BONESUPPORT HOLDING AB (BONEX) AI Stock Analysis

• Market Cap: kr13.10B
• Dividend Yield: N/A
• Average Volume (3M): 282.00K
• Price to Earnings (P/E): 84.0
• Beta (1Y): 0.12
• Revenue Growth: 37.41%
• EPS Growth: 67.03%
• Country: SE
• Employees: 140
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 0.52
• Shares Outstanding: 65,859,190
• 10 Day Avg. Volume: 396,425
• 30 Day Avg. Volume: 282,005
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 2.73
• Revenue Forecast (FY): kr1.20B

• Rating: 68 Neutral
• Price Target: kr230.00 ▼(-10.16% Downside)

BONESUPPORT HOLDING AB's strong financial performance and positive earnings call sentiment are offset by technical analysis indicating bearish momentum and a high valuation suggesting overvaluation. The company's robust cash flow and strategic product performance are significant strengths, but challenges in key markets and valuation concerns weigh on the overall score.

BONESUPPORT HOLDING AB Business Overview & Revenue Model

Company Description

BONESUPPORT HOLDING AB (BONEX) is a Swedish medical technology company that specializes in the development and commercialization of innovative solutions for the treatment of bone and tissue injuries. The company primarily operates in the orthopedic and trauma sectors, focusing on biomaterials that promote bone healing. BONEX's core products include a range of injectable bone graft substitutes and advanced scaffolding solutions designed to facilitate regeneration and repair in various orthopedic applications.

How the Company Makes Money

BONESUPPORT HOLDING AB generates revenue through the sale of its medical products, primarily its injectable bone graft substitutes and related orthopedic solutions. The company sells its products directly to hospitals and surgical centers, as well as through strategic partnerships with medical device distributors. Key revenue streams include product sales from various markets worldwide, with a focus on Europe and North America. Additionally, BONEX may benefit from collaborations with research institutions and healthcare providers to further develop its technologies, which can lead to licensing agreements or joint ventures that contribute to its overall earnings.

BONESUPPORT HOLDING AB Financial Statement Overview

Summary

BONESUPPORT HOLDING AB presents a strong financial position with impressive growth in revenue and cash flow. The company maintains high profitability margins and a solid balance sheet with low leverage. While there is a slight decline in net profit margin, the overall financial health remains robust, supported by effective cost management and strong cash generation capabilities.

Income Statement

BONESUPPORT HOLDING AB has shown strong revenue growth with a 6.48% increase in TTM. The company maintains a high gross profit margin of 92.59%, indicating efficient cost management. However, the net profit margin has slightly decreased from 14.88% in the previous year to 13.93% in TTM, suggesting some pressure on profitability. Overall, the income statement reflects a solid growth trajectory with robust margins.

Balance Sheet

The company exhibits a strong balance sheet with a low debt-to-equity ratio of 0.016, indicating minimal leverage and financial stability. The return on equity is impressive at 20.22%, reflecting effective use of shareholder funds. The equity ratio stands at 82.76%, showcasing a strong equity base relative to total assets, which enhances financial resilience.

Cash Flow

BONESUPPORT HOLDING AB has demonstrated significant improvement in cash flow, with a remarkable 128.44% growth in free cash flow. The operating cash flow to net income ratio of 1.32 indicates strong cash generation relative to earnings. The free cash flow to net income ratio is high at 0.98, suggesting efficient conversion of earnings into cash. Overall, the cash flow statement highlights robust cash generation and growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.06B	898.73M	591.08M	328.82M	212.88M	180.86M
Gross Profit	983.80M	832.25M	540.92M	297.71M	189.70M	161.60M
EBITDA	196.50M	185.75M	28.94M	-54.34M	-72.39M	-90.91M
Net Income	147.98M	133.75M	245.02M	-68.17M	-85.53M	-101.41M
Balance Sheet
Total Assets	962.82M	879.69M	688.82M	371.82M	343.92M	465.22M
Cash, Cash Equivalents and Short-Term Investments	309.68M	227.00M	167.35M	201.28M	206.46M	353.74M
Total Debt	12.68M	14.59M	17.48M	17.45M	21.42M	10.48M
Total Liabilities	166.11M	152.23M	143.64M	102.89M	78.22M	66.32M
Stockholders Equity	796.72M	727.46M	545.18M	268.93M	265.70M	398.90M
Cash Flow
Free Cash Flow	207.03M	59.92M	-24.32M	-50.26M	-86.84M	-102.93M
Operating Cash Flow	211.95M	65.76M	-18.26M	-46.98M	-83.42M	-100.28M
Investing Cash Flow	-5.56M	-6.26M	-6.06M	-3.28M	-3.42M	-2.66M
Financing Cash Flow	-5.73M	-4.81M	-6.70M	42.78M	-61.56M	365.34M

BONESUPPORT HOLDING AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 256.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BONEX, the sentiment is Negative. The current price of 256 is above the 20-day moving average (MA) of 237.52, below the 50-day MA of 275.32, and below the 200-day MA of 300.86, indicating a bearish trend. The MACD of -21.38 indicates Positive momentum. The RSI at 15.20 is Positive, neither overbought nor oversold. The STOCH value of 3.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:BONEX.

