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Dyax Corp
DYAX : NASDAQ : Health Care
$12.23 0.49 | 4.17%
Today's Range: 11.55 - 12.30
Avg. Daily Volume: 974,600
10/30/14 - 12:11 PM ET

Financial Analysis


DYAX CORP's gross profit margin for the third 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.

At the same time, stockholders' equity ("net worth") has greatly increased by 370.91% from the same quarter last year.

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Income Statement Q3 FY14 Q3 FY13
Net Sales ($mil)21.9913.69
EBITDA ($mil)0.0-3.42
EBIT ($mil)1.86-3.64
Net Income ($mil)-0.82-6.19


Balance Sheet Q3 FY14 Q3 FY13
Cash & Equiv. ($mil)187.8847.14
Total Assets ($mil)211.8470.64
Total Debt ($mil)82.082.4
Equity ($mil)105.12-38.8


Profitability Q3 FY14 Q3 FY13
Gross Profit Margin8.45-24.95
EBITDA Margin0.0-24.95
Operating Margin8.45-26.59
Sales Turnover0.340.75
Return on Assets-5.45-43.38
Return on Equity-10.980.0
Debt Q3 FY14 Q3 FY13
Current Ratio0.03.33
Debt/Capital0.441.89
Interest Expense2.762.74
Interest Coverage0.67-1.33


Share Data Q3 FY14 Q3 FY13
Shares outstanding (mil)136.03110.35
Div / share0.00.0
EPS-0.01-0.06
Book value / share0.77-0.35
Institutional Own % n/a n/a
Avg Daily Volume1001334.01259109.0

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. For additional comparison, its price-to-book ratio of 14.51 indicates a significant premium versus the S&P 500 average of 2.66 and a significant premium versus the industry average of 12.55. 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, DYAX CORP proves to trade at a premium 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
DYAX NM Peers 52.28   DYAX NA Peers 66.14

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.

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

 

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

Ratio not available.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
DYAX NM Peers 35.26   DYAX NA Peers 1.21

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.

DYAX'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
DYAX 14.51 Peers 12.55   DYAX 66.67 Peers 31.58

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

DYAX is trading at a premium to its peers.

 

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

DYAX 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
DYAX 21.02 Peers 108.51   DYAX 36.64 Peers 345.33

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.

DYAX 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.

DYAX significantly trails its peers on the basis of sales growth

 

 

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