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Formycon AG
XETRA:FYB

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Formycon AG
XETRA:FYB
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Price: 17.92 EUR -2.08% Market Closed
Market Cap: €316.6m

EV/EBIT

-8.4
Current
49%
Cheaper
vs 3-y average of -16.5

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

EV/EBIT
-8.4
=
Enterprise Value
€262.7m
/
EBIT
€-30.5m

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

EV/EBIT
-8.4
=
Enterprise Value
€262.7m
/
EBIT
€-30.5m

Valuation Scenarios

Formycon AG is trading above its industry average

If EV/EBIT returns to its Industry Average (182.4), the stock would be worth €-389.56 (2 274% downside from current price).

Statistics
Positive Scenarios
0/2
Maximum Downside
-2 274%
Maximum Upside
No Upside Scenarios
Average Downside
1 280%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple -8.4 €17.92
0%
Industry Average 182.4 €-389.56
-2 274%
Country Average 15.5 €-33.21
-285%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
€262.7m
/
Jan 2026
€-30.5m
=
-8.4
Current
€262.7m
/
Dec 2026
€-14.9m
=
-17.6
Forward
€262.7m
/
Dec 2027
€23.2m
=
11.3
Forward
€262.7m
/
Dec 2028
€63m
=
4.2
Forward
€262.7m
/
Dec 2031
€157.3m
=
1.7
Forward
€262.7m
/
Dec 2032
€331.1m
=
0.8
Forward

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

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
DE
Formycon AG
XETRA:FYB
323.4m EUR -8.4 -4.9
FR
Pharnext SCA
OTC:PNEXF
6T USD -192 227.3 -160 127.7
US
Abbvie Inc
NYSE:ABBV
351.3B USD 19.4 83.5
US
Amgen Inc
NASDAQ:AMGN
185.7B USD 13.9 23.8
US
Gilead Sciences Inc
NASDAQ:GILD
161.8B USD 14.5 18.7
US
Epizyme Inc
F:EPE
94.1B EUR -565.5 -533.6
US
Vertex Pharmaceuticals Inc
NASDAQ:VRTX
109.3B USD 21.5 27.5
US
Regeneron Pharmaceuticals Inc
NASDAQ:REGN
79.4B USD 14.7 17.5
NL
argenx SE
XBRU:ARGX
41.9B EUR 41.8 37.9
US
Seagen Inc
F:SGT
39.3B EUR -60.1 -61.8
AU
CSL Ltd
ASX:CSL
62.7B AUD 13.3 31.1
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
DE
Formycon AG
XETRA:FYB
Average EV/EBIT: 19.9
Negative Multiple: -8.4
N/A N/A
FR
Pharnext SCA
OTC:PNEXF
Negative Multiple: -192 227.3 N/A N/A
US
Abbvie Inc
NYSE:ABBV
19.4
23%
0.8
US
Amgen Inc
NASDAQ:AMGN
13.9
3%
4.6
US
Gilead Sciences Inc
NASDAQ:GILD
14.5
13%
1.1
US
E
Epizyme Inc
F:EPE
Negative Multiple: -565.5 N/A N/A
US
Vertex Pharmaceuticals Inc
NASDAQ:VRTX
21.5
17%
1.3
US
Regeneron Pharmaceuticals Inc
NASDAQ:REGN
14.7
23%
0.6
NL
argenx SE
XBRU:ARGX
41.8
51%
0.8
US
S
Seagen Inc
F:SGT
Negative Multiple: -60.1 N/A N/A
AU
CSL Ltd
ASX:CSL
13.3
10%
1.3
P/E Multiple
Earnings Growth PEG
DE
Formycon AG
XETRA:FYB
Average P/E: 34.3
Negative Multiple: -4.9
N/A N/A
FR
Pharnext SCA
OTC:PNEXF
Negative Multiple: -160 127.7 N/A N/A
US
Abbvie Inc
NYSE:ABBV
83.5
97%
0.9
US
Amgen Inc
NASDAQ:AMGN
23.8
20%
1.2
US
Gilead Sciences Inc
NASDAQ:GILD
18.7
16%
1.2
US
E
Epizyme Inc
F:EPE
Negative Multiple: -533.6 N/A N/A
US
Vertex Pharmaceuticals Inc
NASDAQ:VRTX
27.5
19%
1.4
US
Regeneron Pharmaceuticals Inc
NASDAQ:REGN
17.5
14%
1.2
NL
argenx SE
XBRU:ARGX
37.9
30%
1.3
US
S
Seagen Inc
F:SGT
Negative Multiple: -61.8 N/A N/A
AU
CSL Ltd
ASX:CSL
31.1
9%
3.5

Market Distribution

Lower than 100% of companies in Germany
Percentile
0th
Based on 2 187 companies
0th percentile
-8.4
Low
0.1 — 10.6
Typical Range
10.6 — 23.1
High
23.1 —
Distribution Statistics
Germany
Min 0.1
30th Percentile 10.6
Median 15.5
70th Percentile 23.1
Max 672.9

Formycon AG
Glance View

Formycon AG engages in the manufacture of biosimilar drugs and formulations. The company is headquartered in Martinsried, Bayern and currently employs 159 full-time employees. The company went IPO on 2010-12-20. Its business activities are focused on the development and marketing of biopharmaceuticals that are similar to existing drugs, for which the patent protection is expiring. The firm focuses on treatments in the area of ophthalmology, immunology and other chronic diseases, covering all steps of biosimilar development process, from early-stage analysis of the originator drug to the preclinical and clinical testing phases, as well as the preparation of dossiers for marketing approval. Its biosimilar product pipeline consists of four candidates in pre-clinical and clinical testing phases, including FYB201, a biosimilar candidate for Lucentis; FYB202, a biosimilar candidate for Stelara; FYB203, a biosimilar candidate for Eylea, and FYB205.

FYB Intrinsic Value
103.13 EUR
Undervaluation 83%
Intrinsic Value
Price €17.92
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