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THORNE HEALTHTECH INC (THRN) Stock Fundamental Analysis

NASDAQ:THRN - Nasdaq - US8852601090 - Common Stock - Currency: USD

10.19  -0.01 (-0.1%)

After market: 10.17 -0.02 (-0.2%)

Fundamental Rating

5

Overall THRN gets a fundamental rating of 5 out of 10. We evaluated THRN against 35 industry peers in the Personal Care Products industry. Both the profitability and the financial health of THRN get a neutral evaluation. Nothing too spectacular is happening here. THRN is growing strongly while it is still valued neutral. This is a good combination!


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year THRN was profitable.
THRN had a positive operating cash flow in the past year.
THRN Yearly Net Income VS EBIT VS OCF VS FCFTHRN Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2019 2020 2021 2022 0 10M -10M -20M

1.2 Ratios

With a decent Return On Assets value of 7.20%, THRN is doing good in the industry, outperforming 75.00% of the companies in the same industry.
THRN has a Return On Equity of 13.21%. This is in the better half of the industry: THRN outperforms 75.00% of its industry peers.
THRN's Return On Invested Capital of 4.69% is in line compared to the rest of the industry. THRN outperforms 55.00% of its industry peers.
The Average Return On Invested Capital over the past 3 years for THRN is significantly below the industry average of 15.14%.
The 3 year average ROIC (2.99%) for THRN is below the current ROIC(4.69%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 7.2%
ROE 13.21%
ROIC 4.69%
ROA(3y)2.02%
ROA(5y)N/A
ROE(3y)2.55%
ROE(5y)N/A
ROIC(3y)2.99%
ROIC(5y)N/A
THRN Yearly ROA, ROE, ROICTHRN Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2019 2020 2021 2022 0 -20 -40 -60

1.3 Margins

THRN has a Profit Margin of 7.94%. This is in the better half of the industry: THRN outperforms 70.00% of its industry peers.
THRN's Operating Margin of 5.26% is in line compared to the rest of the industry. THRN outperforms 55.00% of its industry peers.
THRN has a Gross Margin of 50.15%. This is comparable to the rest of the industry: THRN outperforms 47.50% of its industry peers.
THRN's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 5.26%
PM (TTM) 7.94%
GM 50.15%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y4.81%
GM growth 5YN/A
THRN Yearly Profit, Operating, Gross MarginsTHRN Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 0 20 -20 40

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4

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), THRN is destroying value.
The number of shares outstanding for THRN has been increased compared to 1 year ago.
Compared to 1 year ago, THRN has a worse debt to assets ratio.
THRN Yearly Shares OutstandingTHRN Yearly Shares OutstandingYearly Shares Outstanding 2019 2020 2021 2022 10M 20M 30M 40M 50M
THRN Yearly Total Debt VS Total AssetsTHRN Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2019 2020 2021 2022 50M 100M 150M 200M

2.2 Solvency

THRN has an Altman-Z score of 3.41. This indicates that THRN is financially healthy and has little risk of bankruptcy at the moment.
With a decent Altman-Z score value of 3.41, THRN is doing good in the industry, outperforming 67.50% of the companies in the same industry.
A Debt/Equity ratio of 0.17 indicates that THRN is not too dependend on debt financing.
THRN's Debt to Equity ratio of 0.17 is in line compared to the rest of the industry. THRN outperforms 57.50% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF N/A
Altman-Z 3.41
ROIC/WACC0.5
WACC9.44%
THRN Yearly LT Debt VS Equity VS FCFTHRN Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2019 2020 2021 2022 0 50M 100M

2.3 Liquidity

THRN has a Current Ratio of 2.41. This indicates that THRN is financially healthy and has no problem in meeting its short term obligations.
THRN has a better Current ratio (2.41) than 70.00% of its industry peers.
THRN has a Quick Ratio of 1.13. This is a normal value and indicates that THRN is financially healthy and should not expect problems in meeting its short term obligations.
THRN has a Quick ratio (1.13) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 2.41
Quick Ratio 1.13
THRN Yearly Current Assets VS Current LiabilitesTHRN Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 20M 40M 60M 80M 100M

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8

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 660.00% over the past year.
THRN shows a strong growth in Revenue. In the last year, the Revenue has grown by 23.25%.
The Revenue has been growing by 30.66% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)660%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%172.73%
Revenue 1Y (TTM)23.25%
Revenue growth 3Y30.66%
Revenue growth 5YN/A
Sales Q2Q%29.69%

3.2 Future

Based on estimates for the next years, THRN will show a very strong growth in Earnings Per Share. The EPS will grow by 55.06% on average per year.
The Revenue is expected to grow by 21.84% on average over the next years. This is a very strong growth
EPS Next Y14.31%
EPS Next 2Y46.48%
EPS Next 3Y55.06%
EPS Next 5YN/A
Revenue Next Year23.62%
Revenue Next 2Y24.38%
Revenue Next 3Y21.84%
Revenue Next 5YN/A

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
THRN Yearly Revenue VS EstimatesTHRN Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
THRN Yearly EPS VS EstimatesTHRN Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

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4

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 26.82 indicates a quite expensive valuation of THRN.
Based on the Price/Earnings ratio, THRN is valued a bit cheaper than the industry average as 65.00% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 27.19. THRN is around the same levels.
Based on the Price/Forward Earnings ratio of 16.38, the valuation of THRN can be described as correct.
THRN's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. THRN is cheaper than 77.50% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 35.33. THRN is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 26.82
Fwd PE 16.38
THRN Price Earnings VS Forward Price EarningsTHRN Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of THRN is on the same level as its industry peers.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 28.54
THRN Per share dataTHRN EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
A more expensive valuation may be justified as THRN's earnings are expected to grow with 55.06% in the coming years.
PEG (NY)1.87
PEG (5Y)N/A
EPS Next 2Y46.48%
EPS Next 3Y55.06%

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0

5. Dividend

5.1 Amount

No dividends for THRN!.
Industry RankSector Rank
Dividend Yield N/A

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THORNE HEALTHTECH INC

NASDAQ:THRN (10/13/2023, 8:22:18 PM)

After market: 10.17 -0.02 (-0.2%)

10.19

-0.01 (-0.1%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupHousehold & Personal Products
GICS IndustryPersonal Care Products
Earnings (Last)08-08 2023-08-08/amc
Earnings (Next)11-09 2023-11-09/amc
Inst Owners0.03%
Inst Owner Change0%
Ins Owners10.68%
Ins Owner Change0%
Market Cap550.67M
Analysts80
Price Target8.61 (-15.51%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-40.77%
Min EPS beat(2)-112.25%
Max EPS beat(2)30.72%
EPS beat(4)2
Avg EPS beat(4)-25.45%
Min EPS beat(4)-112.25%
Max EPS beat(4)30.72%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)0.37%
Min Revenue beat(2)-3.4%
Max Revenue beat(2)4.13%
Revenue beat(4)1
Avg Revenue beat(4)-4.4%
Min Revenue beat(4)-9.72%
Max Revenue beat(4)4.13%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)1.28%
PT rev (3m)20.57%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)5.69%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.7%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.81%
Valuation
Industry RankSector Rank
PE 26.82
Fwd PE 16.38
P/S 2.15
P/FCF N/A
P/OCF 25.59
P/B 3.58
P/tB 4.63
EV/EBITDA 28.54
EPS(TTM)0.38
EY3.73%
EPS(NY)0.62
Fwd EY6.11%
FCF(TTM)-0.28
FCFYN/A
OCF(TTM)0.4
OCFY3.91%
SpS4.74
BVpS2.85
TBVpS2.2
PEG (NY)1.87
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 7.2%
ROE 13.21%
ROCE 5.95%
ROIC 4.69%
ROICexc 5.07%
ROICexgc 6.08%
OM 5.26%
PM (TTM) 7.94%
GM 50.15%
FCFM N/A
ROA(3y)2.02%
ROA(5y)N/A
ROE(3y)2.55%
ROE(5y)N/A
ROIC(3y)2.99%
ROIC(5y)N/A
ROICexc(3y)4.22%
ROICexc(5y)N/A
ROICexgc(3y)5.36%
ROICexgc(5y)N/A
ROCE(3y)3.82%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y4.81%
GM growth 5YN/A
F-Score5
Asset Turnover0.91
Health
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF N/A
Debt/EBITDA 1.31
Cap/Depr 590.87%
Cap/Sales 14.33%
Interest Coverage 19.78
Cash Conversion 109.39%
Profit Quality N/A
Current Ratio 2.41
Quick Ratio 1.13
Altman-Z 3.41
F-Score5
WACC9.44%
ROIC/WACC0.5
Cap/Depr(3y)158.15%
Cap/Depr(5y)N/A
Cap/Sales(3y)4.08%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)660%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%172.73%
EPS Next Y14.31%
EPS Next 2Y46.48%
EPS Next 3Y55.06%
EPS Next 5YN/A
Revenue 1Y (TTM)23.25%
Revenue growth 3Y30.66%
Revenue growth 5YN/A
Sales Q2Q%29.69%
Revenue Next Year23.62%
Revenue Next 2Y24.38%
Revenue Next 3Y21.84%
Revenue Next 5YN/A
EBIT growth 1Y1143.38%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year248.89%
EBIT Next 3Y103.9%
EBIT Next 5YN/A
FCF growth 1Y-266.26%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y78.29%
OCF growth 3YN/A
OCF growth 5YN/A