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Ipsen

ENXTPA:IPN
Snowflake Description

Outstanding track record with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
IPN
ENXTPA
€9B
Market Cap
  1. Home
  2. FR
  3. Pharmaceuticals & Biotech
Company description

Ipsen S.A. operates as a biopharmaceutical company worldwide. The last earnings update was 59 days ago. More info.


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IPN Share Price and Events
7 Day Returns
1.6%
ENXTPA:IPN
-0.1%
FR Pharmaceuticals
-2.3%
FR Market
1 Year Returns
-18.1%
ENXTPA:IPN
9.9%
FR Pharmaceuticals
-4%
FR Market
IPN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ipsen (IPN) 1.6% -3.7% -10% -18.1% 92.9% 207.8%
FR Pharmaceuticals -0.1% 0% 2.5% 9.9% 6% 1.7%
FR Market -2.3% -4.8% 2.2% -4% 23.9% 25.8%
1 Year Return vs Industry and Market
  • IPN underperformed the Pharmaceuticals industry which returned 9.9% over the past year.
  • IPN underperformed the Market in France which returned -4% over the past year.
Price Volatility
IPN
Industry
5yr Volatility vs Market

IPN Value

 Is Ipsen 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 Ipsen 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 Ipsen.

ENXTPA:IPN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year FR Government Bond Rate 0.7%

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 ENXTPA:IPN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
Pharmaceuticals Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.694 (1 + (1- 33%) (6.38%))
0.815
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (0.815 * 6.65%)
6.15%

Discounted Cash Flow Calculation for ENXTPA:IPN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ipsen 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.

ENXTPA:IPN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.15%)
2019 474.30 Analyst x8 446.82
2020 594.73 Analyst x9 527.80
2021 668.40 Analyst x7 558.81
2022 724.49 Est @ 8.39% 570.60
2023 768.63 Est @ 6.09% 570.30
2024 803.11 Est @ 4.49% 561.35
2025 830.09 Est @ 3.36% 546.59
2026 851.44 Est @ 2.57% 528.16
2027 868.64 Est @ 2.02% 507.60
2028 882.83 Est @ 1.63% 486.01
Present value of next 10 years cash flows €5,304.03
ENXTPA:IPN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €882.83 × (1 + 0.73%) ÷ (6.15% – 0.73%)
€16,414.10
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €16,414.10 ÷ (1 + 6.15%)10
€9,036.05
ENXTPA:IPN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €5,304.03 + €9,036.05
€14,340.09
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €14,340.09 / 83.07
€172.64
ENXTPA:IPN Discount to Share Price
Calculation Result
Value per share (EUR) From above. €172.64
Current discount Discount to share price of €110.80
= -1 x (€110.80 - €172.64) / €172.64
35.8%

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

Current Discount
Amount off the current price Ipsen is available for.
Intrinsic value
36%
Share price is €110.8 vs Future cash flow value of €172.64
Current Discount Checks
For Ipsen to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Ipsen's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Ipsen'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 Ipsen's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ipsen's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:IPN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €4.67
ENXTPA:IPN Share Price ** ENXTPA (2019-05-24) in EUR €110.8
France Pharmaceuticals Industry PE Ratio Median Figure of 6 Publicly-Listed Pharmaceuticals Companies 22.4x
France Market PE Ratio Median Figure of 421 Publicly-Listed Companies 17.39x

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

** Primary Listing of Ipsen.

ENXTPA:IPN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:IPN Share Price ÷ EPS (both in EUR)

= 110.8 ÷ 4.67

23.7x

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

  • Ipsen is overvalued based on earnings compared to the FR Pharmaceuticals industry average.
  • Ipsen is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Ipsen's expected growth come at a high price?
Raw Data
ENXTPA:IPN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.7x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
13.7%per year
France Pharmaceuticals Industry PEG Ratio Median Figure of 6 Publicly-Listed Pharmaceuticals Companies 1.75x
France Market PEG Ratio Median Figure of 268 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

ENXTPA:IPN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.7x ÷ 13.7%

1.73x

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

  • Ipsen is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Ipsen's assets?
Raw Data
ENXTPA:IPN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €22.16
ENXTPA:IPN Share Price * ENXTPA (2019-05-24) in EUR €110.8
France Pharmaceuticals Industry PB Ratio Median Figure of 8 Publicly-Listed Pharmaceuticals Companies 1.67x
France Market PB Ratio Median Figure of 621 Publicly-Listed Companies 1.42x
ENXTPA:IPN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:IPN Share Price ÷ Book Value per Share (both in EUR)

= 110.8 ÷ 22.16

5x

* Primary Listing of Ipsen.

