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Getinge AB Class B GETI B

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Stock XSTO Rating as of
SEK 186.65 +1.50 (0.81%)
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As of Delayed Price Closed
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Company Report

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Getinge Earnings: Full-Year Guidance Reaffirmed on In-Line Results; Shares Fairly Valued

Jay Lee

Narrow-moat Getinge reported first-quarter results that were in line with our expectations and management reiterated its full-year guidance of 2%-5% organic sales growth. The company also plans to hold an informal update on May 15, which should offer some updated views on the growth trajectories of its end markets and additional color about its cost structure. We maintain our fair value estimate of SEK 236 per share and view shares as fairly valued.

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Price vs Fair Value

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GETI B is trading at a 266% premium.
Price
SEK 185.15
Fair Value
SEK 572.00
Uncertainty
High
1-Star Price
SEK 137.80
5-Star Price
SEK 895.50
Economic Moat
Kwxhmf
Capital Allocation
Kppkcwnm

Bulls Say, Bears Say

Bulls

Despite ongoing costs related to quality improvement in cardiopulmonary and cardio assist products, once these are resolved the company has a pathway to improving profitability driven by favorable product mix shift and new product launches.

Bears

Regulatory issues have weighed on the company for over 10 years since its FDA consent decree in 2015.

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Trading Information

Previous Close Price
SEK 185.15
Day Range
SEK 183.50–186.85
52-Week Range
SEK 174.20–268.80
Bid/Ask
SEK 186.40 / SEK 186.50
Market Cap
SEK 50.84 Bil
Volume/Avg
996,986 / 938,256

Key Statistics

Price/Earnings (Normalized)
21.09
Price/Sales
1.57
Dividend Yield (Trailing)
2.38%
Dividend Yield (Forward)
2.38%
Total Yield
2.38%

Company Profile

Getinge, headquartered in Gothenburg, Sweden, manufactures a wide range of products for use in acute care, surgical, and life sciences in the hospital, pharmaceutical, and research settings. The company reports in three segments: acute care therapies (52% of revenue), surgical workflows (34%), and life sciences (14%). Product areas include ventilators, surgical stents, life support systems, sterilizers, surgical tables, and sterile transfer systems. Getinge derives revenue from a broad geographic footprint, with the Americas accounting for 45% of sales (U.S. 33% of sales), Asia-Pacific 25%, and Europe, Middle East, and Africa the remaining 30%.
Sector
Healthcare
Industry
Medical Devices
Stock Style Box
Mid Core
Total Number of Employees
11,862
Website
https://www.getinge.com

Competitors

Valuation

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Metric
GETI B
MDT
TFX
Price/Earnings (Normalized)
 21.0915.6215.71
Price/Book Value
 1.562.172.24
Price/Sales
 1.573.483.38
Price/Cash Flow
 11.0615.3815.63
Price/Earnings
GETI B
MDT
TFX

Financial Strength

Metric
GETI B
MDT
TFX
Quick Ratio
 1.001.461.20
Current Ratio
 1.692.302.51
Interest Coverage
 9.138.864.32
Quick Ratio
GETI B
MDT
TFX

Profitability

Metric
GETI B
MDT
TFX
Return on Assets (Normalized)
 4.79%7.75%5.24%
Return on Equity (Normalized)
 8.20%13.75%8.81%
Return on Invested Capital (Normalized)
 7.34%9.87%7.31%
Return on Assets
GETI B
MDT
TFX
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