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MorphoSys Valuation

Is MOR2 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MOR2 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate MOR2's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate MOR2's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MOR2?

Key metric: As MOR2 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for MOR2. This is calculated by dividing MOR2's market cap by their current revenue.
What is MOR2's PS Ratio?
PS Ratio	10.5x
Sales	€241.47m
Market Cap	€2.53b

MOR2 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	17.1x
Enterprise Value/EBITDA	-9.3x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does MOR2's PS Ratio compare to its peers?

The above table shows the PS ratio for MOR2 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	7.7x
BIO3 Biotest	1.5x	3.6%	€1.4b
FYB Formycon	13.9x	33.4%	€844.9m
HPHA Heidelberg Pharma	12.6x	16.6%	€106.7m
MDG1 Medigene	2.8x	13.3%	€20.6m
MOR2 MorphoSys	10.5x	26.2%	€2.5b

Price-To-Sales vs Peers: MOR2 is expensive based on its Price-To-Sales Ratio (10.5x) compared to the peer average (7.4x).

Price to Sales Ratio vs Industry

How does MOR2's PS Ratio compare vs other companies in the DE Biotechs Industry?

6 Companies	Price / Sales	Estimated Growth	Market Cap
CNW co.don	0.7x	n/a	US$6.97m
V9Z Aceragen	0.4x	n/a	US$3.12m
PA8 Paion	0.2x	30.2%	US$2.78m
V9Z Aceragen	0.3x	-161.8%	US$2.18m

6 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: MOR2 is expensive based on its Price-To-Sales Ratio (10.5x) compared to the European Biotechs industry average (9x).

Price to Sales Ratio vs Fair Ratio

What is MOR2's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MOR2 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	10.5x
Fair PS Ratio	7.7x

Price-To-Sales vs Fair Ratio: MOR2 is expensive based on its Price-To-Sales Ratio (10.5x) compared to the estimated Fair Price-To-Sales Ratio (7.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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