.66
2027 86.33 Est @ 13.78% 42.79
2028 94.71 Est @ 9.72% 43.43
Present value of next 10 years cash flows €-5.37
DB:A28 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €94.71 × (1 + 0.23%) ÷ (8.11% – 0.23%)
€1,204.33
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,204.33 ÷ (1 + 8.11%)10
€552.17
DB:A28 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €-5.37 + €552.17
€546.80
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €546.80 / 62.43
€10.12
DB:A28 Discount to Share Price
Calculation Result
Exchange Rate EUR/USD
(Reporting currency to currency of NasdaqGM:AFMD)
1.124
Value per Share
(USD)
= Value per Share in EUR x Exchange Rate (EUR/USD)
= €8.76 x 1.124
$9.85
Non-primary Listing Adjustment Factor 1 share in DB:A28 represents 0.86567x of NasdaqGM:AFMD
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.86567x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 9.85 x 0.86567
€8.52
Value per share (EUR) From above. €8.52
Current discount Discount to share price of €2.90
= -1 x (€2.90 - €8.52) / €8.52
66%

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

Current Discount
Amount off the current price Affimed is available for.
Intrinsic value
>50%
Share price is €2.9 vs Future cash flow value of €8.52
Current Discount Checks
For Affimed to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Affimed's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Affimed'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 Affimed's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Affimed's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:A28 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €-0.32
NasdaqGM:AFMD Share Price ** NasdaqGM (2019-04-18) in USD $3.35
NasdaqGM:AFMD Share Price converted to EUR reporting currency Exchange rate (USD/ EUR) 0.89 €2.98
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 Affimed.

DB:A28 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:AFMD Share Price ÷ EPS (both in EUR)

= 2.98 ÷ -0.32

-9.26x

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

  • Affimed is loss making, we can't compare its value to the Europe Biotechs industry average.
  • Affimed is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Affimed's expected growth come at a high price?
Raw Data
DB:A28 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -9.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
5.4%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 Affimed, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Affimed's assets?
Raw Data
DB:A28 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €0.64
NasdaqGM:AFMD Share Price * NasdaqGM (2019-04-18) in USD $3.35
NasdaqGM:AFMD Share Price converted to EUR reporting currency Exchange rate (USD/ EUR) 0.89 €2.98
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:A28 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:AFMD Share Price ÷ Book Value per Share (both in EUR)

= 2.98 ÷ 0.64

4.64x

* Primary Listing of Affimed.

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

  • Affimed is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Affimed'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. Affimed 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.

A28 Future Performance

 How is Affimed expected to perform in the next 1 to 3 years based on estimates from 4 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
5.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Affimed expected to grow at an attractive rate?
  • Affimed's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Affimed's earnings growth is positive but not above the Germany market average.
  • Affimed's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:A28 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:A28 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 5.4%
DB:A28 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 45.7%
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:A28 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:A28 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 174 36 4 3
2022-12-31 60 -52 -61 3
2021-12-31 19 -93 -69 3
2020-12-31 13 -65 -51 4
2019-12-31 14 -57 -41 4
DB:A28 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 24 49 -19
2018-09-30 2 -30 -35
2018-06-30 2 -28 -31
2018-03-31 2 -25 -31
2017-12-31 2 -26 -30
2017-09-30 3 -27 -29
2017-06-30 3 -28 -31
2017-03-31 5 -31 -32
2016-12-31 6 -32 -32
2016-09-30 7 -30 -33
2016-06-30 7 -28 -30
2016-03-31 7 -23 -27

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Affimed's earnings are expected to grow by 5.4% yearly, however this is not considered high growth (20% yearly).
  • Affimed'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:A28 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 4 Analyst Estimates (S&P Global) See Below

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

DB:A28 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.02 0.24 -0.21 2.00
2022-12-31 -0.73 -0.55 -0.86 3.00
2021-12-31 -0.96 -0.91 -1.01 3.00
2020-12-31 -0.72 -0.60 -0.94 3.00
2019-12-31 -0.64 -0.49 -0.93 4.00
DB:A28 Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 -0.32
2018-09-30 -0.62
2018-06-30 -0.60
2018-03-31 -0.65
2017-12-31 -0.69
2017-09-30 -0.71
2017-06-30 -0.83
2017-03-31 -0.90
2016-12-31 -0.97
2016-09-30 -1.00
2016-06-30 -0.94
2016-03-31 -0.88

*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 Affimed will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Affimed'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.
Affimed has a total score of 3/6, 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.

