Intrinsic value of Dynavax Technologies Corporation - DVAX

Previous Close

$3.81

  Intrinsic Value

$0.18

stock screener

  Rating & Target

str. sell

-95%

Previous close

$3.81

 
Intrinsic value

$0.18

 
Up/down potential

-95%

 
Rating

str. sell

We calculate the intrinsic value of DVAX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  13
  20
  30
  43
  61
  83
  112
  147
  189
  238
  296
  362
  436
  519
  610
  710
  818
  934
  1,058
  1,189
  1,328
  1,474
  1,628
  1,789
  1,957
  2,132
  2,314
  2,504
  2,701
  2,906
Variable operating expenses, $m
  753
  1,162
  1,737
  2,519
  3,553
  4,884
  6,556
  8,607
  11,075
  13,988
  17,368
  21,234
  25,594
  30,452
  35,806
  41,651
  47,979
  54,779
  62,040
  69,751
  77,903
  86,486
  95,495
  104,925
  114,774
  125,044
  135,740
  146,869
  158,439
  170,466
Fixed operating expenses, $m
  81
  83
  84
  86
  88
  90
  92
  94
  96
  98
  100
  103
  105
  107
  109
  112
  114
  117
  119
  122
  125
  128
  130
  133
  136
  139
  142
  145
  148
  152
Total operating expenses, $m
  834
  1,245
  1,821
  2,605
  3,641
  4,974
  6,648
  8,701
  11,171
  14,086
  17,468
  21,337
  25,699
  30,559
  35,915
  41,763
  48,093
  54,896
  62,159
  69,873
  78,028
  86,614
  95,625
  105,058
  114,910
  125,183
  135,882
  147,014
  158,587
  170,618
Operating income, $m
  -821
  -1,225
  -1,791
  -2,562
  -3,581
  -4,891
  -6,536
  -8,555
  -10,982
  -13,848
  -17,172
  -20,975
  -25,263
  -30,040
  -35,306
  -41,053
  -47,275
  -53,962
  -61,102
  -68,684
  -76,700
  -85,139
  -93,997
  -103,269
  -112,954
  -123,052
  -133,568
  -144,510
  -155,887
  -167,712
EBITDA, $m
  -814
  -1,215
  -1,779
  -2,545
  -3,557
  -4,858
  -6,492
  -8,498
  -10,910
  -13,757
  -17,062
  -20,840
  -25,100
  -29,847
  -35,078
  -40,788
  -46,970
  -53,613
  -60,707
  -68,241
  -76,204
  -84,589
  -93,390
  -102,602
  -112,224
  -122,257
  -132,705
  -143,576
  -154,879
  -166,628
Interest expense (income), $m
  0
  19
  19
  34
  54
  83
  121
  169
  230
  304
  394
  500
  623
  764
  923
  1,099
  1,294
  1,507
  1,737
  1,985
  2,249
  2,529
  2,826
  3,138
  3,466
  3,809
  4,168
  4,541
  4,931
  5,336
  5,757
Earnings before tax, $m
  -839
  -1,243
  -1,825
  -2,617
  -3,664
  -5,012
  -6,705
  -8,784
  -11,287
  -14,242
  -17,673
  -21,598
  -26,027
  -30,963
  -36,405
  -42,348
  -48,782
  -55,699
  -63,086
  -70,933
  -79,229
  -87,965
  -97,136
  -106,735
  -116,763
  -127,220
  -138,110
  -149,441
  -161,223
  -173,468
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -839
  -1,243
  -1,825
  -2,617
  -3,664
  -5,012
  -6,705
  -8,784
  -11,287
  -14,242
  -17,673
  -21,598
  -26,027
  -30,963
  -36,405
  -42,348
  -48,782
  -55,699
  -63,086
  -70,933
  -79,229
  -87,965
  -97,136
  -106,735
  -116,763
  -127,220
  -138,110
  -149,441
  -161,223
  -173,468

