Grifols SA (GRFS)
NASDAQ:GRFS
Want to see GRFS full AI Analyst Report?
Top Page
Grifols SA
(NASDAQ:GRFS)
Select Model
Select Model
Rating:59Neutral
Price Target:
$8.00
â–¼(-8.88% Downside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by improving profitability and stabilized free cash flow, but held back by high leverage and weak/declining reported revenue trends. Technical indicators are bearish and weigh on the outlook, while valuation is reasonable and the latest earnings call was constructive on guidance, cost control, and balance-sheet progress despite near-term operational headwinds.
Positive Factors
Vertical plasma sourcing ramp (Egypt)
Securing EMA-approved Egyptian plasma at scale materially strengthens Grifols’ raw-material base and reduces reliance on U.S. donors. A planned ~2.5x ex‑U.S. volume increase by 2029 should lower cost-per-liter, support steady production capacity, and sustainably improve biopharma margins over several years.
Negative Factors
Elevated leverage
Sustained high leverage constrains strategic optionality: it limits ability to pursue large M&A or aggressive share returns, increases sensitivity to interest-rate moves, and requires continued strong cash generation to hit deleveraging targets. Even with upgrades, balance-sheet risk remains a structural constraint.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertical plasma sourcing ramp (Egypt)
Securing EMA-approved Egyptian plasma at scale materially strengthens Grifols’ raw-material base and reduces reliance on U.S. donors. A planned ~2.5x ex‑U.S. volume increase by 2029 should lower cost-per-liter, support steady production capacity, and sustainably improve biopharma margins over several years.
Read all positive factors
Grifols SA Key Performance Indicators (KPIs)
Any
Revenue by Business Type
Breaks down sales between plasma‑derived therapies, diagnostics, hospital products and other units so you can see which lines deliver margins, recurring cash flow, and growth. A large share from recurring plasma products usually means stable revenue but depends on donor supply and regulatory approvals; expanding diagnostics or hospital businesses can diversify risk but may be more cyclical and require upfront investment.
Breaks down sales between plasma‑derived therapies, diagnostics, hospital products and other units so you can see which lines deliver margins, recurring cash flow, and growth. A large share from recurring plasma products usually means stable revenue but depends on donor supply and regulatory approvals; expanding diagnostics or hospital businesses can diversify risk but may be more cyclical and require upfront investment.
Data provided by:
The Fly
The FlyGrifols SA (GRFS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.52B
Dividend Yield1.56%
Average Volume (3M)691.08K
Price to Earnings (P/E)15.9
Beta (1Y)0.96
Revenue Growth8.91%
EPS Growth129.84%
CountryUS
Employees23,833
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - General
Share Statistics
EPS (TTM)0.61
Shares Outstanding261,425,100
10 Day Avg. Volume628,835
30 Day Avg. Volume691,078
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.03
Price to Sales (P/S)0.75
P/FCF Ratio7.21
Enterprise Value/Market Cap2.33
Enterprise Value/Revenue2.04
Enterprise Value/Gross Profit5.41
Enterprise Value/Ebitda9.74
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.99
Revenue Forecast (FY)$9.02B
Grifols SA Business Overview & Revenue Model
Company Description
Grifols, S.A. engages in the procurement, manufacture, preparation, and sale of therapeutic products, primarily hemoderivatives. The company operates through Bioscience, Hospital, Diagnostic, Bio Supplies, and Others divisions. The Bioscience divi...
How the Company Makes Money
Grifols makes money primarily by selling plasma-derived medicines and services, complemented by revenue from diagnostic and transfusion-related products. Its largest revenue stream comes from plasma-derived therapies (biopharma), where the company...
