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Kadmon Holdings

DB:KDF
Snowflake Description

Flawless balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KDF
DB
$292M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Kadmon Holdings, Inc., a biopharmaceutical company, discovers, develops, and commercializes small molecules and biologics primarily for the treatment of inflammatory and fibrotic diseases. The last earnings update was 43 days ago. More info.


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  • Kadmon Holdings has significant price volatility in the past 3 months.
KDF Share Price and Events
7 Day Returns
-12.9%
DB:KDF
-1.4%
DE Biotechs
2.4%
DE Market
1 Year Returns
-38%
DB:KDF
-10.6%
DE Biotechs
-6.2%
DE Market
KDF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kadmon Holdings (KDF) -12.9% -18.1% -3.5% -38% - -
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
  • KDF underperformed the Biotechs industry which returned -10.6% over the past year.
  • KDF underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
KDF
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Kadmon Holdings 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 Kadmon Holdings 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 Kadmon Holdings.

DB:KDF Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.4%
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:KDF
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- 21%) (9.41%))
1.372
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.37
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.372 * 5.96%)
8.41%

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

The calculations below outline how an intrinsic value for Kadmon Holdings 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:KDF DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.41%)
2019 -81.80 Analyst x1 -75.46
2020 -81.80 Analyst x1 -69.61
2021 -91.80 Analyst x1 -72.06
2022 -19.60 Analyst x1 -14.19
2023 9.80 Analyst x1 6.55
2024 14.50 Est @ 47.96% 8.93
2025 19.38 Est @ 33.64% 11.01
2026 23.96 Est @ 23.62% 12.56
2027 27.93 Est @ 16.6% 13.51
2028 31.20 Est @ 11.69% 13.92
Present value of next 10 years cash flows $-164.83
DB:KDF DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $31.20 × (1 + 0.23%) ÷ (8.41% – 0.23%)
$382.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $382.38 ÷ (1 + 8.41%)10
$170.61
DB:KDF Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $-164.83 + $170.61
$5.77
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $5.77 / 126.91
$0.05
DB:KDF Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:KDF represents 0.89783x of NYSE:KDMN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89783x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 0.05 x 0.89783
€0.04
Value per share (EUR) From above. €0.04
Current discount Discount to share price of €2.07
= -1 x (€2.07 - €0.04) / €0.04
-4955%

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

  • The current share price of Kadmon Holdings 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 Kadmon Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kadmon Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:KDF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.58
NYSE:KDMN Share Price ** NYSE (2019-04-18) in USD $2.3
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 Kadmon Holdings.

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

= NYSE:KDMN Share Price ÷ EPS (both in USD)

= 2.3 ÷ -0.58

-3.99x

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

  • Kadmon Holdings is loss making, we can't compare its value to the Europe Biotechs industry average.
  • Kadmon Holdings is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Kadmon Holdings's expected growth come at a high price?
Raw Data
DB:KDF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
64.1%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 .

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

  • Unable to calculate PEG ratio for Kadmon Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Kadmon Holdings's assets?
Raw Data
DB:KDF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $0.41
NYSE:KDMN Share Price * NYSE (2019-04-18) in USD $2.3
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:KDF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:KDMN Share Price ÷ Book Value per Share (both in USD)

= 2.3 ÷ 0.41

5.63x

* Primary Listing of Kadmon Holdings.

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

  • Kadmon Holdings is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Kadmon Holdings'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. Kadmon Holdings 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 Kadmon Holdings expected to perform in the next 1 to 3 years based on estimates from 2 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
64.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kadmon Holdings expected to grow at an attractive rate?
  • Kadmon Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Kadmon Holdings's earnings growth is expected to exceed the Germany market average.
  • Kadmon Holdings's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:KDF Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:KDF Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 64.1%
DB:KDF Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 61.9%
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:KDF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:KDF Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,046 743 2
2022-12-31 617 388 2
2021-12-31 348 157 2
2020-12-31 28 -84 2
2019-12-31 4 -78 2
DB:KDF Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1 -71 -56
2018-09-30 3 -71 -33
2018-06-30 5 -68 -41
2018-03-31 7 -66 -85
2017-12-31 12 -64 -82
2017-09-30 15 -61 -85
2017-06-30 18 -64 -201
2017-03-31 22 -56 -215
2016-12-31 26 -53 -230
2016-09-30 30 -52 -243
2016-06-30 35 -52 -187
2016-03-31 38 -61 -152