A28 Past Performance

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

DB:A28 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 23.75 -19.48 10.04 34.75
2018-09-30 1.83 -34.66 8.83 27.60
2018-06-30 1.99 -30.74 8.32 23.82
2018-03-31 2.35 -30.67 8.12 22.10
2017-12-31 2.21 -30.22 8.33 21.14
2017-09-30 2.75 -29.22 8.47 22.31
2017-06-30 3.24 -31.42 8.78 25.06
2017-03-31 4.83 -31.51 8.77 28.26
2016-12-31 6.49 -32.22 8.62 29.88
2016-09-30 6.77 -33.07 8.46 31.22
2016-06-30 7.26 -30.07 8.35 28.91
2016-03-31 7.47 -27.22 8.06 25.89
2015-12-31 8.21 -20.24 7.82 21.74
2015-09-30 6.77 -19.26 7.58 18.86
2015-06-30 7.32 -4.64 5.76 14.59
2015-03-31 5.76 13.90 -0.30 6.93
2014-12-31 3.76 -0.26 2.59 9.35
2014-09-30 8.33 2.49 1.54 10.65
2014-06-30 6.63 -16.39 5.23 11.26
2014-03-31 6.24 -38.10 11.12 17.55
2013-12-31 5.73 -26.10 7.30 14.10
2012-12-31 1.38 -14.31 3.32 8.46

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

A28 Health

 How is Affimed'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 Affimed's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Affimed is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Affimed's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Affimed'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 23.2x 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 Affimed Company Filings, last reported 3 months ago.

DB:A28 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 40.13 4.77 94.83
2018-09-30 35.85 5.33 37.08
2018-06-30 47.18 5.95 47.41
2018-03-31 54.26 6.57 55.34
2017-12-31 31.58 7.17 39.84
2017-09-30 33.81 7.18 41.81
2017-06-30 40.13 7.03 48.87
2017-03-31 47.59 4.69 53.68
2016-12-31 38.75 4.59 35.41
2016-09-30 43.20 3.64 49.13
2016-06-30 52.56 4.28 58.62
2016-03-31 59.76 4.43 66.75
2015-12-31 67.27 4.58 76.74
2015-09-30 53.72 4.37 60.43
2015-06-30 60.35 4.34 66.32
2015-03-31 30.65 4.51 37.03
2014-12-31 31.80 3.90 39.73
2014-09-30 37.78 3.80 45.55
2014-06-30 -101.52 85.44 1.80
2014-03-31 -114.87 84.08 5.04
2013-12-31 -99.22 82.75 4.15
2012-12-31 -73.12 73.47 4.90
  • Affimed's level of debt (11.9%) compared to net worth is satisfactory (less than 40%).
  • Affimed had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
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.

  • Whilst loss making Affimed has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Affimed has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -29.9% per year.
X
Financial health checks
We assess Affimed'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. Affimed 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.

A28 Dividends

 What is Affimed'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 Affimed dividends.
If you bought €2,000 of Affimed 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 Affimed's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Affimed'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:A28 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 4 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:A28 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31

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

  • Unable to perform a dividend volatility check as Affimed has not reported any payouts.
  • Unable to verify if Affimed's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Affimed's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Affimed has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Affimed'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 Affimed afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Affimed 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.

A28 Management

 What is the CEO of Affimed'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
Adi Hoess
COMPENSATION €1,404,000
AGE 56
TENURE AS CEO 7.6 years
CEO Bio

Dr. Adi Hoess, M.D., Ph.D., has been the Chief Executive Officer of Affimed N.V. since September 2011 and serves as its Managing Director and Member of Management Board. Dr. Hoess served as Chief Commercial Development Officer of Jerini AG from January 2003 to October 2008. Dr. Hoess served as the Chief Business Officer of Jerini AG and served as its Member of the Management Board until October 2008. He joined MorphoSys in 1993 where he served as a Director of Business Development since 1997 and then Vice President of Licensing/ Business Development. He was responsible for the closing of over 20 collaboration and licensing agreements at MorphoSys. In January 2001, Dr. Hoess joined Carl Zeiss Jena as Vice President and General Manager of the Molecular Medicine Business Division. He has been a Director of Amphivena Therapeutics Inc. He won a 5-year post-doctoral fellowship from the German Cancer Research Center for work at the Dana-Farber Cancer Institute at Harvard Medical School and work at the Medical Research Institute of the Technical University of Munich. During this time, he was the first person to determine the structure and function of an endotoxin-neutralizing protein. In March 1997, he received an M.D. degree. Dr. Hoess studied biochemistry at the Ludwig Maximilian University in Munich, graduating in 1987. He completed his Ph.D. in 1990.

CEO Compensation
  • Adi's compensation has been consistent with company performance over the past year.
  • Adi's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

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

5.9
Average Tenure
51
Average Age
  • The average tenure for the Affimed management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Adi Hoess

TITLE
CEO, MD & Member of Management Board
COMPENSATION
€1M
AGE
56
TENURE
7.6 yrs

Florian H. Fischer

TITLE
MD, CFO & Member of Management Board
COMPENSATION
€743K
AGE
50
TENURE
14.2 yrs

