OM:INDEX

Stock Analysis Report

InDex Pharmaceuticals Holding

Executive Summary

InDex Pharmaceuticals Holding AB (publ) develops pharmaceuticals for patients with ulcerative colitis.

Snowflake

Fundamentals

Adequate balance sheet with weak fundamentals.

Share Price & News

How has InDex Pharmaceuticals Holding's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

10.0%

INDEX

0.7%

SE Pharmaceuticals

2.9%

SE Market


1 Year Return

-1.2%

INDEX

-5.3%

SE Pharmaceuticals

9.0%

SE Market

Return vs Industry: INDEX exceeded the Swedish Pharmaceuticals industry which returned -5.3% over the past year.

Return vs Market: INDEX underperformed the Swedish Market which returned 9% over the past year.


Share holder returns

INDEXIndustryMarket
7 Day10.0%0.7%2.9%
30 Day-3.1%-0.8%-0.4%
90 Day-23.9%-9.7%0.3%
1 Year-1.2%-1.2%-3.4%-5.3%13.7%9.0%
3 Year-0.4%-0.4%8.2%2.4%30.5%11.1%
5 Yearn/a2.7%-8.0%66.0%30.7%

Price Volatility Vs. Market

How volatile is InDex Pharmaceuticals Holding's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is InDex Pharmaceuticals Holding undervalued based on future cash flows and its price relative to the stock market?

18.77x

Price to Book (PB) ratio


Intrinsic Value Based on Future Cash Flows

Undervalued: Insufficient data to calculate INDEX's fair value to establish if it is undervalued.

Significantly Undervalued: Insufficient data to calculate INDEX's fair value to establish if it is undervalued.


Price Based on Earnings

PE vs Industry: INDEX is unprofitable, so we can't compare its PE Ratio to the Pharmaceuticals industry average.

PE vs Market: INDEX is unprofitable, so we can't compare its PE Ratio to the Swedish market.


Price Based on Expected Growth

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


Price Based on Value of Assets

PB vs Industry: INDEX is overvalued based on its PB Ratio (18.8x) compared to the SE Pharmaceuticals industry average (3.8x).


Next Steps

Future Growth

How is InDex Pharmaceuticals Holding expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

-32.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: INDEX is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: INDEX is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: INDEX is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: INDEX is forecast to have no revenue next year.

High Growth Revenue: INDEX is forecast to have no revenue next year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: Insufficient data to determine if INDEX's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has InDex Pharmaceuticals Holding performed over the past 5 years?

-29.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: INDEX is unprofitable, and losses have increased over the past 5 years at a rate of -29.7% per year.

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

Earnings vs Industry: INDEX is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (5.7%).


Return on Equity

High ROE: INDEX has a negative Return on Equity (-289.94%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: INDEX is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: INDEX is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is InDex Pharmaceuticals Holding's financial position?


Financial Position Analysis

Short Term Liabilities: INDEX's short term assets (SEK51.7M) exceeds its short term liabilities (SEK26.7M)

Long Term Liabilities: INDEX has no long term liabilities


Debt to Equity History and Analysis

Debt Level: INDEX is debt free.

Reducing Debt: INDEX has not had any debt for past 5 years.


Balance Sheet

Inventory Level: INDEX has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if INDEX's debt is covered by short term assets.


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: INDEX has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: INDEX has less than a year of cash runway if free cash flow continues to reduce at historical rates of -32.1% each year


Next Steps

Dividend

What is InDex Pharmaceuticals Holding's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.8%markettop25%4.8%industryaverage2.0%forecastin3Yearsn/a

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

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

High Dividend: Unable to evaluate INDEX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if INDEX's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of INDEX's dividend in 3 years as they are not forecast to pay a notable one for the Swedish market.


Next Steps

Management

What is the CEO of InDex Pharmaceuticals Holding's salary, the management and board of directors tenure and is there insider trading?