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

  • Ipsen is overvalued based on assets compared to the FR Pharmaceuticals industry average.
X
Value checks
We assess Ipsen'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 Pharmaceuticals 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 Pharmaceuticals industry average (and greater than 0)? (1 check)
  5. Ipsen has a total score of 1/6, 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.

IPN Future Performance

 How is Ipsen expected to perform in the next 1 to 3 years based on estimates from 14 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
13.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ipsen expected to grow at an attractive rate?
  • Ipsen's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Ipsen's earnings growth is expected to exceed the France market average.
  • Ipsen's revenue growth is expected to exceed the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:IPN Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:IPN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 13.7%
ENXTPA:IPN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 7.9%
France Pharmaceuticals Industry Earnings Growth Rate Market Cap Weighted Average 12.2%
France Pharmaceuticals Industry Revenue Growth Rate Market Cap Weighted Average 3.7%
France Market Earnings Growth Rate Market Cap Weighted Average 13.2%
France Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
ENXTPA:IPN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:IPN Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 3,478 989 809 3
2022-12-31 3,251 902 722 2
2021-12-31 3,076 888 685 12
2020-12-31 2,855 773 597 14
2019-12-31 2,595 634 530 14
ENXTPA:IPN Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 2,348 571 388
2018-09-30 2,258 365
2018-06-30 2,167 502 343
2018-03-31 2,090 463 307
2017-12-31 2,012 423 270
2017-09-30 1,923 243
2017-06-30 1,834 316 217
2017-03-31 1,753 317 221
2016-12-31 1,671 318 226
2016-09-30 1,623 229
2016-06-30 1,575 318 233
2016-03-31 1,548 271 211

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ipsen's earnings are expected to grow by 13.7% yearly, however this is not considered high growth (20% yearly).
  • Ipsen's revenue is expected to grow by 7.9% 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
ENXTPA:IPN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Ipsen Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:IPN Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 9.67 9.73 9.61 2.00
2022-12-31 8.63 8.81 8.45 2.00
2021-12-31 8.07 8.88 7.25 7.00
2020-12-31 7.10 7.92 6.17 10.00
2019-12-31 6.22 6.88 5.24 10.00
ENXTPA:IPN Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 4.67
2018-09-30 4.41
2018-06-30 4.15
2018-03-31 3.71
2017-12-31 3.27
2017-09-30 2.95
2017-06-30 2.63
2017-03-31 2.69
2016-12-31 2.74
2016-09-30 2.79
2016-06-30 2.83
2016-03-31 2.57

*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.
  • Ipsen is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Ipsen'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 France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France 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.
Ipsen has a total score of 4/6, 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.

IPN Past Performance

  How has Ipsen 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 Ipsen's growth in the last year to its industry (Pharmaceuticals).
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.
  • Ipsen has delivered over 20% year on year earnings growth in the past 5 years.
  • Ipsen's 1-year earnings growth exceeds its 5-year average (43.5% vs 20.5%)
  • Ipsen's earnings growth has exceeded the Europe Pharmaceuticals industry average in the past year (43.5% vs 12%).
Earnings and Revenue History
Ipsen'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 Ipsen Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:IPN 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 2,348.40 387.50 954.10 302.10
2018-09-30 2,257.80 365.30 931.40 291.70
2018-06-30 2,167.20 343.10 908.70 281.30
2018-03-31 2,089.50 306.55 883.15 273.55
2017-12-31 2,011.80 270.00 857.60 265.80
2017-09-30 1,923.00 243.40 821.10 264.10
2017-06-30 1,834.20 216.80 784.60 262.40
2017-03-31 1,752.65 221.30 751.70 246.85
2016-12-31 1,671.10 225.80 718.80 231.30
2016-09-30 1,623.00 229.35 702.85 213.55
2016-06-30 1,574.90 232.90 686.90 195.80
2016-03-31 1,547.55 211.15 676.40 194.20
2015-12-31 1,520.20 189.40 665.90 192.60
2015-09-30 1,467.85 164.50 650.75 191.85
2015-06-30 1,415.50 139.60 635.60 191.10
2015-03-31 1,373.95 146.80 606.35 189.00
2014-12-31 1,332.40 154.00 577.10 186.90
2014-09-30 1,309.55 154.90 557.15 189.95
2014-06-30 1,286.70 155.80 537.20 193.00
2014-03-31 1,284.25 148.70 542.85 194.40
2013-12-31 1,281.80 141.60 548.50 195.80
2013-06-30 1,283.11 87.30 570.75 220.25
2013-03-31 1,280.26 92.10 571.70 234.20
2012-12-31 1,277.41 96.90 572.65 248.15
2012-06-30 1,248.97 81.40 551.37 247.13

