Balance Sheet Legend Biotech Corporation

Equities

LEGN

US52490G1022

Biotechnology & Medical Research

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09-04	Transcript : Legend Biotech Corporation Presents at Morgan Stanley 22nd Annual Global Healthcare Conference, Sep-04-2024 02:35 PM
08-27	Legend Biotech Says China's National Medical Products Administration Approves Cell Therapy Product to Treat Multiple Myeloma	MT

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Published financial data: LEGEND BIOTECH CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	57.26M	75.68M	89.79M	117M	285M
Other Revenues, Total	1.68M	3.07M	1.77M	328K	179K
Total Revenues	58.95M	78.75M	91.56M	117M	285M
Cost of Goods Sold, Total	-	-	-	401M	526M
Gross Profit	58.95M	78.75M	91.56M	-284M	-241M
Selling General & Admin Expenses, Total	32.37M	72.72M	149M	174M	201M
R&D Expenses	162M	232M	313M	-	-
Other Operating Expenses	-138K	-4K	-	-	-
Other Operating Expenses, Total	194M	305M	463M	174M	201M
Operating Income	-135M	-226M	-371M	-458M	-442M
Interest Expense, Total	-223K	-195K	-900K	-10.8M	-21.79M
Interest And Investment Income	4.58M	2.93M	971K	8.18M	54.49M
Net Interest Expenses	4.36M	2.74M	71K	-2.61M	32.69M
Currency Exchange Gains (Loss)	250K	66K	-	-	-
Other Non Operating Income (Expenses)	-221K	-4.36M	-14.04M	14.82M	-111M
EBT, Excl. Unusual Items	-131M	-228M	-385M	-446M	-521M
Gain (Loss) On Sale Of Investments	474K	47K	-	603K	663K
Gain (Loss) On Sale Of Assets	-	-	-974K	-481K	-226K
Other Unusual Items	-	-79.98M	-	-	-
EBT, Incl. Unusual Items	-130M	-308M	-386M	-446M	-520M
Income Tax Expense	2.6M	-4.14M	1K	625K	-1.86M
Earnings From Continuing Operations	-133M	-303M	-386M	-446M	-518M
Net Income to Company	-133M	-303M	-386M	-446M	-518M
Net Income - (IS)	-133M	-303M	-386M	-446M	-518M
Net Income to Common Incl Extra Items	-133M	-303M	-386M	-446M	-518M
Net Income to Common Excl. Extra Items	-133M	-303M	-386M	-446M	-518M
Per Share Items
Net EPS - Basic	-1.33	-2.57	-2.74	-2.81	-2.94
Basic EPS - Continuing Operations	-1.33	-2.57	-2.74	-2.81	-2.94
Basic Weighted Average Shares Outstanding	100M	118M	141M	159M	176M
Net EPS - Diluted	-1.33	-2.57	-2.74	-2.81	-2.94
Diluted EPS - Continuing Operations	-1.33	-2.57	-2.74	-2.81	-2.94
Diluted Weighted Average Shares Outstanding	100M	118M	141M	159M	176M
Normalized Basic EPS	-0.82	-1.2	-1.71	-1.75	-1.85
Normalized Diluted EPS	-0.82	-1.2	-1.71	-1.75	-1.85
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	-131M	-218M	-360M	-448M	-432M
EBITA	-135M	-226M	-371M	-458M	-442M
EBIT	-135M	-226M	-371M	-458M	-442M
EBITDAR	-	-	-360M	-447M	-429M
Total Revenues (As Reported)	-	-	-	117M	285M
Effective Tax Rate - (Ratio)	-2	1.35	-0	-0.14	0.36
Current Domestic Taxes	-65.95M	-3.61M	-	224K	511K
Current Foreign Taxes	-371K	-532K	1K	401K	-2.38M
Total Current Taxes	-66.32M	-4.14M	1K	625K	-1.86M
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	68.92M	-	-	-	-
