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Spanish (IBEX) Healthcare Sector Analysis

UpdatedJan 02, 2026
DataAggregated Company Financials
Companies13
  • 7D-0.8%
  • 3M-4.4%
  • 1Y17.8%
  • YTDn/a

The Healthcare industry has stayed flat over the last week. As for the the longer term, the industry is up 18% over the past 12 months. Earnings are forecast to grow by 27% annually.

Sector Valuation and Performance

Has the Spanish Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 02 Jan 2026€17.2b€11.3b€706.2m26.8x24.4x1.5x
Sun, 30 Nov 2025€16.7b€11.3b€699.4m25.1x23.9x1.5x
Tue, 28 Oct 2025€17.4b€11.1b€621.8m25.6x28.1x1.6x
Thu, 25 Sep 2025€17.3b€11.1b€621.8m25.2x27.9x1.6x
Sat, 23 Aug 2025€17.4b€11.1b€610.7m25.4x28.4x1.6x
Mon, 21 Jul 2025€16.8b€11.0b€507.4m20.8x33.1x1.5x
Wed, 18 Jun 2025€16.0b€11.0b€507.4m21.5x31.6x1.5x
Fri, 16 May 2025€14.4b€11.0b€506.5m23.3x28.4x1.3x
Sun, 13 Apr 2025€13.1b€10.6b€458.2m19.4x28.7x1.2x
Tue, 11 Mar 2025€15.1b€10.8b€455.7m19.9x33.2x1.4x
Thu, 06 Feb 2025€14.5b€10.6b€392.4m20.4x37.1x1.4x
Sat, 04 Jan 2025€14.7b€10.6b€392.4m19.6x37.5x1.4x
Mon, 02 Dec 2024€14.4b€10.6b€392.5m20x36.6x1.4x
Wed, 30 Oct 2024€16.1b€10.2b€389.8m20.9x41.3x1.6x
Fri, 27 Sep 2024€15.2b€10.2b€394.8m15.6x38.4x1.5x
Sun, 25 Aug 2024€15.1b€10.2b€399.9m15x37.7x1.5x
Tue, 23 Jul 2024€15.4b€10.0b€405.9m20.5x38x1.5x
Thu, 20 Jun 2024€14.8b€10.0b€405.9m20x36.4x1.5x
Sat, 18 May 2024€15.5b€10.0b€396.3m19.1x39.2x1.5x
Mon, 15 Apr 2024€13.9b€10.0b€295.5m20x47.2x1.4x
Wed, 13 Mar 2024€13.4b€10.0b€289.0m20.7x46.2x1.3x
Fri, 09 Feb 2024€14.3b€10.0b€331.9m17.8x43.1x1.4x
Sun, 07 Jan 2024€16.8b€10.0b€332.6m17.5x50.6x1.7x
Tue, 05 Dec 2023€15.6b€10.0b€332.5m17.1x46.9x1.6x
Thu, 02 Nov 2023€13.6b€9.8b€294.2m18.2x46.2x1.4x
Sat, 30 Sep 2023€15.0b€9.8b€311.0m19x48.2x1.5x
Mon, 28 Aug 2023€15.4b€9.8b€311.0m19.4x49.5x1.6x
Wed, 26 Jul 2023€14.6b€9.6b€362.6m21.3x40.2x1.5x
Fri, 23 Jun 2023€13.6b€9.6b€364.6m20x37.2x1.4x
Sun, 21 May 2023€13.8b€9.6b€366.6m22.3x37.5x1.4x
Tue, 18 Apr 2023€12.6b€9.3b€563.7m18.3x22.4x1.4x
Thu, 16 Mar 2023€12.6b€9.3b€564.2m19.2x22.4x1.4x
Sat, 11 Feb 2023€15.5b€8.4b€430.5m14.2x36x1.9x
Mon, 09 Jan 2023€14.3b€8.4b€430.5m13.8x33.3x1.7x
Price to Earnings Ratio

33.3x


Total Market Cap: €14.3bTotal Earnings: €430.5mTotal Revenue: €8.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Spanish Healthcare Sector Price to Earnings3Y Average 36.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Spanish Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 24.4x which is lower than its 3-year average PE of 36.6x.
  • The industry is trading close to its 3-year average PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 18% per year over the last three years.
  • Revenues for these companies have grown 10% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Spanish Healthcare sector?

