Biohaven Ltd. (NYSE: BHVN)

Sector: Healthcare Industry: Biotechnology CIK: 0001935979
P/B -69.61
P/E -1.53
P/S 0.00
Market Cap 1.19 Bn
ROIC (Qtr) -222.62
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 308.66 Mn
Debt/Equity (Qtr) -17.99

About

Biohaven Ltd., a prominent player in the biopharmaceutical industry, is dedicated to the discovery, development, and commercialization of groundbreaking treatments in crucial therapeutic areas such as immunology, neuroscience, and oncology. The company's innovative portfolio of therapeutics is backed by its proven drug development experience and multiple proprietary drug development platforms. Biohaven's operations span across various therapeutic areas, with a primary focus on neurological and neuropsychiatric illnesses. The company's geographical...

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Analysis

Pros

  • Tangible assets of 389.33M provide robust 4.08x coverage of other current liabilities 95.53M, indicating strong asset backing.
  • Cash reserves of 184.85M provide robust 1.64x coverage of current liabilities 113.02M, indicating strong short-term solvency.
  • Retained earnings of (1.94B) represent substantial 112.99x of equity (17.16M), indicating strong internal capital generation.
  • Strong cash position of 184.85M provides 1.93x coverage of other current liabilities 95.53M, indicating excellent liquidity.
  • Cash reserves of 184.85M provide solid 40.22x coverage of other non-current liabilities 4.60M, indicating strong liquidity.

Cons

  • Operating cash flow of (649.52M) barely covers its investment activities of 226.62M, with a coverage ratio of -2.87, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of 226.62M provide weak support for R&D spending of 680.59M, which is 0.33x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (649.52M) shows concerning coverage of stock compensation expenses of 108.10M, with a -6.01 ratio indicating potential earnings quality issues.
  • Free cash flow of (650.27M) provides weak coverage of capital expenditures of 756000, with a -860.15 ratio suggesting additional external financing needs for growth initiatives.
  • Operating cash flow of (649.52M) provides minimal -570.25x coverage of tax expenses of 1.14M, suggesting potential tax planning inefficiencies or unsustainable tax positions.

Peer Comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,349.40 Bn -1,464.17 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 437.43 Bn 6,381.20 87.97 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 116.09 Bn 31.59 9.90 1.83 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 78.10 Bn 17.06 5.48 2.71 Bn
5 ALNY Alnylam Pharmaceuticals, Inc. 55.87 Bn 1,282.42 17.40 3.21 Bn
6 ARGX Argenx Se 52.85 Bn 35.08 27,559.65 -
7 BNTC Benitec Biopharma Inc. 41.75 Bn -998.33 0.00 0.00 Bn
8 INSM INSMED Inc 37.80 Bn -31.93 84.56 0.74 Bn

Industry Comparisons

Current Valuation

Metric Value Industry Percentile
EV to Assets 3.22 12.31
EV to Cash from Ops. -2.03 23.25
EV to Debt 4.26 738.44
EV to EBIT -1.69 -9.16
EV to EBITDA -1.68 6.95
EV to Free Cash Flow [EV/FCF] -2.02 21.90
EV to Market Cap 1.10 65.67
EV to Revenue 0.00 227.32
Price to Book Value [P/B] -69.61 22.34
Price to Earnings [P/E] -1.53 -11.77

Dividend Metrics

Metric Value Industry Percentile
Dividend Coverage Ratio 0.00 -11.94
Dividend Payout Ratio % 0.00 0.16
Dividend per Basic Share 0.00 0.01
FCF Dividend Payout Ratio % 0.00 -0.14
Interest Coverage 0.00 841.00

Growth Metrics

Metric Value Industry Percentile
Capex Growth (1y) % 83.09 -27.13
Cash and Equivalents Growth (1y) % 119.04 734.65
Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % 3.01 -46.93
EBITDA Growth (1y) % 6.99 -1.68
EBIT Growth (1y) % 3.22 -56.45
EBT Growth (1y) % 3.22 -12.70
EPS Growth (1y) % 19.98 -28.31
FCF Growth (1y) % -22.45 -31.90
Gross Profit Growth (1y) % 0.00 226.84

Liquidity Ratios

Metric Value Industry Percentile
Asset Utilization Ratio 0.00 0.14
Cash Payout Ratio 0.00 0.00
Cash Ratio 1.64 3.85
Current Ratio 2.86 7.27
Debt to Equity Ratio -17.99 0.40
Interest Cover Ratio 0.00 841.00
Times Interest Earned 0.00 841.00

Profitability

Metric Value Industry Percentile
EBITDA Margin % 0.00 -18,234.31
EBIT Margin % 0.00 -18,580.80
EBT Margin % 0.00 -19,488.74
Gross Margin % 0.00 -7.59
Net Profit Margin % 0.00 -19,439.22