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French-German maker of single-use bioprocessing equipment and consumables for biopharmaceutical manufacturing, majority-owned by Sartorius AG.
French-German maker of single-use bioprocessing equipment and consumables for biopharmaceutical manufacturing, majority-owned by Sartorius AG.
Works like razor and blades: bioreactors and process systems are sold once, while the single-use bags, filters and media must be re-bought for every production batch, and these consumables carry most of the revenue. It added reagents used in gene-therapy manufacturing by acquiring Polyplus.
Moat: narrow (switching costs, installed base, process know-how). Single-use bioprocessing systems get validated into drug manufacturing, raising switching costs.
Headquarters: Aubagne, France · Employees: 10,265
Size Sartorius Stedim Biotech (DIM.PA) is a France Health Care company (Medical Specialties) with a market value of $24.7B, the 30th largest of 206 France companies the cockpit tracks. Shares closed at €225.80 on 6 Nov 2026.
Performance Over six months the shares gained 38.4%, against +28.7% for the median peer and -0.4% for the France market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 3.9% over the last twelve months (peer median +6.9%); the operating margin is 18.6% (peer median 18.7%).
Valuation It trades at 45.5× forward earnings against a peer median of 27.0× (3rd most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 33% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +24 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.1 points below its cost of capital (10.6% WACC).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €3.06B | €2.97B | €2.78B | €2.78B | €3.49B |
| Revenue growth | — | +7% | 0% | -21% | — |
| Gross profit | €1.36B | €1.35B | €1.21B | €1.23B | €1.83B |
| EBITDA | €895M | €867M | €722M | €725M | €1.28B |
| Net income | €324M | €266M | €175M | €310M | €876M |
| Free cash flow | €270M | €145M | €298M | €156M | €171M |
| Capital expenditure | €349M | €393M | €340M | €474M | €431M |
| Total debt | €2.31B | €2.60B | €2.87B | €3.68B | €1.14B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Sartorius Stedim Biotech DIM.PA | $24.7B | +38% | +4% | 19% | 45.5× | 33.1% |
| Danaher DHR | $162B | +35% | +6% | 21% | 25.3× | 20.5% |
| Thermo Fisher Scientific TMO | $257B | +50% | +8% | 19% | 25.8× | 20.9% |
| Merck KGaA MRK.DE | $72.5B | +23% | 0% | 20% | 17.5× | 7.7% |
| Repligen RGEN | $11.1B | +41% | +14% | 9% | 71.3× | 56.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DIM.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.6% | +12.6% | 9th lowest of 21 |
| 6-month return | +38.4% | +28.7% | 7th highest of 21 |
| Distance from 52-week high | -1.7% | -8.5% | highest of 21 |
| Revenue growth (TTM) | +3.9% | +6.9% | 5th lowest of 21 |
| Operating margin | 18.6% | 18.7% | 11th highest of 21 |
| Forward P/E | 45.5× | 27.0× | 3rd most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 33.1% | 14.5% | 3rd most demanding of 19 |
| Growth delivered (Del g) | +9.2% | +7.9% | 8th highest of 19 |
| Hurdle (Req g minus delivered) | +23.9 pp | +1.5 pp | 3rd most demanding of 19 |
| ROIC minus cost of capital | -4.1 pp | +3.3 pp | 4th lowest of 21 |
| EV / EBITDA | 27.0× | 19.5× | 6th most expensive of 18 |
| Net debt / EBITDA | 2.4× | 1.0× | 4th most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sartorius Stedim Biotech DIM.PA | France | $24.7B | +38% | +4% | 19% | 45.5× | 33.1% | +9.2% |
| Steris STE | United States | $24.6B | +22% | +8% | 20% | 21.4× | 13.7% | +13.8% |
| Terumo 4543.T | Japan | $23.4B | +25% | +14% | 17% | 24.6× | 8.7% | +13.0% |
| West Pharmaceutical Services WST | United States | $27.9B | +23% | +13% | 23% | 39.8× | 25.2% | +7.5% |
| Dexcom DXCM | United States | $29.6B | +31% | +13% | 24% | 27.0× | 18.5% | +19.3% |
| Straumann STMN.SW | Switzerland | $20.4B | +25% | +2% | 21% | 31.9× | 15.2% | +12.8% |
| Sonova SOON.SW | Switzerland | $20.3B | +62% | -7% | 21% | 25.6× | 7.1% | +6.7% |
| Guardant Health GH | United States | $20.2B | +58% | +43% | -40% | n/a | n/a | n/a |
| Zimmer Biomet ZBH | United States | $20.1B | +29% | +7% | 16% | 12.0× | -1.4% | +3.2% |
| Sartorius SRT.DE | Germany | $20.0B | +34% | +4% | 18% | 42.6× | 24.9% | +8.7% |
| Illumina ILMN | United States | $32.2B | +50% | +6% | 21% | 35.7× | 27.1% | +6.0% |
| ResMed RMD | United States | $33.1B | +14% | +9% | 34% | 19.1× | 4.9% | +12.1% |
| Shenzhen Mindray Bio-Medical Electronics 300760.SZ | China | $33.4B | +9% | +5% | 28% | 27.1× | 0.9% | +9.7% |
| Coloplast A/S COLO-B.CO | Denmark | $17.7B | +26% | +4% | 25% | 19.9× | -1.8% | +8.3% |
| Mettler Toledo MTD | United States | $34.5B | +53% | +7% | 28% | 33.9× | 20.3% | +5.5% |
| Revvity RVTY | United States | $17.3B | +54% | +5% | 15% | 26.7× | 27.3% | -5.5% |
| GE HealthCare GEHC | United States | $37.2B | +30% | +7% | 14% | 15.4× | 4.3% | +3.7% |
| Alcon ALC.SW | Switzerland | $37.5B | +22% | -1% | 11% | 21.4× | 12.9% | +6.1% |
| Shanghai United Imaging Healthcare 688271.SS | China | $14.8B | +9% | +27% | 9% | 46.9× | n/a | n/a |
| Waters WAT | United States | $45.0B | +29% | +81% | 10% | 28.6× | 46.2% | +6.0% |
| Lenskart Solutions LENSKART.NS | India | $13.4B | +49% | +35% | 10% | 137.4× | 52.8% | +33.5% |