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Affimed

Nasdaq:AFMD
Snowflake Description

Excellent balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AFMD
Nasdaq
$119M
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

Affimed N.V., a clinical-stage biopharmaceutical company, focuses on discovering and developing cancer immunotherapies in the United States, Europe, and Germany. The last earnings update was 130 days ago. More info.


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  • Affimed has significant price volatility in the past 3 months.
AFMD Share Price and Events
7 Day Returns
-16.1%
NasdaqGM:AFMD
6.3%
US Biotechs
12.6%
US Market
1 Year Returns
-62.9%
NasdaqGM:AFMD
1.6%
US Biotechs
-9.1%
US Market
AFMD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Affimed (AFMD) -16.1% -33% -42.9% -62.9% -32.2% -75.9%
US Biotechs 6.3% -7.9% -7.9% 1.6% 7.7% -8.8%
US Market 12.6% -16.7% -19.6% -9.1% 8.2% 21.5%
1 Year Return vs Industry and Market
  • AFMD underperformed the Biotechs industry which returned 1.6% over the past year.
  • AFMD underperformed the Market in United States of America which returned -9.1% over the past year.
Price Volatility
AFMD
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Affimed 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 Affimed 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 Affimed.

NasdaqGM:AFMD 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 8%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

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 NasdaqGM:AFMD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.2
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.203 (1 + (1- 30%) (3.53%))
1.156
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.16
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.156 * 5.44%)
8.03%

Discounted Cash Flow Calculation for NasdaqGM:AFMD using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Affimed 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.

NasdaqGM:AFMD DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.03%)
2020 72.13 Est @ 73.8% 66.77
2021 109.77 Est @ 52.18% 94.07
2022 150.44 Est @ 37.05% 119.34
2023 190.25 Est @ 26.46% 139.70
2024 226.48 Est @ 19.04% 153.94
2025 257.85 Est @ 13.85% 162.25
2026 284.19 Est @ 10.22% 165.54
2027 306.00 Est @ 7.67% 165.00
2028 324.04 Est @ 5.89% 161.74
2029 339.10 Est @ 4.65% 156.68
Present value of next 10 years cash flows €1,385.00
NasdaqGM:AFMD DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €339.10 × (1 + 1.74%) ÷ (8.03% – 1.74%)
€5,487.74
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €5,487.74 ÷ (1 + 8.03%)10
€2,535.59
NasdaqGM:AFMD Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €1,385.00 + €2,535.59
€3,920.59
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €3,920.59 / 76.24
€51.42
NasdaqGM:AFMD Discount to Share Price
Calculation Result
Exchange Rate EUR/USD
(Reporting currency to currency of NasdaqGM:AFMD)
1.109
Value per Share
(USD)
= Value per Share in EUR x Exchange Rate (EUR/USD)
= €51.42 x 1.109
$57.02
Value per share (USD) From above. $57.02
Current discount Discount to share price of $1.56
= -1 x ($1.56 - $57.02) / $57.02
97.3%

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

Current Discount
Amount off the current price Affimed is available for.
Intrinsic value
>50%
Share price is $1.56 vs Future cash flow value of $57.02
Current Discount Checks
For Affimed to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Affimed's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Affimed'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 Affimed's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Affimed's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:AFMD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €-0.17
NasdaqGM:AFMD Share Price ** NasdaqGM (2020-03-27) in USD $1.56
NasdaqGM:AFMD Share Price converted to EUR reporting currency Exchange rate (USD/ EUR) 0.902 €1.41
United States of America Biotechs Industry PE Ratio Median Figure of 37 Publicly-Listed Biotechs Companies 15.87x
United States of America Market PE Ratio Median Figure of 2,935 Publicly-Listed Companies 13.38x

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

** Primary Listing of Affimed.

NasdaqGM:AFMD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:AFMD Share Price ÷ EPS (both in EUR)

= 1.41 ÷ -0.17

-8.28x

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

  • Affimed is loss making, we can't compare its value to the US Biotechs industry average.
  • Affimed is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Affimed's expected growth come at a high price?
Raw Data
NasdaqGM:AFMD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -8.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
22.6%per year
United States of America Biotechs Industry PEG Ratio Median Figure of 34 Publicly-Listed Biotechs Companies 0.99x
United States of America Market PEG Ratio Median Figure of 2,005 Publicly-Listed Companies 1.03x

