Formycon AG (DE:FYB)
XETRA:FYB
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Formycon AG
(XETRA:FYB)
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Rating:51Neutral
Price Target:
€20.50
▲(3.43% Upside)
Action:Reiterated
Date:04/24/26
The score is held back primarily by weak recent financial performance (revenue contraction, significant losses, and deeply negative free cash flow) despite a comparatively strong, low-leverage balance sheet. Technicals are mixed with the stock below key longer-term moving averages and a negative MACD, while valuation is constrained by loss-making results and no indicated dividend yield.
Positive Factors
Low leverage / strong balance sheet
Formycon’s low leverage and sizable equity base provide durable financial flexibility to fund R&D cycles and absorb setbacks common in biosimilar development. A stronger balance sheet reduces short-term refinancing risk and preserves strategic optionality for partnering or opportunistic investments over the next 2–6 months.
Negative Factors
Recent revenue contraction
Two consecutive years of revenue decline reduce milestone cadence and weaken recurring royalty visibility. Persistent top-line shrinkage undermines bargaining power with partners, constrains reinvestment capacity, and raises execution risk for ongoing programs if the trend continues over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Formycon’s low leverage and sizable equity base provide durable financial flexibility to fund R&D cycles and absorb setbacks common in biosimilar development. A stronger balance sheet reduces short-term refinancing risk and preserves strategic optionality for partnering or opportunistic investments over the next 2–6 months.
Read all positive factors
Formycon AG (FYB) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€353.11M
Dividend YieldN/A
Average Volume (3M)24.96K
Price to Earnings (P/E)―
Beta (1Y)1.30
Revenue Growth-36.17%
EPS Growth48.61%
CountryDE
Employees250
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
€40.00Price Target Upside101.82% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.57
Revenue Forecast (FY)€64.70M
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 primarily makes money through partnering-driven biosimilar development and commercialization arrangements rather than operating a large in-house commercial sales infrastructure. Its key revenue streams generally include: (1) milestone pay...
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
19.82
Price Trends
19.36
Positive
20.19
Negative
21.84
Negative
Market Momentum
0.15
Positive
49.37
Neutral
18.21
Positive
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 19.82 is below the 20-day moving average (MA) of 20.49, above the 50-day MA of 19.36, and below the 200-day MA of 21.84, indicating a neutral trend. The MACD of 0.15 indicates Positive momentum. The RSI at 49.37 is Neutral, neither overbought nor oversold. The STOCH value of 18.21 is Positive, 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
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19.94
-6.81
-25.46%
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52.06%
DE:CNW
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0.02
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-44.44%
DE:MDG1
Medigene
0.02
-0.12
-85.71%
DE:HPHA
Heidelberg Pharma AG
2.61
-1.39
-34.75%
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.