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Aastrom Biosciences Inc
ASTM : NASDAQ : Health Care
$2.92 -0.03 | -1.02%
Today's Range: 2.91 - 2.98
Avg. Daily Volume: 222,500
10/30/14 - 12:56 PM ET

Financial Analysis


AASTROM BIOSCIENCES INC's gross profit margin for the second quarter of its fiscal year 2014 has significantly increased when compared to the same period a year ago. The company grew its sales and net income significantly quarter versus same quarter a year prior, and was able to outpace the average competitor in the industry when comparing revenue growth, but not when comparing net income growth. AASTROM BIOSCIENCES INC has weak liquidity. Currently, the Quick Ratio is 0.68 which shows a lack of ability to cover short-term cash needs.

At the same time, stockholders' equity ("net worth") has greatly increased by 51.27% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q2 FY14 Q2 FY13
Net Sales ($mil)4.430.0
EBITDA ($mil)-5.37-5.11
EBIT ($mil)-5.52-5.23
Net Income ($mil)-4.64-4.89


Balance Sheet Q2 FY14 Q2 FY13
Cash & Equiv. ($mil)7.264.49
Total Assets ($mil)19.845.68
Total Debt ($mil)2.50.02
Equity ($mil)2.791.84


Profitability Q2 FY14 Q2 FY13
Gross Profit Margin-121.1-170300.0
EBITDA Margin-121.09-170300.0
Operating Margin-124.46-174466.67
Sales Turnover0.220.01
Return on Assets-79.76-406.77
Return on Equity-771.59-1529.98
Debt Q2 FY14 Q2 FY13
Current Ratio0.831.23
Debt/Capital0.470.01
Interest Expense0.00.0
Interest Coverage-5516.0-1744.67


Share Data Q2 FY14 Q2 FY13
Shares outstanding (mil)7.022.28
Div / share0.00.0
EPS-0.94-2.8
Book value / share0.40.81
Institutional Own % n/a n/a
Avg Daily Volume215175.0205803.0

Valuation


SELL. The current P/E ratio is negative, which has no meaningful value in the assessment of premium or discount valuation, it simply displays that the company has negative earnings. To use another comparison, its price-to-book ratio of 7.41 indicates a significant premium versus the S&P 500 average of 2.61 and a significant discount versus the industry average of 11.82. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. After reviewing these and other key valuation criteria, AASTROM BIOSCIENCES INC proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
ASTM NM Peers 53.09   ASTM NM Peers 37.30

Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings.

ASTM's P/E is negative making this valuation measure meaningless.

 

Neutral. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

ASTM's P/CF is negative making the measure meaningless.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
ASTM NM Peers 34.37   ASTM NA Peers 1.20

Neutral. The absence of a valid price-to-projected earnings ratio happens when a stock can not be valued on the basis of a negative expected future earnings.

ASTM's ratio is negative making this valuation measure meaningless.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

Ratio not available.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
ASTM 7.41 Peers 11.82   ASTM 65.94 Peers 19.73

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

ASTM is trading at a significant discount to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

ASTM is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
ASTM 4.65 Peers 99.71   ASTM 14700.00 Peers 352.47

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

ASTM is trading at a significant discount to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

ASTM has a sales growth rate that significantly exceeds its peers.

 

 

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