Sartorius AG

Financial Performance

5Y price score: (100)

10Y return: 184.4%

DATE RANGE:

EUR Per
Share

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154.2

52-week range

208.0

193.4

Your model inputs

Required return / cost of capital

FCFF terminal growth rate

Your fair value & Margin of safety

To calculate fair value based on cost of capital and terminal growth assumptions above, please select free cash flow forecast.

Forecast:

Valuation

Free Cash Flow Yield

2.2 %

Dividend Yield TTM

0.3 %

Market cap

16,448

Price / Earnings TTM

68.3

Price / Book TTM

PEG TTM

0.7

Earnings growth and return

LTM

5YR

10YR

Total return (price & dividends)

21 %

(70.2) %

184.4 %

Free cash flow per share growth

42.3 %

(21.8) %

1,418.5 %

Earnings per share growth

102.1 %

(52.3) %

21.1 %

Founded: 1,870

Employees: 13,762

Business Summary:Sartorius Aktiengesellschaft provides bioprocess solutions and lab products and services worldwide. The company offers biosensors and kits, compliance tools, systems software, label-free detection systems, and SPR systems; live-cell analysis systems, flow cytometry platform, and cell analysis reagents and consumables; and antibody and recombinant protein media, viral vaccines media, regenerative medicine media, general media, downstream buffer, microcarrier, and stem cell media and reagent products, as well as strong acids, bases, and alcohols and detergents. It also provides multi-parallel bioreactors, benchtop bioreactors, single-use bioreactors, stainless steel bioreactors, cell culture bioreactors, microbial bioreactors, and software apps for bioreactors; membranes, blotting products, filter papers, glass and quartz microfibre products, and filtration equipment; syringe filters; and filtration devices, ultrafiltration devices, sterile filtration devices, harvesting devices, analytical sample prep systems, buffer exchange systems, diagnostic sample prep systems, particle analysis systems, pharmaceutical filtration systems, protein DNA concentration systems, venting moisture barriers, clarification systems, buffer and media products, and membrane chromatography products. In addition, the company offers process filtration products; process filtration products; process chromatography products; fluid management products; process analytical technology and data analytics; industrial microbiology systems; water purification systems; weighing systems; pipetting and dispensing systems; OEM systems; and centrifuges. Further, it provides bioprocess development and engineering, protein expression system, media and process, testing, instrument, and validation services. It serves the life science research, biopharmaceutical manufacturing, quality control and testing, and applied industries. The company was founded in 1870 and is headquartered in Göttingen, Germany.

Fair Value Reference Estimate

Latest Earnings Call Takeaways

2026 Q2 (Jul 23, 2026)

1) Strategy & Leadership - CEO Michael Grosse emphasized the strong demand for high-performance single-use products and AI-driven solutions in bioprocessing, indicating a robust long-term growth outlook. - The company is well-positioned to leverage its portfolio to capture opportunities in biologics development and manufacturing, including advanced therapies. - Sartorius remains committed to financial discipline and maintaining a strong balance sheet, with a focus on profitable growth and sustainable shareholder value.

2) Financial & Segment Results - Group sales revenue increased by 7.7% operationally in H1 2026, with bioprocessing solutions growing 8.3% and lab products and services increasing 5.3%. - The underlying EBITDA margin improved to 30.3%, driven by higher volumes and operating leverage. - Free cash flow surged by 70% to EUR 208 million, supported by strong cash generation and lower tax payments.

Metric	H1 2026 (Operational)	H1 2025 (Operational)	YoY Change
Group Sales Revenue	7.7%	N/A	N/A
Bioprocess Solutions	8.3%	N/A	N/A
Lab Products & Services	5.3%	N/A	N/A
EBITDA Margin	30.3%	N/A	N/A
Free Cash Flow	70%	N/A	N/A

3) Problems / Headwinds - The company faced challenges from U.S. tariff-related impacts, which dampened reported revenue growth by approximately 1.5 percentage points in H1. - Delayed orders from two major customers in advanced therapies affected recurring revenue growth, with expectations of recovery in late 2026 or early 2027. - Tariff surcharges that supported growth in H1 are expected to turn into a headwind in H2, impacting growth rates.

4) Operational or Product Plans - Sartorius is focused on innovation, with successful launches including the Bionic Modules and the Ambr 250 bioreactor platform, enhancing their product offerings in bioprocessing. - The company is investing in future growth areas, particularly in bioanalytics and advanced research solutions, which may temporarily weigh on margins but are expected to drive long-term growth. - The outlook for H2 remains positive, with expectations of continued growth in consumables and stabilization in equipment sales.

5) Guidance & Outlook / Investor Angle - Sartorius confirmed its full-year guidance, expecting group sales revenue growth of 5% to 9% and an underlying EBITDA margin slightly above 30%. - The company anticipates that the strong demand for consumables and the recovery in equipment will support growth, despite the potential headwinds from tariffs. - The management remains confident in achieving operational growth targets, with a focus on maintaining financial discipline and a solid balance sheet.

Bottom line: Sartorius is on a solid growth trajectory, driven by strong demand in bioprocessing and lab products, despite facing some headwinds from tariffs and delayed orders. The company maintains a positive outlook for the remainder of the year, reinforcing its commitment to innovation and financial discipline, making it a compelling investment for shareholders.

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