Loading...

Pharming Group

DB:PHGN
Snowflake Description

High growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PHGN
DB
€510M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Pharming Group N.V., a specialty pharmaceutical company, develops and produces human therapeutic proteins for the treatment of rare diseases and unmet medical needs. The last earnings update was 20 days ago. More info.


Add to Portfolio Compare Print
  • Pharming Group has significant price volatility in the past 3 months.
PHGN Share Price and Events
7 Day Returns
-7.2%
DB:PHGN
-0.7%
DE Biotechs
2.5%
DE Market
1 Year Returns
-38.3%
DB:PHGN
-9.2%
DE Biotechs
-6.7%
DE Market
PHGN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pharming Group (PHGN) -7.2% -1.6% -1.3% -38.3% 286.2% 63.5%
DE Biotechs -0.7% 4.7% -6.2% -9.2% 44% 8.7%
DE Market 2.5% 3.3% 9.2% -6.7% 9% 13.5%
1 Year Return vs Industry and Market
  • PHGN underperformed the Biotechs industry which returned -9.2% over the past year.
  • PHGN underperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
PHGN
Industry
5yr Volatility vs Market
Related Companies

PHGN Value

 Is Pharming Group 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 Pharming Group 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 Pharming Group.

DB:PHGN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.6%
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:PHGN
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 1.46
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.456 (1 + (1- 25%) (14.29%))
1.41
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.41
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.41 * 5.96%)
8.63%

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

The calculations below outline how an intrinsic value for Pharming Group 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:PHGN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.63%)
2019 25.94 Analyst x2 23.87
2020 31.30 Analyst x2 26.52
2021 48.80 Analyst x1 38.07
2022 53.68 Est @ 10% 38.55
2023 57.48 Est @ 7.07% 37.99
2024 60.36 Est @ 5.02% 36.73
2025 62.52 Est @ 3.58% 35.02
2026 64.13 Est @ 2.58% 33.07
2027 65.33 Est @ 1.87% 31.01
2028 66.23 Est @ 1.38% 28.94
Present value of next 10 years cash flows €329.78
DB:PHGN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €66.23 × (1 + 0.23%) ÷ (8.63% – 0.23%)
€789.91
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €789.91 ÷ (1 + 8.63%)10
€345.14
DB:PHGN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €329.78 + €345.14
€674.91
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €674.91 / 622.23
€1.08
DB:PHGN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:PHGN represents 0.98902x of ENXTAM:PHARM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98902x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 1.08 x 0.98902
€1.07
Value per share (EUR) From above. €1.07
Current discount Discount to share price of €0.81
= -1 x (€0.81 - €1.07) / €1.07
24.4%

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

Current Discount
Amount off the current price Pharming Group is available for.
Intrinsic value
24%
Share price is €0.81 vs Future cash flow value of €1.07
Current Discount Checks
For Pharming Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pharming Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Pharming Group'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 Pharming Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pharming Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PHGN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.04
ENXTAM:PHARM Share Price ** ENXTAM (2019-04-18) in EUR €0.82
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.53x
Germany Market PE Ratio Median Figure of 421 Publicly-Listed Companies 19.69x

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

** Primary Listing of Pharming Group.

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

= ENXTAM:PHARM Share Price ÷ EPS (both in EUR)

= 0.82 ÷ 0.04

19.9x

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

  • Pharming Group is good value based on earnings compared to the Europe Biotechs industry average.
  • Pharming Group is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Pharming Group's expected growth come at a high price?
Raw Data
DB:PHGN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.9x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
35.1%per year
Europe Biotechs Industry PEG Ratio Median Figure of 22 Publicly-Listed Biotechs Companies 1.31x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 19.9x ÷ 35.1%

0.57x

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

  • Pharming Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Pharming Group's assets?
Raw Data
DB:PHGN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €0.10
ENXTAM:PHARM Share Price * ENXTAM (2019-04-18) in EUR €0.82
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.85x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.87x
DB:PHGN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:PHARM Share Price ÷ Book Value per Share (both in EUR)

= 0.82 ÷ 0.10

8.25x

* Primary Listing of Pharming Group.

