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Meridian Bioscience Financial Ratios 2022-2007 | VIVO
Brief overview of Meridian Bioscience's multiples and efficiency
Ratios are assessed across five available annual reports in the 2018–2022 interval.
The valuation comparison uses P/E 32.61x (median 17.34x), EV/EBITDA 18.38x (median 11.44x), P/S 4.16x (median 3.16x). Valuation is 37.3% above five-year reference levels. The premium requires support from earnings and returns.
Earnings yield calculated as 1/P/E is about 3.1%, showing current profit per unit of share price.
Capital efficiency is characterized by ROE 11.5%, ROA 9.2%, ROCE 13.4%. Return ratios are at workable levels. The business generates positive returns, though efficiency is not exceptional.
On PEG (2.18x), valuation is stretched relative to growth and requires strong execution.
The time from paying for inputs to receiving cash fell from 371.5 days to 200.6 days. Cash turnover improved.
Conclusion
Meridian Bioscience demonstrates high business quality but trades at a premium to its own history. Strong future results are needed to preserve valuation.
Annual Financial Ratios Meridian Bioscience
| 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
P/E |
32.6 | 12.4 | 17.3 | 17.1 | 89.4 | 89.3 | 108.5 | 84.5 | 72.6 | 119.4 | 76.7 | 87.4 | - | - | - | - |
P/S |
4.2 | 2.8 | 3.2 | 2.1 | 14.1 | 10.8 | 14.6 | 3.9 | 3.0 | 4.7 | 3.7 | 3.6 | - | - | - | - |
EPS |
1.0 | 1.6 | 1.1 | 0.6 | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.8 | - |
EV (Enterprise Value) |
1.3 B | 833 M | 747 M | 488 M | 741 M | 586 M | 719 M | 719 M | 546 M | 864 M | 637 M | 568 M | -37.9 M | -54 M | -49.3 M | -49.4 M |
EBITDA per Share |
1.63 | 2.5 | 1.75 | 1 | 0.95 | 1.1 | 1.41 | 1.5 | 1.44 | 1.56 | 1.36 | 1.13 | 1.13 | 1.32 | 1.18 | - |
EV/EBITDA |
18.4 | 7.7 | 10.0 | 11.4 | 18.4 | 12.6 | 12.2 | 11.5 | 9.2 | 13.4 | 11.4 | 12.4 | -0.8 | -1.0 | -1.0 | - |
PEG |
2.18 | 0.71 | 2.24 | -2.65 | -9.9 | -26.58 | 21.25 | 13.4 | 27.97 | 18.34 | 0.84 | 35.08 | - | - | - | - |
P/B |
3.0 | 2.0 | 2.0 | 2.2 | 4.1 | 3.3 | 4.1 | 4.5 | 3.6 | 5.7 | 4.6 | 4.1 | - | - | - | - |
P/CF |
16.8 | 13.2 | 16.7 | 11.5 | 20.8 | 13.6 | 18.3 | 18.3 | 20.7 | 19.9 | 15.3 | 25.6 | - | - | - | - |
ROE % |
11.54 | 21.75 | 18.65 | 12.77 | 4.62 | 3.72 | 3.77 | 5.36 | 4.91 | 4.79 | 5.94 | 4.75 | 4.39 | 6.47 | 23.51 | - |
ROA % |
9.17 | 15.88 | 11.40 | 7.49 | 3.22 | 2.52 | 2.49 | 4.85 | 4.47 | 4.20 | 5.25 | 4.23 | 3.90 | 5.72 | - | - |
ROCE % |
13.43 | 23.11 | 17.39 | 10.74 | 13.90 | 16.48 | 22.39 | 33.36 | 32.10 | 36.48 | 34.49 | 28.55 | 29.95 | 35.37 | 34.52 | - |