Grifols SA Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call presented a largely constructive operational and financial picture: solid revenue growth, strong Biopharma and IG momentum, margin resilience, disciplined OpEx reductions, meaningful balance-sheet and liquidity improvements, and a strategically significant ramp in Egyptian plasma sourcing that supports long-term margin expansion. Near-term headwinds—most notably albumin weakness in China, a decline in Alpha‑1 & specialty proteins (driven in part by prior-year inventory effects and access frictions), reported Diagnostics revenue impact from the Quidel Ortho JV dissolution, seasonally negative free cash flow in Q1 and FX translation pressure—were acknowledged as largely temporary or manageable and offset by active mitigation plans (pricing/market access initiatives, center optimization, platform launches, and compensation from the JV dissolution). Overall, positives in execution, capital structure and strategic positioning materially outweigh the temporary operational and market challenges highlighted by management.Positive Updates
Quarterly Revenue Growth
Reported revenues of EUR 1.7 billion in Q1 2026, representing +3.3% growth at constant currency versus prior year.
Negative Updates
Albumin Sales Weakness in China
Albumin sales declined 6.1% year-over-year at constant currency in Q1 2026 due to pricing dynamics, elevated in-country inventories and mid-2025 price adjustments; management expects H1 pressure versus prior year and stabilization into H2 2026.
Read all updates
Q1-2026 Updates
Positive
Negative
Quarterly Revenue Growth
Reported revenues of EUR 1.7 billion in Q1 2026, representing +3.3% growth at constant currency versus prior year.
Read all positive updates
Company Guidance
Management reiterated 2026 targets of an adjusted EBITDA margin of at least 25%, adjusted EBITDA growth of 5–9% at constant currency and improving free cash flow toward EUR 500–575 million. In Q1 they reported revenue of EUR 1.7 billion (+3.3% cc), adjusted EBITDA EUR 381m reported / EUR 404m at constant currency (margin ~22.4%, +0.8% cc), free cash flow pre‑M&A -EUR 8m (improved EUR 30m YoY), group profit EUR 73m (+22% YoY), net leverage 4.3x (down 0.2 turns YoY) and gross margin +180bps vs Q4‑25; OpEx was down 7.7% cc. Biopharma grew 6.8% cc (IG +15.3% cc; albumin -6.1% cc; Alpha‑1 & specialty -7.4% YoY); management expects continued Gamunex mid‑to‑high single‑digit growth and Xembify strong double‑digit growth. Key operational/plasma metrics include Egypt plasma collections ~1 million liters in 2026 ramping to ~3 million by 2029, ex‑U.S. plasma volumes rising roughly 2.5x by 2029 (today ~25% of U.S. plasma supports ex‑U.S. demand). Balance sheet moves include a revolver upsized to >$2bn (from ~$940m) with next maturities pushed to Q4‑28, partial redemption of EUR 500m 7.5% bonds, a USD 65m Quidel‑Ortho compensation payable over 3 years, and guidance that cash interest should be at or below 2025 levels.Grifols SA Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
54
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.45B | 7.23B | 7.21B | 6.59B | 6.06B | 4.93B |
| Gross Profit | 2.81B | 2.58B | 2.79B | 2.48B | 2.21B | 1.96B |
| EBITDA | 1.56B | 1.62B | 1.48B | 1.17B | 1.19B | 944.03M |
| Net Income | 415.56M | 386.13M | 156.92M | 42.32M | 185.03M | 188.73M |
Balance Sheet | ||||||
| Total Assets | 20.10B | 19.75B | 21.41B | 20.99B | 21.23B | 19.23B |
| Cash, Cash Equivalents and Short-Term Investments | 702.73M | 824.65M | 1.00B | 646.04M | 580.24M | 2.69B |
| Total Debt | 9.68B | 8.74B | 10.09B | 11.02B | 9.75B | 10.17B |
| Total Liabilities | 12.24B | 12.13B | 12.80B | 13.48B | 13.25B | 11.92B |
| Stockholders Equity | 5.46B | 5.27B | 5.88B | 5.37B | 5.65B | 5.52B |
Cash Flow | ||||||
| Free Cash Flow | 744.54M | 751.14M | 530.80M | -91.63M | -386.43M | 349.60M |
| Operating Cash Flow | 1.01B | 1.01B | 902.17M | 218.69M | -10.87M | 596.98M |
| Investing Cash Flow | -498.39M | -556.15M | 886.67M | -394.72M | -1.98B | -854.15M |
| Financing Cash Flow | -527.14M | -508.12M | -1.36B | 171.49M | -173.49M | 2.30B |
Grifols SA Technical Analysis
Negative
8.78
Price Trends
8.05
Negative
8.61
Negative
9.05
Negative
Market Momentum
-0.13
Positive
44.83
Neutral
30.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GRFS, the sentiment is Negative. The current price of 8.78 is above the 20-day moving average (MA) of 8.02, above the 50-day MA of 8.05, and below the 200-day MA of 9.05, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 44.83 is Neutral, neither overbought nor oversold. The STOCH value of 30.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GRFS.
