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ABC

Abcam AIM:ABC Stock Report

Last Price

UK£14.19

Market Cap

UK£3.2b

7D

8.2%

1Y

-5.6%

Updated

06 Oct, 2022

Data

Company Financials +
ABC fundamental analysis
Snowflake Score
Valuation5/6
Future Growth4/6
Past Performance0/6
Financial Health5/6
Dividends0/6

ABC Stock Overview

Abcam plc, a life science company, focuses on identifying, developing, and distributing reagents and tools for scientific research, diagnostics, and drug discovery.

Abcam Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Abcam
Historical stock prices
Current Share PriceUK£14.19
52 Week HighUK£17.60
52 Week LowUK£10.14
Beta0.57
1 Month Change16.89%
3 Month Change15.74%
1 Year Change-5.59%
3 Year Change29.12%
5 Year Change41.90%
Change since IPO3,421.09%

Recent News & Updates

Shareholder Returns

ABCGB BiotechsGB Market
7D8.2%4.3%2.1%
1Y-5.6%-37.8%-13.5%

Return vs Industry: ABC exceeded the UK Biotechs industry which returned -38.4% over the past year.

Return vs Market: ABC exceeded the UK Market which returned -12.6% over the past year.

Price Volatility

Is ABC's price volatile compared to industry and market?
ABC volatility
ABC Average Weekly Movement5.0%
Biotechs Industry Average Movement7.8%
Market Average Movement5.6%
10% most volatile stocks in GB Market10.7%
10% least volatile stocks in GB Market2.9%

Stable Share Price: ABC is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: ABC's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19981,682Alan Hirzelhttps://www.abcam.com

Abcam plc, a life science company, focuses on identifying, developing, and distributing reagents and tools for scientific research, diagnostics, and drug discovery. Its principal products include primary and secondary antibodies; conjugated antibodies and conjugation kits; singleplex and multiplex immunoassays; proteins and peptides that include cytokines; edited cell lines and lysates; and various other products, including cellular activity kits, miRNA kits, biochemicals, and cell signaling pathway tools. The company serves scientists and researchers in academic institutions and research institutes, as well as in pharmaceutical, biotechnology, and diagnostics companies.

Abcam Fundamentals Summary

How do Abcam's earnings and revenue compare to its market cap?
ABC fundamental statistics
Market CapUK£3.24b
Earnings (TTM)UK£7.30m
Revenue (TTM)UK£350.40m

444.5x

P/E Ratio

9.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ABC income statement (TTM)
RevenueUK£350.40m
Cost of RevenueUK£89.90m
Gross ProfitUK£260.50m
Other ExpensesUK£253.20m
EarningsUK£7.30m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.032
Gross Margin74.34%
Net Profit Margin2.08%
Debt/Equity Ratio16.4%

How did ABC perform over the long term?

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

Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales 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 ABC?

Other financial metrics that can be useful for relative valuation.

ABC 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/Revenue9.6x
Enterprise Value/EBITDA43.5x
PEG Ratio10.1x

Price to Sales Ratio vs Peers

How does ABC's PS Ratio compare to its peers?

ABC PS Ratio vs Peers
The above table shows the PS ratio for ABC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average21.5x
GNS Genus
2.8x7.5%UK£1.7b
PRTC PureTech Health
43.4x33.2%UK£721.5m
AVCT Avacta Group
36.9x-43.4%UK£256.3m
OXB Oxford Biomedica
2.6x10.3%UK£329.6m
ABC Abcam
9.3x13.7%UK£3.2b

Price-To-Sales vs Peers: ABC is good value based on its Price-To-Sales Ratio (9.3x) compared to the peer average (21.5x).


Price to Earnings Ratio vs Industry

How does ABC's PE Ratio compare vs other companies in the GB Biotechs Industry?

Price-To-Sales vs Industry: ABC is good value based on its Price-To-Sales Ratio (9.3x) compared to the European Biotechs industry average (12.8x)


Price to Sales Ratio vs Fair Ratio

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

ABC PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio9.3x
Fair PS Ratio11.6x

Price-To-Sales vs Fair Ratio: ABC is good value based on its Price-To-Sales Ratio (9.3x) compared to the estimated Fair Price-To-Sales Ratio (11.6x).


Share Price vs Fair Value

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

Below Fair Value: ABC (£14.19) is trading below our estimate of fair value (£20.21)

Significantly Below Fair Value: ABC 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 less than 20% higher than the current share price.


