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MorphoSys AG (MOR) Stock Fundamental Analysis

NASDAQ:MOR - Nasdaq - US6177602025 - ADR - Currency: USD

18.96  +0.45 (+2.43%)

After market: 18.96 0 (0%)

Fundamental Rating

2

We assign a fundamental rating of 2 out of 10 to MOR. MOR was compared to 560 industry peers in the Biotechnology industry. MOR has a bad profitability rating. Also its financial health evaluation is rather negative. MOR is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year MOR has reported negative net income.
In the past year MOR has reported a negative cash flow from operations.
In the past 5 years MOR reported 4 times negative net income.
In the past 5 years MOR reported 4 times negative operating cash flow.
MOR Yearly Net Income VS EBIT VS OCF VS FCFMOR 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 0 -200M -400M

1.2 Ratios

The Return On Assets of MOR (-25.13%) is better than 75.44% of its industry peers.
Industry RankSector Rank
ROA -25.13%
ROE N/A
ROIC N/A
ROA(3y)-11.93%
ROA(5y)-10.13%
ROE(3y)-230.96%
ROE(5y)-140.65%
ROIC(3y)N/A
ROIC(5y)N/A
MOR Yearly ROA, ROE, ROICMOR Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -100 -200 -300

1.3 Margins

MOR has a better Gross Margin (83.89%) than 88.68% of its industry peers.
In the last couple of years the Gross Margin of MOR has declined.
MOR does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 83.89%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-5.84%
GM growth 5Y-4.24%
MOR Yearly Profit, Operating, Gross MarginsMOR Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -100 -200

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2

2. Health

2.1 Basic Checks

MOR does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, MOR has more shares outstanding
MOR has more shares outstanding than it did 5 years ago.
The debt/assets ratio for MOR has been reduced compared to a year ago.
MOR Yearly Shares OutstandingMOR Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M
MOR Yearly Total Debt VS Total AssetsMOR Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B 2.5B

2.2 Solvency

Based on the Altman-Z score of -0.83, we must say that MOR is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of MOR (-0.83) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF N/A
Altman-Z -0.83
ROIC/WACCN/A
WACC6.75%
MOR Yearly LT Debt VS Equity VS FCFMOR Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M -200M 400M -400M 600M

2.3 Liquidity

MOR has a Current Ratio of 1.38. This is a normal value and indicates that MOR is financially healthy and should not expect problems in meeting its short term obligations.
With a Current ratio value of 1.38, MOR is not doing good in the industry: 83.62% of the companies in the same industry are doing better.
A Quick Ratio of 1.38 indicates that MOR should not have too much problems paying its short term obligations.
The Quick ratio of MOR (1.38) is worse than 81.71% of its industry peers.
Industry RankSector Rank
Current Ratio 1.38
Quick Ratio 1.38
MOR Yearly Current Assets VS Current LiabilitesMOR Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

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6

3. Growth

3.1 Past

MOR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -160.42%.
The Revenue for MOR has decreased by -31.97% in the past year. This is quite bad
Measured over the past years, MOR shows a very strong growth in Revenue. The Revenue has been growing by 25.53% on average per year.
EPS 1Y (TTM)-160.42%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-518.18%
Revenue 1Y (TTM)-31.97%
Revenue growth 3Y-10.08%
Revenue growth 5Y25.53%
Sales Q2Q%-55.81%

3.2 Future

Based on estimates for the next years, MOR will show a very strong growth in Earnings Per Share. The EPS will grow by 23.09% on average per year.
The Revenue is expected to grow by 33.46% on average over the next years. This is a very strong growth
EPS Next Y20.86%
EPS Next 2Y18.1%
EPS Next 3Y21.29%
EPS Next 5Y23.09%
Revenue Next Year-3.33%
Revenue Next 2Y12.61%
Revenue Next 3Y22.79%
Revenue Next 5Y33.46%

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
MOR Yearly Revenue VS EstimatesMOR Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 200M 400M 600M 800M 1B
MOR Yearly EPS VS EstimatesMOR Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 1 -1 -2 -3

