Annexon, Inc.

ANNX

ANNXAnnexon, Inc. US flag

NASDAQ Global Select

5.39

USD

+0.13

- -

644.62MMarket Cap

Profitability (USD)

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	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-75.85	-31.25	-40.54	-49.62	-46.07	-42.67	-65.86
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Profit Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Net Income to Common Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

API Chat

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	- -	- -	35	33	31	29	26
ST Debt	- -	- -	- -	1	1	2	3	3
LT Debt	- -	- -	- -	33	32	29	26	23
Total Debt/EBITDA	- -	- -	- -	-0.27	-0.23	-0.22	-0.19	-0.12
Net Debt/EBITDA	2.37	1.37	4.28	0.58	0.98	1.59	0.33	0.76
Total Debt/EBIT	- -	- -	- -	-0.26	-0.23	-0.22	-0.19	-0.12
Net Debt/EBIT	2.31	1.35	4.23	0.57	0.96	1.57	0.32	0.75
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-135.81	-205.57	-46.62	-103.22	-153.71	-192.3	-202.98	-330.45
Long-Term Debt/Equity (%)	- -	- -	- -	14.4	13.64	11.65	9.03	11.01
Long-Term Debt/Capital (%)	- -	- -	- -	-12.76	-7.78	-5.39	-3.88	-2.61
Long-Term Debt/Total Assets (%)	- -	- -	- -	11.63	11.06	9.81	7.56	8.39
Total Debt/Equity (%)	- -	- -	- -	14.91	14.21	12.51	9.88	12.38
Total Debt/Capital (%)	- -	- -	- -	-13.22	-8.11	-5.8	-4.25	-2.94
Total Debt/Total Assets (%)	- -	- -	- -	12.05	11.53	10.53	8.28	9.44
Net Debt to Equity	-116.62	-100.92	-78.01	-32.27	-60.56	-89.84	-16.89	-76.57
Net Debt/Capital (%)	590.1	1,741.22	61.81	22.24	25.67	29.38	6.77	15.39
EBITDA	-19	-32	-63	-129	-143	-142	-152	-214
EBITDA-CapEx	-19	-32	-63	-130	-150	-142	-152	-214
Operating Income (Loss)	-19	-33	-63	-131	-146	-144	-154	-216

Liquidity (USD)

API Chat

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	13.28	8.91	33.06	11.16	10.85	14.49	10.23	5.59
Current Ratio	13.74	9.21	33.33	11.39	11.1	14.72	10.37	5.68
Quick Ratio	13.35	8.93	33.06	11.16	10.85	14.49	10.23	5.59
CFO/Avg Current Liab	- -	-6.87	-6.83	-6.56	-5.27	-6.01	-4.87	-5.1
Common Equity/Total Assets	-135.81	-205.57	-46.62	-103.22	-153.71	-192.3	-202.98	-330.45
Long-Term Debt/Equity (%)	- -	- -	- -	14.4	13.64	11.65	9.03	11.01
Long-Term Debt/Capital (%)	- -	- -	- -	-12.76	-7.78	-5.39	-3.88	-2.61
Long-Term Debt/Total Assets (%)	- -	- -	- -	11.63	11.06	9.81	7.56	8.39
Total Debt/Equity (%)	- -	- -	- -	14.91	14.21	12.51	9.88	12.38
Total Debt/Capital (%)	- -	- -	- -	-13.22	-8.11	-5.8	-4.25	-2.94
Total Debt/Total Assets (%)	- -	- -	- -	12.05	11.53	10.53	8.28	9.44
CFO/Total Liabilities	-167.4	-445.32	-454.98	-192.47	-215.78	-257.1	-207.15	-282.69
CFO/CapEx	-1,011.18	-106.21	-114.41	-64.15	-17.82	-627.68	-7,867.07	-1,360.26
Altman's Z-Score	-2.16	-4.06	21.75	2.79	0.26	1.08	4.11	-6.34

Working Capital (USD)

API Chat

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API Chat

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	425	440	283	344	705	- -
- Cash & Cash Equivalents	44	44	269	75	140	225	49	162
+ Preferred Equity and Hybrid Capital	102	144	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	35	33	31	29	26
Enterprise Value	58	100	73	232	73	115	422	-212
Total Capital	37	41	-166	-262	-405	-541	-682	-891
Total Debt/Capital (%)	- -	- -	- -	-13.22	-8.11	-5.8	-4.25	-2.94
Total Debt / EV	- -	- -	- -	0.15	0.45	0.27	0.07	-0.12
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	425	440	283	344	705	- -
Diluted Enterprise Value	58	100	156	400	176	150	684	-136
EV per Share	5.06	7.63	4.33	6.06	1.33	1.52	3.07	- -
TTM Sales	- -	- -	- -	- -	- -	- -	- -	- -
TTM EBITDA	-19	-32	-63	-129	-143	-142	-152	-214
TTM Operating Income	-19	-33	-63	-131	-146	-144	-154	-216
TTM Cash Flow to Firm	-17	-28	-53	-106	-116	-121	-118	-186
TTM Free Cash Flow to Firm	-17	-28	-53	-104	-110	-121	-118	-186

