Autolus Therapeutics plc (NASDAQ: AUTL)

Sector: Healthcare Industry: Biotechnology CIK: 0001730463
Market Cap 517.32 Mn
P/B 1.95
P/E -2.30
P/S 10.12
ROIC (Qtr) -44.01
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 325.18 Mn
Debt/Equity (Qtr) 1.23

About

Autolus Therapeutics plc, a biopharmaceutical company with the ticker symbol AUTL, operates in the healthcare industry, specifically focusing on developing next-generation programmed T cell therapies for the treatment of cancer and autoimmune diseases. Autolus' main business activities revolve around the development of T cell programming technologies, which enable the engineering of T cells to recognize and target specific cancer cells or autoimmune disease targets. The company generates revenue through the development and commercialization of...

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Price action

Investment thesis

Bull case

  • Healthy cash reserves of 87.62M provide 7.17x coverage of short-term debt 12.23M, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of (254.18M) provides exceptional 14.95x coverage of interest expenses (17M), showing strong debt service capability.
  • Tangible assets of 641.66M provide exceptional 84.30x coverage of deferred revenue 7.61M, showing strong service capability backing.
  • Operating cash flow of (254.18M) fully covers other non-current liabilities (7.14M) by 35.60x, showing strong long-term stability.
  • Operating cash flow of (254.18M) provides strong 1171.33x coverage of operating expenses (217000), showing operational efficiency.

Bear case

  • Operating cash flow of (254.18M) barely covers its investment activities of (311.67M), with a coverage ratio of 0.82, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (311.67M) provide weak support for R&D spending of 112.89M, which is -2.76x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (254.18M) provides insufficient coverage of deferred revenue obligations of 7.61M, which is -33.39x, raising concerns about future service delivery capabilities.
  • Short-term investments of 281.29M significantly exceed cash reserves of 87.62M, which is 3.21x, indicating potentially excessive yield-seeking behavior at the expense of liquidity.
  • The company's operating cash flow of (254.18M) shows concerning coverage of stock compensation expenses of 17.23M, with a -14.75 ratio indicating potential earnings quality issues.

Product and Service Breakdown of Revenue (2024)

Product and Service Breakdown of Revenue (2024)

Peer comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,446.17 Bn -1,569.17 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 439.23 Bn 6,407.40 88.33 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 120.62 Bn 32.82 10.29 1.83 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 84.40 Bn 18.44 5.92 2.71 Bn
5 ALNY Alnylam Pharmaceuticals, Inc. 56.13 Bn 1,288.39 17.49 3.21 Bn
6 ARGX Argenx Se 47.89 Bn 31.79 24,973.95 -
7 BNTC Benitec Biopharma Inc. 42.45 Bn -1,015.00 0.00 0.00 Bn
8 INSM INSMED Inc 32.67 Bn -27.60 73.08 0.74 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 1.07 12.96
EV to Cash from Ops. EV/CFO -2.78 23.73
EV to Debt EV to Debt 2.17 772.65
EV to EBIT EV/EBIT -2.98 -11.30
EV to EBITDA EV/EBITDA -2.72 7.11
EV to Free Cash Flow [EV/FCF] EV/FCF -2.48 22.12
EV to Market Cap EV to Market Cap 1.37 68.89
EV to Revenue EV/Rev 13.83 199.70
Price to Book Value [P/B] P/B 1.95 22.62
Price to Earnings [P/E] P/E -2.30 -12.30
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -12.02
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.17
Dividend per Basic Share Div per Share (Qtr) 0.00 0.01
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 -0.15
Interest Coverage Int. cover (Qtr) 13.95 857.11
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -149.52 -27.24
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -86.69 747.06
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -21.10 -48.21
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -26.06 -2.09
EBIT Growth (1y) % EBIT 1y % (Qtr) -18.64 -57.79
EBT Growth (1y) % EBT 1y % (Qtr) 18.51 -14.35
EPS Growth (1y) % EPS 1y % (Qtr) 31.97 -30.88
FCF Growth (1y) % FCF 1y % (Qtr) -38.72 -32.51
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -410.16 227.96
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.08 0.14
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 1.05 3.79
Current Ratio Curr Ratio (Qtr) 6.19 7.23
Debt to Equity Ratio Debt/Equity (Qtr) 1.23 0.42
Interest Cover Ratio Int Coverage (Qtr) 13.95 857.11
Times Interest Earned Times Interest Earned (Qtr) 13.95 857.11
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -438.00 -18,509.94
EBIT Margin % EBIT Margin % (Qtr) -463.91 -18,862.18
EBT Margin % EBT Margin % (Qtr) -430.66 -19,783.19
Gross Margin % Gross Margin % (Qtr) -61.20 -8.62
Net Profit Margin % Net Margin % (Qtr) -439.70 -19,732.60