Benitec Biopharma Inc.
BNTCHealthcare|Biotechnology|US
$9.54
+0.90 (+10.42%)
DCF Value
$2.63
Tangible Book / Share
$3.80
Cash / Share
$3.87
Financials
Financial Snapshot
Market Cap
$332.8M
Enterprise Value
$153.6M
Revenue (TTM)
$0.00
Net Income (TTM)
-$45.5M
Cash & Investments
$180.0M
Net Cash
$179.2M
Free Cash Flow (TTM)
-$17.1M
Operating CF (TTM)
-$17.0M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$180.0M
Quarterly Burn
$4.2M
Monthly Burn
$1.4M
Est. Runway
~42.4 quarters
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $17.4M | $16.2M | $22.5M | $9.8M | $19.8M | $4.1M | $2.5M | $50.9M | $97.7M | $180.0M | $180.0M | |
| Operating Cash Flow | -$8.3M | -$8.6M | $4.8M | -$7.5M | -$12.8M | -$15.9M | -$18.0M | -$19.4M | -$23.6M | -$16.5M | -$17.0M | |
| Free Cash Flow | -$8.4M | -$8.6M | $4.4M | -$7.6M | -$13.1M | -$15.9M | -$18.0M | -$19.6M | -$23.6M | -$16.6M | -$17.1M | |
| Capital Expenditure | -$131.4K | -$61.0K | -$403.4K | -$95.0K | -$221.0K | -$13.0K | -$1.0K | -$179.0K | -$18.0K | -$105.0K | -$106.0K | |
| Financing Cash Flow | $7.9M | $8.5M | -$688.1K | $1.8M | $22.5M | $0.00 | $16.0M | $68.0M | $70.5M | $99.0M | $102.8M |
R&D Spending
R&D (TTM)
$25.1M
R&D Intensity
—
R&D Growth vs Prior
+7.4%
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $195.9K | $4.4M | $17.4M | $97.0K | $59.0K | $73.0K | $75.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $4.1M | $3.7M | $3.2M | $3.0M | $7.0M | $11.3M | $12.8M | $15.6M | $18.3M | $23.4M | $25.1M | |
| R&D % of Revenue | 2079.6% | 84.7% | 18.3% | 3093.8% | 11898.3% | 15441.1% | 17032.0% | — | — | — | — | |
| SG&A | $5.4M | $4.7M | $3.2M | $5.6M | $6.5M | $6.6M | $6.4M | $7.0M | $23.4M | $27.8M | $27.8M |
Income Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $195.9K | $4.4M | $17.4M | $97.0K | $59.0K | $73.0K | $75.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $160.0K | $474.0K | $622.2K | -$185.0K | $123.0K | $9.0K | $0.00 | $343.0K | $396.0K | $481.0K | $481.0K | |
| Gross Profit | $35.9K | $3.9M | $15.9M | $282.0K | -$64.0K | $64.0K | $75.0K | -$343.0K | -$396.0K | -$481.0K | -$481.0K | |
| R&D | $4.1M | $3.7M | $3.2M | $3.0M | $7.0M | $11.3M | $12.8M | $15.6M | $18.3M | $23.4M | $25.1M | |
| SG&A | $5.4M | $4.7M | $3.2M | $5.6M | $6.5M | $6.6M | $6.4M | $7.0M | $23.4M | $27.8M | $27.8M | |
| Operating Income | -$15.9M | -$8.7M | $3.7M | -$8.3M | -$13.6M | -$17.9M | -$19.1M | -$22.5M | -$41.8M | -$51.2M | -$51.2M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $6.0K | $32.0K | $33.0K | $0.00 | -$3.3M | $0.00 | -$2.4M | |
| Pretax Income | -$3.3M | -$8.6M | $3.7M | -$8.3M | -$13.9M | -$18.2M | -$19.6M | -$21.8M | -$37.9M | -$45.5M | -$45.5M | |
| Net Income | -$5.6M | -$12.3M | $3.7M | -$8.3M | -$13.9M | -$18.2M | -$19.6M | -$21.8M | -$37.9M | -$45.5M | -$45.5M | |
| EPS (Diluted) | -63.55 | -103.60 | 28.45 | -8.10 | -27.27 | -19.31 | -14.12 | -2.68 | -1.05 | -0.98 | -0.98 | |
| EBITDA | -$3.1M | -$16.5M | $2.0M | -$7.9M | -$13.5M | -$17.8M | -$18.7M | -$22.1M | -$41.4M | -$50.7M | -$50.7M | |
| Shares Out. (M) | 0.14 | 0.17 | 0.20 | 0.24 | 1.01 | 1.92 | 1.39 | 10.28 | 36.21 | 46.56 | 46.56 |
Balance Sheet
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $17.4M | $16.2M | $22.5M | $9.8M | $19.8M | $4.1M | $2.5M | $50.9M | $97.7M | $180.0M | $180.0M | |
