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BioGaia

OM:BIOG B
Snowflake Description

Flawless balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BIOG B
OM
SEK7B
Market Cap
  1. Home
  2. SE
  3. Pharmaceuticals & Biotech
Company description

BioGaia AB (publ) develops, markets, and sells probiotic products with documented health benefits worldwide. The last earnings update was 73 days ago. More info.


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BIOG B Share Price and Events
7 Day Returns
0.7%
OM:BIOG B
1.5%
SE Biotechs
-1%
SE Market
1 Year Returns
-1%
OM:BIOG B
-4.5%
SE Biotechs
4.3%
SE Market
BIOG B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BioGaia (BIOG B) 0.7% -9.1% -9.9% -1% 72.8% 115.2%
SE Biotechs 1.5% 4.7% -1.5% -4.5% 49% 72.6%
SE Market -1% 0.3% -0.2% 4.3% 14.1% 19.6%
1 Year Return vs Industry and Market
  • BIOG B outperformed the Biotechs industry which returned -4.5% over the past year.
  • BIOG B underperformed the Market in Sweden which returned 4.3% over the past year.
Price Volatility
BIOG B
Industry
5yr Volatility vs Market

Value

 Is BioGaia 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 BioGaia 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 BioGaia.

OM:BIOG B Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
Perpetual Growth Rate 10-Year SE 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 OM:BIOG B
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SE Govt Bond Rate 0.4%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.33
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.33 (1 + (1- 22%) (0.33%))
1.223
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.43% + (1.223 * 5.96%)
7.73%

Discounted Cash Flow Calculation for OM:BIOG B using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BioGaia 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.

OM:BIOG B DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SEK, Millions) Source Present Value
Discounted (@ 7.73%)
2020 226.50 Analyst x2 210.26
2021 260.50 Analyst x2 224.48
2022 286.32 Est @ 9.91% 229.03
2023 306.55 Est @ 7.07% 227.64
2024 322.12 Est @ 5.08% 222.04
2025 333.99 Est @ 3.68% 213.71
2026 343.04 Est @ 2.71% 203.76
2027 349.99 Est @ 2.03% 192.99
2028 355.42 Est @ 1.55% 181.92
2029 359.73 Est @ 1.21% 170.93
Present value of next 10 years cash flows SEK2,076.76
OM:BIOG B DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SEK359.73 × (1 + 0.43%) ÷ (7.73% – 0.43%)
SEK4,955.55
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SEK4,955.55 ÷ (1 + 7.73%)10
SEK2,354.64
OM:BIOG B Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SEK2,076.76 + SEK2,354.64
SEK4,431.41
Equity Value per Share
(SEK)
= Total value / Shares Outstanding
= SEK4,431.41 / 17.34
SEK255.61
OM:BIOG B Discount to Share Price
Calculation Result
Value per share (SEK) From above. SEK255.61
Current discount Discount to share price of SEK403.50
= -1 x (SEK403.50 - SEK255.61) / SEK255.61
-57.9%

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

  • The current share price of BioGaia 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 BioGaia's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BioGaia's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OM:BIOG B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SEK SEK11.97
OM:BIOG B Share Price ** OM (2019-07-19) in SEK SEK403.5
Sweden Biotechs Industry PE Ratio Median Figure of 5 Publicly-Listed Biotechs Companies 33.72x
Sweden Market PE Ratio Median Figure of 324 Publicly-Listed Companies 16.04x

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

** Primary Listing of BioGaia.

OM:BIOG B PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OM:BIOG B Share Price ÷ EPS (both in SEK)

= 403.5 ÷ 11.97

33.72x

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

  • BioGaia is good value based on earnings compared to the SE Biotechs industry average.
  • BioGaia is overvalued based on earnings compared to the Sweden market.
Price based on expected Growth
Does BioGaia's expected growth come at a high price?
Raw Data
OM:BIOG B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 33.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
12.7%per year
Europe Biotechs Industry PEG Ratio Median Figure of 21 Publicly-Listed Biotechs Companies 1.21x
Sweden Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

OM:BIOG B PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 33.72x ÷ 12.7%

2.66x

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

  • BioGaia is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on BioGaia's assets?
Raw Data
OM:BIOG B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SEK SEK31.17
OM:BIOG B Share Price * OM (2019-07-19) in SEK SEK403.5
Sweden Biotechs Industry PB Ratio Median Figure of 40 Publicly-Listed Biotechs Companies 4.57x
Sweden Market PB Ratio Median Figure of 573 Publicly-Listed Companies 2.58x
OM:BIOG B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OM:BIOG B Share Price ÷ Book Value per Share (both in SEK)

= 403.5 ÷ 31.17

12.94x

* Primary Listing of BioGaia.

