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AFT

AFT Pharmaceuticals NZSE:AFT Stock Report

Last Price

NZ$3.30

Market Cap

NZ$346.1m

7D

-1.8%

1Y

-21.4%

Updated

01 Oct, 2022

Data

Company Financials +
AFT fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance6/6
Financial Health5/6
Dividends0/6

AFT Stock Overview

AFT Pharmaceuticals Limited develops, licenses, distributes, and sells pharmaceutical products in New Zealand, Australia, Asia, and internationally.

AFT Pharmaceuticals Competitors

Price History & Performance

Summary of all time highs, changes and price drops for AFT Pharmaceuticals
Historical stock prices
Current Share PriceNZ$3.30
52 Week HighNZ$5.00
52 Week LowNZ$3.10
Beta0.29
1 Month Change-4.35%
3 Month Change-8.59%
1 Year Change-21.43%
3 Year Change11.49%
5 Year Change32.00%
Change since IPO6.45%

Recent News & Updates

Shareholder Returns

AFTNZ PharmaceuticalsNZ Market
7D-1.8%-3.2%-3.4%
1Y-21.4%-24.0%-19.7%

Return vs Industry: AFT exceeded the NZ Pharmaceuticals industry which returned -24% over the past year.

Return vs Market: AFT underperformed the NZ Market which returned -19.7% over the past year.

Price Volatility

Is AFT's price volatile compared to industry and market?
AFT volatility
AFT Average Weekly Movement4.4%
Pharmaceuticals Industry Average Movement10.6%
Market Average Movement3.9%
10% most volatile stocks in NZ Market7.8%
10% least volatile stocks in NZ Market2.9%

Stable Share Price: AFT is not significantly more volatile than the rest of NZ stocks over the past 3 months, typically moving +/- 4% a week.

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

About the Company

FoundedEmployeesCEOWebsite
199797Hartley Atkinsonhttps://www.aftpharm.com

AFT Pharmaceuticals Limited develops, licenses, distributes, and sells pharmaceutical products in New Zealand, Australia, Asia, and internationally. It offers products for use in the areas of allergy, cold and flu, eyecare, first aid, pain management, gastrointestinal, dermatology, and medicated vitamins. The company was incorporated in 1997 and is headquartered in Auckland, New Zealand.

AFT Pharmaceuticals Fundamentals Summary

How do AFT Pharmaceuticals's earnings and revenue compare to its market cap?
AFT fundamental statistics
Market CapNZ$346.06m
Earnings (TTM)NZ$19.85m
Revenue (TTM)NZ$130.31m

17.4x

P/E Ratio

2.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AFT income statement (TTM)
RevenueNZ$130.31m
Cost of RevenueNZ$68.54m
Gross ProfitNZ$61.78m
Other ExpensesNZ$41.93m
EarningsNZ$19.85m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)0.19
Gross Margin47.40%
Net Profit Margin15.23%
Debt/Equity Ratio65.6%

How did AFT perform over the long term?

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

Valuation

Is AFT 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-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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 AFT?

Other financial metrics that can be useful for relative valuation.

AFT 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/Revenue2.9x
Enterprise Value/EBITDA18.3x
PEG Ratio1.3x

Price to Earnings Ratio vs Peers

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

AFT PE Ratio vs Peers
The above table shows the PE ratio for AFT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average37.2x
ACMELAB ACME Laboratories
10.3xn/a৳20.5b
2348 Dawnrays Pharmaceutical (Holdings)
3.9xn/aHK$1.6b
524558 Neuland Laboratories
26.9x29.2%₹17.5b
A001630 Chong Kun Dang Holdings
107.5xn/a₩246.8b
AFT AFT Pharmaceuticals
17.4x13.0%NZ$346.1m

Price-To-Earnings vs Peers: AFT is good value based on its Price-To-Earnings Ratio (17.4x) compared to the peer average (37.2x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: AFT is good value based on its Price-To-Earnings Ratio (17.4x) compared to the Global Pharmaceuticals industry average (20.4x)


Price to Earnings Ratio vs Fair Ratio

What is AFT'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.

