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Galapagos

ENXTAM:GLPG
Snowflake Description

Excellent balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GLPG
ENXTAM
€6B
Market Cap
  1. Home
  2. NL
  3. Pharmaceuticals & Biotech
Company description

Galapagos NV, a clinical-stage biotechnology company, discovers, develops, and commercializes various small molecule medicines. The last earnings update was 25 days ago. More info.


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GLPG Share Price and Events
7 Day Returns
3.5%
ENXTAM:GLPG
2.5%
NL Biotechs
1.5%
NL Market
1 Year Returns
23.2%
ENXTAM:GLPG
8.2%
NL Biotechs
-3.2%
NL Market
GLPG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Galapagos (GLPG) 3.5% 2.9% 16% 23.2% 105.3% 567.9%
NL Biotechs 2.5% -0.8% 9.9% 8.2% 79.4% 50.1%
NL Market 1.5% -2.3% 3.3% -3.2% 27.9% 25.4%
1 Year Return vs Industry and Market
  • GLPG outperformed the Biotechs industry which returned 8.2% over the past year.
  • GLPG outperformed the Market in Netherlands which returned -3.2% over the past year.
Price Volatility
GLPG
Industry
5yr Volatility vs Market
Related Companies

GLPG Value

 Is Galapagos 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 Galapagos 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 Galapagos.

ENXTAM:GLPG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.9%
Perpetual Growth Rate 10-Year NL Government Bond Rate 0.4%

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 ENXTAM:GLPG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NL Govt Bond Rate 0.4%
Equity Risk Premium S&P Global 6.8%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.38
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.381 (1 + (1- 29%) (0.44%))
1.258
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.26
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.37% + (1.258 * 6.8%)
8.93%

Discounted Cash Flow Calculation for ENXTAM:GLPG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Galapagos 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.

ENXTAM:GLPG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.93%)
2019 -297.19 Analyst x5 -272.83
2020 -241.26 Analyst x7 -203.33
2021 -242.92 Analyst x5 -187.95
2022 -189.81 Analyst x2 -134.83
2023 239.14 Analyst x2 155.94
2024 349.05 Est @ 45.96% 208.96
2025 461.74 Est @ 32.28% 253.77
2026 566.61 Est @ 22.71% 285.88
2027 657.31 Est @ 16.01% 304.46
2028 731.70 Est @ 11.32% 311.14
Present value of next 10 years cash flows €721.22
ENXTAM:GLPG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €731.70 × (1 + 0.37%) ÷ (8.93% – 0.37%)
€8,582.07
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €8,582.07 ÷ (1 + 8.93%)10
€3,649.39
ENXTAM:GLPG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €721.22 + €3,649.39
€4,370.60
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €4,370.60 / 54.61
€80.03
ENXTAM:GLPG Discount to Share Price
Calculation Result
Value per share (EUR) From above. €80.03
Current discount Discount to share price of €104.60
= -1 x (€104.60 - €80.03) / €80.03
-30.7%

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

  • The current share price of Galapagos is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Galapagos's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Galapagos's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTAM:GLPG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €-0.77
ENXTAM:GLPG Share Price ** ENXTAM (2019-05-21) in EUR €104.6
Europe Biotechs Industry PE Ratio Median Figure of 29 Publicly-Listed Biotechs Companies 20.93x
Netherlands Market PE Ratio Median Figure of 80 Publicly-Listed Companies 17x

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

** Primary Listing of Galapagos.

ENXTAM:GLPG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTAM:GLPG Share Price ÷ EPS (both in EUR)

= 104.6 ÷ -0.77

-136.33x

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

  • Galapagos is loss making, we can't compare its value to the Europe Biotechs industry average.
  • Galapagos is loss making, we can't compare the value of its earnings to the Netherlands market.
Price based on expected Growth
Does Galapagos's expected growth come at a high price?
Raw Data
ENXTAM:GLPG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -136.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
34.7%per year
Europe Biotechs Industry PEG Ratio Median Figure of 23 Publicly-Listed Biotechs Companies 1.22x
Netherlands Market PEG Ratio Median Figure of 66 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Galapagos, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Galapagos's assets?
Raw Data
ENXTAM:GLPG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €21.53
ENXTAM:GLPG Share Price * ENXTAM (2019-05-21) in EUR €104.6
Netherlands Biotechs Industry PB Ratio Median Figure of 5 Publicly-Listed Biotechs Companies 4.97x
Netherlands Market PB Ratio Median Figure of 103 Publicly-Listed Companies 1.94x
ENXTAM:GLPG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:GLPG Share Price ÷ Book Value per Share (both in EUR)

= 104.6 ÷ 21.53

4.86x

* Primary Listing of Galapagos.

