OncoCyte

AMEX:OCX

Snowflake Description

Excellent balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.

OCX

AMEX

$213M

Market Cap

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Last updated 2019/06/18 00:45

Company description

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OncoCyte has significant price volatility in the past 3 months.

OCX Share Price and Events

7 Day Returns

16.9%

AMEX:OCX

-0.4%

US Biotechs

0.3%

US Market

1 Year Returns

74%

AMEX:OCX

-9%

US Biotechs

0.7%

US Market

OCX Shareholder Return

	7 Day	30 Day	90 Day	1 Year	3 Year	5 Year
OncoCyte (OCX)	16.9%	-25%	10.2%	74%	2.3%	-
US Biotechs	-0.4%	-1%	-8.9%	-9%	11.4%	5.1%
US Market	0.3%	0.4%	0.6%	0.7%	37.2%	37.4%

1 Year Return vs Industry and Market

OCX outperformed the Biotechs industry which returned -9% over the past year.
OCX outperformed the Market in United States of America which returned 0.7% over the past year.

Price Volatility

OCX

Industry

5yr Volatility vs Market

Related Companies

OCX Value

Is OncoCyte 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 OncoCyte 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 OncoCyte.

AMEX:OCX Discounted Cash Flow Data Sources
Data Point	Source	Value
Valuation Model		2 Stage Free Cash Flow to Equity
Levered Free Cash Flow	Average of 5 Analyst Estimates (S&P Global)	See below
Discount Rate (Cost of Equity)	See below	10%
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 AMEX:OCX
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	1.32
Re-levered Beta	= Unlevered beta (1 + (1- tax rate) (Debt/Equity)) = 1.318 (1 + (1- 21%) (0.66%))	1.218
Levered Beta	Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm)	1.22
Discount Rate/ Cost of Equity	= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium) = 2.73% + (1.218 * 5.96%)	9.99%

Discounted Cash Flow Calculation for AMEX:OCX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for OncoCyte 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.

AMEX:OCX DCF 1st Stage: Next 10 year cash flow forecast
	Levered FCF (USD, Millions)	Source	Present Value Discounted (@ 9.99%)
2019	-17.80	Analyst x1	-16.18
2020	-17.60	Analyst x1	-14.55
2021	-18.30	Analyst x1	-13.75
2022	-7.80	Analyst x1	-5.33
2023	19.00	Analyst x1	11.80
2024	21.54	Est @ 13.39%	12.17
2025	23.74	Est @ 10.19%	12.19
2026	25.63	Est @ 7.95%	11.97
2027	27.26	Est @ 6.39%	11.57
2028	28.71	Est @ 5.29%	11.08
Present value of next 10 years cash flows			$20.97

AMEX:OCX DCF 2nd Stage: Terminal Value
	Calculation	Result
Terminal Value	= FCF₂₀₂₈ × (1 + g) ÷ (Discount Rate – g) = $28.71 × (1 + 2.73%) ÷ (9.99% – 2.73%)	$406.32
Present Value of Terminal Value	= Terminal Value ÷ (1 + r)¹⁰ = $406.32 ÷ (1 + 9.99%)¹⁰	$156.83

AMEX:OCX Total Equity Value
	Calculation	Result
Total Equity Value	= Present value of next 10 years cash flows + Terminal Value = $20.97 + $156.83	$177.80
Equity Value per Share (USD)	= Total value / Shares Outstanding = $177.80 / 51.97	$3.42

AMEX:OCX Discount to Share Price
	Calculation	Result
Value per share (USD)	From above.	$3.42
Current discount	Discount to share price of $4.09 = -1 x ($4.09 - $3.42) / $3.42	-19.6%

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

The current share price of OncoCyte 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 OncoCyte's earnings, growth and assets is considered below, and whether this is a fair price.

Price based on past earnings

Are OncoCyte's earnings available for a low price, and how does this compare to other companies in the same industry?