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

  • BioGaia is overvalued based on assets compared to the SE Biotechs industry average.
X
Value checks
We assess BioGaia'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. BioGaia 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.

Future Performance

 How is BioGaia expected to perform in the next 1 to 3 years based on estimates from 2 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
12.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BioGaia expected to grow at an attractive rate?
  • BioGaia's earnings growth is expected to exceed the low risk savings rate of 0.4%.
Growth vs Market Checks
  • BioGaia's earnings growth is expected to exceed the Sweden market average.
  • BioGaia's revenue growth is expected to exceed the Sweden market average.
Annual Growth Rates Comparison
Raw Data
OM:BIOG B Future Growth Rates Data Sources
Data Point Source Value (per year)
OM:BIOG B Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 12.7%
OM:BIOG B Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 12.8%
Sweden Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 13.9%
Sweden Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 25.1%
Sweden Market Earnings Growth Rate Market Cap Weighted Average 7.9%
Sweden Market Revenue Growth Rate Market Cap Weighted Average 4.6%

*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
OM:BIOG B Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in SEK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OM:BIOG B Future Estimates Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,062 279 278 2
2020-12-31 932 243 241 2
2019-12-31 819 225 206 2
OM:BIOG B Past Financials Data
Date (Data in SEK Millions) Revenue Cash Flow Net Income *
2019-03-31 756 176 207
2018-12-31 742 183 215
2018-09-30 702 223 206
2018-06-30 675 192 197
2018-03-31 631 181 181
2017-12-31 615 223 181
2017-09-30 584 201 179
2017-06-30 562 210 172
2017-03-31 542 198 163
2016-12-31 535 148 160
2016-09-30 500 115 138
2016-06-30 480 86 129

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BioGaia's earnings are expected to grow by 12.7% yearly, however this is not considered high growth (20% yearly).
  • BioGaia's revenue is expected to grow by 12.8% yearly, however this is not considered high growth (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
OM:BIOG B Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from BioGaia Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:BIOG B Future Estimates Data
Date (Data in SEK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 16.04 17.60 14.47 2.00
2020-12-31 13.92 15.20 12.63 2.00
2019-12-31 11.89 12.40 11.38 2.00
OM:BIOG B Past Financials Data
Date (Data in SEK Millions) EPS *
2019-03-31 11.97
2018-12-31 12.40
2018-09-30 11.89
2018-06-30 11.36
2018-03-31 10.43
2017-12-31 10.42
2017-09-30 10.34
2017-06-30 9.93
2017-03-31 9.43
2016-12-31 9.21
2016-09-30 7.95
2016-06-30 7.42

*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.
  • BioGaia is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess BioGaia'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 Sweden market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Sweden 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.
BioGaia has a total score of 4/6, 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.

