Adaptimmune Therapeutics Plc

Health Care
Biotechnology: Biological Products (No Diagnostic Substances)
www.adaptimmune.com

Moat Score
Safety Score

Market Cap $934.07M
PE -21
Debt $49.87M
Cash $119.42M
EV $864.51M
FCF -$55.17M

Earnings

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Sales & Net Margins

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Earnings	-$44.52M
EBIT	-$43.29M
ROE	-56%
ROA	-14%
FCF	-$55.17M
Equity	$79.99M
Growth Stability	1
PE	-20.98
PB	11.68
P/FCF	-16.93
P/S	5.34
Price/Cash	0.13
Debt/Equity	0.62
Debt/FCF	-0.9
Net Margins	2%
Op. Margins	-25%
Sales Growth YoY	459%
Sales Growth QoQ	-68%
Sales CAGR	15%
Equity CAGR	-12%
Earnings Growth YoY	-61%

Earnings Growth QoQ	-125%
Sales CAGR 5Y	166%
Equity CAGR 5Y	-32%
Earnings CAGR 3Y	180%
Sales CAGR 3Y	180%
Equity CAGR 3Y	-36%
Market Cap	$934.07M
Revenue	$175.04M
Assets	$317.44M
Total Debt	$49.87M
Cash	$119.42M
Shares Outstanding	1.51B
EV	864.51M
Moat Score	21%
Safety Score	64%
Working Capital	180.76M
Current Ratio	3.85
Shares Growth 3y	22%
Equity Growth QoQ	-17%
Equity Growth YoY	-9%

Assets & ROA

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Stockholders Equity & ROE

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Adaptimmune Therapeutics PLC is a clinical-stage biopharmaceutical company. It focused on providing novel cell therapies to patients, particularly in solid tumors. It has developed a comprehensive proprietary platform that enables it to identify cancer targets, find and genetically engineer T-cell receptors, and produce TCR therapeutic candidates for administration to patients. Its programs include MAGE-A10 T-cell therapy, NON-SMALL CELL LUNG CANCER, AFP SPEAR T-cell, MAGE-A4 SPEAR T-cell therapy and NY-ESO SPEAR T-cell for multiple cancer types.

SEC Filings

Direct access to Adaptimmune Therapeutics Plc (ADAP) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Adaptimmune Therapeutics Plc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Adaptimmune Therapeutics Plc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Adaptimmune Therapeutics Plc Discounted Cash Flow

Fully customizable DCF calculator online for Adaptimmune Therapeutics Plc.

Years

Calculation mode

= -$552M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$55M	-$55M	-$55M	-$55M	-$55M	-$55M	-$55M	-$55M	-$55M	-$55M	-$55M	-$552M
DCF		-$50M	-$46M	-$41M	-$38M	-$34M	-$31M	-$28M	-$26M	-$23M	-$21M	-$213M
Value	-$552M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-504%	-185%	-161%	-12K%	-3K%	-3K%	-609%	-189%	2%
ROA	-30%	-25%	-30%	-75%	-29%	-34%	-50%	-40%	-14%
ROE	-43%	-35%	-39%	-111%	-38%	-77%	-202%	-288%	-56%

Bad Net Margins (1.95%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-	-	-0.9
Debt over Equity	-	-	-	-	-	-	-	-	0.62
Growth Stability	-	-	-	-	-	-	-	-	1

Good Debt/FCF ratio (-0.9)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.62)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	166%	57%	-98%	253%	55%	342%	122%	166%
Earnings YoY growth	-	-2%	36%	44%	-5%	22%	5%	-31%	-
Equity YoY growth	-	22%	22%	-50%	176%	-40%	-60%	-52%	-32%
FCF YoY growth	-	32%	37%	5%	-51%	-104%	-8K%	-15%	-