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ZEALAND PHARMA A/S (22Z.DE) Stock Fundamental Analysis

Europe - FRA:22Z - DK0060257814 - Common Stock

55.96 EUR
-4.38 (-7.26%)
Last: 9/15/2025, 7:00:00 PM
Fundamental Rating

6

Overall 22Z gets a fundamental rating of 6 out of 10. We evaluated 22Z against 75 industry peers in the Biotechnology industry. 22Z is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. 22Z has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

22Z had positive earnings in the past year.
22Z had a positive operating cash flow in the past year.
In the past 5 years 22Z always reported negative net income.
22Z had a negative operating cash flow in each of the past 5 years.
22Z.DE Yearly Net Income VS EBIT VS OCF VS FCF22Z.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M -1B

1.2 Ratios

Looking at the Return On Assets, with a value of 38.89%, 22Z belongs to the top of the industry, outperforming 98.67% of the companies in the same industry.
With an excellent Return On Equity value of 42.80%, 22Z belongs to the best of the industry, outperforming 97.33% of the companies in the same industry.
22Z has a better Return On Invested Capital (32.36%) than 100.00% of its industry peers.
Industry RankSector Rank
ROA 38.89%
ROE 42.8%
ROIC 32.36%
ROA(3y)-41.65%
ROA(5y)-44.45%
ROE(3y)-68.01%
ROE(5y)-76.53%
ROIC(3y)N/A
ROIC(5y)N/A
22Z.DE Yearly ROA, ROE, ROIC22Z.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100

1.3 Margins

22Z has a better Profit Margin (73.34%) than 97.33% of its industry peers.
With an excellent Operating Margin value of 81.00%, 22Z belongs to the best of the industry, outperforming 98.67% of the companies in the same industry.
22Z has a better Gross Margin (100.06%) than 96.00% of its industry peers.
22Z's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 81%
PM (TTM) 73.34%
GM 100.06%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.92%
GM growth 5Y-2.45%
22Z.DE Yearly Profit, Operating, Gross Margins22Z.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1K -1K -2K

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9

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), 22Z is creating value.
The number of shares outstanding for 22Z has been increased compared to 1 year ago.
22Z has more shares outstanding than it did 5 years ago.
22Z has a better debt/assets ratio than last year.
22Z.DE Yearly Shares Outstanding22Z.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
22Z.DE Yearly Total Debt VS Total Assets22Z.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

An Altman-Z score of 10.48 indicates that 22Z is not in any danger for bankruptcy at the moment.
22Z's Altman-Z score of 10.48 is amongst the best of the industry. 22Z outperforms 85.33% of its industry peers.
22Z has a debt to FCF ratio of 0.05. This is a very positive value and a sign of high solvency as it would only need 0.05 years to pay back of all of its debts.
22Z's Debt to FCF ratio of 0.05 is amongst the best of the industry. 22Z outperforms 96.00% of its industry peers.
22Z has a Debt/Equity ratio of 0.02. This is a healthy value indicating a solid balance between debt and equity.
With a decent Debt to Equity ratio value of 0.02, 22Z is doing good in the industry, outperforming 70.67% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF 0.05
Altman-Z 10.48
ROIC/WACC4.66
WACC6.95%
22Z.DE Yearly LT Debt VS Equity VS FCF22Z.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B

2.3 Liquidity

22Z has a Current Ratio of 15.09. This indicates that 22Z is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 15.09, 22Z belongs to the top of the industry, outperforming 94.67% of the companies in the same industry.
22Z has a Quick Ratio of 15.08. This indicates that 22Z is financially healthy and has no problem in meeting its short term obligations.
With an excellent Quick ratio value of 15.08, 22Z belongs to the best of the industry, outperforming 94.67% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 15.09
Quick Ratio 15.08
22Z.DE Yearly Current Assets VS Current Liabilites22Z.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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6

3. Growth

3.1 Past

22Z shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 921.54%, which is quite impressive.
The Revenue has grown by 2375.69% in the past year. This is a very strong growth!
Measured over the past years, 22Z shows a quite strong growth in Revenue. The Revenue has been growing by 8.69% on average per year.
EPS 1Y (TTM)921.54%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%2404.28%
Revenue 1Y (TTM)2375.69%
Revenue growth 3Y-16.72%
Revenue growth 5Y8.69%
Sales Q2Q%26527.65%

3.2 Future

22Z is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -6.97% yearly.
22Z is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 108.16% yearly.
EPS Next Y659.55%
EPS Next 2Y80.32%
EPS Next 3Y15.4%
EPS Next 5Y-6.97%
Revenue Next Year11606.2%
Revenue Next 2Y673.65%
Revenue Next 3Y251.42%
Revenue Next 5Y108.16%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
22Z.DE Yearly Revenue VS Estimates22Z.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2B 4B 6B 8B
22Z.DE Yearly EPS VS Estimates22Z.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 20 -20 40 60 80

