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Emergent BioSolutions

NYSE:EBS
Snowflake Description

Limited growth with imperfect balance sheet.

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

Emergent BioSolutions Inc., a life sciences company, focuses on the provision of specialty products for civilian and military populations that address accidental, intentional, and naturally occurring public health threats (PHTs). The last earnings update was 71 days ago. More info.


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  • Emergent BioSolutions has significant price volatility in the past 3 months.
EBS Share Price and Events
7 Day Returns
-2.9%
NYSE:EBS
-1.9%
US Biotechs
0.6%
US Market
1 Year Returns
-22.4%
NYSE:EBS
-11.9%
US Biotechs
4.1%
US Market
EBS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Emergent BioSolutions (EBS) -2.9% -9.1% -19.9% -22.4% 31.3% 84.9%
US Biotechs -1.9% 1.7% 0.8% -11.9% 9.7% 7.8%
US Market 0.6% 3.8% 2.8% 4.1% 37.3% 42.5%
1 Year Return vs Industry and Market
  • EBS underperformed the Biotechs industry which returned -11.9% over the past year.
  • EBS underperformed the Market in United States of America which returned 4.1% over the past year.
Price Volatility
EBS
Industry
5yr Volatility vs Market

Value

 Is Emergent BioSolutions 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 Emergent BioSolutions 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 Emergent BioSolutions.

NYSE:EBS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 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 NYSE:EBS
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))
= 1.325 (1 + (1- 21%) (34.7%))
1.461
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% + (1.461 * 5.96%)
11.44%

Discounted Cash Flow Calculation for NYSE:EBS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Emergent BioSolutions 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.

NYSE:EBS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.44%)
2020 201.00 Analyst x1 180.37
2021 181.34 Est @ -9.78% 146.03
2022 170.41 Est @ -6.03% 123.14
2023 164.62 Est @ -3.4% 106.74
2024 162.05 Est @ -1.56% 94.29
2025 161.61 Est @ -0.27% 84.38
2026 162.62 Est @ 0.63% 76.19
2027 164.67 Est @ 1.26% 69.23
2028 167.47 Est @ 1.7% 63.18
2029 170.83 Est @ 2.01% 57.84
Present value of next 10 years cash flows $1,001.39
NYSE:EBS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $170.83 × (1 + 2.73%) ÷ (11.44% – 2.73%)
$2,015.15
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,015.15 ÷ (1 + 11.44%)10
$682.25
NYSE:EBS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,001.39 + $682.25
$1,683.64
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,683.64 / 51.38
$32.77
NYSE:EBS Discount to Share Price
Calculation Result
Value per share (USD) From above. $32.77
Current discount Discount to share price of $42.41
= -1 x ($42.41 - $32.77) / $32.77
-29.4%

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

  • The current share price of Emergent BioSolutions 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 Emergent BioSolutions's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Emergent BioSolutions's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:EBS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.82
NYSE:EBS Share Price ** NYSE (2019-07-17) in USD $42.41
United States of America Biotechs Industry PE Ratio Median Figure of 35 Publicly-Listed Biotechs Companies 19.51x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.98x

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

** Primary Listing of Emergent BioSolutions.

NYSE:EBS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:EBS Share Price ÷ EPS (both in USD)

= 42.41 ÷ 0.82

51.48x

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

  • Emergent BioSolutions is overvalued based on earnings compared to the US Biotechs industry average.
  • Emergent BioSolutions is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Emergent BioSolutions's expected growth come at a high price?
Raw Data
NYSE:EBS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 51.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
15.8%per year
United States of America Biotechs Industry PEG Ratio Median Figure of 26 Publicly-Listed Biotechs Companies 0.81x
United States of America Market PEG Ratio Median Figure of 2,122 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

NYSE:EBS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 51.48x ÷ 15.8%

3.26x

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

  • Emergent BioSolutions is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Emergent BioSolutions's assets?
Raw Data
NYSE:EBS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $19.21
NYSE:EBS Share Price * NYSE (2019-07-17) in USD $42.41
United States of America Biotechs Industry PB Ratio Median Figure of 436 Publicly-Listed Biotechs Companies 3.03x
United States of America Market PB Ratio Median Figure of 5,241 Publicly-Listed Companies 1.81x
NYSE:EBS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:EBS Share Price ÷ Book Value per Share (both in USD)

= 42.41 ÷ 19.21

2.21x

* Primary Listing of Emergent BioSolutions.