Past Performance

  How has BioGaia 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 BioGaia'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.
  • BioGaia's year on year earnings growth rate has been positive over the past 5 years.
  • BioGaia's 1-year earnings growth exceeds its 5-year average (14.7% vs 10.9%)
  • BioGaia's earnings growth has not exceeded the SE Biotechs industry average in the past year (14.7% vs 39.3%).
Earnings and Revenue History
BioGaia'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 BioGaia Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OM:BIOG B Past Revenue, Cash Flow and Net Income Data
Date (Data in SEK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 756.48 207.43 192.25 107.25
2018-12-31 741.87 214.89 180.76 99.74
2018-09-30 702.35 206.19 173.30 93.66
2018-06-30 675.35 196.89 166.08 85.99
2018-03-31 630.52 180.83 153.34 78.29
2017-12-31 615.00 180.56 149.18 75.70
2017-09-30 583.61 179.19 142.53 70.08
2017-06-30 561.98 172.10 138.72 68.98
2017-03-31 541.98 163.49 131.97 66.99
2016-12-31 534.70 159.63 129.00 63.80
2016-09-30 500.34 137.96 118.44 57.26
2016-06-30 480.27 128.62 114.02 53.24
2016-03-31 478.25 129.61 111.22 51.61
2015-12-31 483.24 137.50 112.21 53.28
2015-09-30 500.22 130.09 115.21 59.50
2015-06-30 473.67 118.91 114.34 58.81
2015-03-31 432.03 97.12 114.53 57.63
2014-12-31 481.80 147.41 107.43 53.87
2014-09-30 450.65 145.82 102.46 45.76
2014-06-30 433.38 144.70 98.10 43.08
2014-03-31 426.35 142.22 93.49 41.86
2013-12-31 315.88 61.72 93.75 40.56
2013-09-30 298.06 60.28 92.40 41.42
2013-06-30 298.70 60.70 92.70 39.38
2013-03-31 289.10 60.87 92.80 37.59
2012-12-31 645.25 326.97 90.78 35.79
2012-09-30 655.25 332.53 88.08 35.10

*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.
  • BioGaia has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • BioGaia used its assets more efficiently than the SE Biotechs industry average last year based on Return on Assets.
  • BioGaia has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess BioGaia'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.
BioGaia has a total score of 5/6, 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.

Health

 How is BioGaia'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 BioGaia's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BioGaia is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BioGaia's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of BioGaia'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.
  • BioGaia has no debt, it does not need to be covered by short term assets.
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 BioGaia Company Filings, last reported 3 months ago.

OM:BIOG B Past Debt and Equity Data
Date (Data in SEK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 543.49 0.00 315.12
2018-12-31 508.12 0.00 289.79
2018-09-30 451.08 0.00 257.49
2018-06-30 427.50 0.00 215.48
2018-03-31 506.41 0.00 347.87
2017-12-31 463.89 0.00 310.86
2017-09-30 418.22 0.00 240.15
2017-06-30 375.66 0.00 202.58
2017-03-31 457.98 0.00 320.62
2016-12-31 415.18 0.00 243.08
2016-09-30 369.43 0.00 201.55
2016-06-30 333.58 0.00 148.21
2016-03-31 380.03 0.00 221.49
2015-12-31 395.83 0.00 226.90
2015-09-30 374.23 0.00 219.80
2015-06-30 353.12 0.00 202.75
2015-03-31 388.50 0.00 249.95
2014-12-31 344.59 0.00 210.68
2014-09-30 325.58 0.00 224.13
2014-06-30 311.05 0.00 239.12
2014-03-31 413.99 0.00 342.69
2013-12-31 316.86 0.00 234.35
2013-09-30 301.26 0.00 243.19
2013-06-30 318.06 0.00 249.56
2013-03-31 473.89 0.00 397.62
2012-12-31 456.79 0.00 375.05
2012-09-30 441.70 0.00 404.07
  • BioGaia has no debt.
  • BioGaia has not taken on any debt in the past 5 years.
  • BioGaia has no debt, it does not need to be covered by operating cash flow.
  • BioGaia has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess BioGaia'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. BioGaia has a total score of 6/6, 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.

Dividends

 What is BioGaia'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
2.48%
Current annual income from BioGaia dividends. Estimated to be 2.78% next year.
If you bought SEK2,000 of BioGaia shares you are expected to receive SEK50 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?
  • BioGaia's pays a higher dividend yield than the bottom 25% of dividend payers in Sweden (1.91%).
  • BioGaia's dividend is below the markets top 25% of dividend payers in Sweden (4.36%).
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
OM:BIOG B 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 2 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 0.8%
Sweden Market Average Dividend Yield Market Cap Weighted Average of 244 Stocks 3.5%
Sweden Minimum Threshold Dividend Yield 10th Percentile 1.2%
Sweden Bottom 25% Dividend Yield 25th Percentile 1.9%
Sweden Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