*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.
  • Ipsen has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Ipsen used its assets more efficiently than the FR Pharmaceuticals industry average last year based on Return on Assets.
  • Ipsen has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ipsen'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 Pharmaceuticals 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.
Ipsen has a total score of 6/6, 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.

IPN Health

 How is Ipsen'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 Ipsen's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ipsen is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ipsen's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ipsen'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 2x 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 Ipsen Company Filings, last reported 4 months ago.

ENXTPA:IPN Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,843.40 587.30 345.10
2018-09-30 1,843.40 587.30 345.10
2018-06-30 1,667.80 790.30 359.30
2018-03-31 1,667.80 790.30 359.30
2017-12-31 1,535.90 692.60 228.00
2017-09-30 1,535.90 692.60 228.00
2017-06-30 1,408.00 870.10 200.60
2017-03-31 1,408.00 870.10 200.60
2016-12-31 1,362.20 356.90 425.50
2016-09-30 1,362.20 356.90 425.50
2016-06-30 1,258.10 360.20 377.60
2016-03-31 1,258.10 360.20 377.60
2015-12-31 1,225.60 39.20 226.10
2015-09-30 1,225.60 39.20 226.10
2015-06-30 1,134.60 22.60 92.90
2015-03-31 1,134.60 22.60 92.90
2014-12-31 1,067.90 25.40 186.40
2014-09-30 1,067.90 25.40 186.40
2014-06-30 982.80 101.40 132.00
2014-03-31 982.80 101.40 132.00
2013-12-31 973.70 25.40 131.20
2013-06-30 939.70 66.10 122.80
2013-03-31 939.70 66.10 122.80
2012-12-31 904.55 24.73 114.16
2012-06-30 1,055.09 26.29 85.91
  • Ipsen's level of debt (31.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (2.7% vs 31.9% today).
  • Debt is well covered by operating cash flow (97.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 106.8x coverage).
X
Financial health checks
We assess Ipsen'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. Ipsen has a total score of 5/6, 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.

IPN Dividends

 What is Ipsen'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
0.9%
Current annual income from Ipsen dividends. Estimated to be 1.17% next year.
If you bought €2,000 of Ipsen shares you are expected to receive €18 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?
  • Ipsen's pays a lower dividend yield than the bottom 25% of dividend payers in France (1.59%).
  • Ipsen's dividend is below the markets top 25% of dividend payers in France (4.51%).
Upcoming dividend payment

Purchase Ipsen before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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
ENXTPA:IPN 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 14 Analyst Estimates (S&P Global) See Below
Europe Pharmaceuticals Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.4%
France Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.1%
France Minimum Threshold Dividend Yield 10th Percentile 0.9%
France Bottom 25% Dividend Yield 25th Percentile 1.6%
France Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTPA:IPN Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.95 3.00
2022-12-31 1.57 3.00
2021-12-31 1.31 12.00
2020-12-31 1.22 14.00
2019-12-31 1.13 11.00
ENXTPA:IPN Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-05-07 1.000 0.941
2018-05-25 1.000 0.790
2017-06-07 0.850 0.745
2016-03-30 0.850 1.286
2016-03-01 0.850 1.764
2015-05-11 0.850 1.541
2014-03-26 0.800 2.111
2014-02-28 0.800 2.557
2013-05-31 0.800 2.635
2012-06-01 0.800 3.646
2011-05-27 0.800 3.610
2010-05-28 0.750 2.933
2009-06-04 0.700 1.970