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

  • Emergent BioSolutions is good value based on assets compared to the US Biotechs industry average.
X
Value checks
We assess Emergent BioSolutions'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. Emergent BioSolutions 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 Emergent BioSolutions expected to perform in the next 1 to 3 years based on estimates from 7 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
15.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Emergent BioSolutions expected to grow at an attractive rate?
  • Emergent BioSolutions's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Emergent BioSolutions's earnings growth is expected to exceed the United States of America market average.
  • Emergent BioSolutions's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:EBS Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:EBS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 15.8%
NYSE:EBS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 5.4%
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 14.1%
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
NYSE:EBS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:EBS Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,301 343 132 3
2022-12-31 1,236 302 132 3
2021-12-31 1,185 270 130 3
2020-12-31 1,162 222 99 7
2019-12-31 1,077 265 92 7
NYSE:EBS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 855 148 42
2018-12-31 782 42 63
2018-09-30 705 285 100
2018-06-30 681 146 113
2018-03-31 562 165 67
2017-12-31 561 208 83
2017-09-30 519 118 81
2017-06-30 512 110 68
2017-03-31 503 54 61
2016-12-31 489 55 63
2016-09-30 497 70 73
2016-06-30 512 148 94

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Emergent BioSolutions's earnings are expected to grow by 15.8% yearly, however this is not considered high growth (20% yearly).
  • Emergent BioSolutions's revenue is expected to grow by 5.4% 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
NYSE:EBS 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 7 Analyst Estimates (S&P Global) See Below

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

NYSE:EBS Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.51 2.51 2.51 1.00
2022-12-31 2.51 2.51 2.51 1.00
2021-12-31 2.48 2.48 2.48 1.00
2020-12-31 1.88 2.26 1.37 3.00
2019-12-31 1.77 1.78 1.76 2.00
NYSE:EBS Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.82
2018-12-31 1.25
2018-09-30 2.07
2018-06-30 2.44
2018-03-31 1.53
2017-12-31 1.98
2017-09-30 1.98
2017-06-30 1.67
2017-03-31 1.51
2016-12-31 1.55
2016-09-30 1.83
2016-06-30 2.40

*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 Emergent BioSolutions will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Emergent BioSolutions'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.
Emergent BioSolutions has a total score of 2/6, 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 Emergent BioSolutions 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 Emergent BioSolutions'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.
  • Emergent BioSolutions's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Emergent BioSolutions's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Emergent BioSolutions's 1-year earnings growth is negative, it can't be compared to the US Biotechs industry average.
Earnings and Revenue History
Emergent BioSolutions'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 Emergent BioSolutions Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:EBS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 855.20 41.60 207.10
2018-12-31 782.40 62.70 181.70
2018-09-30 705.49 100.14 162.99
2018-06-30 681.27 112.74 155.39
2018-03-31 561.84 67.22 147.75
2017-12-31 560.90 82.60 142.90
2017-09-30 518.73 80.94 130.94
2017-06-30 512.21 67.78 133.38
2017-03-31 502.68 61.12 137.44
2016-12-31 488.80 62.50 143.10
2016-09-30 496.90 72.73 139.46
2016-06-30 512.37 94.43 128.32
2016-03-31 528.66 124.83 118.67
2015-12-31 489.33 91.42 121.15
2015-09-30 477.52 79.04 110.07
2015-06-30 457.10 58.79 114.56
2015-03-31 459.89 35.46 118.85
2014-12-31 404.47 54.27 108.59
2014-09-30 400.27 21.85 109.06
2014-06-30 351.42 13.51 100.72
2014-03-31 323.53 18.96 90.67
2013-12-31 312.75 31.14 84.58
2013-09-30 309.24 32.02 81.96
2013-06-30 286.73 25.15 79.16
2013-03-31 274.68 22.29 76.55
2012-12-31 281.89 23.52 76.02
2012-09-30 295.23 36.07 73.22