Multiples (USD)

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	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	-8.07	-4.21	-2.57	-2.84	-5.97	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	58	100	73	232	73	115	422	-212
Low Price	- -	- -	15.33	11.34	2.06	1.57	3.86	1.29
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	-6.62	-6.31	-1.94	-2.16	-5.59	- -
Price/Earnings High	- -	- -	-8.54	-11.18	-4.6	-4.31	-8.35	- -
Price/Earnings Low	- -	- -	-4.1	-3.33	-0.79	-0.89	-3.84	- -
Price/Book Value	- -	- -	-2.56	-1.49	-0.65	-0.6	-0.99	- -
Price/Book Value Average	- -	- -	-2.53	-2.77	-0.63	-0.51	-1.09	- -
Price/Book Value High	- -	- -	-3.26	-4.92	-1.49	-1.01	-1.62	- -
Price/Book Value Low	- -	- -	-1.57	-1.47	-0.26	-0.21	-0.75	- -
Price/Tangible Book Value	- -	- -	1.23	1.9	1.22	1.37	2.4	- -
Price/Tangible Book Value Average	- -	- -	1.22	3.54	1.19	1.16	2.63	- -
Price/Tangible Book Value High	- -	- -	1.57	6.28	2.83	2.31	3.94	- -
Price/Tangible Book Value Low	- -	- -	0.76	1.87	0.49	0.47	1.81	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	-8	-4.15	-2.43	-2.84	-5.97	- -
Price/Cash Flow Average	- -	- -	-7.91	-7.75	-2.37	-2.4	-6.54	- -
Price/Cash Flow High	- -	- -	-10.21	-13.73	-5.62	-4.78	-9.78	- -
Price/Cash Flow Low	- -	- -	-4.9	-4.09	-0.97	-0.98	-4.49	- -
Price/Free Cash Flow Average	- -	- -	-7.98	-7.87	-2.51	-2.4	-6.54	- -
Price/Free Cash Flow High	- -	- -	-10.3	-13.94	-5.95	-4.79	-9.78	- -
Price/Free Cash Flow Low	- -	- -	-4.94	-4.16	-1.03	-0.98	-4.5	- -
EV/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales High	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Average	-3.1	-3.12	-2.41	-6.08	-1.17	-0.68	-4.95	0.63
EV/EBITDA High	-3.1	-3.12	-4.35	-11.01	-3.81	-2.72	-7.46	0.63
EV/EBITDA Low	-3.1	-3.12	0.14	-3.07	-0.04	0.53	-3.36	0.63
EV/EBIT Average	-3.02	-3.08	-2.39	-5.98	-1.15	-0.67	-4.88	0.63
EV/EBIT High	-3.02	-3.08	-4.3	-10.83	-3.75	-2.68	-7.36	0.63
EV/EBIT Low	-3.02	-3.08	0.13	-3.02	-0.04	0.52	-3.31	0.63
Last Price	- -	- -	25.03	11.49	5.17	4.54	5.13	5.02
High Price	- -	- -	31.94	38.01	11.95	7.65	8.4	5.66
Enterprise Value Average	58	100	151	782	168	96	751	-136
Enterprise Value High	58	100	273	1,416	546	385	1,134	-136
Enterprise Value Low	58	100	-9	394	5	-75	510	-136

Profitability (USD)

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	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-75.85	-31.25	-40.54	-49.62	-46.07	-42.67	-65.86
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Profit Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Net Income to Common Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