*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 Affimed, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Affimed's assets?
Raw Data
NasdaqGM:AFMD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €0.36
NasdaqGM:AFMD Share Price * NasdaqGM (2020-03-27) in USD $1.56
NasdaqGM:AFMD Share Price converted to EUR reporting currency Exchange rate (USD/ EUR) 0.902 €1.41
United States of America Biotechs Industry PB Ratio Median Figure of 428 Publicly-Listed Biotechs Companies 2.47x
United States of America Market PB Ratio Median Figure of 5,145 Publicly-Listed Companies 1.27x
NasdaqGM:AFMD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:AFMD Share Price ÷ Book Value per Share (both in EUR)

= 1.41 ÷ 0.36

3.95x

* Primary Listing of Affimed.

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

  • Affimed is overvalued based on assets compared to the US Biotechs industry average.
X
Value checks
We assess Affimed'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. Affimed 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.

Future Performance

 How is Affimed 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
22.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Affimed expected to grow at an attractive rate?
  • Affimed's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Affimed's earnings growth is expected to exceed the United States of America market average.
  • Affimed's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:AFMD Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:AFMD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 22.6%
NasdaqGM:AFMD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 36.1%
United States of America Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 18.7%
United States of America Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 15.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
NasdaqGM:AFMD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 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.
NasdaqGM:AFMD Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 149 39 2
2023-12-31 107 -16 2
2022-12-31 93 -37 3
2021-12-31 54 -37 3
2020-12-31 23 -41 -40 5
2020-03-28
2019-12-31 19 -46 -34 4
NasdaqGM:AFMD Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 40 44 -11
2019-06-30 38 46 -12
2019-03-31 35 43 -9
2018-12-31 24 49 -19
2018-09-30 2 -30 -35
2018-06-30 2 -28 -31
2018-03-31 2 -25 -31
2017-12-31 2 -26 -30
2017-09-30 3 -27 -29
2017-06-30 3 -28 -31
2017-03-31 5 -31 -32
2016-12-31 6 -32 -32

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Affimed's earnings are expected to grow significantly at over 20% yearly.
  • Affimed'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
NasdaqGM:AFMD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Affimed Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:AFMD Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 0.35 0.35 0.35 1.00
2023-12-31 0.19 0.19 0.19 1.00
2022-12-31 -0.18 -0.18 -0.18 1.00
2021-12-31 -0.50 -0.23 -0.76 2.00
2020-12-31 -0.59 -0.31 -0.75 4.00
2020-03-28
2019-12-31 -0.52 -0.49 -0.55 5.00
NasdaqGM:AFMD Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30 -0.17
2019-06-30 -0.19
2019-03-31 -0.15
2018-12-31 -0.32
2018-09-30 -0.62
2018-06-30 -0.59
2018-03-31 -0.65
2017-12-31 -0.69
2017-09-30 -0.71
2017-06-30 -0.83
2017-03-31 -0.90
2016-12-31 -0.97

*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 Affimed will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Affimed'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 United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America 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.
Affimed 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.

Past Performance

  How has Affimed 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 Affimed'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.
  • Affimed does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Affimed's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Affimed's 1-year growth to the US Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Affimed'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 Affimed Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:AFMD Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 40.22 -10.61 11.01 42.67
2019-06-30 38.42 -11.75 10.61 40.73
2019-03-31 34.57 -9.42 10.44 36.34
2018-12-31 23.75 -19.48 10.04 34.75
2018-09-30 1.82 -34.66 8.83 27.60
2018-06-30 1.98 -30.74 8.32 23.82
2018-03-31 2.34 -30.67 8.12 22.10
2017-12-31 2.21 -30.22 8.33 21.14
2017-09-30 2.75 -29.22 8.47 22.31
2017-06-30 3.24 -31.42 8.78 25.06
2017-03-31 4.84 -31.51 8.77 28.26
2016-12-31 6.49 -32.22 8.62 29.88
2016-09-30 6.77 -33.07 8.46 31.22
2016-06-30 7.26 -30.07 8.35 28.91
2016-03-31 7.47 -27.22 8.06 25.89
2015-12-31 8.21 -20.24 7.82 21.74
2015-09-30 6.77 -19.26 7.58 18.86
2015-06-30 7.32 -4.64 5.76 14.59
2015-03-31 5.76 13.90 -0.30 6.93
2014-12-31 3.76 -0.26 2.59 9.35
2014-09-30 8.33 2.49 1.54 10.65
2014-06-30 6.63 -16.39 5.23 11.26
2014-03-31 6.24 -38.10 11.12 17.55
2013-12-31 5.73 -26.10 7.30 14.10

*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 Affimed has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Affimed has efficiently used its assets last year compared to the US Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Affimed 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 Affimed'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.
Affimed 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.

