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Pharming Group

DB:PHGN
Snowflake Description

Outstanding track record with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PHGN
DB
€643M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Pharming Group N.V., a specialty pharmaceutical company, develops and manufactures biopharmaceutical products in the United States, Europe, and internationally. The last earnings update was 9 days ago. More info.


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  • Pharming Group has significant price volatility in the past 3 months.
PHGN Share Price and Events
7 Day Returns
8%
DB:PHGN
5.2%
DE Biotechs
4.3%
DE Market
1 Year Returns
16.1%
DB:PHGN
-7.4%
DE Biotechs
-14.2%
DE Market
PHGN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pharming Group (PHGN) 8% -11.3% -34.7% 16.1% 257.7% 194.7%
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
  • PHGN outperformed the Biotechs industry which returned -7.4% over the past year.
  • PHGN outperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
PHGN
Industry
5yr Volatility vs Market

PHGN Value

 Is Pharming Group 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 Pharming Group 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 Pharming Group.

DB:PHGN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 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:PHGN
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- 25%) (8.08%))
1.075
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.075 * 5.44%)
5.46%

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

The calculations below outline how an intrinsic value for Pharming Group 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:PHGN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 5.46%)
2020 35.47 Analyst x3 33.63
2021 42.89 Analyst x3 38.57
2022 65.50 Analyst x1 55.85
2023 69.72 Est @ 6.45% 56.38
2024 72.79 Est @ 4.4% 55.81
2025 74.95 Est @ 2.96% 54.49
2026 76.41 Est @ 1.96% 52.68
2027 77.37 Est @ 1.25% 50.58
2028 77.96 Est @ 0.76% 48.33
2029 78.28 Est @ 0.41% 46.02
Present value of next 10 years cash flows €492.00
DB:PHGN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €78.28 × (1 + -0.39%) ÷ (5.46% – -0.39%)
€1,333.64
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,333.64 ÷ (1 + 5.46%)10
€783.97
DB:PHGN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €492.00 + €783.97
€1,275.97
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,275.97 / 634.99
€2.01
DB:PHGN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:PHGN represents 0.99308x of ENXTAM:PHARM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99308x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 2.01 x 0.99308
€2.00
Value per share (EUR) From above. €2.00
Current discount Discount to share price of €1.01
= -1 x (€1.01 - €2.00) / €2.00
49.6%

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

Current Discount
Amount off the current price Pharming Group is available for.
Intrinsic value
50%
Share price is €1.01 vs Future cash flow value of €2
Current Discount Checks
For Pharming Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pharming Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Pharming Group'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 Pharming Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pharming Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PHGN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €0.06
ENXTAM:PHARM Share Price ** ENXTAM (2020-04-08) in EUR €1.01
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 Pharming Group.

DB:PHGN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTAM:PHARM Share Price ÷ EPS (both in EUR)

= 1.01 ÷ 0.06

17.51x

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

  • Pharming Group is good value based on earnings compared to the Europe Biotechs industry average.
  • Pharming Group is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Pharming Group's expected growth come at a high price?
Raw Data
DB:PHGN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.51x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
36%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 .

DB:PHGN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.51x ÷ 36%

0.49x

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

  • Pharming Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Pharming Group's assets?
Raw Data
DB:PHGN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €0.17
ENXTAM:PHARM Share Price * ENXTAM (2020-04-08) in EUR €1.01
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:PHGN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTAM:PHARM Share Price ÷ Book Value per Share (both in EUR)

= 1.01 ÷ 0.17

6.1x

* Primary Listing of Pharming Group.

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

  • Pharming Group is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Pharming Group'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. Pharming Group has a total score of 4/6, 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.

