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Meridian Bioscience Inc
VIVO : NASDAQ : Health Care
$17.59 up0.10 | 0.57%
Today's Range: 17.48 - 17.70
Avg. Daily Volume: 246,800
10/09/15 - 3:59 PM ET

Financial Analysis

MERIDIAN BIOSCIENCE INC's gross profit margin for the third quarter of its fiscal year 2015 is essentially unchanged when compared to the same period a year ago. The company has grown its sales and net income during the past quarter when compared with the same quarter a year ago, and although its growth in net income has outpaced the industry average, its revenue growth has not. MERIDIAN BIOSCIENCE INC is extremely liquid. Currently, the Quick Ratio is 5.56 which clearly shows the ability to cover any short-term cash needs. VIVO managed to increase the liquidity from the same period a year ago, despite already having very strong liquidity to begin with. This would indicate improved cash flow.

At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 1.30% 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 Q3 FY15 Q3 FY14
Net Sales ($mil)48.247.21
EBITDA ($mil)15.5614.52
EBIT ($mil)14.413.13
Net Income ($mil)9.18.84

Balance Sheet Q3 FY15 Q3 FY14
Cash & Equiv. ($mil)45.9839.29
Total Assets ($mil)179.32178.76
Total Debt ($mil)0.00.0
Equity ($mil)163.93161.82

Profitability Q3 FY15 Q3 FY14
Gross Profit Margin65.3364.87
EBITDA Margin32.2730.74
Operating Margin29.8727.81
Sales Turnover1.081.07
Return on Assets19.6619.97
Return on Equity21.522.06
Debt Q3 FY15 Q3 FY14
Current Ratio8.886.7
Interest Expense0.00.0
Interest Coverage0.00.0

Share Data Q3 FY15 Q3 FY14
Shares outstanding (mil)41.7141.56
Div / share0.20.2
Book value / share3.933.89
Institutional Own % n/a n/a
Avg Daily Volume253678.0248712.0


BUY. The current P/E ratio indicates a significant discount compared to an average of 33.47 for the Health Care Equipment & Supplies industry and a value on par with the S&P 500 average of 19.38. To use another comparison, its price-to-book ratio of 4.33 indicates a significant premium versus the S&P 500 average of 2.58 and a significant discount versus the industry average of 14.77. The price-to-sales ratio is well above the S&P 500 average, but well below the industry average. Upon assessment of these and other key valuation criteria, MERIDIAN BIOSCIENCE INC proves to trade at a discount to investment alternatives within the industry.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
VIVO 20.04 Peers 33.47   VIVO 15.50 Peers 24.35

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.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
VIVO 19.35 Peers 22.74   VIVO 5.55 Peers 0.78

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

VIVO is trading at a discount to 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.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
VIVO 4.33 Peers 14.77   VIVO 0.00 Peers 7.03

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.

VIVO is trading at a significant discount to its peers.


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

The growth rate for VIVO is not available.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
VIVO 3.65 Peers 5.44   VIVO 1.75 Peers 14.15

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.

VIVO 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.

VIVO significantly trails its peers on the basis of sales growth



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