Current Ratio |
- | - | - | 2.4 | 3.3 | 3.1 | 3.0 | 10.5 | 11.1 | 8.1 | 8.7 | 9.2 | - | - | - | - |
DSO |
55.2 | 52.9 | 54.1 | 62.7 | 217.8 | 196.2 | 208.0 | 46.4 | 47.8 | 48.7 | 51.6 | 53.6 | - | - | - | - |
DIO |
182.5 | 215.9 | 189.0 | 181.0 | 184.6 | 206.5 | 214.3 | 179.2 | 181.0 | 188.0 | 181.6 | 197.5 | - | - | - | - |
DPO |
37.2 | 37.0 | 36.0 | 29.9 | 30.9 | 36.6 | 37.8 | 33.3 | 25.3 | 30.2 | 33.2 | 33.5 | - | - | - | - |
Operating Cycle |
237.7 | 268.8 | 243.1 | 243.7 | 402.4 | 402.7 | 422.3 | 225.6 | 228.7 | 236.7 | 233.2 | 251.1 | - | - | - | - |
Cash Conversion Cycle |
200.6 | 231.8 | 207.1 | 213.7 | 371.5 | 366.1 | 384.5 | 192.3 | 203.4 | 206.5 | 200.0 | 217.5 | - | - | - | - |
All numbers in USD currency
Quarterly Financial Ratios Meridian Bioscience
| 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPS |
-0.68 | -0.68 | -0.17 | 0.66 | 0.35 | 0.35 | 0.27 | 0.61 | 0.62 | 0.62 | 0.64 | 0.22 | 0.07 | 0.07 | 0.12 | 0.17 | 0.19 | 0.19 | 0.16 | 0.12 | 0.15 | 0.15 | 0.01 | 0.22 | 0.15 | 0.15 | 0.21 | 0.22 | 0.21 | 0.21 | 0.22 | 0.24 | 0.19 | 0.19 | 0.21 | 0.25 | 0.18 | 0.18 | 0.25 | 0.25 | 0.21 | 0.21 | 0.21 | 0.23 | 0.16 | 0.16 | 0.17 | 0.18 | 0.15 | 0.16 |
EBITDA per Share |
-0.6 | -0.6 | -0.04 | 0.91 | 0.51 | 0.51 | 0.47 | 0.86 | 0.84 | 0.84 | 0.9 | 0.33 | 0.15 | 0.15 | 0.25 | 0.29 | 0.28 | 0.28 | 0.28 | 0.23 | 0.22 | 0.22 | 0.18 | 0.39 | 0.26 | 0.26 | 0.39 | 0.4 | 0.35 | 0.35 | 0.41 | 0.42 | 0.33 | 0.33 | 0.38 | 0.42 | 0.3 | 0.3 | 0.44 | 0.41 | 0.34 | 0.34 | 0.37 | 0.4 | 0.26 | 0.26 | 0.31 | 0.31 | 0.24 | 0.3 |
ROE % |
-11.85 | 1.35 | 14.55 | 20.18 | 21.01 | 26.17 | 31.33 | 39.49 | 35.57 | 27.40 | 19.23 | 10.14 | 9.46 | 12.57 | 15.67 | 16.88 | 16.01 | 15.11 | 14.22 | 10.47 | 12.89 | 13.03 | 13.17 | 18.21 | 18.11 | 19.60 | 21.09 | 21.46 | 22.35 | 21.99 | 21.63 | 21.53 | 21.71 | 21.51 | 21.32 | 22.58 | 23.06 | 24.47 | 25.88 | 25.26 | 25.19 | 23.84 | 22.49 | 21.34 | 19.78 | 19.42 | 19.31 | 5.28 | 4.41 | 4.68 |
ROA % |
-8.54 | 1.33 | 11.21 | 15.40 | 15.29 | 18.26 | 21.24 | 25.18 | 22.12 | 16.64 | 11.16 | 6.18 | 6.04 | 8.45 | 10.86 | 11.97 | 11.25 | 10.51 | 9.77 | 7.18 | 8.80 | 8.81 | 8.82 | 12.15 | 11.97 | 14.23 | 16.49 | 18.13 | 20.26 | 19.95 | 19.63 | 19.50 | 19.63 | 19.42 | 19.22 | 20.22 | 20.61 | 21.75 | 22.89 | 22.36 | 22.27 | 21.12 | 19.97 | 18.89 | 17.42 | 17.04 | 17.11 | 4.62 | 3.86 | 4.30 |
ROCE % |
