Upcoming Dividend • May 04
Upcoming dividend of €2.27 per share Eligible shareholders must have bought the stock before 11 May 2026. Payment date: 13 May 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (4.5%). In line with average of industry peers (2.7%). Reported Earnings • May 02
First quarter 2026 earnings released First quarter 2026 results: Revenue: €755.9m (up 3.5% from 1Q 2025). Net income: €11.4m (up €13.5m from 1Q 2025). Profit margin: 1.5% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment industry in Germany. Announcement • Mar 31
Drägerwerk AG & Co. KGaA, Annual General Meeting, May 08, 2026 Drägerwerk AG & Co. KGaA, Annual General Meeting, May 08, 2026, at 10:00 W. Europe Standard Time. Declared Dividend • Mar 30
Dividend increased to €2.27 Dividend of €2.27 is 12% higher than last year. Ex-date: 11th May 2026 Payment date: 13th May 2026 Dividend yield will be 2.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 28% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 28
Drägerwerk AG & Co. KGaA announces Annual dividend, payable on May 13, 2026 Drägerwerk AG & Co. KGaA announced Annual dividend of EUR 2.2700 per share payable on May 13, 2026, ex-date on May 11, 2026 and record date on May 12, 2026. Reported Earnings • Mar 25
Full year 2025 earnings: Revenues in line with analyst expectations Full year 2025 results: Revenue: €3.48b (up 3.3% from FY 2024). Net income: €139.5m (up 12% from FY 2024). Profit margin: 4.0% (up from 3.7% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment industry in Germany. Price Target Changed • Mar 24
Price target increased by 9.1% to €96.25 Up from €88.25, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of €93.30. Stock is up 51% over the past year. The company is forecast to post earnings per share of €6.87 for next year compared to €6.63 last year. Price Target Changed • Mar 13
Price target increased by 7.2% to €93.50 Up from €87.20, the current price target is an average from 4 analysts. New target price is 8.1% above last closing price of €86.50. Stock is up 52% over the past year. The company is forecast to post earnings per share of €6.87 for next year compared to €6.63 last year. Announcement • Feb 06
Drager PSS Airboss Scba Now Available for Purchase in North America Drager announced that the Drager PSS AirBoss Self-Contained Breathing Apparatus (SCBA) is now available for purchase in the United States through the company's network of Authorized Sales Partners. This milestone follows the AirBoss certification to the NFPA 1970 (2025 Edition) standards -- a certification announced in November 2025 -- making it one of the first new SCBAs to meet the fire service's latest safety requirements. U.S. fire departments can now order the AirBoss SCBA, confident they are acquiring a breathing Apparatus that was purpose-built for American firefighters. The Drager AirBoss SCBA delivers next-generation protection with enhanced ergonomics, streamlined controls, and high-visibility indicators designed for the demands of the modern American fireground. The SCBA's development followed a "Made for America" philosophy: from initial concept to final testing, American firefighters were directly involved in shaping the design of the AirBoss. Drager solicited feedback from fire departments across the country to ensure this SCBA reflects how U.S. crews operate. Firefighters demanded a better SCBA -- one that moves with them, supports their style of attack, and reduces stress in high-heat, high-intensity conditions -- and Drager's engineers answered by building the AirBoss around those real-world firefighting needs. rigorous U.S.-based field testing further validated the AirBoss in action, proving its durability and performance under the extreme conditions American firefighters face. Built for the Fireground: Key Features: The AirBoss was created for aggressive interior attack and long-duration missions, with performance-driven features including: Ergonomic "floating" waist belt keeps weight on the hips for better movement and balance; High-visibility indicators and reflective surfaces support quick accountability in smoke-filled environments; Muscle-memory flexibility -- left or right regulator and gauge placement based on department preference; Non-indexing regulator insertion for fast sealing under pressure; Rapid, tool-less disassembly simplifying cleaning in minutes rather than hours. The 2025 Edition of NFPA 1970 unifies multiple PPE standards into a single, more stringent benchmark for SCBA performance and firefighters safety. From product support to service delivery, AirBoss provides the backing U.S. departments expect -- with a growing network of regional service locations to maximize uptime and minimize turnaround. Price Target Changed • Jan 18
