Company Valuation: Merrimack Pharmaceuticals

Data adjusted to current consolidation scope
Fiscal Period: December 2018 2019 2020 2021 2022 2023
Market Cap 1 51.5 42.09 92.19 52.43 153.7 192
Change - -18.27% 119.01% -43.12% 193.09% 24.96%
Enterprise Value (EV) 1 -4.902 25.51 78.15 38.23 134.2 173.2
Change - 620.48% 206.32% -51.08% 251.13% 29%
P/E -1.27x -2.43x -30.4x -21.4x -100x -162x
PBR 0.88x 2.43x 5.76x 3.7x 8.46x 10.3x
PEG - 0x 0.4x 1.1x 2.7x 5.9x
Capitalization / Revenue - - - - - -
EV / Revenue - - - - - -
EV / EBITDA 0.08x -1.26x -28.1x - - -
EV / EBIT 0.08x -1.14x -15.6x -14.6x -61.7x -79.6x
EV / FCF 0.12x -1.57x -46.9x 52.8x -185x -153x
FCF Yield 856% -63.5% -2.13% 1.89% -0.54% -0.65%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -3.036 -1.298 -0.2263 -0.1831 -0.1142 -0.0826
Distribution rate - - - - - -
Net sales - - - - - -
EBITDA 1 -60.2 -20.24 -2.784 - - -
EBIT 1 -64.28 -22.47 -5.012 -2.616 -2.174 -2.176
Net income 1 -40.51 -17.33 -3.028 -2.455 -1.544 -1.181
Net Debt 1 -56.4 -16.58 -14.04 -14.2 -19.44 -18.88
Reference price 2 3.86 3.15 6.89 3.91 11.46 13.41
Nbr of stocks (in thousands) 13,343 13,363 13,380 13,410 13,410 14,321
Announcement Date 06/03/19 12/03/20 10/03/21 09/03/22 09/03/23 07/03/24
1USD in Million2USD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 224M
34.52x6.15x18.3x0.93% 50.96B
-22.19x290.43x-23.05x-.--% 46.18B
49.23x5.72x31.29x-.--% 42.73B
33.68x3.27x14.09x-.--% 43.04B
29.37x8.87x22.41x0.39% 33.48B
35.2x5.78x26.25x-.--% 17.28B
24.28x2.11x9.12x1.11% 14.73B
78.94x4.14x16.07x-.--% 14.09B
Average 32.88x 40.81x 14.31x 0.3% 29.19B
Weighted average by Cap. 28.00x 55.61x 12.86x 0.29%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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