Financials Alvotech

Equities

ALVO

LU2458332611

Biotechnology & Medical Research

End-of-day quote Nasdaq Other stock markets 06:00:00 2024-05-22 pm EDT			5-day change	1st Jan Change
13.58 ^USD	-3.00%		-2.58%	+18.29%

May. 24	Barclays Adjusts Price Target on Alvotech to $22 From $20, Maintains Overweight Rating	MT
May. 22	Alvotech Raises Revenue Guidance for the Full Year 2024	CI

Valuation

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Capitalization ¹	308.8	2,486	3,048	3,911	-	-
Enterprise Value (EV) ¹	308.8	3,165	3,959	5,371	5,192	4,660
P/E ratio	-0.8 x	-3.85 x	-4.72 x	-49.3 x	143 x	21.8 x
Yield	-	-	-	-	-	-
Capitalization / Revenue	8.4 x	29.9 x	32.6 x	9.52 x	6.37 x	4.43 x
EV / Revenue	8.4 x	38.1 x	42.4 x	13.1 x	8.45 x	5.28 x
EV / EBITDA	-	-9.71 x	-12 x	58.1 x	17 x	9.6 x
EV / FCF	-	-9.04 x	-11.5 x	47.5 x	26.9 x	12.8 x
FCF Yield	-	-11.1%	-8.72%	2.1%	3.72%	7.83%
Price to Book	-	-4.41 x	-2.8 x	-2.92 x	-4.15 x	-9.26 x
Nbr of stocks (in thousands)	31,250	248,650	265,530	279,567	-	-
Reference price ²	9.880	10.00	11.48	13.99	13.99	13.99
Announcement Date	5/10/22	3/1/23	3/20/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net sales ¹	36.77	83.03	93.38	410.6	614.4	882.5
EBITDA ¹	-	-326	-330.6	92.45	304.9	485.6
EBIT ¹	-	-346.4	-354.9	18.05	232.9	402.4
Operating Margin	-	-417.25%	-380.01%	4.4%	37.91%	45.6%
Earnings before Tax (EBT) ¹	-	-551.6	-651	-99	48.85	219.5
Net income ¹	-	-513.6	-551.7	-78.95	31.05	175.6
Net margin	-	-618.55%	-590.83%	-19.23%	5.05%	19.9%
EPS ²	-12.29	-2.600	-2.430	-0.2837	0.0976	0.6416
Free Cash Flow ¹	-	-350.3	-345.4	113	193	365
FCF margin	-	-421.86%	-369.9%	27.52%	31.41%	41.36%
FCF Conversion (EBITDA)	-	-	-	122.23%	63.29%	75.17%
FCF Conversion (Net income)	-	-	-	-	621.51%	207.86%
Dividend per Share ²	-	-	-	-	-	-
Announcement Date	5/10/22	3/1/23	3/20/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q2
Net sales	-
EBITDA	-
EBIT	-
Operating Margin	-
Earnings before Tax (EBT)	-
Net income ¹	189.3
Net margin	-
EPS ²	0.8500
Dividend per Share	-
Announcement Date	8/30/23

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	678	911	1,460	1,281	749
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-2.08 x	-2.755 x	15.79 x	4.2 x	1.542 x
Free Cash Flow ¹	-	-350	-345	113	193	365
ROE (net income / shareholders' equity)	-	-	-	-	-	-
ROA (Net income/ Total Assets)	-	-72%	-62%	-6.1%	4.48%	13.2%
Assets ¹	-	713.2	889.3	1,294	693.9	1,328
Book Value Per Share ²	-	-2.270	-4.100	-4.780	-3.370	-1.510
Cash Flow per Share ²	-	-1.580	-1.370	0.2400	1.160	1.800
Capex ¹	-	37.9	33.2	32.1	7.76	7.76
Capex / Sales	-	45.62%	35.59%	7.83%	1.26%	0.88%
Announcement Date	5/10/22	3/1/23	3/20/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Alvotech

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

13.99 USD

Average target price

16.83 USD

Spread / Average Target

+20.32%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

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