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Meridian Bioscience Inc
VIVO : NASDAQ : Health Care
$19.85 -0.84 | -4.06%
Today's Range: 19.76 - 21.49
Avg. Daily Volume: 248,400
04/28/16 - 3:59 PM ET

Financial Analysis


MERIDIAN BIOSCIENCE INC's gross profit margin for the first quarter of its fiscal year 2016 has increased when compared to the same period a year ago. Even though sales decreased, the net income has increased, representing an increase to the bottom line. MERIDIAN BIOSCIENCE INC is extremely liquid. Currently, the Quick Ratio is 5.15 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 remained virtually unchanged only increasing by 4.80% 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 Q1 FY16 Q1 FY15
Net Sales ($mil)47.1648.01
EBITDA ($mil)14.8714.07
EBIT ($mil)13.5912.67
Net Income ($mil)8.897.9


Balance Sheet Q1 FY16 Q1 FY15
Cash & Equiv. ($mil)53.4249.52
Total Assets ($mil)186.44177.44
Total Debt ($mil)0.00.0
Equity ($mil)168.57160.85


Profitability Q1 FY16 Q1 FY15
Gross Profit Margin69.6963.8
EBITDA Margin31.5329.29
Operating Margin28.8126.39
Sales Turnover1.041.08
Return on Assets19.5919.84
Return on Equity21.6721.89
Debt Q1 FY16 Q1 FY15
Current Ratio7.837.88
Debt/Capital0.00.0
Interest Expense0.00.0
Interest Coverage0.00.0


Share Data Q1 FY16 Q1 FY15
Shares outstanding (mil)42.0441.7
Div / share0.20.2
EPS0.210.19
Book value / share4.013.86
Institutional Own % n/a n/a
Avg Daily Volume247401.0255761.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 51.72 for the Health Care Equipment & Supplies industry and a value on par with the S&P 500 average of 24.17. Conducting a second comparison, its price-to-book ratio of 5.05 indicates a significant premium versus the S&P 500 average of 2.76 and a premium versus the industry average of 4.63. The current price-to-sales ratio is well above the S&P 500 average, but below the industry average. The valuation analysis reveals that, MERIDIAN BIOSCIENCE INC seems to be trading 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
VIVO 23.25 Peers 51.72   VIVO 21.87 Peers 29.50

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

VIVO is trading at a significant discount to its peers.

 

Discount. 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.

VIVO is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
VIVO 21.75 Peers 23.43   VIVO 6.61 Peers 0.99

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

VIVO is trading at a valuation on par with its peers.

 

Premium. 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.

VIVO trades at a significant premium to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
VIVO 5.05 Peers 4.63   VIVO 3.57 Peers -5.86

Average. 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.

VIVO is trading at a valuation on par with its peers.

 

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

VIVO 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
VIVO 4.38 Peers 4.62   VIVO 1.00 Peers 20.28

Average. 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.

VIVO is trading at a valuation on par with its industry on this measurement.

 

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

VIVO significantly trails its peers on the basis of sales growth

 

 

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