Almirall (ALM) AI Stock Analysis

• Market Cap: €2.30B
• Dividend Yield: 1.48%
• Average Volume (3M): 109.35K
• Price to Earnings (P/E): 222.9
• Beta (1Y): 0.47
• Revenue Growth: 10.20%
• EPS Growth: N/A
• Country: ES
• Employees: 2,026
• Sector: Healthcare
• Sector Strength: 37
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): N/A
• Shares Outstanding: 214,785,200
• 10 Day Avg. Volume: 95,148
• 30 Day Avg. Volume: 109,346
• PEG Ratio: 0.74
• Price to Book (P/B): 1.53
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -21.90
• 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: €11.95
• Price Target Upside: 12.95% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

• Rating: 52 Neutral
• Price Target: €11.50 ▲(8.70%Upside)

Almirall's overall score reflects its solid financial performance with strong revenue growth and a robust balance sheet, but challenges in free cash flow sustainability are a concern. The technical analysis is favorable, indicating strong market momentum. However, the high P/E ratio suggests overvaluation, which tempers the overall score.

Almirall Business Overview & Revenue Model

Company Description

Almirall, S.A., a biopharmaceutical company, engages in the research, development, manufacture, and sale of skin-health related medicines in Europe, the United States, and internationally. The company offers its products for dermatological diseases comprising actinic keratosis, atopic dermatitis, androgenic alopecia, psoriasis, onychomycosis, oncodermatology, acne, and orphan indications, as well as for cardiovascular, musculo-skeletal, respiratory, and nervous system; alimentary tract and metabolism; antiinfectives for systemic use; genito urinary system and sex hormones; immunostimulants; and systematic hormonal preparations. Its products include Ilumetri, Solaraze, Actikerall, Ciclopoli, Skilarence, Aczone, Decoderm, Cordran Tape, Azelex, Klisyri, Tazorac, Seysara, Veltin, Almax, Ebastel, Sativex, Crestor, and Efficib/Tesavel. Almirall, S.A. has collaboration and partnership agreements with Tyris Therapeutics, BIOMAP, the University of Dundee, Kaken Pharmaceutical Co Ltd., Ichnos Sciences Inc., the University Carlos III Madrid and MEDINA Foundation, 23andMe, Inc., HitGen Ltd., WuXi Biologics, Eli Lilly and Company, and Athenex, Inc. The company was formerly known as Laboratorios Almirall, S.A. and changed its name to Almirall, S.A. in May 2009. Almirall, S.A. was founded in 1943 and is headquartered in Barcelona, Spain.

How the Company Makes Money

Almirall generates revenue through the sale of its pharmaceutical products, primarily in the dermatology sector. The company's revenue model is based on the development and commercialization of proprietary medications, which are sold directly to healthcare providers, pharmacies, and distributors. A significant portion of Almirall's income comes from its strong portfolio of dermatology products, which are marketed globally. Additionally, Almirall enters into strategic partnerships and licensing agreements to expand its product offerings and reach new markets. These collaborations can provide milestone payments and royalties that contribute to the company's earnings. Furthermore, Almirall invests in research and development to innovate and launch new products, aiming to maintain a competitive edge and drive sales growth.

Almirall Financial Statement Overview

Summary

Almirall exhibits solid revenue growth and improving profitability, with a strong balance sheet indicating financial stability and moderate leverage. However, challenges remain in sustaining free cash flow due to significant capital expenditures.

Income Statement

Almirall's revenue has shown modest growth over recent years. Gross profit margins are healthy, but net profit margins have been inconsistent with recent years showing a return to profitability. EBIT and EBITDA margins show improvement, indicating operational efficiencies, but variability suggests challenges in maintaining consistent profitability.

Balance Sheet

The balance sheet reflects a sound equity position, with a reasonable debt-to-equity ratio suggesting manageable leverage. Return on Equity shows improvement, aligning with the recent profitability uptick. Almirall's equity ratio is robust, indicating strong financial stability and a well-capitalized company.

