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Cipher Pharmaceuticals Inc
TSX:CPH

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Cipher Pharmaceuticals Inc
TSX:CPH
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Price: 18.52 CAD 0.16% Market Closed
Market Cap: CA$468.2m

EV/EBITDA

17.6
Current
29%
More Expensive
vs 3-y average of 13.6

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
17.6
=
Enterprise Value
CA$401.2m
/
EBITDA
$19.7m

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
17.6
=
Enterprise Value
CA$401.2m
/
EBITDA
$19.7m

Valuation Scenarios

Cipher Pharmaceuticals Inc is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (13.6), the stock would be worth CA$14.36 (22% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-81%
Maximum Upside
No Upside Scenarios
Average Downside
50%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 17.6 CA$18.52
0%
3-Year Average 13.6 CA$14.36
-22%
5-Year Average 3.4 CA$3.61
-81%
Industry Average 7.9 CA$8.37
-55%
Country Average 10.2 CA$10.71
-42%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
CA$401.2m
/
Oct 2025
$19.7m
=
17.6
Current
CA$401.2m
/
Dec 2025
$26.2m
=
15.3
Forward
CA$401.2m
/
Dec 2026
$28.6m
=
14
Forward
CA$401.2m
/
Dec 2027
$35.8m
=
11.2
Forward
CA$401.2m
/
Dec 2028
$36.6m
=
11
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
CA
Cipher Pharmaceuticals Inc
TSX:CPH
469.1m CAD 17.6 19.6
US
Eli Lilly and Co
NYSE:LLY
853.2B USD 28 41.3
US
Johnson & Johnson
NYSE:JNJ
544.6B USD 16.6 25.9
CH
Roche Holding AG
SIX:ROG
248.4B CHF 11.7 19.8
UK
AstraZeneca PLC
LSE:AZN
225.8B GBP 16.2 29.2
CH
Novartis AG
SIX:NOVN
226.8B CHF 12.3 19.9
US
Merck & Co Inc
NYSE:MRK
278.5B USD 9.5 15.3
IE
Endo International PLC
LSE:0Y5F
244.4B USD 386.8 -83.6
DK
Novo Nordisk A/S
CSE:NOVO B
1.1T DKK 8 10.9
US
Pfizer Inc
NYSE:PFE
155.3B USD 7.7 20
US
Bristol-Myers Squibb Co
NYSE:BMY
119.6B USD 7.2 17
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CA
Cipher Pharmaceuticals Inc
TSX:CPH
Average EV/EBITDA: 47.4
17.6
45%
0.4
US
Eli Lilly and Co
NYSE:LLY
28
21%
1.3
US
Johnson & Johnson
NYSE:JNJ
16.6
8%
2.1
CH
Roche Holding AG
SIX:ROG
11.7
6%
2
UK
AstraZeneca PLC
LSE:AZN
16.2
12%
1.3
CH
Novartis AG
SIX:NOVN
12.3
5%
2.5
US
Merck & Co Inc
NYSE:MRK
9.5
4%
2.4
IE
E
Endo International PLC
LSE:0Y5F
386.8
N/A N/A
DK
Novo Nordisk A/S
CSE:NOVO B
8
2%
4
US
Pfizer Inc
NYSE:PFE
7.7
-8%
N/A
US
Bristol-Myers Squibb Co
NYSE:BMY
7.2
-10%
N/A
P/E Multiple
Earnings Growth PEG
CA
Cipher Pharmaceuticals Inc
TSX:CPH
Average P/E: 21.9
19.6
28%
0.7
US
Eli Lilly and Co
NYSE:LLY
41.3
32%
1.3
US
Johnson & Johnson
NYSE:JNJ
25.9
8%
3.2
CH
Roche Holding AG
SIX:ROG
19.8
14%
1.4
UK
AstraZeneca PLC
LSE:AZN
29.2
25%
1.2
CH
Novartis AG
SIX:NOVN
19.9
14%
1.4
US
Merck & Co Inc
NYSE:MRK
15.3
14%
1.1
IE
E
Endo International PLC
LSE:0Y5F
Negative Multiple: -83.6 N/A N/A
DK
Novo Nordisk A/S
CSE:NOVO B
10.9
0%
N/A
US
Pfizer Inc
NYSE:PFE
20
22%
0.9
US
Bristol-Myers Squibb Co
NYSE:BMY
17
16%
1.1

Market Distribution

Higher than 78% of companies in Canada
Percentile
78th
Based on 2 002 companies
78th percentile
17.6
Low
0 — 7
Typical Range
7 — 14.5
High
14.5 —
Distribution Statistics
Canada
Min 0
30th Percentile 7
Median 10.2
70th Percentile 14.5
Max 13 731.1

Cipher Pharmaceuticals Inc
Glance View

Market Cap
468.2m CAD
Industry
Pharmaceuticals

Cipher Pharmaceuticals, Inc. engages as a specialty pharmaceutical company, which have diversified portfolio of commercial and early to late-stage products. The company is headquartered in Oakville, Ontario. The company went IPO on 2004-02-25. The firm acquires products that fulfill unmet medical needs, manages the required clinical development and regulatory approval process, and markets those products directly in Canada and indirectly through partners in the United States, Canada and South America. Its Dermatology products include Actikerall, Epuris, Ozanex, and Vaniqa. Its Hospital Acute Care products are Aggrastat and Brinavess. The Company’s Out-Licensed Products include Absorica, ConZip, Durela, and Lipofen. The company is focused on three strategy that includes acquisitions, in-licensing, and selective investments in drug development to assemble a portfolio of prescription products that serve unmet medical needs. The firm's subsidiaries include Cipher US Holdings Inc., Cipher US Holdco LLC and Cipher Pharmaceuticals US LLC.

CPH Intrinsic Value
15.23 CAD
Overvaluation 18%
Intrinsic Value
Price CA$18.52
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