API Chat

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	- -	- -	35	33	31	29	26
ST Debt	- -	- -	- -	1	1	2	3	3
LT Debt	- -	- -	- -	33	32	29	26	23
Total Debt/EBITDA	- -	- -	- -	-0.27	-0.23	-0.22	-0.19	-0.12
Net Debt/EBITDA	2.37	1.37	4.28	0.58	0.98	1.59	0.33	0.76
Total Debt/EBIT	- -	- -	- -	-0.26	-0.23	-0.22	-0.19	-0.12
Net Debt/EBIT	2.31	1.35	4.23	0.57	0.96	1.57	0.32	0.75
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-135.81	-205.57	-46.62	-103.22	-153.71	-192.3	-202.98	-330.45
Long-Term Debt/Equity (%)	- -	- -	- -	14.4	13.64	11.65	9.03	11.01
Long-Term Debt/Capital (%)	- -	- -	- -	-12.76	-7.78	-5.39	-3.88	-2.61
Long-Term Debt/Total Assets (%)	- -	- -	- -	11.63	11.06	9.81	7.56	8.39
Total Debt/Equity (%)	- -	- -	- -	14.91	14.21	12.51	9.88	12.38
Total Debt/Capital (%)	- -	- -	- -	-13.22	-8.11	-5.8	-4.25	-2.94
Total Debt/Total Assets (%)	- -	- -	- -	12.05	11.53	10.53	8.28	9.44
Net Debt to Equity	-116.62	-100.92	-78.01	-32.27	-60.56	-89.84	-16.89	-76.57
Net Debt/Capital (%)	590.1	1,741.22	61.81	22.24	25.67	29.38	6.77	15.39
EBITDA	-19	-32	-63	-129	-143	-142	-152	-214
EBITDA-CapEx	-19	-32	-63	-130	-150	-142	-152	-214
Operating Income (Loss)	-19	-33	-63	-131	-146	-144	-154	-216

Liquidity (USD)

API Chat

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	13.28	8.91	33.06	11.16	10.85	14.49	10.23	5.59
Current Ratio	13.74	9.21	33.33	11.39	11.1	14.72	10.37	5.68
Quick Ratio	13.35	8.93	33.06	11.16	10.85	14.49	10.23	5.59
CFO/Avg Current Liab	- -	-6.87	-6.83	-6.56	-5.27	-6.01	-4.87	-5.1
Common Equity/Total Assets	-135.81	-205.57	-46.62	-103.22	-153.71	-192.3	-202.98	-330.45
Long-Term Debt/Equity (%)	- -	- -	- -	14.4	13.64	11.65	9.03	11.01
Long-Term Debt/Capital (%)	- -	- -	- -	-12.76	-7.78	-5.39	-3.88	-2.61
Long-Term Debt/Total Assets (%)	- -	- -	- -	11.63	11.06	9.81	7.56	8.39
Total Debt/Equity (%)	- -	- -	- -	14.91	14.21	12.51	9.88	12.38
Total Debt/Capital (%)	- -	- -	- -	-13.22	-8.11	-5.8	-4.25	-2.94
Total Debt/Total Assets (%)	- -	- -	- -	12.05	11.53	10.53	8.28	9.44
CFO/Total Liabilities	-167.4	-445.32	-454.98	-192.47	-215.78	-257.1	-207.15	-282.69
CFO/CapEx	-1,011.18	-106.21	-114.41	-64.15	-17.82	-627.68	-7,867.07	-1,360.26
Altman's Z-Score	-2.16	-4.06	21.75	2.79	0.26	1.08	4.11	-6.34

Working Capital (USD)

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	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API Chat

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	425	440	283	344	705	- -
- Cash & Cash Equivalents	44	44	269	75	140	225	49	162
+ Preferred Equity and Hybrid Capital	102	144	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	35	33	31	29	26
Enterprise Value	58	100	73	232	73	115	422	-212
Total Capital	37	41	-166	-262	-405	-541	-682	-891
Total Debt/Capital (%)	- -	- -	- -	-13.22	-8.11	-5.8	-4.25	-2.94
Total Debt / EV	- -	- -	- -	0.15	0.45	0.27	0.07	-0.12
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	425	440	283	344	705	- -
Diluted Enterprise Value	58	100	156	400	176	150	684	-136
EV per Share	5.06	7.63	4.33	6.06	1.33	1.52	3.07	- -
TTM Sales	- -	- -	- -	- -	- -	- -	- -	- -
TTM EBITDA	-19	-32	-63	-129	-143	-142	-152	-214
TTM Operating Income	-19	-33	-63	-131	-146	-144	-154	-216
TTM Cash Flow to Firm	-17	-28	-53	-106	-116	-121	-118	-186
TTM Free Cash Flow to Firm	-17	-28	-53	-104	-110	-121	-118	-186

Multiples (USD)

