BioPharma Credit (LSE:BPCR) - Share price, News & Analysis

BPCR fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	3/6
Financial Health	6/6
Dividends	2/6

BPCR Stock Overview

BioPharma Credit PLC, an investment trust, primarily invests in interest-bearing debt assets.

Rewards

Trading at 26.5% below our estimate of its fair value

Risk Analysis

Dividend of 7.13% is not well covered by earnings or forecast to be in the next 3 years

BioPharma Credit Competitors

Price History & Performance

Summary of all time highs, changes and price drops for BioPharma Credit
Historical stock prices
Current Share Price	US$0.98
52 Week High	US$1.05
52 Week Low	US$0.94
Beta	0.22
1 Month Change	-0.61%
3 Month Change	-4.20%
1 Year Change	1.45%
3 Year Change	-5.58%
5 Year Change	-9.70%
Change since IPO	-4.89%

Shareholder Returns

	BPCR	GB Capital Markets	GB Market
7D	1.7%	-0.8%	0.6%
1Y	1.4%	-11.8%	-2.7%

Return vs Industry: BPCR exceeded the UK Capital Markets industry which returned -12.5% over the past year.

Return vs Market: BPCR exceeded the UK Market which returned -4% over the past year.

Price Volatility

Is BPCR's price volatile compared to industry and market?
BPCR volatility
BPCR Average Weekly Movement	1.9%
Capital Markets Industry Average Movement	4.9%
Market Average Movement	6.0%
10% most volatile stocks in GB Market	11.6%
10% least volatile stocks in GB Market	3.1%

Stable Share Price: BPCR is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: BPCR's weekly volatility (2%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2016	n/a	n/a	https://www.bpcruk.com

BioPharma Credit PLC, an investment trust, primarily invests in interest-bearing debt assets. Its assets are secured by royalties or other cash flows derived from the sales of approved life sciences products. The company was incorporated in 2016 and is based in Exeter, the United Kingdom.

BioPharma Credit Fundamentals Summary

How do BioPharma Credit's earnings and revenue compare to its market cap?
BPCR fundamental statistics
Market Cap	US$1.35b
Earnings (TTM)	US$84.96m
Revenue (TTM)	US$103.88m

15.9x

P/E Ratio

13.0x

P/S Ratio

Is BPCR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
BPCR income statement (TTM)
Revenue	US$103.88m
Cost of Revenue	US$0
Gross Profit	US$103.88m
Other Expenses	US$18.92m
Earnings	US$84.96m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.062
Gross Margin	100.00%
Net Profit Margin	81.79%
Debt/Equity Ratio	0.0%

How did BPCR perform over the long term?

See historical performance and comparison

Dividends

7.1%

Current Dividend Yield

113%

Payout Ratio

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

26.5%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: BPCR ($0.98) is trading below our estimate of fair value ($1.34)

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

Price To Earnings Ratio

PE vs Industry: BPCR is poor value based on its PE Ratio (15.9x) compared to the UK Capital Markets industry average (9.3x).

PE vs Market: BPCR is poor value based on its PE Ratio (15.9x) compared to the UK market (15.4x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BPCR's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: BPCR is good value based on its PB Ratio (1x) compared to the GB Capital Markets industry average (1.2x).

Future Growth

How is BioPharma Credit forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

11.2%

Forecasted Diversified Financials industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as BioPharma Credit has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has BioPharma Credit performed over the past 5 years?

Past Performance Score

3/6

Past Performance Score 3/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

7.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: BPCR has high quality earnings.

Growing Profit Margin: BPCR's current net profit margins (81.8%) are higher than last year (81%).

Past Earnings Growth Analysis

Earnings Trend: BPCR's earnings have grown by 7.2% per year over the past 5 years.

Accelerating Growth: BPCR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BPCR had negative earnings growth (-4.7%) over the past year, making it difficult to compare to the Capital Markets industry average (62.1%).

Return on Equity

High ROE: BPCR's Return on Equity (6.2%) is considered low.

Financial Health

How is BioPharma Credit'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: BPCR's short term assets ($104.7M) exceed its short term liabilities ($6.3M).

Long Term Liabilities: BPCR's short term assets ($104.7M) exceed its long term liabilities ($558.0K).

Debt to Equity History and Analysis

Debt Level: BPCR is debt free.

Reducing Debt: BPCR has not had any debt for past 5 years.

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

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

Balance Sheet

Dividend

What is BioPharma Credit current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

7.13%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: BPCR's dividend (7.13%) is higher than the bottom 25% of dividend payers in the UK market (1.8%).

High Dividend: BPCR's dividend (7.13%) is in the top 25% of dividend payers in the UK market (4.86%)

Stability and Growth of Payments

Stable Dividend: BPCR has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: BPCR's dividend payments have increased, but the company has only paid a dividend for 5 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (113.2%), BPCR's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (99.7%), BPCR's dividend payments are not well covered by cash flows.

Discover strong dividend paying companies

Management

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

5.3yrs

Average board tenure

CEO

BioPharma Credit has no CEO, or we have no data on them.

Board Members

Experienced Board: BPCR's board of directors are considered experienced (5.3 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

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

Data	Last Updated (UTC time)
Company Analysis	2022/05/23 00:00
End of Day Share Price	2022/05/23 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31