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kadmon Holdings's earnings are expected to grow significantly at over 20% yearly.
  • Kadmon Holdings'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:KDF 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 2 Analyst Estimates (S&P Global) See Below

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

DB:KDF Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 6.10 12.25 -0.05 2.00
2022-12-31 3.23 6.73 -0.27 2.00
2021-12-31 1.37 3.54 -0.81 2.00
2020-12-31 -0.72 -0.60 -0.84 2.00
2019-12-31 -0.67 -0.57 -0.77 2.00
DB:KDF Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.58
2018-09-30 -0.37
2018-06-30 -0.55
2018-03-31 -1.29
2017-12-31 -1.42
2017-09-30 -1.73
2017-06-30 -4.56
2017-03-31 -6.48
2016-12-31 -9.74
2016-09-30 -16.83
2016-06-30 -22.52
2016-03-31 -18.33

*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 Kadmon Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Kadmon Holdings'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.
Kadmon Holdings 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 Kadmon Holdings 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 Kadmon Holdings'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.
  • Kadmon Holdings does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Kadmon Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Kadmon Holdings's 1-year growth to the Europe Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Kadmon Holdings'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 Kadmon Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KDF Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1.40 -56.26 37.64 48.97
2018-09-30 2.63 -32.91 34.65 42.38
2018-06-30 4.53 -40.79 34.10 42.23
2018-03-31 7.13 -84.59 35.19 42.11
2017-12-31 12.26 -81.69 37.06 40.78
2017-09-30 15.08 -84.87 47.26 38.82
2017-06-30 18.50 -201.10 83.87 36.67
2017-03-31 21.96 -215.35 93.11 35.20
2016-12-31 26.06 -230.49 100.18 35.84
2016-09-30 29.72 -243.10 107.53 37.52
2016-06-30 35.31 -186.76 90.81 36.32
2016-03-31 37.66 -152.25 92.51 35.77
2015-12-31 35.72 -147.08 94.39 33.56
2015-09-30 54.65 -131.64 96.73 31.89
2014-12-31 95.02 -64.36 89.32 32.95
2013-12-31 51.32 -105.29 86.26 25.64

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

Health

 How is Kadmon Holdings'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 Kadmon Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kadmon Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kadmon Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kadmon Holdings'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 3.6x 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 Kadmon Holdings Company Filings, last reported 3 months ago.

DB:KDF Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 88.41 27.48 94.74
2018-09-30 127.88 27.39 113.35
2018-06-30 138.85 28.05 131.47
2018-03-31 7.93 33.08 49.17
2017-12-31 1.76 33.71 67.52
2017-09-30 5.43 33.19 73.61
2017-06-30 -38.28 32.68 26.23
2017-03-31 -19.62 32.16 43.05
2016-12-31 -25.19 30.58 36.09
2016-09-30 -8.76 32.88 55.00
2016-06-30 -339.18 229.28 5.54
2016-03-31 -302.71 221.59 8.60
2015-12-31 -270.91 214.62 21.50
2015-09-30 -240.70 187.91 7.70
2014-12-31 -155.42 164.91 20.99
2013-12-31 -101.99 184.59 32.79
  • Kadmon Holdings's level of debt (31.1%) compared to net worth is satisfactory (less than 40%).
  • Kadmon Holdings 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.

