DB:B6E

Stock Analysis Report

Executive Summary

Swedish Orphan Biovitrum AB (publ), an integrated biotechnology company, researches, develops, manufactures, and sells pharmaceuticals in the therapeutic areas of haemophilia, immunology, and genetic and metabolic diseases.

Rewards

Trading at 27.8% below its fair value

Earnings are forecast to grow 15.28% per year

Earnings grew by 36.7% over the past year

Risk Analysis

High level of non-cash earnings

Has a high level of debt

Highly volatile share price over past 3 months

Shareholders have been diluted in the past year



Snowflake Analysis

Very undervalued with moderate growth potential.


Similar Companies

Share Price & News

How has Swedish Orphan Biovitrum's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: B6E's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

12.3%

B6E

11.7%

DE Biotechs

9.9%

DE Market


1 Year Return

-28.3%

B6E

-8.1%

DE Biotechs

-17.5%

DE Market

Return vs Industry: B6E underperformed the German Biotechs industry which returned -5.1% over the past year.

Return vs Market: B6E underperformed the German Market which returned -17.7% over the past year.


Shareholder returns

B6EIndustryMarket
7 Day12.3%11.7%9.9%
30 Day2.9%-5.9%-16.6%
90 Day4.1%-22.6%-24.8%
1 Year-28.3%-28.3%-7.9%-8.1%-15.0%-17.5%
3 Year14.9%14.9%16.6%15.4%-17.4%-24.5%
5 Year55.5%55.5%-6.1%-8.5%-16.6%-28.1%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Swedish Orphan Biovitrum undervalued compared to its fair value and its price relative to the market?

26.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: B6E (€14.97) is trading below our estimate of fair value (€20.72)

Significantly Below Fair Value: B6E is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: B6E is good value based on its PE Ratio (14.7x) compared to the Biotechs industry average (34x).

PE vs Market: B6E is good value based on its PE Ratio (14.7x) compared to the German market (16.4x).


Price to Earnings Growth Ratio

PEG Ratio: B6E is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: B6E is good value based on its PB Ratio (2.9x) compared to the DE Biotechs industry average (3.6x).


Next Steps

Future Growth

How is Swedish Orphan Biovitrum forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

15.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: B6E's forecast earnings growth (15.3% per year) is above the savings rate (-0.4%).

Earnings vs Market: B6E's earnings (15.3% per year) are forecast to grow faster than the German market (14.3% per year).

High Growth Earnings: B6E's earnings are forecast to grow, but not significantly.

Revenue vs Market: B6E's revenue (7.4% per year) is forecast to grow faster than the German market (4.1% per year).

High Growth Revenue: B6E's revenue (7.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: B6E's Return on Equity is forecast to be low in 3 years time (15.1%).


Next Steps

Past Performance

How has Swedish Orphan Biovitrum performed over the past 5 years?

54.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: B6E has a high level of non-cash earnings.

Growing Profit Margin: B6E's current net profit margins (23.2%) are lower than last year (26.5%).


Past Earnings Growth Analysis

Earnings Trend: B6E has become profitable over the past 5 years, growing earnings by 54.7% per year.

Accelerating Growth: B6E's earnings growth over the past year (36.7%) is below its 5-year average (54.7% per year).

Earnings vs Industry: B6E earnings growth over the past year (36.7%) exceeded the Biotechs industry 8.7%.


Return on Equity

High ROE: B6E's Return on Equity (19.5%) is considered low.


Next Steps

Financial Health

How is Swedish Orphan Biovitrum's financial position?


Financial Position Analysis

Short Term Liabilities: B6E's short term assets (SEK7.3B) exceed its short term liabilities (SEK5.7B).

Long Term Liabilities: B6E's short term assets (SEK7.3B) do not cover its long term liabilities (SEK23.0B).


Debt to Equity History and Analysis

Debt Level: B6E's debt to equity ratio (95.3%) is considered high.

Reducing Debt: B6E's debt to equity ratio has increased from 17.5% to 95.3% over the past 5 years.

Debt Coverage: B6E's debt is well covered by operating cash flow (22.5%).

Interest Coverage: B6E's interest payments on its debt are well covered by EBIT (17.8x coverage).


Balance Sheet

Inventory Level: B6E has a low level of unsold assets or inventory.

Debt Coverage by Assets: B6E's debt is not covered by short term assets (assets are 0.5x debt).


Next Steps

Dividend

What is Swedish Orphan Biovitrum's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate B6E's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate B6E'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 B6E's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if B6E'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 B6E'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?

