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PDL BioPharma

Nasdaq:PDLI
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PDLI
Nasdaq
$376M
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

PDL BioPharma, Inc. acquires, manages, and commercializes commercial stage pharmaceutical assets and late clinical stage pharmaceutical products in the United States, Europe, and internationally. The last earnings update was 73 days ago. More info.


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PDLI Share Price and Events
7 Day Returns
0.3%
NasdaqGS:PDLI
-0.2%
US Biotechs
-1.2%
US Market
1 Year Returns
23.6%
NasdaqGS:PDLI
-12.1%
US Biotechs
3.4%
US Market
PDLI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PDL BioPharma (PDLI) 0.3% 5% -10% 23.6% -10.8% -66.9%
US Biotechs -0.2% -2.3% 0.9% -12.1% 6.1% 7.2%
US Market -1.2% 1.2% 1.7% 3.4% 35.5% 41.6%
1 Year Return vs Industry and Market
  • PDLI outperformed the Biotechs industry which returned -12.1% over the past year.
  • PDLI outperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
PDLI
Industry
5yr Volatility vs Market
Related Companies

Value

 Is PDL BioPharma 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 PDL BioPharma 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 PDL BioPharma.

NasdaqGS:PDLI 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 11.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

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 NasdaqGS:PDLI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
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))
= 1.328 (1 + (1- 21%) (34.2%))
1.46
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.46
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.46 * 5.96%)
11.43%

Discounted Cash Flow Calculation for NasdaqGS:PDLI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PDL BioPharma 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.

NasdaqGS:PDLI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.43%)
2020 78.12 Est @ -14.02% 70.10
2021 71.09 Est @ -8.99% 57.25
2022 67.20 Est @ -5.48% 48.56
2023 65.17 Est @ -3.01% 42.27
2024 64.33 Est @ -1.29% 37.44
2025 64.28 Est @ -0.08% 33.57
2026 64.77 Est @ 0.76% 30.36
2027 65.64 Est @ 1.35% 27.61
2028 66.80 Est @ 1.76% 25.21
2029 68.17 Est @ 2.05% 23.09
Present value of next 10 years cash flows $395.47
NasdaqGS:PDLI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $68.17 × (1 + 2.73%) ÷ (11.43% – 2.73%)
$804.70
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $804.70 ÷ (1 + 11.43%)10
$272.58
NasdaqGS:PDLI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $395.47 + $272.58
$668.06
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $668.06 / 119.65
$5.58
NasdaqGS:PDLI Discount to Share Price
Calculation Result
Value per share (USD) From above. $5.58
Current discount Discount to share price of $3.14
= -1 x ($3.14 - $5.58) / $5.58
43.8%

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

Current Discount
Amount off the current price PDL BioPharma is available for.
Intrinsic value
44%
Share price is $3.14 vs Future cash flow value of $5.58
Current Discount Checks
For PDL BioPharma to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PDL BioPharma's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PDL BioPharma's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 PDL BioPharma's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PDL BioPharma's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:PDLI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.46
NasdaqGS:PDLI Share Price ** NasdaqGS (2019-07-19) in USD $3.14
United States of America Biotechs Industry PE Ratio Median Figure of 35 Publicly-Listed Biotechs Companies 19.44x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 17.88x

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

** Primary Listing of PDL BioPharma.

NasdaqGS:PDLI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:PDLI Share Price ÷ EPS (both in USD)

= 3.14 ÷ -0.46

-6.89x

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

  • PDL BioPharma is loss making, we can't compare its value to the US Biotechs industry average.
  • PDL BioPharma is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does PDL BioPharma's expected growth come at a high price?
Raw Data
NasdaqGS:PDLI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -6.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
30%per year
United States of America Biotechs Industry PEG Ratio Median Figure of 26 Publicly-Listed Biotechs Companies 0.79x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*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 PDL BioPharma, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on PDL BioPharma's assets?
Raw Data
NasdaqGS:PDLI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $5.62
NasdaqGS:PDLI Share Price * NasdaqGS (2019-07-19) in USD $3.14
United States of America Biotechs Industry PB Ratio Median Figure of 437 Publicly-Listed Biotechs Companies 2.94x
United States of America Market PB Ratio Median Figure of 5,245 Publicly-Listed Companies 1.79x
NasdaqGS:PDLI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:PDLI Share Price ÷ Book Value per Share (both in USD)

= 3.14 ÷ 5.62

0.56x

* Primary Listing of PDL BioPharma.

