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PHARMING GROUP NV (PHARM.AS) Stock Fundamental Analysis

AMS:PHARM - NL0010391025 - Common Stock

1.151 EUR
+0.06 (+5.31%)
Last: 8/22/2025, 5:29:50 PM
Fundamental Rating

4

Taking everything into account, PHARM scores 4 out of 10 in our fundamental rating. PHARM was compared to 69 industry peers in the Biotechnology industry. PHARM has an average financial health and profitability rating. PHARM is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year PHARM has reported negative net income.
PHARM had a positive operating cash flow in the past year.
In multiple years PHARM reported negative net income over the last 5 years.
In multiple years PHARM reported negative operating cash flow during the last 5 years.
PHARM.AS Yearly Net Income VS EBIT VS OCF VS FCFPHARM.AS 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 50M -50M

1.2 Ratios

With a decent Return On Assets value of -1.84%, PHARM is doing good in the industry, outperforming 69.57% of the companies in the same industry.
Looking at the Return On Equity, with a value of -3.42%, PHARM is in the better half of the industry, outperforming 73.91% of the companies in the same industry.
With an excellent Return On Invested Capital value of 5.13%, PHARM belongs to the best of the industry, outperforming 84.06% of the companies in the same industry.
Industry RankSector Rank
ROA -1.84%
ROE -3.42%
ROIC 5.13%
ROA(3y)-0.68%
ROA(5y)2.2%
ROE(3y)-1.17%
ROE(5y)5.07%
ROIC(3y)N/A
ROIC(5y)N/A
PHARM.AS Yearly ROA, ROE, ROICPHARM.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300 -400

1.3 Margins

Looking at the Operating Margin, with a value of 7.21%, PHARM belongs to the top of the industry, outperforming 81.16% of the companies in the same industry.
With an excellent Gross Margin value of 89.31%, PHARM belongs to the best of the industry, outperforming 88.41% of the companies in the same industry.
PHARM's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 7.21%
PM (TTM) N/A
GM 89.31%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.48%
GM growth 5Y0.17%
PHARM.AS Yearly Profit, Operating, Gross MarginsPHARM.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 -100

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5

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so PHARM is destroying value.
The number of shares outstanding for PHARM has been increased compared to 1 year ago.
PHARM has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, PHARM has an improved debt to assets ratio.
PHARM.AS Yearly Shares OutstandingPHARM.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
PHARM.AS Yearly Total Debt VS Total AssetsPHARM.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

2.2 Solvency

PHARM has an Altman-Z score of 0.80. This is a bad value and indicates that PHARM is not financially healthy and even has some risk of bankruptcy.
PHARM has a Altman-Z score (0.80) which is comparable to the rest of the industry.
PHARM has a debt to FCF ratio of 4.26. This is a neutral value as PHARM would need 4.26 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 4.26, PHARM belongs to the top of the industry, outperforming 82.61% of the companies in the same industry.
A Debt/Equity ratio of 0.50 indicates that PHARM is not too dependend on debt financing.
PHARM has a Debt to Equity ratio of 0.50. This is comparable to the rest of the industry: PHARM outperforms 50.72% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.5
Debt/FCF 4.26
Altman-Z 0.8
ROIC/WACC0.83
WACC6.16%
PHARM.AS Yearly LT Debt VS Equity VS FCFPHARM.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M 200M

2.3 Liquidity

A Current Ratio of 2.79 indicates that PHARM has no problem at all paying its short term obligations.
PHARM has a better Current ratio (2.79) than 65.22% of its industry peers.
PHARM has a Quick Ratio of 2.07. This indicates that PHARM is financially healthy and has no problem in meeting its short term obligations.
PHARM has a Quick ratio (2.07) which is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 2.79
Quick Ratio 2.07
PHARM.AS Yearly Current Assets VS Current LiabilitesPHARM.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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6

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 50.00% over the past year.
Looking at the last year, PHARM shows a very strong growth in Revenue. The Revenue has grown by 22.44%.
PHARM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.64% yearly.
EPS 1Y (TTM)50%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%175%
Revenue 1Y (TTM)22.44%
Revenue growth 3Y14.33%
Revenue growth 5Y10.64%
Sales Q2Q%25.79%

3.2 Future

Based on estimates for the next years, PHARM will show a very strong growth in Earnings Per Share. The EPS will grow by 54.68% on average per year.
The Revenue is expected to grow by 9.43% on average over the next years. This is quite good.
EPS Next Y183.09%
EPS Next 2Y10.31%
EPS Next 3Y46.06%
EPS Next 5Y54.68%
Revenue Next Year13.88%
Revenue Next 2Y11.18%
Revenue Next 3Y10.03%
Revenue Next 5Y9.43%

