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Formycon AG
(XETRA:FYB)
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Rating:49Neutral
Price Target:
€18.50
▼(-2.01% Downside)
Action:Reiterated
Date:08/06/26
The score is held back primarily by weak recent operating performance (revenue declines, significant losses) and deeply negative free cash flow, despite a relatively strong, low-leverage balance sheet. Technical indicators also lean bearish with the price below key moving averages and a negative MACD, while valuation is not supportive due to the negative P/E and no dividend data.
Positive Factors
Low-leverage balance sheet
A structurally low-leverage position gives Formycon financial flexibility to fund development and navigate biotech cycles without urgent refinancing. This supports sustained R&D investment, partnership talks and absorbs episodic losses, preserving strategic optionality over months.
Negative Factors
Sustained revenue decline
Consecutive revenue contractions weaken the base for partner royalties and milestone economics, reducing cash inflows available for R&D and operations. If this structural decline continues over months it undermines operating leverage and puts pressure on contract renegotiations.
Read all positive and negative factors
Positive Factors
Negative Factors
Low-leverage balance sheet
A structurally low-leverage position gives Formycon financial flexibility to fund development and navigate biotech cycles without urgent refinancing. This supports sustained R&D investment, partnership talks and absorbs episodic losses, preserving strategic optionality over months.
Read all positive factors
Formycon AG (FYB) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€338.97M
Dividend YieldN/A
Average Volume (3M)24.96K
Price to Earnings (P/E)―
Beta (1Y)1.24
Revenue Growth-36.17%
EPS Growth48.61%
CountryDE
Employees203
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.66
Shares Outstanding17,672,928
10 Day Avg. Volume17,772
30 Day Avg. Volume24,962
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)1.13
Price to Sales (P/S)10.17
P/FCF Ratio-10.25
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€51.00Price Target Upside170.13% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.23
Revenue Forecast (FY)€77.70M
Formycon AG Business Overview & Revenue Model
Company Description
Headquartered in Planegg, Germany, Formycon AG, founded in 1999 and formerly known as Nanohale AG until 2012, specializes in the development and commercialization of biosimilar medications. Its robust product pipeline includes FYB201, a biosimilar...
How the Company Makes Money
Formycon makes money primarily through (1) product-related income from biosimilars it develops that are commercialized (typically via marketing partners) and (2) partnering income tied to its development programs. For marketed biosimilars, Formyco...
Formycon AG Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
78
Positive
Cash Flow
41
Neutral
| Breakdown | Mar 2026 | Dec 2024 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 44.48M | 69.67M | 77.70M | 42.50M | 36.61M |
| Gross Profit | 3.58M | 14.83M | 23.30M | 12.07M | 10.11M |
| EBITDA | -2.44M | -4.10M | 81.05M | 51.53M | -12.42M |
| Net Income | -64.70M | -125.67M | 75.80M | 35.99M | -13.29M |
Balance Sheet | |||||
| Total Assets | 739.53M | 771.72M | 890.36M | 853.70M | 70.72M |
| Cash, Cash Equivalents and Short-Term Investments | 68.85M | 41.84M | 27.04M | 9.82M | 25.18M |
| Total Debt | 9.56M | 10.59M | 29.49M | 49.31M | 5.28M |
| Total Liabilities | 340.39M | 309.87M | 387.61M | 497.12M | 14.82M |
| Stockholders Equity | 399.14M | 461.84M | 502.75M | 356.58M | 55.89M |
Cash Flow | |||||
| Free Cash Flow | -44.11M | -53.16M | -10.88M | -45.75M | -14.48M |
| Operating Cash Flow | 10.78M | -23.22M | -9.85M | -18.99M | -13.54M |
| Investing Cash Flow | -37.45M | -1.46M | -17.38M | -37.07M | -3.93M |
| Financing Cash Flow | 53.68M | 39.48M | 44.44M | 40.85M | 491.00K |
Formycon AG Technical Analysis
Negative
18.88
Price Trends
19.32
Negative
19.03
Negative
21.01
Negative
Market Momentum
-0.08
Negative
45.42
Neutral
40.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:FYB, the sentiment is Negative. The current price of 18.88 is above the 20-day moving average (MA) of 18.63, below the 50-day MA of 19.32, and below the 200-day MA of 21.01, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 45.42 is Neutral, neither overbought nor oversold. The STOCH value of 40.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:FYB.
Formycon AG Peers Comparison
UnderperformOutperform
Sector (51)
DE:FYB
Formycon AG
18.60
-6.40
-25.60%
DE:BNN
B.R.A.I.N. Biotechnology Research and Information Network
2.78
0.78
39.00%
DE:CNW
co.don AG
0.01
>-0.01
-33.33%
DE:MDG1
Medigene
0.01
-0.06
-85.29%
DE:HPHA
Heidelberg Pharma AG
2.47
-1.75
-41.47%
DE:MF6
MagForce AG
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.