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Formycon

DB:FYB
Snowflake Description

Flawless balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FYB
DB
€308M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Formycon AG engages in the development and marketing of biosimilar products. The last earnings update was 218 days ago. More info.


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FYB Share Price and Events
7 Day Returns
0.6%
DB:FYB
-1.4%
DE Biotechs
2.4%
DE Market
1 Year Returns
-1.1%
DB:FYB
-10.6%
DE Biotechs
-6.2%
DE Market
FYB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Formycon (FYB) 0.6% 9.4% 23.6% -1.1% 54.1% 367.8%
DE Biotechs -1.4% 2.6% -7.7% -10.6% 54.2% 8%
DE Market 2.4% 3% 7.4% -6.2% 9.6% 14.1%
1 Year Return vs Industry and Market
  • FYB outperformed the Biotechs industry which returned -10.6% over the past year.
  • FYB outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
FYB
Industry
5yr Volatility vs Market

Value

 Is Formycon 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 Formycon 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 Formycon.

DB:FYB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
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:FYB
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 1.45
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.448 (1 + (1- 30%) (0%))
1.3
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.3
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.3 * 5.96%)
7.98%

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

The calculations below outline how an intrinsic value for Formycon 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:FYB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.98%)
2019 3.70 Est @ -42.05% 3.43
2020 2.50 Analyst x1 2.14
2021 7.70 Analyst x1 6.12
2022 47.80 Analyst x1 35.17
2023 25.70 Analyst x1 17.51
2024 18.15 Est @ -29.37% 11.45
2025 14.43 Est @ -20.49% 8.43
2026 12.37 Est @ -14.27% 6.70
2027 11.14 Est @ -9.92% 5.59
2028 10.38 Est @ -6.88% 4.82
Present value of next 10 years cash flows €101.35
DB:FYB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €10.38 × (1 + 0.23%) ÷ (7.98% – 0.23%)
€134.26
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €134.26 ÷ (1 + 7.98%)10
€62.33
DB:FYB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €101.35 + €62.33
€163.69
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €163.69 / 9.42
€17.37
DB:FYB Discount to Share Price
Calculation Result
Value per share (EUR) From above. €17.37
Current discount Discount to share price of €32.70
= -1 x (€32.70 - €17.37) / €17.37
-88.2%

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

  • The current share price of Formycon is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Formycon's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Formycon's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:FYB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in EUR €0.95
DB:FYB Share Price ** DB (2019-04-18) in EUR €32.7
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.41x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.67x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Formycon.

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

= DB:FYB Share Price ÷ EPS (both in EUR)

= 32.7 ÷ 0.95

34.27x

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

  • Formycon is overvalued based on earnings compared to the Europe Biotechs industry average.
  • Formycon is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Formycon's expected growth come at a high price?
Raw Data
DB:FYB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 34.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
26.5%per year
Europe Biotechs Industry PEG Ratio Median Figure of 22 Publicly-Listed Biotechs Companies 1.3x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

DB:FYB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 34.27x ÷ 26.5%

1.29x

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

  • Formycon is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Formycon's assets?
Raw Data
DB:FYB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in EUR €3.55
DB:FYB Share Price * DB (2019-04-18) in EUR €32.7
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.71x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.85x
DB:FYB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= DB:FYB Share Price ÷ Book Value per Share (both in EUR)

= 32.7 ÷ 3.55

9.22x

* Primary Listing of Formycon.

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

  • Formycon is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Formycon'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. Formycon has a total score of 0/6, 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.

