MannKind Corp

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MNKD : NASDAQ : Health Care
$0.5141 | %
Today's Range: 0.4924 - 0.519
Avg. Daily Volume: 5264900.0
02/24/17 - 4:00 PM ET

Financial Analysis


MANNKIND CORP's gross profit margin for the third quarter of its fiscal year 2016 has significantly increased 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 very weak liquidity. Currently, the Quick Ratio is 0.37 which clearly shows a lack of ability to cover 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 significantly decreased by 91.61% from the same quarter last year. The key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the near future.

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Income Statement Q3 FY16 Q3 FY15
Net Sales ($mil)162.350.0
EBITDA ($mil)120.33-19.64
EBIT ($mil)119.73-22.8
Net Income ($mil)126.52-31.86


Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)35.5332.93
Total Assets ($mil)96.13278.01
Total Debt ($mil)219.25194.94
Equity ($mil)-238.69-124.57


Profitability Q3 FY16 Q3 FY15
Gross Profit Margin74.110.0
EBITDA Margin74.110.0
Operating Margin73.750.0
Sales Turnover1.690.0
Return on Assets-213.59-45.99
Return on Equity0.00.0
Debt Q3 FY16 Q3 FY15
Current Ratio0.460.27
Debt/Capital-11.282.77
Interest Expense4.94.88
Interest Coverage24.46-4.68


Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)478.36418.26
Div / share0.00.0
EPS0.26-0.08
Book value / share-0.5-0.3
Institutional Own % n/a n/a
Avg Daily Volume5030572.04314397.0

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. Along with this, the price-to-book ratio is also meaningless due to a negative book value for the company, making any comparisons useless. The price-to-sales ratio is below the S&P 500 average and is well below the industry average, indicating a discount.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
MNKD NM Peers 37.42   MNKD NM Peers 19.90

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.

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

 

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 41.46   MNKD NA Peers 0.53

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

MNKD is trading at a significant discount to its peers.

 

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
MNKD NM Peers 11.06   MNKD -65.62 Peers 125.26

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 significantly 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 1.59 Peers 146.34   MNKD NA Peers 626.06

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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