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NOVAN INC (NOVN) Stock Fundamental Analysis

NASDAQ:NOVN - Nasdaq - US66988N2053 - Common Stock - Currency: USD

0.0941  -0.03 (-24.84%)

After market: 0.0894 0 (-4.99%)

Fundamental Rating

2

Taking everything into account, NOVN scores 2 out of 10 in our fundamental rating. NOVN was compared to 193 industry peers in the Pharmaceuticals industry. Both the profitability and financial health of NOVN have multiple concerns. NOVN is growing strongly while it is still valued neutral. This is a good combination!


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year NOVN has reported negative net income.
NOVN had a negative operating cash flow in the past year.
In the past 5 years NOVN always reported negative net income.
In the past 5 years NOVN always reported negative operating cash flow.
NOVN Yearly Net Income VS EBIT VS OCF VS FCFNOVN 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 -10M -20M -30M -40M -50M

1.2 Ratios

The profitability ratios for NOVN are negative, so there is not much use analyzing them.
Industry RankSector Rank
ROA N/A
ROE N/A
ROIC N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
NOVN Yearly ROA, ROE, ROICNOVN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 0 1K 2K

1.3 Margins

Looking at the Gross Margin, with a value of 66.06%, NOVN is in the better half of the industry, outperforming 73.24% of the companies in the same industry.
NOVN 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 66.06%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
NOVN Yearly Profit, Operating, Gross MarginsNOVN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 0 -500 -1K -1.5K

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0

2. Health

2.1 Basic Checks

NOVN does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, NOVN has more shares outstanding
NOVN has a worse debt/assets ratio than last year.
NOVN Yearly Shares OutstandingNOVN Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 5M 10M 15M 20M
NOVN Yearly Total Debt VS Total AssetsNOVN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 20M 40M 60M 80M

2.2 Solvency

Based on the Altman-Z score of -6.93, we must say that NOVN is in the distress zone and has some risk of bankruptcy.
NOVN's Altman-Z score of -6.93 is on the low side compared to the rest of the industry. NOVN is outperformed by 69.95% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF N/A
Altman-Z -6.93
ROIC/WACCN/A
WACC8.45%
NOVN Yearly LT Debt VS Equity VS FCFNOVN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 0 20M -20M 40M -40M

2.3 Liquidity

A Current Ratio of 0.74 indicates that NOVN may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.74, NOVN is doing worse than 91.08% of the companies in the same industry.
NOVN has a Quick Ratio of 0.74. This is a bad value and indicates that NOVN is not financially healthy enough and could expect problems in meeting its short term obligations.
NOVN has a Quick ratio of 0.72. This is amonst the worse of the industry: NOVN underperforms 86.85% of its industry peers.
Industry RankSector Rank
Current Ratio 0.74
Quick Ratio 0.72
NOVN Yearly Current Assets VS Current LiabilitesNOVN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 10M 20M 30M 40M 50M

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7

3. Growth

3.1 Past

NOVN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 21.76%, which is quite impressive.
Looking at the last year, NOVN shows a very strong growth in Revenue. The Revenue has grown by 512.74%.
The Revenue has been growing by 61.73% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)21.76%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%23.94%
Revenue 1Y (TTM)512.74%
Revenue growth 3Y69.07%
Revenue growth 5Y61.73%
Sales Q2Q%64.21%

3.2 Future

NOVN is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 23.25% yearly.
Based on estimates for the next years, NOVN will show a very strong growth in Revenue. The Revenue will grow by 62.45% on average per year.
EPS Next Y78.75%
EPS Next 2Y44.82%
EPS Next 3Y29.1%
EPS Next 5Y23.25%
Revenue Next Year19.34%
Revenue Next 2Y95.98%
Revenue Next 3Y75.61%
Revenue Next 5Y62.45%

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 stable.
NOVN Yearly Revenue VS EstimatesNOVN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 50M 100M 150M 200M 250M
NOVN Yearly EPS VS EstimatesNOVN Yearly EPS VS EstimatesYearly EPS VS Estimates 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 -20 -40 -60 -80 -100

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for NOVN. In the last year negative earnings were reported.
With a Price/Forward Earnings ratio of 0.58, the valuation of NOVN can be described as very cheap.
Based on the Price/Forward Earnings ratio, NOVN is valued cheaper than 100.00% of the companies in the same industry.
NOVN is valuated cheaply when we compare the Price/Forward Earnings ratio to 34.91, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 0.58
NOVN Price Earnings VS Forward Price EarningsNOVN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
NOVN Per share dataNOVN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 -0.5 -1 -1.5

4.3 Compensation for Growth

NOVN's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
NOVN's earnings are expected to grow with 29.10% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y44.82%
EPS Next 3Y29.1%

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0

5. Dividend

5.1 Amount

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

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NOVAN INC

NASDAQ:NOVN (7/25/2023, 8:00:02 PM)

After market: 0.0894 0 (-4.99%)

0.0941

-0.03 (-24.84%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryPharmaceuticals
Earnings (Last)05-15 2023-05-15/bmo
Earnings (Next)08-09 2023-08-09/bmo
Inst Owners0.1%
Inst Owner Change-98.64%
Ins Owners20.94%
Ins Owner Change0%
Market Cap2.64M
Analysts82.86
Price Target15.81 (16701.28%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)3.14%
Min EPS beat(2)-65.44%
Max EPS beat(2)71.72%
EPS beat(4)2
Avg EPS beat(4)5.66%
Min EPS beat(4)-65.44%
Max EPS beat(4)71.72%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)9.01%
Min Revenue beat(2)-51.38%
Max Revenue beat(2)69.4%
Revenue beat(4)1
Avg Revenue beat(4)-1.57%
Min Revenue beat(4)-51.38%
Max Revenue beat(4)69.4%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)43.52%
PT rev (3m)24%
EPS NQ rev (1m)0%
EPS NQ rev (3m)10.87%
EPS NY rev (1m)49.28%
EPS NY rev (3m)49.28%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.42%
Revenue NY rev (1m)-12.59%
Revenue NY rev (3m)-12.59%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 0.58
P/S 0.11
P/FCF N/A
P/OCF N/A
P/B N/A
P/tB N/A
EV/EBITDA N/A
EPS(TTM)-1.51
EYN/A
EPS(NY)0.16
Fwd EY173.43%
FCF(TTM)-1.4
FCFYN/A
OCF(TTM)-1.28
OCFYN/A
SpS0.89
BVpS-0.1
TBVpS-1.21
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA N/A
ROE N/A
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 66.06%
FCFM N/A
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
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 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.31
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 97.74%
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.74
Quick Ratio 0.72
Altman-Z -6.93
F-Score3
WACC8.45%
ROIC/WACCN/A
Cap/Depr(3y)946.74%
Cap/Depr(5y)585.56%
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)21.76%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%23.94%
EPS Next Y78.75%
EPS Next 2Y44.82%
EPS Next 3Y29.1%
EPS Next 5Y23.25%
Revenue 1Y (TTM)512.74%
Revenue growth 3Y69.07%
Revenue growth 5Y61.73%
Sales Q2Q%64.21%
Revenue Next Year19.34%
Revenue Next 2Y95.98%
Revenue Next 3Y75.61%
Revenue Next 5Y62.45%
EBIT growth 1Y-10.27%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-17.39%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-11.42%
OCF growth 3YN/A
OCF growth 5YN/A