Price target increased by 7.1% to €86.75 Up from €81.00, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of €89.70. Stock is up 60% over the past year. The company is forecast to post earnings per share of €6.51 for next year compared to €6.63 last year. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €89.00, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 22x in the Medical Equipment industry in Germany. Total returns to shareholders of 124% over the past three years. Reported Earnings • Oct 30
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: €833.3m (up 7.6% from 3Q 2024). Net income: €35.7m (up 143% from 3Q 2024). Profit margin: 4.3% (up from 1.9% in 3Q 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Medical Equipment industry in Germany. Price Target Changed • Oct 17
Price target increased by 7.0% to €82.00 Up from €76.60, the current price target is an average from 5 analysts. New target price is 7.6% above last closing price of €76.20. Stock is up 65% over the past year. The company is forecast to post earnings per share of €6.03 for next year compared to €6.63 last year. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €75.70, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 22x in the Medical Equipment industry in Germany. Total returns to shareholders of 102% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €146 per share. Announcement • Aug 12
Dräger Atlan anesthesia workstations obtain Authority to Operate (ATO) under Risk Management Framework Dräger announced that the company's Atlan A350/A350 XL series of anesthesia workstations received Authority to Operate (ATO) certification under the Department of Defense's (DoD) Risk Management Framework (RMF) eMASS #4060."Cyberattacks continue to be a serious threat to hospitals – both clinically and financially," said President and CEO for Draeger Inc., Lothar Thielen. "To help hospitals meet this challenge, Dräger embeds the latest cybersecurity technology deeply into the development processes. The company's new Atlan anesthesia workstations now carry ATO certification, which is the highest level of security a medical device can hold."Continuing a longstanding commitment to patient data security. Certification of Dräger's Atlan A350/A350XL anesthesia workstation follows the certifications of the Perseus A500 (eMASS # 2852) and Fabius MRI (eMASS # 2875) anesthesia workstations. Now with the Atlan certification, Dräger anesthesia customers can have confidence knowing that Dräger's entire anesthesia machine portfolio has gone through this rigorous cyber-security review process.Benefits of ATO-certified medical devices Medical devices that have achieved an Authority to Operate (ATO) under the Risk Management Framework (RMF) offer significant advantages to hospitals, including: Enhanced security: Rigorous security assessments ensure that these devices meet high standards for protecting sensitive patient data and maintaining the integrity of medical operations; Compliance assurance: Devices that comply with federal regulations and standards reduce the risk of legal and regulatory issues; Reliability and trust: Hospitals can trust that these devices have been thoroughly vetted for security and performance, leading to greater confidence in their use in critical environments; Interoperability: Devices with ATO are often designed to integrate seamlessly with other systems within the healthcare network, enhancing overall efficiency and effectiveness; Continuous monitoring: Ongoing monitoring and updates continually address new security threats, ensuring that devices remain secure over time; Faster installation: ATO-certified devices streamline the process of integrating device data with electronic medical records, centralized alarm stations, and remote notifications. New Risk • Jul 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Jul 29
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €780.0m (flat on 2Q 2024). Net income: €11.3m (down 58% from 2Q 2024). Profit margin: 1.4% (down from 3.4% in 2Q 2024). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Medical Equipment industry in Germany. New Risk • May 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Upcoming Dividend • May 05
Upcoming dividend of €2.03 per share Eligible shareholders must have bought the stock before 12 May 2025. Payment date: 14 May 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.4%). Higher than average of industry peers (1.9%). Announcement • May 02
