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Opthea

DB:UKJ
Snowflake Description

Flawless balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
UKJ
DB
A$175M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Opthea Limited develops and commercializes therapies primarily for eye disease in Australia. The last earnings update was 56 days ago. More info.


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UKJ Share Price and Events
7 Day Returns
2.9%
DB:UKJ
-2.4%
DE Biotechs
1.8%
DE Market
1 Year Returns
28%
DB:UKJ
-10.2%
DE Biotechs
-6%
DE Market
UKJ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Opthea (UKJ) 2.9% -4.1% -10.1% 28% - -
DE Biotechs -2.4% 3.2% -7.7% -10.2% 51.2% 10.1%
DE Market 1.8% 4.6% 7.4% -6% 10.1% 15.3%
1 Year Return vs Industry and Market
  • UKJ outperformed the Biotechs industry which returned -10.2% over the past year.
  • UKJ outperformed the Market in Germany which returned -6% over the past year.
Price Volatility
UKJ
Industry
5yr Volatility vs Market

UKJ Value

 Is Opthea 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 Opthea 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 Opthea.

DB:UKJ 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%
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:UKJ
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- 30%) (0%))
1.3
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% + (1.3 * 5.96%)
7.98%

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

The calculations below outline how an intrinsic value for Opthea 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:UKJ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 7.98%)
2019 -22.30 Analyst x1 -20.65
2020 -9.10 Analyst x1 -7.81
2021 22.00 Analyst x1 17.48
2022 36.13 Est @ 64.24% 26.58
2023 52.40 Est @ 45.03% 35.71
2024 68.96 Est @ 31.59% 43.51
2025 84.26 Est @ 22.18% 49.24
2026 97.40 Est @ 15.6% 52.72
2027 108.10 Est @ 10.99% 54.18
2028 116.48 Est @ 7.76% 54.08
Present value of next 10 years cash flows A$305.04
DB:UKJ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$116.48 × (1 + 0.23%) ÷ (7.98% – 0.23%)
A$1,506.88
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$1,506.88 ÷ (1 + 7.98%)10
A$699.54
DB:UKJ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$305.04 + A$699.54
A$1,004.58
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$1,004.58 / 249.41
A$4.03
DB:UKJ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:UKJ represents 0.6x of ASX:OPT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.6x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (AUD) x Listing Adjustment Factor
= A$ 4.03 x 0.6
€2.42
Value per share (EUR) From above. €2.42
Current discount Discount to share price of €0.42
= -1 x (€0.42 - €2.42) / €2.42
82.6%

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

Current Discount
Amount off the current price Opthea is available for.
Intrinsic value
>50%
Share price is €0.42 vs Future cash flow value of €2.42
Current Discount Checks
For Opthea to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Opthea's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Opthea's share price is below the future cash flow value, and 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 Opthea's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Opthea's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:UKJ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$-0.08
ASX:OPT Share Price ** ASX (2019-04-18) in AUD A$0.7
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.44x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.59x

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

** Primary Listing of Opthea.

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

= ASX:OPT Share Price ÷ EPS (both in AUD)

= 0.7 ÷ -0.08

-8.76x

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

  • Opthea is loss making, we can't compare its value to the Europe Biotechs industry average.
  • Opthea is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Opthea's expected growth come at a high price?
Raw Data
DB:UKJ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -8.76x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
78.5%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 1.56x

*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 Opthea, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Opthea's assets?
Raw Data
DB:UKJ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$0.16
ASX:OPT Share Price * ASX (2019-04-18) in AUD A$0.7
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.71x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:UKJ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:OPT Share Price ÷ Book Value per Share (both in AUD)

= 0.7 ÷ 0.16

4.39x

* Primary Listing of Opthea.

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

  • Opthea is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Opthea'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. Opthea has a total score of 2/6, 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.

UKJ Future Performance

 How is Opthea 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
78.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Opthea expected to grow at an attractive rate?
  • Opthea's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Opthea's earnings growth is expected to exceed the Germany market average.
  • Opthea's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:UKJ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:UKJ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 78.5%
DB:UKJ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 40%
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 11.6%
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:UKJ 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 AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:UKJ Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 0 22 1 1
2020-06-30 40 -9 6 1
2019-06-30 0 -22 -22 1
DB:UKJ Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 0 -15 -17
2018-09-30 0 -18 -17
2018-06-30 0 -20 -17
2018-03-31 0 -17 -16
2017-12-31 0 -15 -15
2017-09-30 0 -10 -11
2017-06-30 0 -6 -6
2017-03-31 0 -5 -7
2016-12-31 0 -5 -7
2016-09-30 0 -4 -7
2016-06-30 0 -4 -7
2016-03-31 0 -3 -5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Opthea's earnings are expected to grow significantly at over 20% yearly.
  • Opthea'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:UKJ 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 Opthea Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:UKJ Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 0.00 0.07 -0.07 2.00
2020-06-30 0.04 0.12 -0.05 2.00
2019-06-30 -0.10 -0.10 -0.10 1.00
DB:UKJ Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 -0.08
2018-09-30 -0.08
2018-06-30 -0.08
2018-03-31 -0.08
2017-12-31 -0.08
2017-09-30 -0.06
2017-06-30 -0.04
2017-03-31 -0.04
2016-12-31 -0.05
2016-09-30 -0.05
2016-06-30 -0.04
2016-03-31 -0.04

*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.
  • Opthea is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Opthea'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.
Opthea 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.

