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BIOTON

WSE:BIO
Snowflake Description

Adequate balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BIO
WSE
PLN363M
Market Cap
  1. Home
  2. PL
  3. Pharmaceuticals & Biotech
Company description

BIOTON S.A., a biotechnological company, develops, manufactures, markets, and sells medicines, pharmaceutical preparations, pharmaceutical substances, and other pharmaceutical products in Poland and internationally. The last earnings update was 26 days ago. More info.


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BIO Share Price and Events
7 Day Returns
-5.9%
WSE:BIO
0.4%
PL Biotechs
0.3%
PL Market
1 Year Returns
-29%
WSE:BIO
-21.2%
PL Biotechs
-6.1%
PL Market
BIO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BIOTON (BIO) -5.9% -8.3% -14.9% -29% -58.3% -14.2%
PL Biotechs 0.4% -5.7% -4.8% -21.2% -27.5% 10.1%
PL Market 0.3% -6.4% -6.9% -6.1% 7.5% -10.5%
1 Year Return vs Industry and Market
  • BIO underperformed the Biotechs industry which returned -21.2% over the past year.
  • BIO underperformed the Market in Poland which returned -6.1% over the past year.
Price Volatility
BIO
Industry
5yr Volatility vs Market

BIO Value

 Is BIOTON 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 BIOTON 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 BIOTON.

WSE:BIO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 13.5%
Perpetual Growth Rate 10-Year PL Government Bond Rate 2.9%

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 WSE:BIO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.38
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.384 (1 + (1- 19%) (30.74%))
1.488
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.49
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.488 * 7.14%)
13.48%

Discounted Cash Flow Calculation for WSE:BIO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BIOTON 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.

WSE:BIO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 13.48%)
2019 5.38 Est @ 21.65% 4.74
2020 6.24 Est @ 16.01% 4.85
2021 6.99 Est @ 12.06% 4.79
2022 7.64 Est @ 9.3% 4.61
2023 8.21 Est @ 7.36% 4.36
2024 8.70 Est @ 6.01% 4.07
2025 9.14 Est @ 5.06% 3.77
2026 9.54 Est @ 4.4% 3.47
2027 9.92 Est @ 3.93% 3.18
2028 10.27 Est @ 3.61% 2.90
Present value of next 10 years cash flows PLN40.74
WSE:BIO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN10.27 × (1 + 2.85%) ÷ (13.48% – 2.85%)
PLN99.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN99.43 ÷ (1 + 13.48%)10
PLN28.08
WSE:BIO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN40.74 + PLN28.08
PLN68.82
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN68.82 / 85.86
PLN0.8
WSE:BIO Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN0.80
Current discount Discount to share price of PLN4.23
= -1 x (PLN4.23 - PLN0.80) / PLN0.80
-427.8%

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

  • The current share price of BIOTON 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 BIOTON's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BIOTON's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:BIO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN0.31
WSE:BIO Share Price ** WSE (2019-05-24) in PLN PLN4.23
Europe Biotechs Industry PE Ratio Median Figure of 29 Publicly-Listed Biotechs Companies 21.82x
Poland Market PE Ratio Median Figure of 464 Publicly-Listed Companies 10.61x

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

** Primary Listing of BIOTON.

WSE:BIO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= WSE:BIO Share Price ÷ EPS (both in PLN)

= 4.23 ÷ 0.31

13.83x

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

  • BIOTON is good value based on earnings compared to the Europe Biotechs industry average.
  • BIOTON is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does BIOTON's expected growth come at a high price?
Raw Data
WSE:BIO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Biotechs Industry PEG Ratio Median Figure of 23 Publicly-Listed Biotechs Companies 1.3x
Poland Market PEG Ratio Median Figure of 112 Publicly-Listed Companies 0.99x

*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 BIOTON, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on BIOTON's assets?
Raw Data
WSE:BIO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN8.30
WSE:BIO Share Price * WSE (2019-05-24) in PLN PLN4.23
Poland Biotechs Industry PB Ratio Median Figure of 9 Publicly-Listed Biotechs Companies 1.96x
Poland Market PB Ratio Median Figure of 689 Publicly-Listed Companies 0.97x
WSE:BIO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WSE:BIO Share Price ÷ Book Value per Share (both in PLN)

= 4.23 ÷ 8.30

0.51x

* Primary Listing of BIOTON.

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

  • BIOTON is good value based on assets compared to the PL Biotechs industry average.
X
Value checks
We assess BIOTON'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. BIOTON has a total score of 2/6, 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.

