Weekly Valuation Tracker
Viridian highlights a specific industry sector and provides a deep dive into valuation metrics and comparable company valuations for public companies operating in that sector. The Weekly Valuation Tracker provides proprietary, actionable valuation data.
Weekly Valuation Report – Canadian Biotech/Pharma companies with market caps between $20M and $100M.
- The most significant equity raise for the week ended August 30, 2024, was from ZYUS Life Sciences Corp., a Canadian Biotech/Pharma company with a market cap of approximately $34M. This week’s Valuation Report focuses on Canadian Biotech/Pharma companies with market caps between $20M and $100M.
- There are seven companies in this filtering of the data. A quick look at the valuation metrics shows that three of them, including ZYUS, trade at enormous EV/annualized revenues, principally because they have virtually no revenue.
- Only two of them have analyst coverages, so developing any forward multiples based on comps is a fruitless exercise.
- In situations like this, we look at the interquartile range divided by the median for each metric. The metric with the lowest number is the one with the tightest grouping of data around the median. In this case, the market-to-book ratio is the best. A look at the quartiles shows some definite positive skews to the data, with a few outliers having over 6x the market to book. Nonetheless, the median at 3.6x and lower quartile at 2.86x appear reasonable representations of the central tendency. ZYUS trades at 2.32x book, which is in line with the median.
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Valuation Tracker By Sector
The Viridian Value Tracker is the most comprehensive valuation product in the industry.
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- A broad set of 12 valuation measures assures applicability, regardless of whether the company has analyst coverage or revenues. The typically presented EV/ Projected Revenues and EV/ Projected EBITDA are available for less than 1/3 of the cannabis companies we track.
- Most valuation studies present only the average valuation measures, while the Tracker goes one step further and shows the distribution of values (the quartiles, median, and dispersion) for each measure. This gives users a more complete view of how companies in the cohort group are valued.
Weekly Sector Valuation Report – Investment/M&A Sector
- The 28 companies in the investment / M&A sector are highly varied in size and business description. Market caps range from over $1B for Compass Diversified (CODI: Nasdaq) to much smaller organizations. Seventeen of the 28 companies have market caps of less than $10M.
- “Blank check companies” make up over a fifth of the companies in this sector, and investment holding companies make up a significant percentage of the rest.
- The sector trades at medians of .51x book value and approximately 1.96x annualized revenues. Only one of the companies has analyst coverage, making forward multiples unavailable.
This Chart is Only Available to Higher Tier Memberships
Please Purchase a Premium or Enterprise membership to see more.
Weekly Sector Valuation Report – Investment/M&A Sector
- The 28 companies in the investment / M&A sector are highly varied in size and business description. Market caps range from over $1B for Compass Diversified (CODI: Nasdaq) to much smaller organizations. Seventeen of the 28 companies have market caps of less than $10M.
- “Blank check companies” make up over a fifth of the companies in this sector, and investment holding companies make up a significant percentage of the rest.
- The sector trades at medians of .51x book value and approximately 1.96x annualized revenues. Only one of the companies has analyst coverage, making forward multiples unavailable.