PHGN Future Performance

 How is Pharming Group expected to perform in the next 1 to 3 years based on estimates from 5 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
36%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pharming Group expected to grow at an attractive rate?
  • Pharming Group's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Pharming Group's earnings growth is expected to exceed the Germany market average.
  • Pharming Group's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PHGN Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PHGN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 36%
DB:PHGN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 19.5%
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:PHGN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PHGN Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 315 98 116 3
2021-12-31 236 74 68 5
2020-12-31 202 59 51 5
2020-04-08
DB:PHGN Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 169 67 36
2019-09-30 160 62 35
2019-06-30 154 56 30
2019-03-31 141 51 26
2018-12-31 135 40 25
2018-09-30 131 54 -25
2018-06-30 118 52 -38
2018-03-31 104 42 -65
2017-12-31 90 38 -76
2017-09-30 64 12 -45
2017-06-30 41 -6 -41
2017-03-31 29 -12 -20

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pharming Group's earnings are expected to grow significantly at over 20% yearly.
  • Pharming Group's revenue is expected to grow by 19.5% yearly, however this is not considered high growth (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:PHGN 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 5 Analyst Estimates (S&P Global) See Below

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

DB:PHGN Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.16 0.22 0.12 3.00
2021-12-31 0.10 0.14 0.08 5.00
2020-12-31 0.08 0.09 0.06 5.00
2020-04-08
DB:PHGN Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 0.06
2019-09-30 0.06
2019-06-30 0.05
2019-03-31 0.04
2018-12-31 0.04
2018-09-30 -0.04
2018-06-30 -0.07
2018-03-31 -0.12
2017-12-31 -0.15
2017-09-30 -0.10
2017-06-30 -0.09
2017-03-31 -0.05

*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.
  • Pharming Group is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Pharming Group'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.
Pharming Group 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.

PHGN Past Performance

  How has Pharming Group 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 Pharming Group'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.
  • Pharming Group's year on year earnings growth rate has been positive over the past 5 years.
  • Pharming Group's 1-year earnings growth exceeds its 5-year average (44.8% vs 14%)
  • Pharming Group's earnings growth has exceeded the Europe Biotechs industry average in the past year (44.8% vs 14.9%).
Earnings and Revenue History
Pharming Group'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 Pharming Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PHGN Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 169.02 36.20 58.83 28.37
2019-09-30 160.21 35.17 53.40 35.04
2019-06-30 153.61 30.07 52.40 31.75
2019-03-31 140.87 26.24 48.63 28.45
2018-12-31 135.13 24.99 46.76 28.88
2018-09-30 131.17 -24.66 48.10 23.16
2018-06-30 118.43 -37.51 45.61 21.52
2018-03-31 103.64 -65.01 42.78 19.71
2017-12-31 89.62 -76.25 37.40 18.66
2017-09-30 63.91 -44.81 27.27 17.38
2017-06-30 41.24 -41.02 18.80 17.51
2017-03-31 29.12 -19.90 11.81 16.38
2016-12-31 15.87 -17.54 7.68 15.39
2016-09-30 11.02 -14.50 5.26 14.96
2016-06-30 10.87 -13.20 5.06 14.64
2016-03-31 11.26 -12.01 4.88 15.16
2015-12-31 10.83 -9.96 4.83 14.18
2015-09-30 25.84 7.20 5.15 12.80
2015-06-30 23.88 8.43 4.77 12.97
2015-03-31 21.55 8.94 3.83 11.69
2014-12-31 21.19 -5.77 3.32 11.66
2014-09-30 4.72 -22.84 2.53 11.84
2014-06-30 4.48 -25.53 2.29 10.38
2014-03-31 7.78 -25.66 2.52 10.64
2013-12-31 6.84 -15.06 2.52 10.23
2013-09-30 14.33 -11.01 2.39 13.04
2013-06-30 13.75 -14.75 2.58 15.43

*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.
  • Pharming Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Pharming Group used its assets more efficiently than the Europe Biotechs industry average last year based on Return on Assets.
  • Pharming Group has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Pharming Group'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.
Pharming Group has a total score of 6/6, 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.

PHGN Health

 How is Pharming Group'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 Pharming Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pharming Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pharming Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Pharming Group'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.3x 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 Pharming Group Company Filings, last reported 3 months ago.