BIO Future Performance

 How is BIOTON expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as BIOTON has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
20.1%
Expected Biotechs industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BIOTON expected to grow at an attractive rate?
  • Unable to compare BIOTON's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare BIOTON's earnings growth to the Poland market average as no estimate data is available.
  • Unable to compare BIOTON's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:BIO Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 20.1%
Europe Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 14.4%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.4%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*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
WSE:BIO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:BIO Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 241 28 26
2018-09-30 316 31 72
2018-06-30 360 59 73
2018-03-31 361 47 -2
2017-12-31 362 2 -27
2017-09-30 303 3 -31
2017-06-30 286 -14 -31
2017-03-31 279 9 -28
2016-12-31 278 23 -16
2016-09-30 251 33 -536
2016-06-30 289 39 -526
2016-03-31 308 15 -522

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if BIOTON is high growth as no earnings estimate data is available.
  • Unable to determine if BIOTON is high growth as no revenue estimate data is available.
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
WSE:BIO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from BIOTON Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:BIO Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 0.31
2018-09-30 0.83
2018-06-30 0.84
2018-03-31 -0.02
2017-12-31 -0.32
2017-09-30 -0.36
2017-06-30 -0.37
2017-03-31 -0.33
2016-12-31 -0.19
2016-09-30 -6.24
2016-06-30 -6.13
2016-03-31 -6.08

*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 BIOTON will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine BIOTON's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. BIOTON's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Pharmaceuticals & Biotech companies here
  3. BIOTON's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess BIOTON'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.
BIOTON has a total score of 0/6, 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.

BIO Past Performance

  How has BIOTON 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 BIOTON'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.
  • BIOTON's year on year earnings growth rate has been positive over the past 5 years.
  • BIOTON has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • BIOTON has become profitable in the last year making it difficult to compare the Europe Biotechs industry average.
Earnings and Revenue History
BIOTON'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 BIOTON Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:BIO Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 241.17 26.27 133.77 32.98
2018-09-30 316.05 71.64 145.37 7.78
2018-06-30 359.59 72.51 160.85 8.94
2018-03-31 361.06 -1.55 156.95 9.30
2017-12-31 361.65 -27.40 157.36 24.74
2017-09-30 303.18 -31.03 151.71 8.27
2017-06-30 286.41 -31.38 148.61 7.68
2017-03-31 279.10 -28.32 149.78 7.28
2016-12-31 277.61 -16.12 146.42 7.59
2016-09-30 251.31 -535.91 142.55 6.91
2016-06-30 288.83 -526.14 139.83 5.61
2016-03-31 308.06 -522.23 137.63 4.69
2015-12-31 332.56 -521.85 136.46 3.58
2015-09-30 417.01 13.82 142.23 3.06
2015-06-30 411.15 9.68 141.58 3.15
2015-03-31 393.36 18.67 138.31 3.47
2014-12-31 377.30 13.43 136.58 3.80
2014-09-30 355.93 4.21 131.43 4.05
2014-06-30 330.50 4.30 125.69 4.35
2014-03-31 330.28 -2.57 124.96 4.04
2013-12-31 340.36 0.33 125.20 3.96
2013-09-30 336.53 -10.41 125.83 4.31
2013-06-30 342.16 -27.70 130.00 3.99
2013-03-31 331.47 -28.47 140.11 5.23
2012-12-31 406.30 24.79 144.80 6.18
2012-09-30 390.11 16.33 152.62 6.68
2012-06-30 384.79 42.62 154.15 7.76

*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.
  • BIOTON has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BIOTON used its assets less efficiently than the Europe Biotechs industry average last year based on Return on Assets.
  • It is difficult to establish if BIOTON 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 BIOTON'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.
BIOTON has a total score of 1/6, 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.

BIO Health

 How is BIOTON'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 BIOTON's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BIOTON's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • BIOTON's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of BIOTON'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x 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 BIOTON Company Filings, last reported 4 months ago.

