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Athenex

DB:2MT
Snowflake Description

Excellent balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2MT
DB
$680M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Athenex, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of various therapies for the treatment of cancer and related conditions in North America and Asia. The last earnings update was 37 days ago. More info.


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  • Athenex has significant price volatility in the past 3 months.
2MT Share Price and Events
7 Day Returns
9.8%
DB:2MT
5.2%
DE Biotechs
4.3%
DE Market
1 Year Returns
-31.1%
DB:2MT
-7.4%
DE Biotechs
-14.2%
DE Market
2MT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Athenex (2MT) 9.8% -20.2% -48.2% -31.1% - -
DE Biotechs 5.2% -3.3% -20.3% -7.4% 19.5% -9.4%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • 2MT underperformed the Biotechs industry which returned -7.4% over the past year.
  • 2MT underperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
2MT
Industry
5yr Volatility vs Market
Related Companies

2MT Value

 Is Athenex undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Athenex to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Athenex.

DB:2MT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:2MT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.048 (1 + (1- 21%) (9.39%))
1.084
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.084 * 5.44%)
5.51%

Discounted Cash Flow Calculation for DB:2MT using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Athenex is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:2MT DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.51%)
2020 -148.33 Analyst x4 -140.58
2021 -101.93 Analyst x4 -91.56
2022 -131.70 Analyst x2 -112.13
2023 -25.80 Analyst x2 -20.82
2024 126.55 Analyst x2 96.79
2025 199.06 Est @ 57.3% 144.29
2026 278.66 Est @ 39.99% 191.45
2027 356.34 Est @ 27.88% 232.04
2028 425.46 Est @ 19.4% 262.58
2029 482.73 Est @ 13.46% 282.37
Present value of next 10 years cash flows $844.00
DB:2MT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $482.73 × (1 + -0.39%) ÷ (5.51% – -0.39%)
$8,151.49
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $8,151.49 ÷ (1 + 5.51%)10
$4,768.14
DB:2MT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $844.00 + $4,768.14
$5,612.14
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $5,612.14 / 81.63
$68.75
DB:2MT Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:2MT represents 0.87635x of NasdaqGS:ATNX
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.87635x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 68.75 x 0.87635
€60.25
Value per share (EUR) From above. €60.25
Current discount Discount to share price of €7.30
= -1 x (€7.30 - €60.25) / €60.25
87.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Athenex is available for.
Intrinsic value
>50%
Share price is €7.3 vs Future cash flow value of €60.25
Current Discount Checks
For Athenex to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Athenex's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Athenex's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Athenex's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Athenex's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:2MT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-1.67
NasdaqGS:ATNX Share Price ** NasdaqGS (2020-04-08) in USD $8.33
Europe Biotechs Industry PE Ratio Median Figure of 24 Publicly-Listed Biotechs Companies 43.07x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Athenex.

DB:2MT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:ATNX Share Price ÷ EPS (both in USD)

= 8.33 ÷ -1.67

-4.98x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Athenex is loss making, we can't compare its value to the Europe Biotechs industry average.
  • Athenex is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Athenex's expected growth come at a high price?
Raw Data
DB:2MT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -4.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
60.2%per year
Europe Biotechs Industry PEG Ratio Median Figure of 19 Publicly-Listed Biotechs Companies 1.71x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Athenex, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Athenex's assets?
Raw Data
DB:2MT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $2.31
NasdaqGS:ATNX Share Price * NasdaqGS (2020-04-08) in USD $8.33
Germany Biotechs Industry PB Ratio Median Figure of 14 Publicly-Listed Biotechs Companies 3.37x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:2MT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:ATNX Share Price ÷ Book Value per Share (both in USD)

= 8.33 ÷ 2.31

3.61x

* Primary Listing of Athenex.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Athenex is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Athenex's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Athenex has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