ES Market0.81%
Healthcare-0.80%
Healthcare Services4.86%
Life Sciences1.17%
Pharma0.38%
Medical Equipment0%0
Biotech-2.61%
Industry PE
  • Investors are most optimistic about the Healthcare Services industry which is trading above its 3-year average PE ratio of 34.7x.
    • Analysts are expecting annual earnings growth of 99.9%, which is higher than its past year's earnings growth of 9.2% per year.
  • Investors are most pessimistic about the Medical Equipment industry, which is trading below its 3-year average of 17.3x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Services industry, expecting annual earnings growth of 100% over the next 5 years.
  • This is better than its past earnings growth rate of 9.2% per year.
  • In contrast, the Pharma industry is expected to see its earnings grow by 22% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
GRF Grifols€11.201.9%
+€139.5m		19.1%PE20.4x
ROVI Laboratorios Farmaceuticos Rovi€63.351.0%
+€33.2m		0.3%PE26.7x
CBAV Clínica Baviera€49.303.4%
+€25.6m		50.3%PE19.5x
ALM Almirall€12.900.6%
+€17.2m		56.3%PE65.9x
ATRY Atrys Health€2.927.0%
+€14.4m		-16.6%PS1x

Latest News

FAE
€5.22
Faes Farma
7D
0.2%
1Y
49.4%
ALM
€12.90
Almirall
7D
0.6%
1Y
56.3%

ALM: Future Re-Rating Will Hinge On Ebglyss Uptake And Pipeline Delivery

Analysts have modestly raised their price target on Almirall to EUR 14.50, citing expectations for a continued valuation re-rating supported by the ramp up of Ebglyss, upcoming clinical readouts, and potential in-licensing and M&A to bolster the mid-stage pipeline. Analyst Commentary Analyst views on Almirall remain broadly positive, with recent coverage highlighting both upside drivers and execution risks as the company advances its dermatology portfolio.
ROVI
€63.35
Laboratorios Farmaceuticos Rovi
7D
1.0%
1Y
0.3%

ROVI: Stable Margins And Growth Outlook Will Support Stronger Future Earnings

Analysts have modestly adjusted their price targets for Laboratorios Farmaceuticos Rovi, now valuing the shares around €80.96. They reiterate expectations for solid double digit revenue growth, resilient profit margins, and a stable long term valuation multiple.
GRF
€11.20
Grifols
7D
1.9%
1Y
19.1%

GRF: Higher Discount Rate Will Still Support Attractive Future Upside Potential

Analysts have modestly reduced their price target on Grifols from approximately 23.00 dollars to 21.78 dollars, citing a higher perceived discount rate that more than offsets slightly stronger long term revenue growth and margin assumptions, along with a lower future price to earnings multiple. What's in the News Grifols has scheduled a Board meeting on September 25, 2025, to approve the creation of a Strategy Committee with an advisory role focused on strategic initiatives and developments, as defined in the Regulations of the Internal Functioning of the Board of Directors and the committee's own regulations (company filing).
ORY
€3.22
Oryzon Genomics
7D
1.3%
1Y
114.7%
BST
€0.20
Biotechnology Assets
7D
-12.8%
1Y
-29.4%

We Think Biotechnology Assets (BME:BST) Has A Fair Chunk Of Debt

Dec 05
We Think Biotechnology Assets (BME:BST) Has A Fair Chunk Of Debt
CBAV
€49.30
Clínica Baviera
7D
3.4%
1Y
50.3%
ATRY
€2.92
Atrys Health
7D
7.0%
1Y
-16.6%

Capital Allocation Trends At Atrys Health (BME:ATRY) Aren't Ideal

Nov 11
Capital Allocation Trends At Atrys Health (BME:ATRY) Aren't Ideal
RJF
€2.68
Laboratorio Reig Jofre
7D
3.9%
1Y
4.3%
PHM
€76.40
Pharma Mar
7D
-0.5%
1Y
-7.8%

There May Be Underlying Issues With The Quality Of Pharma Mar's (BME:PHM) Earnings

Nov 07
There May Be Underlying Issues With The Quality Of Pharma Mar's (BME:PHM) Earnings