(ALM) Almirall S.A. - Overview
Sector: Healthcare | Industry: Drug Manufacturers - Specialty & Generic | Exchange: MC (Spain) | Market Cap: 2.490m EUR | Total Return: 4.8% in 12m
Avg Turnover: 1.26M
Warnings
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Almirall, S.A. is a Spanish biopharmaceutical company headquartered in Barcelona, specializing in medical dermatology and skin health. The company operates across Europe, the United States, and Asia, managing a diverse portfolio that addresses conditions such as psoriasis, atopic dermatitis, and actinic keratosis. Beyond its core dermatological focus, Almirall maintains therapeutic offerings in the cardiovascular, nervous, and respiratory systems.
The business model relies on a heavy R&D pipeline supported by strategic partnerships with firms like Evotec and Novo Nordisk. Currently, the company is advancing several compounds through clinical trials, including lebrikizumab for pediatric atopic dermatitis and various monoclonal antibodies for inflammatory skin diseases. In the pharmaceutical sector, long-term value is often driven by the success of late-stage clinical assets transitioning to commercial regulatory approval.
You may find deeper insights into the companys valuation and growth metrics by exploring ValueRay. Almirall’s recent shift toward biological treatments reflects a broader industry trend where specialized, high-margin immunology therapies are replacing traditional small-molecule drugs in dermatology.
- Lebrikizumab market penetration in Europe drives long-term dermatology revenue growth
- Tildrakizumab sales performance in psoriasis segment dictates core earnings stability
- Pipeline advancement of IL-1RAP and IL-2muFc candidates shapes future valuation
- R&D partnership milestones with Novo Nordisk and Evotec influence capital allocation
- Regulatory approval timelines for pediatric atopic dermatitis treatments impact market expansion
| Net Income: 52.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 12.68 > 1.0 |
| NWC/Revenue: 28.92% < 20% (prev 42.02%; Δ -13.11% < -1%) |
| CFO/TA 0.12 > 3% & CFO 280.9m > Net Income 52.4m |
| Net Debt (16.5m) to EBITDA (458.2m): 0.04 < 3 |
| Current Ratio: 2.32 > 1.5 & < 3 |
| Outstanding Shares: last quarter (214.8m) vs 12m ago 0.72% < -2% |
| Gross Margin: 67.13% > 18% (prev 0.78%; Δ 6.63k% > 0.5%) |
| Asset Turnover: 58.11% > 50% (prev 42.70%; Δ 15.42% > 0%) |
| Interest Coverage Ratio: 8.61 > 6 (EBITDA TTM 458.2m / Interest Expense TTM 30.7m) |
| A: 0.17 (Total Current Assets 699.0m - Total Current Liabilities 301.9m) / Total Assets 2.33b |
| B: 0.02 (Retained Earnings 46.2m / Total Assets 2.33b) |
| C: 0.11 (EBIT TTM 264.1m / Avg Total Assets 2.36b) |
| D: 1.14 (Book Value of Equity 939.1m / Total Liabilities 822.6m) |
| Altman-Z'' = 3.13 = A |
| DSRI: 0.73 (Receivables 162.5m/166.4m, Revenue 1.37b/1.02b) |
| GMI: 1.17 (GM 67.13% / 78.30%) |
| AQI: 1.02 (AQ_t 0.63 / AQ_t-1 0.62) |
| SGI: 1.34 (Revenue 1.37b / 1.02b) |
| TATA: -0.10 (NI 52.4m - CFO 280.9m) / TA 2.33b) |
| Beneish M = -2.94 (Cap -4..+1) = A |
As of May 30, 2026, the stock is trading at EUR 11.38 with a total of 214,054 shares traded.
Over the past week, the price has changed by -1.90%,
over one month by -7.16%,
over three months by -10.48% and
over the past year by +4.82%.
Almirall S.A. has no consensus analysts rating.
P/E Trailing = 61.0526
P/E Forward = 17.6367
P/S = 2.229
P/B = 1.6858
P/EG = 0.2956
Revenue TTM = 1.37b EUR
EBIT TTM = 264.1m EUR
EBITDA TTM = 458.2m EUR
Long Term Debt = 285.4m EUR (from longTermDebt, last quarter)
Short Term Debt = 18.1m EUR (from shortTermDebt, last fiscal year)
Debt = 327.7m EUR (from shortLongTermDebtTotal, last quarter) + Leases 42.3m
Net Debt = 16.5m EUR (calculated: Debt 327.7m - CCE 311.2m)
Enterprise Value = 2.51b EUR (2.49b + Debt 327.7m - CCE 311.2m)
Interest Coverage Ratio = 8.61 (Ebit TTM 264.1m / Interest Expense TTM 30.7m)
EV/FCF = 13.00x (Enterprise Value 2.51b / FCF TTM 192.7m)
FCF Yield = 7.69% (FCF TTM 192.7m / Enterprise Value 2.51b)
FCF Margin = 14.04% (FCF TTM 192.7m / Revenue TTM 1.37b)
Net Margin = 3.82% (Net Income TTM 52.4m / Revenue TTM 1.37b)
Gross Margin = 67.13% ((Revenue TTM 1.37b - Cost of Revenue TTM 451.4m) / Revenue TTM)
Gross Margin QoQ = none% (prev 40.73%)
Tobins Q-Ratio = 1.08 (Enterprise Value 2.51b / Total Assets 2.33b)
Interest Expense / Debt = 9.36% (Interest Expense 30.7m / Debt 327.7m)
Taxrate = 34.62% (8.10m / 23.4m)
NOPAT = 172.7m (EBIT 264.1m * (1 - 34.62%))
Current Ratio = 2.32 (Total Current Assets 699.0m / Total Current Liabilities 301.9m)
Debt / Equity = 0.22 (Debt 327.7m / totalStockholderEquity, last quarter 1.51b)
Debt / EBITDA = 0.04 (Net Debt 16.5m / EBITDA 458.2m)
Debt / FCF = 0.09 (Net Debt 16.5m / FCF TTM 192.7m)
Total Stockholder Equity = 1.48b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.22% (Net Income 52.4m / Total Assets 2.33b)
RoE = 3.53% (Net Income TTM 52.4m / Total Stockholder Equity 1.48b)
RoCE = 14.93% (EBIT 264.1m / Capital Employed (Equity 1.48b + L.T.Debt 285.4m))
RoIC = 8.45% (NOPAT 172.7m / Invested Capital 2.04b)
WACC = 6.23% (E(2.49b)/V(2.82b) * Re(6.24%) + D(327.7m)/V(2.82b) * Rd(9.36%) * (1-Tc(0.35)))
Discount Rate = 6.24% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 48.89 | Cagr: 1.14%
[DCF] Terminal Value 75.44% ; FCFF base≈192.7m ; Y1≈193.5m ; Y5≈205.0m
[DCF] Fair Price = 14.78 (EV 3.19b - Net Debt 16.5m = Equity 3.17b / Shares 214.6m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: -19.77 | EPS CAGR: -13.30% | SUE: -0.37 | # QB: 0
Revenue Correlation: 40.91 | Revenue CAGR: 4.70% | SUE: -1.38 | # QB: -1
EPS current Quarter (2026-06-30): EPS=0.09 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.09 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS current Year (2026-12-31): EPS=0.39 | Chg30d=N/A | Revisions=+0% | GrowthEPS=+57.0% | GrowthRev=+11.0%
EPS next Year (2027-12-31): EPS=0.56 | Chg30d=N/A | Revisions=-33% | GrowthEPS=+42.2% | GrowthRev=+10.9%
[Analyst] Revisions Ratio: -33%