Boiron SA (BOI) AI Stock Analysis

• Market Cap: €459.86M
• Dividend Yield: 3.95%
• Average Volume (3M): 4.19K
• Price to Earnings (P/E): 8.6
• Beta (1Y): 0.21
• Revenue Growth: 4.80%
• EPS Growth: -18.25%
• Country: FR
• Employees: 2,469
• Sector: General
• Sector Strength: N/A
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): 0.65
• Shares Outstanding: 17,545,408
• 10 Day Avg. Volume: 1,557
• 30 Day Avg. Volume: 4,187
• PEG Ratio: -0.60
• Price to Book (P/B): 1.23
• Price to Sales (P/S): 0.95
• P/FCF Ratio: 13.78
• 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): 2.06
• Revenue Forecast (FY): €522.29M

• Rating: 69 Neutral
• Price Target: €33.00 ▲(8.55% Upside)
• Action: Reiterated Date: 10/23/25
• Date: Action: Reiterated 10/23/25

Boiron SA's overall stock score is driven by strong technical momentum and a stable financial position, despite challenges in revenue growth and profitability. The valuation suggests potential overvaluation, but the dividend yield offers some appeal.

Positive Factors

Balance sheet strength

Very low leverage and a robust equity ratio provide durable financial flexibility. This reduces refinancing risk, supports continued R&D and capex spending, and allows the firm to sustain distributions or absorb shocks without materially increasing financial stress over the medium term.

Global brand & distribution

Longstanding global presence and established distribution into pharmacies, health stores and practitioners create a durable commercial moat. Geographic and channel diversification smooths demand swings, supports recurring OTC sales, and helps sustain revenue base over multiple years.

Stable gross margins & cash generation

Stable gross margins alongside positive EBIT/EBITDA margins and a historically healthy free cash flow to net income ratio indicate the business generates cash from operations. This supports reinvestment, modest shareholder returns, and resilience versus cyclical pressures over the medium term.

Negative Factors

Declining revenue trend

A multiyear revenue decline reduces scale and erodes top-line momentum, limiting the company’s ability to leverage fixed costs. Persistent shrinkage can constrain long-term investment in innovation and marketing, weakening competitive position in key markets.

Eroding profitability margins

Falling net and operating margins suggest structural pressure on profitability, whether from pricing, higher costs, or mix shifts. Sustained margin erosion undermines free cash flow generation and reduces capacity to fund R&D or defend market share over the medium term.

Asset and cash-flow deterioration

Declines in equity and total assets alongside reported reductions in operating cash flow and free cash flow growth signal weakening balance-sheet dynamics. This trend can limit strategic flexibility and heighten vulnerability to prolonged industry headwinds over several quarters.

Boiron SA Business Overview & Revenue Model

Company Description

Boiron SA manufactures and sells homeopathic medicines in France, rest of Europe, North America, and internationally. The company offers non-proprietary, proprietary, branded homeopathic medicines. Its branded homeopathic medicines include Oscillococcinum to treat influenza symptoms, such as fever, chills, headaches, and aches; Stodal and Stodaline for treating coughs; Arnigel for adjunctive local treatment of benign trauma in the absence of open wounds; Camilia for the treatment of teething problems for babies; and Sédatif PC to treat anxiety and emotional, and minor sleep disorders. The company's homeopathic medicines also comprise Coryzalia for the treatment of cold symptoms and rhinitis; Homéoptic to treat eye discomfort and irritation due to various causes for adults and children; and Homéovox for vocal disorders. In addition, it provides dietary supplement; Dermoplasmine stick, baume, and mousse to treat dry lips and skin; Mag' Nuit, a formula to fall asleep; Arnitrosium for joint pain; Castor Equi Boiron ointment for treatment of cracked skin; and Storinyl, a syrup to treat colds. Further, it offers herbal medicines, such as Canephron to increase the amount of urine and to improve urinary elimination; moisturizing baby milk; and medical devices, including a range of COVID self-tests and rapid antigenic tests. The company offers its products through distribution centers, pharmacies, pharmacy chains, wholesalers, grocery and drugstores, health food stores, and online retail. Boiron SA was founded in 1932 and is headquartered in Messimy, France.

