BME:ALM

Stock Analysis Report

Executive Summary

Almirall, S.A., a pharmaceutical company, engages in the research, development, manufacture, and sale of medicines worldwide.

Snowflake

Fundamentals

Moderate growth potential with mediocre balance sheet.


Similar Companies

Share Price & News

How has Almirall's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

3.0%

ALM

0.9%

ES Pharmaceuticals

2.7%

ES Market


1 Year Return

-0.6%

ALM

12.0%

ES Pharmaceuticals

4.5%

ES Market

Return vs Industry: ALM underperformed the Spanish Pharmaceuticals industry which returned 12% over the past year.

Return vs Market: ALM underperformed the Spanish Market which returned 4.5% over the past year.


Share holder returns

ALMIndustryMarket
7 Day3.0%0.9%2.7%
30 Day3.4%2.2%1.2%
90 Day-5.6%6.2%-1.4%
1 Year0.4%-0.6%18.4%12.0%8.1%4.5%
3 Year23.7%19.6%30.4%15.9%16.9%6.1%
5 Year42.1%34.7%35.0%12.8%12.7%-8.7%

Price Volatility Vs. Market

How volatile is Almirall's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Almirall undervalued based on future cash flows and its price relative to the stock market?

31.41x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Undervalued: ALM (€15.87) is trading above our estimate of fair value (€15.07)

Significantly Undervalued: ALM is trading above our estimate of fair value.


Price Based on Earnings

PE vs Industry: ALM is poor value based on its PE Ratio (31.4x) compared to the Pharmaceuticals industry average (22.9x).

PE vs Market: ALM is poor value based on its PE Ratio (31.4x) compared to the Spanish market (16.6x).


Price Based on Expected Growth

Low PEG Ratio: ALM is poor value based on its PEG Ratio (1.7x)


Price Based on Value of Assets

PB vs Industry: ALM is good value based on its PB Ratio (2.2x) compared to the XE Pharmaceuticals industry average (2.9x).


Next Steps

Future Growth

How is Almirall expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

18.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: ALM's forecast earnings growth (18.1% per year) is above the savings rate (1.5%).

Earnings vs Market: ALM's earnings (18.1% per year) are forecast to grow faster than the Spanish market (7.4% per year).

High Growth Earnings: ALM's earnings are forecast to grow, but not significantly.

Revenue vs Market: ALM's revenue (7.9% per year) is forecast to grow faster than the Spanish market (3.7% per year).

High Growth Revenue: ALM's revenue (7.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: ALM's Return on Equity is forecast to be low in 3 years time (12.3%).


Next Steps

Past Performance

How has Almirall performed over the past 5 years?

-43.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ALM has become profitable over the past 5 years, growing earnings by -43.7% per year.

Accelerating Growth: ALM has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: ALM has become profitable in the last year, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (5.7%).


Return on Equity

High ROE: ALM's Return on Equity (7.1%) is considered low.


Return on Assets

ROA vs Industry: ALM's Return on Assets is below or equal to the Pharmaceuticals industry average last year.


Return on Capital Employed

ROCE Improving: ALM has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Almirall's financial position?


Financial Position Analysis

Short Term Liabilities: ALM's short term assets (€528.3M) exceeds its short term liabilities (€382.7M)

Long Term Liabilities: ALM's short term assets (528.3M) do not cover its long term liabilities (899.2M)


Debt to Equity History and Analysis

Debt Level: ALM's debt to equity ratio (44.6%) is considered high

Reducing Debt: ALM's debt to equity ratio has increased from 37.7% to 44.6% over the past 5 years.

Debt Coverage: ALM's debt is well covered by operating cash flow (33%).

Interest Coverage: ALM's interest payments on its debt are well covered by EBIT (30.5x coverage).


Balance Sheet

Inventory Level: ALM has a low level of unsold assets or inventory.

Debt Coverage by Assets: ALM's debt is not covered by short term assets (assets are 1x debt).


Next Steps

Dividend

What is Almirall's current dividend yield, its reliability and sustainability?

1.58%

Expected Dividend Yield


Dividend Yield vs Market

company1.2%marketbottom25%2.2%markettop25%5.7%industryaverage2.0%forecastin3Years1.6%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: ALM's dividend (1.2%) isn’t notable compared to the bottom 25% of dividend payers in the Spanish market (2.24%).

