Axsome Therapeutics, Inc.

Health Care
Biotechnology: Pharmaceutical Preparations
www.axsome.com

Moat Score
Safety Score

Market Cap $4.72B
PE -15
Debt $180.00M
Cash $327.34M
EV $4.58B
FCF -$132.82M

Earnings

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Sales & Net Margins

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Earnings	-$310.96M
EBIT	-$306.22M
ROE	-335%
ROA	-55%
FCF	-$132.82M
Equity	$92.90M
Growth Stability	1
PE	-15.19
PB	50.84
P/FCF	-35.56
P/S	13.95
Price/Cash	0.07
Debt/Equity	1.94
Debt/FCF	-1.36
Net Margins	-80%
Gross Margins	91%
Op. Margins	-90%
Sales Growth YoY	-38%
Sales Growth QoQ	20%
Sales CAGR	0%
Equity CAGR	31%
Earnings Growth YoY	4%

Earnings Growth QoQ	-19%
Sales CAGR 5Y	5%
Equity CAGR 5Y	5%
Earnings CAGR 3Y	96%
Sales CAGR 3Y	96%
Equity CAGR 3Y	123%
Market Cap	$4.72B
Revenue	$338.46M
Assets	$561.46M
Total Debt	$180.00M
Cash	$327.34M
Shares Outstanding	47.7M
EV	4.58B
Moat Score	1%
Safety Score	59%
Working Capital	282.93M
Current Ratio	2.44
Gross Profit	$308.29M
Shares Growth 3y	10%
Equity Growth QoQ	-10%
Equity Growth YoY	-66%

Assets & ROA

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Stockholders Equity & ROE

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Axsome Therapeutics Inc is a clinical-stage biopharmaceutical company. It is engaged in developing novel therapies for the management of the central nervous system, or CNS, disorders for which there are limited treatment options. Its pipeline products include AXS-05, AXS-07, AXS-12, and AXS-14.

SEC Filings

Direct access to Axsome Therapeutics, Inc. (AXSM) 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 Axsome Therapeutics, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Axsome Therapeutics, 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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Axsome Therapeutics, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Axsome Therapeutics, Inc..

Years

Calculation mode

= -$1.3B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$133M	-$133M	-$133M	-$133M	-$133M	-$133M	-$133M	-$133M	-$133M	-$133M	-$133M	-$1.3B
DCF		-$121M	-$110M	-$100M	-$91M	-$82M	-$75M	-$68M	-$62M	-$56M	-$51M	-$512M
Value	-$1.3B

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-	-	-	-	-	-	-	-	-	-88%	-80%
ROA	-	-19%	-72%	-76%	-214%	-30%	-53%	-142%	-54%	-39%	-55%
ROE	-	-26%	-126%	-173%	-3K%	-38%	-90%	-834%	-171%	-125%	-335%

Bad Net Margins (-79.54%)

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-0.48	-0.49	-0.32	-0.49	-0.64	-0.46	-0.81	-1.24	-1.36
Debt over Equity	-	-	0.48	0.78	10.32	0.13	0.44	3.2	0.87	0.94	1.94
Growth Stability	-	-	-	-	-	-	-	-	-	-	1

Good Debt/FCF ratio (-1.36)

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.

Bad Debt/Equity ratio (1.94)

The company is overleveraged and has a bad 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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-	-	-	-	-	-	-	-	-	5%
Earnings YoY growth	-	103%	123%	6%	7%	121%	51%	27%	44%	28%	-
Equity YoY growth	-	-2K%	-54%	-23%	-94%	19K%	-36%	-86%	601%	74%	5%
FCF YoY growth	-	-	187%	24%	14%	54%	69%	38%	8%	24%	-