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KDEV

Karolinska Development OM:KDEV Stock Report

Last Price

kr1.84

Market Cap

kr496.5m

7D

-1.1%

1Y

-49.7%

Updated

05 Oct, 2022

Data

Company Financials +
KDEV fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance0/6
Financial Health6/6
Dividends0/6

KDEV Stock Overview

Karolinska Development AB (publ) is a venture capital firm specializing in investments in growth capital, seed stage, and early stage companies.

Karolinska Development Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Karolinska Development
Historical stock prices
Current Share Pricekr1.84
52 Week Highkr11.24
52 Week Lowkr1.75
Beta0.23
1 Month Change-26.87%
3 Month Change-31.70%
1 Year Change-49.73%
3 Year Change-44.24%
5 Year Change-64.62%
Change since IPO-95.40%

Recent News & Updates

Shareholder Returns

KDEVSE PharmaceuticalsSE Market
7D-1.1%0.1%1.7%
1Y-49.7%-23.8%-25.4%

Return vs Industry: KDEV underperformed the Swedish Pharmaceuticals industry which returned -23.6% over the past year.

Return vs Market: KDEV underperformed the Swedish Market which returned -24.4% over the past year.

Price Volatility

Is KDEV's price volatile compared to industry and market?
KDEV volatility
KDEV Average Weekly Movement5.8%
Pharmaceuticals Industry Average Movement7.9%
Market Average Movement6.9%
10% most volatile stocks in SE Market11.5%
10% least volatile stocks in SE Market4.4%

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

Volatility Over Time: KDEV's weekly volatility has decreased from 13% to 6% over the past year.

About the Company

FoundedEmployeesCEOWebsite
20037Viktor Drvotahttps://www.karolinskadevelopment.com

Karolinska Development AB (publ) is a venture capital firm specializing in investments in growth capital, seed stage, and early stage companies. It seeks to invest in pharmaceutical research and development, medical research, healthcare technology, gene research and development, drug delivery technologies, biotechnology, and life science tools and service sectors. The firm seeks to invest in the Nordic region with a focus on Sweden, Iceland, Norway, Finland, and Denmark.

Karolinska Development Fundamentals Summary

How do Karolinska Development's earnings and revenue compare to its market cap?
KDEV fundamental statistics
Market Capkr496.49m
Earnings (TTM)-kr72.21m
Revenue (TTM)kr2.18m

228.3x

P/S Ratio

-6.9x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
KDEV income statement (TTM)
Revenuekr2.18m
Cost of Revenuekr0
Gross Profitkr2.18m
Other Expenseskr74.39m
Earnings-kr72.21m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 18, 2022

Earnings per share (EPS)-0.27
Gross Margin100.00%
Net Profit Margin-3,316.95%
Debt/Equity Ratio0%

How did KDEV perform over the long term?

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

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book 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 KDEV?

Other financial metrics that can be useful for relative valuation.

KDEV 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/Revenue102.7x
Enterprise Value/EBITDA-6.7x
PEG Ration/a

Price to Book Ratio vs Peers

How does KDEV's PB Ratio compare to its peers?

KDEV PB Ratio vs Peers
The above table shows the PB ratio for KDEV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average3.2x
ORX Orexo
2.1x69.0%kr634.6m
ENZY Enzymatica
5.1x84.5%kr474.1m
IBT B Infant Bacterial Therapeutics
1.8xn/akr696.0m
KLAR Klaria Pharma Holding AB (publ.)
3.8xn/akr217.6m
KDEV Karolinska Development
0.4xn/akr496.5m

Price-To-Book vs Peers: KDEV is good value based on its Price-To-Book Ratio (0.4x) compared to the peer average (3.2x).


Price to Earnings Ratio vs Industry

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

Price-To-Book vs Industry: KDEV is good value based on its Price-To-Book Ratio (0.4x) compared to the Swedish Pharmaceuticals industry average (1.9x)


Price to Book Ratio vs Fair Ratio

What is KDEV's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

KDEV PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.4x
Fair PB Ration/a

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


Share Price vs Fair Value

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

Below Fair Value: KDEV (SEK1.84) is trading below our estimate of fair value (SEK9.04)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Karolinska Development forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-2.6%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if KDEV's forecast earnings growth is above the savings rate (0.4%).

Earnings vs Market: Insufficient data to determine if KDEV's earnings are forecast to grow faster than the Swedish market

High Growth Earnings: Insufficient data to determine if KDEV's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: KDEV's revenue is expected to decline over the next 3 years (-2.6% per year).

High Growth Revenue: KDEV's revenue is forecast to decline over the next 3 years (-2.6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KDEV is forecast to be unprofitable in 3 years.


Discover growth companies

Past Performance

How has Karolinska Development performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-3.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: KDEV is currently unprofitable.

Growing Profit Margin: KDEV is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: KDEV is unprofitable, and losses have increased over the past 5 years at a rate of 3.2% per year.

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

Earnings vs Industry: KDEV is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (19.1%).


Return on Equity

High ROE: KDEV has a negative Return on Equity (-5.65%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Karolinska Development's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: KDEV's short term assets (SEK276.1M) exceed its short term liabilities (SEK10.3M).

Long Term Liabilities: KDEV has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: KDEV is debt free.

Reducing Debt: KDEV has no debt compared to 5 years ago when its debt to equity ratio was 826.3%.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable KDEV has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: KDEV is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 31% per year.


