BONEX Stock Analysis: Bonesupport Holding | ST
Medical Instruments & Supplies | ST, Sweden | Market Cap: 14.669m SEK | 12M Return: -20.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 32.3M
Rev. Trend: 98.6%
Qual. Beats: -1
Warnings
Tailwinds
Seasonality 9 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Bonesupport Holding AB (publ) is a Swedish orthobiologics company that develops and commercializes injectable bio-ceramic bone graft substitutes. It operates in the United States, Europe, and other international markets, and is classified within the biotechnology sub-industry of the healthcare sector.
The companys product line centers on the CERAMENT platform, a family of injectable ceramic bone graft substitutes designed to remodel into host bone. Key offerings include CERAMENT Bone Void Filler for general bone defect use, CERAMENT G (eluting Gentamicin) and CERAMENT V (eluting Vancomycin) for treating and preventing bone infections during the critical first 30 days of healing, and CERAMENT Bead Tray for targeted local delivery and dead space management. These antibiotic-eluting products address osteomyelitis and related orthopedic infection challenges, a clinically significant and costly issue in musculoskeletal surgery.
Bonesupport was founded in 1999 and is headquartered in Lund, Sweden. Its focus on synthetic, injectable bone graft substitutes positions it as an alternative to traditional autograft and allograft approaches in the regenerative orthopedics field.
- US CERAMENT sales accelerate driving overall revenue growth
- Path to profitability strengthens as operating leverage builds
- Competition from synthetic bone graft substitutes intensifies
- FDA label expansions broaden addressable market
| Net Income: 185.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.22 > 0.02 and ΔFCF/TA 11.86 > 1.0 |
| NWC/Revenue: 59.01% < 20% (prev 49.49%; Δ 9.51% < -1%) |
| CFO/TA 0.22 > 3% & CFO 249.6m > Net Income 185.1m |
| Net Debt (-441.2m) to EBITDA (289.2m): -1.53 < 3 |
| Current Ratio: 5.13 > 1.5 & < 3 |
| Outstanding Shares: last quarter (66.8m) vs 12m ago -0.06% < -2% |
| Gross Margin: 92.48% > 18% (prev 92.60%; Δ -0.12% > 0.5%) |
| Asset Turnover: 120.6% > 50% (prev 111.4%; Δ 9.26% > 0%) |
| Interest Coverage Ratio: 83.22 > 6 (EBIT TTM 277.6m / Interest Expense TTM 3.34m) |
| A: 0.64 (Total Current Assets 890.5m - Total Current Liabilities 173.5m) / Total Assets 1.12b |
| B: -0.60 (Retained Earnings -665.8m / Total Assets 1.12b) |
| C: 0.28 (EBIT TTM 277.6m / Avg Total Assets 1.01b) |
| D: 5.22 (Book Value of Equity 938.9m / Total Liabilities 179.9m) |
| Altman-Z'' = 9.59 = AAA |
| DSRI: 0.91 (Receivables 222.3m/199.6m, Revenue 1.22b/997.9m) |
| GMI: 1.00 (GM 92.60% / 92.48%) |
| AQI: 0.71 (AQ_t 0.19 / AQ_t-1 0.26) |
| SGI: 1.22 (Revenue 1.22b / 997.9m) |
| TATA: -0.06 (NI 185.1m - CFO 249.6m) / TA 1.12b) |
| Beneish M = -3.12 (Cap -4..+1) = AA |
As of July 11, 2026, the stock is trading at SEK 238.60 with a total of 124,844 shares traded. Over the past week, the price has changed by +6.23%, over one month by +2.76%, over three months by +3.83% and over the past year by -20.25%.
Current recommended Stop Loss: 223.80 (which is 6.2% or 1.5 ATR below the current price).
Bonesupport Holding has no consensus analysts rating.
P/E Trailing = 80.8664
P/S = 12.0717
P/B = 15.6654
Revenue TTM = 1.22b SEK
EBIT TTM = 277.6m SEK
EBITDA TTM = 289.2m SEK
Long Term Debt = 4.20m SEK (from longTermDebtTotal, last fiscal year)
Short Term Debt = 16.1m SEK (from shortTermDebt, last quarter)
Debt = 14.1m SEK (from shortLongTermDebtTotal, last quarter) (leases 14.1m already included)
Net Debt = -441.2m SEK (calculated: Debt 14.1m - CCE 455.3m)
Enterprise Value = 14.2b SEK (14.7b + Debt 14.1m - CCE 455.3m)
Interest Coverage Ratio = 83.22 (Ebit TTM 277.6m / Interest Expense TTM 3.34m)
EV/FCF = 57.88x (Enterprise Value 14.2b / FCF TTM 245.8m)
FCF Yield = 1.73% (FCF TTM 245.8m / Enterprise Value 14.2b)
FCF Margin = 20.23% (FCF TTM 245.8m / Revenue TTM 1.22b)
Net Margin = 15.23% (Net Income TTM 185.1m / Revenue TTM 1.22b)
Gross Margin = 92.48% ((Revenue TTM 1.22b - Cost of Revenue TTM 91.4m) / Revenue TTM)
Gross Margin QoQ = 92.25% (prev 92.46%)
Tobins Q-Ratio = 12.72 (Enterprise Value 14.2b / Total Assets 1.12b)
Interest Expense / Debt = 23.66% (Interest Expense 3.34m / Debt 14.1m)
Taxrate = 27.25% (69.3m / 254.5m)
NOPAT = 202.0m (EBIT 277.6m * (1 - 27.25%))
Current Ratio = 5.13 (Total Current Assets 890.5m / Total Current Liabilities 173.5m)
Debt / Equity = 0.02 (Debt 14.1m / totalStockholderEquity, last quarter 938.9m)
Debt / EBITDA = -1.53 (Net Debt -441.2m / EBITDA 289.2m)
Debt / FCF = -1.79 (Net Debt -441.2m / FCF TTM 245.8m)
Total Stockholder Equity = 859.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 18.37% (Net Income 185.1m / Total Assets 1.12b)
RoE = 21.53% (Net Income TTM 185.1m / Total Stockholder Equity 859.7m)
RoCE = 32.14% (EBIT 277.6m / Capital Employed (Equity 859.7m + L.T.Debt 4.20m))
RoIC = 22.43% (NOPAT 202.0m / Invested Capital 900.6m)
WACC = 6.06% (E(14.7b)/V(14.7b) * Re(6.05%) + D(14.1m)/V(14.7b) * Rd(23.66%) * (1-Tc(0.27)))
Discount Rate = 6.05% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 46.67 | Cagr: 0.35%
[DCF] Terminal Value 77.97% ; FCFF base≈183.7m ; Y1≈210.6m ; Y5≈310.0m
[DCF] Fair Price = 77.97 (EV 4.66b - Net Debt -441.2m = Equity 5.11b / Shares 65.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: 98.58 | Revenue CAGR: 44.22% | SUE: -1.04 | # QB: -1
EPS current Quarter (2026-06-30): EPS=1.15 | Chg30d=-0.86% | Revisions=-25% | Analysts=1
EPS next Quarter (2026-09-30): EPS=1.41 | Chg30d=+6.02% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=4.72 | Chg30d=+0.43% | Revisions=+25% | GrowthEPS=+121.8% | GrowthRev=+27.5%
EPS next Year (2027-12-31): EPS=7.63 | Chg30d=-0.10% | Revisions=-17% | GrowthEPS=+61.5% | GrowthRev=+32.6%
[Analyst] Revisions Ratio: +0% (up=3, down=3)