Drägerwerk Ag & Co. Kgaa Announces Earnings Guidance for the Year 2025 Drägerwerk AG & Co. KGaA announced earnings guidance for the year 2025. For the year, Dräger continues to expect an increase in net sales of 1.0 to 5.0% (net of currency effects) and an EBIT margin of 3.5 to 6.5%. Reported Earnings • May 02
First quarter 2025 earnings released First quarter 2025 results: Revenue: €730.3m (flat on 1Q 2024). Net loss: €2.09m (down 130% from profit in 1Q 2024). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Medical Equipment industry in Germany. Announcement • Apr 29
Drager Launches the Alcotest 7000 Drager announced the launch of the Alcotest 7000--an innovative alcohol screening device built to support DUI prevention, DOT protocols, and workplace safety initiatives. Backed by over 70 years of expertise in breath alcohol testing, the Alcotest 7000 by Drager delivers reliable, accurate results tailored to the demands of both criminal justice and safety-sensitive industries. This launch reinforces Drager's commitment to help protect lives and contribute to reducing impaired driving. Drager introduces the next-gen breathalyzer, Alcotest, for law enforcement, DOT compliance, and workplace safety. The Alcotest 7000 introduces a breakthrough 2-in-1 screening solution. With a simple switch, users can alternative between: Funnel-based prescreening: Ideal for high-volume situations like return-to-work programs, parole check-ins, or workplace screening where only a fast "yes or no" result is needed, without physical contact. Together, these modes support accurate, efficient, and sanitary testing in nearly any environment. The Alcotest 7000 also features Drager's first full-color 2.4" display for clear visibility of prompts, warnings, and results. Bluetooth®? integration allows wireless communication with the Drager Mobile Printer and smartphone apps, supporting on-the-spot reporting and mobility in the field. The device also doubles its storage capacity from its predecessor, now capable of storing up to 10,000 test results, making data management more robust for law enforcement agencies, DOT-certified testers, and workplace safety professionals. Non-Invasive Checks for Law Enforcement Operations: A game-changer for law enforcement, the Alcotest 7000 By Drager delivers a fast, noninvasive solution for roadside investigations, sobriety checkpoints, high-security facilities, and school campuses. Its funnel attachment offers quick, no-contact checks--ideal for scanning individuals during mass operations or verifying alcohol presence from an open container. This non-invasive prescreening option helps identify potential risks in seconds, enabling users to quickly spot individuals with alcohol present before further investigation is needed. Ensure Hygiene and Safety: Minimize contamination with two disposable mouthpiece options. The pre-screening funnel attachment directs exhaled air away from the operator without physical contact with the test person. At the same time, the screening Slide 'n' Click mouthpiece includes a spacer to prevent contact with the device and allows for safe sample collection at a 90deg angle. Store Extensive Test Data: Keep up to 10,000 test Results on the unit for thorough record-keeping, with options to expand storage capacity via customizable software. Major Estimate Revision • Apr 04
Consensus EPS estimates increase by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from €5.35 to €5.98. Revenue forecast steady at €3.49b. Net income forecast to shrink 10% next year vs 24% growth forecast for Medical Equipment industry in Germany . Consensus price target up from €62.60 to €71.20. Share price fell 5.5% to €60.30 over the past week. New Risk • Apr 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Apr 03
Drägerwerk AG & Co. KGaA, Annual General Meeting, May 09, 2025 Drägerwerk AG & Co. KGaA, Annual General Meeting, May 09, 2025, at 10:00 W. Europe Standard Time. Declared Dividend • Apr 02
Dividend increased to €2.04 Dividend of €2.04 is 13% higher than last year. Ex-date: 12th May 2025 Payment date: 14th May 2025 Dividend yield will be 3.0%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 2.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Apr 01
Price target increased by 11% to €69.20 Up from €62.60, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of €68.50. Stock is up 36% over the past year. New Risk • Mar 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Price Target Changed • Mar 31
Price target increased by 7.8% to €63.20 Up from €58.60, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of €63.50. Stock is up 25% over the past year. Announcement • Mar 31