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Dividend

What is Karolinska Development 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

Dividend Yield vs Market

Karolinska Development Dividend Yield vs Market
How does Karolinska Development dividend yield compare to the market?
SegmentDividend Yield
Company (Karolinska Development)n/a
Market Bottom 25% (SE)1.8%
Market Top 25% (SE)6.1%
Industry Average (Pharmaceuticals)2.9%
Analyst forecast in 3 Years (Karolinska Development)n/a

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

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

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


Discover strong dividend paying companies

Management

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

2.4yrs

Average management tenure


CEO

Viktor Drvota (57 yo)

5.33yrs

Tenure

kr4,950,000

Compensation

Dr. Viktor Drvota, M.D., Ph D., has been an Independent Director of OssDsign AB since 2015. He serves as Chairman of the Board at Modus Therapeutics Holding Ab since 2016.He serves as the Chief Executive...


CEO Compensation Analysis

Viktor Drvota's Compensation vs Karolinska Development Earnings
How has Viktor Drvota's remuneration changed compared to Karolinska Development's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

-kr72m

Mar 31 2022n/an/a

kr166m

Dec 31 2021kr5mkr3m

kr171m

Sep 30 2021n/an/a

kr276m

Jun 30 2021n/an/a

kr108m

Mar 31 2021n/an/a

-kr106m

Dec 31 2020kr5mkr3m

-kr207m

Sep 30 2020n/an/a

kr35m

Jun 30 2020n/an/a

kr190m

Mar 31 2020n/an/a

kr195m

Dec 31 2019kr6mkr3m

kr303m

Sep 30 2019n/an/a

-kr11m

Jun 30 2019n/an/a

kr8m

Mar 31 2019n/an/a

kr32m

Dec 31 2018kr5mkr3m

kr31m

Sep 30 2018n/an/a

kr48m

Jun 30 2018n/an/a

kr238m

Mar 31 2018n/an/a

kr185m

Dec 31 2017kr5mkr1m

kr180m

Compensation vs Market: Viktor's total compensation ($USD449.86K) is above average for companies of similar size in the Swedish market ($USD213.56K).

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


Leadership Team

Experienced Management: KDEV's management team is considered experienced (2.4 years average tenure).


Board Members

Experienced Board: KDEV's board of directors are not considered experienced ( 1.7 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of KDEV?
Owner TypeNumber of SharesOwnership Percentage
Institutions16,809,3506.2%
Private Companies36,929,43713.7%
Individual Insiders54,305,98220.1%
Public Companies75,727,28528.1%
General Public86,061,25531.9%

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 53.8%.


Top Shareholders

Top 25 shareholders own 68.09% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
28.06%
Sino Biopharmaceutical Limited
75,727,285SEK139.3m0%no data
19.65%
Theresa Tse
53,009,099SEK97.5m0%no data
10.38%
Worldwide International Investments Limited
28,007,077SEK51.5m0%no data
1.54%
Karolinska Institutet Holding AB
4,144,487SEK7.6m0%no data
1.44%
Östersjöstiftelsen, Endowment Arm
3,889,166SEK7.2m0%2.69%
1.44%
HSBC Global Asset Management (UK) Limited
3,875,000SEK7.1m0%no data
1.33%
Stiftelsen för Främjande och Utveckling av Medicinsk Forskning vid Karolinska Institutet
3,582,934SEK6.6m0%no data
0.92%
Coastal Investment Management
2,470,541SEK4.5m0%100%
0.72%
Avanza Fonder AB
1,947,824SEK3.6m0%0.01%
0.42%
Skandinaviska Enskilda Banken AB, Private Banking, Investment Banking, and Insurance Arm
1,142,011SEK2.1m0%no data
0.31%
FCG Fonder AB
838,795SEK1.5m0%0.07%
0.29%
Xact Kapitalförvaltning AB
795,531SEK1.5m0%no data
0.28%
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
750,000SEK1.4m0%no data
0.26%
Adis Holding Ab
700,000SEK1.3m0%no data
0.25%
Galostiftelsen, Endowment Arm
668,661SEK1.2m0%100%
0.24%
Qiuyue Zhang
654,000SEK1.2m0%no data
0.18%
Synskadades Riksförbund
494,939SEK910.7k0%no data
0.11%
SEB Investment Management AB
297,318SEK547.1k0%no data
0.059%
Per Aniansson
160,006SEK294.4k0%no data
0.059%
Johan Dighed
160,005SEK294.4k0%no data
0.059%
Viktor Drvota
159,996SEK294.4k0%no data
0.046%
SPP Fonder AB
123,503SEK227.2k0%no data
0.024%
Ben Toogood
64,001SEK117.8k0%no data
0.011%
Elisabet Gimbringer
30,000SEK55.2k0%no data
0.0093%
Yan Cheng
25,004SEK46.0k0%no data

Company Information

Karolinska Development AB (publ)'s employee growth, exchange listings and data sources


Key Information

  • Name: Karolinska Development AB (publ)
  • Ticker: KDEV
  • Exchange: OM
  • Founded: 2003
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Implied Market Cap: kr496.493m
  • Shares outstanding: 269.83m
  • Website: https://www.karolinskadevelopment.com

Number of Employees


Location

  • Karolinska Development AB (publ)
  • Tomtebodavägen 23 A
  • Solna
  • Stockholm County
  • 17165
  • Sweden


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KDEVOM (OMX Nordic Exchange Stockholm)YesB SharesSESEKApr 2011
0P3CLSE (London Stock Exchange)YesB SharesGBSEKApr 2011
2I9DB (Deutsche Boerse AG)YesB SharesDEEURApr 2011
KDEVSBATS-CHIXE (BATS 'Chi-X Europe')YesB SharesGBSEKApr 2011
KDEV.FOTCPK (Pink Sheets LLC)YesB SharesUSUSDApr 2011

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/05 00:00
End of Day Share Price2022/10/05 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.