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

  • PDL BioPharma is good value based on assets compared to the US Biotechs industry average.
X
Value checks
We assess PDL BioPharma'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. PDL BioPharma has a total score of 3/6, 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 PDL BioPharma 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
30%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PDL BioPharma expected to grow at an attractive rate?
  • PDL BioPharma's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • PDL BioPharma's earnings growth is expected to exceed the United States of America market average.
  • PDL BioPharma's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:PDLI Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:PDLI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 30%
NasdaqGS:PDLI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -9%
United States of America Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 23%
United States of America Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 18.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*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
NasdaqGS:PDLI 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 USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:PDLI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 87 12 1
2022-12-31 83 6 1
2021-12-31 92 7 1
2020-12-31 115 18 2
2019-12-31 127 20 2
NasdaqGS:PDLI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 110 5 -64
2018-12-31 111 -13 -69
2018-09-30 122 -29 -63
2018-06-30 118 -41 -68
2018-03-31 140 -19 105
2017-12-31 140 41 111
2017-09-30 136 74 78
2017-06-30 143 69 71
2017-03-31 103 55 15
2016-12-31 198 102 64
2016-09-30 286 156 175
2016-06-30 377 240 230

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PDL BioPharma's earnings are expected to grow significantly at over 20% yearly.
  • PDL BioPharma's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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
NasdaqGS:PDLI 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 PDL BioPharma Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:PDLI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.10 0.10 0.10 1.00
2022-12-31 0.05 0.05 0.05 1.00
2021-12-31 0.05 0.05 0.05 1.00
2020-12-31 0.15 0.19 0.10 2.00
2019-12-31 0.16 0.16 0.15 2.00
NasdaqGS:PDLI Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.46
2018-12-31 -0.47
2018-09-30 -0.42
2018-06-30 -0.45
2018-03-31 0.69
2017-12-31 0.71
2017-09-30 0.49
2017-06-30 0.44
2017-03-31 0.09
2016-12-31 0.39
2016-09-30 1.07
2016-06-30 1.41

*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 PDL BioPharma will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess PDL BioPharma'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
PDL BioPharma has a total score of 3/6, 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 PDL BioPharma 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 PDL BioPharma'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.
  • PDL BioPharma does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare PDL BioPharma's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare PDL BioPharma's 1-year growth to the US Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
PDL BioPharma'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 PDL BioPharma Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:PDLI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 110.50 -63.78 58.58 3.03
2018-12-31 110.52 -68.86 62.56 2.96
2018-09-30 121.78 -62.80 70.05 2.88
2018-06-30 118.16 -67.63 70.35 2.81
2018-03-31 139.83 105.11 65.34 6.41
2017-12-31 139.99 110.75 63.32 7.38
2017-09-30 135.75 78.08 60.17 8.54
2017-06-30 143.37 71.25 53.60 9.87
2017-03-31 103.28 14.96 45.64 5.59
2016-12-31 197.70 63.61 40.33 3.82
2016-09-30 286.16 174.52 39.75 1.93
2016-06-30 377.01 230.07 37.79
2016-03-31 479.33 304.18 38.27
2015-12-31 485.88 332.80 36.09
2015-09-30 496.38 287.29 41.27
2015-06-30 500.49 320.07 38.51
2015-03-31 499.25 333.86 38.00
2014-12-31 487.46 322.24 34.91
2014-09-30 454.52 328.27 25.05
2014-06-30 427.92 282.26 27.29
2014-03-31 455.90 283.94 27.15
2013-12-31 431.72 264.53 29.76
2013-09-30 418.82 252.85 29.63
2013-06-30 406.74 245.20 27.35
2013-03-31 389.03 224.96 25.71
2012-12-31 374.53 211.67 25.47
2012-09-30 361.29 201.20 22.56

*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.
  • It is difficult to establish if PDL BioPharma has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if PDL BioPharma has efficiently used its assets last year compared to the US Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if PDL BioPharma 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 PDL BioPharma'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.
PDL BioPharma has a total score of 0/6, 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 PDL BioPharma'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 PDL BioPharma's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PDL BioPharma is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PDL BioPharma's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of PDL BioPharma'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 3.8x 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 PDL BioPharma Company Filings, last reported 3 months ago.

