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TheStreet Open House
Dynavax Technologies Corp
DVAX : NASDAQ : Health Care
$1.42 | %
Today's Range: 0.00 - 0.00
Avg. Daily Volume: 1,737,100
09/22/14 - 3:59 PM ET

Financial Analysis


DYNAVAX TECHNOLOGIES CORP's gross profit margin for the second quarter of its fiscal year 2014 has significantly decreased when compared to the same period a year ago. Sales and net income have dropped, underperforming the average competitor within its industry. DYNAVAX TECHNOLOGIES CORP is extremely liquid. Currently, the Quick Ratio is 7.71 which clearly shows the ability to cover any short-term cash needs. The company's liquidity has increased from the same period last year.

At the same time, stockholders' equity ("net worth") has greatly increased by 77.97% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is very unlikely to face financial difficulties in the near future.

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Income Statement Q2 FY14 Q2 FY13
Net Sales ($mil)3.053.39
EBITDA ($mil)-24.51-13.72
EBIT ($mil)-24.85-14.05
Net Income ($mil)-24.78-17.16


Balance Sheet Q2 FY14 Q2 FY13
Cash & Equiv. ($mil)154.3189.16
Total Assets ($mil)173.47104.01
Total Debt ($mil)0.00.0
Equity ($mil)150.6784.66


Profitability Q2 FY14 Q2 FY13
Gross Profit Margin-804.23-404.54
EBITDA Margin-804.23-404.54
Operating Margin-815.42-414.18
Sales Turnover0.070.1
Return on Assets-38.82-73.37
Return on Equity-50.31-90.15
Debt Q2 FY14 Q2 FY13
Current Ratio7.966.2
Debt/Capital0.00.0
Interest Expense0.00.0
Interest Coverage0.00.0


Share Data Q2 FY14 Q2 FY13
Shares outstanding (mil)262.88182.99
Div / share0.00.0
EPS-0.09-0.09
Book value / share0.570.46
Institutional Own % n/a n/a
Avg Daily Volume1712500.02255307.0

Valuation


SELL. This stock?s P/E ratio is negative, making its value useless in the assessment of premium or discount valuation, only displaying that the company has negative earnings per share. To use another comparison, its price-to-book ratio of 2.36 indicates a discount versus the S&P 500 average of 2.76 and a significant discount versus the industry average of 12.28. 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, DYNAVAX TECHNOLOGIES CORP 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
DVAX NM Peers 82.53   DVAX NM Peers 48.17

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.

DVAX'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.

DVAX'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
DVAX NM Peers 40.91   DVAX NA Peers 1.23

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.

DVAX'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
DVAX 2.36 Peers 12.28   DVAX 21.96 Peers 18.97

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.

DVAX 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.

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

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
DVAX 28.81 Peers 121.03   DVAX 21.29 Peers 382.14

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.

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

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

DVAX significantly trails its peers on the basis of sales growth

 

 

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