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Future Growth

How is Abcam forecast to perform in the next 1 to 3 years based on estimates from 10 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


44.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ABC's forecast earnings growth (44.1% per year) is above the savings rate (0.9%).

Earnings vs Market: ABC's earnings (44.1% per year) are forecast to grow faster than the UK market (8.7% per year).

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

Revenue vs Market: ABC's revenue (13.7% per year) is forecast to grow faster than the UK market (3.5% per year).

High Growth Revenue: ABC's revenue (13.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ABC's Return on Equity is forecast to be low in 3 years time (13.6%).


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Past Performance

How has Abcam performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-36.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ABC has a large one-off loss of £45.1M impacting its June 30 2022 financial results.

Growing Profit Margin: ABC's current net profit margins (2.1%) are lower than last year (5.4%).


Past Earnings Growth Analysis

Earnings Trend: ABC's earnings have declined by 36% per year over the past 5 years.

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

Earnings vs Industry: ABC had negative earnings growth (-54.9%) over the past year, making it difficult to compare to the Biotechs industry average (-16.7%).


Return on Equity

High ROE: ABC's Return on Equity (1%) is considered low.


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Financial Health

How is Abcam's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: ABC's short term assets (£257.8M) exceed its short term liabilities (£203.8M).

Long Term Liabilities: ABC's short term assets (£257.8M) exceed its long term liabilities (£133.3M).


Debt to Equity History and Analysis

Debt Level: ABC's net debt to equity ratio (1.3%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if ABC's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: ABC's debt is well covered by operating cash flow (45.6%).

Interest Coverage: ABC's interest payments on its debt are well covered by EBIT (16x coverage).


Balance Sheet


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Dividend

What is Abcam 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

Dividend Yield vs Market

Abcam Dividend Yield vs Market
How does Abcam dividend yield compare to the market?
SegmentDividend Yield
Company (Abcam)0%
Market Bottom 25% (GB)2.1%
Market Top 25% (GB)6.0%
Industry Average (Biotechs)2.2%
Analyst forecast in 3 Years (Abcam)0%

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

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

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


Earnings Payout to Shareholders

Earnings Coverage: ABC is not paying a notable dividend for the UK market.


Cash Payout to Shareholders

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


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Management

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

6.8yrs

Average management tenure


CEO

Alan Hirzel (54 yo)

8.75yrs

Tenure

UK£3,198,210

Compensation

Mr. Alan Thomas Hirzel, BS, MS, MBA, has been the Chief Executive Officer of Abcam Plc since September 8, 2014 and its Executive Director since January 30, 2014. Mr. Hirzel served as the Chief Marketing Of...


CEO Compensation Analysis

Alan Hirzel's Compensation vs Abcam Earnings
How has Alan Hirzel's remuneration changed compared to Abcam's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

UK£7m

Mar 31 2022n/an/a

UK£6m

Dec 31 2021UK£3mUK£630k

UK£4m

Jun 30 2021n/an/a

UK£16m

Mar 31 2021n/an/a

UK£7m

Dec 31 2020n/an/a

UK£26m

Sep 30 2020n/an/a

UK£5m

Jun 30 2020UK£2mUK£615k

UK£13m

Mar 31 2020n/an/a

UK£27m

Dec 31 2019n/an/a

UK£43m

Sep 30 2019n/an/a

UK£44m

Jun 30 2019UK£2mUK£600k

UK£44m

Mar 31 2019n/an/a

UK£51m

Dec 31 2018n/an/a

UK£58m

Sep 30 2018n/an/a

UK£60m

Jun 30 2018UK£2mUK£492k

UK£62m

Mar 31 2018n/an/a

UK£59m

Dec 31 2017n/an/a

UK£55m

Sep 30 2017n/an/a

UK£49m

Jun 30 2017UK£1mUK£480k

UK£42m

Mar 31 2017n/an/a

UK£41m

Dec 31 2016n/an/a

UK£40m

Sep 30 2016n/an/a

UK£39m

Jun 30 2016UK£614kUK£320k

UK£37m

Compensation vs Market: Alan's total compensation ($USD3.58M) is above average for companies of similar size in the UK market ($USD2.71M).

Compensation vs Earnings: Alan's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

Experienced Management: ABC's management team is seasoned and experienced (6.8 years average tenure).


