Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM Revenue Multiple | 4.9x - 5.5x | 5.2x |
| Selected Fwd Revenue Multiple | 4.3x - 4.7x | 4.5x |
| Fair Value | €46.58 - €52.58 | €49.58 |
| Upside | -9.5% - 2.1% | -3.7% |
| Benchmarks | Ticker | Full Ticker |
|---|---|---|
| ALK-Abelló A/S | ALK B | CPSE:ALKB |
| Faes Farma, S.A. | FAE | BME:FAE |
| Teva Pharmaceutical Industries Limited | TEV | DB:TEV |
| Cosmo Pharmaceuticals N.V. | COPN | SWX:COPN |
| Virbac SA | VIRP | ENXTPA:VIRP |
| Recordati Industria Chimica e Farmaceutica S.p.A. | 0KBS | LSE:0KBS |
| Select LTM Revenue Multiple | ||||||||
| Benchmark Companies | ||||||||
| ALK B | FAE | TEV | COPN | VIRP | 0KBS | |||
| CPSE:ALKB | BME:FAE | DB:TEV | SWX:COPN | ENXTPA:VIRP | LSE:0KBS | |||
| Historical Revenue Growth | ||||||||
| 5Y CAGR | 11.1% | 5.9% | -0.4% | 33.7% | 8.3% | 9.6% | ||
| 3Y CAGR | 12.2% | 6.0% | 1.4% | 60.0% | 9.5% | 14.0% | ||
| Latest Twelve Months | 14.8% | 7.8% | 4.4% | 187.5% | 12.1% | 12.4% | ||
| Historical EBIT Profit Margin | ||||||||
| 5 Year Average Margin | 10.0% | 22.2% | 18.8% | 19.6% | 14.9% | 30.9% | ||
| Prior Fiscal Year | 13.8% | 21.7% | 20.1% | -2.0% | 14.9% | 30.1% | ||
| Latest Fiscal Year | 19.8% | 21.0% | 20.4% | 55.8% | 16.2% | 29.8% | ||
| Latest Twelve Months | 19.8% | 21.0% | 20.4% | 55.8% | 16.2% | 29.8% | ||
| Current Trading Multiples | ||||||||
| EV / LTM Revenue | 5.80x | 2.45x | 1.95x | 2.81x | 1.95x | 5.45x | ||
| EV / LTM EBIT | 29.3x | 11.7x | 9.6x | 5.0x | 12.0x | 18.3x | ||
| Price / LTM Sales | 5.69x | 2.49x | 1.03x | 3.43x | 1.84x | 4.52x | ||
| Low | Mid | High | ||||||
| Benchmark EV / LTM Revenue | 1.95x | 2.45x | 5.80x | |||||
| Historical EV / LTM Revenue | 5.18x | 5.69x | 8.20x | |||||
| Selected EV / LTM Revenue | 4.93x | 5.19x | 5.45x | |||||
| (x) LTM Revenue | 2,342 | 2,342 | 2,342 | |||||
| (=) Implied Enterprise Value | 11,551 | 12,159 | 12,767 | |||||
| (-) Non-shareholder Claims * | (2,150) | (2,150) | (2,150) | |||||
| (=) Equity Value | 9,400 | 10,008 | 10,616 | |||||
| (/) Shares Outstanding | 206.3 | 206.3 | 206.3 | |||||
| Implied Value Range | 45.57 | 48.51 | 51.46 | |||||
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | Market Price | ||||
| Implied Value Range (Trading Cur) | 45.57 | 48.51 | 51.46 | 51.50 | ||||
| Upside / (Downside) | -11.5% | -5.8% | -0.1% | |||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | ALK B | FAE | TEV | COPN | VIRP | 0KBS | |
| Enterprise Value | 32,095 | 1,270 | 32,319 | 755 | 2,720 | 12,775 | |
| (+) Cash & Short Term Investments | 589 | 0 | 3,300 | 143 | 154 | 322 | |
| (+) Investments & Other | 0 | 0 | 0 | 32 | 6 | 17 | |
| (-) Debt | (1,187) | 0 | (18,184) | (2) | (313) | (2,490) | |
| (-) Other Liabilities | 0 | 0 | (347) | (7) | (0) | 0 | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 31,497 | 1,270 | 17,088 | 921 | 2,567 | 10,624 | |
| (/) Shares Outstanding | 221.2 | 311.2 | 1,145.8 | 16.0 | 8.4 | 206.3 | |
| Implied Stock Price | 142.40 | 4.08 | 14.91 | 57.51 | 306.50 | 51.50 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.10 | 1.06 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 142.40 | 4.08 | 13.55 | 54.10 | 306.50 | 51.50 | |
| Trading Currency | DKK | EUR | EUR | CHF | EUR | EUR | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.10 | 1.06 | 1.00 | 1.00 | |