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.
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.
Dermapharm Holding SE is a leading manufacturer of branded pharmaceuticals and other healthcare products, founded in 1991 by Wilhelm Beier and headquartered in Grünwald near Munich, Germany. The company operates an integrated business model encompassing in-house product development, production, quality management, and distribution through a specialized sales force. Its primary segments include Branded pharmaceuticals, featuring over 1,300 marketing authorizations with more than 390 active pharmaceutical ingredients focused on dermatology, allergy therapy, and other key therapeutic areas where it holds market leadership, particularly in Germany; Other healthcare products, such as food supplements, herbal pharmaceuticals, cosmetics, medical devices, herbal extracts, and medicinal cannabis, bolstered by subsidiaries like Euromed S.A. in Spain and Arkopharma in France; and a Parallel import business under the axicorp brand. With production sites in Brehna near Leipzig and other locations across Europe and the United States, Dermapharm manufactures about 90% of its portfolio internally, emphasizing innovation through over 60 ongoing development projects and strategic acquisitions for international expansion into Europe, Asia, and the Americas. This structure positions it as a significant player in the European pharmaceutical market, serving prescription, over-the-counter, and consumer health needs.
19.51% operating margin is respectable but not wide. ROIC at 9.77%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 1.3% YoY. The question is whether this is cyclical or a structural shift.
Net debt of €848M represents 4.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€1.17B
▼ -1.3% YoY
Net Income (TTM)
€143M
▲ +17.6% YoY
Op. Margin
20.39%
▲ +1.3pp YoY
ROIC
9.77%
▲ +1.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€241M
▲ +14.6% YoY
Op. Cash Flow (TTM)
€260M
▲ +17.4% YoY
Net Debt
€848M
Cash & Equiv.
€204M
3Y CAGR: +4.4%
3Y CAGR: -9.2%
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