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

OM:BIOG B Future Dividends Estimate Data
Date (Data in SEK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 12.45 2.00
2020-12-31 11.20 2.00
2019-12-31 9.97 2.00
OM:BIOG B Past Annualized Dividends Data
Date (Data in SEK) Dividend per share (annual) Avg. Yield (%)
2019-04-05 10.000 2.277
2018-03-26 9.000 2.231
2017-04-06 7.500 2.329
2017-02-10 7.500 2.315
2016-04-14 5.000 1.961
2016-02-12 5.000 2.328
2015-04-08 5.000 1.887
2014-05-08 7.000 3.765
2013-04-29 10.000 4.458
2012-05-08 6.000 3.373
2012-03-21 4.000 1.962
2011-05-11 2.000 1.254
2010-05-07 0.900 0.959
2009-04-23 0.400 0.526

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of BioGaia's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess BioGaia's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - 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 BioGaia afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BioGaia has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of BioGaia'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
Isabelle Valerie Ducellier
COMPENSATION SEK3,674,839
AGE 50
CEO Bio

Ms. Isabelle Valerie Ghislaine Ducellier serves as the Chief Executive Officer of BioGaia AB. Ms. Ducellier has been Partner and Consultant at Anian Ab since 2016. Ms. Ducellier has been Visiting Lecturer at INSEEC since 2015. She was a Director of BioGaia AB from April 25, 2018 to November 2018. She served as Chief Executive Officer of Pernod Ricard Sweden from 2008 to 2016. She served as Regional Sales Director of Pernod Ricard from 2004 to 2008. She served as International Marketing Director of Pernod Ricard Poland – Wyborowa SA from 2002 to 2004. She served as Sales and Marketing Director at Pernod Ricard Sweden from 1997 to 2001. She was an Export Area Manager of Pernod Ricard Group from 1993 to 1997. She served as Product Manager of Pernod Ricard Group from 1992 to 1993 and also served as its Area Sales Manager from 1991 to 1992. She has been Chairman of the Swedish section, Comité National des Conseillers du Commerce Extérieur de la France since 2013. She has been Director of Arcus AS since 2016. She has been Advisory Board Member I at Executive Search AB since 2011. She served as a Director of Arcus ASA from August 24, 2016 to December 2016. She served as a Director of Björn Borg AB (publ) from April 17, 2013 to May 19, 2016. Ms. Ducellier earned Master in International Marketing from EM Lyon from 1989 to 1991 and Executive MBA in Leadership & Innovation from INSEAD in 2010. She completed MBA General Management Program at Harvard Business School from 2015 to 2016.

CEO Compensation
  • Insufficient data for Isabelle Valerie to compare compensation growth.
  • Isabelle Valerie's remuneration is lower than average for companies of similar size in Sweden.
Management Team Tenure

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

5.3
Average Tenure
52
Average Age
  • The average tenure for the BioGaia management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Peter Rothschild

TITLE
Founder & Chairman
COMPENSATION
SEK8M
AGE
69
TENURE
29.5 yrs

Isabelle Valerie Ducellier

TITLE
Chief Executive Officer
COMPENSATION
SEK4M
AGE
50

Margareta Hagman

TITLE
Executive Vice President of Accounting
AGE
53
TENURE
9.3 yrs

Katayoun Welin-Berger

TITLE
Vice President of Operations
AGE
51

Marika Isberg

TITLE
VP & General Counsel
AGE
46
TENURE
1.4 yrs

Urban Strindlöv

TITLE
Executive VP & VP of Sales
AGE
55
TENURE
9.5 yrs

Staffan Strömberg

TITLE
Vice President of Development & Regulatory Affairs
AGE
52

Ulrika Köhler

TITLE
Vice President of Marketing & Product Development
AGE
53

Angelika Kjelldorff

TITLE
Vice President of Human Resources
TENURE
0.5 yrs

Sebastian Schröder

TITLE
Executive Vice President of Business Development
AGE
46
TENURE
0.7 yrs
Board of Directors Tenure

