A Business at a Glance
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XBiotech Inc. (“XBiotech” or the “Company”) is a biopharmaceutical company that discovers and develops True Human™ monoclonal antibodies for treating a variety of diseases. XBiotech was incorporated in Canada on March 22, 2005. The Company’s Internet address is www.xbiotech.com. The Company makes available free of charge on or through its website its annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as well as proxy statements, as soon as reasonably practicable after the Company electronically files such material with, or furnishes it to, the Securities and Exchange Commission. The Company’s website is included in this annual report on Form 10-K as an inactive textual reference only.
| Segment | 2022 | % of Total |
|---|---|---|
Janssen | $4M | 100% |
| Metric | TTM | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | - | 18M | 44M | 0 |
| Net Income | -29M | -25M | -33M | -17M | -11M | 669M |
| EPS | $-0.96 | $-0.81 | $-1.08 | $-0.58 | $-0.36 | $14.44 |
| Free Cash Flow | -24M | -19M | -15M | 66M | -69M | -18M |
| ROIC | -139.0% | - | - | - | - | 88.5% |
| Gross Margin | - | - | - | 68.4% | 21.5% | - |
| Debt/Equity | 0.00 | - | - | - | - | 0.08 |
| Dividends/Share | $0.00 | - | - | $2.50 | - | - |
| Operating Income | -35M | -38M | -34M | -25M | -18M | 718M |
| Operating Margin | 0.0% | - | - | -136.4% | -41.5% | - |
| ROE | -17.5% | - | - | - | - | 88.5% |
| Shares Outstanding | 30M | 30M | 30M | 30M | 31M | 46M |
| Metric | 2019 | 2020 | 2021 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 0 | 44M | 18M | N/A | 0 | 0 |
| Gross Margin | N/A | 21.5% | 68.4% | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 718M | -18M | -25M | -34M | -38M | -35M |
| Op. Margin | N/A | -41.5% | -136.4% | N/A | N/A | 0.0% |
| Net Income | 669M | -11M | -17M | -33M | -25M | -29M |
| Net Margin | N/A | -25.5% | -94.7% | N/A | N/A | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||
| ROIC | 88.5% | N/A | N/A | N/A | N/A | -139.0% |
| ROE | 88.5% | N/A | N/A | N/A | N/A | -17.5% |
| ROA | 81.9% | -3.2% | -6.3% | -13.4% | -10.4% | -16.9% |
| Cash Flow | ||||||
| Op. Cash Flow | -18M | -65M | 69M | -15M | -19M | -24M |
| Free Cash Flow | -18M | -69M | 66M | -15M | -19M | -24M |
| Owner Earnings | -24M | -80M | 62M | -23M | -24M | -29M |
| CapEx | 204K | 3.7M | 3.5M | 585K | 362K | 339K |
| Maint. CapEx | 2.4M | 2.2M | 2.6M | 2.6M | 1.7M | 1.7M |
| Growth CapEx | 0 | 1.5M | 877K | 0 | 0 | 0 |
| D&A | 2.4M | 2.2M | 2.6M | 2.6M | 1.7M | 1.7M |
| CapEx/OCF | N/A | N/A | 5.1% | N/A | N/A | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 75M | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | 16.8% | N/A | N/A | N/A |
| Share Buybacks | 0 | 420M | 0 | 0 | 14K | 14K |
| Buyback Yield | N/A | 93.6% | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | 3.4M | 13M | 4.5M | 5.1M | 3.3M | 3.3M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | -147M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | 147M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.08 | N/A | N/A | N/A | N/A | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 756M | N/A | N/A | N/A | N/A | 167M |
| Total Assets | 817M | 354M | 275M | 246M | 227M | 172M |
| Total Liabilities | 61M | N/A | N/A | N/A | N/A | 5.3M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 431M | 98M | 5.2M | -28M | -52M | -52M |
| Working Capital | 656M | 322M | 243M | 216M | 196M | 196M |
| Current Assets | 716M | 326M | 247M | 220M | 202M | 202M |
| Current Liabilities | 60M | 4.0M | 3.5M | 4.1M | 6.1M | 6.1M |
| Per Share Data | ||||||
| EPS | 14.44 | -0.36 | -0.58 | -1.08 | -0.81 | -0.96 |
| Owner EPS | -0.52 | -2.57 | 2.08 | -0.74 | -0.78 | -0.94 |
| Book Value | 16.32 | N/A | N/A | N/A | N/A | 5.48 |
| Cash Flow/Share | -0.39 | -2.09 | 2.31 | -0.49 | -0.62 | -0.90 |
| Dividends/Share | N/A | N/A | 2.50 | N/A | N/A | 0.00 |
| Shares Out. | 46.3M | 31.2M | 30.0M | 30.5M | 30.3M | 30.5M |
| Valuation | ||||||
| P/E Ratio | 1.1 | N/A | N/A | N/A | N/A | -2.5 |
| P/FCF | N/A | N/A | 5.0 | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 1.0 | N/A | N/A | N/A | N/A | 0.4 |
| Price/Sales | N/A | 10.1 | 24.2 | N/A | N/A | N/A |
| FCF Yield | -2.4% | -15.4% | 20.1% | -16.1% | -15.9% | -32.5% |
| Market Cap | 766M | 449M | 329M | 96M | 120M | 73M |
| Avg. Price | 8.07 | 14.26 | 14.84 | 6.30 | 4.30 | 2.41 |
| Year-End Price | 16.55 | 14.39 | 10.95 | 3.14 | 3.97 | 2.41 |
XBiotech Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 88.5% with a gross margin of 44.9%. At current prices, the estimated annualized return to fair value is +7.2%.
XBiotech Inc. (XBIT) has a 5-year average return on invested capital (ROIC) of 88.5%. This indicates strong capital allocation and a potential competitive advantage.
XBiotech Inc. (XBIT) has a market capitalization of $73M. It is classified as a small-cap stock.
XBiotech Inc. (XBIT) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.02%.
XBiotech Inc. (XBIT) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
XBiotech Inc. (XBIT) generated $-19 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
XBiotech Inc. (XBIT) reported earnings per share (EPS) of $-0.81 in its most recent fiscal year.
XBiotech Inc. (XBIT) has a 5-year average gross margin of 44.9%. This indicates decent pricing power.
The Ledger Terminal provides 5 years of financial data for XBiotech Inc. (XBIT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.