Mannkind Corp

Health Care
Biotechnology: Pharmaceutical Preparations
www.mannkindcorp.com

Earnings Score
Safety Score

Market Cap $1.31B
Debt $36.32M
Cash $46.34M
EV $1.30B
FCF $32.82M

Earnings

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Sales & Net Margins

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Earnings	$27.59M
EBIT	$72.59M
ROA	18%
FCF	$32.82M
Equity	-$78.82M
Growth Stability	1
PE	47.55
PEG	58.27
PB	-16.64
P/FCF	39.97
P/S	4.59
Price/Cash	0.04
Debt/Equity	-0.46
Debt/FCF	1.11
Net Margins	10%
Gross Margins	94%
Op. Margins	25%
Earnings CAGR	-3%
Sales Growth YoY	31%
Sales Growth QoQ	10%
Sales CAGR	22%
FCF CAGR	0%
Earnings Stability	0.09
Earnings Growth YoY	430%

Earnings Growth QoQ	-36%
Earnings CAGR 5Y	1%
Sales CAGR 5Y	43%
FCF CAGR 5Y	1%
Earnings CAGR 3Y	80%
Sales CAGR 3Y	80%
FCF CAGR 3Y	17%
Market Cap	$1.31B
Revenue	$285.50M
Assets	$393.84M
Total Debt	$36.32M
Cash	$46.34M
Shares Outstanding	274.42M
EV	1.3B
Earnings Score	5%
Safety Score	64%
Working Capital	186.47M
Current Ratio	3.28
Gross Profit	$268.08M
Shares Growth 3y	3%
Equity Growth QoQ	-62%
Equity Growth YoY	-68%

Assets & ROA

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Stockholders Equity & ROE

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MannKind Corp is a biopharmaceutical company focused on the development and commercialization of inhaled therapeutic products for patients with diseases such as diabetes and pulmonary arterial hypertension. Its approved product, Afrezza (insulin human) Inhalation Powder, is an ultra-rapid-acting inhaled insulin used to improve glycemic control in adults with diabetes. The product consists of a dry powder formulation of human insulin delivered from a small portable inhaler.

SEC Filings

Direct access to Mannkind Corp (MNKD) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 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 Mannkind Corp compare to its competitors?

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Peter Lynch's Chart

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

CAGR -3%

Stability 9%

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Mannkind Corp Discounted Cash Flow

Fully customizable DCF calculator online for Mannkind Corp.

Years

Calculation mode

= $331M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$33M	$33M	$33M	$33M	$33M	$33M	$33M	$33M	$33M	$33M	$33M	$332M
DCF		$30M	$27M	$25M	$23M	$21M	$19M	$17M	$15M	$14M	$13M	$128M
Value	$331M

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-	72%	-999%	-312%	-82%	-88%	-107%	-88%	-6%	10%	10%
ROA	-	117%	-128%	-71%	-48%	-44%	-15%	-22%	2%	18%	18%
ROE	-	-68%	55%	50%	27%	32%	39%	35%	5%	-35%	-

Net Margins (9.66%)

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.

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-1.25	-	-	-1.38	-4.25	-3.94	-3.16	-32.61	1.11	1.11
Debt over Equity	-0.29	-0.54	-0.98	-0.65	-0.66	-0.68	-1.38	-1.11	-1.11	-0.46	-0.46
Growth Stability	-	-	-	-	-	-	-	-	-	-	1

Good Debt/FCF ratio (1.11)

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 (-0.46)

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	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	-	-93%	137%	126%	3%	16%	32%	99%	43%	43%
Earnings YoY growth	-	-134%	-193%	-26%	-40%	10%	41%	8%	-86%	-331%	1%
Equity YoY growth	-	-48%	17%	-18%	9%	-5%	16%	20%	-2%	-68%	-
FCF YoY growth	-	17%	-	-	139%	-68%	153%	21%	-91%	-493%	1%