1.5yrs

Average management tenure


CEO

Guido Oelkers (54yo)

2.83s

Tenure

kr25,715,000

Compensation

Dr. Guido Oelkers is a Director of Dova Pharmaceuticals Inc. since November 12, 2019. Dr. Oelkers has been the Chief Executive Officer and President at Swedish Orphan Biovitrum AB since May 22, 2017. He se ...


CEO Compensation Analysis

Compensation vs Market: Guido's total compensation ($USD2.59M) is about average for companies of similar size in the German market ($USD3.38M).

Compensation vs Earnings: Guido's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Guido Oelkers
CEO & President2.83yrskr25.72m0.017% SEK758.6k
Henrik Stenqvist
Chief Financial Officer1.67yrsno data0.0095% SEK433.3k
Anne de Jonge Schuermans
Head of Technical Operations1.42yrsno datano data
Paula Treutiger
Head of Communications & Investor Relations1.17yrsno datano data
Torbjörn Hallberg
General Counsel and Head of Legal Affairs & Human Resources1.17yrsno data0.0029% SEK131.7k
Annika Muskantor
Head of Global Supply Chainno datano datano data
Jorgen Winroth
Senior IR Advisorno datano datano data
Philip Wood
Head of Haematology6.25yrsno data0.0099% SEK449.2k
Bruce Faulkner-Dunkley
Global Head of L&ODno datano datano data
Konstantina Karampela
Senior Director of European Commercial Operations (Specialty Care and Partner Products)no datano datano data

1.5yrs

Average Tenure

52yo

Average Age

Experienced Management: B6E's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Lennart Johansson
Director9.83yrskr610.00k0.0072% SEK328.0k
Hans Wigzell
Chairman of Scientific Advisory Board19.17yrskr158.00kno data
Sven Björklund
Independent Chairman3.83yrskr1.39m0.0054% SEK244.7k
Helena Saxon
Director8.83yrskr367.00k0.0053% SEK240.1k
Stephen O'Rahilly
Member of Scientific Advisory Boardno datano datano data
Ralf Pettersson
Member of Scientific Advisory Boardno datano datano data
Stefan Del Prato
Member of Scientific Advisory Boardno datano datano data
Jonathan Sanders Arch
Member of Scientific Advisory Boardno datano datano data
Hans G. C. Schikan
Independent Member of the Supervisory Board8.83yrskr592.00k0.0014% SEK62.0k
Pia Axelson
Employee Representative Director0.42yrno data0.0024% SEK107.5k

8.8yrs

Average Tenure

62yo

Average Age

Experienced Board: B6E's board of directors are considered experienced (8.9 years average tenure).


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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 8.6%.


Top Shareholders

Company Information

Swedish Orphan Biovitrum AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Swedish Orphan Biovitrum AB (publ)
  • Ticker: B6E
  • Exchange: DB
  • Founded:
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: kr49.737b
  • Listing Market Cap: kr4.556b
  • Shares outstanding: 294.30m
  • Website: https://www.sobi.com

Number of Employees


Location

  • Swedish Orphan Biovitrum AB (publ)
  • Tomtebodavägen 23A
  • Solna
  • Stockholm County
  • 112 76
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SOBIOM (OMX Nordic Exchange Stockholm)YesClass A SharesSESEKSep 2006
B6EDB (Deutsche Boerse AG)YesClass A SharesDEEURSep 2006
0MTDLSE (London Stock Exchange)YesClass A SharesGBSEKSep 2006
BIOV.FOTCPK (Pink Sheets LLC)YesClass A SharesUSUSDSep 2006
SOBISBATS-CHIXE (BATS 'Chi-X Europe')YesClass A SharesGBSEKSep 2006

Biography

Swedish Orphan Biovitrum AB (publ), an integrated biotechnology company, researches, develops, manufactures, and sells pharmaceuticals in the therapeutic areas of haemophilia, immunology, and genetic and metabolic diseases. The company offers Elocta to treat haemophilia A; and Alprolix to treat haemophilia B. It also provides Orfadin for the treatment of hereditary tyrosinaemia type 1; Gamifan for treating hemophagocytic lymphohistiocytosis; and Kineret for the treatment of rheumatoid arthritis. In addition, the company manufactures drug substance for ReFacto AF; and develops BIVV001 and BIVV002 for the treatment of hemophilia. It operates in Sweden, the Middle East, North Africa, Russia, North America, other European countries, and internationally. The company has an agreement with Sanofi for the development and commercialization of Elocta and Alprolix, as well as XTEN-programs. Swedish Orphan Biovitrum AB (publ) is headquartered in Solna, Sweden. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 23:29
End of Day Share Price2020/03/31 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.