Sartorius (SRT) AI Stock Analysis

• Market Cap: €14.61B
• Dividend Yield: 0.39%
• Average Volume (3M): 5.04K
• Price to Earnings (P/E): 84.7
• Beta (1Y): 1.39
• Revenue Growth: 5.82%
• EPS Growth: 59.90%
• Country: DE
• Employees: 13,573
• Sector: General
• Sector Strength: N/A
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 1.26
• Shares Outstanding: 37,440,000
• 10 Day Avg. Volume: 4,524
• 30 Day Avg. Volume: 5,035
• PEG Ratio: 1.32
• Price to Book (P/B): 6.31
• Price to Sales (P/S): 4.82
• P/FCF Ratio: 79.72
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: €188.00 ▼(-3.29% Downside)
• Action: Reiterated Date: 02/19/26
• Date: Action: Reiterated 02/19/26

The score is held back mainly by weakened cash generation and still-elevated leverage despite improved revenue and EBIT trends. Technical indicators also show soft momentum (negative MACD, RSI below 50). Valuation further pressures the score due to a high P/E and minimal dividend yield.

Positive Factors

Recurring consumables and long-term partnerships

Recurring consumables and entrenched partnerships create predictable, annuity-like revenue. This reduces revenue cyclicality, supports steady aftermarket margins, and raises customer switching costs, providing durable topline visibility and recurring cash flow potential over the next 2–6 months and beyond.

2025 revenue rebound and improved EBIT margin

A strong revenue recovery combined with meaningful operating margin expansion signals operational leverage and improving demand for core bioprocess products. Sustained higher EBIT margins enhance internal funding capacity for R&D and capex, supporting long-term competitiveness and product development.

Large asset base with improving leverage trend

A sizable asset base underpins capacity to serve large biopharma customers and supports product & service scale. The reduction in leverage from 2023 shows de-risking; ongoing balance-sheet repair increases financial flexibility for strategic investments and reduces refinancing risk over the medium term.

Negative Factors

Elevated leverage remains material

Despite improvement, leverage remains elevated for a medical-instruments business and constrains flexibility. High debt increases interest and refinancing risk, limiting capacity for acquisitions or shareholder returns if operating performance weakens or macro rates rise, posing a structural headwind.

Weakened cash generation and lower free cash flow

Material declines in operating cash and FCF reduce the company's ability to self-fund growth, pay down debt, or increase returns. Persistent weaker cash conversion suggests working-capital drag or higher reinvestment needs, raising the risk profile and limiting strategic optionality over the medium term.

Compressed net margin and earnings volatility

Large gap between improved EBIT and weak net margin points to significant below‑the‑line charges, financing costs or tax impacts. This undermines sustainable profitability and cash conversion, making earnings less predictable and reducing the durability of free cash flows for creditors and investors.

Sartorius Business Overview & Revenue Model

Company Description

Sartorius Aktiengesellschaft provides bioprocess solutions and lab products and services worldwide. The company offers biosensors and kits, compliance tools, systems software, label-free detection systems, and SPR systems; live-cell analysis systems, flow cytometry platform, and cell analysis reagents and consumables; and antibody and recombinant protein media, viral vaccines media, regenerative medicine media, general media, downstream buffer, microcarrier, and stem cell media and reagent products, as well as strong acids, bases, and alcohols and detergents. It also provides multi-parallel bioreactors, benchtop bioreactors, single-use bioreactors, stainless steel bioreactors, cell culture bioreactors, microbial bioreactors, and software apps for bioreactors; membranes, blotting products, filter papers, glass and quartz microfibre products, and filtration equipment; syringe filters; and filtration devices, ultrafiltration devices, sterile filtration devices, harvesting devices, analytical sample prep systems, buffer exchange systems, diagnostic sample prep systems, particle analysis systems, pharmaceutical filtration systems, protein DNA concentration systems, venting moisture barriers, clarification systems, buffer and media products, and membrane chromatography products. In addition, the company offers process filtration products; process filtration products; process chromatography products; fluid management products; process analytical technology and data analytics; industrial microbiology systems; water purification systems; weighing systems; pipetting and dispensing systems; OEM systems; and centrifuges. Further, it provides bioprocess development and engineering, protein expression system, media and process, testing, instrument, and validation services. It serves the life science research, biopharmaceutical manufacturing, quality control and testing, and applied industries. The company was founded in 1870 and is headquartered in Göttingen, Germany.

