DB:B4V

Stock Analysis Report

Executive Summary

Biotec Pharmacon ASA, together with its subsidiaries, develops, manufactures, and markets immune modulating beta-glucans and recombinant enzymes in Norway.

Rewards

Earnings have grown 6.9% per year over the past 5 years

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Highly volatile share price over past 3 months

Does not have a meaningful market cap (€386M)



Snowflake Analysis

Flawless balance sheet with weak fundamentals.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: B4V's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-6.5%

B4V

-1.0%

DE Biotechs

1.7%

DE Market


1 Year Return

88.4%

B4V

6.2%

DE Biotechs

15.0%

DE Market

Return vs Industry: B4V exceeded the German Biotechs industry which returned 6.2% over the past year.

Return vs Market: B4V exceeded the German Market which returned 15% over the past year.


Shareholder returns

B4VIndustryMarket
7 Day-6.5%-1.0%1.7%
30 Day51.0%-2.3%0.8%
90 Day93.0%7.8%3.7%
1 Year88.4%88.4%6.4%6.2%18.5%15.0%
3 Year-30.3%-30.3%49.0%47.3%17.1%6.9%
5 Year-60.2%-60.2%12.6%10.3%24.3%7.3%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

8.39x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: B4V (€0.78) is trading above our estimate of fair value (€0.51)

Significantly Below Fair Value: B4V is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: B4V is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: B4V 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 B4V's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: B4V is overvalued based on its PB Ratio (8.4x) compared to the DE Biotechs industry average (3.5x).


Next Steps

Future Growth

How is Biotec Pharmacon forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

35.2%

Forecasted Pharmaceuticals & Biotech industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Biotec Pharmacon has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Biotec Pharmacon performed over the past 5 years?

6.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: B4V is currently unprofitable.

Growing Profit Margin: B4V is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: B4V is unprofitable, but has reduced losses over the past 5 years at a rate of 6.9% per year.

Accelerating Growth: Unable to compare B4V's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: B4V is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (-4.7%).


Return on Equity

High ROE: B4V has a negative Return on Equity (-12.88%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Biotec Pharmacon's financial position?


Financial Position Analysis

Short Term Liabilities: B4V's short term assets (NOK52.5M) exceed its short term liabilities (NOK18.3M).

Long Term Liabilities: B4V's short term assets (NOK52.5M) exceed its long term liabilities (NOK12.7M).


Debt to Equity History and Analysis

Debt Level: B4V is debt free.

Reducing Debt: B4V has not had any debt for past 5 years.


Balance Sheet

Inventory Level: B4V has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if B4V'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: Whilst unprofitable B4V has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: B4V is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 8.2% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.3%markettop25%3.6%industryaverage1.0%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate B4V's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate B4V'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 B4V's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if B4V'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 B4V'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?

3.8yrs

Average management tenure


CEO

Jethro Holter (47yo)

0.3yrs

Tenure

kr1,525,000

Compensation

Mr. Jethro Holter has been interim CEO at Biotec Pharmacon ASA since October 23, 2019. Mr. Holter has been Managing Director of ArcticZymes AS at Biotec Pharmacon ASA since January 1, 2015. Mr. Holter join ...


CEO Compensation Analysis

Compensation vs Market: Jethro's total compensation ($USD164.88K) is below average for companies of similar size in the German market ($USD412.37K).

Compensation vs Earnings: Jethro's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Jethro Holter
Interim Chief Executive Officer0.3yrskr1.53m0.0012% NOK450.0
Børge Sørvoll
Chief Financial Officer5.3yrskr1.31m0.053% NOK20.2k
Svein W. Lien
Consultant2.3yrskr1.42mno data
Alexander Bjorna
Director of IP & Business Development15.4yrsno datano data

3.8yrs

Average Tenure

47yo

Average Age

Experienced Management: B4V's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Marie Roskrow
Chairperson1.8yrskr255.00k15.58% NOK6.0m
Ingrid Skjæveland
Representative Director2.8yrskr75.00k0.033% NOK12.8k
Volker Wedershoven
Director0.8yrsno data0.17% NOK63.7k
Marit Lorentzen
Employee Observer Director0.8yrsno data0.042% NOK16.2k

1.3yrs

Average Tenure

Experienced Board: B4V's board of directors are not considered experienced ( 1.3 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: B4V insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Biotec Pharmacon ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Biotec Pharmacon ASA
  • Ticker: B4V
  • Exchange: DB
  • Founded: 1990
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: kr385.711m
  • Listing Market Cap: kr38.462m
  • Shares outstanding: 48.33m
  • Website: https://www.biotec.no

Number of Employees


Location

  • Biotec Pharmacon ASA
  • Sykehusveien 23
  • PO Box 6463
  • Tromsø
  • 9294
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BIOTECOB (Oslo Bors)YesOrdinary SharesNONOKNov 2005
B4VDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2005
0DRVLSE (London Stock Exchange)YesOrdinary SharesGBNOKNov 2005
BIOTEOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKNov 2005

Biography

Biotec Pharmacon ASA, together with its subsidiaries, develops, manufactures, and markets immune modulating beta-glucans and recombinant enzymes in Norway. It operates through Enzymes and Beta-Glucans segments. It offers Woulgan Gel, an active wound healing product containing soluble beta-glucan; M-Gard, an immunomodulator that enhances body’s defense mechanisms against pathogens, such as bacteria, virus, fungus, etc.; and M-Glucan, an immune-enhancing agent for various applications in the animal feed industry. The company also develops and markets recombinant enzymes that are derived from cold-water marine species for use in life science research and in the molecular diagnostics sector. Biotec Pharmacon ASA was founded in 1990 and is headquartered in Tromsø, Norway. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/16 20:58
End of Day Share Price2020/02/14 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.