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ALK

ALK-Abelló CPSE:ALK B Stock Report

Last Price

kr.119.30

Market Cap

kr.26.3b

7D

-5.8%

1Y

-10.2%

Updated

28 Sep, 2022

Data

Company Financials +
ALK B fundamental analysis
Snowflake Score
Valuation3/6
Future Growth4/6
Past Performance5/6
Financial Health6/6
Dividends0/6

ALK B Stock Overview

ALK-Abelló A/S operates as an allergy solutions company in Europe, North America, and internationally.

ALK-Abelló Competitors

Price History & Performance

Summary of all time highs, changes and price drops for ALK-Abelló
Historical stock prices
Current Share Pricekr.119.30
52 Week Highkr.175.00
52 Week Lowkr.113.20
Beta0.45
1 Month Change-11.63%
3 Month Change-3.17%
1 Year Change-10.23%
3 Year Change76.48%
5 Year Change127.24%
Change since IPO249.34%

Recent News & Updates

Sep 01
Does ALK-Abelló (CPH:ALK B) Have A Healthy Balance Sheet?

Does ALK-Abelló (CPH:ALK B) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Aug 05
Calculating The Fair Value Of ALK-Abelló A/S (CPH:ALK B)

Calculating The Fair Value Of ALK-Abelló A/S (CPH:ALK B)

Today we'll do a simple run through of a valuation method used to estimate the attractiveness of ALK-Abelló A/S...

Shareholder Returns

ALK BDK PharmaceuticalsDK Market
7D-5.8%0.3%-2.7%
1Y-10.2%-0.4%-12.2%

Return vs Industry: ALK B underperformed the Danish Pharmaceuticals industry which returned -0.7% over the past year.

Return vs Market: ALK B exceeded the Danish Market which returned -12.3% over the past year.

Price Volatility

Is ALK B's price volatile compared to industry and market?
ALK B volatility
ALK B Average Weekly Movement5.5%
Pharmaceuticals Industry Average Movement5.5%
Market Average Movement5.6%
10% most volatile stocks in DK Market10.3%
10% least volatile stocks in DK Market2.9%

Stable Share Price: ALK B is not significantly more volatile than the rest of Danish stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: ALK B's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19232,587Carsten Hellmannhttps://www.alk.net

ALK-Abelló A/S operates as an allergy solutions company in Europe, North America, and internationally. The company offers allergy immunotherapy products in the form of injections, sublingual drops, and tablets for the treatment of various allergies, including house dust mite, grass, tree, ragweed, and Japanese cedar. It also provides adrenaline auto-injectors for the treatment of severe allergic reactions; and manufactures products used in the diagnosis of allergies.

ALK-Abelló Fundamentals Summary

How do ALK-Abelló's earnings and revenue compare to its market cap?
ALK B fundamental statistics
Market Capkr.26.31b
Earnings (TTM)kr.318.00m
Revenue (TTM)kr.4.23b

82.7x

P/E Ratio

6.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ALK B income statement (TTM)
Revenuekr.4.23b
Cost of Revenuekr.1.58b
Gross Profitkr.2.65b
Other Expenseskr.2.33b
Earningskr.318.00m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 10, 2022

Earnings per share (EPS)1.44
Gross Margin62.62%
Net Profit Margin7.52%
Debt/Equity Ratio10.0%

How did ALK B perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

ALK B key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue6.3x
Enterprise Value/EBITDA47.3x
PEG Ratio2.4x

Price to Earnings Ratio vs Peers

How does ALK B's PE Ratio compare to its peers?

ALK B PE Ratio vs Peers
The above table shows the PE ratio for ALK B vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average42.2x
HLUN A H. Lundbeck
18.8x28.1%kr.24.9b
NOVO B Novo Nordisk
34.2x13.4%kr.1.7t
CHEMM ChemoMetec
63.9x24.8%kr.10.2b
DPH Dechra Pharmaceuticals
52x16.3%UK£3.0b
ALK B ALK-Abelló
82.7x34.0%kr.26.3b

Price-To-Earnings vs Peers: ALK B is expensive based on its Price-To-Earnings Ratio (82.7x) compared to the peer average (42.2x).