Grifols SA Risk Analysis
Grifols SA disclosed 53 risk factors in its most recent earnings report. Grifols SA reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Grifols SA Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $160.99B | 21.41 | 42.20% | 2.52% | 3.83% | 55.01% | |
71 Outperform | $117.03B | 11.57 | 39.05% | 4.11% | 1.78% | 33.76% | |
69 Neutral | $103.80B | 15.55 | 14.41% | 4.58% | 11.19% | -0.23% | |
66 Neutral | $100.26B | 12.08 | 35.78% | 3.41% | 9.19% | 98.98% | |
65 Neutral | $175.08B | 26.11 | 89.41% | 3.00% | 9.94% | 31.14% | |
59 Neutral | $6.52B | 15.91 | 7.88% | 1.56% | 8.91% | 129.84% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
GRFS
Grifols SA
7.84
-0.09
-1.13%
AMGN
Amgen
330.75
63.76
23.88%
BMY
Bristol-Myers Squibb
58.31
12.72
27.90%
GILD
Gilead Sciences
130.50
24.22
22.79%
GSK
GlaxoSmithKline
51.05
14.02
37.87%
SNY
Sanofi
43.55
-7.31
-14.38%
Grifols SA Corporate Events
Grifols Lifts Q1 2026 Profit and Revenue as Immunoglobulins Surge and Debt is Refinanced
May 7, 2026
On May 7, 2026, Grifols reported first‑quarter 2026 revenue of €1.7 billion, up 3.3% at constant currency, and a 21.9% rise in net profit to €73 million, driven by a 6.8% Biopharma revenue increase and strong 15.3% growth in immu...
Grifols Refinances 2027 Debt and Extends Maturities with Multi-Billion Term Loan B Package
Apr 14, 2026
On April 14, 2026, Grifols S.A. announced it had successfully refinanced its 2027 debt maturities through a new Term Loan B credit agreement, split into a USD 2 billion U.S. dollar term loan, a EUR 1.25 billion euro term loan, and a USD 2.065 bill...
Grifols Weighs U.S. IPO of Biopharma Subsidiary to Support Self-Sufficiency Strategy
Mar 24, 2026
On March 24, 2026, Grifols announced that its board has begun evaluating a potential U.S. initial public offering of a portion of the shares of its subsidiary that heads its U.S. Biopharma business, as part of its self-sufficiency programs for pla...
Grifols Doubles 2025 Profit and Secures Key Plasma and Fibrinogen Approvals
Feb 26, 2026
Grifols reported its full-year 2025 results on February 26, 2026, posting revenues of €7.52 billion, up 7.0% at constant currency, largely driven by robust Biopharma growth and strong demand for immunoglobulins. Adjusted EBITDA rose to ̈́...
Grifols Swings to Profit as Board Signs Off 2025 Annual Accounts
Feb 26, 2026
On 25 February 2026, Grifols’ board of directors approved and signed the individual audited financial statements for the year ended 31 December 2025, asserting that they present a true and fair view of the company’s net worth, financia...
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.