AFT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.4x
Fair PE Ration/a

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


Share Price vs Fair Value

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

Below Fair Value: AFT (NZ$3.3) is trading above our estimate of fair value (NZ$3.09)

Significantly Below Fair Value: AFT is trading above our estimate of fair value.


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 more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is AFT Pharmaceuticals forecast to perform in the next 1 to 3 years based on estimates from 4 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


13.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AFT's forecast earnings growth (13% per year) is above the savings rate (2.1%).

Earnings vs Market: AFT's earnings (13% per year) are forecast to grow faster than the NZ market (5.8% per year).

High Growth Earnings: AFT's earnings are forecast to grow, but not significantly.

Revenue vs Market: AFT's revenue (13.5% per year) is forecast to grow faster than the NZ market (5.6% per year).

High Growth Revenue: AFT's revenue (13.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AFT's Return on Equity is forecast to be high in 3 years time (28.1%)


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Past Performance

How has AFT Pharmaceuticals performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


66.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AFT has high quality earnings.

Growing Profit Margin: AFT's current net profit margins (15.2%) are higher than last year (6.7%).


Past Earnings Growth Analysis

Earnings Trend: AFT has become profitable over the past 5 years, growing earnings by 66.7% per year.

Accelerating Growth: AFT's earnings growth over the past year (161.4%) exceeds its 5-year average (66.7% per year).

Earnings vs Industry: AFT earnings growth over the past year (161.4%) exceeded the Pharmaceuticals industry 8.9%.


Return on Equity

High ROE: AFT's Return on Equity (35%) is considered high.


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Financial Health

How is AFT Pharmaceuticals'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: AFT's short term assets (NZ$77.5M) exceed its short term liabilities (NZ$29.1M).

Long Term Liabilities: AFT's short term assets (NZ$77.5M) exceed its long term liabilities (NZ$36.0M).


Debt to Equity History and Analysis

Debt Level: AFT's net debt to equity ratio (51.6%) is considered high.

Reducing Debt: AFT's debt to equity ratio has reduced from 120.7% to 65.6% over the past 5 years.

Debt Coverage: AFT's debt is well covered by operating cash flow (38%).

Interest Coverage: AFT's interest payments on its debt are well covered by EBIT (8.4x coverage).


Balance Sheet


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Dividend

What is AFT Pharmaceuticals's 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


2.32%

Forecast Dividend Yield

Dividend Yield vs Market

AFT Pharmaceuticals Dividend Yield vs Market
How does AFT Pharmaceuticals dividend yield compare to the market?
SegmentDividend Yield
Company (AFT Pharmaceuticals)n/a
Market Bottom 25% (NZ)2.9%
Market Top 25% (NZ)6.3%
Industry Average (Pharmaceuticals)2.5%
Analyst forecast in 3 Years (AFT Pharmaceuticals)2.3%

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

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

Growing Dividend: Insufficient data to determine if AFT'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 AFT has not reported any payouts.


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Management

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

8.6yrs

Average board tenure


CEO

Hartley Atkinson

25yrs

Tenure

NZ$839,771

Compensation

Dr. Hartley Atkinson, M.Pharm (Dist), PhD, is Co-Founder of AFT Pharmaceuticals Limited in 1997. Dr. Atkinson is Chief Executive Officer of AFT Pharmaceuticals Limited since September 04, 1997 and also ser...


CEO Compensation Analysis

Hartley Atkinson's Compensation vs AFT Pharmaceuticals Earnings
How has Hartley Atkinson's remuneration changed compared to AFT Pharmaceuticals's earnings?
DateTotal Comp.SalaryCompany Earnings
Mar 31 2022NZ$840kNZ$578k