How the Company Makes Money

Sartorius generates revenue through several key streams, primarily focused on the sale of laboratory and bioprocess equipment, consumables, and services. The company sells products such as balances, pipettes, filtration systems, and bioreactors, which are essential in laboratory and manufacturing settings. A significant portion of Sartorius's revenue comes from recurring sales of consumables, which are used in ongoing laboratory procedures and biopharmaceutical manufacturing. Additionally, Sartorius benefits from long-term partnerships with major pharmaceutical companies and research institutions, which often involve customized solutions and services, further enhancing their revenue. The company's focus on innovation and strategic acquisitions also plays a crucial role in expanding its product offerings and market reach, contributing to overall earnings growth.

Sartorius Financial Statement Overview

Summary

Financials are improving but constrained: revenue rebounded strongly in 2025 and EBIT margin improved, but net margin remains thin (~4.4%), leverage is still elevated (debt-to-equity ~1.65), and cash conversion deteriorated with free cash flow down materially year over year.

Income Statement

Revenue rebounded sharply in 2025 (annual revenue growth ~59% to €3.54B), and operating profitability improved versus 2024 (EBIT margin ~18% vs ~11%). However, net profitability remains pressured: net margin was only ~4.4% in 2025, well below 2021–2023 levels and far below the 2022 peak (~21.9%), indicating higher costs/charges below the operating line and more volatile earnings quality.

Balance Sheet

The balance sheet is functional but levered. Total debt is high at ~€4.45B versus equity of ~€2.71B (debt-to-equity ~1.65 in 2025). Leverage has improved from 2023 (debt-to-equity ~2.57) but remains elevated for a med-tech tools business, reducing flexibility if profitability stays compressed; asset base is sizable (~€9.72B), but equity cushioning is only moderate relative to debt.

Cash Flow

Cash generation weakened materially in 2025: operating cash flow fell to ~€656M (from ~€976M in 2024) and free cash flow dropped to ~€214M (down ~35% year over year). Free cash flow covered only ~33% of net income in 2025, and operating cash flow coverage also declined versus 2024, pointing to less efficient cash conversion and higher reinvestment/working-capital drag despite improved operating margins.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.54B	3.38B	3.40B	4.17B	3.45B
Gross Profit	1.64B	1.52B	1.57B	2.20B	1.84B
EBITDA	1.07B	786.80M	873.10M	1.50B	945.12M
Net Income	154.90M	84.00M	205.20M	913.10M	426.98M
Balance Sheet
Total Assets	9.72B	10.10B	9.76B	6.98B	5.70B
Cash, Cash Equivalents and Short-Term Investments	541.40M	828.70M	394.20M	196.80M	360.99M
Total Debt	4.45B	4.56B	5.31B	2.54B	2.08B
Total Liabilities	5.85B	6.21B	7.00B	4.32B	3.98B
Stockholders Equity	2.71B	2.76B	2.07B	1.99B	1.26B
Cash Flow
Free Cash Flow	214.10M	566.30M	293.90M	211.60M	458.65M
Operating Cash Flow	656.00M	976.20M	853.60M	734.20M	865.81M
Investing Cash Flow	-513.50M	-425.80M	-2.82B	-1.13B	-569.61M
Financing Cash Flow	-410.60M	-128.30M	2.17B	209.90M	-165.18M

Sartorius Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 194.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:SRT, the sentiment is Positive. The current price of 194.4 is above the 20-day moving average (MA) of 189.08, above the 50-day MA of 192.59, and above the 200-day MA of 177.88, indicating a bullish trend. The MACD of -1.43 indicates Negative momentum. The RSI at 57.14 is Neutral, neither overbought nor oversold. The STOCH value of 96.52 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:SRT.

Sartorius Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MRK	76 Outperform	€55.89B	18.91	10.32%	1.82%	1.47%	9.64%
AFX	65 Neutral	€2.43B	16.85	6.79%	1.50%	7.82%	-19.80%
FME	64 Neutral	€11.74B	16.47	5.41%	3.54%	2.10%	9.19%
FRE	62 Neutral	€28.89B	25.53	7.50%	2.05%	0.63%	―
SHL	58 Neutral	€46.31B	21.94	11.45%	2.13%	4.53%	10.12%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
SRT	48 Neutral	€14.61B	84.69	5.01%	0.39%	5.82%	59.90%