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Alliance Pharma AIM:APH Stock Report

Last Price


Market Cap







29 Jun, 2022


Company Financials +
APH fundamental analysis
Snowflake Score
Future Growth4/6
Past Performance0/6
Financial Health5/6

APH Stock Overview

Alliance Pharma plc operates as a pharmaceutical company in Europe, the Middle East, Africa, the Asia Pacific, China, and the Americas.

Alliance Pharma Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Alliance Pharma
Historical stock prices
Current Share PriceUK£1.13
52 Week HighUK£1.23
52 Week LowUK£0.95
1 Month Change-0.70%
3 Month Change-1.91%
1 Year Change13.71%
3 Year Change56.89%
5 Year Change117.97%
Change since IPO464.00%

Recent News & Updates

Shareholder Returns

APHGB PharmaceuticalsGB Market

Return vs Industry: APH underperformed the UK Pharmaceuticals industry which returned 20.4% over the past year.

Return vs Market: APH exceeded the UK Market which returned -6.8% over the past year.

Price Volatility

Is APH's price volatile compared to industry and market?
APH volatility
APH Average Weekly Movement3.5%
Pharmaceuticals Industry Average Movement5.5%
Market Average Movement5.5%
10% most volatile stocks in GB Market10.7%
10% least volatile stocks in GB Market2.8%

Stable Share Price: APH is less volatile than 75% of UK stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: APH's weekly volatility (4%) has been stable over the past year.

About the Company

1996256Peter Butterfield

Alliance Pharma plc operates as a pharmaceutical company in Europe, the Middle East, Africa, the Asia Pacific, China, and the Americas. The company acquires, markets, and distributes consumer healthcare and prescription medicine products. It holds the marketing rights of approximately 80 consumer healthcare and prescription medicine products.

Alliance Pharma Fundamentals Summary

How do Alliance Pharma's earnings and revenue compare to its market cap?
APH fundamental statistics
Market CapUK£623.68m
Earnings (TTM)UK£7.32m
Revenue (TTM)UK£163.21m


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
APH income statement (TTM)
Cost of RevenueUK£53.76m
Gross ProfitUK£109.45m
Other ExpensesUK£102.13m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Sep 20, 2022

Earnings per share (EPS)0.014
Gross Margin67.06%
Net Profit Margin4.48%
Debt/Equity Ratio41.1%

How did APH perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


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

Valuation Score


Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for APH?

Other financial metrics that can be useful for relative valuation.

APH 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/Revenue4.4x
Enterprise Value/EBITDA15.6x
PEG Ratio4x

Price to Earnings Ratio vs Peers

How does APH's PE Ratio compare to its peers?

APH PE Ratio vs Peers
The above table shows the PE ratio for APH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average23.2x
INDV Indivior
HIK Hikma Pharmaceuticals
DPH Dechra Pharmaceuticals
EAH ECO Animal Health Group
APH Alliance Pharma

Price-To-Earnings vs Peers: APH is expensive based on its Price-To-Earnings Ratio (83.2x) compared to the peer average (23.2x).

Price to Earnings Ratio vs Industry

How does APH's PE Ratio compare vs other companies in the European Pharmaceuticals Industry?

Price-To-Earnings vs Industry: APH is expensive based on its Price-To-Earnings Ratio (83.2x) compared to the UK Pharmaceuticals industry average (16.8x)

Price to Earnings Ratio vs Fair Ratio

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

APH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio83.2x
Fair PE Ratio34.5x

Price-To-Earnings vs Fair Ratio: APH is expensive based on its Price-To-Earnings Ratio (83.2x) compared to the estimated Fair Price-To-Earnings Ratio (34.5x).

Share Price vs Fair Value

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

Below Fair Value: APH (£1.13) is trading below our estimate of fair value (£2.54)

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

Price to Earnings Growth Ratio

PEG Ratio: APH is poor value based on its PEG Ratio (4x)

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Future Growth

How is Alliance Pharma forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score


Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: APH's forecast earnings growth (21% per year) is above the savings rate (0.9%).

Earnings vs Market: APH's earnings (21% per year) are forecast to grow faster than the UK market (11% per year).

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

Revenue vs Market: APH's revenue (8.3% per year) is forecast to grow faster than the UK market (4.1% per year).

High Growth Revenue: APH's revenue (8.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: APH's Return on Equity is forecast to be low in 3 years time (12.2%).

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Past Performance

How has Alliance Pharma performed over the past 5 years?

Past Performance Score


Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: APH has a large one-off loss of £16.5M impacting its December 31 2021 financial results.

Growing Profit Margin: APH's current net profit margins (4.5%) are lower than last year (6.2%).

Past Earnings Growth Analysis

Earnings Trend: APH's earnings have declined by 15.3% per year over the past 5 years.

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

Earnings vs Industry: APH had negative earnings growth (-8.8%) over the past year, making it difficult to compare to the Pharmaceuticals industry average (2.2%).

Return on Equity

High ROE: APH's Return on Equity (2.6%) is considered low.

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Financial Health

How is Alliance Pharma's financial position?

Financial Health Score


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: APH's short term assets (£81.0M) exceed its short term liabilities (£40.6M).

Long Term Liabilities: APH's short term assets (£81.0M) do not cover its long term liabilities (£180.4M).

Debt to Equity History and Analysis

Debt Level: APH's net debt to equity ratio (30.8%) is considered satisfactory.

Reducing Debt: APH's debt to equity ratio has reduced from 46.6% to 41.1% over the past 5 years.

Debt Coverage: APH's debt is well covered by operating cash flow (33.3%).

Interest Coverage: APH's interest payments on its debt are well covered by EBIT (10.5x coverage).

Balance Sheet

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What is Alliance Pharma current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: APH's dividend (1.5%) isn’t notable compared to the bottom 25% of dividend payers in the UK market (1.86%).

High Dividend: APH's dividend (1.5%) is low compared to the top 25% of dividend payers in the UK market (5.17%).

Stability and Growth of Payments

Stable Dividend: APH's dividend payments have been volatile in the past 10 years.

Growing Dividend: APH's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (123.7%), APH's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (26.9%), APH's dividend payments are well covered by cash flows.

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


Average management tenure


Peter Butterfield (45 yo)





Mr. Peter Jonathan Butterfield has been Chief Executive Officer of Alliance Pharma plc since May 01, 2018. Mr. Butterfield served as Deputy Chief Executive Officer and Chief Operating Officer of Alliance P...

CEO Compensation Analysis

Compensation vs Market: Peter's total compensation ($USD1.19M) is about average for companies of similar size in the UK market ($USD1.33M).

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

Leadership Team

Experienced Management: APH's management team is seasoned and experienced (5.9 years average tenure).

Board Members

Experienced Board: APH's board of directors are considered experienced (5.1 years average tenure).


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.

Top Shareholders

Company Information

Alliance Pharma plc's employee growth, exchange listings and data sources

Key Information

  • Name: Alliance Pharma plc
  • Ticker: APH
  • Exchange: AIM
  • Founded: 1996
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: UK£623.684m
  • Shares outstanding: 539.52m
  • Website:

Number of Employees


  • Alliance Pharma plc
  • Avonbridge House
  • Bath Road
  • Chippenham
  • Wiltshire
  • SN15 2BB
  • United Kingdom


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/29 00:00
End of Day Share Price2022/06/29 00:00
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.