Raw Data

AMEX:OCX PE (Price to Earnings) Ratio Data Sources
Data Point	Source	Value
Earnings Per Share *	Company Filings (2019-03-31) in USD	$-0.38
AMEX:OCX Share Price **	AMEX (2019-06-17) in USD	$4.09
United States of America Biotechs Industry PE Ratio	Median Figure of 35 Publicly-Listed Biotechs Companies	19.23x
United States of America Market PE Ratio	Median Figure of 3,093 Publicly-Listed Companies	17.68x

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

** Primary Listing of OncoCyte.

AMEX:OCX PE (Price to Earnings) Ratio Calculation
	Calculation	Outcome
PE Ratio	= AMEX:OCX Share Price ÷ EPS (both in USD) = 4.09 ÷ -0.38	-10.74x

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

OncoCyte is loss making, we can't compare its value to the US Biotechs industry average.
OncoCyte 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 OncoCyte's expected growth come at a high price?

Raw Data

AMEX:OCX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point	Source	Value
PE Ratio	See PE Ratio Section	-10.74x
Net Income Annual Growth Rate	See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts	46.6%per year
United States of America Biotechs Industry PEG Ratio	Median Figure of 26 Publicly-Listed Biotechs Companies	1.08x
United States of America Market PEG Ratio	Median Figure of 2,125 Publicly-Listed Companies	1.52x

*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 OncoCyte, we can't assess if its growth is good value.

Price based on value of assets

What value do investors place on OncoCyte's assets?

Raw Data

AMEX:OCX PB (Price to Book) Ratio Data Sources
Data Point	Source	Value
Book Value per Share	Company Filings (2019-03-31) in USD	$0.73
AMEX:OCX Share Price *	AMEX (2019-06-17) in USD	$4.09
United States of America Biotechs Industry PB Ratio	Median Figure of 425 Publicly-Listed Biotechs Companies	2.9x
United States of America Market PB Ratio	Median Figure of 5,245 Publicly-Listed Companies	1.79x

AMEX:OCX PB (Price to Book) Ratio Calculation
	Calculation	Outcome
PB Ratio	= AMEX:OCX Share Price ÷ Book Value per Share (both in USD) = 4.09 ÷ 0.73	5.57x

* Primary Listing of OncoCyte.

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

OncoCyte is overvalued based on assets compared to the US Biotechs industry average.

Value checks

We assess OncoCyte's value by looking at:

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. )
Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)

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

OCX Future Performance

How is OncoCyte expected to perform in the next 1 to 3 years based on estimates from 5 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!

46.6%

Expected annual growth in earnings.

Earnings growth vs Low Risk Savings

Is OncoCyte expected to grow at an attractive rate?

OncoCyte's earnings growth is expected to exceed the low risk savings rate of 2.7%.

Growth vs Market Checks

OncoCyte's earnings growth is expected to exceed the United States of America market average.
Unable to compare OncoCyte's revenue growth to the United States of America market average as no estimate data is available.

Annual Growth Rates Comparison

Raw Data

AMEX:OCX Future Growth Rates Data Sources
Data Point	Source	Value (per year)
AMEX:OCX Future Earnings Growth Rate	Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts	46.6%
United States of America Biotechs Industry Earnings Growth Rate	Market Cap Weighted Average	22.6%
United States of America Biotechs Industry Revenue Growth Rate	Market Cap Weighted Average	18%
United States of America Market Earnings Growth Rate	Market Cap Weighted Average	13.8%
United States of America Market Revenue Growth Rate	Market Cap Weighted Average	7.3%

*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

AMEX:OCX Analysts Growth Expectations Data Sources
Data Point	Source	Value
Past Financials	Company Filings (2 months ago)	See Below
Future Estimates	Average of up to 5 Analyst Estimates (S&P Global)	See Below

All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:OCX Future Estimates Data
Date (Data in USD Millions)	Revenue	Cash Flow	Net Income *	Avg. No. Analysts
2023-12-31	92	23	16	2
2022-12-31	54	-5	-2	2
2021-12-31	25	-16	-17	2
2020-12-31	2	-17	-21	3
2019-12-31	0	-18	-18	5

AMEX:OCX Past Financials Data
Date (Data in USD Millions)	Revenue	Cash Flow
2019-03-31	-16	-16
2018-12-31	-12	-16
2018-09-30	-13	-15
2018-06-30	-14	-19
2018-03-31	-13	-18
2017-12-31	-13	-19
2017-09-30	-13	-19
2017-06-30	-10	-14
2017-03-31	-9	-13
2016-12-31	-8	-11
2016-09-30	-7	-12
2016-06-30	-7	-11

*GAAP earnings excluding extraordinary items.

