Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
BONESUPPORT HOLDING AB is a Swedish orthobiologics company headquartered in Lund, specializing in the development and commercialization of innovative injectable bio-ceramic bone graft substitutes. Its flagship technology platform, CERAMENT, produces synthetic, osteoconductive biomaterials that remodel into the patient’s own bone within 6 to 12 months and can elute antibiotics like gentamicin for infection control. These products treat conditions such as fragility fractures from osteoporosis, bone voids from trauma or surgery, benign tumors, and osteomyelitis, supporting orthopedic procedures including fracture augmentation and spine support. Founded in 1999 by Professor Lars Lidgren, the company has raised over SEK 500 million in venture capital and went public on Nasdaq Stockholm in 2017. CERAMENT received FDA approval in 2005 and CE marking in 2009, with CERAMENT G designated a breakthrough device by the FDA in 2020. In 2024, BONESUPPORT HOLDING AB reported net sales of SEK 899 million, underscoring its growing role in the global medical device market for bone healing solutions.
kr 202.40
kr 1.20 (-0.59%)
Live · 04:13 PM · Twelve Data
Margins and capital returns are both well above average: 23.63% operating margin, ROIC at 24.40%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue up 30.7% YoY with margins expanding 7.2pp.
At 73x earnings, the current multiple leaves limited room for execution misses or growth deceleration.
73.1x earnings, 55.3x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
kr 1.22B
▲ +30.7% YoY
Net Income (TTM)
kr 185M
▲ +6.3% YoY
Op. Margin
26.34%
▲ +7.2pp YoY
ROIC
24.40%
▲ +6.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
kr 244M
▲ +260.7% YoY
Op. Cash Flow (TTM)
kr 257M
▲ +144.3% YoY
Net Debt
-kr 366M
Net Cash Position
Cash & Equiv.
kr 378M
3Y CAGR: +52.9%
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At a P/E of 73.1 and a price-to-free-cash-flow of 55.3, Bonesupport Holding AB (BONEX.XSTO) trades above a two-stage DCF intrinsic value of about SEK 190.31 per share, so at SEK 202.40 the stock looks overvalued (6.0% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Bonesupport Holding AB scores 78/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about SEK 190.31 per share for BONEX.XSTO, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around SEK 142.73. At today's SEK 202.40, that puts the stock about 6.0% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Bonesupport Holding AB scores 78 out of 100 on Intrinsiqq's quality score, passing 5 of 8 checks, which makes it a solid business on these measures. Recent fundamentals include a 26.3% operating margin and a 24.4% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full check-by-check breakdown is on the quality scorecard.
That depends on valuation and quality together, not either alone. BONEX.XSTO currently trades above its estimated intrinsic value and scores 78/100 on quality (solid). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.