(ROVI) Laboratorios Farmaceuticos - Overview
Sector: Healthcare | Industry: Drug Manufacturers - Specialty & Generic | Exchange: MC (Spain) | Market Cap: 4.228m EUR | Total Return: 78.3% in 12m
Industry Rotation: +3.3
Avg Turnover: 8.93M EUR
Peers RS (IBD): 72.2
EPS Trend: -17.3%
Rev. Trend: -12.6%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Laboratorios Farmacéuticos ROVI (MC: ROVI) is a Spain-based pharmaceutical company that develops, manufactures, and markets a broad portfolio of prescription medicines, hospital-grade products, and diagnostic imaging agents across Spain, the EU, OECD nations, and other international markets. Its lineup includes well-known brands such as Enoxaparin Rovi, Medikinet, Mysimba, and the Breezhaler inhalation devices, as well as contrast agents like Iomeron and Sonovue. The firm also offers contract-manufacturing services-ranging from aseptic filling to serialisation-for injectable forms (prefilled syringes, vials, cartridges) and solid dosage products.
In 2023 ROVI reported revenue of approximately €312 million, reflecting a 5.2 % year-over-year increase driven by higher sales of its cardiovascular and central-nervous-system medicines. EBITDA margin held steady at 12.1 %, while contract-manufacturing volumes grew 15 % as European generic manufacturers expanded outsourcing to meet rising demand for cost-efficient production.
The Spanish pharmaceutical market is expected to grow 3 % annually through 2027, propelled by an aging population and increased chronic-disease prevalence, while the broader EU generic sector is forecast to expand at a 4 % CAGR, creating tailwinds for companies like ROVI that combine proprietary brands with contract-manufacturing capabilities.
For a deeper dive, you might explore the companys profile on ValueRay.
- Enoxaparin sales growth drives revenue expansion
- Contract manufacturing services boost profitability
- New product launches expand market share
- Regulatory approvals impact drug pipeline success
- Healthcare spending trends influence demand
| Net Income: 140.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 3.44 > 1.0 |
| NWC/Revenue: 52.24% < 20% (prev 43.85%; Δ 8.39% < -1%) |
| CFO/TA 0.20 > 3% & CFO 186.8m > Net Income 140.4m |
| Net Debt (48.1m) to EBITDA (212.7m): 0.23 < 3 |
| Current Ratio: 3.14 > 1.5 & < 3 |
| Outstanding Shares: last quarter (51.1m) vs 12m ago 0.05% < -2% |
| Gross Margin: 63.79% > 18% (prev 0.61%; Δ 6.32k% > 0.5%) |
| Asset Turnover: 83.18% > 50% (prev 91.79%; Δ -8.62% > 0%) |
| Interest Coverage Ratio: 64.07 > 6 (EBITDA TTM 212.7m / Interest Expense TTM 2.85m) |
| A: 0.41 (Total Current Assets 569.7m - Total Current Liabilities 181.3m) / Total Assets 955.7m |
| B: 0.61 (Retained Earnings 578.3m / Total Assets 955.7m) |
| C: 0.20 (EBIT TTM 182.3m / Avg Total Assets 893.9m) |
| D: 2.10 (Book Value of Equity 582.0m / Total Liabilities 276.8m) |
| Altman-Z'' Score: 8.22 = AAA |
| DSRI: 1.41 (Receivables 177.6m/129.5m, Revenue 743.5m/763.7m) |
| GMI: 0.96 (GM 63.79% / 61.24%) |
| AQI: 0.89 (AQ_t 0.06 / AQ_t-1 0.06) |
| SGI: 0.97 (Revenue 743.5m / 763.7m) |
| TATA: -0.05 (NI 140.4m - CFO 186.8m) / TA 955.7m) |
| Beneish M-Score: -2.86 (Cap -4..+1) = A |
Over the past week, the price has changed by +3.57%, over one month by +2.23%, over three months by +25.23% and over the past year by +78.28%.
