NBY  Novabay Pharmaceuticals Inc.

Exchange

AMEX

Sector

Consumer Durables

Industry

Major Pharmaceuticals

Market Cap.

57.51M

Vuru Grade

31.66/100

Current Price

$3.80
-0.12 (-3.18%)

Company Metrics

  • P/E 0
  • P/S 6.28
  • P/B 8.68
  • EPS -2.44
  • Cash ROIC 921.20%
  • Cash Ratio 0.51
  • Dividend 0 / 0%
  • Avg. Vol. 21,010.00
  • Shares 2.78M
  • Market Cap. 57.51M

Company Description

NovaBay Pharmaceuticals Inc., a clinical stage biotechnology company, engages in developing proprietary and patented topical Aganocide compounds for the treatment and prevention of various infections without causing bacterial resistance. Its Aganocide compounds are synthetic anti-infective product candidates with equivalent activity to the active antimicrobial molecules generated within white bloo... more


Download 10 Years of Financial Statements:
Income Statement   Balance Sheet   Cash Flow

News

NovaBay Pharmaceuticals Inc.
MarketWatch - Jul 16, 2010
NovaBay Pharmaceuticals Inc. NYSE MKT: NBY. GO. Set Alerts · Find a Broker · Join TD Ameritrade · Market Index · Overview Profile News Charts Financials Historical Quotes Analyst Estimates Options SEC Filings Insiders.
News NovaBay Pharmaceuticals Inc.NBY
Wall Street Journal - Feb 11, 2011
News NovaBay Pharmaceuticals Inc.NBY. Significant News Only. 12/01/16; Press Release. NovaBay to Present at LD Micro Main Event.
Where Does NovaBay Pharmaceuticals, Inc. (NYSEMKT: NBY) Have Its Focus This Year?
Scibility Media - Aug 15, 2016
NovaBay Pharmaceuticals, Inc. (NYSEMKT: NBY) has set for itself many targets to hit before the end of 2016. But there is one that the management of the company has been talking about repeatedly: achieving positive cash flow.
NovaBay Pharma: An Under-Followed Turnaround Story; Transforming Eyelid ...
Seeking Alpha - Aug 9, 2016
NovaBay (NYSEMKT:NBY) is a turnaround story with rapidly growing revenues. After a change in management last year, NBY has been on a steady path towards cash flow break-even.
NovaBay Pharmaceuticals, Inc. (NBY) Now Covered by Rodman & Renshaw
BNB Daily (blog) - Feb 8, 2017
NovaBay Pharmaceuticals logo Equities research analysts at Rodman & Renshaw started coverage on shares of NovaBay Pharmaceuticals, Inc. (NYSEMKT:NBY) in a research note issued on Monday, StockTargetPrices.com reports. The firm set a “buy” ...
NovaBay Pharmaceuticals Inc. - Receive News & Ratings Daily - BBNS
NovaBay Pharmaceuticals Reports 2016 Second Quarter Financial Results
Business Wire (press release) - Aug 11, 2016
BUSINESS WIRE)--NovaBay Pharmaceuticals, Inc. (NYSE MKT: NBY), a biopharmaceutical company focusing on commercializing its prescription Avenova lid and lash hygiene product for the domestic eye care market, reports financial results for the three ...
A New Kind of Stock Chart: NovaBay Pharmaceuticals Inc (AMEX:NBY) Critical ...
CML News - Feb 22, 2017
This is a real time view of the critical technical pivot points for NovaBay Pharmaceuticals Inc (AMEX:NBY) . The technical pivot points we look at all surround the stock price movement from the last 10-trading days through the last year.
NovaBay Pharmaceuticals, Inc. (NBY) Coverage Initiated at Rodman & Renshaw
The Cerbat Gem - Feb 6, 2017
NovaBay Pharmaceuticals logo Stock analysts at Rodman & Renshaw started coverage on shares of NovaBay Pharmaceuticals, Inc. (NYSEMKT:NBY) in a note issued to investors on Monday. The firm set a “buy” rating and a $6.00 price target on the ...
NovaBay Pharmaceuticals (NBY) is Initiated by Rodman & Renshaw to “Buy” - Highland Mirror
Rodman & Renshaw disclosed NovaBay Pharmaceuticals, Inc. (NYSE:NBY), boosting ... - Breaking Finance News
NovaBay Pharmaceuticals Announces Restructuring to Focus on Avenova ...
Business Wire (press release) - Nov 19, 2015
BUSINESS WIRE)--NovaBay Pharmaceuticals, Inc. (NYSE MKT: NBY) announces a corporate restructuring to focus on the commercialization of its prescription Avenova® Lid and Lash Cleanser. NovaBay is also taking steps to reduce operating expenses ...
Rodman & Renshaw Begins Coverage on NovaBay Pharmaceuticals, Inc. (NBY)
Sports Perspectives - Feb 9, 2017
NovaBay Pharmaceuticals, Inc. logo Rodman & Renshaw began coverage on shares of NovaBay Pharmaceuticals, Inc. (NYSEMKT:NBY) in a research report sent to investors on Monday, StockTargetPrices.com reports. The brokerage issued a buy rating and ...
Growth Rate Assumed by Market

