BHVNBiohaven Ltd.
Pharmaceutical Preparations
- Revenue
- —
- Operating margin
- —
- EBITDA
- −$735M
- 16% YoY
- Market cap
- $2.3B
- Employees
- 15,000
- Net debt / EBITDA
- —
- AI in 10-K
- 0.0
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentNo95% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.0 per 10K words · 0th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$2.3B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$33M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Operating income | −$219M | −$568M | −$436M | −$885M | −$745M | 16% |
| Net income | −$214M | −$570M | −$408M | −$846M | −$739M | 13% |
| Operating cash flow | −$146M | −$298M | −$332M | −$582M | −$609M | 4.6% |
| Capex | $938K | $6M | $3M | $4M | $715K | 82% |
| Stock-based comp | $66M | $194M | $29M | $72M | $112M | 56% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $33M · 5
- Open-market sells, 12 mo
- $0 · 0
- Net
- $33M
Pay vs performance
No pay-versus-performance disclosure yet.