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Grifols, S.A.

GRFS

Healthcare Drug Manufacturers General

Grifols, S.A.’s revenue for fiscal 2025 (year ended December 2025) was $8.5 billion, up 9.07% from fiscal 2024.

Revenue
+9.37%
EPS
+59.8%
Free cash flow
+4.11%
Total debt
−6.08%

Quarter to September 2026, against a year earlier

8.43 0.03 −0.35%
Market cap
$2.2B
P/E
18.2×
Fwd P/E
—
Dividend yield
1.12%
F-score
5/9
ROIC
4.76%
Net debt / EBITDA
5.2×
Dividend safety
54/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Net bought
—
Trades
0 sells · 0 buys
Ownership
62.1%

Capital & Financial Ratios $m

Size
Market Cap 2,180
Revenue ttm 8,822
Net income ttm 790
Free cash flow ttm 750
Net debt Q 9,835
Valuation
P/E 18.2
Forward P/E —
Price / sales 0.7
Forward P/S Powerpack
Price / FCF 7.6
Price / book 0.6
Financial health
Current ratio Q 2.3 (at or above 1.5: strong)
Debt / equity Q 1.1
Interest coverage Q 2.6
Growth
Revenue growth Q +9.4% (above 0%: growing)
Operating income growth Q +13.9% (above 0%: growing)
EPS, this year +15.6% (at or above 15%: strong)
EPS, next year A +23.6% (at or above 15%: strong)
Revenue, next year A —
EPS, past 5 yrs −8.2% (below 0%: weak)
EPS, next 5 yrs A +22.4% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates; n/m is not meaningful, as a P/E on a loss. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.8×, against a ten-year median of 3.1×; over the ten years it ranged from 1.3× in 2023 to 4.9× in 2018.
P/E against its own 10 years 29.88%
10-year low 10-year high
P/S against its own 10 years 15.51%
10-year low 10-year high
P/B against its own 10 years 14.44%
10-year low 10-year high
EV/Sales against its own 10 years 15.51%
10-year low 10-year high
EV/FCF against its own 10 years 2.68%
10-year low 10-year high

Dividends

Yield
1.12%
Annual rate
0.09
Payout ratio
20.4%
Growth, 2016–26
−12.4%/yr
  1. 0.36 ’16
  2. 0.38 ’17 +6
  3. 0.23 ’18 −39
  4. 0.40 ’19 +74
  5. 0.20 ’20 −49
  6. 0.46 ’21 +127
  7. 0.18 ’25 −61
  8. 0.09 ’26 −46
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 725 1,324 974 800
Receivables 779 847 851 1,152
Inventory 3,744 3,852 3,729 3,993
Other 183 174 187 205
6,983 6,198 5,741 6,152
2023 2024 2025 Q'26
Payables 880 922 952 —
ST’ Debt 1,108 732 625 630
Other 358 386 395 2,012
2,506 2,333 2,284 2,642

Compound Annual Growth %

10y 5y 3y
Sales 6.90% 6.89% 10.04%
Cash Flow 3.69% (1.36%) 0.00%
Earnings (2.58%) (8.43%) 27.50%
Book Value 8.90% 2.30% (1.17%)

Earnings Trends EPS, adjusted, against the consensus

Jun 2025 Estimate 0.23 Actual 0.19

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Dec 2020 0.38 0.29 Miss by 0.09
Jun 2021 0.27 0.35 Beat by 0.08
Jun 2024 0.23 0.02 Miss by 0.21
Jun 2025 0.23 0.19 Miss by 0.04