Health

 How is Affimed'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 Affimed's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Affimed is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Affimed's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Affimed'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 24.4x 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 Affimed Company Filings, last reported 5 months ago.

NasdaqGM:AFMD Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 22.23 3.26 76.53
2019-06-30 32.85 3.88 87.71
2019-03-31 42.66 4.04 95.13
2018-12-31 40.13 4.77 94.83
2018-09-30 35.85 5.33 37.08
2018-06-30 47.18 5.95 47.41
2018-03-31 54.26 6.57 55.34
2017-12-31 31.58 7.17 39.84
2017-09-30 33.81 7.18 41.81
2017-06-30 40.13 7.03 48.87
2017-03-31 47.59 4.69 53.68
2016-12-31 38.75 4.59 35.41
2016-09-30 43.20 3.64 49.13
2016-06-30 52.56 4.28 58.62
2016-03-31 59.76 4.43 66.75
2015-12-31 67.27 4.58 76.74
2015-09-30 53.72 4.37 60.43
2015-06-30 60.35 4.34 66.32
2015-03-31 30.65 4.51 37.03
2014-12-31 31.80 3.90 39.73
2014-09-30 37.78 3.80 45.55
2014-06-30 -101.52 85.44 1.80
2014-03-31 -114.87 84.08 5.04
2013-12-31 -99.22 82.75 4.15
  • Affimed's level of debt (14.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (10.1% vs 14.7% 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.

  • Whilst loss making Affimed has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Affimed has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -22.5% per year.
X
Financial health checks
We assess Affimed'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. Affimed 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.

Dividends

 What is Affimed'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 Affimed dividends.
If you bought $2,000 of Affimed 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 Affimed's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Affimed'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
NasdaqGM:AFMD 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
Global Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 65 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1956 Stocks 2.9%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.9%
United States of America Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

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

NasdaqGM:AFMD 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
2020-12-31
2020-03-28
2019-12-31

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

  • Unable to perform a dividend volatility check as Affimed has not reported any payouts.
  • Unable to verify if Affimed's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Affimed's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Affimed 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 Affimed's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Affimed afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Affimed 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.

Management

 What is the CEO of Affimed'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
Adi Hoess
COMPENSATION €1,352,000
AGE 57
TENURE AS CEO 8.5 years
CEO Bio

Dr. Adi Hoess, M.D., Ph.D., has been the Chief Executive Officer of Affimed N.V. since September 2011 and serves as its Managing Director and Member of Management Board. Dr. Hoess served as Chief Commercial Development Officer of Jerini AG from January 2003 to October 2008. Dr. Hoess served as the Chief Business Officer of Jerini AG and served as its Member of the Management Board until October 2008. He joined MorphoSys in 1993 where he served as a Director of Business Development since 1997 and then Vice President of Licensing/ Business Development. He was responsible for the closing of over 20 collaboration and licensing agreements at MorphoSys. In January 2001, Dr. Hoess joined Carl Zeiss Jena as Vice President and General Manager of the Molecular Medicine Business Division. He has been a Director of Amphivena Therapeutics Inc. He won a 5-year post-doctoral fellowship from the German Cancer Research Center for work at the Dana-Farber Cancer Institute at Harvard Medical School and work at the Medical Research Institute of the Technical University of Munich. During this time, he was the first person to determine the structure and function of an endotoxin-neutralizing protein. In March 1997, he received an M.D. degree. Dr. Hoess studied biochemistry at the Ludwig Maximilian University in Munich, graduating in 1987. He completed his Ph.D. in 1990.

