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STRATEC Biomedical
(XETRA:SBS)
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Rating:49Neutral
Price Target:
€20.00
▲(1.52% Upside)
Action:Reiterated
Date:05/14/26
The score is held back primarily by deteriorating financial performance (revenue decline, margin compression, and net losses) and weak technicals (price below key moving averages and negative MACD). These are partly offset by improving recent cash flow and confirmed guidance, plus a supportive dividend yield, but near-term execution risks (mix/consumables demand and elevated inventory) remain significant.
Positive Factors
OEM/ODM recurring revenue model
A core OEM/ODM model creates durable, contract-driven revenue from development fees and scalable series production. Long-term partner relationships and scope for aftermarket/consumables sales give structural recurring revenue potential that supports steadier medium-term cash flows and capacity planning.
Negative Factors
Multi-year revenue decline and margin compression
Sustained revenue declines and falling gross/operating margins impair scale economics and reduce internal funding for R&D and launches. A swing to net losses weakens return metrics, increases sensitivity to cost shocks, and makes achieving mid‑term margin targets more challenging without durable volume or mix improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
OEM/ODM recurring revenue model
A core OEM/ODM model creates durable, contract-driven revenue from development fees and scalable series production. Long-term partner relationships and scope for aftermarket/consumables sales give structural recurring revenue potential that supports steadier medium-term cash flows and capacity planning.
Read all positive factors
STRATEC Biomedical (SBS) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€237.28M
Dividend Yield3.07%
Average Volume (3M)15.55K
Price to Earnings (P/E)―
Beta (1Y)1.47
Revenue GrowthN/A
EPS GrowthN/A
CountryDE
Employees1,395
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.27
Shares Outstanding12,157,841
10 Day Avg. Volume11,323
30 Day Avg. Volume15,548
Financial Highlights & Ratios
PEG Ratio11.11
Price to Book (P/B)1.15
Price to Sales (P/S)1.09
P/FCF Ratio-28.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€28.00Price Target Upside42.13% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)1.39
Revenue Forecast (FY)€263.66M
STRATEC Biomedical Business Overview & Revenue Model
Company Description
Established in 1979 and headquartered in Birkenfeld, Germany, Stratec SE (previously known as STRATEC Biomedical AG until its name change in December 2018) specializes in the development and manufacturing of cutting-edge automation and instrumenta...
How the Company Makes Money
STRATEC Biomedical makes money mainly by designing, industrializing, and producing automated diagnostic and laboratory instrumentation for other companies under long-term OEM/ODM relationships. Key revenue streams typically include: (1) Developmen...
STRATEC Biomedical Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 14, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: Q1 showed material near-term weakness driven by an unfavorable product mix, lower high‑margin consumables and negative scaling effects that compressed margins. Offsetting this were strong cash generation (EUR 18.6m free cash flow), improved leverage, double-digit instrument growth, confirmed annual guidance (H2 weighted) and clear medium/long-term growth and margin targets. Key near-term risks remain the timing/firmness of consumables orders and elevated inventories/obsolescence. Overall the positives and negatives are balanced.Positive Updates
Revenue Reported for Q1 2026
Revenue of EUR 53.4 million in Q1 2026 (company stated figure).
Negative Updates
Quarterly Revenue Decline vs Prior Year
Revenue declined by 8.8% at constant currency and 11.5% on a nominal basis versus Q1 2025, reflecting a soft start to the year and tough comparables from 2025.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Reported for Q1 2026
Revenue of EUR 53.4 million in Q1 2026 (company stated figure).
Read all positive updates
Company Guidance
Management confirmed 2026 guidance after bottom‑up reviews: revenue is expected to grow in the medium‑ to high‑single‑digit percentage range (constant currency) with the year heavily H2‑weighted (Q2 slight pick‑up, Q4 strongest), EBIT is guided to be broadly flat with 2025 (~10% margin), and combined investments (tangible + intangible) are forecast at 6.5–8.5% of revenue; Q1 actuals were revenue €53.4m (‑8.8% cc, ‑11.5% nominal), adjusted EBIT €0.7m (1.3% margin), operating cash flow €21.5m and free cash flow €18.6m, with a Q1 capex ratio of 5.4% and leverage improved to 3.1x net debt/EBITDA LTM (from 3.3x); longer term the company targets 6–8% growth (2025–2028) and EBIT ≥13% by 2028 and ~15% by 2030, has short‑term inventory ambition below ~€330m (long‑term ~€200m) and says input‑cost increases and geopolitical effects have been partly factored into the plan.STRATEC Biomedical Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
63
Positive
Cash Flow
49
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 250.86M | 257.62M | 270.41M | 274.63M | 287.33M |
| Gross Profit | 64.22M | 76.39M | 68.16M | 79.49M | 87.71M |
| EBITDA | 27.19M | 47.34M | 43.16M | 57.53M | 66.52M |
| Net Income | -242.00K | 16.02M | 15.37M | 29.22M | 39.96M |
Balance Sheet | |||||
| Total Assets | 443.38M | 445.06M | 466.58M | 397.50M | 368.52M |
| Cash, Cash Equivalents and Short-Term Investments | 24.40M | 48.73M | 34.22M | 24.07M | 48.72M |
| Total Debt | 132.13M | 130.53M | 141.37M | 87.15M | 85.30M |
| Total Liabilities | 206.06M | 202.53M | 233.25M | 172.32M | 162.77M |
| Stockholders Equity | 237.32M | 242.53M | 233.33M | 225.18M | 205.76M |
Cash Flow | |||||
| Free Cash Flow | -9.71M | 30.52M | 2.00M | -8.74M | 43.24M |
| Operating Cash Flow | -433.00K | 48.71M | 19.43M | 10.28M | 63.47M |
| Investing Cash Flow | -16.80M | -15.97M | -44.16M | -19.00M | -20.13M |
| Financing Cash Flow | -6.30M | -20.30M | 35.44M | -14.11M | -34.33M |
STRATEC Biomedical Technical Analysis
Positive
19.70
Price Trends
18.08
Positive
17.73
Positive
19.54
Positive
Market Momentum
0.58
Negative
61.11
Neutral
55.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:SBS, the sentiment is Positive. The current price of 19.7 is above the 20-day moving average (MA) of 19.41, above the 50-day MA of 18.08, and above the 200-day MA of 19.54, indicating a bullish trend. The MACD of 0.58 indicates Negative momentum. The RSI at 61.11 is Neutral, neither overbought nor oversold. The STOCH value of 55.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:SBS.
STRATEC Biomedical Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | €1.79B | 14.45 | 9.79% | 2.82% | 6.37% | 71.55% | |
71 Outperform | €851.63M | 19.35 | 20.26% | 1.65% | 6.84% | 43.33% | |
70 Outperform | €41.13B | 18.62 | 11.59% | 2.85% | -0.92% | 2.06% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | €951.23M | -2.97 | -23.57% | 0.15% | 14.00% | -391.94% | |
49 Neutral | €237.28M | -72.30 | -1.37% | 3.05% | ― | ― |
* General Sector Average
DE:SBS
STRATEC Biomedical
20.25
-6.04
-22.98%
DE:DRW8
Draegerwerk AG & Co. KGaA
85.00
32.26
61.17%
DE:EUZ
Eckert & Ziegler Strahlen und Medizintechnik
13.50
-7.22
-34.84%
DE:SIS
First Sensor
52.50
-3.62
-6.46%
DE:GXI
Gerresheimer
27.78
-16.72
-37.57%
DE:SHL
Siemens Healthineers AG
39.11
-5.59
-12.50%
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.