*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.
  • Emergent BioSolutions has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Emergent BioSolutions used its assets less efficiently than the US Biotechs industry average last year based on Return on Assets.
  • Emergent BioSolutions's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Emergent BioSolutions'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.
Emergent BioSolutions has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

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

Health

 How is Emergent BioSolutions'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 Emergent BioSolutions's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Emergent BioSolutions is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Emergent BioSolutions's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Emergent BioSolutions's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x 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 Emergent BioSolutions Company Filings, last reported 3 months ago.

NYSE:EBS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 987.50 742.50 137.20
2018-12-31 1,010.90 794.60 112.20
2018-09-30 966.65 13.50 339.36
2018-06-30 938.35 13.48 190.24
2018-03-31 881.28 13.47 163.61
2017-12-31 912.30 13.50 178.30
2017-09-30 663.71 248.99 340.99
2017-06-30 620.60 248.69 315.63
2017-03-31 610.42 248.39 270.17
2016-12-31 596.21 268.09 271.51
2016-09-30 547.62 267.79 298.93
2016-06-30 672.67 247.39 333.40
2016-03-31 666.98 247.19 341.02
2015-12-31 660.02 246.89 308.30
2015-09-30 605.31 253.00 308.72
2015-06-30 562.25 253.00 214.84
2015-03-31 537.88 251.00 216.52
2014-12-31 553.20 251.00 280.50
2014-09-30 513.14 251.00 242.25
2014-06-30 487.77 251.00 168.13
2014-03-31 477.50 251.00 160.22
2013-12-31 489.17 62.00 179.34
2013-09-30 466.86 59.42 172.56
2013-06-30 449.08 60.54 156.24
2013-03-31 435.81 61.66 130.24
2012-12-31 442.13 62.77 141.67
2012-09-30 428.41 63.01 197.90
  • Emergent BioSolutions's level of debt (75.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (52.6% vs 75.2% today).
  • Debt is not well covered by operating cash flow (19.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.8x coverage).
X
Financial health checks
We assess Emergent BioSolutions'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. Emergent BioSolutions has a total score of 2/6, 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 Emergent BioSolutions'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 Emergent BioSolutions dividends.
If you bought $2,000 of Emergent BioSolutions 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 Emergent BioSolutions's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Emergent BioSolutions'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
NYSE:EBS 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 7 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 2017 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 3.7%

Industry and Market average data is calculated daily.

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

NYSE:EBS 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
2019-12-31

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

  • Unable to perform a dividend volatility check as Emergent BioSolutions has not reported any payouts.
  • Unable to verify if Emergent BioSolutions's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Emergent BioSolutions's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Emergent BioSolutions has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Emergent BioSolutions'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 Emergent BioSolutions afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Emergent BioSolutions 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 Emergent BioSolutions'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
Bob Kramer
COMPENSATION $2,212,484
AGE 62
TENURE AS CEO 0.3 years
CEO Bio