Cash Flow

Operating cash flows are positive and growing, but free cash flow remains negative due to significant capital expenditures. The operating cash flow to net income ratio indicates efficient cash generation relative to earnings, but consistent negative free cash flow poses a risk if not addressed.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	985.72M	894.52M	863.25M	827.20M	1.61B
Gross Profit	767.68M	577.12M	680.78M	655.61M	1.44B
EBITDA	173.80M	122.51M	165.07M	132.34M	220.87M
Net Income	10.15M	-38.47M	4.28M	-40.86M	74.28M
Balance Sheet
Total Assets	2.40B	2.37B	2.15B	2.14B	2.29B
Cash, Cash Equivalents and Short-Term Investments	377.30M	388.09M	248.82M	207.39M	165.67M
Total Debt	408.81M	403.25M	403.88M	396.11M	496.98M
Total Liabilities	908.28M	911.59M	828.98M	855.71M	988.15M
Stockholders Equity	1.49B	1.46B	1.32B	1.29B	1.30B
Cash Flow
Free Cash Flow	-664.00K	-65.82M	38.62M	162.70M	88.24M
Operating Cash Flow	160.77M	93.48M	155.10M	233.85M	164.76M
Investing Cash Flow	-140.04M	-122.56M	-68.54M	-57.26M	-75.52M
Financing Cash Flow	-31.58M	168.21M	-45.12M	-134.88M	-40.87M

Almirall Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 10.58
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:ALM, the sentiment is Negative. The current price of 10.58 is below the 20-day moving average (MA) of 10.74, below the 50-day MA of 10.77, and above the 200-day MA of 9.44, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 43.01 is Neutral, neither overbought nor oversold. The STOCH value of 29.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ES:ALM.

Almirall Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALM	52 Neutral	€2.30B	222.92	0.69%	1.48%	10.20%	―
Sector *	47 Neutral	C$200.31M	-3.37	-23.14%	1.85%	20.75%	-0.36%
0K9H	―	€1.43B	12.81	16.04%	3.88%	―	―
0RDV	―	€7.28B	29.71	3.37%	―	―	―
0RB1	―	€243.38M	22.19	5.11%	1.61%	―	―
0ILL	―	€2.67B	19.45	25.24%	1.43%	―	―
PHMMF	―	$1.66B	76.28	10.15%	1.00%	―	―

Almirall Corporate Events

Almirall Completes Capital Increase to Enhance Market Position

Almirall has completed a capital increase as part of its flexible dividend system, resulting in the issuance of 1,316,480 new shares. This move reflects a strategic effort to enhance shareholder value and strengthen its market position, with the new shares expected to begin trading on major Spanish stock exchanges by June 11, 2025.

The most recent analyst rating on (ES:ALM) stock is a Buy with a EUR17.00 price target. To see the full list of analyst forecasts on Almirall stock, see the ES:ALM Stock Forecast page.

Almirall Introduces Flexible Dividend System to Enhance Shareholder Value

Almirall has announced a flexible dividend system, approved during the Ordinary General Shareholders’ Meeting, which allows shareholders to receive dividends in cash or shares. This strategic move is expected to enhance shareholder value and provide flexibility, potentially impacting the company’s market positioning positively.

Almirall to Present Q1 2025 Financial Results in Webcast

Almirall announced it will hold a webcast to present and discuss its first quarter 2025 financial results with analysts and institutional investors. This event reflects Almirall’s commitment to transparency and engagement with stakeholders, potentially impacting investor confidence and market perception.

Almirall Strengthens Leadership and Announces Capital Increase

Almirall’s Board of Directors has re-elected key members to its leadership and committees following its Ordinary General Meeting. This includes the re-election of Carlos Gallardo Piqué as Chairman and CEO, along with other strategic appointments, which are expected to strengthen the company’s governance and operational continuity. Additionally, the company announced a capital increase to support its flexible dividend system, indicating a commitment to shareholder returns and financial stability.