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Almirall SA (ES:ALM)
:ALM

Almirall (ALM) AI Stock Analysis

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Almirall

(LSE:ALM)

Rating:64Neutral
Price Target:
€11.50
▲(8.08%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 (ALM) vs. iShares MSCI Spain ETF (EWP)

Almirall Business Overview & Revenue Model

Company DescriptionAlmirall (ALM) is a global pharmaceutical company based in Barcelona, Spain. It focuses on the research, development, manufacture, and marketing of proprietary medicines and medical devices. The company primarily operates in the dermatology sector, with a strong emphasis on skin health and medical dermatology, including treatments for conditions such as psoriasis, atopic dermatitis, and acne. Almirall also has a presence in other therapeutic areas, including respiratory, gastrointestinal, and central nervous system disorders.
How the Company Makes MoneyAlmirall generates revenue primarily through the sale of its pharmaceutical products, with a significant portion coming from its dermatology portfolio. The company invests in research and development to create innovative treatments, which are then marketed and sold globally. Almirall also earns income through partnerships and licensing agreements with other pharmaceutical companies, allowing them to expand their market reach and product offerings. Additionally, the company may receive milestone payments and royalties from these partnerships. Almirall's strategic focus on dermatology, coupled with its global distribution network, enables it to maintain a steady stream of revenue.

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
60
Neutral
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
75
Positive
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
50
Neutral
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.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue985.72M894.52M863.25M827.20M1.61B
Gross Profit767.68M577.12M680.78M655.61M1.44B
EBITDA173.80M122.51M165.07M132.34M220.87M
Net Income10.15M-38.47M4.28M-40.86M74.28M
Balance Sheet
Total Assets2.40B2.37B2.15B2.14B2.29B
Cash, Cash Equivalents and Short-Term Investments377.30M388.09M248.82M207.39M165.67M
Total Debt408.81M403.25M403.88M396.11M496.98M
Total Liabilities908.28M911.59M828.98M855.71M988.15M
Stockholders Equity1.49B1.46B1.32B1.29B1.30B
Cash Flow
Free Cash Flow-664.00K-65.82M38.62M162.70M88.24M
Operating Cash Flow160.77M93.48M155.10M233.85M164.76M
Investing Cash Flow-140.04M-122.56M-68.54M-57.26M-75.52M
Financing Cash Flow-31.58M168.21M-45.12M-134.88M-40.87M

Almirall Technical Analysis

Technical Analysis Sentiment
Positive
Last Price10.64
Price Trends
50DMA
10.44
Positive
100DMA
9.97
Positive
200DMA
9.26
Positive
Market Momentum
MACD
0.03
Positive
RSI
46.47
Neutral
STOCH
29.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:ALM, the sentiment is Positive. The current price of 10.64 is below the 20-day moving average (MA) of 10.92, above the 50-day MA of 10.44, and above the 200-day MA of 9.26, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 46.47 is Neutral, neither overbought nor oversold. The STOCH value of 29.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:ALM.

Almirall Peers Comparison

Overall Rating
UnderperformOutperform
Sector (66)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
ESFAE
80
Outperform
€1.41B12.6616.04%1.80%9.42%20.43%
72
Outperform
€2.80B20.2925.24%1.63%-1.49%4.04%
ESRJF
67
Neutral
€243.38M22.045.11%1.41%5.10%20.61%
66
Neutral
€1.73B33.758.73%1.75%7.10%103.68%
ESALM
64
Neutral
€2.28B221.670.69%1.48%10.20%
ESPHM
59
Neutral
$1.43B70.1910.15%1.01%8.39%947.08%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ES:ALM
Almirall
10.64
1.39
15.04%
ES:FAE
Faes Farma
4.53
1.08
31.19%
ES:RJF
LABORATORIO REIG JOFRE
2.98
0.32
11.86%
ES:ROVI
Laboratorios Farmaceuticos Rovi
55.30
-28.76
-34.21%
ES:PHM
Pharma Mar SA
79.30
47.04
145.82%

Almirall Corporate Events

Almirall Completes Capital Increase to Enhance Market Position
Jun 4, 2025

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
May 12, 2025

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
May 12, 2025

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
May 12, 2025

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.

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.Date of analysis: May 13, 2025