  • Kadmon Holdings has sufficient cash runway for 1.3 years based on current free cash flow.
  • Kadmon Holdings has sufficient cash runway for 1.3 years if free cash flow continues to grow at historical rates of 8.7% each year.
X
Financial health checks
We assess Kadmon Holdings'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. Kadmon Holdings 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 Kadmon Holdings'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 Kadmon Holdings dividends. Estimated to be 0% next year.
If you bought €2,000 of Kadmon Holdings 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 Kadmon Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Kadmon Holdings'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:KDF 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 2 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:KDF 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 0.00 1.00
2019-12-31 0.00 1.00

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

  • Unable to perform a dividend volatility check as Kadmon Holdings has not reported any payouts.
  • Unable to verify if Kadmon Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Kadmon Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Kadmon Holdings has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Kadmon Holdings's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Kadmon Holdings'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 Kadmon Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kadmon Holdings 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 Kadmon Holdings'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
Harlan Waksal
COMPENSATION $2,607,699
AGE 65
TENURE AS CEO 4.7 years
CEO Bio

Dr. Harlan W. Waksal, M.D., has been the Chief Executive Officer and President of Kadmon Holdings, Inc. since September 2014. Dr. Waksal has been the President and Sole Proprietor of Waksal Consulting L.L.C. since July 2003. Dr. Waksal served as an Executive Vice President of Acasti Pharma Inc. until October 2014. and previously served as its Executive Vice President of Business & Scientific Affairs since July 21, 2011. He served various positions at ImClone from 1987 to 2003. Dr. Waksal Co-founded ImClone Systems LLC in 1984 and served as its Chief Scientific Officer since April 29, 2003. From March 1987 to April 1994, Dr. Waksal served as the President at the firm. From March 1987 to May 2002, he served as the Chief Operating Officer and Executive Vice President at ImClone Systems Corporation and also served as its Chief Executive Officer from May 2002 to July 2003. Dr. Waksal was instrumental in guiding the development and obtaining FDA approval for a new targeted biologic cancer therapy known as Erbitux. From 1984 to 1985, he served as the Chief Resident in Pathology at Kings County Hospital. He served as the Chairman of Sevion Therapeutics, Inc. (alternate name Senesco Technologies Inc) since June 8, 2009 until March 2016 and served as its Director since October 2008 until March 2016. He has been a Director at Kadmon Holdings, Inc. since 2013. Dr. Waksal serves as a Member of the Advisory Board of Roadmap Capital Inc. He serves on the Technology Advisory Board for New Jersey Edison Innovation Fund. Dr. Waksal served as a Director of Acasti Pharma Inc. since June 28, 2013 until February 29, 2016. He served as a Director of ImClone Systems LLC from April 1984 to January 2005. He served as a Director of Neptune Technologies & Bioresources, Inc. from May 23, 2012 to July 14, 2015. Dr. Waksal served as a Director at NeuroBiopharm Inc. He serves on the Board of Directors of Oberlin College and is a Member of the Board of Trustees of The Montclair Art Museum. Dr. Waksal is an Adjunct Assistant Professor in the Department of Pathology at Downstate Medical Center, New York. He is involved in the execution of the strategic development plan, especially in the clinical development program. He is also involved in other scientific operations as well as in business development. Dr. Waksal is the Inventor of multiple patents and patent applications. He is a Physician. He is the author of 50 published scientific papers, many in the area of oncology. Dr. Waksal has over 30 years of executive and governance leadership in the life sciences. Dr. Waksal received his training in Internal Medicine from Tufts-New England Medical Center Hospital and in Pathology from Kings County Hospital in Brooklyn, New York from 1982 to 1987. He received a Bachelor of Arts in Biology from Oberlin College in 1975. Dr. Waksal received his Medical Degree from Tufts University School of Medicine in 1979.