2MT Future Performance

 How is Athenex expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
60.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Athenex expected to grow at an attractive rate?
  • Athenex's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Athenex's earnings growth is expected to exceed the Germany market average.
  • Athenex's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:2MT Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:2MT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 60.2%
DB:2MT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 35.5%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 38.2%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26.2%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:2MT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:2MT Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 694 277 417 4
2023-12-31 473 153 237 4
2022-12-31 312 1 39 4
2021-12-31 219 -80 -75 7
2020-12-31 110 -176 -129 8
2020-04-08
DB:2MT Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 101 -97 -124
2019-09-30 88 -108 -129
2019-06-30 87 -109 -141
2019-03-31 77 -130 -145
2018-12-31 89 -109 -117
2018-09-30 83 -93 -119
2018-06-30 78 -71 -96
2018-03-31 71 -73 -97
2017-12-31 38 -82 -131
2017-09-30 28 -76 -143
2017-06-30 20 -77 -144
2017-03-31 21 -61 -118

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Athenex's earnings are expected to grow significantly at over 20% yearly.
  • Athenex's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:2MT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Athenex Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2MT Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 3.59 7.22 1.22 4.00
2023-12-31 1.96 4.46 0.22 4.00
2022-12-31 0.45 1.93 -0.54 4.00
2021-12-31 -0.84 0.42 -2.09 7.00
2020-12-31 -1.52 -1.02 -1.87 7.00
2020-04-08
DB:2MT Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -1.67
2019-09-30 -1.81
2019-06-30 -2.06
2019-03-31 -2.21
2018-12-31 -1.82
2018-09-30 -1.90
2018-06-30 -1.59
2018-03-31 -1.77
2017-12-31 -2.63
2017-09-30 -3.11
2017-06-30 -3.47
2017-03-31 -2.91

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Athenex will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Athenex's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Athenex has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

2MT Past Performance

  How has Athenex performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Athenex's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Athenex does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Athenex's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Athenex's 1-year growth to the Europe Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Athenex's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Athenex Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:2MT Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 101.23 -123.75 66.75 3.25
2019-09-30 88.14 -129.14 60.26
2019-06-30 87.20 -140.55 55.47
2019-03-31 76.57 -145.38 51.12
2018-12-31 89.10 -117.44 49.01 2.62
2018-09-30 82.70 -118.61 49.71
2018-06-30 78.27 -95.71 48.58
2018-03-31 71.30 -97.48 49.39
2017-12-31 38.04 -131.17 46.11 2.03
2017-09-30 28.28 -142.94 44.01
2017-06-30 19.91 -144.29 40.28
2017-03-31 20.50 -118.09 31.27
2016-12-31 20.55 -87.72 25.96
2016-09-30 20.51 -61.31 20.76
2015-12-31 13.94 -50.60 25.75
2014-12-31 1.21 -17.73 5.35 1.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Athenex has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Athenex has efficiently used its assets last year compared to the Europe Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Athenex improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Athenex's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Athenex has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

2MT Health

 How is Athenex's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Athenex's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Athenex is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Athenex's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Athenex's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Athenex Company Filings, last reported 3 months ago.

DB:2MT Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 175.86 52.83 160.81
2019-09-30 134.83 53.17 103.75
2019-06-30 167.21 50.30 140.45
2019-03-31 95.58 47.17 71.34
2018-12-31 128.77 46.16 107.42
2018-09-30 152.06 45.92 141.42
2018-06-30 124.41 0.87 80.66
2018-03-31 156.09 1.05 106.48
2017-12-31 90.72 1.33 51.04
2017-09-30 114.90 1.58 69.04
2017-06-30 120.37 8.57 85.30
2017-03-31 -3.62 45.82 29.09
2016-12-31 34.67 33.01 41.75
2016-09-30 69.61 30.09 55.37
2015-12-31 98.04 3.65 55.77
2014-12-31 27.84 0.00 27.99
  • Athenex's level of debt (30%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 30% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Athenex has sufficient cash runway for 1.4 years based on current free cash flow.
  • Athenex has sufficient cash runway for 1.1 years if free cash flow continues to grow at historical rates of 28% each year.
X
Financial health checks
We assess Athenex's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Athenex has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