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

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

6.8
Average Tenure
52
Average Age
  • The average tenure for the Affimed management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Adi Hoess

TITLE
CEO, MD & Member of Management Board
COMPENSATION
€1M
AGE
57
TENURE
8.5 yrs

Wolfgang Fischer

TITLE
MD, COO & Member of Management Board
COMPENSATION
€686K
AGE
55

Melvyn Little

TITLE
Founder & Consultant
TENURE
20.2 yrs

Michael Wolf

TITLE
Head of Finance & Administration
AGE
52
TENURE
5.2 yrs

Greg Gin

TITLE
Head of Investor Relations
TENURE
2.2 yrs

Uwe Reusch

TITLE
Head of Cell Culture

Stefan Knackmuss

TITLE
Head of Antibody Screening

Sergey Kipriyanov

TITLE
Head of Research and Development

Erich Rajkovic

TITLE
Head of Research Operations and Intellectual Property
AGE
40
TENURE
4.2 yrs

Claudia Wall

TITLE
Head of Project Management Regulatory Affairs & Quality Management
AGE
52
TENURE
12.2 yrs
Board of Directors Tenure

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

5.7
Average Tenure
70
Average Age
  • The tenure for the Affimed board of directors is about average.
Board of Directors

Thomas Hecht

TITLE
Chairman of Supervisory Board
COMPENSATION
€152K
AGE
68
TENURE
6.2 yrs

Ulrich Grau

TITLE
Member of Supervisory Board
COMPENSATION
€85K
AGE
70
TENURE
4.7 yrs

Ferdinand Verdonck

TITLE
Member of Supervisory Board
COMPENSATION
€77K
AGE
77
TENURE
5.7 yrs

Miroslav Ravic

TITLE
Member of Scientific Advisory Board
AGE
70

Andreas Engert

TITLE
Member of Scientific Advisory Board

Max Topp

TITLE
Member of Scientific Advisory Board

Christian Hucke

TITLE
Member of Scientific Advisory Board

Susanne Becker

TITLE
Member of Scientific Advisory Board

Anton Hagenbeek

TITLE
Member of Scientific Advisory Board

Franck Morschhauser

TITLE
Member of Scientific Advisory Board
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
18. Nov 19 Buy New Enterprise Associates, Inc. Company 08. Nov 19 08. Nov 19 987,600 $2.50 $2,469,000
11. Apr 19 Sell SGR Sagittarius Holding AG Company 09. Apr 19 10. Apr 19 -436,145 $4.18 $-1,804,323
09. Apr 19 Sell SGR Sagittarius Holding AG Company 05. Apr 19 08. Apr 19 -651,159 $4.06 $-2,627,983
05. Apr 19 Sell SGR Sagittarius Holding AG Company 02. Apr 19 04. Apr 19 -647,600 $4.18 $-2,699,094
02. Apr 19 Sell SGR Sagittarius Holding AG Company 27. Mar 19 01. Apr 19 -936,161 $4.23 $-3,910,752
X
Management checks
We assess Affimed'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. Affimed 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.

News

Simply Wall St News

Update: Affimed (NASDAQ:AFMD) Stock Gained 90% In The Last Year

View our latest analysis for Affimed Given that Affimed didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. … Affimed grew its revenue by 1841% last year. … The solid 90% share price gain goes down pretty well, but it's not necessarily as good as you might expect given the top notch revenue growth.

Simply Wall St -

Is Affimed N.V.'s (NASDAQ:AFMD) CEO Overpaid Relative To Its Peers?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … Check out our latest analysis for Affimed How Does Adi Hoess's Compensation Compare With Similar Sized Companies? … pays Adi Hoess more than the median CEO remuneration at companies of a similar size, in the same market.

Simply Wall St -

Do Directors Own Affimed N.V. (NASDAQ:AFMD) Shares?

Insider Ownership Of Affimed The definition of company insiders can be subjective, and does vary between jurisdictions. … General Public Ownership The general public -- mostly retail investors -- own 56% of Affimed. … But other times, private equity is selling out, having taking the company public.

Simply Wall St -

Does Affimed's (NASDAQ:AFMD) Share Price Gain of 60% Match Its Business Performance?

When a company doesn't make profits, we'd generally expect to see good revenue growth. … Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth. … Affimed grew its revenue by 977% last year.

Simply Wall St -

Do Institutions Own Shares In Affimed N.V. (NASDAQ:AFMD)?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Taking a look at our data on the ownership groups (below), it's seems that. … institutions own shares in the company.

