Employees: 313
Size Surgical Science Sweden (SUS.ST) is a Sweden Health Care company (Medical Specialties) with a market value of $321M, the 216th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 61.65 on 6 Nov 2026.
Performance Over six months the shares gained 86.0%, against -10.4% for the median peer and +8.2% for the Sweden market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 8.4% over the last twelve months (peer median +5.3%); the operating margin is 15.5% (peer median 4.9%).
Valuation It trades at 27.8× forward earnings against a peer median of 15.3× (2nd most expensive of 9).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +57%, so the hurdle is -52 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.6 points below its cost of capital (6.8% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 1.02B | SEK 992M | SEK 884M | SEK 883M | SEK 803M |
| Revenue growth | — | +12% | 0% | +10% | — |
| Gross profit | SEK 597M | SEK 577M | SEK 539M | SEK 559M | SEK 489M |
| EBITDA | SEK 245M | SEK 192M | SEK 210M | SEK 247M | SEK 206M |
| Net income | SEK 93.1M | SEK 66.8M | SEK 132M | SEK 234M | SEK 188M |
| Free cash flow | SEK 124M | SEK 68.1M | SEK 131M | SEK 228M | SEK 120M |
| Capital expenditure | SEK 65.8M | SEK 49.3M | SEK 47.5M | SEK 44.1M | SEK 34.5M |
| Total debt | SEK 2.86M | SEK 78.9M | SEK 75.6M | SEK 53.3M | SEK 29.8M |
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| Measure | SUS.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +18.9% | -7.5% | highest of 21 |
| 6-month return | +86.0% | -10.4% | 2nd highest of 21 |
| Distance from 52-week high | -27.5% | -36.3% | 10th highest of 21 |
| Revenue growth (TTM) | +8.4% | +5.3% | 9th highest of 21 |
| Operating margin | 15.5% | 4.9% | 7th highest of 21 |
| Forward P/E | 27.8× | 15.3× | 2nd most expensive of 9 |
| Growth the price implies (Req g, 7 yrs) | 4.3% | -4.4% | 5th most demanding of 11 |
| Growth delivered (Del g) | +56.8% | -1.0% | highest of 11 |
| Hurdle (Req g minus delivered) | -52.5 pp | -4.7 pp | least demanding of 11 |
| ROIC minus cost of capital | -3.6 pp | -3.9 pp | 9th highest of 19 |
| EV / EBITDA | 10.2× | 12.6× | 6th cheapest of 12 |
| Net debt / EBITDA | -2.7× | -0.5× | 5th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Surgical Science Sweden SUS.ST | Sweden | $321M | +86% | +8% | 16% | 27.8× | 4.3% | +56.8% |
| Japan Eyewear 5889.T | Japan | $321M | -7% | +15% | 32% | 10.7× | -9.0% | +20.2% |
| Kontour (Xi'an) Medical Technology 688314.SS | China | $321M | -39% | +4% | 27% | n/a | 6.1% | +16.4% |
| Orthofix Medical OFIX | United States | $321M | -32% | +3% | -4% | n/a | n/a | n/a |
| Improve Medical Instruments 300030.SZ | China | $320M | -17% | -2% | 4% | n/a | 26.0% | -11.9% |
| Tauns Laboratories 197A.T | Japan | $322M | -2% | -23% | 29% | 15.5× | n/a | n/a |
| Jiangsu Nanfang Medical 603880.SS | China | $336M | +4% | -7% | -15% | n/a | 22.5% | -10.9% |
| CapsoVision CV | United States | $336M | -11% | +15% | -217% | n/a | n/a | n/a |
| Peijia Medical 9996.HK | Hong Kong | $340M | -34% | +21% | -13% | 335.5× | n/a | n/a |
| Stratec SBS.DE | Germany | $341M | +41% | -3% | 3% | 16.4× | n/a | n/a |
| Orchestra BioMed OBIO | United States | $341M | +41% | +986% | -181% | n/a | n/a | n/a |
| Chemclin Diagnostics 688468.SS | China | $342M | -23% | -14% | 6% | n/a | 31.9% | -4.5% |
| BioNote 377740.KS | South Korea | $343M | -10% | +13% | 16% | 15.0× | -19.8% | -28.5% |
| ACRO Biomedical 6748.TWO | Taiwan | $347M | +129% | +45% | -178% | n/a | n/a | n/a |
| Embecta EMBC | United States | $351M | +70% | -8% | 26% | 3.9× | -19.9% | -0.1% |
| Shenzhen Bioeasy Biotechnology 300942.SZ | China | $352M | -27% | +12% | -2% | n/a | n/a | n/a |
| Chongqing Xishan Science and Technology 688576.SS | China | $356M | -26% | -23% | -29% | 15.2× | n/a | n/a |
| i3system 214430.KS | South Korea | $287M | -48% | +8% | 13% | n/a | n/a | n/a |
| COLTENE CLTN.SW | Switzerland | $361M | +3% | -2% | 8% | 25.9× | 0.1% | -0.7% |
| IVF HARTMANN VBSN.SW | Switzerland | $364M | -5% | +7% | 14% | n/a | -12.7% | -1.3% |
| Star Sports Medicine 1609.HK | Hong Kong | $367M | -76% | +23% | 37% | n/a | -13.2% | +36.8% |