3.8yrs

Average management tenure


CEO

Peter Zerhouni (47yo)

3.8yrs

Tenure

0

Mr. Peter Zerhouni, M.Sc., BSc has been Chief Executive Officer at InDex Pharmaceuticals Holding AB (publ) since 2016. Mr. Zerhouni has been Chief Executive Officer of InDex Pharmaceuticals AB and InDex Di ...


Management Age and Tenure

3.8yrs

Average Tenure

56yo

Average Age

Experienced Management: INDEX's management team is considered experienced (3.8 years average tenure).


Board Age and Tenure

3.8yrs

Average Tenure

67yo

Average Age

Experienced Board: INDEX's board of directors are considered experienced (3.8 years average tenure).


Insider Trading

Insider Buying: INDEX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buykr318,50010 Oct 19
Uli Hacksell
EntityIndividual
Role
Member of the Board of Directors
Director
Shares50,000
Max Pricekr6.37
Buykr122,00009 Oct 19
Peter Zerhouni
EntityIndividual
Role
Chief Executive Officer
Chief Executive Officer
Shares20,000
Max Pricekr6.10
Buykr35,50026 Sep 19
Peter Zerhouni
EntityIndividual
Role
Chief Executive Officer
Chief Executive Officer
Shares5,000
Max Pricekr7.10
Buykr292,23123 Sep 19
Stig Pedersen
EntityIndividual
Role
Member of the Board of Directors
Director
Shares40,153
Max Pricekr7.39
Buykr101,47023 Sep 19
Wenche Rolfsen
EntityIndividual
Role
Chairman of the Board
Chairman
Shares13,900
Max Pricekr7.30
Buykr302,60220 Sep 19
Lennart Hansson
EntityIndividual
Role
Member of the Board of Directors
Director
Shares42,000
Max Pricekr7.20
Buykr78,60020 May 19
Johan Giléus
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares10,000
Max Pricekr7.86
Buykr185,23401 Mar 19
Stig Pedersen
EntityIndividual
Role
Member of the Board of Directors
Director
Shares23,809
Max Pricekr7.78

Ownership Breakdown


Management Team

  • Per-Olof Gunnesson (74yo)

    Consultant

    • Tenure: 2.4yrs
  • Peter Zerhouni (47yo)

    Chief Executive Officer

    • Tenure: 3.8yrs
  • Pernilla Sandwall (56yo)

    Chief Operating Officer

    • Tenure: 7.7yrs
  • Thomas Knittel (57yo)

    Chief Medical Officer

    • Tenure: 7.8yrs
  • Johan Giléus (54yo)

    Chief Financial Officer

    • Tenure: 2.4yrs

Board Members

  • Lennart Hansson (63yo)

    Director

    • Tenure: 3.8yrs
    • Compensation: kr200.00k
  • Hans Wigzell (81yo)

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Uli Hacksell (69yo)

    Director

    • Tenure: 3.8yrs
    • Compensation: kr200.00k
  • Stig Pedersen (58yo)

    Director

    • Tenure: 3.8yrs
    • Compensation: kr200.00k
  • Christopher Hawkey

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Wenche Rolfsen (67yo)

    Chairman

    • Tenure: 3.8yrs
    • Compensation: kr400.00k
  • Gunther Hartmann

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Markus Neurath

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Robert Löfberg

    Member of Scientific Advisory Board

    • Tenure: 0yrs

Company Information

InDex Pharmaceuticals Holding AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: InDex Pharmaceuticals Holding AB (publ)
  • Ticker: INDEX
  • Exchange: OM
  • Founded:
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: kr562.906m
  • Shares outstanding: 82.54m
  • Website: https://www.indexpharma.com

Number of Employees


Location

  • InDex Pharmaceuticals Holding AB (publ)
  • Tomtebodavägen 23a
  • Stockholm
  • Stockholm County
  • 171 77
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
INDEXOM (OMX Nordic Exchange Stockholm)YesClass B SharesSESEKOct 2016

Biography

InDex Pharmaceuticals Holding AB (publ) develops pharmaceuticals for patients with ulcerative colitis. The company’s lead drug is Cobitolimod, which is in late stage clinical development for moderate to se ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 21:34
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.

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