Vitrolife AB (SE:VITR)
:VITR
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Vitrolife AB
(VITR)
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Rating:58Neutral
Price Target:
kr95.00
▼(-28.57% Downside)
Action:Reiterated
Date:05/23/26
The score is driven primarily by weak profitability and recent revenue softness, partially balanced by strong TTM cash generation and manageable leverage. Technically, the setup is moderately positive (above key shorter-term averages with positive MACD), while valuation is a headwind due to a higher P/E and only a modest dividend yield.
Positive Factors
Recurring Consumables Revenue
Vitrolife's core business is recurring sales of consumables and embryo culture media used every IVF procedure. That repeat-purchase revenue is structurally sticky, linking cash generation to clinic procedure volumes and installed workflows, supporting predictable revenue when volumes are stable.
Negative Factors
Revenue Softness
Declining revenue is a structural concern: lower procedure volumes or competition reduces top-line scale, weakens operating leverage, and limits the company's ability to cover fixed costs. Prolonged revenue contraction would impair margin recovery and long-term investment capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring Consumables Revenue
Vitrolife's core business is recurring sales of consumables and embryo culture media used every IVF procedure. That repeat-purchase revenue is structurally sticky, linking cash generation to clinic procedure volumes and installed workflows, supporting predictable revenue when volumes are stable.
Read all positive factors
Vitrolife AB (VITR) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr12.33B
Dividend Yield0.8%
Average Volume (3M)92.36K
Price to Earnings (P/E)―
Beta (1Y)0.46
Revenue Growth-5.68%
EPS Growth-1106.19%
CountrySE
Employees1,150
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)-37.01
Shares Outstanding135,447,190
10 Day Avg. Volume105,869
30 Day Avg. Volume92,365
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)2.35
Price to Sales (P/S)5.39
P/FCF Ratio50.83
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.08
Revenue Forecast (FY)kr3.48B
Vitrolife AB Business Overview & Revenue Model
Company Description
Vitrolife AB (publ) is a medical technology company specializing in the development, production, and global sale of products for assisted reproduction. Their comprehensive offering includes a variety of essential tools for fertility treatments, su...
How the Company Makes Money
Vitrolife makes money primarily by selling products and services to fertility clinics, IVF laboratories, and related healthcare providers involved in assisted reproduction. Its core revenue streams include: (1) Consumables and media: recurring sal...
Vitrolife AB Earnings Call Summary
Earnings Call Date:Feb 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 16, 2026
Earnings Call Sentiment Neutral
The call reported healthy operational momentum in key growth areas — notably Americas (9% organic growth, Technologies +40% in Q4) and APAC (10% organic growth) — and outlined clear strategic steps (Genetic Services restructuring, commercial investment, EmbryoScope penetration). However, significant FX headwinds, one‑time restructuring costs, higher OpEx and meaningful declines in margins, EBITDA, net income and operating cash flow tempered the financial outcome. The company emphasizes that many adverse effects were currency- and mix-driven and expects a return to more normal market and margin levels in 2026, while keeping leverage stable and maintaining the dividend.Positive Updates
Q4 Revenue and Organic Growth
Q4 sales of SEK 891 million with 6% organic growth in local currency excluding discontinued business; full-year sales SEK 3.5 billion with 4% organic growth in local currency excluding discontinued business (2% growth in local currencies for the full year including discontinued business).
Negative Updates
Significant Currency Headwinds
Q4 sales were significantly impacted by currency, cited as -10% effect on the quarter. Management noted large FX movements in 2025 (USD/SEK strengthened ~17% YTD, EUR ~7–8%, JPY ~14%), with FX reducing EBITDA margin by approximately 2.5 percentage points.
Read all updates
Q4-2025 Updates
Positive
Negative
Q4 Revenue and Organic Growth
Q4 sales of SEK 891 million with 6% organic growth in local currency excluding discontinued business; full-year sales SEK 3.5 billion with 4% organic growth in local currency excluding discontinued business (2% growth in local currencies for the full year including discontinued business).