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  164
  254
  379
  550
  776
  1,067
  1,432
  1,881
  2,420
  3,057
  3,796
  4,641
  5,594
  6,655
  7,825
  9,103
  10,486
  11,972
  13,559
  15,244
  17,025
  18,901
  20,870
  22,931
  25,083
  27,328
  29,666
  32,098
  34,626
  37,255
Adjusted assets (=assets-cash), $m
  164
  254
  379
  550
  776
  1,067
  1,432
  1,881
  2,420
  3,057
  3,796
  4,641
  5,594
  6,655
  7,825
  9,103
  10,486
  11,972
  13,559
  15,244
  17,025
  18,901
  20,870
  22,931
  25,083
  27,328
  29,666
  32,098
  34,626
  37,255
Revenue / Adjusted assets
  0.079
  0.079
  0.079
  0.078
  0.079
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
  0.078
Average production assets, $m
  34
  52
  78
  114
  160
  220
  296
  389
  500
  632
  784
  959
  1,156
  1,375
  1,617
  1,881
  2,167
  2,474
  2,802
  3,150
  3,518
  3,905
  4,312
  4,738
  5,183
  5,647
  6,130
  6,632
  7,155
  7,698
Working capital, $m
  -16
  -24
  -36
  -53
  -74
  -102
  -137
  -180
  -232
  -293
  -364
  -445
  -536
  -637
  -750
  -872
  -1,004
  -1,147
  -1,299
  -1,460
  -1,631
  -1,810
  -1,999
  -2,196
  -2,403
  -2,618
  -2,841
  -3,074
  -3,317
  -3,568
Total debt, $m
  101
  181
  294
  448
  652
  913
  1,242
  1,646
  2,131
  2,704
  3,369
  4,130
  4,987
  5,943
  6,996
  8,146
  9,390
  10,728
  12,156
  13,673
  15,276
  16,964
  18,736
  20,591
  22,528
  24,548
  26,652
  28,841
  31,117
  33,482
Total liabilities, $m
  148
  228
  341
  495
  699
  960
  1,289
  1,693
  2,178
  2,751
  3,416
  4,177
  5,034
  5,990
  7,043
  8,193
  9,437
  10,775
  12,203
  13,720
  15,323
  17,011
  18,783
  20,638
  22,575
  24,595
  26,699
  28,888
  31,164
  33,529
Total equity, $m
  16
  25
  38
  55
  78
  107
  143
  188
  242
  306
  380
  464
  559
  666
  783
  910
  1,049
  1,197
  1,356
  1,524
  1,703
  1,890
  2,087
  2,293
  2,508
  2,733
  2,967
  3,210
  3,463
  3,725
Total liabilities and equity, $m
  164
  253
  379
  550
  777
  1,067
  1,432
  1,881
  2,420
  3,057
  3,796
  4,641
  5,593
  6,656
  7,826
  9,103
  10,486
  11,972
  13,559
  15,244
  17,026
  18,901
  20,870
  22,931
  25,083
  27,328
  29,666
  32,098
  34,627
  37,254
Debt-to-equity ratio
  6.140
  7.150
  7.760
  8.150
  8.400
  8.560
  8.670
  8.750
  8.810
  8.850
  8.880
  8.900
  8.920
  8.930
  8.940
  8.950
  8.960
  8.960
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
  8.980
  8.980
  8.980
  8.990
  8.990
  8.990
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -839
  -1,243
  -1,825
  -2,617
  -3,664
  -5,012
  -6,705
  -8,784
  -11,287
  -14,242
  -17,673
  -21,598
  -26,027
  -30,963
  -36,405
  -42,348
  -48,782
  -55,699
  -63,086
  -70,933
  -79,229
  -87,965
  -97,136
  -106,735
  -116,763
  -127,220
  -138,110
  -149,441
  -161,223
  -173,468
Depreciation, amort., depletion, $m
  6
  9
  13
  18
  24
  33
  43
  56
  72
  91
  110
  135
  163
  194
  228
  265
  305
  348
  395
  444
  495
  550
  607
  667
  730
  795
  863
  934
  1,008
  1,084
Funds from operations, $m
  -833
  -1,234
  -1,812
  -2,599
  -3,639
  -4,979
  -6,661
  -8,728
  -11,215
  -14,152
  -17,562
  -21,463
  -25,864
  -30,769
  -36,177
  -42,083
  -48,477
  -55,351
  -62,692
  -70,489
  -78,734
  -87,415
  -96,528
  -106,068
  -116,033
  -126,424
  -137,247
  -148,507
  -160,215
  -172,384
Change in working capital, $m
  -6
  -9
  -12
  -16
  -22
  -28
  -35
  -43
  -52
  -61
  -71
  -81
  -91
  -102
  -112
  -122
  -132
  -142
  -152
  -161
  -171
  -180
  -189
  -197
  -206
  -215
  -224
  -233
  -242
  -252
Cash from operations, $m
  -827
  -1,226
  -1,800
  -2,583
  -3,618
  -4,951
  -6,626
  -8,685
  -11,163
  -14,091
  -17,491
  -21,382
  -25,773
  -30,668
  -36,065
  -41,960
  -48,345
  -55,208
  -62,540
  -70,328
  -78,563
  -87,236
  -96,340
  -105,871
  -115,827
  -126,209
  -137,023
  -148,274
  -159,973
  -172,132
Maintenance CAPEX, $m
  -3
  -5
  -7
  -11
  -16
  -23
  -31
  -42
  -55
  -70
  -89
  -110
  -135
  -163
  -194
  -228
  -265
  -305
  -348
  -395
  -444
  -495
  -550