High Growth Checks

OncoCyte's earnings are expected to grow significantly at over 20% yearly.
Unable to determine if OncoCyte is high growth as no revenue estimate data is available.

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

AMEX:OCX Past and Future Earnings per Share
Data Point	Source	Value
Past Financials	Company Filings (2 months ago)	See Below
Future Estimates	Average of up to 5 Analyst Estimates (S&P Global)	See Below

All data from OncoCyte Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:OCX Future Estimates Data
Date (Data in USD Millions)	EPS *	EPS High Estimate	EPS Low Estimate	Avg. No. Analysts
2023-12-31	0.27	0.40	0.14	2.00
2022-12-31	-0.03	0.02	-0.08	2.00
2021-12-31	-0.30	-0.29	-0.31	2.00
2020-12-31	-0.39	-0.29	-0.53	5.00
2019-12-31	-0.36	-0.31	-0.41	5.00

AMEX:OCX Past Financials Data
Date (Data in USD Millions)	EPS *
2019-03-31	-0.38
2018-12-31	-0.42
2018-09-30	-0.43
2018-06-30	-0.58
2018-03-31	-0.60
2017-12-31	-0.64
2017-09-30	-0.63
2017-06-30	-0.50
2017-03-31	-0.47
2016-12-31	-0.42
2016-09-30	-0.45
2016-06-30	-0.49

*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 OncoCyte will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.

Show me more growth companies in the Biotechs industry

Future performance checks

We assess OncoCyte's future performance by looking at:

Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
Is the annual earnings growth rate expected to be above 20%? (1 check)
Is the annual revenue growth rate expected to be above 20%? (1 check)
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.
OncoCyte 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.

OCX Past Performance

How has OncoCyte 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 OncoCyte'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.

OncoCyte does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
Unable to compare OncoCyte's 1-year earnings growth to the 5-year average as it is not currently profitable.
Unable to compare OncoCyte's 1-year growth to the US Biotechs industry average as it is not currently profitable.

Earnings and Revenue History

OncoCyte'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 OncoCyte Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AMEX:OCX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions)	Revenue	Net Income *	G+A Expenses
2019-03-31	-15.84	8.90	5.77
2018-12-31	-15.75	8.69	5.89
2018-09-30	-15.21	8.23	6.19
2018-06-30	-19.15	11.73	6.50
2018-03-31	-18.45	11.42	6.80
2017-12-31	-19.38	11.68	7.17
2017-09-30	-18.52	10.95	7.10
2017-06-30	-14.21	7.17	6.62
2017-03-31	-12.94	6.92	5.82
2016-12-31	-11.17	5.46	5.68
2016-09-30	-11.60	5.91	5.68
2016-06-30	-11.43	6.00	5.41
2016-03-31	-10.29	5.18	5.10
2015-12-31	-8.74	4.19	4.53
2015-09-30	-6.70	2.45	4.22
2015-06-30	-5.34	1.33	3.99
2015-03-31	-5.14	1.04	4.09
2014-12-31	-4.99	1.01	3.96
2013-12-31	-3.50	0.55	2.94

*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 OncoCyte has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
It is difficult to establish if OncoCyte 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 OncoCyte improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.

Past performance checks

We assess OncoCyte's performance over the past 5 years by checking for:

Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
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.
OncoCyte 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.

OCX Health

How is OncoCyte'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 OncoCyte's finances.

The net worth of a company is the difference between its assets and liabilities.

Net Worth

OncoCyte is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
OncoCyte's cash and other short term assets cover its long term commitments.

Balance sheet

This treemap shows a more detailed breakdown of OncoCyte'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 29.3x 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 OncoCyte Company Filings, last reported 2 months ago.

