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Ypsomed Holding AG (CH:YPSN)
LSE:YPSN
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Ypsomed Holding AG
(LSE:YPSN)
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Rating:70Outperform
Price Target:
CHF356.00
▲(15.77% Upside)
Ypsomed Holding AG's overall stock score is driven by strong financial performance and positive earnings call sentiment, offset by technical analysis indicating potential short-term weakness and a high valuation. Strategic expansions and innovation provide a positive long-term outlook, but cash flow management remains a concern.
Positive Factors
Revenue Growth
Strong revenue growth in the core business indicates increasing market demand and successful product adoption, supporting long-term expansion.
Strategic Expansion
Expansion into new facilities globally enhances production capacity and market reach, positioning Ypsomed for sustained growth and competitive advantage.
Innovation in Sustainable Devices
Innovations in sustainable devices align with global trends towards eco-friendly products, potentially increasing customer loyalty and market share.
Negative Factors
Negative Free Cash Flow
Negative free cash flow due to high capital expenditures could strain financial resources, impacting the ability to fund future growth initiatives.
Diabetes Care Business Loss
Losses in the Diabetes Care segment may indicate challenges in this market, potentially affecting overall profitability and strategic focus.
Impact of Contract Manufacturing Phaseout
The phaseout of contract manufacturing could lead to a significant revenue decline, necessitating strategic adjustments to mitigate impact.
Ypsomed Holding AG (YPSN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF4.76B
Dividend Yield0.67%
Average Volume (3M)17.31K
Price to Earnings (P/E)24.6
Beta (1Y)0.71
Revenue Growth27.63%
EPS Growth160.67%
CountryCH
Employees2,600
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)10.19
Shares Outstanding13,649,739
10 Day Avg. Volume12,508
30 Day Avg. Volume17,306
Financial Highlights & Ratios
PEG Ratio4.54
Price to Book (P/B)6.82
Price to Sales (P/S)6.19
P/FCF Ratio-35.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF415.00Price Target Upside34.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Ypsomed Holding AG Business Overview & Revenue Model
Company DescriptionYpsomed Holding AG (YPSN) is a leading Swiss company specializing in the development and manufacturing of injection and infusion systems for self-medication. The company operates primarily in the healthcare sector, focusing on innovative delivery systems for biologics and other pharmaceuticals. Ypsomed's core products include pen systems for insulin and other medications, as well as wearable infusion systems and other medical devices aimed at enhancing patient care and improving treatment adherence.
How the Company Makes MoneyYpsomed generates revenue through several key streams, including the sale of injection and infusion systems to pharmaceutical companies and healthcare providers. The company collaborates with major pharmaceutical firms to develop customized delivery systems, often resulting in long-term contracts that provide stable revenue. Additionally, Ypsomed earns income from its proprietary products, including prefilled pens and infusion devices, which are sold directly to patients or through healthcare systems. The company also benefits from partnerships with various industry players, enhancing its market reach and driving sales growth through the introduction of new technologies and solutions in self-medication.
Ypsomed Holding AG Earnings Call Summary
Earnings Call Date:Nov 12, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:May 27, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong financial performance and strategic expansions in capacity and innovation. Despite some challenges in specific segments and the impact of phaseouts, the overall outlook remains positive.Q2-2026 Updates
Positive Updates
Strong Revenue Growth
Ypsomed reported sales of CHF 363 million in the first half year, with the core business growing by 21% from CHF 220 million to CHF 267 million.
Robust EBIT Margin
The company achieved an EBIT of CHF 152 million, with the Delivery Systems business showing an EBIT margin of 32.4%.
FDA Approval for Digital Device
Ypsomed received FDA approval for a digital device to support clinical trials, marking a significant innovation achievement.
Expansion Plans
Ypsomed is expanding its capacity to 1 billion devices by the end of the decade, with new facilities in China, Germany, and the U.S.
Sustainable Device Innovation
Ypsomed launched new platforms YpsoDot, YpsoFlow, and YpsoLoop, focusing on recyclable and sustainable devices.
Negative Updates
Flat Growth in Pen Segment
The pen business experienced flat growth due to product and customer mix, impacting overall segment performance.
Diabetes Care Business Loss
The Diabetes Care business made a loss of CHF 5 million in the four months it was consolidated in the P&L.
Impact of Contract Manufacturing Phaseout
The phaseout of contract manufacturing is expected to reduce sales by CHF 20-30 million in the next fiscal year.