2MT Dividends

 What is Athenex's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Athenex dividends. Estimated to be 0% next year.
If you bought €2,000 of Athenex shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Athenex's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Athenex's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:2MT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 1.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:2MT Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2020-04-08

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Athenex has not reported any payouts.
  • Unable to verify if Athenex's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Athenex's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Athenex has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Athenex's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Athenex's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Athenex afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Athenex has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

2MT Management

 What is the CEO of Athenex's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Johnson Lau
COMPENSATION $3,177,139
AGE 59
TENURE AS CEO 9.3 years
CEO Bio

Dr. Yiu-Nam Lau, also known as Johnson, MBBS, MD, FRCP, Ph.D., has been the Chief Executive Officer of Athenex, Inc. since 2011. Dr. Lau is the Vice Chairman and CEO of Axis Therapeutics. Dr. Lau serves as a Senior Advisor of Novartis. He is serving on the Board of Porton Fine Chemicals, and private companies including Avalon, Avagenex Limited, Aiviva Corporation, and Hong Kong X-tech Startup platform as a general partner and mentor. Dr. Lau has had extensive leadership experience in both scientific and business management. Dr. Lau served as Managing Director of Healthcare Investment Banking of Roth Capital Partners. He served as the Chairman and Chief Executive Officer of Valeant Pharmaceuticals International. He served as Chief Executive Officer and President of Ribapharm Inc. from April 17, 2002 to January 22, 2003 and served as its Chairman from November 2002 to January 22, 2003 and served as its Independent Contractor from January 2003 to December 2003. Dr. Lau has a wealth of experience from the medical, pharmaceutical and corporate fields, having a distinguished background in both academic medicine and executive-level management of pharmaceutical and biotechnology companies. He served as a Senior Vice President of ICN Pharmaceuticals from March 2000 until the completion of this offering and Head of Research and Development, where he played a role in raising $525 million through the sale of convertible bonds that facilitated the restructuring of that company, as well as establishing a number of strategic partnerships on their behalf. He served as a Senior Director of Antiviral Therapy at Schering-Plough Research Institute from 1997 to February 2000. Dr. Lau has been an Executive Chairman of Athenex, Inc. since December 2003. He serves as a Director of Comprehensive Drug Enterprises Limited. He was the Independent Non-Executive Director of C-MER Eye Care Holdings Ltd from October 19, 2017 until November 28, 2019 . He serves as a Director of XenoBiotic Laboratories. He served as a Member of Business Advisory Board of Life Science Institute, LLC. He served as a Director of Celsus Therapeutics Plc since April 25, 2007. Dr. Lau served as an Independent Director of Chelsea Therapeutics International, Ltd. (formerly Ivory Capital Corp.) and its subsidiary Chelsea Therapeutics Inc. from September 2004 to July 2012. He served as a Director of Ribapharm Inc. from April 17, 2002 to January 22, 2003 and Vioquest Pharmaceuticals Inc. since November 2005. Dr. Lau has a distinguished background in both academic medicine and executive-level management of pharmaceutical and biotechnology companies. He served as a faculty member at the University of Florida from 1992 to 1996. From 1989 to 1991, he served as a Faculty Member at the Institute of Liver Studies, King's College Hospital School of Medicine and Dentistry, University of London. He is also an Executive Board Member of the charity Project Vision and is an honorary professor/adjunct professor of the University of Hong Kong, Hong Kong Polytechnic University and Chongqing Southwestern Hospital, and a member of the Advisory Board of the School of Biomedical Sciences of the Chinese University of Hong Kong. He played a significant role in the FDA approval of Ribavirin/Interferon and Pegylated Interferon alpha-2b. He has published over 200 scientific papers, more than 40 reviews/editorials in leading scientific journals and edited two books. He is a Fellow of the Royal College of Physicians of United Kingdom. Dr. Lau holds an M.B.B.S. and M.D. from the University of Hong Kong and the degrees of M.R.C.P. and F.R.C.P. from the Royal College of Physicians.