EPS $

Mar Jun Sep Dec Year
’26 — — — — —
’25 — 0.19 — 0.16 0.67
’24 — 0.02 — — 0.25
’23 — 0.09 — — 0.10
’22 — 0.14 — 0.10 0.33
’21 0.23 0.24 — (0.14) 0.32
’20 0.30 0.06 0.46 0.23 1.03
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,990 — 2,348 — —
’25 1,881 2,147 2,180 2,304 8,513
’24 — 1,958 1,972 — 7,805
’23 1,676 1,814 1,620 — 7,134
’22 — 1,642 — 3,462 6,389
’21 1,428 1,629 — 2,723 5,836
’20 1,417 1,555 1,592 1,616 6,100
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 129 263 398 — —
’25 143 187 390 464 1,185
’24 — 95 331 — 976
’23 (66) (47) 278 — 225
’22 — 34 — (38) (11)
’21 214 409 — 303 706
’20 115 491 364 332 1,268
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 23 129 270 — —
’25 50 32 259 328 711
’24 — (53) 228 — 600
’23 (134) (113) 241 — (88)
’22 — (115) — (38) (404)
’22 — — — — 0
’21 142 249 — 303 627
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten 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 4,482 4,881 5,299 5,711 6,100 5,836 6,389 7,134 7,805 8,513 8,822 +7.4% — — — —
Gross margin, % 47.22 49.84 45.68 45.92 42.23 39.78 36.80 37.84 38.75 38.00 37.55 (9.2) pt
EBT 789 786 857 915 1,004 415 381 242 480 696 763 (1.4%)
EBT margin, % 17.60 16.11 16.18 16.03 16.45 7.10 5.96 3.40 6.16 8.17 8.65 (9.4) pt
Net income 789 786 857 915 1,004 415 381 242 480 696 790 (1.4%)
Per share, $
Per share, $ Revenue 6.56 7.13 7.74 8.34 8.90 8.56 9.40 10.50 11.48 12.51 0.00 +7.4%
Earnings 0.89 1.10 1.03 1.02 1.03 0.32 0.33 0.10 0.25 0.67 0.46 (3.1%)
Cash flow 0.90 1.39 1.27 0.93 1.85 1.04 (0.02) 0.33 1.44 1.74 0.00 +7.7%
Capex (0.47) (0.53) (0.53) (0.67) (0.60) (0.12) (0.58) (0.46) (0.55) (0.70) 0.00 +4.5%
Free cash flow 0.43 0.86 0.74 0.26 1.25 0.92 (0.59) (0.13) 0.88 1.04 0.00 +10.5%
Book value 6.04 6.00 8.10 11.19 11.20 12.70 13.11 12.69 13.70 12.64 0.00 +8.6%
Shares, m 683 684 685 685 686 682 680 680 680 681 528 0.0%
Valuation, ×
Valuation, × P/E 17.89 26.00 18.73 20.33 17.64 19.76 25.31 56.58 21.15 20.22 18.23 24.4
P/S 2.45 3.43 2.55 2.92 2.04 0.39 0.63 0.00 0.75 0.75 0.65 1.6
P/B 2.67 4.07 2.62 2.97 2.00 0.42 0.91 0.00 0.94 0.74 0.60 1.7
EV/Sales 3.45 4.70 3.90 3.87 3.31 1.72 1.66 1.34 2.10 1.91 1.77 2.8
EV/FCF 53.17 44.08 38.49 52.13 33.44 25.33 1,913.18 (59.21) 51.23 25.24 20.75 217.7
Cash, $m
Cash, $m Operating cash flow 612 951 871 637 1,268 706 (11) 225 976 1,185 1,254 +7.6%
Capex (321) (364) (363) (459) (414) (79) (392) (314) (376) (474) (504) +4.4%
Free cash flow 291 587 508 178 854 627 (404) (88) 600 711 750 +10.4%
Balance, $m
Balance, $m Working capital 2,269 2,224 2,629 4,475 2,090 2,409 2,842 4,477 3,865 3,456 3,511 +4.8%
Net debt 4,476 5,832 6,255 5,306 7,352 8,899 10,709 11,242 9,678 9,936 9,835 +9.3%
Shareholders’ equity 4,125 4,107 5,547 7,667 7,676 8,657 8,911 8,629 9,314 8,602 9,488 +8.5%
Returns, %
Returns, % ROA 5.52 6.36 5.20 4.36 4.05 1.11 0.97 0.28 0.73 2.00 2.28 (3.5) pt
ROIC 7.55 7.13 6.22 6.10 4.73 2.51 2.70 2.72 4.24 4.74 4.76 (2.8) pt
ROE 15.49 18.20 14.60 10.60 9.21 2.73 2.50 0.73 1.89 5.08 5.80 (10.4) pt
People
People Employees 14,877 18,296 21,230 22,244 23,668 23,234 26,314 23,737 23,822 25,247 — +6.1%
Revenue/emp, $m 0.30 0.27 0.25 0.26 0.26 0.25 0.24 0.30 0.33 0.34 — +1.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Grifols, S.A. vs peers in Drug Manufacturers General (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
NVO Novo Nordisk A/S $134.8B 10.1× — +3.87% (above 0%: growing) −16.40% (below 0%: shrinking) +71.57% (above 0%: growing) 76.97% 29.06% Compare
BMY Bristol Myers Squibb Company $129.0B 13.7× 11.8× +6.93% (above 0%: growing) −2.02% (below 0%: shrinking) −35.95% (below 0%: shrinking) 68.28% 19.40% Compare
SNY Sanofi $111.8B 23.3× — +13.89% (above 0%: growing) +8.21% (above 0%: growing) +99.60% (above 0%: growing) 76.16% 28.53% Compare
GSK GSK PLC Sponsored ADR $101.0B 16.7× 15.3× +3.75% (above 0%: growing) −14.73% (below 0%: shrinking) +62.44% (above 0%: growing) 73.11% 23.93% Compare
BIIB Biogen Inc. $36.1B 105× 46.4× +10.63% (above 0%: growing) n/m −69.25% (below 0%: shrinking) 73.31% 4.58% Compare
OGN Organon & Co. $3.6B 17.3× 6.2× −1.75% (below 0%: shrinking) +1.64% (above 0%: growing) +118.79% (above 0%: growing) 55.21% 23.19% Compare
GRFS Grifols, S.A. $2.2B 18.2× — +9.37% (above 0%: growing) +59.78% (above 0%: growing) +4.11% (above 0%: growing) 39.56% 19.22%
AMRN Amarin Corporation PLC $244.0M — (loss-making) — (loss-making) −20.37% (below 0%: shrinking) n/m +172.64% (above 0%: growing) 40.91% (5.97%) Compare
NSRX Nasus Pharma Ltd. $34.1M — — — — −486.98% (below 0%: shrinking) — — Compare
Median of peers $68.6B 17.0× 13.6× +3.87% −2.02% +67.01% 73.11% 23.19%