Future Performance

 How is Formycon expected to perform in the next 1 to 3 years based on estimates from 3 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
26.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Formycon expected to grow at an attractive rate?
  • Formycon's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Formycon's earnings growth is expected to exceed the Germany market average.
  • Formycon's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:FYB Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:FYB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 26.5%
DB:FYB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 6.3%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 47.5%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
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:FYB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:FYB Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 5 27 -6 1
2022-12-31 126 49 68 1
2021-12-31 47 9 14 1
2020-12-31 40 4 0 2
2019-12-31 36 2 -3 3
2018-12-31 39 6 6 3
DB:FYB Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-06-30 45 8 9
2018-03-31 37 2 4
2017-12-31 29 -4 -2
2017-09-30 24 -3 -4
2017-06-30 19 -2 -6
2017-03-31 19 -4 -5
2016-12-31 20 -5 -4
2016-09-30 18 -4 -3
2016-06-30 16 -2 -2
2016-03-31 16 -1 -1
2015-12-31 17 1 1
2015-09-30 19 0 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Formycon's earnings are expected to grow significantly at over 20% yearly.
  • Formycon's revenue is expected to grow by 6.3% yearly, however this is not considered high growth (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:FYB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Formycon Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FYB Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 -0.65 -0.65 -0.65 1.00
2022-12-31 7.28 7.28 7.28 1.00
2021-12-31 1.50 1.50 1.50 1.00
2020-12-31 0.46 0.88 0.03 2.00
2019-12-31 -0.31 -0.16 -0.50 3.00
2018-12-31 0.65 0.77 0.43 3.00
DB:FYB Past Financials Data
Date (Data in EUR Millions) EPS *
2018-06-30 0.95
2018-03-31 0.39
2017-12-31 -0.17
2017-09-30 -0.39
2017-06-30 -0.64
2017-03-31 -0.54
2016-12-31 -0.45
2016-09-30 -0.34
2016-06-30 -0.24
2016-03-31 -0.09
2015-12-31 0.06
2015-09-30 0.03

*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.
  • Formycon is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Formycon'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.
Formycon has a total score of 5/6, 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.

Past Performance

  How has Formycon performed over the past 5 years?

  • Formycon's last earnings update was 218 days ago.
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 Formycon'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.
  • Formycon has delivered over 20% year on year earnings growth in the past 5 years.
  • Formycon has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Formycon has become profitable in the last year making it difficult to compare the Europe Biotechs industry average.
Earnings and Revenue History
Formycon'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 Formycon Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:FYB Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 45.50 8.92 6.71
2018-03-31 37.25 3.67 6.52
2017-12-31 29.00 -1.58 6.33
2017-09-30 23.94 -3.69 6.00
2017-06-30 18.87 -5.79 5.68
2017-03-31 19.20 -4.93 5.40
2016-12-31 19.53 -4.07 5.12
2016-09-30 17.70 -3.10 4.83
2016-06-30 15.87 -2.13 4.53
2016-03-31 16.40 -0.78 4.20
2015-12-31 16.92 0.58 3.86
2015-09-30 19.35 0.23 3.60
2015-06-30 21.78 -0.11 3.33
2015-03-31 17.18 0.37 3.11
2014-12-31 12.59 0.86 2.89
2013-12-31 0.28 -7.74 2.91

*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.
  • Formycon has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Formycon used its assets more efficiently than the Europe Biotechs industry average last year based on Return on Assets.
  • Formycon has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Formycon'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.
Formycon has a total score of 4/6, 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.

Health

 How is Formycon'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 Formycon's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Formycon is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Formycon's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Formycon'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.
  • Formycon has no debt, it does not need to be covered by short term assets.
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 Formycon Company Filings, last reported 9 months ago.

DB:FYB Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 33.13 0.00 11.82
2018-03-31 33.13 0.00 11.82
2017-12-31 25.54 0.00 15.48
2017-09-30 25.54 0.00 15.48
2017-06-30 17.98 0.00 14.42
2017-03-31 17.98 0.00 14.42
2016-12-31 20.89 0.00 13.97
2016-09-30 20.89 0.00 13.97
2016-06-30 23.70 0.00 17.79
2016-03-31 23.70 0.00 17.79
2015-12-31 24.87 0.00 20.30
2015-09-30 24.87 0.00 20.30
2015-06-30 25.76 0.00 20.56
2015-03-31 25.76 0.00 20.56
2014-12-31 13.11 0.00 9.22
2013-12-31 12.25 0.00 10.40
  • Formycon has no debt.
  • Formycon currently has no debt however we can't compare to 5 years ago as we have no data for that period.
  • Formycon has no debt, it does not need to be covered by operating cash flow.
  • Formycon has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Formycon'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. Formycon 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.