  -607
  -667
  -730
  -795
  -863
  -934
  -1,008
New CAPEX, $m
  -13
  -18
  -26
  -35
  -47
  -60
  -75
  -93
  -111
  -132
  -153
  -175
  -197
  -219
  -242
  -264
  -286
  -307
  -328
  -348
  -368
  -388
  -407
  -426
  -445
  -464
  -483
  -503
  -523
  -543
Cash from investing activities, $m
  -16
  -23
  -33
  -46
  -63
  -83
  -106
  -135
  -166
  -202
  -242
  -285
  -332
  -382
  -436
  -492
  -551
  -612
  -676
  -743
  -812
  -883
  -957
  -1,033
  -1,112
  -1,194
  -1,278
  -1,366
  -1,457
  -1,551
Free cash flow, $m
  -843
  -1,249
  -1,833
  -2,629
  -3,680
  -5,034
  -6,733
  -8,819
  -11,329
  -14,293
  -17,733
  -21,667
  -26,105
  -31,050
  -36,501
  -42,452
  -48,895
  -55,821
  -63,216
  -71,071
  -79,375
  -88,119
  -97,297
  -106,904
  -116,939
  -127,403
  -138,301
  -149,640
  -161,429
  -173,683
Issuance/(repayment) of debt, $m
  0
  80
  113
  154
  203
  262
  329
  404
  485
  573
  665
  760
  858
  956
  1,053
  1,150
  1,245
  1,337
  1,428
  1,517
  1,603
  1,688
  1,772
  1,855
  1,937
  2,020
  2,104
  2,189
  2,276
  2,366
Issuance/(repurchase) of shares, $m
  901
  1,252
  1,837
  2,634
  3,686
  5,041
  6,741
  8,829
  11,341
  14,306
  17,747
  21,683
  26,122
  31,069
  36,522
  42,475
  48,921
  55,848
  63,245
  71,102
  79,407
  88,153
  97,332
  106,941
  116,978
  127,444
  138,344
  149,684
  161,476
  173,731
Cash from financing (excl. dividends), $m  
  901
  1,332
  1,950
  2,788
  3,889
  5,303
  7,070
  9,233
  11,826
  14,879
  18,412
  22,443
  26,980
  32,025
  37,575
  43,625
  50,166
  57,185
  64,673
  72,619
  81,010
  89,841
  99,104
  108,796
  118,915
  129,464
  140,448
  151,873
  163,752
  176,097
Total cash flow (excl. dividends), $m
  58
  84
  117
  159
  209
  269
  337
  413
  497
  586
  679
  776
  875
  975
  1,074
  1,173
  1,270
  1,365
  1,457
  1,548
  1,636
  1,723
  1,808
  1,892
  1,977
  2,061
  2,146
  2,233
  2,322
  2,414
Retained Cash Flow (-), $m
  -901
  -1,252
  -1,837
  -2,634
  -3,686
  -5,041
  -6,741
  -8,829
  -11,341
  -14,306
  -17,747
  -21,683
  -26,122
  -31,069
  -36,522
  -42,475
  -48,921
  -55,848
  -63,245
  -71,102
  -79,407
  -88,153
  -97,332
  -106,941
  -116,978
  -127,444
  -138,344
  -149,684
  -161,476
  -173,731
Prev. year cash balance distribution, $m
  108
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -735
  -1,168
  -1,720
  -2,475
  -3,477
  -4,772
  -6,404
  -8,416
  -10,844
  -13,720
  -17,068
  -20,907
  -25,247
  -30,094
  -35,447
  -41,302
  -47,651
  -54,483
  -61,788
  -69,554
  -77,771
  -86,430
  -95,525
  -105,049
  -115,001
  -125,383
  -136,197
  -147,451
  -159,153
  -171,318
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -704
  -1,070
  -1,497
  -2,038
  -2,695
  -3,463
  -4,327
  -5,260
  -6,229
  -7,193
  -8,105
  -8,922
  -9,599
  -10,103
  -10,407
  -10,496
  -10,368
  -10,034
  -9,514
  -8,838
  -8,044
  -7,171
  -6,261
  -5,350
  -4,474
  -3,658
  -2,923
  -2,281
  -1,737
  -1,290
Current shareholders' claim on cash, %
  50.0
  2.4
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Dynavax Technologies Corporation is a clinical-stage immunotherapy company. The Company is focused on leveraging the body's innate and adaptive immune responses through toll-like receptor (TLR) stimulation. Its product candidates are being investigated for use in multiple cancer indications, as a vaccine for the prevention of hepatitis B and as a disease modifying therapy for asthma. Its products include HEPLISAV-B, AZD1419, SD-101, DV281, DV230F and DV1001. HEPLISAV-B is an investigational adult hepatitis B vaccine. AZD1419 is being developed for the treatment of asthma. SD-101 is an investigational TLR9 agonist designed to elicit a potent and focused immune response to cancer. DV281 is an investigational TLR9 agonist designed specifically for focused delivery to primary lung tumors and lung metastases. DV230F is indicated for the treatment of Liver Tumors. DV1001 targets TLR 7 and 8 agonist for multiple malignancies. DV230F and DV1001 are in pre-clinical stage of development.