High Dividend: ALM's dividend (1.2%) is low compared to the top 25% of dividend payers in the Spanish market (5.66%).

Stable Dividend: ALM is not paying a notable dividend for the Spanish market, therefore no need to check if payments are stable.

Growing Dividend: ALM is not paying a notable dividend for the Spanish market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: ALM is not paying a notable dividend for .


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ALM's dividend in 3 years as they are not forecast to pay a notable one for the Spanish market.


Next Steps

Management

What is the CEO of Almirall's salary, the management and board of directors tenure and is there insider trading?

8.7yrs

Average board tenure


CEO

Peter Guenter (57yo)

2.2yrs

Tenure

0

Mr. Peter Guenter has been Chairman of Management Board and Chief Executive Officer at Almirall, S.A. since August 28, 2017 and it Executive Director since October 10, 2017. Mr. Guenter served as an Execut ...


Board Age and Tenure

8.7yrs

Average Tenure

70yo

Average Age

Experienced Board: ALM's board of directors are considered experienced (8.7 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Jorge Gallardo Ballart (63yo)

    Chairman & President

    • Tenure: 0yrs
    • Compensation: €455.00k
  • Bhushan Hardas

    Chief Scientific Officer

    • Tenure: 0yrs
  • Joan Figueras Carreras

    General Counsel

    • Tenure: 0yrs
  • Peter Guenter (57yo)

    CEO, Chairman of Management Board & Executive Director

    • Tenure: 2.2yrs
  • Eloi Crespo Cervera

    VP of Manufacturing & Technical Services and Member of Management Board

    • Tenure: 0yrs
  • Alfredo Barón de Juan

    Executive VP of Global Commercial Operations & Member of Management Board

    • Tenure: 0yrs
  • David Nieto

    CFO, Executive VP of Finance & Member of Management Board

    • Tenure: 0yrs
  • Jordi Sabé Richer

    Senior VP of Corporate Development & Member of Management Board

    • Tenure: 0yrs
  • Amita Kent

    Senior VP of Legal

    • Tenure: 0yrs
  • Esteve Conesa

    VP of Human Resources & Member of Management Board

    • Tenure: 0yrs

Board Members

  • Sidney Taurel (70yo)

    Member of Global Advisory Board-Spain

    • Tenure: 10.8yrs
  • Gerhard Mayr (73yo)

    External Independent Director

    • Tenure: 7yrs
    • Compensation: €122.00k
  • Tom McKillop (76yo)

    External Independent Director

    • Tenure: 10.4yrs
    • Compensation: €132.00k
  • Juan Arena de la Mora (76yo)

    External Independent Director

    • Tenure: 12.4yrs
    • Compensation: €124.00k
  • Jorge Gallardo Ballart (63yo)

    Chairman & President

    • Tenure: 0yrs
    • Compensation: €455.00k
  • Karin Louise Dorrepaal (58yo)

    External Independent Director

    • Tenure: 6.8yrs
    • Compensation: €122.00k
  • Daniel Bravo Andreu

    Vice-Chairman

    • Tenure: 0yrs
    • Compensation: €50.00k
  • José Juan Pintó Sala

    Secretary & Non-Voting Director

    • Tenure: 0yrs
  • Joan Figueras Carreras

    General Counsel

    • Tenure: 0yrs
  • Peter Guenter (57yo)

    CEO, Chairman of Management Board & Executive Director

    • Tenure: 2.2yrs

Company Information

Almirall, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Almirall, S.A.
  • Ticker: ALM
  • Exchange: BME
  • Founded: 1943
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: €2.770b
  • Shares outstanding: 174.55m
  • Website: https://www.almirall.com

Number of Employees


Location

  • Almirall, S.A.
  • Ronda General Mitre, 151
  • Barcelona
  • Catalonia
  • 8022
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALMBME (Bolsas y Mercados Espanoles)YesCommon StockESEURJun 2007
E2ZDB (Deutsche Boerse AG)YesCommon StockDEEURJun 2007
0O9BLSE (London Stock Exchange)YesCommon StockGBEURJun 2007
LBTS.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDJun 2007
ALMEBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURJun 2007

Biography

Almirall, S.A., a pharmaceutical company, engages in the research, development, manufacture, and sale of medicines worldwide. The company offers its products for dermatological diseases comprising actinic  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/13 21:36
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.

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