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Paion

DB:PA8
Snowflake Description

Flawless balance sheet with exceptional growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PA8
DB
€142M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Paion AG, a specialty pharmaceutical company, develops and commercializes drugs for use in out-patient and hospital-based sedation, anesthesia, and critical care services worldwide. The last earnings update was 35 days ago. More info.


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PA8 Share Price and Events
7 Day Returns
0.9%
DB:PA8
-0.1%
DE Biotechs
1%
DE Market
1 Year Returns
-0.7%
DB:PA8
-7.4%
DE Biotechs
-5.6%
DE Market
PA8 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Paion (PA8) 0.9% 1.9% -6.6% -0.7% 8.6% -31.3%
DE Biotechs -0.1% 6% -6.7% -7.4% 53.2% 11.6%
DE Market 1% 6.1% 8.4% -5.6% 10.9% 13.8%
1 Year Return vs Industry and Market
  • PA8 outperformed the Biotechs industry which returned -7.4% over the past year.
  • PA8 outperformed the Market in Germany which returned -5.6% over the past year.
Price Volatility
PA8
Industry
5yr Volatility vs Market

Value

 Is Paion 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 Paion 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 Paion.

DB:PA8 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:PA8
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))
= 1.453 (1 + (1- 30%) (0%))
1.303
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% + (1.303 * 5.96%)
8%

Discounted Cash Flow Calculation for DB:PA8 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Paion 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:PA8 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8%)
2019 -2.04 Analyst x1 -1.89
2020 4.74 Analyst x2 4.06
2021 7.73 Analyst x1 6.14
2022 10.34 Est @ 33.73% 7.60
2023 12.78 Est @ 23.68% 8.70
2024 14.91 Est @ 16.64% 9.40
2025 16.66 Est @ 11.72% 9.72
2026 18.04 Est @ 8.27% 9.75
2027 19.10 Est @ 5.86% 9.56
2028 19.89 Est @ 4.17% 9.22
Present value of next 10 years cash flows €72.25
DB:PA8 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €19.89 × (1 + 0.23%) ÷ (8% – 0.23%)
€256.64
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €256.64 ÷ (1 + 8%)10
€118.91
DB:PA8 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €72.25 + €118.91
€191.16
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €191.16 / 63.86
€2.99
DB:PA8 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:PA8 represents 0.99099x of XTRA:PA8
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99099x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 2.99 x 0.99099
€2.97
Value per share (EUR) From above. €2.97
Current discount Discount to share price of €2.20
= -1 x (€2.20 - €2.97) / €2.97
25.8%

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

Current Discount
Amount off the current price Paion is available for.
Intrinsic value
26%
Share price is €2.2 vs Future cash flow value of €2.97
Current Discount Checks
For Paion to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Paion's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Paion's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Paion's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Paion's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PA8 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €-0.16
XTRA:PA8 Share Price ** XTRA (2019-04-24) in EUR €2.22
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.73x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.72x

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

** Primary Listing of Paion.

DB:PA8 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:PA8 Share Price ÷ EPS (both in EUR)

= 2.22 ÷ -0.16

-13.96x

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

  • Paion is loss making, we can't compare its value to the Europe Biotechs industry average.
  • Paion is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Paion's expected growth come at a high price?
Raw Data
DB:PA8 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -13.96x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
90.9%per year
Europe Biotechs Industry PEG Ratio Median Figure of 22 Publicly-Listed Biotechs Companies 1.3x
Germany Market PEG Ratio Median Figure of 269 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 Paion, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Paion's assets?
Raw Data
DB:PA8 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €0.33
XTRA:PA8 Share Price * XTRA (2019-04-24) in EUR €2.22
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.72x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
DB:PA8 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:PA8 Share Price ÷ Book Value per Share (both in EUR)

= 2.22 ÷ 0.33

6.81x

* Primary Listing of Paion.

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

  • Paion is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Paion'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. Paion has a total score of 1/6, 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 Paion 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
90.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Paion expected to grow at an attractive rate?
  • Paion's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Paion's earnings growth is expected to exceed the Germany market average.
  • Paion's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PA8 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PA8 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 90.9%
DB:PA8 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 64.1%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 47.6%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
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:PA8 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:PA8 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 47 8 17 1
2020-12-31 24 5 9 3
2019-12-31 9 -2 -7 3
DB:PA8 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 3 -13 -10
2018-09-30 1 -15 -12
2018-06-30 2 -17 -13
2018-03-31 4 -14 -13
2017-12-31 6 -18 -12
2017-09-30 7 -19 -13
2017-06-30 8 -10 -13
2017-03-31 6 -11 -16
2016-12-31 4 -12 -20
2016-09-30 2 -14 -24
2016-06-30 0 -24 -30
2016-03-31 0 -28 -30

