BioAge Labs, Inc. (NASDAQ: BIOA)

Sector: Healthcare Industry: Drug Manufacturers - Specialty & Generic CIK: 0001709941
Market Cap 707.07 Mn
P/B 2.55
P/E -9.33
P/S 119.50
ROIC (Qtr) -30.51
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 7.13 Mn
Debt/Equity (Qtr) 0.03
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About

Investment thesis

Bull case

  • Healthy cash reserves of 215.57M provide 45.81x coverage of short-term debt 4.71M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 305.09M provides 42.77x coverage of total debt 7.13M, indicating robust asset backing and low credit risk.
  • Tangible assets of 305.09M provide exceptional 37.84x coverage of deferred revenue 8.06M, showing strong service capability backing.
  • Operating cash flow of (58.51M) fully covers other non-current liabilities (7.36M) by 7.95x, showing strong long-term stability.
  • Short-term investments of 70.20M provide solid 4.75x coverage of other current liabilities 14.77M, indicating strong liquidity.

Bear case

  • Operating cash flow of (58.51M) barely covers its investment activities of (80.81M), with a coverage ratio of 0.72, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (80.81M) provide weak support for R&D spending of 68.69M, which is -1.18x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (58.51M) provides insufficient coverage of deferred revenue obligations of 8.06M, which is -7.26x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (58.51M) shows concerning coverage of stock compensation expenses of 11.69M, with a -5.01 ratio indicating potential earnings quality issues.
  • Free cash flow of (59.15M) provides weak coverage of capital expenditures of 633000, with a -93.44 ratio suggesting additional external financing needs for growth initiatives.

Peer comparison

Companies in the Drug Manufacturers - Specialty & Generic
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 ZTS Zoetis Inc. 59.62 Bn 29.27 7.67 9.24 Bn
2 TAK Takeda Pharmaceutical Co Ltd 57.33 Bn 79.02 2.00 36.56 Bn
3 HLN Haleon plc 51.85 Bn 33.06 3.83 -
4 TEVA Teva Pharmaceutical Industries Ltd 39.45 Bn 27.98 2.29 17.09 Bn
5 UTHR UNITED THERAPEUTICS Corp 21.54 Bn 16.94 6.89 0.00 Bn
6 RGC Regencell Bioscience Holdings Ltd 16.16 Bn -4,510.00 0.00 -
7 ELAN Elanco Animal Health Inc 12.79 Bn 355.14 2.78 4.32 Bn
8 NBIX Neurocrine Biosciences Inc 12.71 Bn 26.56 4.44 0.42 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 1.62 38.12
EV to Cash from Ops. EV/CFO -8.47 -121.97
EV to Debt EV to Debt 69.46 403.43
EV to EBIT EV/EBIT -6.62 -55.05
EV to EBITDA EV/EBITDA -5.54 -57.64
EV to Free Cash Flow [EV/FCF] EV/FCF -8.38 -65.56
EV to Market Cap EV to Market Cap 0.70 -4.24
EV to Revenue EV/Rev 83.74 -1,205.44
Price to Book Value [P/B] P/B 2.55 43.48
Price to Earnings [P/E] P/E -9.33 -46.00
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 0.36
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.52
Dividend per Basic Share Div per Share (Qtr) 0.00 0.07
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 4.04
Interest Coverage Int. cover (Qtr) -81.02 -46.13
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -86.18 -154.90
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -35.55 86,151.29
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 2.89
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -12.87 31.16
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -34.93 9.88
EBIT Growth (1y) % EBIT 1y % (Qtr) -12.87 91.77
EBT Growth (1y) % EBT 1y % (Qtr) -6.84 90.13
EPS Growth (1y) % EPS 1y % (Qtr) 138.96 -12.06
FCF Growth (1y) % FCF 1y % (Qtr) -7.10 -224.48
Gross Profit Growth (1y) % Gross Profit Growth (1y) % 0.00 26.23
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.02 0.49
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.02
Cash Ratio Cash Ratio (Qtr) 8.80 2.12
Current Ratio Curr Ratio (Qtr) 11.87 3.92
Debt to Equity Ratio Debt/Equity (Qtr) 0.03 -1.15
Interest Cover Ratio Int Coverage (Qtr) -81.02 -46.13
Times Interest Earned Times Interest Earned (Qtr) -81.02 -46.13
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -1,260.10 -59,714.97
EBIT Margin % EBIT Margin % (Qtr) -1,265.29 -60,539.44
EBT Margin % EBT Margin % (Qtr) -1,280.90 -64,118.78
Gross Margin % Gross Margin % (Qtr) 100.00 8,658.69
Net Profit Margin % Net Margin % (Qtr) -1,280.90 -64,120.53