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Almirall
(BME:ALM)
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Rating:62Neutral
Price Target:
€11.00
▲(5.77% Upside)
Action:Reiterated
Date:07/28/26
The score is primarily supported by improved TTM financial performance and a conservative balance sheet, but is held back by valuation (high P/E with only modest yield) and a still-weak longer-term technical trend (below the 100-day and 200-day averages).
Positive Factors
Revenue and profit rebound
The sharp TTM revenue acceleration and return to profitability indicate stronger commercial performance and product contribution than in prior periods. If sustained, this recovery can improve operating leverage, support investment in the dermatology portfolio, and strengthen the company’s earnings base over the next several quarters.
Negative Factors
Volatile earnings history
The recent profit recovery has not yet established a consistently durable earnings pattern because the multi-year record includes losses and periods of very low earnings. Such volatility makes future profitability less predictable and reduces confidence that current margins will persist through normal product and market cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and profit rebound
The sharp TTM revenue acceleration and return to profitability indicate stronger commercial performance and product contribution than in prior periods. If sustained, this recovery can improve operating leverage, support investment in the dermatology portfolio, and strengthen the company’s earnings base over the next several quarters.
Read all positive factors
Almirall (ALM) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€2.27B
Dividend Yield1.77%
Average Volume (3M)121.11K
Price to Earnings (P/E)31.5
Beta (1Y)0.64
Revenue Growth9.67%
EPS Growth174.00%
CountryES
Employees2,097
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.33
Shares Outstanding217,777,330
10 Day Avg. Volume125,204
30 Day Avg. Volume121,115
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)1.85
Price to Sales (P/S)2.49
P/FCF Ratio20.54
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.39
Revenue Forecast (FY)€1.23B
Almirall Business Overview & Revenue Model
Company Description
Almirall, S.A. is a biopharmaceutical firm dedicated to the discovery, development, production, and commercialization of treatments primarily focused on skin health. Operating globally, with a significant presence in Europe and the United States, ...
How the Company Makes Money
Almirall makes money mainly by selling prescription dermatology medicines and related products to healthcare systems, hospitals, pharmacies, and distributors, particularly in Europe. Revenue is generated from (1) net product sales of its own marke...
Almirall Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.41B | 1.11B | 985.72M | 894.52M | 863.25M | 827.20M |
| Gross Profit | 1.04B | 456.65M | 767.68M | 577.12M | 680.78M | 655.61M |
| EBITDA | 482.25M | 218.90M | 173.80M | 114.33M | 157.01M | 132.34M |
| Net Income | 71.74M | 46.20M | 10.15M | -38.47M | 4.28M | -40.86M |
Balance Sheet | ||||||
| Total Assets | 2.37B | 2.34B | 2.40B | 2.37B | 2.15B | 2.14B |
| Cash, Cash Equivalents and Short-Term Investments | 355.41M | 338.82M | 377.30M | 388.09M | 248.82M | 207.39M |
| Total Debt | 363.67M | 342.86M | 408.81M | 403.25M | 403.88M | 396.11M |
| Total Liabilities | 836.70M | 829.74M | 908.28M | 911.59M | 828.98M | 855.71M |
| Stockholders Equity | 1.53B | 1.49B | 1.49B | 1.46B | 1.32B | 1.29B |
Cash Flow | ||||||
| Free Cash Flow | 328.56M | 134.29M | -664.00K | -65.82M | 38.62M | 162.70M |
| Operating Cash Flow | 329.15M | 169.20M | 160.77M | 93.48M | 155.10M | 233.85M |
| Investing Cash Flow | -178.36M | -132.94M | -140.04M | -122.56M | -68.54M | -57.26M |
| Financing Cash Flow | -65.51M | -75.59M | -31.58M | 168.21M | -45.12M | -134.88M |
Almirall Technical Analysis
Negative
10.40
Price Trends
10.87
Negative
11.25
Negative
11.88
Negative
Market Momentum
-0.14
Negative
42.09
Neutral
64.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:ALM, the sentiment is Negative. The current price of 10.4 is below the 20-day moving average (MA) of 10.47, below the 50-day MA of 10.87, and below the 200-day MA of 11.88, indicating a bearish trend. The MACD of -0.14 indicates Negative momentum. The RSI at 42.09 is Neutral, neither overbought nor oversold. The STOCH value of 64.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ES:ALM.
Almirall Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | €958.64M | 21.08 | 41.91% | 2.67% | 10.89% | 17.12% | |
62 Neutral | €2.27B | 31.45 | 4.78% | 1.77% | 9.67% | 174.00% | |
61 Neutral | €1.41B | 10.38 | 18.19% | 2.83% | 31.88% | -20.09% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | €223.95M | 32.11 | 3.14% | 0.71% | -0.42% | 4.56% |
* General Sector Average
ES:ALM
Almirall
10.42
-0.65
-5.90%
ES:CBAV
Clinica Baviera
58.80
14.76
33.51%
ES:FAE
Faes Farma
4.52
0.31
7.45%
ES:RJF
LABORATORIO REIG JOFRE
2.72
-0.13
-4.49%
Almirall Corporate Events
Almirall Reports Q2 2026 Activity Under Share Liquidity Contract
Jul 30, 2026
Almirall disclosed the quarterly activity of its longstanding liquidity contract with Santander Investment Bolsa, detailing share and cash movements executed between 1 April and 30 June 2026 under CNMV rules. The company reported purchases of 582,...
Almirall Sells Actithiol Franchise in Portfolio Optimisation Move
Jul 1, 2026
Almirall has agreed to divest its Actithiol franchise, a group of mucolytic products used to relieve symptoms such as excess mucus, cough and nasal congestion, as part of its ongoing portfolio optimisation strategy. The transaction, valued at 15 m...
Almirall Details Q1 2026 Activity Under Share Liquidity Contract
Jun 18, 2026
Almirall reported the activity under its ongoing liquidity contract with Santander Investment Bolsa for the quarter from 1 January to 31 March 2026, detailing share purchases, sales, and resulting balances. During the period, the intermediary exec...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.