DB:AYJ

Stock Analysis Report

Executive Summary

Valneva SE, a biotech company, engages in developing and commercializing vaccines for infectious diseases with unmet needs.


Snowflake Analysis

Flawless balance sheet and overvalued.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: AYJ's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

21.0%

AYJ

5.1%

DE Biotechs

-2.7%

DE Market


1 Year Return

-18.7%

AYJ

-10.6%

DE Biotechs

-20.4%

DE Market

Return vs Industry: AYJ underperformed the German Biotechs industry which returned -8.1% over the past year.

Return vs Market: AYJ matched the German Market which returned -17.5% over the past year.


Shareholder returns

AYJIndustryMarket
7 Day21.0%5.1%-2.7%
30 Day-1.1%-5.4%-18.4%
90 Day11.5%-22.4%-26.7%
1 Year-18.7%-18.7%-10.4%-10.6%-18.1%-20.4%
3 Year12.8%12.8%16.0%14.8%-19.1%-25.9%
5 Year-30.8%-30.8%-6.3%-8.8%-19.5%-30.4%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

2.17x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate AYJ's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate AYJ's fair value to establish if it is undervalued.


Price To Earnings Ratio

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

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


Price to Book Ratio

PB vs Industry: AYJ is good value based on its PB Ratio (2.2x) compared to the DE Biotechs industry average (3.6x).


Next Steps

Future Growth

How is Valneva forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

-55.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

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

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

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

Revenue vs Market: AYJ's revenue (7.2% per year) is forecast to grow faster than the German market (4.1% per year).

High Growth Revenue: AYJ's revenue (7.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Valneva performed over the past 5 years?

37.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AYJ is currently unprofitable.

Growing Profit Margin: AYJ is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: AYJ is unprofitable, but has reduced losses over the past 5 years at a rate of 37.1% per year.

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

Earnings vs Industry: AYJ is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (8.7%).


Return on Equity

High ROE: AYJ has a negative Return on Equity (-1.29%), as it is currently unprofitable.


Next Steps

Financial Health

How is Valneva's financial position?


Financial Position Analysis

Short Term Liabilities: AYJ's short term assets (€129.2M) exceed its short term liabilities (€41.3M).

Long Term Liabilities: AYJ's short term assets (€129.2M) exceed its long term liabilities (€88.3M).


Debt to Equity History and Analysis

Debt Level: AYJ's debt to equity ratio (19.5%) is considered satisfactory.

Reducing Debt: AYJ's debt to equity ratio has reduced from 34.7% to 19.5% over the past 5 years.


Balance Sheet

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

Debt Coverage by Assets: AYJ's debt is covered by short term assets (assets are 4.9x 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: AYJ has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: AYJ has sufficient cash runway for 1.2 years if free cash flow continues to grow at historical rates of 48.6% each year.


Next Steps

Dividend

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


Dividend Yield vs Market

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

High Dividend: Unable to evaluate AYJ'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 AYJ's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AYJ'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 AYJ'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?

2.8yrs

Average management tenure


CEO

Thomas Lingelbach (56yo)

6.92s

Tenure

€648,797

Compensation

Mr. Thomas Lingelbach has been the Chief Executive Officer of Valneva SE since May 2013 and as its Chairman and Member of the Management Board since May 10, 2013. Mr. Lingelbach serves as a Managing Direct ...


CEO Compensation Analysis

Compensation vs Market: Thomas's total compensation ($USD0.00) is below average for companies of similar size in the German market ($USD731.58K).

Compensation vs Earnings: Thomas's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Thomas Lingelbach
Chairman of the Management Board6.92yrs€648.80k0.14% 361.3k
Franck Grimaud
President2.75yrs€414.98k0.53% 1.3m
David Lawrence
CFO & Member of Management Board2.67yrs€467.28k0.0053% 13.3k
Frédéric Jacotot
General Counsel3yrs€226.18k0.0053% 13.3k
Wolfgang Bender
Chief Medical Officer & Member of Management Board2.58yrs€469.45k0.0053% 13.3k
Laetitia Bachelot-Fontaine
Head of Investor Relations & Corporate Communicationsno datano datano data
Gerald Strohmaier
Human Resources Officerno datano datano data
Kerstin Westritschnig
Head of Clinical Developmentno datano datano data
Janet Hoogstraate
Chairman of the Management Board of Valneva Sweden ABno datano datano data
Christian Taucher
Head of Global Medical Affairsno datano datano data

2.8yrs

Average Tenure

56yo

Average Age

Experienced Management: AYJ's management team is considered experienced (2.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
James Sulat
Member of Supervisory Board7.08yrs€45.00k0.020% 49.7k
Alexander Von Gabain
Independent Member of Supervisory Board7.08yrs€30.00k0.042% 106.2k
Alain Munoz
Member of Scientific Advisory Board0.75yr€35.00k0.046% 116.2k
Frédéric Grimaud
Chairman of Supervisory Boardno data€50.00k0.28% 717.2k
George Siber
Member of Scientific Advisory Board0.33yrno datano data
Ralf Clemens
Chair of Scientific Advisory Board0.75yr€35.00kno data
Norman Baylor
Member of Scientific Advisory Board0.33yrno datano data
Anne-Marie Graffin
Member of Supervisory Board7.08yrs€30.00kno data
Sandra Poole
Member of Supervisory Board2.83yrs€12.50kno data
Louisa Shaw-Marotto
Vice Chairperson of Supervisory Board0.75yr€30.00kno data

0.8yrs

Average Tenure

66yo

Average Age

Experienced Board: AYJ's board of directors are not considered experienced ( 0.7 years average tenure), which suggests a new board.


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.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.3%.


Top Shareholders

Company Information

Valneva SE's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Valneva SE
  • Ticker: AYJ
  • Exchange: DB
  • Founded:
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: €252.758m
  • Shares outstanding: 90.92m
  • Website: https://www.valneva.com

Number of Employees


Location

  • Valneva SE
  • Campus Bio-Ouest
  • 6, Rue Alain Bombard
  • Nantes
  • Pays de la Loire
  • 44800
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VLAENXTPA (Euronext Paris)YesCommon SharesFREURJun 2007
AYJDB (Deutsche Boerse AG)YesCommon SharesDEEURJun 2007
0OB3LSE (London Stock Exchange)YesCommon SharesGBEURJun 2007
AYJXTRA (XETRA Trading Platform)YesCommon SharesDEEURJun 2007
VLAWBAG (Wiener Boerse AG)YesCommon SharesATEURJun 2007
INRL.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJun 2007
VLASWX (SIX Swiss Exchange)YesCommon SharesCHCHFJun 2007
VLAPENXTPA (Euronext Paris)PRF SHS EUR0.01FREURMay 2013
0QS6LSE (London Stock Exchange)PRF SHS EUR0.01GBEURMay 2013
VNVL.FOTCPK (Pink Sheets LLC)PRF SHS EUR0.01USUSDMay 2013

Biography

Valneva SE, a biotech company, engages in developing and commercializing vaccines for infectious diseases with unmet needs. Its portfolio includes two commercial vaccines for travelers: IXIARO/JESPECT indicated for the prevention of Japanese encephalitis; and DUKORAL indicated for the prevention of cholera and in some countries prevention of diarrhea caused by ETEC. The company has various vaccines in development, including a vaccine against Lyme disease. It has operations in Austria, Sweden, the United Kingdom, France, Canada, and the United States. Valneva SE is based in Nantes, France. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/02 01:44
End of Day Share Price2020/04/01 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.