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6

4. Valuation

4.1 Price/Earnings Ratio

22Z is valuated cheaply with a Price/Earnings ratio of 4.40.
Based on the Price/Earnings ratio, 22Z is valued cheaply inside the industry as 96.00% of the companies are valued more expensively.
22Z is valuated cheaply when we compare the Price/Earnings ratio to 27.27, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 20.51, 22Z is valued on the expensive side.
Based on the Price/Forward Earnings ratio, 22Z is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
22Z is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.77, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 4.4
Fwd PE 20.51
22Z.DE Price Earnings VS Forward Price Earnings22Z.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, 22Z is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 2.56
EV/EBITDA -0.84
22Z.DE Per share data22Z.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
22Z's earnings are expected to grow with 15.40% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.01
PEG (5Y)N/A
EPS Next 2Y80.32%
EPS Next 3Y15.4%

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0

5. Dividend

5.1 Amount

22Z does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ZEALAND PHARMA A/S

FRA:22Z (9/15/2025, 7:00:00 PM)

55.96

-4.38 (-7.26%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)08-14 2025-08-14/bmo
Earnings (Next)11-13 2025-11-13/bmo
Inst Owners53.76%
Inst Owner ChangeN/A
Ins Owners0.33%
Ins Owner ChangeN/A
Market Cap2.58B
Analysts85.22
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr YearsN/A
Div Non Decr YearsN/A
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-314.33%
Min EPS beat(2)-623.11%
Max EPS beat(2)-5.54%
EPS beat(4)1
Avg EPS beat(4)-152.35%
Min EPS beat(4)-623.11%
Max EPS beat(4)23.23%
EPS beat(8)3
Avg EPS beat(8)-58.82%
EPS beat(12)5
Avg EPS beat(12)-38.11%
EPS beat(16)7
Avg EPS beat(16)-28.16%
Revenue beat(2)0
Avg Revenue beat(2)-39.07%
Min Revenue beat(2)-74.61%
Max Revenue beat(2)-3.53%
Revenue beat(4)0
Avg Revenue beat(4)-58.45%
Min Revenue beat(4)-92.1%
Max Revenue beat(4)-3.53%
Revenue beat(8)4
Avg Revenue beat(8)65%
Revenue beat(12)6
Avg Revenue beat(12)54.69%
Revenue beat(16)6
Avg Revenue beat(16)27.38%
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
Industry RankSector Rank
PE 4.4
Fwd PE 20.51
P/S 2.11
P/FCF 2.56
P/OCF 2.55
P/B 1.23
P/tB 1.24
EV/EBITDA -0.84
EPS(TTM)12.72
EY22.73%
EPS(NY)2.73
Fwd EY4.87%
FCF(TTM)21.85
FCFY39.05%
OCF(TTM)21.91
OCFY39.15%
SpS26.46
BVpS45.34
TBVpS45.3
PEG (NY)0.01
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 38.89%
ROE 42.8%
ROCE 45.97%
ROIC 32.36%
ROICexc N/A
ROICexgc N/A
OM 81%
PM (TTM) 73.34%
GM 100.06%
FCFM 82.59%
ROA(3y)-41.65%
ROA(5y)-44.45%
ROE(3y)-68.01%
ROE(5y)-76.53%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.92%
GM growth 5Y-2.45%
F-Score8
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF 0.05
Debt/EBITDA 0.05
Cap/Depr 77.22%
Cap/Sales 0.21%
Interest Coverage 405.42
Cash Conversion 101.88%
Profit Quality 112.62%
Current Ratio 15.09
Quick Ratio 15.08
Altman-Z 10.48
F-Score8
WACC6.95%
ROIC/WACC4.66
Cap/Depr(3y)51.82%
Cap/Depr(5y)53.82%
Cap/Sales(3y)13.05%
Cap/Sales(5y)14.52%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)921.54%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%2404.28%
EPS Next Y659.55%
EPS Next 2Y80.32%
EPS Next 3Y15.4%
EPS Next 5Y-6.97%
Revenue 1Y (TTM)2375.69%
Revenue growth 3Y-16.72%
Revenue growth 5Y8.69%
Sales Q2Q%26527.65%
Revenue Next Year11606.2%
Revenue Next 2Y673.65%
Revenue Next 3Y251.42%
Revenue Next 5Y108.16%
EBIT growth 1Y1123.86%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year150.35%
EBIT Next 3Y29.34%
EBIT Next 5Y21.86%
FCF growth 1Y1062.84%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y1078.6%
OCF growth 3YN/A
OCF growth 5YN/A