Fate Therapeutics Inc

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

Moat Score

Market Cap $307.16M
PE -2
Debt $NaN
Cash $37.91M
EV $NaN
FCF -$132.53M

Earnings

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Sales & Net Margins

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Earnings	-$178.23M
EBIT	-$196.60M
ROE	-49%
ROA	-40%
FCF	-$132.53M
Equity	$362.33M
Growth Stability	1
PE	-1.72
PB	0.85
P/FCF	-2.32
P/S	22.84
Price/Cash	0.12
Net Margins	-1K%
Op. Margins	-1K%
Sales Growth YoY	58%
Sales Growth QoQ	-55%
Sales CAGR	43%
Equity CAGR	43%
Earnings Growth YoY	6%

Earnings Growth QoQ	24%
Sales CAGR 5Y	15%
Equity CAGR 5Y	1%
Earnings CAGR 3Y	-48%
Sales CAGR 3Y	-48%
Equity CAGR 3Y	-20%
Market Cap	$307.16M
Revenue	$13.45M
Assets	$494.97M
Cash	$37.91M
Shares Outstanding	112.31M
Moat Score	1%
Working Capital	272.87M
Current Ratio	8.29
Shares Growth 3y	5%
Equity Growth QoQ	-9%
Equity Growth YoY	-10%

Assets & ROA

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Stockholders Equity & ROE

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Fate Therapeutics Inc is a clinical-stage biopharmaceutical company based in the United States. It is engaged in the development of programmed cellular immunotherapies for cancer and immune disorders. The company's cell therapy pipeline is comprised of NK- and T-cell immuno-oncology programs, including off-the-shelf engineered product candidates derived from clonal master iPSC lines, and immuno-regulatory programs, including product candidates to prevent life-threatening complications in patients.

SEC Filings

Direct access to Fate Therapeutics Inc (FATE) 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 Fate Therapeutics Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Fate 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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Fate Therapeutics Inc Discounted Cash Flow

Fully customizable DCF calculator online for Fate 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		-$120M	-$110M	-$100M	-$91M	-$82M	-$75M	-$68M	-$62M	-$56M	-$51M	-$511M
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	-	-1K%	-760%	-1K%	-1K%	-919%	-552%	-380%	-293%	-253%	-1K%
ROA	-	-41%	-34%	-40%	-31%	-33%	-21%	-24%	-44%	-38%	-40%
ROE	-	-79%	-46%	-56%	-42%	-40%	-45%	-31%	-58%	-44%	-49%

Bad Net Margins (-1.14K%)

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	-	-1.46	-0.69	-0.5	-0.51	-	-	-	-	-	-
Debt over Equity	0.76	0.77	0.29	0.25	0.13	-	-	-	-	-	-
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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	-	81%	-7%	15%	125%	194%	78%	72%	-34%	15%
Earnings YoY growth	-	16%	12%	28%	55%	47%	77%	22%	33%	-43%	-
Equity YoY growth	-	34%	92%	6%	108%	53%	57%	77%	-29%	-24%	1%
FCF YoY growth	-	-15%	52%	27%	6%	121%	-51%	384%	33%	-51%	-