Company Valuation: SurModics

Data adjusted to current consolidation scope
Fiscal Period: September 2019 2020 2021 2022 2023 2024
Market Cap 1 617.1 531.1 771.3 425.8 453.6 553.3
Change - -13.93% 45.22% -44.8% 6.53% 21.98%
Enterprise Value (EV) 1 561.8 473.8 746.1 421.6 441.5 546.4
Change - -15.66% 57.47% -43.5% 4.72% 23.77%
P/E Ratio 83.2x 486x 185x -15.5x -292x -47.3x
PBR 5.04x 4.06x 5.52x 3.93x 3.79x 4.67x
PEG - -5.7x 1x 0x 3.1x -0x
Capitalization / Revenue 6.17x 5.6x 7.34x 4.26x 3.42x 4.39x
EV / Revenue 5.61x 4.99x 7.1x 4.22x 3.33x 4.33x
EV / EBITDA 39.6x 78.8x 61.3x -32.6x 31.3x 81x
EV / EBIT 81.9x -379x 180x -19.1x 78.8x -281x
EV / FCF -39.1x 67.3x 150x -62.6x 31.3x 79.6x
FCF Yield -2.56% 1.49% 0.67% -1.6% 3.2% 1.26%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.55 0.08 0.3 -1.96 -0.11 -0.82
Distribution rate - - - - - -
Net sales 1 100.1 94.86 105.1 99.95 132.6 126.1
EBITDA 1 14.17 6.012 12.17 -12.94 14.12 6.749
EBIT 1 6.857 -1.251 4.155 -22.08 5.603 -1.945
Net income 1 7.592 1.123 4.237 -27.27 -1.536 -11.54
Net Debt 1 -55.29 -57.32 -25.16 -4.192 -12.1 -6.87
Reference price 2 45.74 38.91 55.60 30.40 32.09 38.78
Nbr of stocks (in thousands) 13,491 13,650 13,872 14,005 14,134 14,267
Announcement Date 12/3/19 A 12/2/20 A 11/24/21 A 11/23/22 A 11/22/23 A 11/20/24 A
1USD in Million2USD
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 615M
22.55x3.34x12.55x2.84% 156B
20.19x3.49x12.53x3.56% 103B
14.83x0.18x11.12x0.84% 54.77B
34.95x8.63x23.22x1.1% 53.52B
36.72x2.94x10.1x2.62% 40.6B
35.54x1.31x11.57x0.22% 31.4B
30.74x5.49x17.51x-.--% 29.04B
39.23x6.78x24.48x0.27% 23.34B
24.42x3.11x12.7x1.32% 20.81B
Average 28.80x 3.92x 15.09x 1.42% 51.34B
Weighted average by Cap. 25.76x 3.70x 14.08x 2.07%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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