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

  • Galapagos is good value based on assets compared to the NL Biotechs industry average.
X
Value checks
We assess Galapagos'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 Biotechs 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 Biotechs industry average (and greater than 0)? (1 check)
  5. Galapagos 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.

GLPG Future Performance

 How is Galapagos expected to perform in the next 1 to 3 years based on estimates from 16 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
34.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Galapagos expected to grow at an attractive rate?
  • Galapagos's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
  • Galapagos's earnings growth is expected to exceed the Netherlands market average.
  • Galapagos's revenue growth is expected to exceed the Netherlands market average.
Annual Growth Rates Comparison
Raw Data
ENXTAM:GLPG Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTAM:GLPG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 34.7%
ENXTAM:GLPG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 32.3%
Europe Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 20%
Europe Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 14.1%
Netherlands Market Earnings Growth Rate Market Cap Weighted Average 9.3%
Netherlands Market Revenue Growth Rate Market Cap Weighted Average 2.8%

*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
ENXTAM:GLPG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTAM:GLPG Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 688 351 5 8
2022-12-31 542 208 -97 8
2021-12-31 302 -189 -275 11
2020-12-31 219 -217 -281 16
2019-12-31 185 -333 -233 15
ENXTAM:GLPG Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 314 -174 -41
2018-12-31 318 -142 -29
2018-09-30 255 -156 -74
2018-06-30 185 -187 -126
2018-03-31 161 -164 -139
2017-12-31 156 -147 -116
2017-09-30 193 -51 -40
2017-06-30 176 -42 -27
2017-03-31 177 -35 4
2016-12-31 152 239 54
2016-09-30 78 180 -49
2016-06-30 72 178 -52

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Galapagos's earnings are expected to grow significantly at over 20% yearly.
  • Galapagos's revenue is expected to grow significantly at over 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
ENXTAM:GLPG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below

All data from Galapagos Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTAM:GLPG Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 -1.10 -0.90 -1.30 2.00
2022-12-31 -0.69 -0.40 -0.97 2.00
2021-12-31 -4.36 -3.98 -4.85 4.00
2020-12-31 -4.31 -4.00 -4.54 4.00
2019-12-31 -4.09 -3.33 -4.85 5.00
ENXTAM:GLPG Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 -0.77
2018-12-31 -0.56
2018-09-30 -1.45
2018-06-30 -2.46
2018-03-31 -2.75
2017-12-31 -2.34
2017-09-30 -0.83
2017-06-30 -0.58
2017-03-31 0.10
2016-12-31 1.18
2016-09-30 -1.11
2016-06-30 -1.23

*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.
  • Unable to establish if Galapagos will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Galapagos'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Galapagos has a total score of 5/6, 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.

GLPG Past Performance

  How has Galapagos 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 Galapagos's growth in the last year to its industry (Biotechs).
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.
  • Galapagos does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Galapagos's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Galapagos's 1-year growth to the Europe Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Galapagos'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 Galapagos Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTAM:GLPG Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 313.93 -40.63 43.63 188.83
2018-12-31 317.85 -29.26 39.78 188.83
2018-09-30 254.64 -74.06 34.37 95.84
2018-06-30 184.76 -125.51 30.41 95.84
2018-03-31 160.89 -139.38 28.17 95.84
2017-12-31 155.92 -115.70 27.22 95.84
2017-09-30 192.93 -39.91 26.43 67.59
2017-06-30 175.88 -27.47 25.85 67.59
2017-03-31 176.66 4.46 25.29 67.59
2016-12-31 151.61 54.01 23.53 67.59
2016-09-30 78.40 -48.94 23.49 48.88
2016-06-30 72.42 -52.00 21.79 48.88
2016-03-31 55.37 -68.23 20.92 48.88
2015-12-31 60.58 -118.41 20.31 48.88
2015-09-30 74.57 -71.70 17.65 34.81
2015-06-30 81.89 -56.87 16.69 34.81
2015-03-31 87.52 -44.22 14.95 34.81
2014-12-31 90.02 -37.30 14.87 34.81
2014-09-30 86.35 -32.84 14.47 13.30
2014-06-30 92.40 -26.28 14.70 26.60
2014-03-31 94.49 -21.55 14.26 26.60
2013-12-31 96.57 -16.81 13.82 26.60
2013-09-30 55.40 -9.88 3.77 35.81
2013-06-30 137.74 0.48 20.20
2013-03-31 145.36 -2.62 23.42
2012-12-31 91.23 -7.44 13.40 22.51
2012-09-30 145.30 -9.69 29.72
2012-06-30 137.61 -13.67 32.80