| Short-Term Investments | $76.8K | $22.0K | $1.4K | $1.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $22.2M | $21.0M | $26.8M | $10.8M | $20.6M | $4.8M | $3.7M | $51.7M | $98.5M | $181.7M | $181.7M | |
| Total Assets | $22.7M | $21.4M | $27.5M | $11.7M | $21.4M | $6.0M | $4.5M | $52.2M | $99.6M | $182.6M | $182.6M | |
| Total Current Liabilities | $864.5K | $2.6M | $2.6M | $1.1M | $1.4M | $2.5M | $4.0M | $4.9M | $1.8M | $5.3M | $5.3M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $891.4K | $2.6M | $2.6M | $1.5M | $1.4M | $3.1M | $4.3M | $5.0M | $2.3M | $5.6M | $5.6M | |
| Stockholders' Equity | $21.6M | $13.8M | $16.6M | $10.2M | $20.0M | $2.9M | $202.0K | $47.2M | $97.3M | $177.0M | $177.0M | |
| Retained Earnings | -$136.2M | -$107.9M | -$108.9M | -$116.6M | -$130.1M | -$148.3M | -$167.9M | -$190.3M | -$228.2M | -$273.7M | -$273.7M |
Cash Flow Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8.3M | -$8.6M | $4.8M | -$7.5M | -$12.8M | -$15.9M | -$18.0M | -$19.4M | -$23.6M | -$16.5M | -$17.0M | |
| Capital Expenditure | -$131.4K | -$61.0K | -$403.4K | -$95.0K | -$221.0K | -$13.0K | -$1.0K | -$179.0K | -$18.0K | -$105.0K | -$106.0K | |
| Free Cash Flow | -$8.4M | -$8.6M | $4.4M | -$7.6M | -$13.1M | -$15.9M | -$18.0M | -$19.6M | -$23.6M | -$16.6M | -$17.1M | |
| Investing Cash Flow | -$302.0K | -$147.0K | -$399.2K | -$94.0K | -$221.0K | -$13.0K | -$1.0K | -$179.0K | -$18.0K | -$105.0K | -$106.0K | |
| Financing Cash Flow | $7.9M | $8.5M | -$688.1K | $1.8M | $22.5M | $0.00 | $16.0M | $68.0M | $70.5M | $99.0M | $102.8M | |
| Issuance of Stock | $6.2M | $6.5M | $0.00 | $2.3M | $25.8M | $0.00 | $17.9M | $70.9M | $70.5M | $99.0M | $103.6M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $386.0K | $0.00 | $957.2K | $237.0K | $634.0K | $870.0K | $452.0K | $830.0K | $17.4M | $26.4M | $18.8M | |
| Net Change in Cash | -$855.0K | -$1.3M | $4.4M | -$5.9M | $10.0M | -$15.7M | -$1.6M | $48.4M | $46.9M | $82.2M | $82.2M |
Dilution Tracker
Shares outstanding grew 4506.6% over 5 years — significant dilution
Shares Outstanding
35M
5-Year Share Growth
+4506.6%
Stock Issuance (TTM)
$103.6M
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.14 | 0.17 | 0.20 | 0.24 | 1.01 | 1.92 | 1.39 | 10.28 | 36.21 | 46.56 | 46.56 | |
| Change vs Prior % | — | 20.0% | 22.1% | 19.2% | 320.6% | 90.2% | -27.9% | 641.5% | 252.4% | 28.6% | 0.0% | |
| Stock Issuance | $6.2M | $6.5M | $0.00 | $2.3M | $25.8M | $0.00 | $17.9M | $70.9M | $70.5M | $99.0M | $103.6M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $386.0K | $0.00 | $957.2K | $237.0K | $634.0K | $870.0K | $452.0K | $830.0K | $17.4M | $26.4M | $18.8M |
Margins & Profitability
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 18.3% | 89.7% | 91.1% | 290.7% | -108.5% | 87.7% | 100.0% | — | — | — | — | |
| Operating Margin % | -8132.4% | -198.4% | 21.2% | -8537.1% | -23044.1% | -24457.5% | -25441.3% | — | — | — | — | |
| Net Margin % | -2860.4% | -280.1% | 21.4% | -8529.9% | -23528.8% | -24942.5% | -26082.7% | — | — | — | — | |
| EBITDA Margin % | -1591.9% | -375.2% | 11.6% | -8151.5% | -22800.0% | -24361.6% | -24933.3% | — | — | — | — | |
| FCF Margin % | -4306.4% | -195.7% | 25.1% | -7866.0% | -22123.7% | -21797.3% | -24017.3% | — | — | — | — | |
| ROE % | -26.0% | -89.5% | 22.5% | -80.8% | -69.4% | -631.8% | -9684.2% | -46.0% | -39.0% | -25.7% | -28.4% | |