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

  • Pharming Group is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Pharming Group'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. Pharming Group has a total score of 3/6, 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.

PHGN Future Performance

 How is Pharming Group expected to perform in the next 1 to 3 years based on estimates from 6 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
35.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pharming Group expected to grow at an attractive rate?
  • Pharming Group's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Pharming Group's earnings growth is expected to exceed the Germany market average.
  • Pharming Group's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PHGN Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PHGN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 35.1%
DB:PHGN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 18%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 47.4%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.7%
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:PHGN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PHGN Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 288 107 2
2021-12-31 234 75 2
2020-12-31 200 43 52 6
2019-12-31 159 54 29 5
DB:PHGN Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 135 40 25
2018-09-30 131 54 -31
2018-06-30 118 52 -43
2018-03-31 104 42 -71
2017-12-31 90 38 -76
2017-09-30 64 12 -45
2017-06-30 41 -6 -41
2017-03-31 29 -12 -20
2016-12-31 16 -10 -18
2016-09-30 11 -16 -14
2016-06-30 11 -16 -13
2016-03-31 11 -16 -12

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pharming Group's earnings are expected to grow significantly at over 20% yearly.
  • Pharming Group's revenue is expected to grow by 18% 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:PHGN 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 6 Analyst Estimates (S&P Global) See Below

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

DB:PHGN Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.17 0.25 0.08 2.00
2021-12-31 0.12 0.17 0.06 2.00
2020-12-31 0.08 0.11 0.05 5.00
2019-12-31 0.05 0.05 0.04 5.00
DB:PHGN Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.04
2018-09-30 -0.05
2018-06-30 -0.08
2018-03-31 -0.14
2017-12-31 -0.15
2017-09-30 -0.10
2017-06-30 -0.09
2017-03-31 -0.05
2016-12-31 -0.04
2016-09-30 -0.04
2016-06-30 -0.03
2016-03-31 -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.
  • Pharming Group is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Pharming Group'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.
Pharming Group 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.

PHGN Past Performance

  How has Pharming Group 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 Pharming Group'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.
  • Pharming Group's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Pharming Group has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Pharming Group has become profitable in the last year making it difficult to compare the Europe Biotechs industry average.
Earnings and Revenue History
Pharming Group'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 Pharming Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PHGN Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 135.13 24.99 46.76 28.88
2018-09-30 131.17 -30.53 48.10 23.16
2018-06-30 118.43 -43.38 45.61 21.52
2018-03-31 103.64 -70.88 42.78 19.71
2017-12-31 89.62 -76.25 37.40 18.66
2017-09-30 63.91 -44.81 27.27 17.38
2017-06-30 41.24 -41.02 18.80 17.51
2017-03-31 29.12 -19.90 11.81 16.38
2016-12-31 15.87 -17.54 7.68 15.39
2016-09-30 11.02 -14.50 5.26 14.96
2016-06-30 10.87 -13.20 5.06 14.64
2016-03-31 11.26 -12.01 4.88 15.16
2015-12-31 10.83 -9.96 4.83 14.18
2015-09-30 25.84 7.20 5.15 12.80
2015-06-30 23.88 8.43 4.77 12.97
2015-03-31 21.55 8.94 3.83 11.69
2014-12-31 21.19 -5.77 3.32 11.66
2014-09-30 4.72 -22.84 2.53 11.84
2014-06-30 4.48 -25.53 2.29 10.38
2014-03-31 7.78 -25.66 2.52 10.64
2013-12-31 6.84 -15.06 2.52 10.23
2013-09-30 14.33 -11.01 2.39 13.04
2013-06-30 13.75 -14.75 2.58 15.43
2013-03-31 10.22 -23.04 2.88 17.60
2012-12-31 10.61 -24.09 3.23 19.57
2012-09-30 3.10 -28.34 3.74 16.75
2012-06-30 3.45 -25.79 4.16 15.90

*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.
  • Whilst Pharming Group made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • Pharming Group used its assets more efficiently than the Europe Biotechs industry average last year based on Return on Assets.
  • Pharming Group 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 Pharming Group'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.
Pharming Group has a total score of 2/6, 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.

