MannKind Corp

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MNKD : NASDAQ : Health Care
$0.925 | %
Today's Range: 0.885 - 1.09
Avg. Daily Volume: 1481200.0
04/21/17 - 4:00 PM ET

Financial Analysis


MANNKIND CORP's gross profit margin for the fourth quarter of its fiscal year 2016 has significantly decreased when compared to the same period a year ago. Even though it increased sales and net income significantly, the company was unable to grow at a faster pace than its industry competitors. MANNKIND CORP has weak liquidity. Currently, the Quick Ratio is 0.58 which shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.

At the same time, stockholders' equity ("net worth") has greatly increased by 47.59% 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 Q4 FY16 Q4 FY15
Net Sales ($mil)12.40.0
EBITDA ($mil)-15.65-60.87
EBIT ($mil)-16.27-63.58
Net Income ($mil)53.97-277.02


Balance Sheet Q4 FY16 Q4 FY15
Cash & Equiv. ($mil)22.959.07
Total Assets ($mil)107.06126.41
Total Debt ($mil)148.5214.09
Equity ($mil)-183.59-350.33


Profitability Q4 FY16 Q4 FY15
Gross Profit Margin-126.140.0
EBITDA Margin-126.140.0
Operating Margin-131.180.0
Sales Turnover1.630.0
Return on Assets117.37-291.46
Return on Equity0.00.0
Debt Q4 FY16 Q4 FY15
Current Ratio0.840.29
Debt/Capital-4.23-1.57
Interest Expense3.744.06
Interest Coverage-4.35-15.65


Share Data Q4 FY16 Q4 FY15
Shares outstanding (mil)95.6885.73
Div / share0.00.0
EPS0.55-3.3
Book value / share-1.92-4.09
Institutional Own % n/a n/a
Avg Daily Volume2893242.05190782.0

Valuation


SELL. MANNKIND CORP's P/E ratio indicates a significant discount compared to an average of 37.21 for the Biotechnology industry and a significant discount compared to the S&P 500 average of 24.92. Normally, for additional comaprison, we would look at the price-to-book ratio; however, this company's price-to-book ratio is negative making the value useless for comparisons. The price-to-sales ratio is well below both the S&P 500 average and the industry average, indicating a discount. After reviewing these and other key valuation criteria, MANNKIND 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
MNKD 0.89 Peers 37.21   MNKD NM Peers 24.72

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

MNKD is trading at a significant discount to its peers.

 

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.

MNKD'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
MNKD NM Peers 43.15   MNKD NM Peers 0.49

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.

MNKD'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.

MNKD's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
MNKD NM Peers 11.43   MNKD 126.96 Peers 149.25

Neutral. 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.

MNKD's P/B is negative making this valuation measure meaningless.

 

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

However, MNKD is expected to trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
MNKD 0.59 Peers 191.95   MNKD NA Peers 395.13

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.

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

 

Neutral. Comparing a company's sales growth to its industry helps to determine if the company is adding or losing market share.

The growth rate for MNKD is not available.

 

 

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