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Essay / Research Paper Abstract
This 15 page paper is a financial analysis of the biotechnology company Genentech DNA. The paper starts by looking at a ratio analysis comparing the company with Biogen IDEC and the rest of the industry. The paper then looks at the share price movement, the free cash flow and uses the discounted cash flow to consider the value of the current share prices. The bibliography cites 7 sources.
Page Count:
15 pages (~225 words per page)
File: TS14_TEgenentech.rtf
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Unformatted sample text from the term paper:
we look at a company such as Genentech DNA then we can look at the financial ratios and their patterns against each other and over time, as well as comparing
this to another company in the same industry as a comparison, here we will use Biogen IDEC. All figures are taken from the relevant annual accounts. We will start
with the ratio analysis looking at Genentech and comparing this is Biogen. Whilst looking at this it is worth remembering that this industry is one which is more volatile than
most. The first ratio we will consider is that of the gross profit. When looking at the make up of this it is worth noting the revenue has increase
and over the three year period there is a 69% increase in the revenue, so there is a very clear upward growth trend. However it is the profits that will
interest the shareholders. The gross margin is expressed as a percentage. This is the level of revenue that remains when all of
the direct costs for producing the goods or services are deducted form the revenue. This indicates the level at which direct costs account take up revenue. For Genentech we get
the following Gross profit 2002 2003 2004 Revenue (a) 2,719.3 3,300.3 4,621.2 Cost of goods sold (b) 441.6 480.1 672.5 Gross profit (c) (a-b) 2,277.7 2,820.2 3,948.7 Gross profit margin
(%) (c/a x 100) 83.76% 85.45% 85.45% This is relativity stable, and if we compare to Biogen there is a different picture. Biogen shows a much larger increase in revenue,
over the period, there is a 447% increase. However, the returns when measures as gross profit are more volatile, but this may be expected with the higher growth level.
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