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	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	-8.07	-4.21	-2.57	-2.84	-5.97	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	58	100	73	232	73	115	422	-212
Low Price	- -	- -	15.33	11.34	2.06	1.57	3.86	1.29
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	-6.62	-6.31	-1.94	-2.16	-5.59	- -
Price/Earnings High	- -	- -	-8.54	-11.18	-4.6	-4.31	-8.35	- -
Price/Earnings Low	- -	- -	-4.1	-3.33	-0.79	-0.89	-3.84	- -
Price/Book Value	- -	- -	-2.56	-1.49	-0.65	-0.6	-0.99	- -
Price/Book Value Average	- -	- -	-2.53	-2.77	-0.63	-0.51	-1.09	- -
Price/Book Value High	- -	- -	-3.26	-4.92	-1.49	-1.01	-1.62	- -
Price/Book Value Low	- -	- -	-1.57	-1.47	-0.26	-0.21	-0.75	- -
Price/Tangible Book Value	- -	- -	1.23	1.9	1.22	1.37	2.4	- -
Price/Tangible Book Value Average	- -	- -	1.22	3.54	1.19	1.16	2.63	- -
Price/Tangible Book Value High	- -	- -	1.57	6.28	2.83	2.31	3.94	- -
Price/Tangible Book Value Low	- -	- -	0.76	1.87	0.49	0.47	1.81	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	-8	-4.15	-2.43	-2.84	-5.97	- -
Price/Cash Flow Average	- -	- -	-7.91	-7.75	-2.37	-2.4	-6.54	- -
Price/Cash Flow High	- -	- -	-10.21	-13.73	-5.62	-4.78	-9.78	- -
Price/Cash Flow Low	- -	- -	-4.9	-4.09	-0.97	-0.98	-4.49	- -
Price/Free Cash Flow Average	- -	- -	-7.98	-7.87	-2.51	-2.4	-6.54	- -
Price/Free Cash Flow High	- -	- -	-10.3	-13.94	-5.95	-4.79	-9.78	- -
Price/Free Cash Flow Low	- -	- -	-4.94	-4.16	-1.03	-0.98	-4.5	- -
EV/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales High	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Average	-3.1	-3.12	-2.41	-6.08	-1.17	-0.68	-4.95	0.63
EV/EBITDA High	-3.1	-3.12	-4.35	-11.01	-3.81	-2.72	-7.46	0.63
EV/EBITDA Low	-3.1	-3.12	0.14	-3.07	-0.04	0.53	-3.36	0.63
EV/EBIT Average	-3.02	-3.08	-2.39	-5.98	-1.15	-0.67	-4.88	0.63
EV/EBIT High	-3.02	-3.08	-4.3	-10.83	-3.75	-2.68	-7.36	0.63
EV/EBIT Low	-3.02	-3.08	0.13	-3.02	-0.04	0.52	-3.31	0.63
Last Price	- -	- -	25.03	11.49	5.17	4.54	5.13	5.02
High Price	- -	- -	31.94	38.01	11.95	7.65	8.4	5.66
Enterprise Value Average	58	100	151	782	168	96	751	-136
Enterprise Value High	58	100	273	1,416	546	385	1,134	-136
Enterprise Value Low	58	100	-9	394	5	-75	510	-136

	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	31	31	38	39	48	78	109	149
Diluted Weighted Avg Shares	11	13	17	38	55	76	137	- -
Basic Weighted Avg Shares	11	13	17	38	55	76	137	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	-1.63	-2.44	-3.7	-3.36	-2.62	-1.87	-1.11	- -
Operating Income per Share	-1.67	-2.48	-3.74	-3.41	-2.66	-1.9	-1.12	- -
Basic EPS, GAAP	-1.6	-2.83	-3.74	-3.4	-2.6	-1.77	-1.01	- -
Basic EPS from Cont Ops	-1.6	-2.83	-3.74	-3.4	-2.6	-1.77	-1.01	- -
Diluted EPS, GAAP	-1.6	-2.83	-3.74	-3.4	-2.6	-1.77	-1.01	- -
Diluted EPS from Cont Ops	-1.6	-2.83	-3.74	-3.4	-2.6	-1.77	-1.01	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-1.5	-2.16	-3.13	-2.77	-2.13	-1.6	-0.86	- -
Free Cash Flow per Basic Share	-1.5	-2.18	-3.16	-2.81	-2.25	-1.6	-0.86	- -
Cash & Equivalents per Share	3.86	3.35	20.7	6.33	4.44	3.43	2.27	- -
Book Value per Share	-5.71	-7.82	-9.78	-7.73	-8.02	-7.56	-5.17	- -
Tangible Book Value per Share	-5.61	-7.66	20.3	6.05	4.23	3.31	2.13	- -

Annexon, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)