AMEX:OCX Past Debt and Equity Data
Date (Data in USD Millions)	Total Equity	Total Debt	Cash & Short Term Investments
2019-03-31	38.19	1.40	39.86
2018-12-31	3.42	1.72	8.46
2018-09-30	7.52	2.03	11.65
2018-06-30	6.85	1.98	11.02
2018-03-31	9.02	2.24	13.56
2017-12-31	4.40	2.50	8.36
2017-09-30	8.05	2.60	12.03
2017-06-30	5.64	2.65	9.76
2017-03-31	8.77	2.39	13.00
2016-12-31	9.86	0.51	12.41
2016-09-30	12.68	0.38	15.09
2016-06-30	4.47	0.42	5.62
2016-03-31	6.90	0.00	7.64
2015-12-31	10.42	0.00	10.54
2015-09-30	8.94	3.30	12.01
2015-06-30	2.87	3.30	5.59
2015-03-31	-1.07	0.00	3.54
2014-12-31	-1.07	0.00	3.54
2013-12-31	3.62	0.00	4.73

OncoCyte's level of debt (3.7%) compared to net worth is satisfactory (less than 40%).
The level of debt compared to net worth has increased over the past 5 years (0% vs 3.7% today).

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.

OncoCyte has sufficient cash runway for 2.5 years based on current free cash flow.
OncoCyte has sufficient cash runway for 2.2 years if free cash flow continues to grow at historical rates of 25.4% each year.

Show me more healthy companies in the Biotechs industry

Financial health checks

We assess OncoCyte's financial health by checking for:

Are short term assets greater than short term liabilities? (1 check)
Are short term assets greater than long term liabilities? (1 check)
Has the debt to equity ratio increased in the past 5 years? (1 check)
Is the debt to equity ratio over 40%? (1 check)
Is the debt covered by operating cash flow? (1 check)
Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)

For companies that are loss making and have been so on average in the past we replace the last 2 checks with:

Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
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.

OCX Dividends

What is OncoCyte'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

Current annual income from OncoCyte dividends.

If you bought $2,000 of OncoCyte 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 OncoCyte's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
Unable to evaluate OncoCyte'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

AMEX:OCX 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 5 Analyst Estimates (S&P Global)	See Below
Global Biotechs Industry Average Dividend Yield	Market Cap Weighted Average of 19 Stocks	2.4%
United States of America Market Average Dividend Yield	Market Cap Weighted Average of 2011 Stocks	2.5%
United States of America Minimum Threshold Dividend Yield	10th Percentile	0.8%
United States of America Bottom 25% Dividend Yield	25th Percentile	1.5%
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.

AMEX:OCX 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 OncoCyte has not reported any payouts.
Unable to verify if OncoCyte's dividend has been increasing as the company has not reported any payouts.

Current Payout to shareholders

What portion of OncoCyte's earnings are paid to the shareholders as a dividend.

Unable to calculate sustainability of dividends as OncoCyte 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.

Income/ dividend checks

We assess OncoCyte's dividend by checking for:

Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
Is current dividend yield above the bottom 25% of dividend payers? (1 check)
Is current dividend yield above the top 25% of dividend payers? (1 check)
Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
If they have paid a dividend for 10 years has it increased in this time? (1 check)
How sustainable is the dividend, can OncoCyte afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)

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

OCX Management

What is the CEO of OncoCyte'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

Bill Annett

COMPENSATION	$925,808
AGE	64
TENURE AS CEO	4 years

CEO Bio

Mr. William Annett, also known as Bill, MBA, has been the Chief Executive Officer of OncoCyte Corporation since June 16, 2015 and also serves as its President. Mr. Annett has extensive experience within the biotechnology and diagnostics industry, having held the position of Chief Executive Officer at six organizations as well as having experience in senior management positions at Genentech, Accenture and other companies. Mr. Annett was a Managing Director at Accenture from 2011 to 2014. He served as the Chief Executive Officer of BioFX Laboratories. from 1999 to 2000. In 2001 he founded and led Corra Life Sciences until 2003. He founded Western Canada Water and led it for six years as Chief Executive Officer. At Genentech, from 2003 to 2011 he led the Commercial Strategy group and managed large operational projects with several hundred team members. He directed the Project Finance function for R&D, which supported all development pipeline products with more than 200 clinical trials. He led one of Genentech's largest change initiatives, a $150 million/450 person effort that transformed that organization's commercial systems and business processes. He served as Managing Director of Accenture, where he founded, built and led Accenture's west coast Life Sciences practice, with sales, marketing and delivery responsibility for all lines of business and all clients in the territory. He has been a Director of OncoCyte Corporation since June 2015 and California Life Sciences Association since November 23, 2015. Mr. Annett holds a BA and an MA degrees and an MBA from the Harvard Business School.

