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Getinge AB
(OTC:GNGBY)
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Rating:70Outperform
Price Target:
$24.00
▲(4.48% Upside)
Action:Upgraded
Date:04/22/26
The score is driven primarily by solid financial quality (manageable leverage and strong cash generation) and a balanced earnings-call outlook with reaffirmed growth guidance but meaningful near-term headwinds (FX/tariffs, quality costs, and limited margin visibility). Technicals are mixed with only moderate momentum, while valuation appears reasonable with a mid P/E and a modest dividend.
Positive Factors
Recurring Revenue Mix
A two‑thirds recurring revenue mix creates durable, predictable cash flows and higher effective margins versus one‑time equipment sales. This installed‑base driven model cushions cyclicality in hospital capital spending, supports margin stability, and enables profitable cross‑sell and service growth over multiple years.
Negative Factors
Elevated Quality‑Related Costs
Persistently high quality remediation costs materially depress margins and divert cash and management focus from growth initiatives. Even with a targeted reduction, multi‑year remediation schedules can compress returns on invested capital and slow margin recovery toward long‑term targets.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Revenue Mix
A two‑thirds recurring revenue mix creates durable, predictable cash flows and higher effective margins versus one‑time equipment sales. This installed‑base driven model cushions cyclicality in hospital capital spending, supports margin stability, and enables profitable cross‑sell and service growth over multiple years.
Read all positive factors
Getinge AB (GNGBY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.54B
Dividend Yield2.05%
Average Volume (3M)149.00
Price to Earnings (P/E)22.9
Beta (1Y)0.71
Revenue Growth8.24%
EPS Growth81.19%
CountryUS
Employees11,827
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)8.66
Shares Outstanding254,152,370
10 Day Avg. Volume133
30 Day Avg. Volume149
Financial Highlights & Ratios
PEG Ratio0.69
Price to Book (P/B)2.02
Price to Sales (P/S)1.70
P/FCF Ratio23.97
Enterprise Value/Market Cap10.76
Enterprise Value/Revenue1.76
Enterprise Value/Gross Profit3.86
Enterprise Value/Ebitda9.72
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Getinge AB Business Overview & Revenue Model
Company Description
Getinge AB (publ) is a prominent global medical technology provider, delivering comprehensive products and solutions primarily to operating rooms, intensive care units, and sterilization departments. The company operates through three distinct seg...
How the Company Makes Money
Getinge makes money primarily by selling medical technology products and related services across two main areas: (1) hospital-focused solutions and (2) life science solutions. Revenue is generated from: (a) capital equipment sales—larger-ticket sy...
Getinge AB Earnings Call Summary
Earnings Call Date:Apr 21, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 17, 2026
Earnings Call Sentiment Positive
The call presented a mix of constructive operational and financial developments — organic sales growth, stronger order intake, important product approvals (Cardiohelp II CE) and solid cash/financial metrics — alongside material near-term headwinds from currency and tariffs, continued elevated quality-related costs in transition, and softness in Acute Care Therapies (notably ventilators). Management reiterated 2026 top-line guidance (3%–5% organic growth adjusted for surgical perfusion phaseout) and the long-term margin ambition (16%–19% by 2028) while withholding margin guidance for 2026 due to uncertainty. Overall, the positive operational momentum, strong cash flow and strategic product wins slightly outweigh the near-term margin and geopolitical challenges.Positive Updates
Recurring and High-Margin Revenue Mix
Sales from recurring revenue make up approximately two-thirds (~66.7%) of sales and high-margin products are closing in on about 70% of sales, reflecting successful portfolio rotation toward consumables and higher-margin offerings.
Negative Updates
Currency and Tariff Headwinds
Currency and tariffs created a combined drag of SEK 226 million on adjusted EBITA in Q1 (tariffs just over SEK 100 million). Adjusted gross margin declined by 0.7 percentage points; FX impacted EBITA margin by -0.3 percentage points and OpEx adjusted for currency by ~-1 percentage point.