NasdaqGS:PDLI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 693.78 126.57 366.32
2018-12-31 729.78 124.64 394.59
2018-09-30 739.39 122.78 400.98
2018-06-30 712.63 120.95 395.65
2018-03-31 843.11 119.17 405.08
2017-12-31 845.89 243.48 532.11
2017-09-30 822.98 240.64 516.49
2017-06-30 818.80 237.84 435.32
2017-03-31 762.94 235.12 409.32
2016-12-31 755.42 232.44 242.14
2016-09-30 753.86 234.90 189.58
2016-06-30 738.65 232.85 115.85
2016-03-31 742.53 230.85 291.96
2015-12-31 695.95 253.83 220.35
2015-09-30 595.96 331.42 229.68
2015-06-30 527.21 354.40 294.09
2015-03-31 451.94 531.96 418.92
2014-12-31 460.44 451.72 293.69
2014-09-30 402.01 492.90 284.45
2014-06-30 296.66 508.15 217.77
2014-03-31 202.21 523.14 337.59
2013-12-31 113.49 395.28 99.54
2013-09-30 52.89 318.08 326.46
2013-06-30 -1.26 315.32 258.85
2013-03-31 -93.67 312.61 187.21
2012-12-31 -68.12 309.95 148.69
2012-09-30 -115.48 307.34 160.37
  • PDL BioPharma's level of debt (18.2%) 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 (257.3% vs 18.2% today).
  • Debt is not well covered by operating cash flow (3.6%, less than 20% of total debt).
  • Unable to confirm if the interest payments on PDL BioPharma's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess PDL BioPharma'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. PDL BioPharma 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.

Dividends

 What is PDL BioPharma'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 PDL BioPharma dividends. Estimated to be 0% next year.
If you bought $2,000 of PDL BioPharma shares you are expected to receive $0 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 PDL BioPharma's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate PDL BioPharma'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
NasdaqGS:PDLI 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
Global Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2016 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

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

NasdaqGS:PDLI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00
NasdaqGS:PDLI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-05-09 0.000 0.000
2018-03-16 0.000 0.000
2018-03-08 0.000 0.000
2017-11-13 0.000 0.000
2017-11-02 0.000 0.000
2017-08-03 0.000 0.000
2017-05-03 0.000 0.000
2017-03-01 0.000 0.000
2016-08-04 0.000 0.000
2016-02-01 0.200 6.155
2015-01-29 0.600 11.458
2014-01-30 0.600 7.063
2013-01-29 0.600 7.568
2012-01-24 0.600 8.706
2011-02-28 0.600 10.033
2010-11-09 1.000 18.100
2010-07-29 1.000 18.043
2010-07-28 1.000 16.373
2010-04-30 1.000 17.580
2010-04-29 1.000 16.248
2010-03-02 2.670 40.791
2010-03-01 2.670 38.017
2009-03-02 1.000 13.444

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

  • Unable to perform a dividend volatility check as PDL BioPharma has not reported any payouts.
  • Unable to verify if PDL BioPharma's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of PDL BioPharma's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as PDL BioPharma has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of PDL BioPharma's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess PDL BioPharma's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 PDL BioPharma afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PDL BioPharma 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.

Management

 What is the CEO of PDL BioPharma'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
Dominique Monnet
COMPENSATION $2,498,240
AGE 58
TENURE AS CEO 0.6 years
CEO Bio

Mr. Dominique P. Monnet serves as Member of Advisory Board at Antibe Therapeutics Inc. since October 2018. He is Director at Evofem Biosciences, Inc. since June 2019. Mr. Monnet has been President at PDL BioPharma, Inc. since September 11, 2017 and is its Chief Executive Officer since December 31, 2018. Mr. Monnet served as the Chief Marketing Officer and Senior Vice President of Alexion Pharmaceuticals, Inc. since May 2014 until September 18, 2015,. Mr. Monnet was responsible for the commercial operations of Alexion Pharmaceuticals in the United States and Latin America. Mr. Monnet leads Alexion's Global Franchises in PNH, aHUS and metabolic disorders and oversees the Alexion Pharmaceuticals New Products and Business Operations functions. Mr. Monnet has more than 30 years of biopharmaceutical experience. He served as Vice President and General Manager for the Inflammation Business Unit at Amgen since 2011 until 2013, where he was responsible for growing the Enbrel® franchise in a highly competitive market. He served as Vice President and Head of Amgen's Global Marketing and Commercial Development, where he led the marketing strategy and new product launches in oncology, bone health, nephrology, cardiology, neuroscience and inflammation therapeutic areas. From 2002 to 2006, Mr. Monnet was based in Zug, Switzerland, where he served as Vice President of International Marketing and Business Operations. Mr. Monnet served positions of increasing responsibility at Schering-Plough, including General Manager for UK and Ireland entity. Mr. Monnet earned his undergraduate business degree from EDHEC Business School in Lille, France and has an MBA from INSEAD in Fontainebleau, France.