PHGN Health

 How is Pharming Group'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 Pharming Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pharming Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pharming Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Pharming Group'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 1.6x 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 Pharming Group Company Filings, last reported 3 months ago.

DB:PHGN Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 61.75 72.93 80.31
2018-09-30 48.17 77.80 71.03
2018-06-30 40.67 83.54 65.54
2018-03-31 31.61 78.59 58.46
2017-12-31 16.11 82.21 58.66
2017-09-30 6.21 88.45 38.39
2017-06-30 6.76 90.49 25.00
2017-03-31 28.94 65.59 27.36
2016-12-31 27.47 67.39 31.89
2016-09-30 14.98 15.27 16.76
2016-06-30 18.16 15.91 21.41
2016-03-31 21.03 15.41 27.51
2015-12-31 23.84 15.87 31.64
2015-09-30 25.58 16.33 34.85
2015-06-30 27.89 1.11 24.78
2015-03-31 29.27 1.22 30.13
2014-12-31 29.84 1.59 34.19
2014-09-30 15.88 1.54 23.63
2014-06-30 12.19 1.66 26.26
2014-03-31 7.11 1.63 18.60
2013-12-31 5.01 1.97 16.97
2013-09-30 -1.59 4.83 12.70
2013-06-30 -0.60 9.03 13.05
2013-03-31 -6.03 12.34 18.10
2012-12-31 -7.65 2.86 5.27
2012-09-30 -11.11 3.07 1.47
2012-06-30 -8.16 3.78 2.23
  • Pharming Group's level of debt (118.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (39.1% vs 118.1% today).
  • Debt is well covered by operating cash flow (55.4%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Pharming Group'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. Pharming Group has a total score of 3/6, 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.

PHGN Dividends

 What is Pharming Group'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 Pharming Group dividends.
If you bought €2,000 of Pharming Group 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 Pharming Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Pharming Group'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:PHGN 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 6 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 324 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
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:PHGN Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
2019-12-31

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

  • Unable to perform a dividend volatility check as Pharming Group has not reported any payouts.
  • Unable to verify if Pharming Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Pharming Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Pharming Group 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 Pharming Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Pharming Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pharming Group 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.

PHGN Management

 What is the CEO of Pharming Group'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
Sijmen de Vries
COMPENSATION €1,452,000
AGE 59
TENURE AS CEO 10.4 years
CEO Bio

Dr. Sijmen De Vries, M.D., MBA has been the Chief Executive Officer of Pharming Group NV since November 3, 2008 and has also been its Chairman and Member of the Management Board since October 13, 2008. Dr. De Vries served as the Chief Executive Officer of 4-Antibody AG from August 2006 to September 2008. He joined 4-Antibody AG in June 2006. He has extensive senior level experience in both the pharmaceutical and biotechnology industries. He served as Chief Executive Officer at Morphochem AG since joining in August 2004. He served as Head of Global Business Development and Licensing at Novartis Ophthalmics. Dr. De Vries served as Global Brand Director at Gastroenterology of Novartis Pharma. He held a number of senior positions including Chief Executive Officer of a biotech start-up, the Rademacher Group Ltd. He served as a Director of Market Development Europe and Director of Augmentin, Anti-infective products at SmithKline Beecham Pharmaceuticals, where he served from 1986 to 1997. Dr. De Vries has a Medical Doctor Degree from University of Amsterdam and an MBA from Ashridge Management College (UK).

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

Average tenure and age of the Pharming Group management team in years:

3.8
Average Tenure
49.5
Average Age
  • The tenure for the Pharming Group management team is about average.
Management Team

Sijmen de Vries

TITLE
Chairman of Management Board & CEO
COMPENSATION
€1M
AGE
59
TENURE
10.4 yrs

Robin Wright

TITLE
CFO & Member of Management Board
COMPENSATION
€668K
AGE
54
TENURE
3.5 yrs

Bruno M. Giannetti

TITLE
COO & Member of Management Board
COMPENSATION
€916K
AGE
66
TENURE
12.3 yrs

Perry Calias

TITLE
Chief Scientific Officer
TENURE
4.2 yrs

Anne-Marie de Groot

TITLE
Senior Vice President of Organisational Development
AGE
37
TENURE
5.3 yrs

Paul Jansse

TITLE
VP & Head of Non-US Commercial Operations
AGE
49
TENURE
2.3 yrs

Stephen Toor

TITLE
Senior VP & GM of Pharming USA
AGE
47
TENURE
2.3 yrs

Erica Kerkvliet

TITLE
Head of Research & Development
AGE
50

Esther van Stralen

TITLE
Head of Technical Operations
AGE
44
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the Pharming Group board of directors in years:

