Sinovac Biotech (SVA) AI Stock Analysis

• Market Cap: $460.27M
• Dividend Yield: N/A
• Average Volume (3M): 8.23K
• Price to Earnings (P/E): ―
• Beta (1Y): N/A
• Revenue Growth: 1.98%
• EPS Growth: 63.69%
• Country: US
• Employees: 1,959
• Sector: Healthcare
• Sector Strength: 42
• Industry: Biotechnology
• EPS (TTM): -1.31
• Shares Outstanding: 71,860,700
• 10 Day Avg. Volume: 8,227
• 30 Day Avg. Volume: 8,227
• PEG Ratio: N/A
• Price to Book (P/B): 0.07
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -11.15
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 50 Neutral
• Price Target: ―

Sinovac Biotech's overall score reflects its strong liquidity and balance sheet, offset by poor financial performance and lack of earnings. The technical indicators suggest neutrality, and the valuation appears unattractive due to the negative P/E ratio.

Sinovac Biotech Business Overview & Revenue Model

Company Description

Sinovac Biotech Ltd., a biopharmaceutical company, focuses in the research, development, manufacture, and commercialization of vaccines against human infectious diseases in the People's Republic of China. The company's product portfolio includes vaccines against hepatitis A and B; hand, foot, and mouth diseases caused by enterovirus 71 (EV71); seasonal influenza; H5N1 and H1N1 pandemic influenza; coronavirus; varicella; and mumps. Its marketed products include Healive, an inactivated hepatitis A vaccine; Bilive, a combined inactivated hepatitis A and B vaccine; Anflu, a split viron influenza vaccine; Panflu, a vaccine against the H5N1 influenza virus; Panflu.1, a vaccine against the influenza A H1N1 virus; mumps vaccine to treat viral disease in human species; split viron pandemic influenza vaccine; and Inlive, an EV71 vaccine. The company also offers varicella, a vaccine to treat contagious infectious disease; pneumococcal polysaccharide vaccine, a vaccine to prevent streptococcus pneumoniae infections, such as pneumonia and septicemia; quadrivalent influenza vaccine, a vaccine to protect against two influenza A viruses and two influenza B viruses; and CoronaVac, a vaccine against COVID-19. In addition, its pipeline products include sabin inactivated polio vaccine, a vaccine to treat Poliomyelitis that has completed phase III clinical trial; and rubella vaccine. The company has collaboration agreements with GlaxoSmithKline Biologicals SA to develop combination vaccines containing measles for the China market; Tianjin CanSino Biotechnology Inc. to develop a pneumococcal vaccine; and Instituto Butantan to advance the clinical trials of CoronaVac, an inactivated vaccine candidate against COVID-19 to Phase III. Sinovac Biotech Ltd. was founded in 1993 and is headquartered in Beijing, the People's Republic of China.

How the Company Makes Money

Sinovac Biotech generates revenue primarily through the sale of vaccines to both government and private sector clients. The company's key revenue streams include domestic sales within China and international sales to countries around the world. Sinovac's COVID-19 vaccine, CoronaVac, has become a significant contributor to its revenue, especially during the global pandemic. Additionally, the company benefits from partnerships and collaborations with various health organizations and governments to support vaccine distribution and immunization programs. Sinovac also invests in research and development to innovate and expand its vaccine offerings, which can lead to new revenue opportunities in emerging markets.

Sinovac Biotech Financial Statement Overview

Summary

Sinovac Biotech's financial performance is mixed. The income statement shows a drastic decline in revenue and a net loss, but the balance sheet is strong with high liquidity and low debt. Cash flow is volatile but has potential for improvement.

Income Statement

Sinovac Biotech's income statement shows a drastic decline in revenue from 2021 to 2023, with revenue falling from approximately $19.4 billion to $448 million. The company also experienced a significant drop in net income, turning from a profit of $8.5 billion in 2021 to a net loss of $99.9 million in 2023. The gross profit margin declined substantially, indicating challenges in cost management and revenue generation. Despite this, the company exhibited strong profits in earlier years, suggesting potential for recovery.

Balance Sheet

The balance sheet of Sinovac Biotech remains relatively strong, with a significant amount of cash and short-term investments totaling over $11 billion, and a low total debt of $299 million, resulting in a negative net debt position. This indicates high liquidity and financial flexibility. The equity ratio is solid, suggesting a stable capital structure. However, the decline in stockholders' equity from 2021 to 2023 reflects the company's recent financial struggles.

Cash Flow

The cash flow statement reveals volatility, with operating cash flow turning positive in 2023 after a significant negative cash flow in 2022. Free cash flow remains negative, indicating ongoing challenges in generating cash from operations after capital expenditures. The company has shown strong cash flow generation capability in the past, suggesting potential for improvement if operational issues are addressed.

Breakdown
Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
448.27M	1.49B	19.37B	510.62M	246.05M
	Gross Profit
266.75M	808.30M	18.30B	443.44M	213.58M
	EBIT
-546.72M	-466.07M	17.55B	215.64M	68.56M
	EBITDA
-6.03M	183.10M	17.65B	221.76M	76.05M
	Net Income Common Stockholders
-99.92M	113.87M	8.47B	110.37M	44.93M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
11.22B	11.31B	13.42B	1.18B	202.99M
	Total Assets
13.66B	14.11B	16.75B	1.90B	452.30M
	Total Debt
298.98M	74.67M	144.91M	136.39M	20.27M
	Net Debt
-971.15M	-4.20B	-11.46B	-904.62M	-132.45M
	Total Liabilities
1.64B	1.40B	2.87B	781.20M	100.10M
	Stockholders Equity
8.71B	8.92B	9.33B	746.47M	294.02M
Cash Flow		Free Cash Flow
-41.69M	-1.17B	14.63B	351.66M	28.45M
	Operating Cash Flow
104.00M	-770.75M	15.35B	479.31M	39.07M
	Investing Cash Flow
-2.93B	-5.76B	-3.02B	-204.76M	-42.45M
	Financing Cash Flow
-76.06M	-241.40M	-1.90B	592.57M	1.74M

Sinovac Biotech Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	53 Neutral	$5.24B	3.28	-44.98%	2.81%	16.82%	-0.32%
SVA	50 Neutral	$460.27M	―	-1.44%	―	1.98%	63.69%
ABCL	50 Neutral	$638.76M	―	-15.59%	―	-35.41%	-12.26%
MRVI	47 Neutral	$542.42M	―	-45.75%	―	-11.76%	-15.82%
TERN	45 Neutral	$286.47M	―	-32.12%	―	―	10.98%
PHVS	42 Neutral	$898.59M	―	-51.85%	―	―	0.71%
SANA	33 Underperform	$496.22M	―	-71.44%	―	―	19.94%