WSE:BIO Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 712.79 111.64 7.75
2018-09-30 806.60 136.43 17.90
2018-06-30 808.61 184.03 4.90
2018-03-31 772.63 184.14 31.04
2017-12-31 734.51 198.26 38.69
2017-09-30 773.22 201.38 42.56
2017-06-30 776.66 203.48 46.90
2017-03-31 795.98 204.82 51.36
2016-12-31 813.83 229.24 88.59
2016-09-30 819.52 214.48 40.45
2016-06-30 831.11 204.38 45.74
2016-03-31 798.43 216.04 24.92
2015-12-31 806.64 226.28 32.54
2015-09-30 1,480.64 209.99 34.65
2015-06-30 1,467.40 203.04 39.47
2015-03-31 1,470.98 189.57 35.37
2014-12-31 1,445.58 201.32 34.48
2014-09-30 1,421.24 207.73 33.72
2014-06-30 1,391.18 208.50 34.29
2014-03-31 1,388.91 235.20 38.87
2013-12-31 1,385.11 226.64 28.59
2013-09-30 1,407.25 234.08 25.95
2013-06-30 1,365.75 234.40 36.92
2013-03-31 1,361.98 229.50 37.17
2012-12-31 1,336.63 226.59 42.09
2012-09-30 1,389.42 254.37 101.11
2012-06-30 1,434.66 231.50 32.95
  • BIOTON's level of debt (15.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (16.4% vs 15.7% today).
  • Debt is well covered by operating cash flow (25%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on BIOTON's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess BIOTON'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. BIOTON has a total score of 4/6, 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.

BIO Dividends

 What is BIOTON'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 BIOTON dividends.
If you bought PLN2,000 of BIOTON shares you are expected to receive PLN0 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 BIOTON's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate BIOTON'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
WSE:BIO 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 0 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.8%
Poland Market Average Dividend Yield Market Cap Weighted Average of 201 Stocks 4.2%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.4%
Poland Bottom 25% Dividend Yield 25th Percentile 2.9%
Poland Top 25% Dividend Yield 75th Percentile 7.7%

Industry and Market average data is calculated daily.

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

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

  • Unable to perform a dividend volatility check as BIOTON has not reported any payouts.
  • Unable to verify if BIOTON's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of BIOTON's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as BIOTON has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess BIOTON's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - 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 BIOTON afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BIOTON 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.

BIO Management

 What is the CEO of BIOTON'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
Robert Neymann
TENURE AS CEO 1.8 years
CEO Bio

Mr. Robert Neymann has been President of the Management Board at BIOTON S.A. since July 4, 2017. Mr. Neymann served as the President of the Management Board at Harper Hygienics S.A., since 2007 until May 19, 2017. Mr. Neymann joined Harper Hygienics in 2007. Mr. Neymann has extensive experience in the FMCG sector. From 2005 to 2007 he was President of the Management Board of Polsnack Sp. z o.o. He served as President of the Management Board at Harper Hygienics S.A. from 2007 to 2017. Mr. Neymann worked for 10 years (1990 – 2000) at Procter & Gamble, such positions included: National Key Account Manager from 1990 to 1991; Unit Sales Manager (Northern Poland) from 1991 to 1993; Trade Marketing Manager from 1993 to 1994; District Sales Manager (Central and Northern Poland) from 1994 to 1996; as Distributor Operations Manager C&EE from 1996 to 1999; Laundry Additives Customer Business Development Manager Western Europe from 1999 to 2000. He served as at OMC Poll Ltd. as a financial comptroller at the Controlling Department from 1987 to 1990; Sales Manager for the Blendax product line in Poland. He served at Herbapol Lublin S.A. as Vice President of the Management Board for Commercial Affairs from 2001 to 2005. Mr. Neymann studied in Finance at the Warsaw School of Economics in 1987.

CEO Compensation
  • Insufficient data for Robert to compare compensation growth.
  • Insufficient data for Robert to establish whether their remuneration is reasonable compared to companies of similar size in Poland.
Management Team Tenure

Average tenure of the BIOTON management team in years:

3.3
Average Tenure
  • The tenure for the BIOTON management team is about average.
Management Team

Adam Polonek

TITLE
CFO & Member of Management Board
COMPENSATION
PLN1M
AGE
42
TENURE
7.4 yrs

Robert Neymann

TITLE
President of Management Board
TENURE
1.8 yrs

Marek Dziki

TITLE
Member of Management Board
AGE
55
TENURE
3.3 yrs

Ewa Suchecka

TITLE
Chief Accountant
Board of Directors Tenure

Average tenure of the BIOTON board of directors in years:

2.9
Average Tenure
  • The average tenure for the BIOTON board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ju Liu

TITLE
Chairman of Supervisory Board
AGE
45
TENURE
3.3 yrs

Dariusz Trzeciak

TITLE
Deputy Chairman of Supervisory Board
COMPENSATION
PLN36K

Vaidyanathan Viswanath

TITLE
Member of Supervisory Board
AGE
56
TENURE
2.9 yrs

Mark Chiang

TITLE
Member of Supervisory Board
TENURE
1.8 yrs

Pawel Borowy

TITLE
Member of Supervisory Board

Qi Bo

TITLE
Member of Supervisory Board

Gary He

TITLE
Member of Supervisory Board
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 (PLN) Value (PLN)
X
Management checks
We assess BIOTON'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. BIOTON 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.