-7.81 | 4.58 | 16.98 | 22.45 | 22.55 | 26.95 | 31.35 | 36.74 | 32.14 | 24.55 | 16.96 | 9.89 | 9.97 | 12.80 | 15.62 | 17.29 | 16.37 | 15.29 | 14.22 | 12.32 | 15.08 | 15.96 | 16.83 | 20.78 | 21.05 | 24.61 | 28.16 | 30.98 | 34.24 | 34.06 | 33.87 | 33.21 | 33.20 | 32.71 | 32.32 | 34.55 | 35.19 | 37.37 | 39.45 | 38.16 | 38.41 | 36.06 | 33.72 | 32.11 | 29.54 | 29.08 | 29.07 | 7.97 | 6.66 | 7.12 |
DSO |
66.7 | 69.3 | 70.1 | 42.5 | 45.8 | 44.7 | 62.6 | 45.9 | 40.2 | 40.9 | 44.4 | 60.1 | 68.0 | 64.8 | 61.2 | 58.9 | 56.4 | 53.8 | 55.2 | 58.1 | 52.0 | 52.2 | 50.2 | 46.6 | 40.9 | 54.2 | 61.9 | 54.1 | 53.8 | 53.8 | 56.5 | 51.0 | 45.7 | 47.0 | 51.4 | 47.6 | 42.8 | 48.6 | 45.6 | 46.0 | 48.5 | 48.4 | 54.6 | 56.4 | 48.3 | 54.7 | 54.5 | 52.0 | 43.9 | - |
DIO |
261.1 | 256.5 | 207.3 | 154.9 | 172.8 | 170.0 | 249.5 | 232.0 | 195.6 | 185.8 | 159.9 | 167.4 | 195.6 | 198.8 | 190.3 | 180.6 | 192.0 | 199.5 | 205.2 | 201.7 | 200.1 | 190.3 | 66.2 | 209.2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
DPO |
51.8 | 53.5 | 45.6 | 34.1 | 37.9 | 34.2 | 51.5 | 53.2 | 44.6 | 42.0 | 33.7 | 31.6 | 36.2 | 37.6 | 36.7 | 30.7 | 28.6 | 31.1 | 34.4 | 37.1 | 39.0 | 32.4 | 9.8 | 33.5 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Cycle |
- | 323.6 | - | - | 197.3 | 226.4 | - | 325.8 | 289.7 | 225.9 | 133.2 | 235.4 | 187.7 | 259.6 | 124.1 | 246.2 | 251.0 | 249.1 | 117.4 | 250.8 | 248.4 | 245.0 | 119.4 | 252.3 | 45.0 | 50.1 | 52.6 | 48.8 | 53.3 | 52.1 | 50.9 | 49.7 | 48.2 | 44.5 | 45.4 | 44.9 | 43.5 | 49.6 | 48.8 | 50.7 | 50.9 | 48.3 | 50.8 | 52.6 | 48.5 | 55.6 | 54.8 | 56.6 | - | - |
Cash Conversion Cycle |
- | 265.8 | - | - | 163.2 | 193.8 | - | 282.9 | 244.8 | 186.2 | 117.8 | 197.6 | 158.7 | 224.5 | 113.3 | 213.5 | 220.2 | 220.4 | 108.2 | 221.9 | 214.5 | 208.5 | 107.1 | 215.2 | 45.0 | 50.1 | 52.6 | 48.8 | 53.3 | 52.1 | 50.9 | 49.7 | 48.2 | 44.5 | 45.4 | 44.9 | 43.5 | 49.6 | 48.8 | 50.7 | 50.9 | 48.3 | 50.8 | 52.6 | 48.5 | 55.6 | 54.8 | 56.6 | - | - |
All numbers in USD currency
Multiples are an important financial analysis tool for the company Meridian Bioscience, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.
Advantages of Using Financial Ratios- Simplified Data Analysis
Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition. - Comparability Between Companies
Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations. - Identification of Trends and Issues
Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks. - Decision Support
Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions. - Accelerated Assessment of Investment Attractiveness
Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.
Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.
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