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Vitrolife AB
(VITR)
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Rating:61Neutral
Price Target:
kr108.00
▼(-18.80% Downside)
Action:Reiterated
Date:10/23/26
The score is primarily held back by weak financial performance driven by very large recent losses and negative profitability, despite moderate leverage and still-positive (but weakening) free cash flow. Technicals are supportive with a clear uptrend and positive MACD, though momentum is nearing overbought levels. The latest earnings call adds support through improving growth/margins and restructuring execution, but ongoing China weakness, cost inflation, and sustainability of high tech growth remain key risks; valuation is constrained by negative earnings.
Positive Factors
Recurring consumables model
The consumables model creates recurring demand tied to ongoing IVF procedures rather than relying only on infrequent equipment sales. This replenishment dynamic can support revenue visibility, strengthen clinic relationships, and provide a durable base for cross-selling instruments, software, and genetic-testing workflows.
Negative Factors
Deep profitability weakness
Large operating and net losses materially weaken earnings quality despite a healthy gross margin and relatively stable revenue. Continued losses can erode shareholder value, constrain internally funded investment, and make future performance more dependent on successful cost reduction and operational recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables model
The consumables model creates recurring demand tied to ongoing IVF procedures rather than relying only on infrequent equipment sales. This replenishment dynamic can support revenue visibility, strengthen clinic relationships, and provide a durable base for cross-selling instruments, software, and genetic-testing workflows.
Read all positive factors
Vitrolife AB (VITR) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr14.75B
Dividend Yield1.01%
Average Volume (3M)168.50K
Price to Earnings (P/E)―
Beta (1Y)0.46
Revenue Growth-1.94%
EPS Growth-1223.74%
CountrySE
Employees1,088
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)-36.60
Shares Outstanding135,447,190
10 Day Avg. Volume192,621
30 Day Avg. Volume168,505
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)2.35
Price to Sales (P/S)5.39
P/FCF Ratio40.33
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)4.33
Revenue Forecast (FY)kr3.50B
Vitrolife AB Business Overview & Revenue Model
Company Description
Vitrolife AB (publ) is a medical technology company specializing in the development, production, and global sale of products for assisted reproduction. Their comprehensive offering includes a variety of essential tools for fertility treatments, su...
How the Company Makes Money
Vitrolife makes money primarily by selling products and solutions to fertility clinics, IVF laboratories, and other reproductive health customers, with revenue generally derived from recurring consumables and from higher-value equipment and softwa...
Vitrolife AB Earnings Call Summary
Earnings Call Date:Oct 22, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jan 28, 2027
Earnings Call Sentiment Positive
The call was clearly positive overall. The company reported 6% group organic growth, higher EBITDA and margins, strong technology momentum, progress on restructuring, improving regional IVF and reimbursement trends, and a record innovation pipeline. These positives outweighed the challenges, which included weak Chinese IVF cycles, APAC consumables declines, Middle Eastern softness, higher material and inflationary costs, lower year-over-year operating cash flow and a slight increase in leverage.Positive Updates
Strong Technology Growth and EmbryoScope Demand
Technologies delivered 21% organic growth in the quarter, driven by all regions. EmbryoScope penetration and utilization increased, the company manufactured and shipped its highest number of EmbryoScopes ever, and management said the technology sales funnel remains strong.
Negative Updates
China IVF Cycles Remained Down
IVF cycles in China, the largest IVF market in APAC, were down year over year and management said this is likely to remain the case in 2027. The company attributed the weakness primarily to demographics, with affordability also a factor, despite improving state aid and reimbursement.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Technology Growth and EmbryoScope Demand
Technologies delivered 21% organic growth in the quarter, driven by all regions. EmbryoScope penetration and utilization increased, the company manufactured and shipped its highest number of EmbryoScopes ever, and management said the technology sales funnel remains strong.