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

  • Ipsen is not paying a notable dividend for France, therefore no need to check if the payments are stable.
  • Ipsen is not paying a notable dividend for France, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Ipsen's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Ipsen's dividends as it is not paying a notable one for France.
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (6.7x coverage).
X
Income/ dividend checks
We assess Ipsen'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 Ipsen afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ipsen has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

IPN Management

 What is the CEO of Ipsen'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
David Meek
COMPENSATION €3,914,446
AGE 55
TENURE AS CEO 2.8 years
CEO Bio

Mr. David D. Meek serves as Industry Advisor at Agent Capital, LLC. He has been the Chief Executive Officer of Ipsen S.A. since July 18, 2016. Prior to that, Mr. Meek served as an Executive Vice President and President of Oncology at Baxalta Incorporated until July 2016. He served as Baxter's Vice President, Global Head of Oncology since early 2014. He served as Chief Commercial Officer of Endocyte, Inc. from August 2012 to July 2014 and served as its Executive Officer from June 02, 2014 to August 29, 2014. He has been a Non Executive Director of uniQure N.V. since June 13, 2018. Mr. Meek has more than 25 years of pharmaceutical industry experience, including general management in North America and Europe and numerous successful launches for oncology and specialty products. He served at Novartis Pharma AG for more than seven years, where he served as the head of northern and central Europe oncology and launched key new oncology products and indications for Novartis. Previously, he served as President and Chief Executive Officer of Novartis Pharmaceuticals Canada, where he oversaw the launch of Lucentis and other specialty products and he also served as the global business franchise head for Novartis' respiratory and dermatology franchise in Basel, Switzerland. He was employed at Novartis from 2005 to 2012, where Mr. Meek served as President and Chief Executive Officer of the pharmaceutical division in Canada; and the Head of Oncology for Northern, Central and Eastern Europe, based in Milan, Italy. He started his career at Johnson & Johnson and Janssen Pharmaceutica from 1989 to 2004 where he held a variety of U.S. senior sales and marketing positions across multiple therapeutic areas in primary care (gastroenterology, pain management, dermatology) and specialty care (oncology, neuroscience). Prior to joining Novartis, he was at Johnson & Johnson for 15 years, where he held a variety of senior sales and marketing roles across multiple therapeutic areas, including oncology. He has been Director of Ipsen S.A. since June 7, 2017. Mr. Meek holds a B.A. in management from the University of Cincinnati.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year, both up more than 20%.
  • David's remuneration is higher than average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Ipsen management team in years:

2.5
Average Tenure
55
Average Age
  • The tenure for the Ipsen management team is about average.
Management Team

David Meek

TITLE
CEO & Director
COMPENSATION
€4M
AGE
55
TENURE
2.8 yrs

Aymeric Le Chatelier

TITLE
Executive VP & CFO
AGE
49
TENURE
4.5 yrs

Aidan Murphy

TITLE
Executive Vice President of Technical Operations
AGE
52
TENURE
1.3 yrs

Alex Lebeaut

TITLE
Executive VP of Research & Development and Chief Scientific Officer
AGE
61
TENURE
2.1 yrs

Eugenia Litz

TITLE
Vice President of Investor Relations
TENURE
2.9 yrs

François Garnier

TITLE
Executive VP & General Counsel
AGE
56
TENURE
4.3 yrs

Christian Marcoux

TITLE
Senior Vice-President of Global Communications
TENURE
0.4 yrs

Régis Mulot

TITLE
Executive VP & Chief Human Resources Officer
AGE
52
TENURE
1.2 yrs

Stephan Gagne

TITLE
Head of New Tokyo Office
TENURE
8.3 yrs

Dominique Laymand

TITLE
Executive Vice President Ethics and Social Responsibility Officer
AGE
64
TENURE
1.6 yrs
Board of Directors Tenure

Average tenure and age of the Ipsen board of directors in years:

7.9
Average Tenure
56.5
Average Age
  • The tenure for the Ipsen board of directors is about average.
Board of Directors

Marc M. De Garidel

TITLE
Non-Executive Chairman
COMPENSATION
€3M
AGE
60
TENURE
8.5 yrs

David Meek

TITLE
CEO & Director
COMPENSATION
€4M
AGE
55
TENURE
1.9 yrs

Antoine Flochel

TITLE
Vice Chairman
COMPENSATION
€160K
AGE
53
TENURE
10.9 yrs

Christian de la Tour

TITLE
Chairman of Ipsen UK
AGE
58
TENURE
10.2 yrs

Carol Xueref

TITLE
Director
COMPENSATION
€75K
AGE
63
TENURE
6.9 yrs

Margaret Liu

TITLE
Director
COMPENSATION
€10K
AGE
62
TENURE
1.9 yrs

Carol Stuckley

TITLE
Independent Director
COMPENSATION
€9K
AGE
63
TENURE
1.9 yrs

Henri Beaufour

TITLE
Director
COMPENSATION
€66K
AGE
53
TENURE
13.8 yrs

Anne Beaufour

TITLE
Director
COMPENSATION
€94K
AGE
55
TENURE
13.8 yrs

Philippe Bonhomme

TITLE
Director
COMPENSATION
€60K
AGE
49
TENURE
7.3 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 (€)
X
Management checks
We assess Ipsen'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. Ipsen 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.

IPN News

Simply Wall St News

Ipsen S.A. (EPA:IPN): Financial Strength Analysis

Additionally, IPN has generated cash from operations of €571m during the same period of time, resulting in an operating cash to total debt ratio of 97%, signalling that IPN’s current level of operating cash is high enough to cover debt. … With current liabilities at €959m, it seems that the business has been able to meet these commitments with a current assets level of €1.2b, leading to a 1.24x current account ratio. … With a debt-to-equity ratio of 32%, IPN's debt level may be seen as prudent.

Simply Wall St -

An Intrinsic Calculation For Ipsen S.A. (EPA:IPN) Suggests It's 36% Undervalued

Generally we assume that a dollar today is more valuable than a dollar in the future, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (€, Millions) €471.43 €593.00 €663.32 €716.79 €758.81 €791.62 €817.31 €837.69 €854.14 €867.77 Growth Rate Estimate Source Analyst x8 Analyst x9 Analyst x6 Est @ 8.06% Est @ 5.86% Est @ 4.32% Est @ 3.25% Est @ 2.49% Est @ 1.96% Est @ 1.6% Present Value (€, Millions) Discounted @ 6.18% €443.98 €525.96 €554.08 €563.88 €562.19 €552.35 €537.08 €518.42 €497.83 €476.32 Present Value of 10-year Cash Flow (PVCF)= €5.23b "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = €868m × (1 + 0.7%) ÷ (6.2% – 0.7%) = €16b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = €€16b ÷ ( 1 + 6.2%)10 = €8.81b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is €14.04b. … ENXTPA:IPN Intrinsic value, May 16th 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Why Ipsen S.A. (EPA:IPN) Is A Buy When Markets Go Down

is a financially healthy and robust stock with a proven track record of outperformance. … We all know Ipsen, and having this large-cap to cushion your portfolio during a volatile period in the stock market isn't a bad idea. … Today I will give a high-level overview of the stock, and why I believe it's still attractive.

Simply Wall St -

Ipsen S.A. (EPA:IPN): Is It A Good Long Term Opportunity?

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … (EPA:IPN) released its latest earnings announcement, whicha

Simply Wall St -

Could The Ipsen S.A. (EPA:IPN) Ownership Structure Tell Us Something Useful?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … We also tend to see lower insider ownership in companies that were previously publicly owned. … institutions are noticeable on the share registry.

Simply Wall St -

I Ran A Stock Scan For Earnings Growth And Ipsen (EPA:IPN) Passed With Ease

One way to double-check a company's growth is to look at how its revenue, and earnings before interest and tax (EBIT) margins are changing. … Ipsen shareholders can take confidence from the fact that EBIT margins are up from 20% to 24%, and revenue is growing. … You can take a look at the company's revenue and earnings growth trend, in the chart below.