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Paion's earnings are expected to grow significantly at over 20% yearly.
  • Paion'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:PA8 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 3 Analyst Estimates (S&P Global) See Below

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

DB:PA8 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.26 0.26 0.26 1.00
2020-12-31 0.14 0.31 0.00 3.00
2019-12-31 -0.11 -0.09 -0.13 2.00
DB:PA8 Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 -0.16
2018-09-30 -0.19
2018-06-30 -0.21
2018-03-31 -0.21
2017-12-31 -0.20
2017-09-30 -0.22
2017-06-30 -0.22
2017-03-31 -0.29
2016-12-31 -0.38
2016-09-30 -0.47
2016-06-30 -0.60
2016-03-31 -0.60

*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.
  • Paion is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Paion'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.
Paion has a total score of 6/6, 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 Paion 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 Paion'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.
  • Paion does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Paion's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Paion's 1-year growth to the Europe Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Paion'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 Paion Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PA8 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2.77 -9.94 3.41 12.17
2018-09-30 1.47 -12.35 3.60 13.44
2018-06-30 2.25 -12.57 3.61 14.47
2018-03-31 4.02 -13.00 3.62 17.13
2017-12-31 5.81 -12.09 3.83 17.85
2017-09-30 7.13 -12.56 3.73 20.51
2017-06-30 8.15 -12.69 3.86 21.18
2017-03-31 6.31 -15.61 4.95 20.99
2016-12-31 4.26 -20.12 5.13 23.41
2016-09-30 2.26 -23.88 5.38 24.91
2016-06-30 0.23 -30.08 6.25 29.56
2016-03-31 0.04 -30.24 5.57 30.12
2015-12-31 0.07 -28.21 5.73 29.38
2015-09-30 1.61 -23.16 5.53 25.78
2015-06-30 1.97 -16.61 4.54 19.48
2015-03-31 3.49 -11.60 4.16 15.96
2014-12-31 3.46 -9.10 3.70 11.80
2014-09-30 4.59 -5.05 3.55 8.32
2014-06-30 4.53 -3.86 3.37 6.85
2014-03-31 3.01 -3.77 3.25 5.29
2013-12-31 4.23 -2.21 3.31 4.58
2013-09-30 3.53 -3.44 3.59 3.92
2013-06-30 5.23 -2.06 4.07 3.49
2013-03-31 16.63 7.42 4.42 3.26
2012-12-31 26.81 16.01 4.71 3.25
2012-09-30 24.99 7.32 4.64 3.87
2012-06-30 23.23 5.09 4.50 4.48

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Paion is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Paion has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Paion'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.
  • Paion 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 Paion Company Filings, last reported 3 months ago.

DB:PA8 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 20.82 0.00 17.23
2018-09-30 24.19 0.00 23.27
2018-06-30 24.19 0.00 23.27
2018-03-31 25.23 0.00 24.84
2017-12-31 25.23 0.00 24.84
2017-09-30
2017-06-30 23.70 0.00 27.12
2017-03-31 24.94 0.00 30.11
2016-12-31 24.94 0.00 30.11
2016-09-30 31.36 0.00 32.10
2016-06-30 31.36 0.00 32.10
2016-03-31 35.56 0.00 32.68
2015-12-31 35.56 0.00 32.68
2015-09-30 43.10 0.00 40.54
2015-06-30 52.15 0.00 46.96
2015-03-31 58.48 0.00 53.19
2014-12-31 62.61 0.00 58.91
2014-09-30 65.24 0.00 62.88
2014-06-30 20.56 0.00 18.70
2014-03-31 21.92 0.00 20.64
2013-12-31 13.33 0.00 13.29
2013-09-30
2013-06-30 13.22 0.00 14.16
2013-03-31 15.57 6.98 22.34
2012-12-31 15.57 6.98 22.34
2012-09-30 15.57 6.98 22.34
2012-06-30 15.52 6.95 21.70
  • Paion has no debt.
  • Paion had no debt 5 years ago.
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.