DB:PHGN Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 104.68 45.59 66.30
2019-09-30 90.48 54.09 62.97
2019-06-30 77.49 58.87 63.89
2019-03-31 69.07 66.91 65.26
2018-12-31 61.75 72.50 80.31
2018-09-30 48.17 77.36 71.03
2018-06-30 40.67 83.03 65.54
2018-03-31 31.61 78.03 58.46
2017-12-31 16.11 81.56 58.66
2017-09-30 6.21 87.71 38.39
2017-06-30 6.76 89.66 25.00
2017-03-31 28.94 64.80 27.36
2016-12-31 27.47 66.53 31.89
2016-09-30 14.98 14.28 16.76
2016-06-30 18.16 14.91 21.41
2016-03-31 21.03 14.40 27.51
2015-12-31 23.84 14.80 31.64
2015-09-30 25.58 15.30 34.85
2015-06-30 27.89 0.00 24.78
2015-03-31 29.27 0.00 30.13
2014-12-31 29.84 0.00 34.19
2014-09-30 15.88 0.00 23.63
2014-06-30 12.19 0.00 26.26
2014-03-31 7.11 0.00 18.60
2013-12-31 5.01 0.00 16.97
2013-09-30 -1.59 2.35 12.70
2013-06-30 -0.60 6.36 13.05
  • Pharming Group's level of debt (43.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 43.6% today).
  • Debt is well covered by operating cash flow (146%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.6x coverage).
X
Financial health checks
We assess Pharming Group'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. Pharming Group has a total score of 4/6, 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.

PHGN Dividends

 What is Pharming Group'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 Pharming Group dividends.
If you bought €2,000 of Pharming Group 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 Pharming Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Pharming Group'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:PHGN 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 5 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:PHGN Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31
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 Pharming Group has not reported any payouts.
  • Unable to verify if Pharming Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Pharming Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Pharming Group has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Pharming Group'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 Pharming Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pharming Group 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.

PHGN Management

 What is the CEO of Pharming Group'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
Simon de Vries
COMPENSATION €1,356,000
AGE 60
TENURE AS CEO 11.4 years
CEO Bio

Dr. Sijmen De Vries, also known as Simon, M.D., MBA has been the Chief Executive Officer of Pharming Group NV since November 3, 2008 and has also been its Chairman and Member of the Management Board since October 13, 2008. Dr. De Vries served as the Chief Executive Officer of 4-Antibody AG from August 2006 to September 2008. He joined 4-Antibody AG in June 2006. He has extensive senior level experience in both the pharmaceutical and biotechnology industries. He served as Chief Executive Officer at Morphochem AG since joining in August 2004. He served as Head of Global Business Development and Licensing at Novartis Ophthalmics. Dr. De Vries served as Global Brand Director at Gastroenterology of Novartis Pharma. He held a number of senior positions including Chief Executive Officer of a biotech start-up, the Rademacher Group Ltd. He served as a Director of Market Development Europe and Director of Augmentin, Anti-infective products at SmithKline Beecham Pharmaceuticals, where he served from 1986 to 1997. He has been a Non-Executive Director of Midatech Pharma Plc since October 2004. Dr. De Vries has a Medical Doctor Degree from University of Amsterdam and an MBA from Ashridge Management College (UK).

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

Average tenure and age of the Pharming Group management team in years:

4.8
Average Tenure
51
Average Age
  • The tenure for the Pharming Group management team is about average.
Management Team

Simon de Vries

TITLE
Chairman of Management Board & CEO
COMPENSATION
€1M
AGE
60
TENURE
11.4 yrs

Robin Wright

TITLE
CFO & Member of Management Board
COMPENSATION
€655K
AGE
55
TENURE
4.5 yrs

Bruno M. Giannetti

TITLE
Chief Medical Officer & Member of Management Board
COMPENSATION
€839K
AGE
67
TENURE
13.3 yrs

