Vimian Group AB (VIMIAN) AI Stock Analysis

• Market Cap: kr13.95B
• Dividend Yield: N/A
• Average Volume (3M): 772.80K
• Price to Earnings (P/E): 40.8
• Beta (1Y): 0.73
• Revenue Growth: 17.13%
• EPS Growth: N/A
• Country: SE
• Employees: 1,200
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Diagnostics & Research
• EPS (TTM): 0.21
• Shares Outstanding: 525,964,540
• 10 Day Avg. Volume: 366,844
• 30 Day Avg. Volume: 772,803
• PEG Ratio: 0.72
• Price to Book (P/B): 2.10
• Price to Sales (P/S): 3.45
• P/FCF Ratio: 16.20
• 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: kr30.63
• Price Target Upside: 14.87% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: kr30.00 ▲(12.53% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is driven primarily by strengthening fundamentals (growth, improving margins, better leverage, and sharply improved cash generation), offset by a technically weak trend (below key moving averages with negative MACD) and a relatively expensive valuation (high P/E with no dividend support).

Positive Factors

Accelerating revenue growth

Sustained top-line expansion across 2023–2025 demonstrates rising demand and successful commercialization of specialty veterinary products. Durable revenue momentum improves scale economics, funds reinvestment and acquisitions, and increases the likelihood that recent margin and cash-flow gains persist over the medium term.

High, stable gross margin (~69%)

A ~69% gross margin reflects structural pricing power from specialty pharmaceuticals and medtech in companion/equine markets. Durable high gross margins provide a buffer against cost variability, support long-term operating profitability if SG&A is controlled, and underpin resilient cash generation across cycles.

Material improvement in cash generation

A marked recovery to positive operating cash flow and substantial free cash flow in 2025 strengthens financial flexibility. Improved cash conversion supports deleveraging, capex and M&A funding without relying on external financing, enhancing the company's ability to execute strategic, durable growth initiatives.

Negative Factors

Earnings and cash-flow volatility

Past swings—including a loss year and a negative cash-flow year—indicate earnings sensitivity to demand, pricing or cost swings. This volatility reduces predictability of profits and free cash, complicates multi-year planning and weakens confidence that recent improvements will be consistently sustained.

Modest returns on equity

ROE near 4.5% signals limited capital efficiency relative to the equity base. Even with improving profits, low returns constrain the firm's ability to generate high shareholder value without materially higher margins or faster, profitable growth and may limit long-term capital allocation flexibility.

Narrow conversion from gross to net profit

A large gap between gross and net margins suggests elevated operating, SG&A or integration costs that limit bottom-line capture. Structural pressure on operating leverage could cap long-term net profitability and constrain the durability of margin expansion unless operating efficiency improves.

Vimian Group AB Business Overview & Revenue Model

Company Description

Vimian Group AB (publ) engages in the animal health business worldwide. It operates through Specialty Pharma, MedTech, Diagnostics, and Veterinary Services segments. The company offers proprietary diagnostics, prescription, and non-prescription treatments for preventive care and treatment of chronic conditions for companion animals under the Nextmune brand name; and molecular and immunodiagnostic solutions that are used by laboratories for veterinary specific applications with a focus on livestock and companion animal health markets under the Indical Bioscience brand name. It also provides procurement and tech-driven operations, such as online marketing, and education and HR, as well as a community for veterinary clinics through a membership-based platform under the VetFamily brand name; and orthopedic implants for veterinarians and universities under the Movora brand name. The company was incorporated in 2020 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Vimian generates revenue through multiple streams, primarily by selling veterinary diagnostic products, pharmaceuticals, and digital solutions to veterinary clinics and animal health professionals. The company leverages its expertise in the veterinary sector to develop proprietary technologies and solutions that meet the evolving needs of the market. Additionally, Vimian benefits from strategic partnerships with other organizations in the animal health industry, enabling them to expand their product offerings and reach a broader customer base. The combination of direct sales, partnerships, and a focus on innovation contributes significantly to Vimian's earnings.

Vimian Group AB Financial Statement Overview

Summary

Financial performance is improving with accelerating revenue growth (2023–2025), expanding net/operating profitability, and consistently high gross margin (~69%). Balance sheet leverage is trending lower and cash flow rebounded strongly in 2024–2025, but historical earnings and cash-flow volatility reduces confidence in durability.

Income Statement

Vimian shows strong top-line momentum, with revenue rising from 331.7M (2023) to 374.8M (2024) and 425.0M (2025), including very strong growth in 2025. Profitability has also improved: net margin expanded from ~3.0% (2023) to ~4.9% (2024) and ~7.4% (2025), while operating profitability and EBITDA margin also trended upward. Strength is supported by consistently high gross margin (~69%). Key weakness is earnings volatility over the cycle (loss in 2022 and unusually high profitability in 2020), which lowers confidence in durability despite the recent improvement.