Read all positive updates
Company Guidance
While Vitrolife declined to give formal 2026 guidance, management said they expect market conditions to “return to more normal levels” in 2026 (with a gradual recovery likely by Q2), target a normalized gross margin around the high‑50s (cited ~59% range versus Q4 adjusted 58.6% and Q4 2024’s 61.1%), and aim to drive profitable growth through higher Technologies penetration (EmbryoScope +40% in Americas Q4) and share gains in Consumables (APAC Consumables +11%, APAC Technologies +13% in Q4; Americas +9% organic). They reiterated the restructuring to exit specific Genetic Services tests (GPDx/NACE) to be completed by mid‑2026 (accelerated target: end‑Q1), said US commercial and IT investments are now fully loaded (no further S&M scale‑ups planned) so productivity should lift margins, and noted FX was a major headwind (≈2.5 percentage‑point negative impact on EBITDA margin); FY figures cited as context included sales SEK 3.5bn, adjusted EBITDA SEK 949m (adjusted EBITDA margin 29.2%), net income SEK 390m (EPS SEK 2.89), operating cash flow SEK 635m, net debt/EBITDA 0.7 and a proposed dividend of SEK 1.10 per share.Vitrolife AB Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
62
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.40B | 3.44B | 3.61B | 3.51B | 3.23B | 1.68B |
| Gross Profit | 1.75B | 1.75B | 2.14B | 1.98B | 1.78B | 1.05B |
| EBITDA | -4.56B | -4.41B | 783.00M | -3.19B | 977.00M | 579.60M |
| Net Income | -5.01B | -5.01B | 513.00M | -3.85B | 394.00M | 341.00M |
Balance Sheet | ||||||
| Total Assets | 11.24B | 11.12B | 17.45B | 16.33B | 20.55B | 19.43B |
| Cash, Cash Equivalents and Short-Term Investments | 886.00M | 809.00M | 1.14B | 861.00M | 578.00M | 630.09M |
| Total Debt | 1.58B | 1.60B | 2.09B | 2.09B | 2.23B | 2.48B |
| Total Liabilities | 3.17B | 3.23B | 3.81B | 3.61B | 3.81B | 4.09B |
| Stockholders Equity | 8.07B | 7.89B | 13.64B | 12.72B | 16.74B | 15.32B |
Cash Flow | ||||||
| Free Cash Flow | 563.00M | 365.00M | 907.00M | 638.00M | 549.00M | 321.86M |
| Operating Cash Flow | 738.00M | 635.00M | 907.00M | 757.00M | 636.00M | 384.31M |
| Investing Cash Flow | -298.00M | -302.00M | -377.00M | -124.00M | -144.00M | -6.52B |
| Financing Cash Flow | -583.00M | -553.00M | -286.00M | -300.00M | -582.00M | 5.75B |
Vitrolife AB Technical Analysis
Negative
133.00
Price Trends
102.56
Negative
98.11
Negative
117.28
Negative
Market Momentum
-2.88
Positive
32.53
Neutral
8.92
Positive
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 97.51, above the 50-day MA of 102.56, and above the 200-day MA of 117.28, indicating a bearish trend. The MACD of -2.88 indicates Positive momentum. The RSI at 32.53 is Neutral, neither overbought nor oversold. The STOCH value of 8.92 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:VITR.
Vitrolife AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | kr54.01B | 94.59 | 27.98% | 0.43% | 9.32% | 0.07% | |
73 Outperform | kr7.96B | 107.81 | 1.20% | ― | -2.39% | -46.09% | |
69 Neutral | kr52.81B | 22.39 | 6.91% | 2.16% | -4.14% | 59.50% | |
67 Neutral | kr3.26B | 24.34 | 17.89% | 1.61% | -2.32% | -11.87% | |
58 Neutral | kr12.33B | -2.46 | 3.34% | 0.80% | -5.68% | -1106.19% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
43 Neutral | kr1.18B | -1.20 | -50.36% | ― | -24.97% | -366.73% |
* General Sector Average
SE:VITR
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Vitrolife AB Corporate Events
Vitrolife Delivers Stable Q1 Results with Strong Cash Flow and Margin Gains
Apr 23, 2026
Vitrolife reported first-quarter 2026 sales of SEK 807 million, representing 5% growth in local currencies but a 4% decline in Swedish kronor, with strong demand in the Americas and APAC and solid gains in consumables and technologies. Profitabili...
Vitrolife Calls 2026 AGM With Governance, Incentive and Capital Structure Items
Apr 1, 2026
Vitrolife AB has called its 2026 Annual General Meeting for 5 May in Gothenburg, Sweden, allowing shareholders to participate either in person or through advance postal voting in line with its Articles of Association. Shareholders must be register...
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.