Company Guidance
During the Ypsomed Half Year Results 2025-2026 Earnings Conference call, the company provided several key financial metrics and guidance for the fiscal year. Ypsomed reported first-half sales of CHF 363 million, with the Delivery Systems business contributing CHF 267 million and experiencing a 21% year-over-year growth. The company achieved an EBIT of CHF 152 million, noting a strong 32.4% EBIT margin in the Delivery Systems segment. Ypsomed maintains a robust financial position with an equity ratio of around 67% and a net debt-to-EBITDA ratio of 0.3x. Looking forward, Ypsomed confirmed its guidance for the fiscal year with an expected 20% growth in Delivery Systems sales and an EBIT range of CHF 190 million to CHF 210 million. Midterm ambitions include doubling sales to CHF 900 million to CHF 1.2 billion and achieving an EBIT between CHF 280 million and CHF 340 million, maintaining an EBIT margin above 30%. The company also plans to triple its device capacity to 1 billion units by the end of the decade, supported by CHF 1.5 billion in growth CapEx and customer co-investments.Ypsomed Holding AG Financial Statement Overview
Summary
Ypsomed Holding AG shows strong revenue growth and profitability, with effective cost management and operational efficiency. The balance sheet is healthy with a solid ROE, but negative Free Cash Flow due to high capital expenditures presents a risk.Income Statement
Ypsomed Holding AG has demonstrated notable revenue growth, with Total Revenue increasing from CHF 548.5 million in 2024 to CHF 748.9 million in 2025, representing a growth rate of 36.54%. The company's Gross Profit Margin is robust at 39.00%, and the Net Profit Margin is healthy at 11.69%, reflecting strong profitability. EBIT and EBITDA Margins are also solid at 15.08% and 25.49%, respectively, indicating effective cost management and operational efficiency.82
Very Positive
Balance Sheet
The company's Debt-to-Equity Ratio is 0.39, which indicates a reasonable level of leverage. The Return on Equity (ROE) is strong at 12.88%, showcasing effective utilization of shareholder funds. The Equity Ratio stands at 51.08%, highlighting a balanced capital structure with a significant portion funded by equity, contributing to financial stability.75
Positive
Cash Flow
Ypsomed Holding AG's Free Cash Flow is negative at CHF -128.9 million, primarily due to high capital expenditures. However, the Operating Cash Flow to Net Income Ratio is favorable at 1.69, suggesting that the company's operations are generating sufficient cash relative to its net income. The Free Cash Flow to Net Income Ratio is negative, indicating challenges in converting net income into free cash flow, which might be a concern if sustained.68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 787.55M | 748.87M | 548.46M | 497.46M | 464.84M | 403.66M |
| Gross Profit | 324.84M | 292.07M | 189.05M | 140.59M | 113.82M | 94.83M |
| EBITDA | 275.02M | 190.90M | 161.56M | 137.51M | 96.66M | 65.19M |
| Net Income | 194.00M | 87.50M | 78.37M | 51.27M | 23.11M | 5.81M |
Balance Sheet | ||||||
| Total Assets | 1.21B | 1.33B | 1.10B | 861.88M | 756.91M | 717.68M |
| Cash, Cash Equivalents and Short-Term Investments | 36.30M | 36.49M | 74.02M | 25.22M | 17.04M | 22.41M |
| Total Debt | 110.00M | 267.00M | 256.00M | 157.00M | 267.00M | 215.00M |
| Total Liabilities | 401.49M | 650.66M | 483.66M | 299.55M | 364.37M | 322.30M |
| Stockholders Equity | 807.19M | 679.68M | 617.73M | 562.33M | 392.54M | 395.38M |
Cash Flow | ||||||
| Free Cash Flow | -21.70M | -128.95M | -32.09M | -39.64M | -41.72M | -40.75M |
| Operating Cash Flow | 211.68M | 148.20M | 163.22M | 129.53M | 85.71M | 85.83M |
| Investing Cash Flow | -49.81M | -267.27M | -195.07M | -122.02M | -125.70M | -106.91M |
| Financing Cash Flow | -226.30M | 82.25M | 81.07M | 1.26M | 38.12M | 26.67M |
Ypsomed Holding AG Technical Analysis
Neutral
307.50
Price Trends
323.69
Positive
343.40
Negative
361.67
Negative
Market Momentum
4.95
Negative
55.27
Neutral
78.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:YPSN, the sentiment is Neutral. The current price of 307.5 is below the 20-day moving average (MA) of 327.03, below the 50-day MA of 323.69, and below the 200-day MA of 361.67, indicating a neutral trend. The MACD of 4.95 indicates Negative momentum. The RSI at 55.27 is Neutral, neither overbought nor oversold. The STOCH value of 78.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CH:YPSN.
Ypsomed Holding AG Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | CHF31.85B | 35.07 | 4.82% | 0.44% | 0.39% | -12.46% | |
71 Outperform | CHF3.30B | 36.75 | 23.83% | 0.45% | 16.59% | 65.76% | |
70 Outperform | CHF4.76B | 24.58 | 27.15% | 0.67% | 27.63% | 160.67% | |
70 Outperform | CHF4.85B | 25.20 | ― | 2.36% | 5.84% | 8.57% | |
65 Neutral | CHF1.98B | 31.21 | 4.57% | 2.31% | -9.34% | -37.50% | |
63 Neutral | CHF3.87B | 24.34 | 15.79% | 0.51% | 0.77% | 16.70% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.