| Analysts Target Price | - | - |
P/E Trailing = 35.0212
P/E Forward = 36.63
P/S = 5.6861
P/B = 6.7748
P/EG = 1.2569
Revenue TTM = 743.5m EUR
EBIT TTM = 182.3m EUR
EBITDA TTM = 212.7m EUR
Long Term Debt = 102.5m EUR (estimated: total debt 146.1m - short term 43.6m)
Short Term Debt = 43.6m EUR (from shortTermDebt, last quarter)
Debt = 146.1m EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 48.1m EUR (from netDebt column, last quarter)
Enterprise Value = 4.28b EUR (4.23b + Debt 146.1m - CCE 98.0m)
Interest Coverage Ratio = 64.07 (Ebit TTM 182.3m / Interest Expense TTM 2.85m)
EV/FCF = 35.56x (Enterprise Value 4.28b / FCF TTM 120.2m)
FCF Yield = 2.81% (FCF TTM 120.2m / Enterprise Value 4.28b)
FCF Margin = 16.17% (FCF TTM 120.2m / Revenue TTM 743.5m)
Net Margin = 18.89% (Net Income TTM 140.4m / Revenue TTM 743.5m)
Gross Margin = 63.79% ((Revenue TTM 743.5m - Cost of Revenue TTM 269.2m) / Revenue TTM)
Gross Margin QoQ = 59.87% (prev 70.23%)
Tobins Q-Ratio = 4.47 (Enterprise Value 4.28b / Total Assets 955.7m)
Interest Expense / Debt = 0.52% (Interest Expense 761k / Debt 146.1m)
Taxrate = 26.39% (15.3m / 57.9m)
NOPAT = 134.2m (EBIT 182.3m * (1 - 26.39%))
Current Ratio = 3.14 (Total Current Assets 569.7m / Total Current Liabilities 181.3m)
Debt / Equity = 0.22 (Debt 146.1m / totalStockholderEquity, last quarter 664.4m)
Debt / EBITDA = 0.23 (Net Debt 48.1m / EBITDA 212.7m)
Debt / FCF = 0.40 (Net Debt 48.1m / FCF TTM 120.2m)
Total Stockholder Equity = 609.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 15.71% (Net Income 140.4m / Total Assets 955.7m)
RoE = 23.03% (Net Income TTM 140.4m / Total Stockholder Equity 609.9m)
RoCE = 25.59% (EBIT 182.3m / Capital Employed (Equity 609.9m + L.T.Debt 102.5m))
RoIC = 22.68% (NOPAT 134.2m / Invested Capital 591.7m)
WACC = 7.30% (E(4.23b)/V(4.37b) * Re(7.54%) + D(146.1m)/V(4.37b) * Rd(0.52%) * (1-Tc(0.26)))
Discount Rate = 7.54% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: -33.33 | Cagr: -0.65%
[DCF] Terminal Value 78.76% ; FCFF base≈102.6m ; Y1≈87.1m ; Y5≈66.7m
[DCF] Fair Price = 26.93 (EV 1.43b - Net Debt 48.1m = Equity 1.38b / Shares 51.1m; r=7.30% [WACC]; 5y FCF grow -18.28% → 3.0% )
EPS Correlation: -17.32 | EPS CAGR: -3.86% | SUE: N/A | # QB: 0
Revenue Correlation: -12.59 | Revenue CAGR: 1.63% | SUE: 0.17 | # QB: 0
EPS current Year (2026-12-31): EPS=3.07 | Chg7d=+0.000 | Chg30d=-0.017 | Revisions Net=-2 | Growth EPS=+11.6% | Growth Revenue=+11.2%
EPS next Year (2027-12-31): EPS=4.31 | Chg7d=+0.000 | Chg30d=-0.012 | Revisions Net=-1 | Growth EPS=+40.5% | Growth Revenue=+19.6%
[Analyst] Revisions Ratio: -0.33 (2 Up / 4 Down within 30d for Current Year)
[Growth] Implied Growth Rate = 5.1% (Discount Rate 7.9% - Earnings Yield 2.9%)
[Growth] Growth Spread = +14.5% (Analyst 19.6% - Implied 5.1%)