BONESUPPORT HOLDING AB (BONEX) AI Stock Analysis

• Market Cap: $20.36B
• Dividend Yield: N/A
• Average Volume (3M): 111.13K
• Price to Earnings (P/E): 137.6
• Beta (1Y): 0.10
• Revenue Growth: 44.52%
• EPS Growth: -49.29%
• Country: SE
• Employees: 140
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 0.80
• Shares Outstanding: 65,859,190
• 10 Day Avg. Volume: 82,295
• 30 Day Avg. Volume: 111,130
• 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: 0.90
• Enterprise Value/Revenue: 17.31
• Enterprise Value/Gross Profit: 18.70
• Enterprise Value/Ebitda: 93.61
• 1Y Price Target: $340.02
• Price Target Upside: 15.03% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 70 Outperform
• Price Target: kr340.00 ▲(15.02% Upside)

BONESUPPORT HOLDING AB demonstrates strong financial performance with robust revenue and cash flow growth, which is the most significant factor supporting the stock score. However, the high P/E ratio suggests potential overvaluation, which negatively impacts the score. Technical indicators present a neutral outlook, contributing moderately to the overall assessment.

BONESUPPORT HOLDING AB Business Overview & Revenue Model

Company Description

Bonesupport Holding AB (publ), an orthobiologics company, develops and commercializes injectable bioceramic bone graft substitutes for the treatment of bone voids in Europe, North America, and internationally. The company provides CERAMENT Bone Void Filler, an injectable, moldable, and drillable synthetic bone void filler that includes hydroxyapatite, calcium sulfate, and the radio-contrast agent iohexol; CERAMENT G, a gentamicin injectable ceramic bone graft substitute; and CERAMENT V, a vancomycin injectable synthetic bone void filler. It also develops preclinical product candidates to promote bone regrowth focusing on trauma, revision arthroplasty, chronic osteomyelitis, revision artroplasty, and oncology, as well as bone and foot infections due to diabetes. The company was founded in 1999 and is headquartered in Lund, Sweden.

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: Positive
• Last Price: 295.60
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BONEX, the sentiment is Positive. The current price of 295.6 is below the 20-day moving average (MA) of 307.60, below the 50-day MA of 310.11, and below the 200-day MA of 320.51, indicating a neutral trend. The MACD of -0.34 indicates Positive momentum. The RSI at 53.20 is Neutral, neither overbought nor oversold. The STOCH value of 33.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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	70 Outperform	$20.36B	137.55	20.14%	―	44.52%	-49.29%
S2M	61 Neutral	10.38M	-0.60	0.00%	―	0.00%	0.00%
ALIF.B	60 Neutral	23.30B	69.10	6.40%	0.39%	4.56%	185.59%
VITR	57 Neutral	17.87B	39.26	3.43%	0.83%	0.14%	0.00%
VIMIAN	57 Neutral	15.94B	62.06	3.32%	―	15.07%	117.65%
QLINEA	41 Neutral	180.20M	-0.20	-145.65%	―	16.98%	36.29%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

BONESUPPORT HOLDING AB Corporate Events

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.

BONESUPPORT HOLDING AB Reports Strong Q2 2025 Growth and Leadership Transition

BONESUPPORT HOLDING AB reported strong growth in the US market for Q2 2025, with net sales increasing by 29% and significant sales growth in North America. The company’s CERAMENT G product continues to gain traction, supported by clinical evidence and increased awareness of its benefits in treating bone infections. The US Centers for Medicare & Medicaid Services proposed extended cost coverage for CERAMENT G, indicating its growing importance in orthopedic treatments. The company is also undergoing a leadership transition, with a new CEO set to take over in September 2025.

BONESUPPORT to Release Q2 2025 Interim Report with Webcast

BONESUPPORT HOLDING AB announced it will release its Q2 2025 interim report on July 15, followed by a conference call and webcast hosted by the CEO and CFO. This event will provide insights into the company’s performance and allow stakeholders to engage directly with the management, potentially impacting investor confidence and market positioning.