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

4.2
Average Tenure
69
Average Age
  • The tenure for the BioGaia board of directors is about average.
Board of Directors

David E. Dangoor

TITLE
Deputy Chairman
COMPENSATION
SEK400K
AGE
70
TENURE
1.3 yrs

Peter Rothschild

TITLE
Founder & Chairman
COMPENSATION
SEK8M
AGE
69
TENURE
1.3 yrs

Inger Holmström

TITLE
Director
COMPENSATION
SEK200K
AGE
71
TENURE
12.5 yrs

Brit Stakston

TITLE
Director
COMPENSATION
SEK200K
AGE
58
TENURE
5.5 yrs

Anthon Jahreskog

TITLE
Director
COMPENSATION
SEK200K
AGE
39
TENURE
4.2 yrs

Ewa Björling

TITLE
Director
COMPENSATION
SEK200K
AGE
58
TENURE
4.2 yrs

Peter Elving

TITLE
Director
COMPENSATION
SEK200K
AGE
71
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • BioGaia individual insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SEK) Value (SEK)
12. Jun 19 Buy Isabelle Valerie Ducellier Individual 10. Jun 19 10. Jun 19 230 SEK433.00 SEK99,590
21. May 19 Sell Margareta Hagman Individual 21. May 19 21. May 19 -3,000 SEK462.00 SEK-1,386,000
21. Mar 19 Buy Kristina Borg Individual 19. Mar 19 19. Mar 19 40 SEK469.48 SEK18,779
01. Mar 19 Buy Peter Rothschild Individual 01. Mar 19 01. Mar 19 200 SEK432.25 SEK86,450
26. Nov 18 Sell Annwall & Rothschild Investments AB Company 23. Nov 18 23. Nov 18 -92,404 SEK344.00 SEK-31,786,976
19. Nov 18 Sell Peter Rothschild Individual 16. Nov 18 16. Nov 18 -4,700 SEK355.71 SEK-1,671,843
X
Management checks
We assess BioGaia'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. BioGaia 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.

News

Simply Wall St News

Does BioGaia AB (publ)'s (STO:BIOG B) July Stock Price Reflect Its Future Growth?

As Warren Buffett’s right-hand man Charlie Munger said, “No matter how wonderful a business is, it’s not worth an infinite price.” BioGaia is available at price-to-earnings ratio of 33.01x, showing us it is overvalued compared to the SE market average ratio of 16.11x , and undervalued based on its latest annual earnings update compared to the Biotechs average of 33.01x. … However, to properly examine the value of a high-growth stock such as BioGaia, we must reflect its earnings growth into the valuation. … A PE ratio of 33.01x and expected year-on-year earnings growth of 13% give BioGaia a quite high PEG ratio of 2.61x.

Simply Wall St -

Should You Be Excited About BioGaia AB (publ)'s (STO:BIOG B) 38% Return On Equity?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for BioGaia: 38% = kr207m ÷ kr543m (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Combining BioGaia's Debt And Its 38% Return On Equity Shareholders will be pleased to learn that BioGaia has not one iota of net debt! … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

Don't Sell BioGaia AB (publ) (STO:BIOG B) Before You Read This

The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for BioGaia: P/E of 35.6 = SEK426 ÷ SEK11.97 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … All else being equal, it's better to pay a low price -- but as Warren Buffett said, 'It's far better to buy a wonderful company at a fair price than a fair company at a wonderful price.' How Growth Rates Impact P/E Ratios Earnings growth rates have a big influence on P/E ratios. … Its net cash position supports a higher P/E ratio, as does its solid recent earnings growth.

Simply Wall St -

Should You Be Tempted To Sell BioGaia AB (publ) (STO:BIOG B) Because Of Its P/E Ratio?

We'll look at BioGaia AB (publ)'s (STO:BIOG B) P/E ratio and reflect on what it tells us about the company's share price. … See our latest analysis for BioGaia How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for BioGaia: P/E of 35.6 = SEK426 ÷ SEK11.97 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

The BioGaia (STO:BIOG B) Share Price Is Up 132% And Shareholders Are Boasting About It

But on a lighter note, a good company can see its share price rise well over 100%. … During five years of share price growth, BioGaia achieved compound earnings per share (EPS) growth of 7.8% per year. … We note that for BioGaia the TSR over the last 5 years was 158%, which is better than the share price return mentioned above.

Simply Wall St -

Does Market Volatility Impact BioGaia AB (publ)'s (STO:BIOG B) Share Price?

Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … View our latest analysis for BioGaia What BIOG B's beta value tells investors Given that it has a beta of 0.90, we can surmise that the BioGaia share price has not been strongly impacted by broader market volatility (over the last 5 years). … What this means for you: One potential advantage of owning low beta stocks like BioGaia is that your overall portfolio won't be too sensitive to overall market movements.

Simply Wall St -

Our Take On BioGaia AB (publ)'s (STO:BIOG B) CEO Salary

Isabelle Valerie Ducellier is the CEO of BioGaia AB (publ) (STO:BIOG B). … View our latest analysis for BioGaia How Does Isabelle Valerie Ducellier's Compensation Compare With Similar Sized Companies? … Most shareholders would consider it a positive that Isabelle Valerie Ducellier takes less total compensation than the CEOs of most similar size companies, leaving more for shareholders.

Simply Wall St -

Does BioGaia (STO:BIOG B) Deserve A Spot On Your Watchlist?

So if you're like me, you might be more interested in profitable, growing companies, like BioGaia (STO:BIOG B). … It makes me feel more secure owning shares in a company if insiders also own shares, thusly more closely aligning our interests. … As a result, I'm encouraged by the fact that insiders own BioGaia shares worth a considerable sum.

Simply Wall St -

Does BioGaia AB (publ) (STO:BIOG B) Have A Place In Your Dividend Portfolio?

OM:BIOG B Historical Dividend Yield, May 10th 2019 Payout ratios Dividends are typically paid from company earnings. … Dividend Growth Potential With a relatively unstable dividend, it's even more important to see if earnings per share (EPS) are growing. Why take the risk of a dividend getting cut, unless there's a good chance of bigger dividends in future? It's good to see BioGaia has been growing its earnings per share at 28% a year over the past 5 years. Earnings per share have rocketed in recent times, and we like that the company is retaining more than half of its earnings to reinvest. However, always remember that very few companies can grow at double digit rates forever. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Next, earnings growth has been good, but unfortunately the dividend has been cut at least once in the past.

Simply Wall St -

Looking At BioGaia AB (publ) (STO:BIOG B) From All Angles

Help shape the future of investing tools and you could win a $250 gift card! … BioGaia AB (publ) (STO:BIOG B) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects.

Simply Wall St -

Company Info

Description

BioGaia AB (publ) develops, markets, and sells probiotic products with documented health benefits worldwide. It operates in Pediatrics, Adult Health, and Other segments. The Pediatrics segment offers drops, oral rehydration solutions, and gut health tablets, as well as cultures that are used as an ingredient in infant formula. The Adult Health segment provides gut health tablets and oral health lozenges products, as well as cultures, which are used as an ingredient in a dairy product. The Other segment provides packaging solutions. The company offers its products in the areas of baby and child care, including infantile colic, infections, functional abdominal pain, diarrhea, functional constipation, and regurgitation; gut health comprising diarrhoea and constipation; gastrointestinal health consisting of Helicobacter pylori–the gastric ulcer bacterium; and oral health, including gingivitis and periodontitis, caries, and halitosis. The company offers its products under the brand name of BioGaia through pharmacies and retail outlets. BioGaia AB (publ) was founded in 1990 and is headquartered in Stockholm, Sweden.

Details
Name: BioGaia AB (publ)
BIOG B
Exchange: OM
Founded: 1990
SEK6,995,262,417
17,336,462
Website: http://www.biogaia.com
Address: BioGaia AB (publ)
Kungsbroplan 3,
Stockholm,
Stockholm County, 112 27,
Sweden
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OM BIOG B Class B Shares OMX Nordic Exchange Stockholm SE SEK 29. May 1998
OTCPK BGAI.F Class B Shares Pink Sheets LLC US USD 29. May 1998
DB BGL Class B Shares Deutsche Boerse AG DE EUR 29. May 1998
LSE 0GTN Class B Shares London Stock Exchange GB SEK 29. May 1998
BATS-CHIXE BIOGBs Class B Shares BATS 'Chi-X Europe' GB SEK 29. May 1998
OTCPK BIOG.Y UNSPONSORED ADR Pink Sheets LLC US USD 04. Apr 2013
Number of employees
Current staff
Staff numbers
144
BioGaia employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/20 20:57
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/05
Last earnings filing: 2019/05/08
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.