Vitrolife AB (VITR) AI Stock Analysis

• Market Cap: kr12.51B
• Dividend Yield: 0.8%
• Average Volume (3M): 92.36K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.38
• Revenue Growth: -1.29%
• EPS Growth: N/A
• Country: SE
• Employees: 1,150
• Sector: General
• Sector Strength: N/A
• Industry: Medical - Devices
• EPS (TTM): 0.66
• Shares Outstanding: 135,447,190
• 10 Day Avg. Volume: 105,869
• 30 Day Avg. Volume: 92,365
• PEG Ratio: <0.01
• Price to Book (P/B): 2.35
• Price to Sales (P/S): 5.39
• P/FCF Ratio: 50.83
• 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): 4.53
• Revenue Forecast (FY): kr3.55B

• Rating: 49 Neutral
• Price Target: kr89.00 ▼(-33.08% Downside)
• Action: Reiterated Date: 02/05/26
• Date: Action: Reiterated 02/05/26

The score is held back primarily by severe technical weakness (deep downtrend and very oversold momentum) and high earnings volatility driven by a sharp 2025 profitability collapse. These are partially offset by continued positive cash generation, manageable leverage, and a cautiously improving operational narrative from the latest earnings call (growth pockets and margin normalization ambitions), while valuation is mixed due to negative earnings and only a modest dividend yield.

Positive Factors

Market Position & Product Breadth

A broad, clinic-essential product portfolio (culture media, cryopreservation, equipment and training) creates recurring consumables demand and multiple touchpoints with customers. That durable commercial footprint supports steady replacement/consumable revenue and cross-sell opportunities across clinics worldwide.

Technologies Momentum

Rapid adoption of higher‑value Technologies (EmbryoScope) indicates successful product-market fit and commercial execution. Growing installed base and penetration boost higher‑margin sales, enable cross-selling of consumables, and create a structural lever for future margin recovery as penetration expands.

Balance Sheet & Cash Generation

Manageable leverage and positive operating/free cash flow provide financing flexibility to fund R&D, commercial expansion and restructuring while maintaining shareholder returns. This cash generation cushions shocks and supports strategic initiatives during the recovery period.

Negative Factors

Earnings Volatility

A dramatic swing to a large loss signals weak earnings quality and high volatility in profitability. Such swings erode equity, reduce management flexibility, and make multi-period planning harder; normalization may take multiple quarters and depend on execution and external FX trends.

Margin Pressure & Mix

Material margin deterioration driven by mix, higher OpEx and restructuring undermines sustainable profitability. If mix shifts toward lower‑margin disposables or restructuring/outsource effects persist, recovering prior margin levels will require sustained product mix improvement and cost leverage.

Weakened Cash Conversion

Significant declines in operating and free cash flow reduce the company's buffer for reinvestment and restructuring. Slower cash conversion increases reliance on precise working capital management and could constrain discretionary spending or delay margin‑restoring investments.

Vitrolife AB Business Overview & Revenue Model

Company Description

Vitrolife AB (publ), a medical device company, develops, produces, and markets products for assisted reproduction. It provides oocyte retrieval needles; sperm processing; in vitro fertilization media and oil; micromanipulation pipettes; labware; incubators; cryopreservation; and preimplantation genetic testing products. The company also offers EmbryoScope and Primo Vision time-lapse systems; time-lapse dishes; evaluation tools for time-lapse systems; and Octax laser and imaging systems, as well as log and guard systems and wireless sensors. It operates in Europe, the Middle East, and Africa; Asia; Japan and Pacific; and North and South America. The company was formerly known as Scandinavian IVF Science and changed its name to Vitrolife AB (publ) in 1998. Vitrolife AB (publ) was founded in 1994 and is headquartered in Gothenburg, Sweden.

How the Company Makes Money

Vitrolife generates revenue primarily through the sale of its products and services to fertility clinics and hospitals worldwide. Its key revenue streams include the sale of culture media, cryopreservation products, and IVF-related equipment. The company also provides training and support services to its customers, enhancing their operational efficiency and effectiveness in assisted reproduction. Significant partnerships with healthcare institutions and participation in global fertility conferences contribute to its earnings by expanding its market reach and establishing Vitrolife as a trusted brand in the reproductive health sector.

Vitrolife AB Financial Statement Overview

Summary

Mixed fundamentals: balance sheet leverage is manageable (debt-to-equity ~0.21) and 2025 still delivered positive operating cash flow (~635M) and free cash flow (~365M). However, profitability was extremely volatile with a sharp 2025 swing to a large loss (net margin ~-146%) and revenue slightly down (~-1.9%), raising concern about earnings quality and stability.