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

Average tenure and age of the Kadmon Holdings management team in years:

2.6
Average Tenure
58
Average Age
  • The tenure for the Kadmon Holdings management team is about average.
Management Team

Harlan Waksal

TITLE
President
COMPENSATION
$3M
AGE
65
TENURE
4.7 yrs

Steven Meehan

TITLE
Executive VP & CFO
COMPENSATION
$120K
AGE
53
TENURE
0.2 yrs

Steven Gordon

TITLE
Chief Administrative
COMPENSATION
$1M
AGE
50
TENURE
10.3 yrs

Cynthia Schwalm

TITLE
Director
AGE
58
TENURE
0.3 yrs

Kyle Carver

TITLE
Controller & Principal Accounting Officer
TENURE
0.5 yrs

John Ryan

TITLE
Chief Medical Officer & Executive VP
AGE
75
TENURE
8.3 yrs
Board of Directors Tenure

Average tenure and age of the Kadmon Holdings board of directors in years:

6.3
Average Tenure
65
Average Age
  • The tenure for the Kadmon Holdings board of directors is about average.
Board of Directors

Tasos Konidaris

TITLE
Interim Chairman
COMPENSATION
$176K
AGE
51
TENURE
0.3 yrs

Harlan Waksal

TITLE
President
COMPENSATION
$3M
AGE
65
TENURE
6.3 yrs

Cynthia Schwalm

TITLE
Director
AGE
58
TENURE
0.3 yrs

Gene Bauer

TITLE
Director
COMPENSATION
$123K
AGE
76
TENURE
9.3 yrs

Dennie Boardman

TITLE
Director
COMPENSATION
$198K
AGE
72
TENURE
9.3 yrs

Jeff Bluestone

TITLE
Member of Scientific Advisory Board
AGE
64

Irun Cohen

TITLE
Member of Scientific Advisory Board

Charles Dinarello

TITLE
Member of Scientific Advisory Board
AGE
75

Arnie Levine

TITLE
Member of Scientific Advisory Board
AGE
78

Dan Littman

TITLE
Member of Scientific Advisory Board
AGE
65
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 (€)
18. Jun 18 Sell GoldenTree Asset Management, LP Company 16. Apr 18 14. Jun 18 -960,626 €3.73 €-3,366,012
X
Management checks
We assess Kadmon Holdings'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. Kadmon Holdings 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

Company Info

Description

Kadmon Holdings, Inc., a biopharmaceutical company, discovers, develops, and commercializes small molecules and biologics primarily for the treatment of inflammatory and fibrotic diseases. The company markets and distributes products in various therapeutic areas, including ribavirin products for chronic hepatitis C virus infection; and distributes products in various therapeutic areas, including tetrabenazine for the treatment of chorea associated with Huntington’s disease. Its lead product candidates include KD025, an inhibitor of the rho-associated coiled-coil kinase 2, which is in Phase II clinical studies for the treatment of chronic graft-versus-host, fibrotic, and psoriasis diseases; KD045, an ROCK inhibitor for the treatment of fibrotic diseases; KD033, an anti-PD-L1/IL-15 fusion protein for the treatment of cancer; and KD034, a generic formulation of trientine hydrochloride for the treatment of Wilson’s disease, a genetic liver disease. The company also engages in developing Tesevatinib to treat autosomal dominant polycystic kidney disease (PKD) and autosomal recessive PKD. Kadmon Holdings, Inc. has strategic collaborations and license agreements with Symphony Evolution, Inc.; Nano Terra, Inc.; Dyax Corp.; Zydus Pharmaceuticals USA, Inc.; and Jinghua Pharmaceutical Group Co., Ltd. The company is headquartered in New York, New York.

Details
Name: Kadmon Holdings, Inc.
KDF
Exchange: DB
Founded:
$259,550,277
126,909,522
Website: http://www.kadmon.com
Address: Kadmon Holdings, Inc.
450 East 29th Street,
New York,
New York, 10016,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE KDMN Common Stock New York Stock Exchange US USD 27. Jul 2016
DB KDF Common Stock Deutsche Boerse AG DE EUR 27. Jul 2016
Number of employees
Current staff
Staff numbers
116
Kadmon Holdings employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 22:08
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/03/12
Last earnings filing: 2019/03/07
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.