Friday 6 November 2026
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Bioventus Inc.
BVS Healthcare Medical Devices
Bioventus Inc.’s revenue for fiscal 2025 (year ended December 2025) was $568.1 million, down 0.91% from fiscal 2024.
- Revenue
- +2.73%
- EPS
- +100.6%
- Free cash flow
- −31.4%
- Total debt
- −28.8%
Quarter to September 2026, against a year earlier
10.51
0.17
−1.59%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 275 | 319 | 319 | 340 | 321 | 431 | 512 | 512 | 573 | 568 | 586 | +8.4% | 426 | 455 | 484 | (5.2%) | |
| Gross margin, % | 66.71 | 73.63 | 73.63 | 73.27 | 72.71 | 70.25 | 64.65 | 64.06 | 67.72 | 68.33 | 68.70 | +1.6 pt | ||||||
| EBT | (6) | 6 | 6 | 10 | 16 | 9 | (189) | (121) | (52) | 26 | 40 | n/m | ||||||
| EBT margin, % | (2.06) | 1.91 | 1.91 | 2.85 | 4.96 | 2.20 | (36.91) | (23.64) | (9.13) | 4.53 | 6.85 | +6.6 pt | ||||||
| Net income | (7) | 0 | (12) | 6 | 15 | 10 | (213) | (196) | (47) | 27 | 64 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 4.83 | 65.14 | 65.14 | 5.99 | 5.65 | 9.48 | 8.34 | 8.18 | 8.88 | 8.53 | 8.56 | +6.5% | |||||
| Earnings | (0.41) | — | — | (0.01) | — | (0.15) | (2.59) | (2.49) | (0.56) | 0.34 | 0.86 | n/m | ||||||
| Cash flow | 0.65 | 0.00 | 9.22 | 0.72 | 1.26 | 0.51 | (0.22) | 0.24 | 0.60 | 1.12 | 1.28 | +6.2% | ||||||
| Capex | 0.00 | 0.00 | (0.52) | (0.04) | (0.29) | (0.30) | (0.02) | (0.12) | (0.02) | (0.04) | (0.04) | n/m | ||||||
| Free cash flow | 0.65 | 0.00 | 8.70 | 0.68 | 0.97 | 0.21 | (0.24) | 0.13 | 0.59 | 1.08 | 1.24 | +5.8% | ||||||
| Book value | 0.00 | 0.00 | 0.00 | 2.56 | 2.54 | 11.74 | 6.71 | 3.53 | 2.88 | 3.43 | 4.27 | n/m | ||||||
| Shares, m | 57 | 5 | 5 | 57 | 57 | 45 | 61 | 63 | 65 | 67 | 68 | +1.8% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 21.92 | 21.92 | 21.92 | 21.92 | 21.92 | 32.43 | 0.00 | 0.00 | 0.00 | 21.88 | 12.32 | 16.4 | |||||
| P/S | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 1.53 | 0.31 | 0.64 | 1.18 | 0.87 | 1.24 | 0.6 | ||||||
| P/B | 0.65 | 0.65 | 0.65 | 0.65 | 0.65 | 1.23 | 0.39 | 1.49 | 3.65 | 2.17 | 2.48 | 1.2 | ||||||
| EV/Sales | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 2.25 | 1.07 | 1.34 | 1.70 | 1.30 | 1.58 | 1.1 | ||||||
| EV/FCF | 2.89 | 2.89 | 2.89 | 2.89 | 2.89 | 102.14 | (36.50) | 86.04 | 25.72 | 10.24 | 10.87 | 20.2 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 37 | 0 | 45 | 41 | 72 | 23 | (14) | 15 | 39 | 75 | 87 | +8.1% | |||||
| Capex | — | 0 | (3) | (2) | (17) | (14) | (1) | (7) | (1) | (3) | (2) | n/m | ||||||
| Free cash flow | 37 | 0 | 43 | 38 | 55 | 9 | (15) | 8 | 38 | 72 | 85 | +7.6% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | 83 | 94 | 89 | 82 | (31) | 93 | 65 | 112 | 108 | +4.4% | |||||
| Net debt | — | — | 152 | 133 | 102 | 308 | 388 | 358 | 294 | 243 | 199 | +6.9% | ||||||
| Shareholders’ equity | — | — | — | 146 | 144 | 534 | 412 | 221 | 186 | 228 | 292 | +7.8% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 0.00 | (8.12) | 0.00 | 2.90 | 3.39 | 2.25 | (12.21) | (14.31) | (4.70) | 3.22 | 8.33 | +3.2 pt | |||||
| ROIC | — | 0.00 | 10.49 | 6.99 | 5.40 | 0.89 | (13.06) | (8.82) | (1.98) | 7.16 | 7.22 | +7.2 pt | ||||||
| ROE | 0.00 | 0.00 | (12.49) | 4.71 | 11.33 | 5.72 | (33.55) | (49.34) | (17.76) | 10.98 | 22.96 | +11.0 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | 680 | 700 | 1,200 | 1,120 | 970 | 930 | 930 | — | +5.4% | |||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.00 | 0.50 | 0.46 | 0.36 | 0.46 | 0.53 | 0.62 | 0.61 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Bioventus Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| SIBN SiBone | $1.1B | — (loss-making) | — (loss-making) | +14.49% (above 0%: growing) | n/m | +31.13% (above 0%: growing) | 79.29% | (7.81%) | Compare |
| IRMD iRadimed Corporation | $1.1B | 44.9× | 39.6× | +14.15% (above 0%: growing) | +15.91% (above 0%: growing) | +18.58% (above 0%: growing) | 76.26% | 33.63% | Compare |
| AHCO AdaptHealth Corp. | $1.0B | — (loss-making) | — (loss-making) | +10.90% (above 0%: growing) | n/m | −23.58% (below 0%: shrinking) | 15.40% | (20.91%) | Compare |
| CBLL CeriBell, Inc. | $1.0B | — (loss-making) | — (loss-making) | +29.89% (above 0%: growing) | n/m | −19.65% (below 0%: shrinking) | 89.77% | (70.03%) | Compare |
| BVS Bioventus Inc. | $899.9M | 12.3× | 17.2× | +2.73% (above 0%: growing) | +100.60% (above 0%: growing) | −31.40% (below 0%: shrinking) | 68.19% | 6.81% | |
| QDEL QuidelOrtho Corporation | $880.5M | — (loss-making) | — (loss-making) | −11.57% (below 0%: shrinking) | n/m | +120.70% (above 0%: growing) | 46.79% | (1.21%) | Compare |
| BBNX Beta Bionics, Inc. | $842.1M | — (loss-making) | — (loss-making) | +30.28% (above 0%: growing) | n/m | −45.46% (below 0%: shrinking) | 57.26% | (74.94%) | Compare |
| KIDS OrthoPediatrics Corp. | $841.3M | — (loss-making) | — (loss-making) | +18.63% (above 0%: growing) | n/m | +146.64% (above 0%: growing) | 74.28% | (5.81%) | Compare |
| INMD InMode Ltd. | $771.1M | 10.7× | 11.8× | −0.01% (below 0%: shrinking) | −30.95% (below 0%: shrinking) | −12.63% (below 0%: shrinking) | 74.82% | 12.82% | Compare |
| Median of peers | $945.3M | — | — | +14.32% | — | +2.98% | 74.55% | (6.81%) |