CEO Compensation
  • Johnson's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Johnson's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Athenex management team in years:

2.6
Average Tenure
66
Average Age
  • The tenure for the Athenex management team is about average.
Management Team

Johnson Lau

TITLE
Chairman & CEO
COMPENSATION
$3M
AGE
59
TENURE
9.3 yrs

Jeff Yordon

TITLE
COO & President of Athenex Pharmaceutical Division
COMPENSATION
$2M
AGE
70
TENURE
3.2 yrs

Rudolf Kwan

TITLE
Executive VP & Chief Medical Officer
COMPENSATION
$2M
AGE
66
TENURE
6.3 yrs

Antony Leung

TITLE
Strategic & Business Advisor
COMPENSATION
$11K
AGE
67
TENURE
2.1 yrs

Allen Barnett

TITLE
Co-Founder & President Emeritus
TENURE
9.3 yrs

Randoll Sze

TITLE
Chief Financial Officer
AGE
38
TENURE
1.7 yrs

Teresa Bair

TITLE
Senior Vice President of Administration & Legal Affairs
TENURE
1.3 yrs

Jacqueline Li

TITLE
Director of Corporate Development & Investor Relations

Dan Lang

TITLE
Senior Director of Corporate Development
TENURE
1.3 yrs

John Matthei

TITLE
Vice President of Human Resources
Board of Directors Tenure

Average tenure and age of the Athenex board of directors in years:

1.8
Average Tenure
62
Average Age
  • The average tenure for the Athenex board of directors is less than 3 years, this suggests a new board.
Board of Directors