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.
PHARM.AS Yearly Revenue VS EstimatesPHARM.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 100M 200M 300M 400M 500M
PHARM.AS Yearly EPS VS EstimatesPHARM.AS 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 0.1 -0.1 0.2

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3

4. Valuation

4.1 Price/Earnings Ratio

PHARM reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for PHARM. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
PHARM.AS Price Earnings VS Forward Price EarningsPHARM.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 50 -50 100 -100

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of PHARM indicates a rather cheap valuation: PHARM is cheaper than 98.55% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, PHARM is valued cheaper than 100.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF 3.04
EV/EBITDA 1.38
PHARM.AS Per share dataPHARM.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4

4.3 Compensation for Growth

A more expensive valuation may be justified as PHARM's earnings are expected to grow with 46.06% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y10.31%
EPS Next 3Y46.06%

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0

5. Dividend

5.1 Amount

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

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PHARMING GROUP NV

AMS:PHARM (8/22/2025, 5:29:50 PM)

1.151

+0.06 (+5.31%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)07-31 2025-07-31/bmo
Earnings (Next)11-06 2025-11-06
Inst Owners10.96%
Inst Owner ChangeN/A
Ins Owners1.41%
Ins Owner ChangeN/A
Market Cap78.72M
Analysts88.57
Price Target6.24 (442.14%)
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)40.45%
Min EPS beat(2)-42.39%
Max EPS beat(2)123.3%
EPS beat(4)2
Avg EPS beat(4)19%
Min EPS beat(4)-42.39%
Max EPS beat(4)123.3%
EPS beat(8)3
Avg EPS beat(8)-63.09%
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)2
Avg Revenue beat(2)11.02%
Min Revenue beat(2)8.68%
Max Revenue beat(2)13.37%
Revenue beat(4)3
Avg Revenue beat(4)6.98%
Min Revenue beat(4)-5.54%
Max Revenue beat(4)13.37%
Revenue beat(8)5
Avg Revenue beat(8)2.17%
Revenue beat(12)6
Avg Revenue beat(12)-0.82%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-200%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)3.53%
Revenue NQ rev (3m)4.69%
Revenue NY rev (1m)-0.38%
Revenue NY rev (3m)-0.38%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.27
P/FCF 3.04
P/OCF 2.95
P/B 0.38
P/tB 0.88
EV/EBITDA 1.38
EPS(TTM)-0.01
EYN/A
EPS(NY)-0.02
Fwd EYN/A
FCF(TTM)0.38
FCFY32.88%
OCF(TTM)0.39
OCFY33.89%
SpS4.27
BVpS3.01
TBVpS1.3
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -1.84%
ROE -3.42%
ROCE 6.84%
ROIC 5.13%
ROICexc 7.92%
ROICexgc 19.07%
OM 7.21%
PM (TTM) N/A
GM 89.31%
FCFM 8.87%
ROA(3y)-0.68%
ROA(5y)2.2%
ROE(3y)-1.17%
ROE(5y)5.07%
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-0.48%
GM growth 5Y0.17%
F-Score6
Asset Turnover0.76
Health
Industry RankSector Rank
Debt/Equity 0.5
Debt/FCF 4.26
Debt/EBITDA 2.95
Cap/Depr 5.84%
Cap/Sales 0.27%
Interest Coverage 3.72
Cash Conversion 77.15%
Profit Quality N/A
Current Ratio 2.79
Quick Ratio 2.07
Altman-Z 0.8
F-Score6
WACC6.16%
ROIC/WACC0.83
Cap/Depr(3y)9.71%
Cap/Depr(5y)59.68%
Cap/Sales(3y)0.61%
Cap/Sales(5y)3.49%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)50%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%175%
EPS Next Y183.09%
EPS Next 2Y10.31%
EPS Next 3Y46.06%
EPS Next 5Y54.68%
Revenue 1Y (TTM)22.44%
Revenue growth 3Y14.33%
Revenue growth 5Y10.64%
Sales Q2Q%25.79%
Revenue Next Year13.88%
Revenue Next 2Y11.18%
Revenue Next 3Y10.03%
Revenue Next 5Y9.43%
EBIT growth 1Y248.99%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year21.21%
EBIT Next 3Y76.77%
EBIT Next 5Y88.46%
FCF growth 1Y288.78%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y313.32%
OCF growth 3YN/A
OCF growth 5YN/A