Normalized Net Income	-81.78M	-142M	-241M	-279M	-325M
Interest on Long-Term Debt	199K	195K	142K	527K	1.39M
Supplemental Operating Expense Items
Selling and Marketing Expenses	25.62M	49.57M	103M	93.42M	94.16M
General and Administrative Expenses	6.75M	23.15M	46.94M	80.63M	107M
Research And Development Expense From Footnotes	162M	232M	313M	336M	382M
Net Rental Expense, Total	-	-	182K	1.13M	2.34M
Imputed Operating Lease Interest Expense	-	-	20.69K	480K	1.33M
Imputed Operating Lease Depreciation	-	-	161K	652K	1.01M
Stock-Based Comp., Other (Total)	1.27M	4.76M	20.16M	34.34M	47.68M
Total Stock-Based Compensation	1.27M	4.76M	20.16M	34.34M	47.68M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	83.36M	456M	689M	786M	1.28B
Short Term Investments	75.56M	50M	193M	54.02M	30.34M
Trading Asset Securities, Total	-	-	-	186M	663K
Total Cash And Short Term Investments	159M	506M	882M	1.03B	1.31B
Accounts Receivable, Total	29.99M	74.98M	50.41M	278K	101M
Other Receivables	5.77M	6.55M	7.04M	45.24M	55.63M
Total Receivables	35.76M	81.53M	57.45M	45.52M	157M
Inventory	1.16M	1.8M	1.75M	10.35M	19.43M
Prepaid Expenses	3.8M	3.46M	5.72M	16.33M	12.23M
Other Current Assets, Total	7.47M	384K	1.44M	1.27M	357K
Total Current Assets	207M	593M	949M	1.1B	1.5B
Gross Property Plant And Equipment	84.25M	135M	176M	186M	224M
Accumulated Depreciation	-4.82M	-13.41M	-22.63M	-25.21M	-35M
Net Property Plant And Equipment	79.43M	121M	153M	161M	189M
Long-term Investments	-	-	4.7M	-	4.36M
Other Intangibles, Total	519K	2.85M	4.68M	3.41M	4.06M
Accounts Receivable Long-Term	-	-	-	395K	285K
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	665K	4.2M	7.32M	67.28M	153M
Total Assets	288M	721M	1.12B	1.33B	1.85B
Liabilities
Accounts Payable, Total	9.59M	4.91M	7.04M	32.89M	20.16M
Accrued Expenses, Total	6.63M	13.61M	106M	153M	105M
Short-term Borrowings	-	327K	-	-	-
Current Portion of Leases	1.03M	1.46M	911K	3.56M	3.18M
Current Income Taxes Payable	-	-	515K	9.77M	7.2M
Unearned Revenue Current, Total	46.29M	55.3M	60.95M	451K	53.08M
Other Current Liabilities	64.22M	85.56M	105M	98.38M	27.39M
Total Current Liabilities	128M	161M	280M	298M	216M
Long-Term Debt	-	-	120M	261M	281M
Long-Term Leases	5.06M	1.91M	1.59M	20.04M	44.17M
Unearned Revenue Non Current	278M	277M	244M	7.66M	55.27M
Other Non Current Liabilities	-	554K	396K	233K	56K
Total Liabilities	411M	441M	647M	587M	597M
Common Stock, Total	20K	27K	31K	33K	36K
Additional Paid In Capital	3.91M	708M	1.26B	1.66B	2.64B
Retained Earnings	-127M	-431M	-817M	-966M	-1.48B
Comprehensive Income and Other	485K	2.68M	26.69M	53.72M	98.92M
Total Common Equity	-123M	280M	471M	744M	1.25B
Total Equity	-123M	280M	471M	744M	1.25B
Total Liabilities And Equity	288M	721M	1.12B	1.33B	1.85B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	100M	133M	154M	165M	182M
ECS Total Common Shares Outstanding	100M	133M	154M	165M	182M
Book Value / Share	-1.23	2.11	3.06	4.51	6.88
Tangible Book Value	-123M	277M	467M	741M	1.25B