UKJ Past Performance

  How has Opthea 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 Opthea'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.
  • Opthea does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Opthea's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Opthea's 1-year growth to the Europe Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Opthea'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 Opthea Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:UKJ Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 0.19 -16.75 4.34 31.57
2018-09-30 0.17 -16.83 4.50 28.23
2018-06-30 0.15 -16.90 4.67 24.89
2018-03-31 0.12 -16.11 4.86 18.82
2017-12-31 0.09 -15.33 5.05 12.76
2017-09-30 0.08 -10.76 4.88 8.80
2017-06-30 0.07 -6.19 4.71 4.84
2017-03-31 0.08 -6.65 4.76 4.97
2016-12-31 0.08 -7.10 4.81 5.09
2016-09-30 0.21 -6.80 4.43 4.34
2016-06-30 0.34 -6.51 4.06 3.58
2016-03-31 0.48 -5.29 3.75 3.60
2015-12-31 0.61 -4.08 3.44 3.62
2015-09-30 0.60 -4.70 3.41 4.60
2015-06-30 0.58 -5.31 3.38 5.59
2015-03-31 0.69 -5.34 3.18 5.34
2014-12-31 0.80 -5.36 2.98 5.10
2014-09-30 0.79 -4.68 3.17 4.36
2014-06-30 0.79 -4.00 3.36 3.61
2014-03-31 0.70 -3.26 3.55 3.44
2013-12-31 0.60 -2.53 3.74 3.26
2013-09-30 0.62 -3.64 3.88 3.35
2013-06-30 0.64 -4.75 4.01 3.44
2013-03-31 0.62 -5.85 4.01 3.80
2012-12-31 0.60 -6.95 4.00 4.17
2012-09-30 0.62 -5.90 3.98 3.88
2012-06-30 0.64 -4.84 3.96 3.60

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

UKJ Health

 How is Opthea'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 Opthea's finances.

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

DB:UKJ Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 39.74 0.00 40.14
2018-09-30 39.74 0.00 40.14
2018-06-30 38.17 0.00 32.51
2018-03-31 38.17 0.00 32.51
2017-12-31 43.52 0.00 41.94
2017-09-30 43.52 0.00 41.94
2017-06-30 54.49 0.00 51.96
2017-03-31 54.49 0.00 51.96
2016-12-31 13.81 0.00 13.14
2016-09-30 13.81 0.00 13.14
2016-06-30 14.98 0.00 14.66
2016-03-31 14.98 0.00 14.66
2015-12-31 19.00 0.00 17.93
2015-09-30 19.00 0.00 17.93
2015-06-30 21.72 0.00 18.44
2015-03-31 21.72 0.00 18.44
2014-12-31 23.58 0.00 18.99
2014-09-30 23.58 0.00 18.99
2014-06-30 10.48 0.00 7.16
2014-03-31 10.48 0.00 7.16
2013-12-31 13.26 0.00 7.92
2013-09-30 13.26 0.00 7.92
2013-06-30 14.36 0.00 11.00
2013-03-31 14.36 0.00 11.00
2012-12-31 15.62 0.00 12.12
2012-09-30 15.62 0.00 12.12
2012-06-30 20.20 0.00 16.44
  • Opthea has no debt.
  • Opthea has not taken on any debt in the past 5 years.
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.

  • Opthea has sufficient cash runway for 2.6 years based on current free cash flow.
  • Opthea has sufficient cash runway for 2 years if free cash flow continues to grow at historical rates of 66.6% each year.
X
Financial health checks
We assess Opthea'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. Opthea 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.

UKJ Dividends

 What is Opthea'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 Opthea dividends. Estimated to be 0% next year.
If you bought €2,000 of Opthea 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 Opthea's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Opthea'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:UKJ 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 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:UKJ Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 0.00 1.00
2020-06-30 0.00 1.00
2019-06-30 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 Opthea has not reported any payouts.
  • Unable to verify if Opthea's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Opthea's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Opthea has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Opthea's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Opthea'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 Opthea afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Opthea 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.