CEO Compensation
  • Dominique's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Dominique's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the PDL BioPharma management team in years:

2.5
Average Tenure
56
Average Age
  • The tenure for the PDL BioPharma management team is about average.
Management Team

Dominique Monnet

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
58
TENURE
0.6 yrs

Pete Garcia

TITLE
VP & CFO
COMPENSATION
$2M
AGE
57
TENURE
6.2 yrs

Christopher Stone

TITLE
VP, General Counsel & Secretary
COMPENSATION
$2M
AGE
55
TENURE
10.4 yrs

Ed Imbrogno

TITLE
VP of Finance & Chief Accounting Officer
AGE
55
TENURE
0.1 yrs

Nathan Kryszak

TITLE
Deputy General Counsel & Assistant Secretary
TENURE
2.5 yrs
Board of Directors Tenure

Average tenure and age of the PDL BioPharma board of directors in years:

2.5
Average Tenure
64
Average Age
  • The average tenure for the PDL BioPharma board of directors is less than 3 years, this suggests a new board.
Board of Directors

Barry Selick

TITLE
Chairman & Lead Director
COMPENSATION
$293K
AGE
65

Dominique Monnet

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
58
TENURE
0.6 yrs

Paul Sandman

TITLE
Director
COMPENSATION
$285K
AGE
72
TENURE
10.8 yrs

Dave Gryska

TITLE
Director
COMPENSATION
$273K
AGE
64
TENURE
5.3 yrs

John McLaughlin

TITLE
Director
COMPENSATION
$4M
AGE
67
TENURE
10.8 yrs

Sam Saks

TITLE
Director
COMPENSATION
$265K
AGE
64
TENURE
3.8 yrs

Shlomo Yanai

TITLE
Director
COMPENSATION
$206K
AGE
67
TENURE
1.1 yrs

Liz O'Farrell

TITLE
Independent Director
COMPENSATION
$212K
AGE
55
TENURE
1.1 yrs

Natasha Hernday

TITLE
Director
AGE
47
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess PDL BioPharma'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. PDL BioPharma 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 PDL BioPharma (NASDAQ:PDLI) Have A Healthy Balance Sheet?

However, its balance sheet shows it holds US$366.3m in cash, so it actually has US$239.8m net cash. … NasdaqGS:PDLI Historical Debt, July 9th 2019 A Look At PDL BioPharma's Liabilities We can see from the most recent balance sheet that PDL BioPharma had liabilities of US$43.3m falling due within a year, and liabilities of US$186.4m due beyond that. … When analysing debt levels, the balance sheet is the obvious place to start.

Simply Wall St -

Is PDL BioPharma, Inc. (NASDAQ:PDLI) Trading At A 45% Discount?

(NASDAQ:PDLI) by estimating the company's future cash flows and discounting them to their present value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $78.12 $71.09 $67.20 $65.17 $64.33 $64.28 $64.77 $65.64 $66.80 $68.17 Growth Rate Estimate Source Est @ -14.02% Est @ -8.99% Est @ -5.48% Est @ -3.01% Est @ -1.29% Est @ -0.08% Est @ 0.76% Est @ 1.35% Est @ 1.76% Est @ 2.05% Present Value ($, Millions) Discounted @ 11.78% $69.88 $56.89 $48.11 $41.74 $36.86 $32.95 $29.70 $26.93 $24.51 $22.38 Present Value of 10-year Cash Flow (PVCF)= $389.95m "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = US$68m × (1 + 2.7%) ÷ (11.8% – 2.7%) = US$774m Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$774m ÷ ( 1 + 11.8%)10 = $253.98m The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is $643.93m.

Simply Wall St -

Some PDL BioPharma Shareholders Have Copped A Big 56% Share Price Drop

(NASDAQ:PDLI) share price has gained 18% in the last three months. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over five years PDL BioPharma's earnings per share dropped significantly, falling to a loss, with the share price also lower.

Simply Wall St -

Does PDL BioPharma Inc's (NASDAQ:PDLI) CEO Pay Compare Well With Peers?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does John McLaughlin's Compensation Compare With Similar Sized Companies. … According to our data, PDL BioPharma Inc has a market capitalization of US$434m, and pays its CEO total annual compensation worth US$3.4m.

