Deep Value: cash covers more than 100% of the stock price

This company holds roughly $2.9B in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Lakefront Biotherapeutics N.V.

LKFT

Biotechnology · Healthcare

Price

$28.80

+0.53 (+1.87%)

Market Cap

$1.90B

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Weak

Stability

Exceptional

Valuation

Good

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Winston Score History

The full picture

Galapagos NV is a biotechnology company, which engages in the identification and development of small molecule and antibody therapies. Its clinical pipeline includes filgotinib, GLP3667, Toledo program, and idiopathic pulmonary fibrosis. The company was founded by Onno van de Stolpe, Rudi Pauwels, and Helmuth van Es on June 30, 1999 and is headquartered in Mechelen, Belgium.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

-185.8%

Thin — -185.8% gross margin

Profit after running costs

Operating Margin

-358.9%

Losing money on operations — -358.9%

Return on the money invested

ROCE

18.7%

Strong — 18.7% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

N/A

Data not available

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

1/1 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

-32%

Weak — only -32% of profit becomes cash

Spare cash per sale

FCF Margin

-19.9%

Burning cash (-19.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.00

Conservative — low debt load (0.00)

Covers its interest

Interest Cover

2166.05x

Comfortably covers interest (2166.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

3.2x

Attractive valuation — P/E 3.2

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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