  • Paion has sufficient cash runway for 1.3 years based on current free cash flow.
  • Paion has sufficient cash runway for 1.4 years if free cash flow continues to reduce at historical rates of -19.6% each year.
X
Financial health checks
We assess Paion'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. Paion 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 Paion'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 Paion dividends. Estimated to be 0% next year.
If you bought €2,000 of Paion 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 Paion's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Paion'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:PA8 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 327 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:PA8 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
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 Paion has not reported any payouts.
  • Unable to verify if Paion's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Paion's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Paion has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Paion's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Paion'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 Paion afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Paion 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 Paion'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
Wolfgang Söhngen
COMPENSATION €597,301
TENURE AS CEO 3.3 years
CEO Bio

Dr. Wolfgang Söhngen founded Paion AG in 2004 and serves as its Chief Executive Officer since December 31, 2015. Dr. Söhngen serves as the Chairman of Management Board at Paion AG. Dr. Söhngen is responsible for the areas of investor relations, business development and strategic planning. He co-founded PAION Deutschland GmbH in 2000 and serves as its Managing Director. He is a Co-Owner of Dres. Sohngen Beteiligungs GmbH & Co. KG. He initially worked as pharmaceutical representative at Pfizer Pharma GmbH. He returned to Germany and was employed at Grünenthal GmbH, where his tasks included clinical development, project management, corporate development and strategic planning. In 1997 he founded his own consulting firm Virtueality which specialised in healthcare and clinical development. After two years as an intern in internal medicine at a teaching hospital he took on a post-doc position in cardiovascular pharmacology from 1986 to 1987 at the University of Michigan, Ann Arbor (USA). In 1996 he received a Diploma in Pharmaceutical Medicine (DGP harMed) in recognition for his broad and hands-on experience in drug development. He obtained a Master of Business Communication in 1999. Dr. Söhngen received a PhD degree in 1985, after having graduated from the RWTH Aachen Medical School in 1984.

CEO Compensation
  • Wolfgang's compensation has increased whilst company is loss making.
  • Wolfgang's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Paion management team in years:

3.3
Average Tenure
  • The tenure for the Paion management team is about average.
Management Team

Wolfgang Söhngen

TITLE
Founder
COMPENSATION
€597K
TENURE
3.3 yrs

Abdelghani Omari

TITLE
CFO & Member of Management Board
COMPENSATION
€387K
AGE
41
TENURE
4.6 yrs

Jürgen Beck

TITLE
Chief Development Officer & Member of Management Board
COMPENSATION
€422K
TENURE
1.3 yrs

Ralf Penner

TITLE
Vice President of Investor Relations & Public Relations
Board of Directors Tenure

Average tenure and age of the Paion board of directors in years:

3.4
Average Tenure
58.5
Average Age
  • The tenure for the Paion board of directors is about average.
Board of Directors

Jörg Spiekerkötter

TITLE
Chairman of Supervisory Board
COMPENSATION
€50K
AGE
60
TENURE
8.9 yrs

Karin Louise Dorrepaal

TITLE
Vice Chairman of Supervisory Board
COMPENSATION
€38K
AGE
57

John Dawson

TITLE
Member of the Supervisory Board
COMPENSATION
€24K
TENURE
4.9 yrs

Irina Antonijevic

TITLE
Member of the Supervisory Board
COMPENSATION
€25K
AGE
53
TENURE
1.8 yrs

Chris Tanner

TITLE
Member of the Supervisory Board
COMPENSATION
€25K
AGE
67
TENURE
1.8 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 Paion'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. Paion 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

Paion AG, a specialty pharmaceutical company, develops and commercializes drugs for use in out-patient and hospital-based sedation, anesthesia, and critical care services worldwide. The company’s lead product is Remimazolam, an intravenous ultra-short-acting anesthetic, which is in final stage of clinical development for use in procedural sedation, as well as in other indications, such as general anesthesia and intensive care unit sedation. It has partnerships and license agreements with Cosmo Pharmaceuticals, Yichang Humanwell, R-Pharm, TR-Pharm, Hana Pharm, Pharmascience (Pendopharm), and Mundipharma. Paion AG was founded in 2000 and is headquartered in Aachen, Germany.

Details
Name: Paion AG
PA8
Exchange: DB
Founded: 2000
€141,765,077
63,858,143
Website: http://www.paion.com
Address: Paion AG
Martinstrasse 10-12,
Aachen,
North Rhine-Westphalia, 52062,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA PA8 Bearer Shares XETRA Trading Platform DE EUR 14. Feb 2005
OTCPK PAIO.F Bearer Shares Pink Sheets LLC US USD 14. Feb 2005
DB PA8 Bearer Shares Deutsche Boerse AG DE EUR 14. Feb 2005
LSE 0NF3 Bearer Shares London Stock Exchange GB EUR 14. Feb 2005
BATS-CHIXE PA8D Bearer Shares BATS 'Chi-X Europe' GB EUR 14. Feb 2005
Number of employees
Current staff
Staff numbers
40
Paion employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 20:58
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/04
Last earnings filing: 2019/03/20
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.