Price to Earnings Ratio vs Industry

How does ALK B's PE Ratio compare vs other companies in the European Pharmaceuticals Industry?

Price-To-Earnings vs Industry: ALK B is expensive based on its Price-To-Earnings Ratio (82.7x) compared to the European Pharmaceuticals industry average (17.5x)


Price to Earnings Ratio vs Fair Ratio

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

ALK B PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio82.7x
Fair PE Ratio34.2x

Price-To-Earnings vs Fair Ratio: ALK B is expensive based on its Price-To-Earnings Ratio (82.7x) compared to the estimated Fair Price-To-Earnings Ratio (34.2x).


Share Price vs Fair Value

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

Below Fair Value: ALK B (DKK119.3) is trading below our estimate of fair value (DKK361.63)

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


Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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Future Growth

How is ALK-Abelló forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


34.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ALK B's forecast earnings growth (34% per year) is above the savings rate (0.1%).

Earnings vs Market: ALK B's earnings (34% per year) are forecast to grow faster than the Danish market (9.2% per year).

High Growth Earnings: ALK B's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ALK B's revenue (10.7% per year) is forecast to grow faster than the Danish market (6.7% per year).

High Growth Revenue: ALK B's revenue (10.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ALK B's Return on Equity is forecast to be low in 3 years time (17.4%).


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Past Performance

How has ALK-Abelló performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


56.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ALK B has high quality earnings.

Growing Profit Margin: ALK B's current net profit margins (7.5%) are higher than last year (1.5%).


Past Earnings Growth Analysis

Earnings Trend: ALK B's earnings have grown significantly by 56.3% per year over the past 5 years.

Accelerating Growth: ALK B's earnings growth over the past year (478.2%) exceeds its 5-year average (56.3% per year).

Earnings vs Industry: ALK B earnings growth over the past year (478.2%) exceeded the Pharmaceuticals industry 19.1%.


Return on Equity

High ROE: ALK B's Return on Equity (8.4%) is considered low.


Discover strong past performing companies

Financial Health

How is ALK-Abelló's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ALK B's short term assets (DKK2.7B) exceed its short term liabilities (DKK1.4B).

Long Term Liabilities: ALK B's short term assets (DKK2.7B) exceed its long term liabilities (DKK989.0M).


Debt to Equity History and Analysis

Debt Level: ALK B's net debt to equity ratio (4.7%) is considered satisfactory.

Reducing Debt: ALK B's debt to equity ratio has reduced from 27.5% to 10% over the past 5 years.

Debt Coverage: ALK B's debt is well covered by operating cash flow (130.1%).

Interest Coverage: ALK B's interest payments on its debt are well covered by EBIT (69.5x coverage).


Balance Sheet


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Dividend

What is ALK-Abelló current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.12%

Forecast Dividend Yield

Dividend Yield vs Market

ALK-Abelló Dividend Yield vs Market
How does ALK-Abelló dividend yield compare to the market?
SegmentDividend Yield
Company (ALK-Abelló)0%
Market Bottom 25% (DK)1.8%
Market Top 25% (DK)6.7%
Industry Average (Pharmaceuticals)2.9%
Analyst forecast in 3 Years (ALK-Abelló)1.1%

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

High Dividend: Unable to evaluate ALK B's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ALK B's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ALK B's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: ALK B is not paying a notable dividend for the Danish market.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as ALK B has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.5yrs

Average management tenure


CEO

Carsten Hellmann (58 yo)

6.33yrs

Tenure

kr.17,591,000

Compensation

Mr. Carsten Hellmann has been the Chief Executive Officer and President at ALK-Abelló A/S since May 17, 2016. Mr. Hellmann serves as the Chief Executive Officer at Merial Inc., Boehringer Ingelheim Animal...


CEO Compensation Analysis

Carsten Hellmann's Compensation vs ALK-Abelló Earnings
How has Carsten Hellmann's remuneration changed compared to ALK-Abelló's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

kr.318m

Mar 31 2022n/an/a

kr.255m

Dec 31 2021kr.18mkr.8m

kr.219m

Sep 30 2021n/an/a

kr.112m

Jun 30 2021n/an/a

kr.55m

Mar 31 2021n/an/a

kr.66m

Dec 31 2020kr.16mkr.8m

kr.25m

Compensation vs Market: Carsten's total compensation ($USD2.28M) is about average for companies of similar size in the Danish market ($USD2.32M).

