BridgeBio Pharma, Inc. (NASDAQ: BBIO)

Sector: Healthcare Industry: Biotechnology CIK: 0001743881
Market Cap 14.01 Bn
P/B -7.25
P/E -17.58
P/S 39.60
ROIC (Qtr) 42,784.79
Div Yield % 0.00
Rev 1y % (Qtr) 4,318.01
Total Debt (Qtr) 1.86 Bn
Debt/Equity (Qtr) -0.96

About

BridgeBio Pharma, Inc., a biopharmaceutical company established in 2015, is dedicated to discovering, developing, and delivering transformative medicines to treat patients with genetic diseases and cancers driven by clear genetic factors. The company has made significant strides, creating 17 Investigational New Drug (IND) applications and obtaining approval for two products from the U.S. Food and Drug Administration (FDA). BridgeBio Pharma's operations span various countries and regions, focusing on the development of innovative treatments for...

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Price action

Investment thesis

Bull case

  • Healthy cash reserves of 642.95M provide 121.45x coverage of short-term debt 5.29M, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of (584.82M) provides exceptional 68.21x coverage of minority interest expenses (8.57M), showing strong core operations.
  • Tangible assets of 969.46M provide exceptional 43.63x coverage of deferred revenue 22.22M, showing strong service capability backing.
  • Tangible assets of 969.46M provide robust 5.03x coverage of other current liabilities 192.60M, indicating strong asset backing.
  • Cash reserves of 642.95M provide robust 2.97x coverage of current liabilities 216.60M, indicating strong short-term solvency.

Bear case

  • Investment activities of (13.37M) provide weak support for R&D spending of 465.89M, which is -0.03x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (584.82M) provides insufficient coverage of deferred revenue obligations of 22.22M, which is -26.32x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (584.82M) shows concerning coverage of stock compensation expenses of 128.51M, with a -4.55 ratio indicating potential earnings quality issues.
  • High receivables of 116.52M relative to inventory of 24.53M (4.75 ratio) suggests aggressive credit terms or collection difficulties, potentially masking revenue quality issues.
  • Free cash flow of (585.93M) provides weak coverage of capital expenditures of 1.11M, with a -527.39 ratio suggesting additional external financing needs for growth initiatives.

Collaborative Arrangement and Arrangement Other than Collaborative Breakdown of Revenue (2024)

Segments 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 15.15 12.96
EV to Cash from Ops. EV/CFO -25.85 23.73
EV to Debt EV to Debt 8.13 772.65
EV to EBIT EV/EBIT -22.43 -11.30
EV to EBITDA EV/EBITDA -25.20 7.11
EV to Free Cash Flow [EV/FCF] EV/FCF -25.80 22.12
EV to Market Cap EV to Market Cap 1.08 68.89
EV to Revenue EV/Rev 42.74 199.70
Price to Book Value [P/B] P/B -7.25 22.62
Price to Earnings [P/E] P/E -17.58 -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) -5.56 857.11
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 15.90 -27.24
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 58.47 747.06
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -93.49 -48.21
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -12.39 -2.09
EBIT Growth (1y) % EBIT 1y % (Qtr) -93.08 -57.79
EBT Growth (1y) % EBT 1y % (Qtr) -81.24 -14.35
EPS Growth (1y) % EPS 1y % (Qtr) -74.27 -30.88
FCF Growth (1y) % FCF 1y % (Qtr) -29.76 -32.51
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 57.33 227.96
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.35 0.14
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 2.97 3.79
Current Ratio Curr Ratio (Qtr) 3.88 7.23
Debt to Equity Ratio Debt/Equity (Qtr) -0.96 0.42
Interest Cover Ratio Int Coverage (Qtr) -5.56 857.11
Times Interest Earned Times Interest Earned (Qtr) -5.56 857.11
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -187.80 -18,509.94
EBIT Margin % EBIT Margin % (Qtr) -190.53 -18,862.18
EBT Margin % EBT Margin % (Qtr) -224.83 -19,783.19
Gross Margin % Gross Margin % (Qtr) 95.80 -8.62
Net Profit Margin % Net Margin % (Qtr) -225.30 -19,732.60