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9926

Akeso SEHK:9926 Stock Report

Last Price

HK$25.45

Market Cap

HK$20.8b

7D

41.9%

1Y

-60.0%

Updated

24 Jun, 2022

Data

Company Financials +
9926 fundamental analysis
Snowflake Score
Valuation2/6
Future Growth5/6
Past Performance0/6
Financial Health5/6
Dividends0/6

9926 Stock Overview

Akeso, Inc., a biopharmaceutical company, researches, develops, manufactures, and commercializes therapies.

Akeso Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Akeso
Historical stock prices
Current Share PriceHK$25.45
52 Week HighHK$66.00
52 Week LowHK$11.50
Beta0.86
1 Month Change93.68%
3 Month Change43.62%
1 Year Change-59.95%
3 Year Changen/a
5 Year Changen/a
Change since IPO4.73%

Recent News & Updates

Shareholder Returns

9926HK BiotechsHK Market
7D41.9%13.0%2.1%
1Y-60.0%-53.7%-23.3%

Return vs Industry: 9926 underperformed the Hong Kong Biotechs industry which returned -56.5% over the past year.

Return vs Market: 9926 underperformed the Hong Kong Market which returned -23.3% over the past year.

Price Volatility

Is 9926's price volatile compared to industry and market?
9926 volatility
9926 Average Weekly Movement13.6%
Biotechs Industry Average Movement10.2%
Market Average Movement7.0%
10% most volatile stocks in HK Market13.8%
10% least volatile stocks in HK Market3.3%

Stable Share Price: 9926 is more volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: 9926's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of Hong Kong stocks.

About the Company

FoundedEmployeesCEOWebsite
20121,865Michelle Xiahttps://www.akesobio.com

Akeso, Inc., a biopharmaceutical company, researches, develops, manufactures, and commercializes therapies. The company develops AK104, a PD-1/CTLA-4 bi-specific antibody to treat cervical cancer, gastric cancer (GC), gastroesophageal junction (GEJ) adenocarcinoma, hepatocellular carcinoma (HCC), non-small cell lung cancer (NSCLC), small cell lung cancer (SCLC), nasopharyngeal carcinoma (NPC), clear cell renal cell carcinoma, and solid tumors; and AK112, a PD-1/VEGF bi-specific antibody to treat solid and gynecological tumors, NSCLC, SCLC, and triple-negative breast cancer (TNBC). It is also developing AK105, a PD-1 monoclonal antibody to treat NSCLC, NPC, classic Hodgkin’s lymphoma (R/R cHL), HCC, head and neck cancer, thyroid cancer, mesothelioma and thymic cancer, ESCC, UC, GC, GEJ, cholangiocarcinoma, neuroendocrine tumor, and mismatch repair deficient solid tumor; AK117, a CD47 monoclonal antibody to treat myelodysplastic syndrome, acute myeloid leukemia, GC, GEJ, ESCC, TNBC, HNSCC, R/R cHL, NPC, NSCLC, and solid tumors/lymphoma; AK119, a CD73 monoclonal antibody for treating solid tumors; and AK109, a VEGFR-2 monoclonal antibody to treat solid tumors and gastric cancer.

Akeso Fundamentals Summary

How do Akeso's earnings and revenue compare to its market cap?
9926 fundamental statistics
Market CapCN¥17.74b
Earnings (TTM)-CN¥1.07b
Revenue (TTM)CN¥225.63m

78.6x

P/S Ratio

-16.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
9926 income statement (TTM)
RevenueCN¥225.63m
Cost of RevenueCN¥30.22m
Gross ProfitCN¥195.41m
Other ExpensesCN¥1.27b
Earnings-CN¥1.07b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-1.32
Gross Margin86.61%
Net Profit Margin-476.42%
Debt/Equity Ratio25.9%

How did 9926 perform over the long term?

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

Valuation

Is 9926 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book 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 9926?

Other financial metrics that can be useful for relative valuation.

9926 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/Revenue70.9x
Enterprise Value/EBITDA-12.2x
PEG Ration/a

Price to Book Ratio vs Peers

How does 9926's PB Ratio compare to its peers?

9926 PB Ratio vs Peers
The above table shows the PB ratio for 9926 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average3.8x

Price-To-Book vs Peers: 9926 is expensive based on its Price-To-Book Ratio (5.6x) compared to the peer average (3.8x).


Price to Earnings Ratio vs Industry

How does 9926's PE Ratio compare vs other companies in the Hong Kong Biotechs Industry?

Price-To-Book vs Industry: 9926 is expensive based on its Price-To-Book Ratio (5.6x) compared to the Hong Kong Biotechs industry average (2.7x)


Price to Book Ratio vs Fair Ratio

What is 9926's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

9926 PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio5.6x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate 9926's Price-To-Book Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of 9926 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9926 (HK$25.45) is trading below our estimate of fair value (HK$81.23)

Significantly Below Fair Value: 9926 is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 9926's PEG Ratio to determine if it is good value.


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Future Growth

How is Akeso forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


55.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 9926 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.5%).

Earnings vs Market: 9926 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: 9926 is expected to become profitable in the next 3 years.

Revenue vs Market: 9926's revenue (39.5% per year) is forecast to grow faster than the Hong Kong market (10.1% per year).

High Growth Revenue: 9926's revenue (39.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 9926's Return on Equity is forecast to be low in 3 years time (0.8%).


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Past Performance

How has Akeso 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


-3.7%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: 9926 is currently unprofitable.

Growing Profit Margin: 9926 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if 9926's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare 9926's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 9926 is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (11.3%).


Return on Equity

High ROE: 9926 has a negative Return on Equity (-38.35%), as it is currently unprofitable.


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Financial Health

How is Akeso's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: 9926's short term assets (CN¥3.2B) exceed its short term liabilities (CN¥655.7M).

Long Term Liabilities: 9926's short term assets (CN¥3.2B) exceed its long term liabilities (CN¥869.8M).


Debt to Equity History and Analysis

Debt Level: 9926 has more cash than its total debt.

Reducing Debt: Insufficient data to determine if 9926's debt to equity ratio has reduced over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: 9926 has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: 9926 has sufficient cash runway for 2.9 years if free cash flow continues to reduce at historical rates of 60.3% each year.


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Dividend

What is Akeso 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

  • Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate 9926's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate 9926'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 9926's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 9926's dividend payments have been increasing.


Earnings Payout to Shareholders

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


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as 9926 has not reported any payouts.


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Management

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

1.9yrs

Average management tenure


CEO

Michelle Xia (55 yo)

10.25yrs

Tenure

Dr. Yu Xia, also known as Michelle, is CEO & President of Akeso Biopharma, Inc. Dr. Xia is Founder of Akeso, Inc. Dr. Xia is CEO, President & Chairwoman of Akeso, Inc. from March 19, 2012. She has been Exe...


Leadership Team

Experienced Management: 9926's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

Experienced Board: 9926's board of directors are not considered experienced ( 2.6 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

Ownership Breakdown

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


Top Shareholders

Company Information

Akeso, Inc.'s employee growth, exchange listings and data sources


Key Information

  • Name: Akeso, Inc.
  • Ticker: 9926
  • Exchange: SEHK
  • Founded: 2012
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: HK$20.794b
  • Shares outstanding: 817.06m
  • Website: https://www.akesobio.com

Number of Employees


Location

  • Akeso, Inc.
  • No. 6, Shennong Road
  • Torch Development Zone
  • Zhongshan
  • Guangdong Province
  • 528437
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/24 00:00
End of Day Share Price2022/06/24 00:00
Earnings2021/12/31
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.