We did a reverse valuation to calculate the growth rate the market is assuming for NBY to be considered fairly valued at its current market price. It's useful to compare this to the growth rate we're assuming for the Growth Price.

Future Free Cash Flow Growth Rate

This is the annual growth rate we've applied to calculate NBY's Free Cash Flow for the next 10 years. To calculate it, we looked at several time periods of the last 10 years. Feel free to adjust it, but we limit the initial growth rate to 20% and slow it down over the years. Otherwise, long-term sustainability issues come into play.

Discount Rate

The discount rate is the annual rate of return an investor requires to take the risk of investing in a single stock. To account for that risk, this should be above 8-10%, as this is the avg. annual rate of return for the S&P500 over the past 100 years.

$3.80 Current Price

$-45.02 Growth Price (DCF)

Why is this negative?


Show Free Cash Flow numbers

$-7.89 Book Price

Overvalued by 307.57%


Varying Cash Return on Invested Capital over the past 5 years

NBY has efficiently invested its financial resources in buildings, projects, and equipment, resulting in strong returns. However, there is a substantial variation in their Cash ROIC from year-to-year. This company may have unreliable free cash flow or operates in a business where invested capital costs increase substantially on a sporadic basis. Look at reasons for this inconsistency to determine the likelihood of future sustainability.

NBY has created $921.20 of cash for every $100 invested.
Figures in USD. Fiscal year ends in December
20112012201320142015
Free Cash Flow -3.26M -6.68M -13.11M -15.12M -18.68M
divided by
Invested Capital -1.01M -808,000.00 -1.03M -1.24M -1.94M
Cash ROIC 321.92% 826.24% 1,272.82% 1,222.55% 962.49%

Very Poor Return on Equity over the past 5 years

NBY has shown an inability to deliver results for shareholders. This could be due to poor management, NBY operating in a highly competitive industry, or having a weak business in general.

NBY has generated a $223.00 loss for every $100 of Shareholders' Equity.
Figures in USD. Fiscal year ends in December
20112012201320142015
Net Income -5.09M -7.03M -16.04M -15.19M -18.97M
divided by
Stockholders' Equity 9.34M 14.05M 8.52M 1.85M -5.10M
Return on Equity -54.42% -50.02% -188.37% -822.19% -

Poor Business Performance over the past 10 years

NBY's inability to produce positive free cash flow for the majority of the past 10 years is concerning. It should be a red flag, since this company does not have a track record of delivering results for shareholders. This could be due to poor management or the nature of its business.

NBY has been losing money for the majority of the past 10 years.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Free Cash Flow 4.38M -6.93M -10.55M -2.38M 1.83M -3.26M -6.68M -13.11M -15.12M -18.68M

Very Weak Balance Sheet

NBY is in a poor financial position. This could be due to a slowdown in sales, indulging in debt-fuelled growth, or the nature of NBY's business. If it is highly capital intensive (see Economic Moat), they likely have to outlay significant capital just to stay competitive. This habit often destroys more value than it creates.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Cash 11.09M 22.35M 12.10M 11.29M 12.81M 14.14M 16.87M 13.05M 5.43M 2.39M
Current Assets 11.31M 22.77M 12.51M 15.61M 13.75M 14.56M 18.28M 14.79M 6.95M 4.53M
Total Assets 11.87M 23.92M 13.97M 17.52M 15.52M 15.96M 19.24M 15.65M 7.54M 5.08M
Current Liabilities 3.39M 4.58M 4.48M 4.04M 2.72M 2.84M 3.17M 3.63M 3.35M 4.63M
Total Liabilities 10.05M 9.60M 6.62M 4.18M 5.03M 6.62M 5.19M 7.13M 5.69M 10.18M
Stockholder' Equity 1.81M 14.32M 7.35M 13.35M 10.49M 9.34M 14.05M 8.52M 1.85M -5.10M
Current Ratio 3.34 4.97 2.79 3.86 5.05 5.13 5.76 4.08 2.08 0.98
TL-to-TA 0.85 0.40 0.47 0.24 0.32 0.41 0.27 0.46 0.75 2.00

Low or No Reinvestment of Profits over the past 10 years

NBY has either been retaining a small amount of their earnings or has done so inconsistently. A lack of consistency could be due to NBY operating at a loss or them having such a strong economic moat they feel comfortable spending profits on growth. Be wary of future prospects and if applicable, inspect the moat's sustainability.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Retained Earnings -13.07M -18.47M -26.59M -23.89M -28.20M -33.28M -40.31M -56.35M -71.55M -90.52M
Retained Earnings Growth - -41.30% -43.92% 10.14% -18.03% -18.03% -21.11% -39.80% -26.96% -26.52%

Erratic Net Profit Margins over the past 10 years

NBY has had highly erratic net profit margins which are a great cause for concern. This company may operate in a highly volatile industry, or it may just have poor performance. Look at reasons for this inconsistency to understand if there is any reason to look past it.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Net Income -5.29M -5.40M -8.11M 2.70M -4.31M -5.09M -7.03M -16.04M -15.19M -18.97M
divided by
Revenue 1.53M 5.91M 6.72M 15.68M 9.75M 11.02M 6.95M 3.48M 1.05M 4.38M
Net Profit Margin -344.81% -91.32% -120.71% 17.20% -44.17% -46.15% -101.15% -461.37% -1,441.56% -433.07%

Varying Pricing Power over the past 10 years

NBY has maintained substantial gross margins, suggesting that they have been able to set prices without consideration of the cost of goods sold. However, there is a substantial variation in their Gross Profit Margins from year-to-year, which indicates inconsistent performance. Look at reasons for this inconsistency to determine the likelihood of future sustainability.

$83.05 of every $100 worth of sales have been Gross Profit, on average over the past 10 years.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Gross Profit 1.53M 5.91M 6.72M 15.68M 9.75M 1.11M 6.95M 3.32M 568,000.00 3.12M
divided by
Revenue 1.53M 5.91M 6.72M 15.68M 9.75M 11.02M 6.95M 3.48M 1.05M 4.38M
Gross Margin 100.00% 100.00% 100.00% 100.00% 100.00% 10.06% 100.00% 95.34% 53.89% 71.22%

Medium Capital Intensity over the past 10 years

NBY has used a reasonable amount of their financial resources to invest in facilities and equipment required to produce its goods and services. This isn't perfect, but it shouldn't be an area of concern unless this number is strongly trending upwards.

27.10% of Profits are being spent on Capital Expenditures, like Property, Plant, & Equipment, required to run the business.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Capital Expenditure 362,000.00 663,000.00 610,000.00 731,000.00 203,000.00 119,000.00 148,000.00 141,000.00 68,000.00 123,000.00
divided by
Net Income -5.29M -5.40M -8.11M 2.70M -4.31M -5.09M -7.03M -16.04M -15.19M -18.97M
Capital Expenditure Ratio -6.85% -12.28% -7.52% 27.10% -4.71% -2.34% -2.11% -0.88% -0.45% -0.65%

No Dividend History over the past 10 years

NBY has never distributed dividends or has recently suspended their dividend distribution.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Dividend Paid - - - - - - - - - -
divided by
Shares Outstanding 5.72M 8.97M 21.31M 23.12M 23.33M 25.77M 29.45M 38.18M 49.63M 2.78M
Dividend Paid Per Share - - - - - - - - - -
Price at Year End - 3.79 1.03 2.02 1.67 1.34 1.14 1.23 0.65 2.08
Dividend Yield - - - - - - - - - -

History of Stock Buybacks over the past 10 years

NBY has some history of delivering increased value for shareholders in the form of stock buybacks. These have helped improve financial metrics and increase each shareholders' relative ownership stake in the company, due to fewer shares outstanding and holding the same number of shares.
Figures in USD. Fiscal year ends in December
2006200720082009201020112012201320142015
Shares Outstanding 5.72M 8.97M 21.31M 23.12M 23.33M 25.77M 29.45M 38.18M 49.63M 2.78M
Stock Bought Back - -36.32% -57.89% -7.80% -0.90% -9.49% -12.48% -22.88% -23.06% 1,682.54%
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