Simply Wall St -

Is PDL BioPharma Inc (NASDAQ:PDLI) Worth US$2.51 Based On Intrinsic Value?

by taking the foreast future cash flows of the company and discounting them back to today's value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Is PDL BioPharma Inc (NASDAQ:PDLI) A Buy At Its Current PE Ratio?

and want to better understand how you can grow your money by investing in PDL BioPharma Inc (NASDAQ:PDLI). … PDL BioPharma Inc (NASDAQ:PDLI) is currently trading at a trailing P/E of 3.4x, which is lower than the industry average of 26.7x. … While PDLI might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions

Simply Wall St -

Why PDL BioPharma Inc (NASDAQ:PDLI) May Not Be As Efficient As Its Industry

Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of PDL BioPharma’s equity capital deployed. … ROE can be split up into three useful ratios: net profit margin, asset turnover, and financial leverage. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NasdaqGS:PDLI Last Perf Mar 8th 18 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.

Simply Wall St -

Does PDL BioPharma Inc's (NASDAQ:PDLI) Past Performance Indicate A Weaker Future?

When PDL BioPharma Inc (NASDAQ:PDLI) announced its most recent earnings (30 September 2017), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … To account for any quarterly or half-yearly updates, I use data from the most recent 12 months, which either annualizes the most recent 6-month earnings update, or in some cases, the most recent annual report is already the latest available financial data. … Inspecting growth from a sector-level, the US biotechs industry has been growing its average earnings by double-digit 13.11% over the prior twelve months, and 19.44% over the previous five years.

Simply Wall St -

Should You Be Tempted To Buy PDL BioPharma Inc (NASDAQ:PDLI) Because Of Its PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for PDLI Price per share = $2.45 Earnings per share = $0.492 ∴ Price-Earnings Ratio = $2.45 ÷ $0.492 = 5x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you accidentally compared higher growth firms with PDLI, then PDLI’s P/E would naturally be lower since investors would reward its peers’ higher growth with a higher price. … Alternatively, if you inadvertently compared less risky firms with PDLI, PDLI’s P/E would again be lower since investors would reward its peers’ lower risk with a higher price as well.

Simply Wall St -

Why PDL BioPharma Inc (PDLI) Delivered An Inferior ROE Compared To The Industry

View our latest analysis for PDL BioPharma What you must know about ROE Return on Equity (ROE) is a measure of PDLI’s profit relative to its shareholders’ equity. … ROE can be broken down into three different ratios: net profit margin, asset turnover, and financial leverage. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NasdaqGS:PDLI Last Perf Dec 6th 17 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient PDLI is with its cost management.

Simply Wall St -

Company Info

Description

PDL BioPharma, Inc. acquires, manages, and commercializes commercial stage pharmaceutical assets and late clinical stage pharmaceutical products in the United States, Europe, and internationally. The company operates in three segments: Pharmaceutical, Medical Devices, and Income Generating Assets. The Pharmaceutical segment manufactures, markets, and sells prescription medicine products for the treatment of hypertension to wholesalers under the Tekturna and Tekturna HCT names in the United States, as well as under the Rasilez and Rasilez HCT names internationally. The Medical Devices segment manufactures, markets, and sells LENSAR laser systems for anterior capsulotomy, lens fragmentation, corneal and arcuate incisions to ophthalmic ambulatory surgical centers, specialty ophthalmic hospitals, and multi-specialty hospitals through a direct sales force. The Income Generating Assets segment consists of notes and other long-term receivables; royalty rights and hybrid notes/royalty receivables; equity investments in healthcare companies; and royalties from issued patents covering the humanization of antibodies, including Avastin, Herceptin, Xolair, Lucentis, Perjeta, Kadcyla, and Tysabri. The company was formerly known as Protein Design Labs, Inc. and changed its name to PDL BioPharma, Inc. in 2006. PDL BioPharma, Inc. was founded in 1986 and is headquartered in Incline Village, Nevada.

Details
Name: PDL BioPharma, Inc.
PDLI
Exchange: NasdaqGS
Founded: 1986
$375,695,341
119,648,198
Website: http://www.pdl.com
Address: PDL BioPharma, Inc.
932 Southwood Boulevard,
Incline Village,
Nevada, 89451,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS PDLI Common Stock Nasdaq Global Select US USD 29. Jan 1992
DB PDL Common Stock Deutsche Boerse AG DE EUR 29. Jan 1992
Number of employees
Current staff
Staff numbers
110
PDL BioPharma employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/21 00:06
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/05/23
Last earnings filing: 2019/05/09
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.