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1

4. Valuation

4.1 Price/Earnings Ratio

MOR reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year MOR is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
MOR Price Earnings VS Forward Price EarningsMOR Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40 60

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
MOR Per share dataMOR EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 -2 -4 -6 -8 -10

4.3 Compensation for Growth

A more expensive valuation may be justified as MOR's earnings are expected to grow with 21.29% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y18.1%
EPS Next 3Y21.29%

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0

5. Dividend

5.1 Amount

No dividends for MOR!.
Industry RankSector Rank
Dividend Yield N/A

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MorphoSys AG

NASDAQ:MOR (8/2/2024, 8:20:34 PM)

After market: 18.96 0 (0%)

18.96

+0.45 (+2.43%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)04-29 2024-04-29/amc
Earnings (Next)08-29 2024-08-29/amc
Inst Owners1.03%
Inst Owner Change-100%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap2.86B
Analysts70
Price Target5.06 (-73.31%)
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 Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-57555.5%
Min EPS beat(2)-115317%
Max EPS beat(2)206.19%
EPS beat(4)2
Avg EPS beat(4)-28776.9%
Min EPS beat(4)-115317%
Max EPS beat(4)206.19%
EPS beat(8)4
Avg EPS beat(8)-14366.3%
EPS beat(12)6
Avg EPS beat(12)-9590.79%
EPS beat(16)8
Avg EPS beat(16)-7188.44%
Revenue beat(2)0
Avg Revenue beat(2)-26.57%
Min Revenue beat(2)-49.34%
Max Revenue beat(2)-3.8%
Revenue beat(4)0
Avg Revenue beat(4)-15.03%
Min Revenue beat(4)-49.34%
Max Revenue beat(4)-2.92%
Revenue beat(8)4
Avg Revenue beat(8)2.63%
Revenue beat(12)7
Avg Revenue beat(12)3.04%
Revenue beat(16)11
Avg Revenue beat(16)8.21%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)3.95%
EPS NQ rev (3m)2.22%
EPS NY rev (1m)8.07%
EPS NY rev (3m)-24.79%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.71%
Revenue NY rev (1m)-5.17%
Revenue NY rev (3m)-6.8%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 12.84
P/FCF N/A
P/OCF N/A
P/B N/A
P/tB N/A
EV/EBITDA N/A
EPS(TTM)-3.38
EYN/A
EPS(NY)-0.91
Fwd EYN/A
FCF(TTM)-2.18
FCFYN/A
OCF(TTM)-2.16
OCFYN/A
SpS1.48
BVpS-1.9
TBVpS-10.14
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -25.13%
ROE N/A
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 83.89%
FCFM N/A
ROA(3y)-11.93%
ROA(5y)-10.13%
ROE(3y)-230.96%
ROE(5y)-140.65%
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-5.84%
GM growth 5Y-4.24%
F-Score2
Asset Turnover0.11
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 28.32%
Cap/Sales 1.23%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.38
Quick Ratio 1.38
Altman-Z -0.83
F-Score2
WACC6.75%
ROIC/WACCN/A
Cap/Depr(3y)143.67%
Cap/Depr(5y)216.4%
Cap/Sales(3y)7.08%
Cap/Sales(5y)8.28%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-160.42%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-518.18%
EPS Next Y20.86%
EPS Next 2Y18.1%
EPS Next 3Y21.29%
EPS Next 5Y23.09%
Revenue 1Y (TTM)-31.97%
Revenue growth 3Y-10.08%
Revenue growth 5Y25.53%
Sales Q2Q%-55.81%
Revenue Next Year-3.33%
Revenue Next 2Y12.61%
Revenue Next 3Y22.79%
Revenue Next 5Y33.46%
EBIT growth 1Y-97.24%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year42.77%
EBIT Next 3Y26.15%
EBIT Next 5Y18.59%
FCF growth 1Y50.66%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y48.85%
OCF growth 3YN/A
OCF growth 5YN/A