Read all positive updates
Company Guidance
Management said 21% growth in technologies was “very high” and that maintaining “these type of growth levels” would be “tough,” although the funnel looks good; China’s cycles are “likely to stay that way in 2027,” while most other APAC markets are growing, albeit with “lower growth than we see in Americas or lower growth than we see in Western Europe.” The Americas Latin America headwind is expected to continue until “probably end of Q1,” with declines “slowing” and the trend “flattening out,” while Western Europe consumables growth was “high single digits.” The restructuring program remains “on plan and on time,” targeting annual savings of SEK 65 million, with an 8% gross headcount reduction, a 2.5% headcount addition in sales and marketing, IT and other roles, and a 5.5% net headcount reduction; management said there were “no major changes in headcount additions, but still some more to do.” 2027 is “set to be our best ever year” for the number and size of product launches, although revenue takes “a little bit of time” to filter through, and the time from Gate 4 to launch has been “halved from previous quarters.”Vitrolife AB Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
55
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.44B | 3.44B | 3.61B | 3.51B | 3.23B | 1.68B |
| Gross Profit | 1.98B | 2.00B | 2.13B | 1.98B | 1.79B | 1.05B |
| EBITDA | -4.35B | -4.39B | 1.23B | -3.19B | 977.00M | 579.60M |
| Net Income | -4.96B | -5.01B | 513.00M | -3.85B | 394.00M | 341.00M |
Balance Sheet | ||||||
| Total Assets | 11.42B | 11.12B | 17.45B | 16.33B | 20.55B | 19.43B |
| Cash, Cash Equivalents and Short-Term Investments | 860.00M | 809.00M | 1.14B | 861.00M | 578.00M | 630.09M |
| Total Debt | 1.73B | 1.60B | 2.09B | 2.09B | 2.23B | 2.48B |
| Total Liabilities | 3.30B | 3.23B | 3.81B | 3.61B | 3.81B | 4.09B |
| Stockholders Equity | 8.12B | 7.89B | 13.64B | 12.72B | 16.74B | 15.32B |
Cash Flow | ||||||
| Free Cash Flow | 603.00M | 460.00M | 815.00M | 638.00M | 549.00M | 321.86M |
| Operating Cash Flow | 696.00M | 635.00M | 907.00M | 757.00M | 636.00M | 384.31M |
| Investing Cash Flow | -215.00M | -302.00M | -377.00M | -124.00M | -144.00M | -6.52B |
| Financing Cash Flow | -751.00M | -553.00M | -286.00M | -300.00M | -582.00M | 5.75B |
Vitrolife AB Technical Analysis
Positive
133.00
Price Trends
94.54
Positive
92.19
Positive
96.65
Positive
Market Momentum
3.21
Negative
75.77
Negative
93.95
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:VITR, the sentiment is Positive. The current price of 133 is above the 20-day moving average (MA) of 97.09, above the 50-day MA of 94.54, and above the 200-day MA of 96.65, indicating a bullish trend. The MACD of 3.21 indicates Negative momentum. The RSI at 75.77 is Negative, neither overbought nor oversold. The STOCH value of 93.95 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:VITR.
Vitrolife AB Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | kr4.08B | 31.61 | 14.59% | 1.61% | -1.64% | -14.61% | |
67 Neutral | kr73.00B | 25.79 | 9.13% | 1.77% | -3.90% | 37.73% | |
64 Neutral | kr6.37B | 49.44 | 5.89% | ― | 17.83% | 330.94% | |
61 Neutral | kr14.75B | -2.98 | -61.57% | 1.01% | -1.94% | -1223.74% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | kr551.94M | 87.50 | 1.93% | ― | -0.51% | ― | |
52 Neutral | kr1.70B | -2.02 | -49.84% | ― | -15.45% | -164.23% |
* General Sector Average
SE:VITR
Vitrolife AB
108.90
-36.90
-25.31%
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Vitrolife AB Corporate Events
Vitrolife lifts margins and launches major buyback as technologies drive growth
Oct 22, 2026
Vitrolife AB reported third-quarter sales of SEK 884 million, representing 6% organic growth in local currencies excluding exited product lines and 4% total growth in local currencies. Regional performance was strongest in EMEA and the Technologie...
Vitrolife schedules Q3 2026 report release and investor webcast
Oct 7, 2026
Vitrolife AB will publish its interim report for the third quarter of 2026 on 22 October, with the release scheduled for 08:00 am CET. The company will follow the publication with a conference call and webcast for investors, analysts and financial...
Vitrolife expands Americas leadership as Erin Schardt joins executive team
Aug 13, 2026
Vitrolife Group has expanded the role of Erin Schardt, appointing her Senior Vice President and General Manager, Americas, with responsibility for both North and South America, and adding her to the Executive Management Team. The move recognizes h...
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.