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Post by cppoly on Aug 8, 2024 8:05:22 GMT -5
According to Yahoo finance, we have a PE ratio of 100, lol what?
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Post by BD on Aug 8, 2024 8:16:54 GMT -5
Yeah. There was another post about weirdness at Yahoo Finance and my suggestion is to not consider Yahoo to be an “analyst”.
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Post by wanderer on Aug 8, 2024 8:50:28 GMT -5
I'm seeing current PE at 102 which makes sense ($5.1/$.05) and forward in the 37 range. Sounds about right.
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Post by neil36 on Aug 8, 2024 9:01:23 GMT -5
According to Yahoo finance, we have a PE ratio of 100, lol what? Not sure which twelve months period they are looking at, but GAAP earnings of roughly five cents against a five dollar stock price produces a PE of 100 But at this stage of the game, the PE ratio is pretty meaningless due to the miniscule profits. The good news is that in the history of this stock, there are finally positive earnings where we can actually start calculating a PE ratio. FWIW, the analysis page shows the average 2025 earnings estimate of the four analysts is $0.26. A multiple of 20 produces a stock price of $5.20. I multiple of 30 produces a stock price of $7.80. Biotech companies with solid growth usually command even higher multiples. As I've said yesterday, I'm ignoring the GAAP loss and am focused on the non-GAAP five cent profit and the substantial beat on revenue. |
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Post by tarheelblue004 on Aug 8, 2024 10:51:07 GMT -5
5 cents is just for one quarter, earnings in PE ratio are for a full year. So earnings for forward PE would be 20 cents + (if using non-GAAP), while earnings for backward PE would be lower.
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Post by prcgorman2 on Aug 8, 2024 11:01:06 GMT -5
According to Yahoo finance, we have a PE ratio of 100, lol what? In researching P/E ratios some years back I saw that there are industry-specific P/E ranges and that the ranges for BP tend to be high and what I read gave examples where the high-end included examples with a P/E of 70, and the average low-end was 40. I've always hoped that was fairly constant because I don't want to re-research it and find it's lower.  |
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Post by ktim on Aug 8, 2024 12:07:25 GMT -5
According to Yahoo finance, we have a PE ratio of 100, lol what? Not sure which twelve months period they are looking at, but GAAP earnings of roughly five cents against a five dollar stock price produces a PE of 100 But at this stage of the game, the PE ratio is pretty meaningless due to the miniscule profits. The good news is that in the history of this stock, there are finally positive earnings where we can actually start calculating a PE ratio. FWIW, the analysis page shows the average 2025 earnings estimate of the four analysts is $0.26. A multiple of 20 produces a stock price of $5.20. I multiple of 30 produces a stock price of $7.80. Biotech companies with solid growth usually command even higher multiples.
As I've said yesterday, I'm ignoring the GAAP loss and am focused on the non-GAAP five cent profit and the substantial beat on revenue. Right now the IBB is significantly lower PE than the S&P. In case you haven't followed, biotech really hasn't been doing well past few years. Good news on that is that the general underperformance of biotech could be a source of price appreciation for MNKD... IF sentiment improves for the sector. |
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Post by ktim on Aug 8, 2024 12:09:42 GMT -5
According to Yahoo finance, we have a PE ratio of 100, lol what? In researching P/E ratios some years back I saw that there are industry-specific P/E ranges and that the ranges for BP tend to be high and what I read gave examples where the high-end included examples with a P/E of 70, and the average low-end was 40. I've always hoped that was fairly constant because I don't want to re-research it and find it's lower. Type in IBB in your favorite market site, THE biotech sector ETF. The research takes 5 seconds. The PE is currently 18 compared to SPY at 26. This may be on the historical low end of sentiment for biotech compared to broader markets, but it seems when you "researched" it, biotech may have been at an extreme high. |
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Post by prcgorman2 on Aug 8, 2024 12:43:25 GMT -5
In researching P/E ratios some years back I saw that there are industry-specific P/E ranges and that the ranges for BP tend to be high and what I read gave examples where the high-end included examples with a P/E of 70, and the average low-end was 40. I've always hoped that was fairly constant because I don't want to re-research it and find it's lower. Type in IBB in your favorite market site, THE biotech sector ETF. The research takes 5 seconds. The PE is currently 18 compared to SPY at 26. This may be on the historical low end of sentiment for biotech compared to broader markets, but it seems when you "researched" it, biotech may have been at an extreme high. Kill joy. |
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Post by ktim on Aug 8, 2024 13:04:31 GMT -5
Sorry...
I'm curious when you found those really high PEs. Biotech did go through a real extreme exuberance phase after the first sequencing of the entire human genome. There was a belief, perhaps even somewhat rationale, that miracle drug discovery would flow forth like a waterfall. The reality has simply not panned out like that. Genomic interactions, including epigenetics has proven much more complicated than many had hoped, and drug discovery is still an extremely difficult and expensive endeavor fraught with failures.
Perhaps biotech will have another period of exuberance as people start hyping the possibility that AI combined with genomics will achieve what genomics alone did not. Personally I think AI already is contributing, but it still isn't going to be a golden bullet. Biology/physiology is simply a really hard problem.
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Post by centralcoastinvestor on Aug 8, 2024 13:06:27 GMT -5
I think it awesome that we get to argue about a P/E for MannKind. Woohoo! We have come a long long way from being nearly bankrupt.
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Post by wanderer on Aug 8, 2024 13:41:36 GMT -5
5 cents is just for one quarter, earnings in PE ratio are for a full year. So earnings for forward PE would be 20 cents + (if using non-GAAP), while earnings for backward PE would be lower. 5 cents is for the year through the 6/30 quarter. |
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Post by prcgorman2 on Aug 8, 2024 13:44:15 GMT -5
I agree! Even using the more anemic P/E ratios, there is a good multiplier of share price for earnings per share.
And, it never gets old that MannKind is no longer pushed to debt, dilute, or die.
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Post by radgray68 on Aug 8, 2024 14:18:20 GMT -5
PEG ratio might be a better guide for our fast growing company going forward
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Post by celo on Aug 8, 2024 14:24:51 GMT -5
1.41 billion/11.6 million. = 120.7 PE
Q3/23 1.7 million
Q4/23 1.4 million
Q1/24 10.5 million
Q2/24 -2 million. (GAP or GAAP or not, went off non-GAAP). Major edit here as the true earnings is based on GAAP.
Forward PE is 1.41/16 million = ~87
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