Compensation vs Earnings: Carsten's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: ALK B's management team is seasoned and experienced (5.5 years average tenure).


Board Members

Experienced Board: ALK B's board of directors are considered experienced (3.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of ALK B?
Owner TypeNumber of SharesOwnership Percentage
Institutions59,162,42626.8%
General Public71,657,04832.5%
VC/PE Firms89,752,38040.7%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 64.32% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
40.69%
Lundbeckfond Invest A/S
89,752,380DKK10.7b0%87.33%
5.82%
ATP Invest
12,846,280DKK1.5b0%100%
2.42%
M&G Investment Management Limited
5,330,420DKK635.9m1.52%0.19%
2.18%
Columbia Management Investment Advisers, LLC
4,815,351DKK574.5m-0.12%0.02%
2.01%
The Vanguard Group, Inc.
4,440,388DKK529.7m1%no data
1.4%
Norges Bank Investment Management
3,092,436DKK368.9m0%0.01%
1.16%
Lannebo Fonder AB
2,561,060DKK305.5m0%0.81%
1.1%
Handelsbanken Asset Management
2,429,480DKK289.8m-1.82%0.08%
1.1%
Nordea Investment Management AB
2,423,452DKK289.1m-15.25%0.03%
0.94%
Bi Asset Management FondsmÆGlerselskab A/S
2,064,752DKK246.3m-0.19%0.62%
0.93%
BlackRock, Inc.
2,062,113DKK246.0m0.73%no data
0.82%
Dimensional Fund Advisors LP
1,815,991DKK216.6m0.31%0.01%
0.6%
Artisan Partners Limited Partnership
1,324,586DKK158.0m-5.79%0.02%
0.46%
J.P. Morgan Asset Management, Inc.
1,017,204DKK121.4m-0.47%no data
0.37%
Rainier Investment Management, LLC
820,229DKK97.9m14.62%0.99%
0.36%
Baillie Gifford & Co.
786,826DKK93.9m-0.23%0.01%
0.33%
Bessemer Investment Management LLC
732,170DKK87.3m-0.69%0.02%
0.25%
Deutsche Asset & Wealth Management
542,310DKK64.7m24.04%no data
0.23%
WCM Investment Management, LLC
515,336DKK61.5m-25.93%0.02%
0.21%
Sycomore Asset Management SA
461,860DKK55.1m2%0.24%
0.2%
American Century Investment Management Inc
430,240DKK51.3m1.02%no data
0.19%
Angel Japan Asset Management Ltd.
427,060DKK50.9m0%1.66%
0.19%
TimesSquare Capital Management, LLC
421,900DKK50.3m-0.99%0.08%
0.18%
Baring Asset Management Limited
396,420DKK47.3m0%0.08%
0.16%
Schroder Investment Management North America Inc.
359,500DKK42.9m-11.21%0.02%

Company Information

ALK-Abelló A/S's employee growth, exchange listings and data sources


Key Information

  • Name: ALK-Abelló A/S
  • Ticker: ALK B
  • Exchange: CPSE
  • Founded: 1923
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: kr.26.314b
  • Shares outstanding: 220.57m
  • Website: https://www.alk.net

Number of Employees


Location

  • ALK-Abelló A/S
  • Boge Alle 6-8
  • Horsholm
  • Capital Region of Denmark
  • 2970
  • Denmark


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALK BCPSE (OMX Nordic Exchange Copenhagen)YesB Ordinary SharesDKDKKDec 2005
0OIRLSE (London Stock Exchange)YesB Ordinary SharesGBDKKDec 2005
4AJ0DB (Deutsche Boerse AG)YesB Ordinary SharesDEEURDec 2005
AKBL.FOTCPK (Pink Sheets LLC)YesB Ordinary SharesUSUSDDec 2005
ALKBCBATS-CHIXE (BATS 'Chi-X Europe')YesB Ordinary SharesGBDKKDec 2005

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.