Avid Bioservices Inc.
Find Ratings ReportsAVID BIOSERVICES INC's gross profit margin for the second quarter of its fiscal year 2023 has significantly decreased when compared to the same period a year ago. Sales and net income fell significantly, underperforming compared to the average company in its subsector. AVID BIOSERVICES INC has weak liquidity. Currently, the Quick Ratio is 0.72 which shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.
At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 1.36% 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 FY23 | Q2 FY22 |
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Net Sales ($mil) | 25.4 | 34.76 |
EBITDA ($mil) | -8.44 | -0.87 |
EBIT ($mil) | -11.22 | -2.68 |
Net Income ($mil) | -9.51 | -1.16 |
Balance Sheet | Q2 FY23 | Q2 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 31.42 | 77.29 |
Total Assets ($mil) | 454.64 | 441.85 |
Total Debt ($mil) | 196.7 | 181.91 |
Equity ($mil) | 183.68 | 181.2 |
Profitability | Q2 FY23 | Q2 FY22 |
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Gross Profit Margin | -7.41 | 17.16 |
EBITDA Margin | -33.22 | -2.48 |
Operating Margin | -44.19 | -7.72 |
Sales Turnover | 0.31 | 0.3 |
Return on Assets | -2.51 | 26.76 |
Return on Equity | -6.23 | 65.26 |
Debt | Q2 FY23 | Q2 FY22 |
---|---|---|
Current Ratio | 1.35 | 1.77 |
Debt/Capital | 0.52 | 0.5 |
Interest Expense | 0.81 | 0.7 |
Interest Coverage | -13.94 | -3.82 |
Share Data | Q2 FY23 | Q2 FY22 |
---|---|---|
Shares outstanding (mil) | 63.23 | 62.31 |
Div / share | 0.0 | 0.0 |
EPS | -0.15 | -0.02 |
Book value / share | 2.9 | 2.91 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 1552059.0 | 1212349.0 |
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. For additional comparison, its price-to-book ratio of 2.10 indicates a significant discount versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 19.07. The price-to-sales ratio is similar to the S&P 500 average, but it is significantly below the subsector average, indicating a discount. After reviewing these and other key valuation criteria, AVID BIOSERVICES INC proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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CDMO NM | Peers 85.83 | CDMO 223.40 | Peers 38.76 | |||||||||||||||||||||
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. CDMO's P/E is negative making this valuation measure meaningless. |
Premium. 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. CDMO is trading at a significant premium to its peers. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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CDMO NM | Peers 18.08 | CDMO NA | Peers 1.16 | |||||||||||||||||||||
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. CDMO'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. |
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Price/Book |
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Earnings Growth |
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CDMO 2.10 | Peers 19.07 | CDMO -109.94 | Peers 12.58 | |||||||||||||||||||||
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. CDMO is trading at a significant discount to its peers. |
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. However, CDMO is expected to significantly trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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CDMO 2.73 | Peers 84.44 | CDMO 5.03 | Peers 42.35 | |||||||||||||||||||||
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. CDMO is trading at a significant discount to its subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. CDMO significantly trails its peers on the basis of sales growth. |
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