Kim Campbell

TITLE
Lead Independent Director
COMPENSATION
$216K
AGE
72
TENURE
3.3 yrs

Johnson Lau

TITLE
Chairman & CEO
COMPENSATION
$3M
AGE
59
TENURE
16.4 yrs

Benson Tsang

TITLE
Director
COMPENSATION
$130K
AGE
54
TENURE
1.8 yrs

Stephanie Davis

TITLE
Independent Director
AGE
55
TENURE
1 yrs

Jinn Wu

TITLE
Independent Director
COMPENSATION
$199K
AGE
70
TENURE
13 yrs

Manson Fok

TITLE
Director
COMPENSATION
$179K
AGE
62
TENURE
4.8 yrs

John Vierling

TITLE
Independent Director
AGE
73
TENURE
1 yrs

Jordan Kanfer

TITLE
Independent Director
AGE
48
TENURE
1 yrs

John Koh

TITLE
Independent Director
AGE
63
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Athenex individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
27. Mar 20 Buy Yiu-Nam Lau Individual 27. Mar 20 27. Mar 20 1,000 €7.11 €7,107
27. Mar 20 Buy Randoll Sze Individual 27. Mar 20 27. Mar 20 1,000 €7.39 €7,387
26. Mar 20 Buy Manson Fok Individual 25. Mar 20 25. Mar 20 50,000 €6.69 €334,551
23. Mar 20 Buy Yiu-Nam Lau Individual 23. Mar 20 23. Mar 20 1,000 €6.18 €6,183
20. Mar 20 Buy Yiu-Nam Lau Individual 20. Mar 20 20. Mar 20 1,000 €6.40 €6,401
19. Mar 20 Buy Yiu-Nam Lau Individual 19. Mar 20 19. Mar 20 2,000 €6.16 €12,326
19. Mar 20 Buy Rudolf Kwan Individual 18. Mar 20 18. Mar 20 4,000 €5.44 €21,766
18. Mar 20 Buy Yiu-Nam Lau Individual 18. Mar 20 18. Mar 20 2,000 €5.33 €10,669
17. Mar 20 Buy Yiu-Nam Lau Individual 17. Mar 20 17. Mar 20 2,000 €6.28 €12,565
16. Mar 20 Buy Yiu-Nam Lau Individual 16. Mar 20 16. Mar 20 2,000 €6.82 €13,639
16. Mar 20 Buy Kwan-Hung Tsang Individual 13. Mar 20 13. Mar 20 5,000 €7.58 €37,877
13. Mar 20 Buy Yiu-Nam Lau Individual 12. Mar 20 12. Mar 20 2,000 €7.34 €14,676
13. Mar 20 Buy Kwan-Hung Tsang Individual 12. Mar 20 12. Mar 20 5,000 €7.54 €37,684
13. Mar 20 Buy Rudolf Kwan Individual 12. Mar 20 12. Mar 20 2,000 €7.40 €14,803
12. Mar 20 Buy Yiu-Nam Lau Individual 12. Mar 20 12. Mar 20 4,000 €7.54 €30,180
12. Mar 20 Buy Jeffrey Yordon Individual 12. Mar 20 12. Mar 20 10,000 €7.36 €73,588
11. Mar 20 Buy Manson Fok Individual 11. Mar 20 11. Mar 20 50,000 €9.12 €455,939
10. Mar 20 Buy Rudolf Kwan Individual 09. Mar 20 09. Mar 20 2,000 €8.56 €17,123
27. Dec 19 Buy Perceptive Advisors LLC Company 24. Dec 19 24. Dec 19 73,698 €12.97 €956,160
26. Dec 19 Buy Perceptive Advisors LLC Company 19. Dec 19 23. Dec 19 606,302 €12.90 €7,668,715
17. Dec 19 Buy Randoll Sze Individual 17. Dec 19 17. Dec 19 1,000 €11.88 €11,880
12. Nov 19 Buy Manson Fok Individual 07. Nov 19 07. Nov 19 50,000 €10.57 €528,301
21. Oct 19 Buy Perceptive Advisors LLC Company 17. Oct 19 17. Oct 19 50,000 €9.83 €491,358
18. Oct 19 Buy Perceptive Advisors LLC Company 16. Oct 19 16. Oct 19 67,222 €9.30 €625,241
17. Oct 19 Buy Randoll Sze Individual 17. Oct 19 17. Oct 19 1,000 €9.88 €9,881
16. Oct 19 Buy Yiu-Nam Lau Individual 16. Oct 19 16. Oct 19 6,000 €9.18 €55,102
30. Sep 19 Buy Yiu-Nam Lau Individual 27. Sep 19 27. Sep 19 3,000 €11.74 €35,212
30. Sep 19 Buy Randoll Sze Individual 30. Sep 19 30. Sep 19 1,000 €11.57 €11,574
23. Sep 19 Buy Yiu-Nam Lau Individual 23. Sep 19 23. Sep 19 5,000 €12.60 €63,021
18. Sep 19 Buy Perceptive Advisors LLC Company 16. Sep 19 16. Sep 19 30,000 €12.35 €370,449
16. Sep 19 Buy Yiu-Nam Lau Individual 16. Sep 19 16. Sep 19 5,000 €12.34 €61,696
16. Sep 19 Buy Perceptive Advisors LLC Company 12. Sep 19 13. Sep 19 70,000 €12.89 €899,308
23. Aug 19 Buy Yiu-Nam Lau Individual 23. Aug 19 23. Aug 19 5,000 €13.45 €67,238
16. Aug 19 Buy Perceptive Advisors LLC Company 16. Aug 19 16. Aug 19 20,000 €13.48 €269,639
16. Aug 19 Buy Perceptive Advisors LLC Company 15. Aug 19 15. Aug 19 30,000 €13.51 €405,270
16. Aug 19 Buy Rudolf Kwan Individual 15. Aug 19 15. Aug 19 1,000 €13.37 €13,374
15. Aug 19 Buy Yiu-Nam Lau Individual 15. Aug 19 15. Aug 19 10,000 €13.42 €134,189
09. Aug 19 Buy Perceptive Advisors LLC Company 21. Jun 19 08. Aug 19 808,481 €15.97 €10,577,683
28. Jun 19 Buy Stephanie Davis Individual 26. Jun 19 26. Jun 19 10,000 €15.82 €158,166
21. Jun 19 Buy Perceptive Advisors LLC Company 18. Jun 19 18. Jun 19 50,742 €15.83 €803,123
20. Jun 19 Buy Perceptive Advisors LLC Company 17. Jun 19 17. Jun 19 130,000 €15.97 €2,076,124
19. Jun 19 Buy Perceptive Advisors LLC Company 14. Jun 19 14. Jun 19 324,290 €15.76 €5,111,965
18. Jun 19 Buy Perceptive Advisors LLC Company 13. Jun 19 13. Jun 19 75,710 €15.12 €1,144,860
07. Jun 19 Buy Jordan Kanfer Individual 06. Jun 19 06. Jun 19 2,500 €13.29 €33,228
08. May 19 Buy Perceptive Advisors LLC Company 06. May 19 06. May 19 100,000 €11.52 €1,135,135
X
Management checks
We assess Athenex's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Athenex has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