*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.
  • It is difficult to establish if Galapagos has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Galapagos has efficiently used its assets last year compared to the Europe Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Galapagos improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Galapagos'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 Biotechs 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.
Galapagos has a total score of 0/6, 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.

GLPG Health

 How is Galapagos'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 Galapagos's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Galapagos is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Galapagos's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Galapagos'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 50.4x 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 Galapagos Company Filings, last reported 1 month ago.

ENXTAM:GLPG Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,175.76 24.99 1,222.90
2018-12-31 1,214.25 0.00 1,290.80
2018-09-30 1,188.22 0.00 1,343.67
2018-06-30 885.66 0.00 1,066.77
2018-03-31 899.35 0.00 1,108.19
2017-12-31 1,011.98 0.01 1,151.21
2017-09-30 1,036.93 0.02 1,218.86
2017-06-30 1,069.03 0.04 1,262.06
2017-03-31 748.15 0.05 953.39
2016-12-31 758.70 0.06 973.24
2016-09-30 708.82 0.08 930.81
2016-06-30 729.80 0.09 960.48
2016-03-31 728.55 0.10 978.33
2015-12-31 365.00 0.12 340.31
2015-09-30 418.79 0.13 366.55
2015-06-30 443.46 0.14 397.48
2015-03-31 206.14 0.17 187.71
2014-12-31 206.14 0.17 187.71
2014-09-30
2014-06-30 225.02 0.25 231.53
2014-03-31 225.02 0.25 231.53
2013-12-31 167.14 0.39 138.18
2013-09-30 167.14 0.39 138.18
2013-06-30 168.01 0.53 136.71
2013-03-31 168.01 0.53 136.71
2012-12-31 118.45 0.41 94.37
2012-09-30 118.45 0.41 94.65
2012-06-30 112.34 0.68 122.61
  • Galapagos's level of debt (2.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.1% vs 2.1% today).
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.

  • Galapagos has sufficient cash runway for more than 3 years based on current free cash flow.
  • Galapagos has sufficient cash runway for 2.9 years if free cash flow continues to grow at historical rates of 100.9% each year.
X
Financial health checks
We assess Galapagos'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. Galapagos 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.

GLPG Dividends

 What is Galapagos'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%
Current annual income from Galapagos dividends. Estimated to be 0% next year.
If you bought €2,000 of Galapagos shares you are expected to receive €0 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?
  • Unable to evaluate Galapagos's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Galapagos's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
ENXTAM:GLPG 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 16 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.8%
Netherlands Market Average Dividend Yield Market Cap Weighted Average of 68 Stocks 4%
Netherlands Minimum Threshold Dividend Yield 10th Percentile 1.7%
Netherlands Bottom 25% Dividend Yield 25th Percentile 2.4%
Netherlands Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

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

ENXTAM:GLPG Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31 0.00 1.00
2021-12-31 0.00 4.00
2020-12-31 0.00 5.00
2019-12-31 0.00 5.00

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

  • Unable to perform a dividend volatility check as Galapagos has not reported any payouts.
  • Unable to verify if Galapagos's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Galapagos's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Galapagos has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Galapagos's dividends in 3 years as they are not expected to pay a notable one for Netherlands.
X
Income/ dividend checks
We assess Galapagos's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - 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 Galapagos afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Galapagos has a total score of 0/6, see the detailed checks below.


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

GLPG Management

 What is the CEO of Galapagos'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
Onno van de Stolpe
COMPENSATION €1,261,570
AGE 59
TENURE AS CEO 20.3 years
CEO Bio

Mr. Onno van de Stolpe co-founded Galapagos NV in 1999 and has been Chief Executive Officer and Managing Director since 1999. Mr. van de Stolpe served as the Managing Director Genomics at IntroGene BV. He joined IntroGene in 1998. He served as the Managing Director of Molecular Probes Europe bv. He established this European headquarters of Molecular Probes, Inc. in 1995. He joined the Eugene-based organization in the USA in 1994. He worked for the Netherlands Foreign Investment Agency in California, where he was responsible for recruiting biotech and medical device companies to locate in the Netherlands. He started his career as a Manager Business Development at MOGEN NV in Leiden. He serves as an Executive Director of Galapagos NV. Mr. van de Stolpe serves as a Member of Supervisory Board at DCPrime B.V. Mr. van de Stolpe received MSc degree from the Agricultural University in Wageningen.