Balance Sheet

Leverage looks reasonable and improving, with debt-to-equity declining from ~0.60 (2023) to ~0.33–0.34 (2024–2025) as equity remains substantial versus assets. Returns on equity have rebounded but are still modest (about 4.5% in 2025), indicating profitability is improving but not yet strong relative to the capital base. Overall, the balance sheet appears stable, though the main watch-item is whether returns continue to scale meaningfully as growth continues.

Cash Flow

Cash generation strengthened materially: operating cash flow moved from negative in 2023 to 58.1M (2024) and 105.7M (2025), and free cash flow rose to 90.6M in 2025 with strong growth versus 2024. Cash conversion improved toward breakeven-to-strong levels, supporting earnings quality in the latest year. The key weakness is historical volatility—negative operating and free cash flow in 2023 and low operating cash flow relative to profit in some earlier years—suggesting cash performance may still be uneven across periods.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	425.00M	374.80M	331.73M	281.31M	173.35M
Gross Profit	292.80M	258.30M	229.43M	193.99M	122.85M
EBITDA	113.08M	82.80M	69.19M	39.20M	36.16M
Net Income	31.30M	18.50M	9.84M	-7.20M	6.59M
Balance Sheet
Total Assets	1.11B	1.11B	973.68M	923.56M	640.72M
Cash, Cash Equivalents and Short-Term Investments	55.00M	64.80M	37.50M	42.19M	55.11M
Total Debt	238.70M	233.60M	313.80M	220.96M	180.37M
Total Liabilities	401.00M	403.30M	446.97M	442.06M	282.08M
Stockholders Equity	698.90M	699.90M	526.37M	481.81M	357.41M
Cash Flow
Free Cash Flow	90.60M	43.90M	-43.48M	15.01M	4.52M
Operating Cash Flow	105.70M	58.10M	-28.58M	25.31M	16.01M
Investing Cash Flow	-112.80M	-76.00M	-77.68M	-188.53M	-115.00M
Financing Cash Flow	-1.20M	44.80M	100.55M	150.23M	123.94M

Vimian Group AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 26.66
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:VIMIAN, the sentiment is Negative. The current price of 26.66 is below the 20-day moving average (MA) of 26.88, below the 50-day MA of 28.76, and below the 200-day MA of 32.94, indicating a bearish trend. The MACD of -0.63 indicates Negative momentum. The RSI at 43.08 is Neutral, neither overbought nor oversold. The STOCH value of 41.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:VIMIAN.

Vimian Group AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MCAP	64 Neutral	kr7.16B	32.59	15.16%	―	11.30%	-14.49%
VIMIAN	63 Neutral	kr13.95B	40.76	4.63%	―	17.13%	―
ALIF.B	61 Neutral	kr16.83B	30.03	7.24%	0.46%	5.14%	236.75%
NOLA.B	58 Neutral	kr13.68B	17.61	14.17%	2.48%	0.40%	38.42%
EKTA.B	55 Neutral	kr21.24B	72.98	3.08%	4.25%	-0.90%	-70.95%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
VITR	49 Neutral	kr11.96B	-2.46	3.34%	0.80%	-1.29%	―

Vimian Group AB Corporate Events

Vimian posts solid 2025 growth and upgrades to Nasdaq Main Market

Vimian Group AB reported broad-based growth in 2025, expanding its MedTech dental platform while working to mitigate headwinds in its MedTech orthopedics business. The company delivered 13% total revenue growth, 6% organic growth and 11% adjusted EBITA growth, achieving a 24.8% adjusted EBITA margin, supported by strong operational cash generation and a completed listing transfer to the Nasdaq Main Market, which strengthens its market profile and access to capital.

These results underscore Vimian’s resilience and strategic focus on higher-growth niches within animal health, particularly in dental MedTech, even as it navigates challenges in orthopedics. The combination of solid profitability, robust cash flow and an upgraded stock market listing reinforces its positioning as a consolidator in the animal health technology space and provides a stronger platform for future expansion and stakeholder confidence.

The most recent analyst rating on (SE:VIMIAN) stock is a Buy with a SEK29.00 price target. To see the full list of analyst forecasts on Vimian Group AB stock, see the SE:VIMIAN Stock Forecast page.

Vimian to Present 2025 Year-End Results in February Webcast

Vimian Group AB has announced that it will publish its year-end report for 2025 on Thursday 12 February at 07:45 CET, followed by an English-language audiocast for investors, analysts and media at 09:00 CET, where CEO Alireza Tajbakhsh and CFO Carl-Johan Zetterberg Boudrie will present and comment on the results and take questions. The company is providing both telephone and webcast access, with presentation materials to be made available on its website in advance, underscoring its efforts to maintain transparent communication with the market and engage stakeholders around its financial performance and strategic development in the global animal health sector.

The most recent analyst rating on (SE:VIMIAN) stock is a Buy with a SEK30.00 price target. To see the full list of analyst forecasts on Vimian Group AB stock, see the SE:VIMIAN Stock Forecast page.