Mireille Sanders

TITLE
Senior Vice President of Operations
AGE
51
TENURE
0.7 yrs

Perry Calias

TITLE
Chief Scientific Officer
AGE
51
TENURE
5.2 yrs

Anne-Marie de Groot

TITLE
Senior Vice President of Organisational Development
AGE
38
TENURE
6.3 yrs

Paul Jansse

TITLE
VP & Head of Non-US Commercial Operations
AGE
50
TENURE
3.3 yrs

Stephen Toor

TITLE
Senior VP & GM of Pharming USA
AGE
48
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the Pharming Group board of directors in years:

7.5
Average Tenure
66
Average Age
  • The tenure for the Pharming Group board of directors is about average.
Board of Directors

Paul Sekhri

TITLE
Independent Chairman of the Board of Supervisory Directors
COMPENSATION
€80K
AGE
61
TENURE
3.9 yrs

Juergen H. Ernst

TITLE
Independent Vice Chairman of the Board of Supervisory Directors
COMPENSATION
€68K
AGE
80

John Ward

TITLE
Independent Member of the Board of Supervisory Directors
COMPENSATION
€68K
AGE
81
TENURE
12.9 yrs

Aad de Winter

TITLE
Independent Member of the Board of Supervisory Directors
COMPENSATION
€71K
AGE
66
TENURE
11 yrs

Deborah Jorn

TITLE
Independent Member of the Board of Supervisory Directors
AGE
60
TENURE
0.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Pharming Group individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
30. Jan 20 Buy Robin Wright Individual 30. Jan 20 30. Jan 20 268,326 €1.38 €370,290
30. Jan 20 Buy Juergen H. Ernst Individual 30. Jan 20 30. Jan 20 78,313 €1.38 €108,072
17. May 19 Sell Bruno M. Giannetti Individual 17. May 19 17. May 19 -1,052,500 €0.78 €-820,950
17. May 19 Buy Bruno M. Giannetti Individual 17. May 19 17. May 19 1,440,000 €0.34 €489,600
X
Management checks
We assess Pharming Group'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. Pharming Group 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.

PHGN News

Simply Wall St News

PHGN Company Info

Description

Pharming Group N.V., a specialty pharmaceutical company, develops and manufactures biopharmaceutical products in the United States, Europe, and internationally. The company’s lead product is Ruconest, a recombinant human C1 esterase inhibitor that is used for the treatment of acute hereditary angioedema (HAE) in Europe, the United States, Israel, and South Korea. It also engages in the development of recombinant human factor VIII (rhFVIII), a natural human blood clotting factor for treating haemophilia A; and protein replacement treatments for enzyme-defi ciency disorders, such as pompe and fabry diseases, as well as products for contrast induced nephropathy. The company has a partnership with China Shanghai Institute of Pharmaceutical Industry for the development of new products; and development collaboration and license agreement with Novartis to develop and commercialize CDZ173, a small molecule phosphoinositide 3-kinase delta inhibitor to treat patients with activated phosphoinositide 3-kinase delta syndrome. Pharming Group N.V. is headquartered in Leiden, the Netherlands.

Details
Name: Pharming Group N.V.
PHGN
Exchange: DB
Founded:
€642,614,701
634,994,764
Website: http://www.pharming.com
Address: Pharming Group N.V.
Darwinweg 24,
Leiden,
Zuid-Holland, 2333 CR,
Netherlands
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTAM PHARM Ordinary Shares Euronext Amsterdam NL EUR 05. Oct 1998
OTCPK PHGU.F Ordinary Shares Pink Sheets LLC US USD 05. Oct 1998
DB PHGN Ordinary Shares Deutsche Boerse AG DE EUR 05. Oct 1998
LSE 0QCO Ordinary Shares London Stock Exchange GB EUR 05. Oct 1998
BRSE PHGN Ordinary Shares Berne Stock Exchange CH CHF 05. Oct 1998
Number of employees
Current staff
Staff numbers
212
Pharming Group employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 22:13
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/03/30
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.