How the Company Makes Money

Boiron generates revenue primarily through the sale of its homeopathic products, which are distributed to pharmacies, health food stores, and healthcare practitioners. The company operates in various segments, including over-the-counter (OTC) homeopathic medicines and prescription homeopathic products. Key revenue streams include direct sales to consumers, wholesale distribution to retailers, and partnerships with healthcare providers that endorse or recommend its products. Boiron also benefits from brand loyalty and recognition in the homeopathy sector, which helps maintain a steady customer base. Additionally, the company's investment in research and development allows it to innovate and expand its product offerings, contributing to its overall financial performance.

Boiron SA Financial Statement Overview

Summary

Boiron SA exhibits strong balance sheet stability with low leverage, but faces challenges in revenue growth and maintaining profit margins. Cash flow generation is relatively strong, though declining trends need attention.

Income Statement

Boiron SA's income statement shows a decline in total revenue from 2022 to 2024, dropping from €534.2M to €487.6M. The gross profit margin has remained relatively stable, while the net profit margin shows a significant decrease due to declining net income. The company has maintained positive EBIT and EBITDA margins, though both have decreased over the past few years, indicating a reduction in operational efficiency. Overall, the company is facing challenges in maintaining its top-line growth and profitability.

Balance Sheet

The balance sheet of Boiron SA indicates a strong equity position with a debt-to-equity ratio that is very low, showcasing financial stability and low leverage risk. The equity ratio is robust, reflecting good asset management and financial health. However, the declining trend in stockholders' equity and total assets since 2022 suggests potential challenges in asset growth and equity retention.

Cash Flow

Boiron SA's cash flow statement reveals a slight decline in free cash flow over recent years, with a noticeable decrease in both operating cash flow and capital expenditures. The free cash flow to net income ratio remains healthy, indicating strong cash generation relative to profit. However, declining trends in free cash flow growth rate highlight potential concerns in sustaining cash flow levels in the future.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	504.86M	487.56M	493.25M	534.24M	455.20M	513.58M
Gross Profit	372.12M	358.76M	358.08M	379.73M	327.62M	394.74M
EBITDA	56.24M	45.46M	73.67M	91.33M	78.75M	68.91M
Net Income	19.37M	11.34M	35.83M	44.67M	28.56M	26.21M
Balance Sheet
Total Assets	561.59M	576.33M	590.20M	789.49M	770.70M	781.82M
Cash, Cash Equivalents and Short-Term Investments	62.45M	64.71M	74.04M	250.94M	234.50M	234.69M
Total Debt	18.10M	14.97M	13.70M	22.17M	12.61M	12.43M
Total Liabilities	192.47M	198.15M	198.70M	232.15M	238.93M	272.65M
Stockholders Equity	369.10M	378.14M	393.66M	557.62M	531.74M	509.14M
Cash Flow
Free Cash Flow	47.88M	33.77M	27.47M	41.51M	13.46M	47.98M
Operating Cash Flow	55.80M	42.17M	45.49M	60.10M	33.88M	68.68M
Investing Cash Flow	-16.28M	-18.36M	-22.93M	-15.28M	-11.92M	-19.34M
Financing Cash Flow	-26.69M	-27.85M	-198.41M	-28.99M	-22.00M	-21.52M

Boiron SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 30.40
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:BOI, the sentiment is Negative. The current price of 30.4 is above the 20-day moving average (MA) of 27.60, above the 50-day MA of 29.08, and above the 200-day MA of 26.10, indicating a neutral trend. The MACD of -0.70 indicates Negative momentum. The RSI at 37.88 is Neutral, neither overbought nor oversold. The STOCH value of 66.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:BOI.

Boiron SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VETO	72 Outperform	€943.73M	8.71	10.49%	1.06%	-0.95%	27.67%
BOI	69 Neutral	€459.86M	8.56	5.18%	3.95%	4.80%	-18.25%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
ABVX	53 Neutral	€7.62B	-1.04	―	―	―	18.52%
MEDCL	49 Neutral	€791.98M	-12.22	―	―	166.31%	43.80%
IVA	47 Neutral	€1.15B	-0.41	―	―	-12.84%	-81.94%
AB	40 Neutral	€84.19M	-4.03	―	―	-5.08%	-88.04%