Mr. Robert G. Kramer, Sr., also known as Bob, has been President at Emergent BioSolutions Inc. since March 26, 2018 and has been its Chief Executive Officer and Director since April 01, 2019. Mr. Kramer was Chief Operating Officer at Emergent BioSolutions Inc. since March 26, 2018 until April 01, 2019. Mr. Kramer served as the Chief Financial Officer and Executive Vice President of Corporate Services Division at Emergent BioSolutions, Inc. since December 2012 and September 2012 respectively until March 2018 and served as its Treasurer until March 2018. Mr. Kramer served as Executive Vice President of Administration at Emergent BioSolutions Inc. since September 2012 and its Principal Accounting Officer until March 2018. Mr. Kramer is responsible for its legal affairs, strategic investments, human capital, management services and sales & marketing. He serves as the President and Chief Operating Officer of Ronald McDonald House of Outstate Michigan. He served as President of Aptevo Therapeutics Inc. until August 1, 2016. He served as an Interim Executive Vice President of Corporate Services Division at Emergent BioSolutions, Inc. since January 2012. Mr. Kramer has nearly 25 years management experience, much of that within the pharmaceutical industry. Mr. Kramer served as the President and Chief Executive Officer of Emergent BioDefense Operations Lansing Inc. since July 2004 and also served as its Chief Operating Officer. Mr. Kramer served as an Executive Vice President of Manufacturing Operations at Emergent BioSolutions, Inc. since April 2007 and was responsible for global manufacturing. He served as the Chief Financial Officer of BioPort Corp. from February 1999 to August 2000, as Chief Operating Officer from September 2000 to June 2004 and as President from October 2001 to June 2004. Prior to joining BioPort, he served in various financial management positions at Pharmacia Corp., which was subsequently acquired by Pfizer Inc., and as Financial Analyst and then Manager of financial planning and analysis for Northwest Industries from 1979 to 1984 and then served in various financial management positions within the Northwest Industries (Now Pharmacia), served as its Treasurer for its North America operations in1990. He serves as a Director of BioPort Corporation. He serves as a Director of Ronald McDonald House of Mid-Michigan of Ronald McDonald House of Outstate Michigan. He served as a Director of Emergent BioDefense Operations Lansing Inc. He has been a Director of Emergent Biosolutions, Inc., since April 01, 2019. He served as Director of Aptevo Therapeutics Inc. until August 1, 2016. Mr. Kramer received his BS degree in Industrial Management from Clemson University and his MBA from Western Kentucky University.

CEO Compensation
  • Bob's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Bob's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Emergent BioSolutions management team in years:

2.2
Average Tenure
55
Average Age
  • The tenure for the Emergent BioSolutions management team is about average.
Management Team

Fuad El-Hibri

TITLE
Founder & Executive Chairman of the Board
COMPENSATION
$3M
AGE
61
TENURE
21.5 yrs

Bob Kramer

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
62
TENURE
0.3 yrs

Richard Lindahl

TITLE
Executive VP
COMPENSATION
$2M
AGE
55
TENURE
1.3 yrs

Atul Saran

TITLE
Executive VP of Corporate Development
COMPENSATION
$2M
AGE
46
TENURE
2.2 yrs

Adam Havey

TITLE
Executive VP of Business Operations
COMPENSATION
$2M
AGE
48

Sean Kirk

TITLE
Executive Vice President of Manufacturing & Technical Operations
TENURE
0.3 yrs

Sharon Solomon

TITLE
Senior VP & Chief Information Officer

Robert Burrows

TITLE
Vice President of Investor Relations
TENURE
13.1 yrs

Laura Kennedy

TITLE
Senior VP and Chief Ethics & Compliance Officer
TENURE
2.8 yrs

Lynn Kieffer

TITLE
Vice President of Corporate Communications
Board of Directors Tenure

Average tenure and age of the Emergent BioSolutions board of directors in years:

6
Average Tenure
68.5
Average Age
  • The tenure for the Emergent BioSolutions board of directors is about average.
Board of Directors

Bob Kramer

TITLE
CEO, President & Director
COMPENSATION
$2M
AGE
62
TENURE
0.3 yrs

Zsolt Harsanyi

TITLE
Independent Director
COMPENSATION
$354K
AGE
75
TENURE
14.9 yrs

Fuad El-Hibri

TITLE
Founder & Executive Chairman of the Board
COMPENSATION
$3M
AGE
61
TENURE
15.1 yrs

