Annexon, Inc.

Health Care
Biotechnology: Pharmaceutical Preparations
www.annexonbio.com

Market Cap $649.60M
PE -6
Debt $NaN
Cash $80.57M
EV $NaN
FCF -$105.48M

Earnings

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Sales & Net Margins

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Earnings	-$117.50M
EBIT	$146.36M
ROE	-35%
ROA	39%
FCF	-$105.48M
Equity	$331.56M
Growth Stability	1
PE	-5.53
PB	1.96
P/FCF	-6.16
Price/Cash	0.12
Equity CAGR	-4%
Earnings Growth YoY	7%

Earnings Growth QoQ	18%
Equity CAGR 5Y	-5%
Equity CAGR 3Y	16%
Market Cap	$649.60M
Assets	$378.78M
Cash	$80.57M
Shares Outstanding	130.95M
Working Capital	324.25M
Current Ratio	17.18
Shares Growth 3y	16%
Equity Growth QoQ	-8%
Equity Growth YoY	111%

Assets & ROA

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Stockholders Equity & ROE

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Annexon Inc is a clinical-stage biopharmaceutical company developing a pipeline of novel therapies for patients with classical complement-mediated disorders of the body, brain, and eye. Its pipeline is based on its platform technology addressing well-researched classical complement-mediated autoimmune and neurodegenerative disease processes, both of which are triggered by aberrant activation of C1q. Its pipeline of product candidates is designed to block the activity of C1q and the entire classical complement pathway in a broad set of complement-mediated diseases. Annexon's product candidates are ANX005, for autoimmune & neurodegenerative disorders; ANX007, for neurodegenerative ophthalmic disorders; and ANX009, for systemic autoimmune diseases.

SEC Filings

Direct access to Annexon, Inc. (ANNX) 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 Annexon, Inc. compare to its competitors?

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Peter Lynch's Chart

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

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Annexon, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Annexon, Inc..

Years

Calculation mode

= -$1.1B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$105M	-$105M	-$105M	-$105M	-$105M	-$105M	-$105M	-$105M	-$105M	-$105M	-$105M	-$1.1B
DCF		-$96M	-$87M	-$79M	-$72M	-$65M	-$60M	-$54M	-$49M	-$45M	-$41M	-$407M
Value	-$1.1B

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	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-	-	-	-	-	-
ROA	-	-18%	-45%	50%	45%	39%
ROE	-	-20%	-56%	-61%	-54%	-35%

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	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-
Debt over Equity	-	-	-	-	-	-
Growth Stability	-	-	-	-	-	1

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

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	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-	-	-	-	-
Earnings YoY growth	-	84%	85%	9%	-5%	-
Equity YoY growth	-	-443%	-33%	-0%	8%	-5%
FCF YoY growth	-	87%	101%	14%	-1%	-