Vimian’s Specialty Pharma Chief to Step Down in Spring 2026

Vimian Group AB has announced that Magnus Kjellberg, Head of its Specialty Pharma segment and a long-standing member of the group management team, will step down during spring 2026 to pursue opportunities outside the company. Kjellberg has been credited with helping build Vimian’s global Specialty Pharma platform in animal health, combining acquisition-led and organic growth, and the company emphasizes that the segment is now in a strong position for continued success; CFO Carl-Johan Zetterberg Boudrie will assume the role of interim Head of Specialty Pharma while a search for a permanent successor begins, with a transition period planned to ensure operational continuity and stability for stakeholders.

The most recent analyst rating on (SE:VIMIAN) stock is a Hold with a SEK35.00 price target. To see the full list of analyst forecasts on Vimian Group AB stock, see the SE:VIMIAN Stock Forecast page.

Vimian Updates Share Capital and Voting Rights After Incentive Programme Issues

Vimian Group AB has increased its total number of shares and votes following the issuance of new D, E1 2025, E2 2025 and E3 2025 shares under its LTIP 2025/2028 incentive programme and the conversion of a small number of C shares into ordinary shares. As of the last trading day in December 2025, the company has 529,262,637 shares outstanding, comprising several share classes with different voting rights, resulting in a total of 526,294,558.5 votes and reflecting ongoing use of equity-based incentives to align management and employees with shareholder interests while slightly diluting existing shareholders.

The most recent analyst rating on (SE:VIMIAN) stock is a Hold with a SEK39.00 price target. To see the full list of analyst forecasts on Vimian Group AB stock, see the SE:VIMIAN Stock Forecast page.

Vimian Buys Italian Vet Diagnostics Firm I-Vet to Bolster Companion Animal Offering

Vimian Group AB has agreed to acquire I-Vet, a leading Italian provider of reference laboratory services and in-clinic diagnostic solutions for companion animals, which serves some 5,000 veterinary clinics and generates annual revenues of around EUR 5.6 million. The deal, Vimian’s fifth acquisition in 2025, will fold I-Vet into its Diagnostics segment, retain CEO and founder Daniele Franzini at the helm, and is financed with existing cash, underscoring Vimian’s strategy to deepen its footprint in the fast-growing companion animal diagnostics market while having only a marginal impact on earnings per share in 2026.

The most recent analyst rating on (SE:VIMIAN) stock is a Hold with a SEK39.00 price target. To see the full list of analyst forecasts on Vimian Group AB stock, see the SE:VIMIAN Stock Forecast page.

Vimian Issues and Repurchases Additional Shares to Expand 2025 Incentive Program

Vimian Group AB has resolved to issue and subsequently repurchase a total of 596,437 additional class D, E1 2025, E2 2025 and E3 2025 shares as part of its previously approved 2025 long-term incentive program based on hurdle shares and employee stock options. The new shares, subscribed by DNB Carnegie Investment Bank at quota value and immediately repurchased by Vimian for later transfer to program participants, slightly increase share capital while using non-dividend, low-vote share classes and deviating from preferential rights specifically to facilitate broader participation and category changes in the incentive plan, aligning employee and management incentives with shareholder interests without materially diluting control or cash flows for existing investors.

The most recent analyst rating on (SE:VIMIAN) stock is a Hold with a SEK39.00 price target. To see the full list of analyst forecasts on Vimian Group AB stock, see the SE:VIMIAN Stock Forecast page.

Vimian Group AB Expands Share Base Through Incentive Program

Vimian Group AB announced an increase in its number of shares and votes due to the issuance of D shares, E1 2025 shares, E2 2025 shares, and E3 2025 shares as part of its incentive program LTIP 2025/2028. This change reflects a strategic move to enhance its market positioning and operational capabilities, potentially impacting stakeholders by increasing the company’s voting power and share distribution.

The most recent analyst rating on (SE:VIMIAN) stock is a Hold with a SEK39.00 price target. To see the full list of analyst forecasts on Vimian Group AB stock, see the SE:VIMIAN Stock Forecast page.

Vimian Group Appoints Alireza Tajbakhsh as CEO to Drive Growth

Vimian Group AB has appointed Alireza Tajbakhsh as its new CEO, effective immediately. Tajbakhsh, who has been with Vimian since 2021, previously led the Veterinary Services segment and served as interim Head of the MedTech segment. His leadership is expected to continue driving the company’s strategy of organic and acquisition-driven growth, enhancing its position in the animal health industry. The appointment is seen as a strategic move to strengthen Vimian’s global leadership in animal health niches with unmet medical needs, aiming to improve animal health through science and technology.

The most recent analyst rating on (SE:VIMIAN) stock is a Hold with a SEK33.00 price target. To see the full list of analyst forecasts on Vimian Group AB stock, see the SE:VIMIAN Stock Forecast page.