Dividends

 What is Formycon'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 Formycon dividends.
If you bought €2,000 of Formycon 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 Formycon's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Formycon'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:FYB 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 3 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 325 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
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:FYB 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
2018-12-31

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

  • Unable to perform a dividend volatility check as Formycon has not reported any payouts.
  • Unable to verify if Formycon's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Formycon's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Formycon 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 Formycon's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Formycon afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Formycon 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.

Management

 What is the CEO of Formycon'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
Carsten Brockmeyer
TENURE AS CEO 6 years
CEO Bio

Dr. Carsten Brockmeyer, PhD, has been Chief Executive Officer and Member of Executive Board at Formycon AG since April 16, 2013 and served as its Chairman of Executive Board. Dr. Brockmeyer has more than 20 years of international experience in the areas of biopharmaceutical research and drug development, in the negotiation of licensing agreements and strategic alliances and in the commercialization of new products. Dr. Brockmeyer served as Scientific Group Leader and Science Director at Baxter International from 1991 to 1998, where he was responsible for the development and quality control of various monoclonal antibodies. Since 1998, he served as Project Manager for biotechnology at HEXAL AG, where he oversaw the development of the first-ever biosimilar for epoetin alpha and for biosimilar filgrastim. Since 1999, he served as General Manager of HEXAL Biotech Forschung GmbH. He served as Head of Global Project Management at Sandoz Biopharmaceuticals, where he continued to direct the development of important biosimilars development projects at HEXAL/Sandoz. Dr. Brockmeyer has advised clients through his own consulting company, Brockmeyer Biopharma. He is the author of more than 100 scientific publications and credited with a number of patented inventions. His acclaimed work in the field of biopharmaceuticals has been recognized with prestigious scientific awards.

CEO Compensation
  • Insufficient data for Carsten to compare compensation growth.
  • Insufficient data for Carsten to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team

Carsten Brockmeyer

TITLE
CEO & Member of Executive Board
TENURE
6 yrs

Friedrich-Wilhelm Steinweg

TITLE
Co-Founder

Nicolas Combé

TITLE
Co-Founder

Stefan Glombitza

TITLE
COO & Member of Executive Board
AGE
53
TENURE
2.5 yrs
Board of Directors Tenure

Average tenure of the Formycon board of directors in years:

4.1
Average Tenure
  • The tenure for the Formycon board of directors is about average.
Board of Directors

Olaf Stiller

TITLE
Chairman of Supervisory Board
AGE
41

Hermann Vogt

TITLE
Deputy Chairman of Supervisory Board

Peter Wendeln

TITLE
Member of Supervisory Board

Gerhard Schaefer

TITLE
Member of Advisory Board
TENURE
5.4 yrs

Bernhard Hampl

TITLE
Member of Advisory Board
AGE
68
TENURE
5.1 yrs

Johannes Buchner

TITLE
Member of Advisory Board
TENURE
3.2 yrs

Thomas Siklosi

TITLE
Member of Advisory Board
TENURE
0.7 yrs
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 (€)
X
Management checks
We assess Formycon'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. Formycon 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.

News

Simply Wall St News

Should You Be Concerned About Formycon AG's (FRA:FYB) Historical Volatility?

If you're interested in Formycon AG (FRA:FYB), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility).

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Is Formycon's Share Price Gain Of 275% Well Earned?

One great example is Formycon AG (FRA:FYB) which saw its share price drive 275% higher over five years. … Sometimes, the start of profitability is a major inflection point that can signal fast earnings growth to come, which in turn justifies very strong share price gains. … Indeed, the Formycon share price has gained 27% in three years.

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Can Formycon AG (FRA:FYB) Maintain Its Strong Returns?