BONESUPPORT HOLDING AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BONEX	68 Neutral	kr13.10B	84.05	19.59%	―	37.41%	67.03%
VITR	67 Neutral	kr18.98B	43.02	3.34%	0.78%	-1.29%	―
VIMIAN	66 Neutral	€15.69B	44.40	4.63%	―	17.13%	―
S2M	61 Neutral	€9.79M	-0.55	―	―	―	―
ALIF.B	60 Neutral	$24.27B	61.55	7.24%	0.39%	5.14%	236.75%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
QLINEA	38 Underperform	€478.92M	-0.27	-330.10%	―	270.64%	62.29%

BONESUPPORT HOLDING AB Corporate Events

BONESUPPORT Corrects Q3 2025 Interim Report Error

BONESUPPORT HOLDING AB announced a correction in its Q3 2025 interim report, specifically in the section detailing non-IFRS alternative performance measures. The error pertained to the US net sales at constant exchange rates, which should have been reported as SEK 269.6 million with a 40% growth rate. This correction does not affect the main financial statements, ensuring the integrity of the overall financial report.

The most recent analyst rating on (SE:BONEX) stock is a Hold with a SEK270.00 price target. To see the full list of analyst forecasts on BONESUPPORT HOLDING AB stock, see the SE:BONEX Stock Forecast page.

BONESUPPORT Reports Strong Q3 2025 Growth

BONESUPPORT HOLDING AB is a company specializing in the development and commercialization of innovative injectable bioceramic bone graft substitutes, primarily serving the orthopedic sector. The company is known for its CERAMENT platform, which is used to treat bone infections and other orthopedic conditions.

BONESUPPORT’s Earnings Call: Strong Growth Amid Challenges

BONESUPPORT HOLDING AB’s recent earnings call conveyed a generally positive sentiment, underscored by notable sales growth and successful product performance, particularly in the U.S. market with CERAMENT G. The company demonstrated robust cash flow and strategic advancements, such as the publication of the CeraHip study. However, these achievements were somewhat overshadowed by currency impacts, challenges in key markets like Germany and the UK, technical disruptions during the call, and declines in certain product sales.

BONESUPPORT Reports Robust Q3 2025 Growth and Strategic Advancements

BONESUPPORT HOLDING AB reported strong financial growth in Q3 2025, with a 24% increase in net sales and a 92.9% gross margin. The US segment showed significant growth, supported by new Medicare reimbursement approvals and positive clinical study results, enhancing the company’s market positioning and operational impact.

The most recent analyst rating on (SE:BONEX) stock is a Hold with a SEK297.00 price target. To see the full list of analyst forecasts on BONESUPPORT HOLDING AB stock, see the SE:BONEX Stock Forecast page.

BONESUPPORT to Release Q3 2025 Interim Report with Conference Call

BONESUPPORT HOLDING AB announced it will release its Q3 2025 interim report on October 23, followed by a conference call and online presentation hosted by the CEO and CFO. This event is significant as it provides stakeholders with insights into the company’s financial performance and strategic direction, potentially impacting its market positioning and investor relations.

The most recent analyst rating on (SE:BONEX) stock is a Hold with a SEK297.00 price target. To see the full list of analyst forecasts on BONESUPPORT HOLDING AB stock, see the SE:BONEX Stock Forecast page.

BONESUPPORT’s CERAMENT® G Shows Promising Results in Hip Implant Infection Management

BONESUPPORT HOLDING AB announced positive results from a clinical study demonstrating the effectiveness of CERAMENT® G in managing periprosthetic joint infections (PJI) of the hip. Conducted at Charité – Universitätsmedizin Berlin, the study showed no infection recurrence in patients over a 24-month follow-up period, highlighting significant improvements in patient-reported outcomes. This advancement positions CERAMENT G as a promising solution for single-stage revision surgeries, potentially impacting the standard of care in orthopedic surgery by reducing the risk of reinfection compared to the traditional two-stage procedure.

The most recent analyst rating on (SE:BONEX) stock is a Buy with a SEK346.00 price target. To see the full list of analyst forecasts on BONESUPPORT HOLDING AB stock, see the SE:BONEX Stock Forecast page.

BONESUPPORT’s CERAMENT Shows Promising Results in Developing Markets

BONESUPPORT announced promising results from a study presented at the European Bone and Joint Infection Society meeting, demonstrating that their CERAMENT G and CERAMENT V products are effective in treating post-traumatic and chronic bone infections in resource-limited settings. The study’s success in a developing market underscores the products’ versatility and potential for global application, reinforcing their efficacy and safety without reliance on advanced infrastructure.

The most recent analyst rating on (SE:BONEX) stock is a Buy with a SEK346.00 price target. To see the full list of analyst forecasts on BONESUPPORT HOLDING AB stock, see the SE:BONEX Stock Forecast page.

BONESUPPORT’s CERAMENT G Gains NTAP Approval from CMS

BONESUPPORT announced that the U.S. Centers for Medicare & Medicaid Services (CMS) has approved CERAMENT G for a New Technology Add-On Payment (NTAP) for treating open fractures, effective October 1, 2025. This approval allows hospitals to receive additional reimbursement, potentially impacting the company’s market presence and offering financial benefits to healthcare providers using their products.