Company Valuation: Nektar Therapeutics

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,493 424.8 107.8 171.5 860 1,604 - -
Change - -82.96% -74.63% 59.16% 401.35% 86.55% - -
Enterprise Value (EV) 1 1,759 -80.2 72.51 127.3 860 1,516 1,394 1,208
Change - -104.56% 190.41% 75.56% 575.63% 76.31% -8.07% -13.36%
P/E -4.72x -1.15x -0.39x -1.6x -4.35x -5.81x -4.58x -4.42x
PBR 3.69x 1.16x 0.83x 3.15x - 1.97x 4.3x 4.04x
PEG - 0x 0x 0x -0.4x 0.3x -0.2x -1.18x
Capitalization / Revenue 24.5x 4.61x 1.2x 1.74x 15.6x 38.3x 28.1x 45.7x
EV / Revenue 17.3x -0.87x 0.8x 1.29x 15.6x 36.2x 24.5x 34.4x
EV / EBITDA -4.07x 0.22x -0.28x -0.9x -6.18x -6.31x -3.49x -2.77x
EV / EBIT -3.94x 0.21x -0.27x -0.87x -6.14x -6.38x -3.92x -2.96x
EV / FCF -4.11x 0.26x -0.37x -0.72x -4.12x -6.47x -7.78x -3.41x
FCF Yield -24.3% 386% -267% -139% -24.3% -15.5% -12.9% -29.3%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -42.9 -29.55 -21.75 -8.7 -9.73 -8.087 -10.25 -10.64
Distribution rate - - - - - - - -
Net sales 1 101.9 92.06 90.12 98.43 55.23 41.88 57 35.13
EBITDA 1 -432.3 -363.1 -255.9 -141.2 -139.1 -240.4 -399.4 -435.4
EBIT 1 -446.4 -376.2 -263.7 -145.6 -140.1 -237.7 -355.7 -407.8
Net income 1 -523.8 -368.2 -276.1 -119 -164.1 -244.7 -353.7 -406.1
Net Debt 1 -734 -505 -35.28 -44.25 - -88.02 -210.4 -396.6
Reference price 2 202.65 33.90 8.47 13.95 42.28 46.99 46.99 46.99
Nbr of stocks (in thousands) 12,304 12,530 12,718 12,297 20,342 34,143 - -
Announcement Date 2/28/22 2/28/23 3/4/24 3/12/25 3/12/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-7.49x47.26x-8.23x-.--% 2.07B
21.73x7.77x15.61x1.37% 74.46B
31.25x9.01x28.06x0.04% 60.14B
33.64x6.03x18.07x0.97% 48.15B
34.63x3.34x14.4x-.--% 44.25B
-21.16x229.18x-22.81x-.--% 43.99B
47.94x5.54x30.43x-.--% 41.61B
26.89x7.76x19.96x0.42% 29.97B
33.91x7.26x18.84x-.--% 29.31B
-70.02x13.44x-68.51x-.--% 24.93B
Average 13.13x 33.66x 4.58x 0.28% 39.89B
Weighted average by Cap. 19.44x 31.96x 10.14x 0.41%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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