ENXTPA:ALNOV

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Novacyt S.A., together with its subsidiaries, engages in the development, manufacture, and commercialization of clinical diagnostic products for cancer and infectious diseases in Africa, Europe, the Asia Pacific, the United States, and the Middle East. More Details


Snowflake Analysis

Flawless balance sheet with acceptable track record.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: ALNOV is more volatile than 90% of French stocks over the past 3 months, typically moving +/- 18% a week.

Volatility Over Time: ALNOV's weekly volatility has decreased from 30% to 18% over the past year, but is still higher than 75% of French stocks.


Market Performance


7 Day Return

-5.9%

ALNOV

3.0%

FR Biotechs

1.1%

FR Market


1 Year Return

7,373.4%

ALNOV

35.5%

FR Biotechs

-2.6%

FR Market

Return vs Industry: ALNOV exceeded the French Biotechs industry which returned 27.7% over the past year.

Return vs Market: ALNOV exceeded the French Market which returned -3% over the past year.


Shareholder returns

ALNOVIndustryMarket
7 Day-5.9%3.0%1.1%
30 Day-22.1%12.0%15.2%
90 Day147.9%22.3%11.6%
1 Year7,373.4%7,373.4%35.5%35.5%-0.6%-2.6%
3 Year1,217.2%1,217.2%-31.8%-31.9%16.8%7.1%
5 Year176.4%176.4%-63.5%-63.7%48.9%28.7%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Novacyt undervalued compared to its fair value and its price relative to the market?

13.43x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ALNOV (€8.43) is trading above our estimate of fair value (€8.2)

Significantly Below Fair Value: ALNOV is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ALNOV is good value based on its PE Ratio (13.4x) compared to the XE Biotechs industry average (39.8x).

PE vs Market: ALNOV is good value based on its PE Ratio (13.4x) compared to the French market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: ALNOV's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ALNOV is overvalued based on its PB Ratio (9.4x) compared to the FR Biotechs industry average (3x).


Next Steps

Future Growth

How is Novacyt forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-17.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ALNOV's earnings are forecast to decline over the next 3 years (-17.9% per year).

Earnings vs Market: ALNOV's earnings are forecast to decline over the next 3 years (-17.9% per year).

High Growth Earnings: ALNOV's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ALNOV's revenue is expected to decline over the next 3 years (-19.5% per year).

High Growth Revenue: ALNOV's revenue is forecast to decline over the next 3 years (-19.5% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ALNOV's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Novacyt performed over the past 5 years?

61.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ALNOV has a high level of non-cash earnings.

Growing Profit Margin: ALNOV became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: ALNOV has become profitable over the past 5 years, growing earnings by 61.6% per year.

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

Earnings vs Industry: ALNOV has become profitable in the last year, making it difficult to compare its past year earnings growth to the Biotechs industry (11.2%).


Return on Equity

High ROE: ALNOV's Return on Equity (63.8%) is considered outstanding.


Next Steps

Financial Health

How is Novacyt's financial position?


Financial Position Analysis

Short Term Liabilities: ALNOV's short term assets (€64.8M) exceed its short term liabilities (€26.9M).

Long Term Liabilities: ALNOV's short term assets (€64.8M) exceed its long term liabilities (€2.3M).


Debt to Equity History and Analysis

Debt Level: ALNOV is debt free.

Reducing Debt: ALNOV has no debt compared to 5 years ago when its debt to equity ratio was 7.2%.

Debt Coverage: ALNOV has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: ALNOV has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Novacyt current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

High Dividend: Unable to evaluate ALNOV'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 ALNOV's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

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


Next Steps

Management

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

3.8yrs

Average management tenure


CEO

Graham Mullis (57 yo)

6.83yrs

Tenure

€371,183

Compensation

Mr. Graham David Mullis has been the Chief Executive Officer of Novacyt Société Anonyme since 2014. Mr. Mullis served as the Chief Executive Officer of Lab21 Ltd. He served as the President of ClearLab Int...


CEO Compensation Analysis

Compensation vs Market: Graham's total compensation ($USD441.94K) is below average for companies of similar size in the French market ($USD746.22K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Graham Mullis
CEO & Director6.83yrs€371.18k0.17%
€ 1.0m
Anthony Dyer
CFO, Company Secretary & Director3.42yrs€217.77k0.024%
€ 141.8k
Lisa Henriet
Group Operations Director1.83yrsno datano data
Mandy Cowling
Corporate & Investor Relations Managerno datano datano data
Wendy Karban
Group HR Manager3.75yrsno datano data
Gérald Ulrich
Chief Executive Officer of Business Developmentno datano datano data
Steve Gibson
Group Financial Controller3.58yrsno data0.013%
€ 76.8k

3.8yrs

Average Tenure

Experienced Management: ALNOV's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Graham Mullis
CEO & Director6.83yrs€371.18k0.17%
€ 1.0m
Anthony Dyer
CFO, Company Secretary & Director3.42yrs€217.77k0.024%
€ 141.8k
Edwin Snape
Independent Non-Executive Directorno data€27.20k0.025%
€ 150.9k
Andrew John Heath
Independent Senior Non-Executive Directorno data€45.70k0.028%
€ 168.4k
Juliet Thompson
Independent Non-Executive Director3.42yrs€45.70kno data
Jean-Pierre Crinelli
Independent Non-Executive Directorno data€30.00k0.044%
€ 259.1k
David Gardner
Member of Scientific Committeeno datano datano data
Marco Zonta
Member of Scientific Committeeno datano datano data
Isabelle Cartier
Member of Scientific Committeeno datano datano data
Geneviève Bourg-Heckly
Member of Scientific Committeeno datano datano data
James Wakefield
Independent Non-Executive Chairman of the Board6.83yrs€62.86k0.052%
€ 310.2k

3.4yrs

Average Tenure

57yo

Average Age

Experienced Board: ALNOV's board of directors are considered experienced (3.4 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: ALNOV insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 21.7%.


Top Shareholders

Company Information

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


Key Information

  • Name: Novacyt S.A.
  • Ticker: ALNOV
  • Exchange: ENXTPA
  • Founded: 2006
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: €594.639m
  • Shares outstanding: 70.62m
  • Website: https://www.novacyt.com

Number of Employees


Location

  • Novacyt S.A.
  • Watchmoor Point
  • Unit 1
  • Camberley
  • Surrey
  • GU15 3AD
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALNOVENXTPA (Euronext Paris)YesCommon StockFREUROct 2012
NCYTAIM (London Stock Exchange AIM Market)YesCommon StockGBGBPOct 2012
NYZDB (Deutsche Boerse AG)YesCommon StockDEEUROct 2012
NVYT.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDOct 2012

Biography

Novacyt S.A., together with its subsidiaries, engages in the development, manufacture, and commercialization of clinical diagnostic products for cancer and infectious diseases in Africa, Europe, the Asia P...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/26 19:31
End of Day Share Price2020/11/26 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.