7
Average Tenure
65
Average Age
  • The tenure for the Pharming Group board of directors is about average.
Board of Directors

Paul Sekhri

TITLE
Chairman of Board of Supervisory Directors
COMPENSATION
€82K
AGE
60
TENURE
2.9 yrs

Juergen H. Ernst

TITLE
Vice Chairman of the Board of Supervisory Directors
COMPENSATION
€73K
AGE
79

John Ward

TITLE
Member of Board of Supervisory Directors
COMPENSATION
€76K
AGE
80
TENURE
11.9 yrs

Aad de Winter

TITLE
Member of Board of Supervisory Directors
COMPENSATION
€76K
AGE
65
TENURE
10 yrs

Jan Egberts

TITLE
Member of Board of Supervisory Directors
COMPENSATION
€64K
AGE
60
TENURE
4 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 (€)
12. Nov 18 Buy Bruno M. Giannetti Individual 12. Nov 18 12. Nov 18 55,500 €0.90 €49,950
12. Nov 18 Sell Bruno M. Giannetti Individual 12. Nov 18 12. Nov 18 -55,500 €0.90 €-49,950
26. Jul 18 Sell Sijmen de Vries Individual 26. Jul 18 26. Jul 18 -3,300,000 €1.45 €-4,784,999
26. Jul 18 Sell Bruno M. Giannetti Individual 26. Jul 18 26. Jul 18 -500,000 €1.35 €-675,000
18. May 18 Sell Bruno M. Giannetti Individual 18. May 18 18. May 18 -840,000 €0.62 €-518,399
18. May 18 Buy Bruno M. Giannetti Individual 18. May 18 18. May 18 1,440,000 €0.10 €137,223
17. May 18 Sell Bruno M. Giannetti Individual 17. May 18 17. May 18 -142,918 €1.42 €-202,944
X
Management checks
We assess Pharming Group'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. Pharming Group 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.

PHGN News

Simply Wall St News

PHGN Company Info

Description

Pharming Group N.V., a specialty pharmaceutical company, develops and produces human therapeutic proteins for the treatment of rare diseases and unmet medical needs. The company’s lead product is Ruconest, a recombinant human C1 esterase inhibitor that is used for the treatment of angioedema attacks in patients with acute hereditary angioedema (HAE) in Europe, the United States, Israel, European Union countries, Norway, Iceland, and Liechtenstein. It also engages in the development of recombinant human C1 inhibitor for treating HAE attacks; and recombinant human factor VIII (rhFVIII), a natural human blood clotting factor for treating haemophilia A. The company has a strategic collaboration with Shanghai Institute of Pharmaceutical Industry for the development, manufacture, and commercialization of new products based on the Pharming technology platform; and a partnership agreement with the China State Institute of Pharmaceutical Industry for the development of rhFVIII for the treatment of Haemophilia A. Pharming Group N.V. is headquartered in Leiden, the Netherlands.

Details
Name: Pharming Group N.V.
PHGN
Exchange: DB
Founded:
€510,232,162
622,234,345
Website: http://www.pharming.com
Address: Pharming Group N.V.
Darwinweg 24,
Leiden,
Zuid-Holland, 2333 CR,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM PHARM Ordinary Shares Euronext Amsterdam NL EUR 05. Oct 1998
OTCPK PHGU.F Ordinary Shares Pink Sheets LLC US USD 05. Oct 1998
DB PHGN Ordinary Shares Deutsche Boerse AG DE EUR 05. Oct 1998
LSE 0QCO Ordinary Shares London Stock Exchange GB EUR 05. Oct 1998
Number of employees
Current staff
Staff numbers
183
Pharming Group employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 20:49
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/03/12
Last earnings filing: 2019/03/29
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.