company background image
PHO

Photocure OB:PHO Stock Report

Last Price

kr103.10

Market Cap

kr2.8b

7D

1.8%

1Y

-25.2%

Updated

26 Jun, 2022

Data

Company Financials +
PHO fundamental analysis
Snowflake Score
Valuation4/6
Future Growth6/6
Past Performance0/6
Financial Health5/6
Dividends0/6

PHO Stock Overview

Photocure ASA, a specialty pharmaceutical company, engages in the research, development, production, distribution, marketing, and sale of pharmaceutical products in Nordic countries, Germany, France, Austria, the United Kingdom, the Netherlands, Italy, other European Countries, and the United States.

Rewards

Trading at 76.1% below our estimate of its fair value

Earnings are forecast to grow 105.32% per year

Risk Analysis

No risks detected for PHO from our risk checks.

Photocure Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Photocure
Historical stock prices
Current Share Pricekr103.10
52 Week Highkr145.00
52 Week Lowkr84.80
Beta0.86
1 Month Change-5.41%
3 Month Change-10.35%
1 Year Change-25.18%
3 Year Change140.05%
5 Year Change293.51%
Change since IPO-45.16%

Recent News & Updates

Shareholder Returns

PHONO PharmaceuticalsNO Market
7D1.8%4.5%-3.4%
1Y-25.2%10.8%3.2%

Return vs Industry: PHO underperformed the Norwegian Pharmaceuticals industry which returned 10.8% over the past year.

Return vs Market: PHO underperformed the Norwegian Market which returned 3.2% over the past year.

Price Volatility

Is PHO's price volatile compared to industry and market?
PHO volatility
PHO Average Weekly Movement5.6%
Pharmaceuticals Industry Average Movement5.5%
Market Average Movement7.2%
10% most volatile stocks in NO Market12.8%
10% least volatile stocks in NO Market3.9%

Stable Share Price: PHO is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PHO's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
199398Dan Schneiderhttps://www.photocure.com

Photocure ASA, a specialty pharmaceutical company, engages in the research, development, production, distribution, marketing, and sale of pharmaceutical products in Nordic countries, Germany, France, Austria, the United Kingdom, the Netherlands, Italy, other European Countries, and the United States. The company offers Hexvix/Cysview for the detection and management of bladder cancer. It also develops Cevira for the treatment of human papilloma virus infection and precancerous lesions of the cervix.

Photocure Fundamentals Summary

How do Photocure's earnings and revenue compare to its market cap?
PHO fundamental statistics
Market Capkr2.79b
Earnings (TTM)-kr68.05m
Revenue (TTM)kr353.97m

7.9x

P/S Ratio

-41.1x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PHO income statement (TTM)
Revenuekr353.97m
Cost of Revenuekr25.01m
Gross Profitkr328.95m
Other Expenseskr397.00m
Earnings-kr68.05m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 10, 2022

Earnings per share (EPS)-2.51
Gross Margin92.93%
Net Profit Margin-19.22%
Debt/Equity Ratio1.3%

How did PHO perform over the long term?

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

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales 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 PHO?

Other financial metrics that can be useful for relative valuation.

PHO 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/Revenue7.2x
Enterprise Value/EBITDA-118.6x
PEG Ration/a

Price to Sales Ratio vs Peers

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

PHO PS Ratio vs Peers
The above table shows the PS ratio for PHO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average20.7x

Price-To-Sales vs Peers: PHO is good value based on its Price-To-Sales Ratio (7.9x) compared to the peer average (20.7x).


Price to Earnings Ratio vs Industry

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

Price-To-Sales vs Industry: PHO is expensive based on its Price-To-Sales Ratio (7.9x) compared to the European Pharmaceuticals industry average (4.8x)


Price to Sales Ratio vs Fair Ratio

What is PHO'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.

PHO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio7.9x
Fair PS Ratio13.5x

Price-To-Sales vs Fair Ratio: PHO is good value based on its Price-To-Sales Ratio (7.9x) compared to the estimated Fair Price-To-Sales Ratio (13.5x).


Share Price vs Fair Value

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

Below Fair Value: PHO (NOK103.1) is trading below our estimate of fair value (NOK430.69)

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


Price to Earnings Growth Ratio

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


Discover undervalued companies

Future Growth

How is Photocure forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

6/6

Future Growth Score 6/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


105.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PHO is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.1%).

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

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

Revenue vs Market: PHO's revenue (26.6% per year) is forecast to grow faster than the Norwegian market (0.3% per year).

High Growth Revenue: PHO's revenue (26.6% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PHO's Return on Equity is forecast to be high in 3 years time (24.2%)


Discover growth companies

Past Performance

How has Photocure 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


-0.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PHO is currently unprofitable.

Growing Profit Margin: PHO is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: PHO is unprofitable, and losses have increased over the past 5 years at a rate of 0.8% per year.

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

Earnings vs Industry: PHO is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (17.9%).


Return on Equity

High ROE: PHO has a negative Return on Equity (-14.15%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Photocure'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: PHO's short term assets (NOK362.2M) exceed its short term liabilities (NOK80.3M).

Long Term Liabilities: PHO's short term assets (NOK362.2M) exceed its long term liabilities (NOK176.8M).


Debt to Equity History and Analysis

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

Reducing Debt: Insufficient data to determine if PHO'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: Whilst unprofitable PHO has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: PHO is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 36.1% per year.


Discover healthy companies

Dividend

What is Photocure 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 PHO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

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

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


Earnings Payout to Shareholders

Earnings Coverage: PHO is not paying a notable dividend for the Norwegian market.


Cash Payout to Shareholders

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


Discover strong dividend paying companies

Management

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

3.5yrs

Average management tenure


CEO

Dan Schneider

3.58yrs

Tenure

Mr. Daniel Schneider, also known as Dan, joined Photocure ASA since November 2018 and has been President & CEO of PhotoCure ASA since November 1, 2018. He has been Vice President of Sales at Pernix Sleep,...


Leadership Team

Experienced Management: PHO's management team is considered experienced (3.5 years average tenure).


Board Members

Experienced Board: PHO's board of directors are considered experienced (3.6 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.


Top Shareholders

Company Information

Photocure ASA's employee growth, exchange listings and data sources


Key Information

  • Name: Photocure ASA
  • Ticker: PHO
  • Exchange: OB
  • Founded: 1993
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: kr2.795b
  • Shares outstanding: 27.11m
  • Website: https://www.photocure.com

Number of Employees


Location

  • Photocure ASA
  • Hoffsveien 4
  • Oslo
  • Oslo
  • 275
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
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.