Financials Straumann Holding AG Deutsche Boerse AG

Equities

QS51

CH1175448666

Medical Equipment, Supplies & Distribution

Delayed Deutsche Boerse AG Other stock markets 04:55:04 2019-06-28 EDT			5-day change	1st Jan Change
77.8 ^EUR	+1.46%		-.--%	-.--%

04-30	Global markets live: Adidas, Mercedes, McDonalds, Eli Lilly, PayPal, MicroStrategy, Tesla...
04-30	Transcript : Straumann Holding AG, Q1 2024 Sales/ Trading Statement Call, Apr 30, 2024

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	15,048	16,394	30,811	16,832	21,608	19,699	-	-
Enterprise Value (EV) ¹	15,028	16,278	30,435	16,625	21,436	19,440	19,173	18,784
P/E ratio	49.4 x	180 x	78 x	38.8 x	88.1 x	41.6 x	34.1 x	28.9 x
Yield	0.61%	0.56%	0.35%	0.76%	0.63%	0.74%	0.88%	0.99%
Capitalization / Revenue	9.43 x	11.5 x	15.2 x	7.25 x	8.96 x	7.61 x	6.82 x	6.11 x
EV / Revenue	9.41 x	11.4 x	15.1 x	7.16 x	8.89 x	7.51 x	6.64 x	5.83 x
EV / EBITDA	31.2 x	40.1 x	46.6 x	23.3 x	29.5 x	25 x	21.5 x	18.5 x
EV / FCF	65.3 x	55.2 x	69.3 x	75.7 x	68.2 x	54 x	42.9 x	34.3 x
FCF Yield	1.53%	1.81%	1.44%	1.32%	1.47%	1.85%	2.33%	2.91%
Price to Book	11.1 x	13.6 x	20.6 x	9.09 x	11.8 x	9.07 x	7.54 x	6.3 x
Nbr of stocks (in thousands)	158,334	158,933	159,066	159,399	159,355	159,443	-	-
Reference price ²	95.04	103.2	193.7	105.6	135.6	123.6	123.6	123.6
Announcement Date	20-02-18	21-02-16	22-02-15	23-02-21	24-02-21	-	-	-

¹CHF in Million²CHF

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,596	1,426	2,022	2,321	2,412	2,588	2,889	3,222
EBITDA ¹	481	406	652.4	712.1	727.2	776.7	891	1,017
EBIT ¹	387	156.5	553.3	602.6	606.4	636.5	737.3	849.1
Operating Margin	24.25%	10.98%	27.37%	25.96%	25.14%	24.59%	25.52%	26.35%
Earnings before Tax (EBT) ¹	365.5	113.9	477.4	498.4	345.6	573.4	696.7	814.4
Net income ¹	306.5	91.28	396.1	434.8	246.1	472.5	576.8	683.4
Net margin	19.2%	6.4%	19.59%	18.73%	10.2%	18.26%	19.96%	21.21%
EPS ²	1.925	0.5730	2.482	2.720	1.540	2.972	3.622	4.277
Free Cash Flow ¹	230	295	439.3	219.7	314.5	360.3	447.1	546.9
FCF margin	14.41%	20.69%	21.73%	9.47%	13.04%	13.92%	15.47%	16.97%
FCF Conversion (EBITDA)	47.82%	72.66%	67.34%	30.86%	43.25%	46.39%	50.18%	53.76%
FCF Conversion (Net income)	75.05%	323.17%	110.92%	50.54%	127.82%	76.26%	77.52%	80.03%
Dividend per Share ²	0.5750	0.5750	0.6750	0.8000	0.8500	0.9176	1.081	1.223
Announcement Date	20-02-18	21-02-16	22-02-15	23-02-21	24-02-21	-	-	-

¹CHF in Million²CHF

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2020 S2	2021 S1	2021 Q3	2021 Q4	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 S1	2024 S2
Net sales ¹	816.2	605.1	820.8	985.5	496.3	540.1	1,036	588.9	589.4	1,178	550.5	592.8	1,142	596	621.3	1,217	570.6	624.3	1,195	627.5	1,305	1,348
EBITDA	257.8	123.9	282	332.6	-	-	319.8	-	-	381.7	-	-	330.4	-	-	375.7	-	-	351.5	-	-	-
EBIT	207.7	100.2	230.3	284	-	-	269.4	-	-	329.1	-	-	273.5	-	-	316.7	-	-	289.7	-	338.3	316.9
Operating Margin	25.45%	16.56%	28.06%	28.81%	-	-	25.99%	-	-	27.93%	-	-	23.94%	-	-	26.03%	-	-	24.24%	-	25.93%	23.51%
Earnings before Tax (EBT)	192.3	-97.96	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	90.13	-	-	-
Net income	160	-93.46	184.7	172.8	-	-	223.2	-	-	265.4	-	-	169.4	-	-	205.8	-	-	40.3	-	-	-
Net margin	19.6%	-15.45%	22.51%	17.54%	-	-	21.54%	-	-	22.52%	-	-	14.83%	-	-	16.91%	-	-	3.37%	-	-	-
EPS	1.004	-0.5890	1.162	1.084	-	-	1.398	-	-	1.670	-	-	1.050	-	-	1.290	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	20-02-18	20-08-13	21-02-16	21-08-11	21-10-28	22-02-15	22-02-15	22-05-16	22-08-16	22-08-16	22-11-02	23-02-21	23-02-21	23-05-15	23-08-15	23-08-15	23-10-31	24-02-21	24-02-21	-	-	-

¹CHF in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	20.2	116	376	208	172	259	526	915
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	230	295	439	220	315	360	447	547
ROE (net income / shareholders' equity)	24%	7.7%	28.8%	24.9%	22.9%	23.8%	24.5%	24%
ROA (Net income/ Total Assets)	13.6%	3.9%	14.3%	13.6%	13%	13%	14.7%	15.5%
Assets ¹	2,253	2,341	2,770	3,197	1,893	3,623	3,918	4,420
Book Value Per Share ²	8.590	7.580	9.400	11.60	11.50	13.60	16.40	19.60
Cash Flow per Share ²	2.380	2.360	3.510	2.600	3.160	3.940	4.540	5.330
Capex ¹	150	82	121	195	189	203	205	217
Capex / Sales	9.38%	5.75%	5.98%	8.42%	7.85%	7.86%	7.09%	6.73%
Announcement Date	20-02-18	21-02-16	22-02-15	23-02-21	24-02-21	-	-	-

¹CHF in Million²CHF

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Straumann Holding AG

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

123.6 CHF

Average target price

135.9 CHF

Spread / Average Target

+10.03%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Medical Prosthetics

	1st Jan change	Capi.
SONOVA HOLDING AG	+6.12%	19.55B
COCHLEAR LIMITED	+10.62%	14.82B
DEMANT A/S	+13.18%	10.5B
EYEBRIGHT MEDICAL TECHNOLOGY (BEIJING) CO., LTD.	-12.19%	2.22B
EMBLA MEDICAL HF.	+4.55%	1.83B
ANGELALIGN TECHNOLOGY INC.	+34.92%	1.64B
ANGEL ROBOTICS CO., LTD.	0.00%	397M
DELCATH SYSTEMS, INC.	+80.77%	193M
INTEGRUM AB	+19.61%	94.06M

Medical Prosthetics