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Spanish plasma-derived biopharmaceutical company making treatments from blood plasma for immune and rare disorders.
Spanish plasma-derived biopharmaceutical company making treatments from blood plasma for immune and rare disorders.
Collects plasma, the liquid part of blood, from paid donors at its own donation centres, mostly in the US, then processes it into medicines sold to hospitals and through distributors. Plasma supply rather than demand is the limit, so donor volumes shape cost. The founding Grifols family remains an important shareholder.
In one line: A Spanish peer to CSL Limited/CSL Behring.
Moat: narrow (scale, regulatory licence, installed base). Owns one of the world's largest plasma-collection networks, a capital- and regulation-intensive barrier to entry.
Headquarters: Barcelona, Spain · Founded: 1940 · Employees: 25,258
Size Grifols (GRF.MC) is a Spain Health Care company (Pharmaceuticals: Major) with a market value of $7.49B, the 25th largest of 97 Spain companies the cockpit tracks. Shares closed at €11.24 on 6 Nov 2026.
Performance Over six months the shares gained 22.6%, against +6.7% for the median peer and +8.2% for the Spain market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue fell 0.3% over the last twelve months (peer median +13.4%); the operating margin is 16.2% (peer median 17.4%).
Valuation It trades at 13.0× forward earnings against a peer median of 22.5× (3rd cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -0 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.7 points below its cost of capital (8.2% WACC).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €7.42B | €7.52B | €7.21B | €6.59B | €6.06B |
| Revenue growth | — | +4% | +9% | +9% | — |
| Gross profit | €2.74B | €2.69B | €2.63B | €2.31B | €2.10B |
| EBITDA | €1.65B | €1.69B | €1.56B | €1.14B | €1.09B |
| Net income | €452M | €402M | €157M | €42.3M | €208M |
| Free cash flow | €820M | €782M | €670M | -€5.75M | -€267M |
| Capital expenditure | €450M | €423M | €371M | €310M | €376M |
| Total debt | €8.52B | €8.74B | €9.20B | €10.1B | €9.75B |
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 |
|---|---|---|---|---|---|---|
| Grifols GRF.MC | $7.49B | +23% | 0% | 16% | 13.0× | 6.8% |
| CSL CSL.AX | $67.2B | +105% | -2% | 26% | 22.4× | 7.1% |
| Takeda Pharmaceutical 4502.T | $66.4B | +24% | +6% | 18% | 42.1× | 3.0% |
| ADMA Biologics ADMA | $2.85B | +56% | +8% | 42% | 15.7× | -0.8% |
| Kamada KMDA | $417M | -15% | +11% | 14% | 15.8× | 4.1% |
| GC Biopharma 006280.KS | $1.18B | +2% | -3% | 4% | 5.0× | 8.3% |
| Hualan Biological Engineering 002007.SZ | $3.37B | -15% | -11% | 17% | 25.5× | 16.7% |
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 | GRF.MC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.1% | +3.2% | 5th highest of 21 |
| 6-month return | +22.6% | +6.7% | 9th highest of 21 |
| Distance from 52-week high | -3.9% | -11.5% | 3rd highest of 21 |
| Revenue growth (TTM) | -0.3% | +13.4% | 4th lowest of 20 |
| Operating margin | 16.2% | 17.4% | 8th lowest of 19 |
| Forward P/E | 13.0× | 22.5× | 3rd cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 6.8% | 8.8% | 7th least demanding of 15 |
| Growth delivered (Del g) | +7.1% | +9.7% | 3rd lowest of 15 |
| Hurdle (Req g minus delivered) | -0.3 pp | -6.5 pp | 7th most demanding of 15 |
| ROIC minus cost of capital | -2.7 pp | +4.5 pp | 5th lowest of 20 |
| EV / EBITDA | 10.4× | 20.8× | 4th cheapest of 12 |
| Net debt / EBITDA | 4.9× | -0.7× | most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Grifols GRF.MC | Spain | $7.49B | +23% | 0% | 16% | 13.0× | 6.8% | +7.1% |
| Cytokinetics CYTK | United States | $7.46B | -30% | -21% | -1,046% | n/a | n/a | n/a |
| Kiniksa Pharmaceuticals International KNSA | United States | $7.37B | +60% | +58% | 14% | 61.7× | 9.9% | +45.5% |
| Bachem BANB.SW | Switzerland | $7.32B | +3% | +5% | 19% | 33.1× | n/a | n/a |
| Huadong Medicine 000963.SZ | China | $7.29B | -17% | +2% | 9% | 14.0× | -2.7% | +5.3% |
| Alkermes Public ALKS | United States | $7.71B | +31% | +15% | 5% | n/a | 31.5% | +7.3% |
| Glenmark Pharmaceuticals GLENMARK.NS | India | $7.73B | +9% | +33% | 20% | 32.0× | 20.0% | +9.4% |
| Praxis Precision Medicines PRAX | United States | $7.75B | -16% | -100% | n/a | n/a | n/a | n/a |
| Rhythm Pharmaceuticals RYTM | United States | $7.78B | +19% | +61% | -67% | n/a | n/a | n/a |
| Corcept Therapeutics CORT | United States | $7.96B | +39% | +30% | 12% | 16.4× | 24.9% | +16.6% |
| Amneal Pharmaceuticals AMRX | United States | $7.01B | +53% | +9% | 17% | 17.7× | 15.2% | +8.7% |
| ONO Pharmaceutical 4528.T | Japan | $7.01B | +2% | -2% | 22% | 14.7× | -8.2% | +10.8% |
| H. Lundbeck A/S HLUN-A.CO | Denmark | $8.02B | +47% | +9% | 27% | n/a | -9.1% | +6.6% |
| Kyowa Kirin 4151.T | Japan | $8.05B | +4% | +10% | 24% | 15.6× | -6.1% | +9.3% |
| Asymchem Laboratories (Tianjin) 002821.SZ | China | $8.07B | +23% | +18% | 17% | 41.4× | n/a | n/a |
| RemeGen 9995.HK | Hong Kong | $6.92B | -31% | +293% | 61% | 7.4× | -4.8% | +57.9% |
| ALK-abello A/S ALK-B.CO | Denmark | $8.14B | -5% | +17% | 27% | 35.7× | 7.6% | +12.6% |
| Oruka Therapeutics ORKA | United States | $6.81B | +59% | n/a | n/a | n/a | n/a | n/a |
| Shanghai Pharmaceuticals 601607.SS | China | $8.32B | -2% | +4% | 3% | 11.4× | -10.0% | +8.1% |
| Alkem Laboratories ALKEM.NS | India | $6.67B | -5% | +13% | 17% | 27.4× | 24.3% | +10.7% |
| Protagonist Therapeutics PTGX | United States | $8.54B | +33% | +35% | 21% | 48.4× | 47.5% | +10.0% |