Wolfgang Fischer

TITLE
MD, COO & Member of Management Board
COMPENSATION
€179K
AGE
54

Melvyn Little

TITLE
Founder & Consultant
TENURE
19.3 yrs

Martin Treder

TITLE
Chief Scientific Officer
AGE
48
TENURE
4.3 yrs

Michael Wolf

TITLE
Head of Finance & Administration
AGE
51
TENURE
4.3 yrs

Greg Gin

TITLE
Head of Investor Relations
TENURE
1.3 yrs

Uwe Reusch

TITLE
Head of Cell Culture

Stefan Knackmuss

TITLE
Head of Antibody Screening

Sergey Kipriyanov

TITLE
Head of Research and Development
Board of Directors Tenure

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

4.8
Average Tenure
69
Average Age
  • The tenure for the Affimed board of directors is about average.
Board of Directors

Thomas Hecht

TITLE
Chairman of Supervisory Board
COMPENSATION
€150K
AGE
67
TENURE
5.3 yrs

Ulrich Grau

TITLE
Member of Supervisory Board
COMPENSATION
€92K
AGE
69
TENURE
3.8 yrs

Ferdinand Verdonck

TITLE
Member of Supervisory Board
COMPENSATION
€79K
AGE
76
TENURE
4.8 yrs

Miroslav Ravic

TITLE
Member of Scientific Advisory Board
AGE
69

Andreas Engert

TITLE
Member of Scientific Advisory Board

Max Topp

TITLE
Member of Scientific Advisory Board

Christian Hucke

TITLE
Member of Scientific Advisory Board

Susanne Becker

TITLE
Member of Scientific Advisory Board

Anton Hagenbeek

TITLE
Member of Scientific Advisory Board

Franck Morschhauser

TITLE
Member of Scientific Advisory Board
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 (€)
11. Apr 19 Sell SGR Sagittarius Holding AG Company 09. Apr 19 10. Apr 19 -436,145 €3.72 €-1,602,600
09. Apr 19 Sell SGR Sagittarius Holding AG Company 05. Apr 19 08. Apr 19 -651,159 €3.60 €-2,333,912
05. Apr 19 Sell SGR Sagittarius Holding AG Company 02. Apr 19 04. Apr 19 -647,600 €3.72 €-2,405,432
02. Apr 19 Sell SGR Sagittarius Holding AG Company 27. Mar 19 01. Apr 19 -936,161 €3.77 €-3,486,826
03. Oct 18 Sell SGR Sagittarius Holding AG Company 25. Sep 18 01. Oct 18 -661,159 €3.84 €-2,505,931
26. Sep 18 Sell SGR Sagittarius Holding AG Company 18. Sep 18 24. Sep 18 -689,602 €3.93 €-2,633,248
19. Sep 18 Sell SGR Sagittarius Holding AG Company 07. Sep 18 17. Sep 18 -1,488,479 €4.33 €-6,101,464
X
Management checks
We assess Affimed'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. Affimed 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.

A28 News

Simply Wall St News

A28 Company Info

Description

Affimed N.V., a clinical-stage biopharmaceutical company, focuses on discovering and developing cancer immunotherapies in the United States, Europe, and Germany. Its lead candidate is AFM13, a natural killer cell (NK-cell) TandAb, which is in Phase 2a clinical study of relapsed CD30-positive lymphoma and Phase 1b clinical study of anti-PD-1 antibody Keytruda (pembrolizumab) in patients with relapsed Hodgkin lymphoma. The company’s products include AFM24, a NK-cell bispecific antibody targets EGFR-wild type represents a validated antigen expressed by various solid tumors; AFM26, which binds to B cell maturation antigen (BCMA) for the treatment of multiple myeloma; and Trispecific Abs for the treatment of multiple myeloma. Its products also comprise AFM11, a T cell TandAb, which is in Phase 1 clinical trial in patients with relapsed CD19+ B cell malignancies, including non-Hodgkin Lymphoma and acute lymphocytic leukemia (AML); and AMV564, a CD33/CD3-specific T-cell TandAb is in Phase 1 clinical study of refractory AML. The company has license agreements with Amphivena Therapeutics, Inc., Deutsches Krebsforschungszentrum, and Xoma Ireland Limited; research funding agreement with The Leukemia & Lymphoma Society; and collaboration with Merck Sharp & Dohme B.V. It also has a clinical development and commercialization collaboration with The University of Texas MD Anderson Cancer Center to evaluate AFM13 in combination with MD Anderson’s NK-cell product. The company was formerly known as Affimed Therapeutics B.V. and changed its name to Affimed N.V. in October 2014. Affimed N.V. was founded in 2000 and is headquartered in Heidelberg, Germany.

Details
Name: Affimed N.V.
A28
Exchange: DB
Founded: 2000
$191,605,486
62,430,106
Website: http://www.affimed.com
Address: Affimed N.V.
Technologiepark,
Im Neuenheimer Feld 582,
Heidelberg,
Baden-Württemberg, 69120,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM AFMD Common Shares Nasdaq Global Market US USD 12. Sep 2014
DB A28 Common Shares Deutsche Boerse AG DE EUR 12. Sep 2014
LSE 0HL9 Common Shares London Stock Exchange GB USD 12. Sep 2014
Number of employees
Current staff
Staff numbers
103
Affimed employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:13
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/02
Last earnings filing: 2019/03/27
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.