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

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

5.1
Average Tenure
54
Average Age
  • The average tenure for the Galapagos management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Onno van de Stolpe

TITLE
Co-Founder
COMPENSATION
€1M
AGE
59
TENURE
20.3 yrs

Bart Filius

TITLE
CFO & COO
AGE
48
TENURE
4.4 yrs

Piet Wigerinck

TITLE
Chief Scientific Officer
AGE
54
TENURE
7.3 yrs

Elizabeth Goodwin

TITLE
Vice President of Investor Relations & Corporate Communications

Andre Hoekema

TITLE
Chief Business Officer
AGE
61
TENURE
1.7 yrs

John Montana

TITLE
Managing Director of Argenta
TENURE
5.8 yrs

Walid Abi-Saab

TITLE
Chief Medical Officer
AGE
53
TENURE
2.2 yrs

Chantal Tasset

TITLE
Head of Development

Ellen Aar

TITLE
Head of Development

Herman de Kock

TITLE
Head of Development
Board of Directors Tenure

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

7.4
Average Tenure
56.5
Average Age
  • The tenure for the Galapagos board of directors is about average.
Board of Directors

Raj Parekh

TITLE
Non-Executive Chairman
COMPENSATION
€91K
AGE
58
TENURE
15.3 yrs

Onno van de Stolpe

TITLE
Co-Founder
COMPENSATION
€1M
AGE
59
TENURE
20.3 yrs

Howard Rowe

TITLE
Independent Non-Executive Director
COMPENSATION
€45K
AGE
49
TENURE
8.7 yrs

Katrine Bosley

TITLE
Independent Non-Executive Director
COMPENSATION
€45K
AGE
50
TENURE
6.2 yrs

Mary Kerr

TITLE
Independent Non-Executive Director
COMPENSATION
€41K
AGE
57
TENURE
2.8 yrs

Peter Guenter

TITLE
Director
AGE
56
TENURE
0.1 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 Galapagos'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. Galapagos 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.

GLPG News

Simply Wall St News

Has Galapagos NV (AMS:GLPG) Got Enough Cash?

Small and large cap stocks are widely popular for a variety of reasons, however, mid-cap companies such as Galapagos NV (AMS:GLPG), with a market cap of €5.7b, often get neglected by retail investors. … Despite this, the two other categories have lagged behind the risk-adjusted returns of commonly ignored mid-cap stocks. … Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look further.

Simply Wall St -

The Galapagos (AMS:GLPG) Share Price Is Up 136% And Shareholders Are Boasting About It

It might seem bad, but the worst that can happen when you buy a stock (without leverage) is that its share price goes to zero. … For instance the Galapagos NV (AMS:GLPG) share price is 136% higher than it was three years ago. … Galapagos isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS).

Simply Wall St -

How Much Of Galapagos NV (AMS:GLPG) Do Insiders Own?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Our analysis of the ownership of the company, below, shows that. … institutions own shares in the company.

Simply Wall St -

Is Galapagos NV's (AMS:GLPG) Liquidity Good Enough?

Mid-caps stocks, like Galapagos NV (AMS:GLPG) with a market capitalization of €4.7b, aren’t the focus of most investors who prefer to direct their investments towards either large-cap or small-cap stocks. … This article will examine GLPG’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look further.

Simply Wall St -

Why Galapagos NV's (AMS:GLPG) CEO Salary Matters To You

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Onno van de Stolpe's Compensation Compare With Similar Sized Companies. … Most shareholders would consider it a positive that Onno van de Stolpe takes less compensation than the CEOs of most similar size companies, leaving more for shareholders.

Simply Wall St -

Galapagos NV (AMS:GLPG): Set To Experience A Decrease In Earnings?

Based on Galapagos NV's (AMS:GLPG) earnings update in March 2018,. … with profits predicted to drop by -19.17% next year … this is still an improvement on its past 5-year earnings growth rate of -22.96%, on average.