Jerome Hauer

TITLE
Independent Director
COMPENSATION
$347K
AGE
67
TENURE
4.5 yrs

Ron Richard

TITLE
Lead Independent Director
COMPENSATION
$383K
AGE
63

Louis Sullivan

TITLE
Independent Director
COMPENSATION
$347K
AGE
86
TENURE
13.1 yrs

Sue Bailey

TITLE
Independent Director
COMPENSATION
$332K
AGE
75
TENURE
12.1 yrs

George Joulwan

TITLE
Independent Director
COMPENSATION
$338K
AGE
80
TENURE
6 yrs

Kathryn Zoon

TITLE
Independent Director
COMPENSATION
$334K
AGE
70
TENURE
2.7 yrs

Seamus Mulligan

TITLE
Director
AGE
59
TENURE
0.3 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 ($) Value ($)
08. Nov 18 Sell Zsolt Harsanyi Individual 06. Nov 18 06. Nov 18 -8,000 $68.90 $-551,194
08. Nov 18 Sell Kathryn Zoon Individual 07. Nov 18 07. Nov 18 -1,871 $70.08 $-131,118
08. Nov 18 Sell George Joulwan Individual 06. Nov 18 06. Nov 18 -4,058 $68.45 $-277,784
X
Management checks
We assess Emergent BioSolutions'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. Emergent BioSolutions 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 Emergent BioSolutions (NYSE:EBS) Have A Healthy Balance Sheet?

Since Emergent BioSolutions does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time. … Over the most recent three years, Emergent BioSolutions recorded free cash flow worth 53% of its EBIT, which is around normal, given free cash flow excludes interest and tax. … We think that Emergent BioSolutions's debt does make it a bit risky, after considering the aforementioned data points together.

Simply Wall St -

Is Emergent BioSolutions Inc. (NYSE:EBS) Worth US$39.92 Based On Its Intrinsic Value?

Today, we will estimate the stock's intrinsic value by taking the expected future cash flows and discounting them to their present value. … We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $234.00 $201.00 $181.34 $170.41 $164.62 $162.05 $161.61 $162.62 $164.67 $167.47 Growth Rate Estimate Source Analyst x1 Analyst x1 Est @ -9.78% Est @ -6.03% Est @ -3.4% Est @ -1.56% Est @ -0.27% Est @ 0.63% Est @ 1.26% Est @ 1.7% Present Value ($, Millions) Discounted @ 11.83% $209.25 $160.73 $129.68 $108.98 $94.14 $82.87 $73.90 $66.50 $60.22 $54.76 Present Value of 10-year Cash Flow (PVCF)= $1.04b "Est" = FCF growth rate estimated by Simply Wall St The second stage is also known as Terminal Value, this is the business's cash flow after the first stage.

Simply Wall St -

Emergent BioSolutions (NYSE:EBS) Shareholders Have Enjoyed An Impressive 110% Share Price Gain

During five years of share price growth, Emergent BioSolutions achieved compound earnings per share (EPS) growth of 9.6% per year. … Investors should note that there's a difference between Emergent BioSolutions's total shareholder return (TSR) and its share price change, which we've covered above. … Emergent BioSolutions hasn't been paying dividends, but its TSR of 124% exceeds its share price return of 110%, implying it has either spun-off a business, or raised capital at a discount; thereby providing additional value to shareholders.

Simply Wall St -

What Investors Should Know About Emergent BioSolutions Inc.'s (NYSE:EBS) Financial Strength

Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Emergent BioSolutions Inc. … Today we will look at EBS’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … See our latest analysis for Emergent BioSolutions

Simply Wall St -

What Should Investors Know About Emergent BioSolutions Inc.'s (NYSE:EBS) Long Term Outlook?

Emergent BioSolutions Inc.'s (NYSE:EBS) announced its latest earnings update in December 2018, whicha

Simply Wall St -

Based On Its ROE, Is Emergent BioSolutions Inc. (NYSE:EBS) A High Quality Stock?