BIO News

Simply Wall St News

What Kind Of Investor Owns Most Of BIOTON S.A. (WSE:BIO)?

Conversely, insiders often decrease their ownership over time. … With a market capitalization of zł420m, BIOTON is a small cap stock, so it might not be well known by many institutional investors. … We can zoom in on the different ownership groups, to learn more about BIO

Simply Wall St -

Do Institutions Own BIOTON SA (WSE:BIO) Shares?

A look at the shareholders of BIOTON SA (WSE:BIO) can tell us which group is most powerful. … BIOTON is not a large company by global standards. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

Who Are The Major Shareholders In BIOTON SA (WSE:BIO)?

In this article, I will take a quick look at BIOTON SA’s (WSE:BIO) recent ownership structure – an unconventional investing subject, but an important one. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … Differences in ownership structure of companies can have a profound effect on how management's incentives are aligned with shareholder returns, and whether they adhere to corporate governance best practices.

Simply Wall St -

What You Must Know About BIOTON SA.'s (WSE:BIO) Major Investors

With this size of ownership, retail investors can collectively play a role in major company policies that affect shareholders returns, including executive remuneration and the appointment of directors. … Private Company Ownership Potential investors in BIO should also look at another important group of investors: private companies, with a stake of 17.04%, who are primarily invested because of strategic and capital gain interests. … Thus, investors should dig deeper into BIO's business relations with these companies and how it can affect shareholder returns in the long-term.Next Steps: With a low level of institutional ownership, investors in BIO need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.

Simply Wall St -

Want To Invest In BIOTON SA. (WSE:BIO)? Here's How It Performed Lately

After looking at BIOTON SA.'s (WSE:BIO) latest earnings announcement (31 December 2017), I found it useful to revisit the company's performance in the past couple of years and assess this against the most recent figures. … Check out our latest analysis for BIOTON How BIO fared against its long-term earnings performance and its industry I like to use data from the most recent 12 months, which annualizes the latest 6-month earnings release, or some times, the latest annual report is already the most recent financial data. … For BIOTON, its most recent trailing-twelve-month earnings is -ZŁ14.54M, which, relative to last year’s level, has become less negative.

Simply Wall St -

BIO Company Info

Description

BIOTON S.A., a biotechnological company, develops, manufactures, markets, and sells medicines, pharmaceutical preparations, pharmaceutical substances, and other pharmaceutical products in Poland and internationally. The company offers recombinant human insulin in pharmaceutical substance form and as preparations for injections; and oral hypoglycemic drugs, including glimepiride and metformin. It also provides FOOT CREAM prodiab that is used for the treatment of dry and atopic skin; HEALTHY EYES prodiab, a dietary supplement for the proper functioning of the eye; Healthy Heart prodiab, a dietary supplement for the proper functioning of the heart and the cardiovascular system; HEALTHY HEART PLUS prodiab a dietary supplement for the proper functioning of the heart and the cardiovascular system; and HEALTHY HEART PLUS prodiab and VITAMINS AND MINERALS prodiab, which are used as dietary supplement for the cardiovascular system. In addition, the company offers an OTC products line focusing on diet supplements, nutritional uses, and cosmetics for patients with metabolic syndrome and diabetes health problems; and BIOTON FOR HEALTH line of natural ingredients. Further, it is involved in the advertising, consulting, and product registration activities, as well as wholesales medicinal products, including biotechnological products. The company is based in Ozarów Mazowiecki, Poland.

Details
Name: BIOTON S.A.
BIO
Exchange: WSE
Founded:
PLN363,205,566
85,864,200
Website: http://www.bioton.pl
Address: BIOTON S.A.
ul. Poznanska 12,
Macierzysz,
Ozarów Mazowiecki,
05-850,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE BIO Common Bearer Shares Warsaw Stock Exchange PL PLN 01. Jul 2005
Number of employees
Current staff
Staff numbers
0
BIOTON employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 20:59
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/04/30
Last earnings reported: 2018/12/31
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.