Inhibrx Biosciences, Inc. (NASDAQ: INBX)

Sector: Healthcare Industry: Biotechnology CIK: 0002007919
Market Cap 975.12 Mn
P/B 26.48
P/E -6.29
P/S 696.52
ROIC (Qtr) -96.55
Div Yield % 0.00
Rev 1y % (Qtr) 0.00
Total Debt (Qtr) 106.91 Mn
Debt/Equity (Qtr) 2.90

About

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 153.09M provide 68.13x coverage of short-term debt 2.25M, demonstrating strong liquidity position and minimal refinancing risk.
  • Tangible assets of 177.47M provide robust 6.58x coverage of other current liabilities 26.96M, indicating strong asset backing.
  • Cash reserves of 153.09M provide robust 4.25x coverage of current liabilities 35.98M, indicating strong short-term solvency.
  • Strong cash position of 153.09M provides 5.68x coverage of other current liabilities 26.96M, indicating excellent liquidity.
  • Cash position of 153.09M represents healthy 1.22x of working capital 125.44M, demonstrating strong operational liquidity.

Bear case

  • Investment activities of (44000) provide weak support for R&D spending of 121.05M, which is -0x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of (143.39M) shows concerning coverage of stock compensation expenses of 11.38M, with a -12.60 ratio indicating potential earnings quality issues.
  • Free cash flow of (143.44M) provides weak coverage of capital expenditures of 44000, with a -3259.91 ratio suggesting additional external financing needs for growth initiatives.
  • Operating cash flow of (143.39M) provides minimal -71696x coverage of tax expenses of 2000, suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • Operating earnings of (146.07M) show weak coverage of depreciation charges of 4.41M, with a -33.11 ratio indicating high capital intensity and potential reinvestment needs.

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 5.05 12.96
EV to Cash from Ops. EV/CFO -6.24 23.73
EV to Debt EV to Debt 8.38 772.65
EV to EBIT EV/EBIT -6.13 -11.30
EV to EBITDA EV/EBITDA -5.98 7.11
EV to Free Cash Flow [EV/FCF] EV/FCF -6.24 22.12
EV to Market Cap EV to Market Cap 0.92 68.89
EV to Revenue EV/Rev 639.53 199.70
Price to Book Value [P/B] P/B 26.48 22.62
Price to Earnings [P/E] P/E -6.29 -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) -16.21 857.11
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 99.27 -27.24
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -22.03 747.06
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -108.78 -48.21
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 59.12 -2.09
EBIT Growth (1y) % EBIT 1y % (Qtr) -108.78 -57.79
EBT Growth (1y) % EBT 1y % (Qtr) -109.45 -14.35
EPS Growth (1y) % EPS 1y % (Qtr) -110.76 -30.88
FCF Growth (1y) % FCF 1y % (Qtr) 32.83 -32.51
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -19.26 227.96
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.01 0.14
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 4.25 3.79
Current Ratio Curr Ratio (Qtr) 4.49 7.23
Debt to Equity Ratio Debt/Equity (Qtr) 2.90 0.42
Interest Cover Ratio Int Coverage (Qtr) -16.21 857.11
Times Interest Earned Times Interest Earned (Qtr) -16.21 857.11
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -10,118.60 -18,509.94
EBIT Margin % EBIT Margin % (Qtr) -10,433.79 -18,862.18
EBT Margin % EBT Margin % (Qtr) -11,077.43 -19,783.19
Gross Margin % Gross Margin % (Qtr) 100.00 -8.62
Net Profit Margin % Net Margin % (Qtr) -11,077.60 -19,732.60