Income Statement

Profitability has been highly volatile. After a profitable 2024 (net margin ~14%), results swung to a large loss in 2025 (net margin ~-146%) with negative operating profitability, despite still-solid gross margin (~51%). Revenue has been broadly flat-to-down recently (2025 revenue down ~1.9% after modest growth in 2024), and the sharp earnings deterioration is the key concern.

Balance Sheet

Leverage appears manageable with low-to-moderate debt versus equity (debt-to-equity ~0.21 in 2025), providing balance-sheet flexibility. However, returns to shareholders turned deeply negative in 2025 due to the net loss, and equity has fallen materially versus prior years—highlighting that earnings volatility is eroding the capital base even if headline leverage remains reasonable.

Cash Flow

Cash generation remains a relative strength: 2025 produced positive operating cash flow (~635M) and positive free cash flow (~365M). That said, free cash flow fell sharply year over year (~-47% in 2025), and cash flow strength is not fully translating into earnings stability given the large reported loss.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.44B	3.61B	3.51B	3.23B	1.68B
Gross Profit	1.75B	2.14B	1.98B	1.78B	1.05B
EBITDA	-4.41B	783.00M	-3.19B	977.00M	579.60M
Net Income	-5.01B	513.00M	-3.85B	394.00M	341.00M
Balance Sheet
Total Assets	11.12B	17.45B	16.33B	20.55B	19.43B
Cash, Cash Equivalents and Short-Term Investments	809.00M	1.14B	861.00M	578.00M	630.09M
Total Debt	1.68B	2.09B	2.09B	2.23B	2.48B
Total Liabilities	3.23B	3.81B	3.61B	3.81B	4.09B
Stockholders Equity	7.89B	13.64B	12.72B	16.74B	15.32B
Cash Flow
Free Cash Flow	365.00M	907.00M	638.00M	549.00M	321.86M
Operating Cash Flow	635.00M	907.00M	757.00M	636.00M	384.31M
Investing Cash Flow	-302.00M	-377.00M	-124.00M	-144.00M	-6.52B
Financing Cash Flow	-553.00M	-286.00M	-300.00M	-582.00M	5.75B

Vitrolife AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 133.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:VITR, the sentiment is Negative. The current price of 133 is above the 20-day moving average (MA) of 91.26, above the 50-day MA of 114.77, and below the 200-day MA of 135.24, indicating a neutral trend. The MACD of -6.66 indicates Negative momentum. The RSI at 42.25 is Neutral, neither overbought nor oversold. The STOCH value of 88.61 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:VITR.

Vitrolife AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CEVI	76 Outperform	kr3.52B	23.65	17.89%	1.61%	1.53%	0.79%
SECT.B	58 Neutral	kr37.72B	57.76	38.97%	0.43%	10.08%	68.12%
GETI.B	57 Neutral	kr54.07B	24.47	6.91%	2.16%	6.74%	21.40%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
BICO	50 Neutral	kr1.26B	-1.16	-57.26%	―	-23.24%	45.32%
VITR	49 Neutral	kr12.51B	-2.50	3.34%	0.80%	-1.29%	―
XVIVO	49 Neutral	kr5.67B	225.34	1.32%	―	8.39%	-85.36%

Vitrolife AB Corporate Events

Vitrolife Hit by Goodwill Impairment but Maintains Dividend as Underlying IVF Business Grows

Vitrolife reported 2025 full-year sales of SEK 3.44 billion, down 5% in Swedish kronor but up 2% in local currencies, with organic growth of 4% excluding discontinued EMEA activities, driven mainly by solid demand for consumables and steady performance in technologies and genetics. Despite resilient underlying operations, margins contracted and reported earnings were heavily hit by a SEK 5.36 billion goodwill impairment linked to a restructuring of Genetic Services and SEK 55 million in restructuring costs, pushing net income deeply negative for both the fourth quarter and the full year, although adjusted profit and cash flow remained positive; the board nevertheless maintained its dividend proposal at SEK 1.10 per share, signalling confidence in the company’s cash generation and long-term prospects.

The most recent analyst rating on (SE:VITR) stock is a Buy with a SEK129.00 price target. To see the full list of analyst forecasts on Vitrolife AB stock, see the SE:VITR Stock Forecast page.

Vitrolife Restructures Genetic Services for Strategic Growth

Vitrolife AB announced a restructuring program for its genetic services business, aiming for annual savings of SEK 65 million by the end of Q3 2026. The program involves discontinuing certain genetic test lines and exiting low-profit markets, impacting 6% of the workforce and resulting in a SEK 5.4 billion goodwill impairment related to the Igenomix acquisition.

The most recent analyst rating on (SE:VITR) stock is a Buy with a SEK167.00 price target. To see the full list of analyst forecasts on Vitrolife AB stock, see the SE:VITR Stock Forecast page.