Board Members

Experienced Board: ABC's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


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.


Recent Insider Transactions

AIM:ABC Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
04 Apr 22BuyUK£8,748Sally CrawfordIndividual609UK£14.36
04 Apr 22BuyUK£24,692Giles F. KerrIndividual1,719UK£14.36
04 Apr 22BuyUK£67,281Peter AllenIndividual4,684UK£14.36
04 Apr 22BuyUK£43,623Mara AspinallIndividual3,037UK£14.36
04 Apr 22BuyUK£22,753Mark CaponeIndividual1,584UK£14.36
04 Apr 22BuyUK£14,637Chien Ling LeeIndividual1,019UK£14.36

Ownership Breakdown

What is the ownership structure of ABC?
Owner TypeNumber of SharesOwnership Percentage
Private Companies186,4060.08%
Employee Share Scheme413,8700.2%
Public Companies1,134,7180.5%
Individual Insiders15,377,6136.5%
Hedge Funds16,013,3646.8%
Institutions203,239,99786.0%

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


Top Shareholders

Top 25 shareholders own 80.12% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
10.49%
Wellington Management Group LLP
23,993,697£340.5m-0.45%0.06%
9.38%
T. Rowe Price Group, Inc.
21,444,730£304.3m-4.63%0.04%
7%
Durable Capital Partners, LP
16,013,364£227.2m24.86%2.64%
6.57%
Jonathan Milner
15,030,587£213.3m-3.16%no data
5.52%
Baillie Gifford & Co.
12,620,440£179.1m-12.96%0.1%
5.15%
Harding Loevner LP
11,768,122£167.0m-9.11%0.54%
3.63%
Wasatch Advisors Inc
8,309,567£117.9m18.05%0.63%
3.5%
Brown Capital Management, LLC
7,992,211£113.4m273.12%1.34%
2.66%
AllianceBernstein L.P.
6,077,112£86.2m-0.34%0.04%
2.61%
Columbia Management Investment Advisers, LLC
5,958,427£84.6m12.17%0.03%
2.49%
BlackRock, Inc.
5,691,738£80.8m-15.02%no data
2.07%
Liontrust Asset Management PLC
4,733,938£67.2m-27.25%0.33%
1.97%
Brown Advisory Incorporated
4,515,291£64.1m29.21%0.13%
1.93%
Walter Scott & Partners Limited
4,419,100£62.7m32.79%0.19%
1.69%
Jarislowsky, Fraser Limited
3,854,960£54.7m26.36%0.36%
1.6%
GLG Partners, Inc.
3,649,130£51.8m3.76%0.75%
1.51%
Mitsubishi UFJ Asset Management (UK) Ltd.
3,459,086£49.1m0%3.69%
1.46%
Janus Henderson Group plc
3,348,462£47.5m-0.55%0.03%
1.45%
Morgan Stanley, Investment Banking and Brokerage Investments
3,324,641£47.2m-13.73%0.01%
1.39%
Neuberger Berman Investment Advisers LLC
3,167,105£44.9m4.71%0.04%
1.38%
Champlain Investment Partners, LLC
3,154,195£44.8m25.2%0.32%
1.37%
Invesco Ltd.
3,136,422£44.5m3.87%0.02%
1.2%
FMR LLC
2,741,817£38.9m-6.49%no data
1.13%
Massachusetts Financial Services Company
2,579,057£36.6m-0.18%0.01%
0.97%
BNY Mellon Asset Management
2,217,571£31.5m1.71%0.01%

Company Information

Abcam plc's employee growth, exchange listings and data sources


Key Information

  • Name: Abcam plc
  • Ticker: ABC
  • Exchange: AIM
  • Founded: 1998
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: UK£3.245b
  • Shares outstanding: 228.65m
  • Website: https://www.abcam.com

Number of Employees


Location

  • Abcam plc
  • Discovery Drive
  • Cambridge Biomedical Campus
  • Cambridge
  • Cambridgeshire
  • CB2 0AX
  • United Kingdom


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ABCAIM (London Stock Exchange AIM Market)YesOrdinary SharesGBGBPNov 2005
ABCZ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 2005
A8C1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2005
ABCMNasdaqGS (Nasdaq Global Select)ADSUSUSDOct 2020
ABCM NBMV (Bolsa Mexicana de Valores)ADSMXMXNOct 2020

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/06 00:00
End of Day Share Price2022/10/06 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.