FINANCIAL RATIOS  of  Dynavax Technologies Corporation (DVAX)

Valuation Ratios
P/E Ratio -1.3
Price to Sales 13.4
Price to Book 1.7
Price to Tangible Book
Price to Cash Flow -1.4
Price to Free Cash Flow -1.3
Growth Rates
Sales Growth Rate 175%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 14.3%
Cap. Spend. - 3 Yr. Gr. Rate 32%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets -68.5%
Ret/ On Assets - 3 Yr. Avg. -60.4%
Return On Total Capital -81.2%
Ret/ On T. Cap. - 3 Yr. Avg. -71.6%
Return On Equity -81.2%
Return On Equity - 3 Yr. Avg. -73.1%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin -1000%
EBITDA Margin - 3 Yr. Avg. -1481.1%
Operating Margin -1009.1%
Oper. Margin - 3 Yr. Avg. -1503.8%
Pre-Tax Margin -1018.2%
Pre-Tax Margin - 3 Yr. Avg. -1506.8%
Net Profit Margin -1018.2%
Net Profit Margin - 3 Yr. Avg. -1506.8%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

DVAX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the DVAX stock intrinsic value calculation we used $8 million for the last fiscal year's total revenue generated by Dynavax Technologies Corporation. The default revenue input number comes from 0001 income statement of Dynavax Technologies Corporation. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our DVAX stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for DVAX is calculated based on our internal credit rating of Dynavax Technologies Corporation, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Dynavax Technologies Corporation.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of DVAX stock the variable cost ratio is equal to 5887.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $79 million in the base year in the intrinsic value calculation for DVAX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 18.5% for Dynavax Technologies Corporation.

Corporate tax rate of 27% is the nominal tax rate for Dynavax Technologies Corporation. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the DVAX stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for DVAX are equal to 264.9%.

Life of production assets of 7.1 years is the average useful life of capital assets used in Dynavax Technologies Corporation operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for DVAX is equal to -122.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $63.065 million for Dynavax Technologies Corporation - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 63.997 million for Dynavax Technologies Corporation is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Dynavax Technologies Corporation at the current share price and the inputted number of shares is $0.2 billion.

RELATED COMPANIES Price Int.Val. Rating
AZN Astrazeneca PL 39.67 24.54  sell
MRK Merck & Compan 82.78 44.01  sell
IDRA Idera Pharmace 2.84 0.58  str.sell
SRPT Sarepta Therap 119.57 3.58  str.sell

CONTACT US      

About X-FIN       Privacy policy       Terms of use      

Copyright © X-FIN.com 2005-2019. All rigths reserved.