This article is for those who would like to learn about Return On Equity (ROE). … How Do You Calculate Return On Equity … Return on Equity = Net Profit ÷ Shareholders' Equity

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Is Formycon AG's (FRA:FYB) Balance Sheet Strong Enough To Weather A Storm?

The direct benefit for Formycon AG (FRA:FYB), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … However, the trade-off is FYB will have to adhere to stricter debt covenants and have less financial flexibility. … Is financial flexibility worth the lower cost of capital.

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Does Formycon AG (FRA:FYB) Have A Volatile Share Price?

Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider. … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

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How Formycon AG (FRA:FYB) Could Add Value To Your Portfolio

I've been keeping an eye on Formycon AG (FRA:FYB) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe FYB has a lot to offer. … is a company with

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Formycon AG (FRA:FYB): How Does It Impact Your Portfolio?

If you are looking to invest in Formycon AG’s (FRA:FYB), or currently own the stock, then you need to understand its beta in order to understand how it can affect the risk of your portfolio. … Broadly speaking, there are two types of risk you should consider when investing in stocks such as FYB. … The second type is market risk, one that you cannot diversify away, since it arises from macroeconomic factors which directly affects all the stocks in the market.

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What You Must Know About Formycon AG's (FRA:FYB) Major Investors

In this analysis, my focus will be on developing a perspective on Formycon AG’s (DB:FYB) latest ownership structure, a less discussed, but important factor. … View our latest analysis for Formycon DB:FYB Ownership_summary May 10th 18 Institutional Ownership Due to the big order sizes of institutional investors, a company's shares can experience large, one-sided momentum, driven by high volume of shares removed from, or injected into, the market. … However, if you are building an investment case for FYB, ownership structure alone should not dictate your decision to buy or sell the stock.

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Interested In Healthcare? Take A Look At Formycon AG (FRA:FYB)

This rate is larger than the growth rate of the DE stock market as a whole. … This future growth may make Formycon a more expensive stock relative to its peers. … If Formycon has been on your watchlist for a while, now may be the time to enter into the stock, if you like its growth prospects and are not highly concentrated in the biotech industry.

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Formycon AG (FRA:FYB): What Does It Mean For Your Portfolio?

A stock with a beta greater than one is expected to exhibit higher volatility resulting from market-wide shocks compared to one with a beta below one. … An asset-heavy company tends to have a higher beta because the risk associated with running fixed assets during a downturn is highly expensive. … As a result, the company may be less volatile relative to broad market movements, compared to a company of similar size but higher proportion of fixed assets.

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Company Info

Description

Formycon AG engages in the development and marketing of biosimilar products. The company’s product pipeline includes FYB201, a biosimilar candidate for Lucentis 1, an ophthalmic drug used in the treatment of neovascular age-related macular degeneration and other serious eye diseases that is in the Phase III clinical trials; FYB202, a biosimilar candidate for Stelara 2, a biopharmaceutical used in the treatment of inflammatory diseases, such as moderate to severe psoriasis, as well as for the treatment of Crohn's disease, which is in the preclinical study; and FYB203, a biosimilar candidate for Eylea 3, like Lucentis, Eylea, used to treat neovascular age-related macular degeneration and other eye diseases that is in the preclinical study. The company was formerly known as Nanohale AG and changed its name to Formycon AG in 2012. Formycon AG was founded in 1999 and is based in Planegg, Germany.

Details
Name: Formycon AG
FYB
Exchange: DB
Founded: 1999
€308,119,118
9,422,603
Website: http://www.formycon.com
Address: Formycon AG
Fraunhoferstrasse 15,
Martinsried,
Planegg,
Bavaria, 82152,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
DB FYB Bearer Shares Deutsche Boerse AG DE EUR 20. Dec 2010
XTRA FYB Bearer Shares XETRA Trading Platform DE EUR 20. Dec 2010
LSE 0W4N Bearer Shares London Stock Exchange GB EUR 20. Dec 2010
Number of employees
Current staff
Staff numbers
91
Formycon employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:32
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/01
Last earnings filing: 2018/09/13
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


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.