2MT News

Simply Wall St News

2MT Company Info

Description

Athenex, Inc., a biopharmaceutical company, engages in the discovery, development, and commercialization of various therapies for the treatment of cancer and related conditions in North America and Asia. It operates in three segments: Oncology Innovation Platform, Global Supply Chain Platform, and Commercial Platform. The company’s Orascovery product candidates include Oraxol, an oral dosage form, which is in Phase III trial for metastatic breast cancer, as well as various clinical studies in advanced malignances and gastric cancer; and Oratecan, an oral dosage form of irinotecan that is in a Phase I study for the treatment of metastatic colorectal cancer, glioblastoma, lung, ovarian, cervical, upper gastrointestinal, and pancreatic cancer. Its Orascovery product candidates also comprise Oradoxel, an oral dosage form of docetaxel, which is in Phase I clinical study for breast, lung, prostate, gastric, and head and neck cancers; Oratopo, an oral dosage form of topotecan that is Phase I clinical trial to treat lung, ovarian, and cervical cancer; and oral eribulin, an intravenous anticancer drug to treat certain patients with breast cancer and advanced liposarcoma. In addition, the company offers Src Kinase product candidates comprising KX2-391 ointments for actinic keratosis, skin cancers, and psoriasis; KX-01 oral for solid and liquid tumors; and KX2-361 for glioblastoma multiforme. Further, it is developing dual absorption enhancers to inhibit the P-gp transporter and the cytochrome P450 enzymes within the gastrointestinal tract; T Cell Receptor Engineered T Cell, a cell-based immunotherapy; and Pegtomarginase, an arginine deprivation therapy product. The company was formerly known as Kinex Pharmaceuticals LLC and changed its name to Athenex, Inc. in August 2015. Athenex, Inc. was founded in 2003 and is headquartered in Buffalo, New York.

Details
Name: Athenex, Inc.
2MT
Exchange: DB
Founded: 2003
$625,285,408
81,627,093
Website: http://www.athenex.com
Address: Athenex, Inc.
Conventus Building,
Suite 600,
Buffalo,
New York, 14203,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS ATNX Common Stock Nasdaq Global Select US USD 14. Jun 2017
DB 2MT Common Stock Deutsche Boerse AG DE EUR 14. Jun 2017
Number of employees
Current staff
Staff numbers
578
Athenex employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 22:51
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/03/11
Last earnings filing: 2020/03/02
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.