Simply Wall St -

Is Affimed NV's (NASDAQ:AFMD) CEO Salary Justified?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … According to our data, Affimed NV has a market capitalization of US$292m, and pays its CEO total annual compensation worth €1.4m. … When we examined a selection of companies with market caps ranging from €88m to €352m, we found the median CEO compensation was €829k.

Simply Wall St -

Breakeven On The Horizon For Affimed NV (NASDAQ:AFMD)

With the latest financial year loss of -US$30.22m and a trailing-twelve month of -US$30.67m, the US$104.50m market-cap amplifies its loss by moving further away from its breakeven target? … The most pressing concern for investors is AFMD’s path to profitability – when will it breakeven … In this article, I will touch on the expectations for AFMD’s growth and when analysts expect the company to become profitable.

Simply Wall St -

When Will Affimed NV. (NASDAQ:AFMD) Breakeven?

See our latest analysis for Affimed AFMD is bordering on breakeven, according to analysts. … How fast will AFMD have to grow each year in order to reach the breakeven point by 2022? … For a more comprehensive look at AFMD, take a look at AFMD’s company page on Simply Wall St.

Simply Wall St -

What You Must Know About Affimed NV.'s (NASDAQ:AFMD) Market Risks

A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … AFMD, with its market capitalisation of US$137.26M, is a small-cap stock, which generally have higher beta than similar companies of larger size. … Therefore, this is a type of risk which is associated with higher beta.

Simply Wall St -

Why Affimed NV.'s (NASDAQ:AFMD) Ownership Structure Is Important

In this article, I'm going to take a look at Affimed NV.’s (NASDAQ:AFMD) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Insider Ownership Insiders form another group of important ownership types as they manage the company's operations and decide the best use of capital. … General Public Ownership The general public holds a substantial 45.11% stake in AFMD, making it a highly popular stock among retail investors.

Simply Wall St -

Company Info

Description

Affimed N.V., a clinical-stage biopharmaceutical company, focuses on discovering and developing cancer immunotherapies in the United States, Europe, and Germany. Its lead product candidate is AFM13, a natural killer cell (NK-cell) TandAb, which is in Phase 2a clinical study of relapsed CD30-positive lymphoma and Phase 1b clinical study of anti-PD-1 antibody Keytruda (pembrolizumab) in patients with relapsed Hodgkin lymphoma. The company’s products include AFM24, an innate cell-engaging bispecific antibody that treats patients suffering of EGFR expressing solid tumors; AFM26, which binds to B cell maturation antigen (BCMA) for the treatment of multiple myeloma; and Trispecific Abs for the treatment of multiple myeloma. Its products also comprise AFM11, a T cell TandAb, which is in Phase 1 clinical trial in patients with relapsed CD19+ B cell malignancies, including non-Hodgkin Lymphoma and acute lymphocytic leukemia (AML); and AMV564, a CD33/CD3-specific T-cell TandAb is in Phase 1 clinical study of refractory AML. The company has license agreements with Amphivena Therapeutics, Inc., Deutsches Krebsforschungszentrum, and Xoma Ireland Limited; research funding agreement with The Leukemia & Lymphoma Society; and collaboration with Merck Sharp & Dohme B.V. It also has a clinical development and commercialization collaboration with The University of Texas MD Anderson Cancer Center to evaluate AFM13 in combination with MD Anderson’s NK-cell product; and Genentech. The company was formerly known as Affimed Therapeutics B.V. and changed its name to Affimed N.V. in October 2014. Affimed N.V. was founded in 2000 and is headquartered in Heidelberg, Germany.

Details
Name: Affimed N.V.
AFMD
Exchange: NasdaqGM
Founded: 2000
$118,934,732
76,240,213
Website: http://www.affimed.com
Address: Affimed N.V.
Technologiepark,
Im Neuenheimer Feld 582,
Heidelberg,
Baden-Württemberg, 69120,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM AFMD Common Shares Nasdaq Global Market US USD 12. Sep 2014
DB A28 Common Shares Deutsche Boerse AG DE EUR 12. Sep 2014
LSE 0HL9 Common Shares London Stock Exchange GB USD 12. Sep 2014
Number of employees
Current staff
Staff numbers
103
Affimed employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 02:24
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/20
Last earnings filing: 2019/11/19
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


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.