All 21 Drug Manufacturers General stocks →

Grifols, S.A. (GRFS) Latest News

3 Nov

Impact 3 · · Simply Wall St.
Impact 3 · · InvestorsHub
Impact 3 · · GuruFocus.com

2 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat transcript
Impact 3 · · Investing.com

23 Oct

Impact 4 · · Insider Monkey

7 Oct

Impact 3 · · Zacks

26 Sep

Impact 3 · · Simply Wall St.

24 Sep

Impact 3 · · Zacks

14 Aug

Impact 3 ·

28 Jul

Impact 4 · transcript
Impact 4 ·
Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat transcript

16 Jul

Impact 3 ·

19 Jun

Impact 3 ·

15 Jun

Impact 4 ·

2 Jun

Impact 4 · · Insider Monkey

7 May

Impact 4 · · MarketBeat
Impact 3 · · Investing.com

19 Apr

Impact 4 · · Insider Monkey

17 Apr

Impact 3 · · Insider Monkey

30 Mar

Impact 4 · · GlobeNewswire

25 Mar

Impact 4 · · The Wall Street Journal

24 Mar

Impact 4 · · Reuters

17 Mar

Impact 3 · · GlobeNewswire

14 Mar

Impact 4 · · Simply Wall St.

13 Mar

Impact 4 · · GlobeNewswire

10 Mar

Impact 4 · · Investing.com

GRFS metrics, ten years each

stockrow.com/GRFS · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com