Tangible Book Value Per Share	-1.23	2.09	3.02	4.49	6.86
Total Debt	6.08M	3.7M	123M	285M	329M
Net Debt	-153M	-502M	-759M	-741M	-980M
Debt Equivalent Oper. Leases	-	-	1.46M	9.06M	18.7M
Account Code - Inventory Valuation	5	5	6	5	5
Inventories - Raw Materials, Total	1.16M	1.8M	1.75M	6.99M	13.16M
Inventories - Work In Process, Total	-	-	-	690K	2.99M
Inventories - Finished Goods, Total	-	-	-	2.68M	3.29M
Land - (BS)	2.89M	2.89M	2.89M	2.89M	2.89M
Buildings, Total	32.53M	45.83M	59.66M	45.08M	65.54M
Machinery, Total	29.35M	40.75M	52.31M	46.26M	49.14M
Full Time Employees	645	882	1.07K	1.39K	1.8K
Accumulated Allowance for Doubtful Accounts (Supple)	9K	22K	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	-133M	-303M	-386M	-446M	-518M
Depreciation & Amortization - CF	5.2M	9.74M	12.54M	15.92M	18.53M
Depreciation & Amortization, Total	5.2M	9.74M	12.54M	15.92M	18.53M
Amortization of Deferred Charges, Total - (CF)	63K	192K	1.38M	2.48M	1.92M
(Gain) Loss From Sale Of Asset	-	55K	974K	481K	226K
(Gain) Loss on Sale of Investments - (CF)	-474K	-47K	-	-593K	-663K
Stock-Based Compensation (CF)	1.27M	4.76M	20.16M	34.34M	47.68M
Provision and Write-off of Bad Debts	1K	13K	-22K	-	-
Other Operating Activities, Total	-8.64M	87.22M	11.77M	-47K	129M
Change In Accounts Receivable	-3.77M	-45M	24.59M	50.32M	-98.98M
Change In Inventories	-22K	-643K	51K	-8.6M	-12.71M
Change In Accounts Payable	2.01M	-4.35M	1.8M	25.85M	-12.7M
Change in Unearned Revenues	26.47M	8.48M	-22.23M	6.18M	100M
Change in Other Net Operating Assets	27.8M	20.05M	137M	119M	-46.96M
Cash from Operations	-83.06M	-223M	-198M	-201M	-393M
Capital Expenditure	-38.64M	-45.75M	-43.9M	-20.93M	-20.08M
Sale of Property, Plant, and Equipment	74K	1K	4K	-	-
Sale (Purchase) of Intangible assets	-534K	-4.03M	-3.21M	-1.35M	-2.64M
Investment in Marketable and Equity Securities, Total	-69.54M	25.56M	-148M	-41.36M	205M
Other Investing Activities, Total	49.99M	47K	-	-13.45M	-89.07M
Cash from Investing	-58.65M	-24.17M	-195M	-77.09M	92.79M
Short Term Debt Issued, Total	41.81M	-	-	-	-
Total Debt Issued	41.81M	-	-	-	-
Short Term Debt Repaid, Total	-22.09M	-4K	-	-	-
Long-Term Debt Repaid, Total	-5.06M	-2.6M	-1.42M	-2.6M	-3.76M
Total Debt Repaid	-27.15M	-2.61M	-1.42M	-2.6M	-3.76M
Issuance of Common Stock	-	464M	628M	381M	795M
Issuance of Preferred Stock	-	160M	-	-	-
Other Financing Activities, Total	-	-2.51M	-	-	-
Cash from Financing	14.67M	619M	627M	378M	791M
Foreign Exchange Rate Adjustments	249K	620K	34K	-2.51M	682K
Net Change in Cash	-127M	372M	233M	97.09M	492M
Supplemental Items
Cash Interest Paid	223K	195K	142K	527K	1.39M
Cash Income Tax Paid (Refund)	15.43M	-7.11M	-557K	-3.71M	-308K
Levered Free Cash Flow	-86.52M	-183M	-105M	-203M	-441M
Unlevered Free Cash Flow	-86.38M	-183M	-104M	-196M	-428M
Change In Net Working Capital	-30.77M	6.35M	-141M	-59.92M	197M
Net Debt Issued / Repaid	14.67M	-2.61M	-1.42M	-2.6M	-3.76M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	-23.58	-28.02	-25.23	-23.37	-17.38