| ROA % | -24.6% | -57.5% | 13.6% | -70.5% | -64.9% | -304.8% | -438.2% | -41.7% | -38.1% | -24.9% | -24.9% | |
| ROIC % | 152.2% | -23.5% | 14.9% | -76.7% | -67.2% | -483.5% | -2507.4% | -47.3% | -42.6% | -28.8% | -28.8% | |
| R&D / Revenue % | 2079.6% | 84.7% | 18.3% | 3093.8% | 11898.3% | 15441.1% | 17032.0% | — | — | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | -24.2% | 2146.5% | 296.5% | -99.4% | -39.2% | 23.7% | 2.7% | -100.0% | 0.0% | 0.0% | |
| Gross Profit | -80.2% | 10900.9% | 302.8% | -98.2% | -122.7% | 200.0% | 17.2% | -557.3% | -15.5% | -21.5% | |
| Operating Income | 14.5% | 45.2% | 142.3% | -324.1% | -64.2% | -31.3% | -6.9% | -17.9% | -85.7% | -22.6% | |
| Net Income | 59.4% | -120.0% | 130.3% | -321.7% | -67.8% | -31.2% | -7.4% | -11.2% | -74.3% | -20.1% | |
| EPS (Diluted) | -49.5% | -63.0% | 127.5% | -128.5% | -236.7% | 29.2% | 26.9% | 81.0% | 60.8% | 6.7% | |
| Operating Cash Flow | 58.9% | -3.0% | 156.0% | -257.3% | -70.3% | -23.9% | -13.3% | -7.7% | -21.6% | 30.0% | |
| Free Cash Flow | 58.8% | -2.1% | 150.9% | -273.9% | -71.1% | -21.9% | -13.2% | -8.7% | -20.5% | 29.6% | |
| R&D Expense | -45.0% | -8.5% | -14.3% | -6.0% | 133.9% | 60.6% | 13.3% | 22.2% | 17.4% | 27.6% | |
| SG&A Expense | -18.0% | -11.8% | -31.6% | 72.6% | 17.0% | 2.1% | -4.0% | 9.5% | 235.3% | 18.7% | |
| Total Assets | 14.6% | -5.7% | 28.3% | -57.3% | 82.0% | -72.1% | -25.3% | 1069.6% | 90.8% | 83.4% | |
| Book Value / Share | -5.7% | -28.1% | 8.1% | -65.5% | -53.5% | -92.4% | -90.3% | 3058.9% | -41.6% | 41.5% | |
| Debt | 0.0% | 0.0% | 0.0% | 0.0% | -47.4% | 280.8% | -31.1% | -49.2% | 198.9% | -10.2% | |
| Diluted Shares | 23.3% | 20.0% | 22.1% | 19.2% | 320.6% | 90.2% | -27.9% | 641.5% | 252.4% | 28.6% |
Valuation
P/E (TTM)At Loss
P/S0.00
10Y Low / Med / High3.17 / 333.10 / 1237.65
P/B2.51
10Y Low / Med / High1.58 / 3.91 / 27.85
EV/EBITDAAt Loss
EV/Revenue0.00
10Y Low / Med / High1.88 / 236.23 / 906.20
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$2.63
Tangible Book / Share
$3.80
Net Current Assets / Share
$5.05
Graham Net-Net
$3.75
Cash / Share
$3.87
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -9.64 | -6.61 | 9.64 | -1.95 | -2.65 | -1.02 | -0.29 | -2.71 | -11.14 | -13.65 | -9.73 | |
| P/S Ratio | 430.31 | 25.70 | 3.17 | 333.10 | 1237.65 | 519.41 | 75.02 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 3.91 | 8.21 | 3.34 | 3.16 | 3.65 | 13.16 | 27.85 | 1.58 | 4.35 | 3.52 | 2.51 | |
| EV/EBITDA | -21.44 | -5.87 | 16.15 | -2.90 | -3.97 | -1.95 | -0.20 | -1.08 | -7.90 | -8.75 | -3.03 | |
| EV/Revenue | 341.29 | 22.03 | 1.88 | 236.23 | 906.20 | 474.87 | 49.45 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
49.77
Safe
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2027 | FY2028 | FY2029 |
|---|---|---|---|
| Revenue | $21.9M | $17.8M | $131.1M |
| Net Income | -$62.7M | -$68.9M | -$62.9M |
| EPS | $-1.24 | $-1.49 | $-1.35 |
| # Analysts (EPS) | 6 | 2 | 3 |
Dividends
Frequency
Irregular
Recent Payments
| Ex-Date | Pay Date | Amount | Frequency |
|---|---|---|---|
| Jun 1, 2018 | Jun 8, 2018 | $0.00 | Irregular |
Revenue Segments
By Product
| Segment | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Grant | $5.0K | — | — | — |
| License | — | $59.0K | $73.0K | $75.0K |
| Royalty | — | — | — | — |
| Service | — | — | — | — |
By Geography
| Segment | 2018 | 2019 |
|---|---|---|
| AUSTRALIA | $378.0K | $14.6M |