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Getinge AB
(OTC:GNGBY)
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Rating:72Outperform
Price Target:
$27.00
▲(5.10% Upside)
Action:Reiterated
Date:07/18/26
Overall score reflects improving financial performance and a constructive earnings update (reiterated growth guidance, margin progress, strong cash generation). Technicals are supportive but appear overextended, and valuation is somewhat rich on a ~26.8 P/E, keeping the score in the low-70s rather than higher.
Positive Factors
Recurring, high-margin revenue mix
A large recurring and high-margin revenue base supports customer retention, cash-flow visibility and margin resilience. It also reduces reliance on one-time capital-equipment purchases and strengthens the value of Getinge’s installed base.
Negative Factors
Margins remain below prior peaks
Although profitability has recovered, margins remain below historical peaks and have been volatile over several years. This suggests that quality costs, mix, pricing and execution improvements are not yet fully durable across the business.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring, high-margin revenue mix
A large recurring and high-margin revenue base supports customer retention, cash-flow visibility and margin resilience. It also reduces reliance on one-time capital-equipment purchases and strengthens the value of Getinge’s installed base.
Read all positive factors
Getinge AB (GNGBY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.81B
Dividend Yield2.12%
Average Volume (3M)207.00
Price to Earnings (P/E)24.2
Beta (1Y)0.71
Revenue Growth7.11%
EPS Growth98.05%
CountryUS
Employees12,118
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)9.83
Shares Outstanding254,152,370
10 Day Avg. Volume35
30 Day Avg. Volume207
Financial Highlights & Ratios
PEG Ratio0.69
Price to Book (P/B)2.02
Price to Sales (P/S)1.70
P/FCF Ratio22.54
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Getinge AB Business Overview & Revenue Model
Company Description
Getinge AB (publ) is a prominent global medical technology provider, delivering comprehensive products and solutions primarily to operating rooms, intensive care units, and sterilization departments. The company operates through three distinct seg...
How the Company Makes Money
Getinge primarily makes money by selling medical technology products and related solutions to hospitals, healthcare providers, and life science customers. Key revenue streams include (1) capital equipment sales, such as systems used in operating r...
Getinge AB Earnings Call Summary
Earnings Call Date:Jul 17, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 20, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive operational and financial picture: solid organic revenue growth (+4.6%), stronger margins (adjusted EBITA margin 17.6%; rolling 12-month 15.2%/15.5% normalized), robust free cash flow (SEK 1.0bn), low leverage (1.7x), product launches, M&A to strengthen recurring consumables, and regulatory progress (510(k) submission). Offsetting risks include segment-specific weakness in WIS and parts of Surgical Workflows, APAC/China softness, supply constraints for key cardiac products, tariff regime uncertainty despite a one-off ~$36m refund, and a rise in net debt from acquisition/earn-out/dividend activity. Overall, highlights materially outweigh the lowlights based on the call.Positive Updates
Top-line Growth
Net sales grew 4.6% organically in Q2 2026, with order intake up 6.2% organically, and positive development across most business areas.
Negative Updates
Life Science Headwinds — WIS Decline
Life Science net sales fell slightly in Q2 driven by a continued decline in the WIS (legacy capital goods/service) offering due to geopolitical uncertainty and a challenging pharma investment climate; WIS remains the weakest subsegment.
Read all updates
Q2-2026 Updates
Positive
Negative
Top-line Growth
Net sales grew 4.6% organically in Q2 2026, with order intake up 6.2% organically, and positive development across most business areas.
Read all positive updates
Company Guidance
Getinge reiterated 2026 guidance for organic net sales growth of 3–5% (adjusted for the phase‑out of Surgical Perfusion, which is expected to fall from about SEK 250m to ~SEK 50m), and reminded investors of its longer‑term adjusted EBITA margin target of 16–19% by end‑2028; near‑term momentum includes Q2 organic net sales growth of 4.6% and organic order intake up 6.2%, Q2 adjusted EBITA of SEK 1.478bn (17.6% margin), rolling‑12‑month adjusted EBITA margin at 15.2% (15.5% normalized excl. tariffs), and drivers such as H2 cost releases linked to regulatory program/results (Cardiosave 510(k) submitted in June, Cardiohelp II issue resolved, ECMO submission in H2), mix shift to recurring/high‑margin products, continued productivity and ~2% price contribution for the year; financials remain strong with Q2 free cash flow of SEK 1bn, net debt SEK 11.5bn (SEK 9bn excl. pensions), cash ~SEK 2.1bn, leverage 1.7x adjusted EBITA (1.3x excl. pensions), plus a tariff/I EEPA refund of ~USD 36m, while noting ongoing tariff uncertainty and expected declines of extraordinary quality costs (peak ~SEK 800m in 2024).Getinge AB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
70
Positive
Cash Flow
77
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 34.12B | 34.97B | 34.76B | 31.83B | 28.29B | 27.05B |
| Gross Profit | 15.91B | 16.65B | 16.15B | 14.49B | 13.41B | 13.58B |
| EBITDA | 6.58B | 6.44B | 5.31B | 5.91B | 5.70B | 6.15B |
| Net Income | 2.67B | 2.26B | 1.64B | 2.41B | 2.49B | 2.97B |
Balance Sheet | ||||||
| Total Assets | 57.37B | 56.51B | 63.92B | 53.52B | 52.03B | 44.55B |
| Cash, Cash Equivalents and Short-Term Investments | 2.05B | 3.40B | 2.96B | 2.73B | 5.68B | 4.08B |
| Total Debt | 11.10B | 10.88B | 10.73B | 8.08B | 5.82B | 4.31B |
| Total Liabilities | 26.37B | 27.01B | 30.71B | 23.18B | 21.58B | 19.38B |
| Stockholders Equity | 30.95B | 29.43B | 33.01B | 30.17B | 30.04B | 24.75B |
Cash Flow | ||||||
| Free Cash Flow | 3.78B | 2.63B | 3.27B | 1.60B | 2.23B | 5.63B |
| Operating Cash Flow | 5.01B | 3.95B | 4.58B | 2.96B | 3.37B | 6.56B |
| Investing Cash Flow | -2.77B | -2.96B | -4.55B | -6.54B | -1.47B | -1.33B |
| Financing Cash Flow | -2.13B | -765.00M | 504.00M | 511.00M | -500.00M | -7.24B |
Getinge AB Technical Analysis
Neutral
25.69
Price Trends
24.10
Positive
22.31
Positive
22.05
Positive
Market Momentum
0.25
Positive
45.99
Neutral
-0.16
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GNGBY, the sentiment is Neutral. The current price of 25.69 is above the 20-day moving average (MA) of 25.46, above the 50-day MA of 24.10, and above the 200-day MA of 22.05, indicating a neutral trend. The MACD of 0.25 indicates Positive momentum. The RSI at 45.99 is Neutral, neither overbought nor oversold. The STOCH value of -0.16 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GNGBY.
Getinge AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $6.81B | 24.22 | 8.88% | 2.12% | 7.11% | 98.05% | |
72 Outperform | $21.30B | 26.23 | 11.27% | 1.20% | 8.37% | 23.94% | |
71 Outperform | $11.64B | 18.28 | 12.25% | 2.81% | 5.26% | 31.02% | |
69 Neutral | $17.97B | 22.91 | 6.36% | 1.02% | 8.62% | 0.09% | |
67 Neutral | $9.87B | 25.73 | 26.69% | ― | 29.41% | 59.39% | |
58 Neutral | $24.73B | 18.51 | 10.05% | 3.96% | ― | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
GNGBY
Getinge AB
24.86
2.37
10.55%
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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.