Return on Total Capital	163.22	-169.08	-52.85	-29.86	-21.19
Return On Equity %	232.83	-385.65	-102.79	-59.11	-51.94
Return on Common Equity	232.83	-385.65	-102.79	-59.11	-51.94
Margin Analysis
Gross Profit Margin %	100	100	100	-242.73	-84.62
SG&A Margin	54.92	92.34	163.25	148.75	70.47
EBITDA Margin %	-222.63	-276.68	-393.41	-382.79	-151.33
EBITA Margin %	-229.42	-287.15	-405.47	-391.48	-155.09
EBIT Margin %	-229.42	-287.15	-405.47	-391.48	-155.09
Income From Continuing Operations Margin %	-225.58	-385.38	-421.8	-381.48	-181.75
Net Income Margin %	-225.58	-385.38	-421.8	-381.48	-181.75
Net Avail. For Common Margin %	-225.58	-385.38	-421.8	-381.48	-181.75
Normalized Net Income Margin	-138.73	-180.71	-262.96	-238.16	-114.1
Levered Free Cash Flow Margin	-146.78	-232.23	-114.51	-173.2	-154.73
Unlevered Free Cash Flow Margin	-146.55	-232.08	-113.9	-167.44	-149.95
Asset Turnover
Asset Turnover	0.16	0.16	0.1	0.1	0.18
Fixed Assets Turnover	1.06	0.79	0.67	0.78	1.63
Receivables Turnover (Average Receivables)	2.04	1.44	1.43	4.6	5.6
Inventory Turnover (Average Inventory)	-	-	-	66.27	35.35
Short Term Liquidity
Current Ratio	1.62	3.68	3.39	3.69	6.92
Quick Ratio	1.52	3.64	3.35	3.6	6.77
Operating Cash Flow to Current Liabilities	-0.65	-1.38	-0.71	-0.68	-1.82
Days Sales Outstanding (Average Receivables)	179.15	253.84	254.85	79.43	65.14
Days Outstanding Inventory (Average Inventory)	-	-	-	5.51	10.33
Average Days Payable Outstanding	-	-	-	17.79	18.08
Cash Conversion Cycle (Average Days)	-	-	-	67.15	57.38
Long Term Solvency
Total Debt/Equity	-4.95	1.32	26.1	38.23	26.26
Total Debt / Total Capital	-5.21	1.3	20.7	27.66	20.8
LT Debt/Equity	-4.12	0.68	25.9	37.75	26.01
Long-Term Debt / Total Capital	-4.33	0.67	20.54	27.31	20.6
Total Liabilities / Total Assets	142.71	61.13	57.87	44.08	32.31
EBIT / Interest Expense	-606.42	-1.16K	-412.52	-42.43	-20.29
EBITDA / Interest Expense	-583.1	-1.11K	-398.58	-40.95	-19.44
(EBITDA - Capex) / Interest Expense	-756.36	-1.34K	-447.37	-42.89	-20.36
Total Debt / EBITDA	-0.05	-0.02	-0.34	-0.64	-0.78
Net Debt / EBITDA	1.18	2.32	2.12	1.68	2.31
Total Debt / (EBITDA - Capex)	-0.04	-0.01	-0.31	-0.61	-0.74
Net Debt / (EBITDA - Capex)	0.91	1.92	1.89	1.6	2.21
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	19.1	33.59	16.27	70	143.7
Gross Profit, 1 Yr. Growth %	19.1	33.59	16.27	16.15	-15.04
EBITDA, 1 Yr. Growth %	822.4	66.03	65.33	16.07	-3.65
EBITA, 1 Yr. Growth %	797.23	67.21	64.18	16.25	-3.46
EBIT, 1 Yr. Growth %	797.23	67.21	64.18	16.25	-3.46
Earnings From Cont. Operations, 1 Yr. Growth %	4.68K	128.23	27.26	10.6	16.11
Net Income, 1 Yr. Growth %	4.68K	128.23	27.26	10.6	16.11
Normalized Net Income, 1 Yr. Growth %	7.57K	74.01	69.24	9.75	16.76
Diluted EPS Before Extra, 1 Yr. Growth %	4.68K	93.16	6.75	-2.05	4.87
Accounts Receivable, 1 Yr. Growth %	14.38	150	-32.77	-99.45	36.39K
Inventory, 1 Yr. Growth %