DB:KDF

Stock Analysis Report

Executive Summary

Kadmon Holdings, Inc., a biopharmaceutical company, discovers, develops, and commercializes small molecules and biologics primarily for the treatment of inflammatory and fibrotic diseases.


Snowflake Analysis

Flawless balance sheet and slightly overvalued.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: KDF has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-21.3%

KDF

-11.1%

DE Biotechs

-9.1%

DE Market


1 Year Return

44.0%

KDF

-2.9%

DE Biotechs

2.9%

DE Market

Return vs Industry: KDF exceeded the German Biotechs industry which returned -2.9% over the past year.

Return vs Market: KDF exceeded the German Market which returned 2.9% over the past year.


Shareholder returns

KDFIndustryMarket
7 Day-21.3%-11.1%-9.1%
30 Day-12.3%-12.8%-7.2%
90 Day-5.1%-9.6%-6.5%
1 Year44.0%44.0%-2.7%-2.9%6.1%2.9%
3 Year9.8%9.8%25.8%24.4%3.5%-5.6%
5 Yearn/a1.6%-0.5%8.0%-6.8%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KDF (€4.02) is trading below our estimate of fair value (€12.67)

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


Price To Earnings Ratio

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

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


Price to Book Ratio

PB vs Industry: KDF is overvalued based on its PB Ratio (15.1x) compared to the DE Biotechs industry average (3.2x).


Next Steps

Future Growth

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

41.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

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

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

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

Revenue vs Market: KDF's revenue (58.6% per year) is forecast to grow faster than the German market (5.1% per year).

High Growth Revenue: KDF's revenue (58.6% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if KDF's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Kadmon Holdings performed over the past 5 years?

23.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KDF is currently unprofitable.

Growing Profit Margin: KDF is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: KDF is unprofitable, but has reduced losses over the past 5 years at a rate of 23.4% per year.

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

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


Return on Equity

High ROE: KDF has a negative Return on Equity (-113.77%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Kadmon Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: KDF's short term assets ($124.5M) exceed its short term liabilities ($54.3M).

Long Term Liabilities: KDF's short term assets ($124.5M) exceed its long term liabilities ($21.4M).


Debt to Equity History and Analysis

Debt Level: KDF's debt to equity ratio (34.7%) is considered satisfactory.

Reducing Debt: KDF had negative shareholder equity 5 years ago, but is now positive and has therefore improved.


Balance Sheet

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

Debt Coverage by Assets: KDF's debt is covered by short term assets (assets are 4.5x 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: KDF has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: KDF has sufficient cash runway for 1.3 years if free cash flow continues to reduce at historical rates of -18.5% each year.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.9%industryaverage1.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

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

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

1.7yrs

Average management tenure


CEO

Harlan Waksal (66yo)

5.5yrs

Tenure

US$3,738,843

Compensation

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. ...


CEO Compensation Analysis

Compensation vs Market: Harlan's total compensation ($USD3.74M) is above average for companies of similar size in the German market ($USD1.33M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Harlan Waksal
President5.5yrsUS$3.74m0.075% $473.0k
Steven Meehan
Executive VP & CFO1yrsUS$91.52kno data
Kyle Carver
Controller & Principal Accounting Officer1.3yrsno data0.00037% $2.3k
Ellen Cavaleri
Director of Investor Relations0yrsno datano data
Gregory Moss
Executive VP0.5yrsno data0.0013% $8.0k
John Ryan
Chief Medical Officer & Executive VP9.1yrsno datano data
Sanjay Aggarwal
Senior Vice President of Clinical Development0yrsno datano data
Haya Taitel
Senior VP & Chief Commercial Officer2.1yrsno datano data

1.7yrs

Average Tenure

60yo

Average Age

Experienced Management: KDF's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Harlan Waksal
President5.5yrsUS$3.74m0.075% $473.0k
Arnold Levine
Member of Scientific Advisory Board0yrsno datano data
Eugene Bauer
Independent Director10.1yrsUS$101.02k0.0043% $27.3k
Dennie Boardman
Independent Director10.1yrsUS$112.02k0.029% $186.2k
Jeffrey Bluestone
Member of Scientific Advisory Board0yrsno datano data
Charles Dinarello
Member of Scientific Advisory Board0yrsno datano data
Daniel Littman
Member of Scientific Advisory Board0yrsno datano data
Irun Cohen
Member of Scientific Advisory Board0yrsno datano data
Anastasios Konidaris
Chairman of the Board1.1yrsUS$142.53kno data
David MacMillan
Member of Scientific Advisory Board0yrsno datano data

8.6yrs

Average Tenure

69.5yo

Average Age

Experienced Board: KDF's board of directors are considered experienced (8.6 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 40.1%.


Top Shareholders

Company Information

Kadmon Holdings, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Kadmon Holdings, Inc.
  • Ticker: KDF
  • Exchange: DB
  • Founded:
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$694.130m
  • Listing Market Cap: US$631.172m
  • Shares outstanding: 155.63m
  • Website: https://www.kadmon.com

Number of Employees


Location

  • Kadmon Holdings, Inc.
  • 450 East 29th Street
  • New York
  • New York
  • 10016
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KDMNNYSE (New York Stock Exchange)YesCommon StockUSUSDJul 2016
KDFDB (Deutsche Boerse AG)YesCommon StockDEEURJul 2016

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 23:49
End of Day Share Price2020/02/28 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.