Our data shows Emergent BioSolutions has a return on equity of 6.2% for the last year. … That means that for every $1 worth of shareholders' equity, it generated $0.062 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Be Pleased About The CEO Pay At Emergent BioSolutions Inc.'s (NYSE:EBS)

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Dan Abdun-Nabi's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$2.6b, and pays its CEO total annual compensation worth US$3.7m.

Simply Wall St -

Should You Be Worried About Insider Transactions At Emergent BioSolutions Inc. (NYSE:EBS)?

So shareholders might well want to know whether insiders have been buying or selling shares in Emergent BioSolutions Inc. … Over the last year we saw more insider selling of Emergent BioSolutions shares, than buying … It's not particularly great to see insiders were selling shares around current prices

Simply Wall St -

Should You Be Tempted To Sell Emergent BioSolutions Inc. (NYSE:EBS) Because Of Its P/E Ratio?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Emergent BioSolutions has a P/E ratio of 32.02, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Emergent BioSolutions Inc. (NYSE:EBS): What We Can Expect From This Growth Stock

Help shape the future of investing tools and you could win a $250 gift card! … In September 2018, Emergent BioSolutions Inc. … the past 5-year average growth rate of 22%.

Simply Wall St -

Company Info

Description

Emergent BioSolutions Inc., a life sciences company, focuses on the provision of specialty products for civilian and military populations that address accidental, intentional, and naturally occurring public health threats (PHTs). Its products address PHTs, including chemical, biological, radiological, nuclear, and explosives; emerging infectious diseases; travelers’ diseases; and opioids. The company offers BioThrax, an anthrax vaccine; ACAM2000, a smallpox vaccine; Vaxchora, a cholera vaccine; and Vivotif, a typhoid vaccine. It also provides NARCAN for the emergency treatment of known or suspected opioid overdose; RSDL (Reactive Skin Decontamination Lotion Kit), a medical device to remove or neutralize chemical warfare agents from the skin; and Trobigard for intramuscular self-injection of atropine sulfate and obidoxime chloride. In addition, the company offers raxibacumab for the treatment and prophylaxis of inhalational anthrax; Anthrasil to treat inhalational anthrax; BAT (Botulism Antitoxin Heptavalent) for treating botulinum disease; and VIGIV (vaccinia immune globulin intravenous) that addresses complications from smallpox vaccination. Further, it provides NuThrax, an anthrax vaccine; CHIKUNGUNYA, a chikungunya virus-like particle vaccine; ADENOVIRUS 4/7, a live attenuated vaccine; rVSV-Lassa, a vaccine for prevention of Lassa fever; rVSV-Marburg, a vaccine for prevention of Marburg hemorrhagic fever; rVSV-Sudan, vaccine for prevention of Sudan hemorrhagic fever; rVSV-QUAD, a vaccine for prevention of hemorrhagic fever; and rVSV-Ebola, a vaccine for prevention of Ebola hemorrhagic fever. Additionally, the company offers FLU-IGIV to treat Influenza A infection in hospitalized patients; and ZIKV-IG, a prophylaxis for Zika infections, as well as contract manufacturing services to third-party customers. Emergent BioSolutions Inc. was founded in 1998 and is headquartered in Gaithersburg, Maryland.

Details
Name: Emergent BioSolutions Inc.
EBS
Exchange: NYSE
Founded: 1998
$2,179,129,874
51,382,454
Website: http://www.emergentbiosolutions.com
Address: Emergent BioSolutions Inc.
400 Professional Drive,
Suite 400,
Gaithersburg,
Maryland, 20879,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE EBS Common Stock New York Stock Exchange US USD 15. Nov 2006
DB ER4 Common Stock Deutsche Boerse AG DE EUR 15. Nov 2006
LSE 0IGA Common Stock London Stock Exchange GB USD 15. Nov 2006
Number of employees
Current staff
Staff numbers
1,705
Emergent BioSolutions employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/18 00:10
End of day share price update: 2019/07/17 00:00
Last estimates confirmation: 2019/07/08
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.