Simply Wall St -

Should You Be Excited About Ipsen S.A.'s (EPA:IPN) 21% Return On Equity?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows Ipsen has a return on equity of 21% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Ipsen S.A.'s (EPA:IPN) Growth Strong Enough To Justify Its March Share Price?

(EPA:IPN) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of €119 is based on unrealistic expectations. … Let’s look into this by assessing IPN's expected growth over the next few years. … Analysts are predicting good growth prospects for Ipsen over the next couple of years

Simply Wall St -

Ipsen's (EPA:IPN) Wonderful 311% Share Price Increase Shows How Capitalism Can Build Wealth

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During five years of share price growth, Ipsen achieved compound earnings per share (EPS) growth of 22% per year. … This EPS growth is lower than the 33% average annual increase in the share price.

Simply Wall St -

Should We Worry About Ipsen S.A.'s (EPA:IPN) P/E Ratio?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Ipsen S.A.'s (EPA:IPN) P/E ratio and reflect on what it tells us about the company's share price. … Ipsen has a price to earnings ratio of 26.63, based on the last twelve months.

Simply Wall St -

IPN Company Info

Description

Ipsen S.A. operates as a biopharmaceutical company worldwide. It operates in two segments, Specialty Care and Consumer Healthcare. The company offers drugs in the areas of oncology, neuroscience, pituitary pathologies and growth disorders, gastrointestinal disorders, neurodegenerative pathologies, and rheumatology. Its products include Somatuline for neuroendocrine tumors and acromegaly; Cabometyx to treat renal cell and second-line hepatocellular carcinoma; Onivyde for metastatic pancreatic cancer; Decapeptyl to treat advanced metastatic prostate cancer, uterine fibroids, precocious puberty, endometriosis, female sterility, and early stage breast cancer; and Dysport for motor muscular disorders and medical aesthetics. The company also provides NutropinAq to treat growth failure in children due to growth hormone deficiency, turner syndrome, or chronic renal failure, as well as GH deficiency in adults; and Increlex for long-term treatment of growth failure in children and adolescents. In addition, it offers Smecta for the treatment of chronic and acute diarrhea, and pain linked to oesogastroduodenal conditions and colic; Forlax for constipation; and Fortrans/Eziclen for intestinal cleaning; Etiasa for inflammatory bowel diseases; and Tanakan to treat mild cognitive impairment related to age, pathophysiological deficiencies, vertigo, retinal deficits, acute or chronic hearing impairment, and tinnitus. Further, the company provides Adenuric for chronic hyperuricaemia; Prontalgine, an analgesic to treat moderate to severe pain; Buscopan, an antispasmodic; Suppositoria Glycerini, a laxative; and Mucothiol and Mucodyne, which are expectorants for cough and flu. The company has a strategic agreement with Arix Bioscience plc; and a global licensing and joint development agreement with The University of Texas MD Anderson Cancer Center. Ipsen S.A. was founded in 1929 and is headquartered in Boulogne-Billancourt, France. Ipsen S.A. is a subsidiary of Mayroy S.A.

Details
Name: Ipsen S.A.
IPN
Exchange: ENXTPA
Founded: 1929
€9,203,617,401
83,065,139
Website: http://www.ipsen.com
Address: Ipsen S.A.
65, quai Georges Gorse,
Cedex,
Boulogne-Billancourt,
Ile-de-France, 92650,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA IPN Ordinary Shares Euronext Paris FR EUR 07. Dec 2005
OTCPK IPSE.F Ordinary Shares Pink Sheets LLC US USD 07. Dec 2005
DB I7G Ordinary Shares Deutsche Boerse AG DE EUR 07. Dec 2005
LSE 0MH6 Ordinary Shares London Stock Exchange GB EUR 07. Dec 2005
BATS-CHIXE IPNP Ordinary Shares BATS 'Chi-X Europe' GB EUR 07. Dec 2005
OTCPK IPSE.Y SPON ADR Pink Sheets LLC US USD 21. Aug 2007
Number of employees
Current staff
Staff numbers
5,659
Ipsen employees.
Industry
Pharmaceuticals
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 20:55
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/24
Last earnings filing: 2019/03/27
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.