UKJ Management

 What is the CEO of Opthea'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
Megan Baldwin
COMPENSATION A$680,156
TENURE AS CEO 5.2 years
CEO Bio

Ms. Megan Baldwin, PhD, MAICD has been the Chief Executive Officer and Managing Director at Opthea Limited since February 24, 2014 and served as its Head of Pre-Clinical Research & Development since January 14, 2008. Ms. Baldwin serves as Chief Executive Officer of Opthea Pty Ltd. Ms. Baldwin joined Circadian in January 2008 and is responsible for research and development of Circadian’s product pipeline. She was employed at Genentech, the world leader in the field of angiogenesis-based therapies for cancer and other diseases. Her experience included several years as a researcher in the group of leading angiogenesis expert Napoleone Ferrara, before moving to Genentech’s commercial division and having responsibility for corporate competitive intelligence activities. In this role, she developed extensive knowledge of the angiogenesis and cancer fields. She has a scientific background of more than 10 years, focused on angiogenesis and therapeutic strategies for oncology indications. She serves as a Director of Circadian Technologies Limited. She serves as a Director of Opthea Limited. She holds a PhD in Medicine from the University of Melbourne, having conducted her doctoral studies at the Ludwig Institute for Cancer Research.

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

Average tenure of the Opthea management team in years:

7.6
Average Tenure
  • The average tenure for the Opthea management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Megan Baldwin

TITLE
MD, CEO & Executive Director
COMPENSATION
A$680K
TENURE
5.2 yrs

Mike Tonroe

TITLE
CFO & Company Secretary
COMPENSATION
A$373K
TENURE
4.9 yrs

Richard Chadwick

TITLE
Head of Intellectual Property
COMPENSATION
A$220K
TENURE
11.2 yrs

Mike Gerometta

TITLE
Head of CMC Development
COMPENSATION
A$209K
TENURE
10.3 yrs

Ian Leitch

TITLE
Director of Clinical Research
COMPENSATION
A$203K
TENURE
7.6 yrs

James Goding

TITLE
Independent Consultant
Board of Directors Tenure

Average tenure of the Opthea board of directors in years:

4.3
Average Tenure
  • The tenure for the Opthea board of directors is about average.
Board of Directors

Geoffrey Kempler

TITLE
Non-Executive Chairman
COMPENSATION
A$143K
AGE
63
TENURE
3.4 yrs

Megan Baldwin

TITLE
MD, CEO & Executive Director
COMPENSATION
A$680K

Michael Sistenich

TITLE
Non-Executive Director
COMPENSATION
A$88K
TENURE
3.4 yrs

Pravin Dugel

TITLE
Member of Clinical Advisory Board
AGE
54
TENURE
4.3 yrs

Mark Gillies

TITLE
Member of Clinical Advisory Board
TENURE
4.3 yrs

Peter Campochiaro

TITLE
Member of Clinical Advisory Board
TENURE
4.3 yrs

Kameran Lashkari

TITLE
Member of Clinical Advisory Board
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • Opthea insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
04. Apr 19 Sell Megan Baldwin Individual 04. Apr 19 04. Apr 19 -667,000 €0.42 €-279,076
14. Nov 18 Sell BVF Partners LP Company 13. Nov 18 13. Nov 18 -1,600,000 €0.37 €-592,231
25. Sep 18 Sell BVF Partners LP Company 14. Jun 18 01. Aug 18 -2,321,877 €0.36 €-763,733
25. Sep 18 Buy BVF Partners LP Company 13. Jun 18 01. Aug 18 1,529,076 €0.36 €517,036
X
Management checks
We assess Opthea'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. Opthea 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.

UKJ News

Simply Wall St News

UKJ Company Info

Description

Opthea Limited develops and commercializes therapies primarily for eye disease in Australia. The company’s development activities are based on the intellectual property portfolio covering Vascular Endothelial Growth Factors (VEGF) VEGF-C, VEGF-D, and VEGF Receptor-3 for the treatment of diseases associated with blood and lymphatic vessel growth, as well as vascular leakage. Its lead molecule is OPT-302, a soluble form of VEGFR-3, which is in Phase 1/2A clinical trials for the treatment of wet age-related macular degeneration and diabetic macular edema. The company was formerly known as Circadian Technologies Limited and changed its name to Opthea Limited in December 2015. Opthea Limited is based in South Yarra, Australia.

Details
Name: Opthea Limited
UKJ
Exchange: DB
Founded:
A$110,992,902
249,414,839
Website: http://www.opthea.com
Address: Opthea Limited
650 Chapel Street,
Suite 0403,
South Yarra,
Victoria, 3141,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX OPT Ordinary Shares Australian Securities Exchange AU AUD 02. Jan 1992
DB UKJ Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
CHIA OPT Ordinary Shares Chi-X Australia AU AUD 02. Jan 1992
OTCPK CKDX.Y SPONSORED ADR Pink Sheets LLC US USD 07. Jun 2011
Number of employees
Current staff
Staff numbers
0
Opthea employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 21:58
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/03/07
Last earnings filing: 2019/02/24
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.