Read all updates
Q1-2026 Updates
Positive
Negative
Recurring and High-Margin Revenue Mix
Sales from recurring revenue make up approximately two-thirds (~66.7%) of sales and high-margin products are closing in on about 70% of sales, reflecting successful portfolio rotation toward consumables and higher-margin offerings.
Read all positive updates
Company Guidance
Getinge reconfirmed its 2026 guidance of organic net sales growth of 3–5% (adjusted for the phaseout of Surgical Perfusion, which is expected to decline from ~SEK 250m in 2025 to ~SEK 50m in 2026) and reiterated its long‑term adjusted EBITA margin target of 16–19% by end‑2028; management noted Q1 context including organic net sales +0.8%, order intake +3.9% organically, adjusted EBITA SEK 824m (11.1% margin) and a SEK 226m FX/tariff headwind (tariffs ~SEK 100m), and pointed to supporting metrics of adjusted gross profit SEK 3,828m, free cash flow SEK 842m, net debt SEK 9.3bn (SEK 7bn excl. pensions), cash ~SEK 4bn, leverage 1.5x adjusted EBITDA (1.1x excl. pensions), working capital ~90 days and ROIC 11.4% (R12M); they also expect price increases of ~2% in 2026, a rolling reduction in extraordinary quality costs (peaked ~SEK 800m in 2024 and expected to be at least halved over time), and noted potential margin tailwinds if the SEK 226m Q1 tariff/Fx drag does not persist.Getinge AB Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
74
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 33.97B | 34.97B | 34.76B | 31.83B | 28.29B | 27.05B |
| Gross Profit | 15.44B | 16.65B | 16.15B | 14.49B | 13.41B | 13.58B |
| EBITDA | 6.14B | 6.44B | 5.31B | 5.91B | 5.70B | 6.15B |
| Net Income | 2.35B | 2.26B | 1.64B | 2.41B | 2.49B | 2.97B |
Balance Sheet | ||||||
| Total Assets | 58.02B | 56.51B | 63.92B | 53.59B | 52.03B | 44.55B |
| Cash, Cash Equivalents and Short-Term Investments | 4.02B | 3.40B | 2.96B | 2.73B | 5.68B | 4.08B |
| Total Debt | 10.99B | 10.88B | 10.73B | 8.08B | 5.82B | 4.31B |
| Total Liabilities | 26.98B | 27.01B | 30.71B | 23.18B | 21.58B | 19.38B |
| Stockholders Equity | 30.98B | 29.43B | 33.01B | 30.17B | 30.04B | 24.75B |
Cash Flow | ||||||
| Free Cash Flow | 3.29B | 2.48B | 3.27B | 1.60B | 2.23B | 5.63B |
| Operating Cash Flow | 4.57B | 3.71B | 4.58B | 2.96B | 3.37B | 6.56B |
| Investing Cash Flow | -2.87B | -2.78B | -4.55B | -6.54B | -1.47B | -1.33B |
| Financing Cash Flow | -2.11B | -719.09M | 504.00M | 511.00M | -500.00M | -7.24B |
Getinge AB Technical Analysis
Positive
22.97
Price Trends
20.48
Negative
20.68
Negative
21.62
Negative
Market Momentum
-0.04
Negative
51.09
Neutral
59.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GNGBY, the sentiment is Positive. The current price of 22.97 is above the 20-day moving average (MA) of 20.36, above the 50-day MA of 20.48, and above the 200-day MA of 21.62, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 51.09 is Neutral, neither overbought nor oversold. The STOCH value of 59.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GNGBY.
Getinge AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $20.52B | 26.48 | 11.05% | 0.94% | 8.73% | 26.55% | |
73 Outperform | $16.66B | 22.07 | 6.01% | 1.05% | 9.23% | -14.66% | |
72 Outperform | $10.55B | 35.47 | 21.38% | ― | 31.93% | -24.86% | |
72 Outperform | $12.19B | 19.53 | 11.79% | 2.28% | 6.30% | 52.96% | |
70 Outperform | $5.54B | 22.88 | 7.97% | 2.05% | 8.24% | 81.19% | |
62 Neutral | $26.34B | 23.29 | 8.96% | 3.30% | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
GNGBY
Getinge AB
20.47
0.78
3.98%
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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.