CEO Compensation

Bill's compensation has been consistent with company performance over the past year, both up more than 20%.
Bill's remuneration is about average for companies of similar size in United States of America.

Management Team Tenure

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

1.2

Average Tenure

Average Age

The average tenure for the OncoCyte management team is less than 2 years, this suggests a new team.

Management Team

Bill Annett

$329K

AGE

65

TENURE

3.7 yrs

Judith Segall

TITLE

Secretary

AGE

65

Board of Directors Tenure

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

2.8

Average Tenure

Average Age

The average tenure for the OncoCyte board of directors is less than 3 years, this suggests a new board.

2.1 yrs

Who owns this company?

Recent Insider Trading

No 3 month insider trading information.

Recent Insider Transactions

Announced	Type	Name	Entity	Role		Start	End	Shares	Max Price ($)	Value ($)
12. Feb 19	Buy	Broadwood Capital, Inc.	Company			08. Feb 19	08. Feb 19	533,333	$3.75	$1,999,999

Management checks

We assess OncoCyte's management by checking for:

Is the CEO's compensation unreasonable compared to market cap? (1 check)
Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
Is the average tenure of the management team less than 2 years? (1 check)
Is the average tenure of the board of directors team less than 3 years? (1 check)

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.

OCX News

Simply Wall St News

Is OncoCyte Corporation (NYSEMKT:OCX) Expensive For A Reason? A Look At 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. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, 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) $-17.80 $-17.60 $-18.30 $-7.80 $19.00 $21.52 $23.70 $25.57 $27.19 $28.62 Growth Rate Estimate Source Analyst x1 Analyst x1 Analyst x1 Analyst x1 Analyst x1 Est @ 13.27% Est @ 10.11% Est @ 7.9% Est @ 6.35% Est @ 5.26% Present Value ($, Millions) Discounted @ 10.26% $-16.14 $-14.48 $-13.65 $-5.28 $11.66 $11.98 $11.96 $11.71 $11.29 $10.78 Present Value of 10-year Cash Flow (PVCF)= $19.84m "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$29m × (1 + 2.7%) ÷ (10.3% – 2.7%) = US$391m Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = $US$391m ÷ ( 1 + 10.3%)10 = $147.16m The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is $167.00m.

Simply Wall St - 2 weeks ago – Full article

What Percentage Of OncoCyte Corporation (NYSEMKT:OCX) Shares Do Insiders Own?

Every investor in OncoCyte Corporation (NYSEMKT:OCX) should be aware of the most powerful shareholder groups. … With a market capitalization of US$223m, OncoCyte is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for OncoCyte

Simply Wall St - 1 month ago – Full article

Do Insiders Own Shares In OncoCyte Corporation (NYSEMKT:OCX)?

A look at the shareholders of OncoCyte Corporation (NYSEMKT:OCX) can tell us which group is most powerful. … Generally speaking, as a company grows, institutions will increase their ownership. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St - 7 months ago – Full article

Does OncoCyte Corporation's (NYSEMKT:OCX) CEO Pay Compare Well With Peers?

Recognizing whether CEO incentives are aligned with shareholders is a crucial part of investing. … This is because, if incentives are aligned, more value is created for shareholders which directly impacts your returns as an investor. … Annett’s pay and compare this to the company’s performance over the same period, as well as measure it against other

Simply Wall St - 10 months ago – Full article

When Will OncoCyte Corporation (NYSEMKT:OCX) Become Profitable?

The US$116.24m market-cap company’s loss lessens since it announced a -US$19.37m bottom-line in the full financial year, compared to the latest trailing-twelve-month loss of -US$18.45m, as it approaches breakeven? … The most pressing concern for investors is OCX’s path to profitability – when will it breakeven. … I’ve put together a brief outline of industry analyst expectations for OCX, its year of breakeven and its implied growth rate

Simply Wall St - 11 months ago – Full article

OncoCyte Corporation (NYSEMKT:OCX): Is Breakeven Near?

In this article, I will touch on the expectations for OCX’s growth and when analysts expect the company to become profitable. … For a more comprehensive look at OCX, take a look at OCX’s company page on Simply Wall St. … Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity.