Analysis of the Financial Performance of COVID-19 Vaccine Developing Pharmaceutical Companies

Gönci Márta (2023) Analysis of the Financial Performance of COVID-19 Vaccine Developing Pharmaceutical Companies. Pénzügyi és Számviteli Kar.

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Absztrakt (kivonat)

The aims of this thesis – entitled as Analysis of The Financial Performance of COVID-19 Vaccine Developing Pharmaceutical Companies – were to assess and calculate financial ratios and analyse financial ratio trends in the interest of drawing conclusions concerning the financial performance of the four selected pharmaceutical companies to ascertain whether they could benefit from the crisis triggered by the COVID-19 pandemic for the period of 2019-2021. Another objective of the study was to compare the financial performance of the companies in pursuance of detecting how the firms performed as well as examine and define their position relative to the each other. An additional aim of the paper was to analyse the stock price trends of the selected companies within the appointed period in order to study the changes of investor behaviour during the pandemic situation. To conduct the study, the selected companies were AstraZeneca Plc, BioNTech SE, Johnson & Johnson and Pfizer Inc. The performance of the firms was investigated for the period of 2019-2021, based on primary and secondary data such as public financial statements, annual reports, official records, online databases and studies available on the internet. The collected data was analysed with the utilization of financial ratios as statistical tools. In the first part of the thesis the theoretical background of the analysis was covered. It was crucial to epitomise the role of pharmaceutical industry during the COVID-19 era and briefly introduce the selected companies in favour of having a better understand on the results of the analysis. In this section the term financial analysis and the different types of financial ratios (liquidity, activity, solvency and profitability ratios) were also detailed in order to understand the logic behind the calculated ratios. Moreover, to gain knowledge on stock price trend related analysis, for instance the term stock price, stock exchange, technical analysis and chart patterns were also clarified in this section. As for the second part of the paper, the results of the calculations were interpreted for each company with the utilization of theoretical knowledge on the companies’ descriptions, the ratios described in the first section, the financial data retrieved from the sources previously mentioned as well as annual reports and other official records of the firms which contain detailed information on the transactions happened during the investigated period. As a result of this, generally, it is statable that all companies managed to improve their financial status except for AstraZeneca Plc which showed a slight regression during the examined period of time. The largest advancement was consummated by BioNTech SE, while Johnson & Johnson’s and Pfizer Inc.’s results demonstrated stable growth during the COVID-19 pandemic. In the last part of the study a couple of ratios were used to compare the firms’ results on the calculations and were presented via charts. The exact ratios implemented for the comparison were days sales outstanding (DSO), inventory turnover, receivable turnover, fixed asset turnover and the profitability ratios (return on equity, return on assets, return on capital employed, return on investment, gross margin, operating margin and net profit margin) and also the average of the firms’ results with the intention of revealing the financial position of the companies within the selected group. The result of the comparison part confirmed that BioNTech, which performed way below average at the beginning of the period, has showed significant increase in the ratios by the end of the examined period. AstraZeneca, Johnson & Johnson and Pfizer had quite similar trends, even though AstraZeneca’s results demonstrated small retrogression by the end of the investigated period relative to the other selected companies. All in all, the pandemic had plenty of negative and positive effects on the pharmaceutical industry, though according to the analysis, the companies have managed to make decent amount of money and could benefit from the crisis triggered by the COVID-19 virus (except for AstraZeneca). It is important to mention that funds received by the companies had huge impact on the results, as the vaccines had to be developed, manufactured and distributed within a short period of time, which resulted in high turnovers and relatively quick profit growth in case of the selected pharmaceutical firms.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Pénzügyi és Számviteli Kar

Tanszék

Pénzügy Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Pénzügy és Számvitel

Konzulens(ek)

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	befektetői magatartás, elemzési módszerek, gyógyszeripar, pénzügyi analízis, pénzügyi mutatóelemzés
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2023. Ápr. 20. 14:52
Utolsó módosítás:	2023. Ápr. 20. 14:52

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