Loading…
Swedish maker of laboratory equipment and culture media used in IVF and fertility clinics worldwide.
Swedish maker of laboratory equipment and culture media used in IVF and fertility clinics worldwide.
Culture media that clinics buy anew for every IVF cycle is a recurring line, so volumes follow treatment cycles, while incubators and imaging systems are capital purchases that lead to media sales. Genetic testing services were added by buying Igenomix.
In one line: A niche fertility-technology leader like a smaller CooperSurgical.
Moat: narrow (installed base, customer qualification, brand). Leading global position in IVF consumables/equipment with embedded clinic workflows, though competition exists from larger medtech.
Headquarters: Gothenburg, Sweden · Founded: 1994 · Employees: 1,151
Size Vitrolife (VITR.ST) is a Sweden Health Care company (Medical Specialties) with a market value of $1.63B, the 99th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 120.10 on 6 Nov 2026.
Performance Over six months the shares gained 14.4%, against -4.0% for the median peer and +8.2% for the Sweden market (cap-weighted) — 7th highest of 20 in its peer set.
Growth Revenue fell 1.9% over the last twelve months (peer median +11.7%); the operating margin is 19.2% (peer median 10.9%).
Valuation It trades at 27.6× forward earnings against a peer median of 22.0× (7th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 22% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 5.6 points below its cost of capital (11.4% WACC).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 3.44B | SEK 3.44B | SEK 3.61B | SEK 3.51B | SEK 3.23B |
| Revenue growth | — | -5% | +3% | +9% | — |
| Gross profit | SEK 1.80B | SEK 1.75B | SEK 1.88B | SEK 1.74B | SEK 1.55B |
| EBITDA | SEK 1.07B | SEK 1.04B | SEK 1.24B | SEK 1.16B | SEK 1.04B |
| Net income | -SEK 4.96B | -SEK 5.01B | SEK 513M | -SEK 3.85B | SEK 394M |
| Free cash flow | SEK 603M | SEK 460M | SEK 815M | SEK 689M | SEK 585M |
| Capital expenditure | SEK 93.0M | SEK 247M | SEK 202M | SEK 120M | SEK 87.0M |
| Total debt | SEK 1.73B | SEK 1.60B | SEK 2.09B | SEK 2.09B | SEK 2.23B |
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 |
|---|---|---|---|---|---|---|
| Vitrolife VITR.ST | $1.63B | +14% | -2% | 19% | 27.6× | 22.0% |
| Cooper Companies (The) COO | $11.9B | +4% | +5% | 19% | 13.8× | 9.4% |
| Merck KGaA MRK.DE | $72.5B | +23% | 0% | 20% | 17.5× | 7.7% |
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 | VITR.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +29.0% | -1.6% | 2nd highest of 21 |
| 6-month return | +14.4% | -4.0% | 7th highest of 20 |
| Distance from 52-week high | -21.2% | -22.1% | 11th highest of 21 |
| Revenue growth (TTM) | -1.9% | +11.7% | lowest of 21 |
| Operating margin | 19.2% | 10.9% | 5th highest of 21 |
| Forward P/E | 27.6× | 22.0× | 7th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 22.0% | 17.9% | 5th most demanding of 14 |
| Growth delivered (Del g) | +22.5% | +12.7% | 5th highest of 14 |
| Hurdle (Req g minus delivered) | -0.5 pp | -2.2 pp | 7th most demanding of 14 |
| ROIC minus cost of capital | -5.6 pp | +2.3 pp | 7th lowest of 21 |
| EV / EBITDA | 15.8× | 19.0× | 6th cheapest of 11 |
| Net debt / EBITDA | 0.8× | 1.5× | 5th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Vitrolife VITR.ST | Sweden | $1.63B | +14% | -2% | 19% | 27.6× | 22.0% | +22.5% |
| Nihon Kohden 6849.T | Japan | $1.63B | +8% | +1% | 7% | 17.6× | -2.1% | +3.3% |
| Molbio Diagnostics MOLBIO.NS | India | $1.63B | n/a | +35% | 17% | n/a | n/a | n/a |
| Rigaku 268A.T | Japan | $1.66B | -57% | +5% | 15% | 20.4× | 18.8% | +14.5% |
| Shanghai MicroPort Endovascular MedTech 688016.SS | China | $1.59B | -14% | +16% | 44% | 17.2× | 3.1% | +23.4% |
| Sinocare 300298.SZ | China | $1.58B | +15% | +7% | 6% | 23.6× | 10.8% | +18.3% |
| ChemoMetec A/S CHEMM.CO | Denmark | $1.69B | +124% | +3% | 49% | 52.0× | 17.9% | +12.7% |
| Enovis ENOV | United States | $1.57B | +2% | +5% | 3% | 7.7× | 22.3% | -6.0% |
| Butterfly Network BFLY | United States | $1.70B | +53% | +39% | -36% | n/a | n/a | n/a |
| NIPRO 8086.T | Japan | $1.55B | -9% | +3% | 6% | 14.9× | n/a | n/a |
| NovoCure NVCR | United States | $1.55B | -26% | +13% | -17% | n/a | n/a | n/a |
| Cofoe Medical Technology 301087.SZ | China | $1.71B | -5% | +33% | 10% | 26.9× | 12.5% | +7.4% |
| Kestra Medical Technologies KMTS | United States | $1.72B | +37% | +61% | -134% | n/a | n/a | n/a |
| CONMED CNMD | United States | $1.53B | +40% | +2% | 2% | 11.1× | 32.4% | +9.8% |
| Poly Medicure POLYMED.NS | India | $1.73B | -4% | +18% | 17% | 40.6× | n/a | n/a |
| Angelalign Technology 6699.HK | Hong Kong | $1.74B | -7% | +84% | 9% | 52.1× | 18.1% | +25.8% |
| Embla Medical hf EMBLA.CO | Denmark | $1.75B | +3% | +6% | 14% | 17.9× | -1.8% | +8.3% |
| Fukuda Denshi 6960.T | Japan | $1.75B | -5% | 0% | 19% | 14.6× | -3.2% | -1.0% |
| Wuxi Unicomp Technology 688531.SS | China | $1.80B | -36% | +53% | 12% | 40.7× | n/a | n/a |
| Beijing Balance Medical Technology 688198.SS | China | $1.47B | -26% | +10% | 28% | 46.6× | 22.6% | +27.6% |
| Suzhou Sepax Technologies 688758.SS | China | $1.45B | +19% | +28% | 40% | 50.8× | 24.7% | +23.6% |