NZ$20m

Dec 31 2021n/an/a

NZ$15m

Sep 30 2021n/an/a

NZ$11m

Jun 30 2021n/an/a

NZ$9m

Mar 31 2021NZ$701kNZ$506k

NZ$8m

Dec 31 2020n/an/a

NZ$5m

Sep 30 2020n/an/a

NZ$3m

Jun 30 2020n/an/a

NZ$7m

Mar 31 2020NZ$592kNZ$443k

NZ$12m

Dec 31 2019n/an/a

NZ$11m

Sep 30 2019n/an/a

NZ$11m

Jun 30 2019n/an/a

NZ$4m

Mar 31 2019NZ$556kNZ$431k

-NZ$3m

Dec 31 2018n/an/a

-NZ$7m

Sep 30 2018n/an/a

-NZ$11m

Jun 30 2018n/an/a

-NZ$12m

Mar 31 2018NZ$514kNZ$429k

-NZ$14m

Dec 31 2017n/an/a

-NZ$14m

Sep 30 2017n/an/a

-NZ$14m

Jun 30 2017n/an/a

-NZ$16m

Mar 31 2017n/an/a

-NZ$18m

Dec 31 2016n/an/a

-NZ$18m

Sep 30 2016n/an/a

-NZ$18m

Jun 30 2016n/an/a

-NZ$16m

Mar 31 2016NZ$543kNZ$416k

-NZ$13m

Compensation vs Market: Hartley's total compensation ($USD475.82K) is below average for companies of similar size in the NZ market ($USD719.78K).

Compensation vs Earnings: Hartley's compensation has been consistent with company performance over the past year.


Board Members

Experienced Board: AFT's board of directors are considered experienced (8.6 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.


Recent Insider Transactions

NZSE:AFT Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
12 Jan 22BuyNZ$66,209Jon LambIndividual15,000NZ$4.44
17 Dec 21BuyNZ$170,814Jon LambIndividual40,670NZ$4.20

Ownership Breakdown

What is the ownership structure of AFT?
Owner TypeNumber of SharesOwnership Percentage
Private Companies3,555,8743.4%
Institutions4,868,7064.6%
General Public22,519,93621.5%
Individual Insiders73,921,74470.5%

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


Top Shareholders

Top 15 shareholders own 78.53% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
69.52%
Hartley Atkinson
72,899,435NZ$240.6m0%no data
4.56%
Accident Compensation Corporation, Asset Management Arm
4,781,084NZ$15.8m9.18%0.37%
3.37%
Apex Group Ltd.
3,529,569NZ$11.6m0%no data
0.21%
Jon Lamb
221,305NZ$730.3k-27.15%no data
0.18%
Joeri Sels
188,325NZ$621.5k0%no data
0.15%
David Flacks
158,764NZ$523.9k-11.19%no data
0.14%
Malcolm Tubby
143,892NZ$474.8k0%no data
0.065%
Andrew Marriott
67,778NZ$223.7k0%no data
0.065%
Karen Atkinson
67,778NZ$223.7k0%no data
0.065%
Hamish Atkinson
67,778NZ$223.7k0%no data
0.054%
John Wilson
56,689NZ$187.1k0%no data
0.048%
Louise Clayton
50,000NZ$165.0k100%no data
0.044%
FCA Corp.
46,000NZ$151.8k0%0.03%
0.04%
Dimensional Fund Advisors LP
41,622NZ$137.4k-0.04%no data
0.025%
Rivers Leigh Limited
26,305NZ$86.8k0%no data

Company Information

AFT Pharmaceuticals Limited's employee growth, exchange listings and data sources


Key Information

  • Name: AFT Pharmaceuticals Limited
  • Ticker: AFT
  • Exchange: NZSE
  • Founded: 1997
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: NZ$346.059m
  • Shares outstanding: 104.87m
  • Website: https://www.aftpharm.com

Number of Employees


Location

  • AFT Pharmaceuticals Limited
  • 129 Hurstmere Road
  • Level 1
  • Auckland
  • 622
  • New Zealand


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AFTNZSE (New Zealand Stock Exchange)YesOrdinary SharesNZNZDDec 2015
AFPASX (Australian Securities Exchange)YesOrdinary SharesAUAUDDec 2015
AFPCHIA (Chi-X Australia)YesOrdinary SharesAUAUDDec 2015

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/01 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/03/31
Annual Earnings2022/03/31


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.