Simply Wall St -

Is Galapagos NV's (AMS:GLPG) Liquidity Good Enough?

Let’s take a look at GLPG’s debt concentration and assess their financial liquidity to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis. … See our latest analysis for Galapagos

Simply Wall St -

Should You Be Holding Galapagos NV (AMS:GLPG) Right Now?

A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … With a beta of 1.84, Galapagos is a stock that tends to experience more gains than the market during a growth phase and also a bigger reduction in value compared to the market during a broad downturn. … A market capitalisation of €4.01B puts GLPG in the basket of established companies, which is not a guarantee of low relative risk, though they do tend to experience a lower level of relative risk compared to smaller entities.

Simply Wall St -

Should You Be Concerned About Galapagos NV's (AMS:GLPG) Shareholders?

See our latest analysis for Galapagos ENXTAM:GLPG Ownership_summary Apr 12th 18 Institutional Ownership GLPG's 47.45% institutional ownership seems enough to cause large share price movements in the case of significant share sell-off or acquisitions by institutions, particularly when there is a low level of public shares available on the market to trade. … Public Company Ownership Another important group of owners for potential investors in GLPG are other public companies that hold a stake of 13.20% in GLPG. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

Simply Wall St -

Is Galapagos NV's (AMS:GLPG) Liquidity Good Enough?

This article will examine GLPG’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … Check out our latest analysis for Galapagos Does GLPG generate enough cash through operations? … With this reduction in debt, GLPG's cash and short-term investments stands at €1.15B , ready to deploy into the business.

Simply Wall St -

GLPG Company Info

Description

Galapagos NV, a clinical-stage biotechnology company, discovers, develops, and commercializes various small molecule medicines. The company’s clinical stage programs include filgotinib, which is in Phase III clinical trials for the treatment of rheumatoid arthritis, Crohn’s disease, and ulcerative colitis; Phase II trials for small bowel CD, fistulizing CD, Sjögren’s syndrome, ankylosing spondylitis, psoriatic arthritis, cutaneous lupus erythematosus, lupus membranous nephropathy, and uveitis. Its clinical stage programs also comprise GLPG1690I, an autotaxin inhibitor that is in ISABELA I and II trials for idiopathic pulmonary fibrosis (IPF), and NOVESA Phase II proof of concept trial for systemic sclerosis; and GLPG1205, a GPR84 inhibitor, which is in the PINTA Phase II proof of concept trial for treating IPF. In addition, the company engages in the development of GLPG1972, which is in the ROCCELLA Phase II trial in osteoarthritis patients; MOR106 that is in Phase I and II trials in atopic dermatitis patients; and GLPG3312, a Toledo molecule, which is in Phase I clinical development for various indications. Galapagos NV has collaboration agreement with Gilead Sciences, Inc. for filgotinib; Servier for GLPG1972; Les Laboratoires Servier for GLPG1972; MorphoSys AG and Novartis Pharma AG for MOR106; AbbVie for the discovery, development, and commercialization of potentiator and corrector molecules for the treatment of cystic fibrosis; and Evotec for fibrosis. The company was founded in 1999 and is headquartered in Mechelen, Belgium.

Details
Name: Galapagos NV
GLPG
Exchange: ENXTAM
Founded: 1999
€5,712,707,138
54,614,791
Website: http://www.glpg.com
Address: Galapagos NV
Generaal De Wittelaan L11 A3,
Mechelen,
Antwerp, 2800,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM GLPG Ordinary Shares Euronext Amsterdam NL EUR 06. May 2005
OTCPK GLPG.F Ordinary Shares Pink Sheets LLC US USD 06. May 2005
DB GXE Ordinary Shares Deutsche Boerse AG DE EUR 06. May 2005
LSE 0JXZ Ordinary Shares London Stock Exchange GB EUR 06. May 2005
WBAG GLPG Ordinary Shares Wiener Boerse AG AT EUR 06. May 2005
BATS-CHIXE GLPGA Ordinary Shares BATS 'Chi-X Europe' GB EUR 06. May 2005
NasdaqGS GLPG SPON ADR Nasdaq Global Select US USD 02. May 2008
DB GXEA SPON ADR Deutsche Boerse AG DE EUR 02. May 2008
Number of employees
Current staff
Staff numbers
779
Galapagos employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 21:05
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/04/26
Last earnings reported: 2019/03/31
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.