Drägerwerk AG & Co. KGaA Proposes Dividend for the Year 2024 The Executive Board and Supervisory Board of Drägerwerk AG & Co. KGaA intend to propose a dividend of EUR 1.97 per common share (2023: EUR 1.74) for 2024 to the annual shareholders’ meeting. This would correspond to a payout of 30.1% of Group net profit for the year. Announcement • Mar 04
Dräger Introduces NIOSH-Approved ProAir Drager unveiled the NIOSH-certified ProAir, an advanced closed-circuit breathing apparatus (CCBA) designed to provide a continuous oxygen supply for up to four hours. Leveraging over a century of expertise in breathing apparatus technology, this innovative solution is set to transform Federal Government operations in hazardous environments, including below-deck ship incidents, confined spaces, subterranean operations, and HAZMAT operations. The ProAir can enhance operational readiness for federal agencies, including the armed forces, law enforcement, emergency responders, and environmental protection agencies. By providing an uninterrupted oxygen supply, the ProAir enables personnel to focus on high-risk situations, such as search and rescue missions, decontamination efforts, and HAZMAT response, alongside other critical tasks. The ProAir represents a significant advancement in personal safety gear, providing extended respiratory protection under some of the most challenging conditions. Designed to complement traditional SCBAs, the ProAir maximizes operational capabilities by eliminating the need for frequent cylinder changes during prolonged engagements. This additional time helps federal personnel to consolidate focus, complete intricate tasks without interruption, confidently navigate lengthy routes, and handle emergencies without worrying about the clock. By maximizing crucial operational time, the ProAir helps federal teams carry out their missions, increasing the safety and efficiency of high-stakes scenarios. The ProAir incorporates a proprietary carbon dioxide scrubber embedded in a positive pressure breathing circuit. This technology efficiently removes carbon dioxide and enriches the air with oxygen, removing the reliance on bulky air cylinders. The new RFID chip on the canister enables the ProAir to track the soda lime's life. Simplifies Maintenance: Easy, tool-free disassembly and servicing of the CCBA. Delivers Instant Updates: View critical supply status and alerts--such as cylinder pressure and time toistle--on the palm-sized Electronic Control Unit (ECU). Enhances Communication: Stay connected with integrated radio features and voice amplification for clear communication in challenging environments. Tracks Usage: Leverage the built-in RFID chip to monitor soda lime life and streamline maintenance. Announcement • Feb 07
Dräger Announces Significant Expansion of UK Rental Division The Drager Group has announced plans to significantly expand its UK rental division, Draeger Hire UK, over the next four years. Operating nationwide, Drager's rental service offers 24-hour delivery on a wide range of the international safety manufacturer's equipment, from gas and flame detectors to breathing apparatus, drug and alcohol testing products and specialist fire-fighting equipment. Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €56.10, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 26x in the Medical Equipment industry in Germany. Total returns to shareholders of 23% over the past three years. Major Estimate Revision • Jan 17
Consensus EPS estimates increase by 15% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €5.27 to €6.05. Revenue forecast steady at €3.37b. Net income forecast to shrink 9.6% next year vs 3.6% growth forecast for Medical Equipment industry in Germany . Consensus price target up from €58.60 to €62.60. Share price rose 15% to €56.10 over the past week. New Risk • Jan 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Oct 29
Second quarter 2024 earnings released: EPS: €1.42 (vs €0.57 in 2Q 2023) Second quarter 2024 results: EPS: €1.42 (up from €0.57 in 2Q 2023). Revenue: €784.7m (up 1.7% from 2Q 2023). Net income: €26.6m (up 149% from 2Q 2023). Profit margin: 3.4% (up from 1.4% in 2Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Oct 22
Drägerwerk AG & Co. KGaA to Report Q3, 2025 Results on Oct 29, 2025 Drägerwerk AG & Co. KGaA announced that they will report Q3, 2025 results on Oct 29, 2025 Major Estimate Revision • Oct 18
Consensus EPS estimates fall by 22% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €6.39 to €4.98 per share. Revenue forecast steady at €3.41b. Net income forecast to shrink 15% next year vs 1.3% growth forecast for Medical Equipment industry in Germany . Consensus price target up from €58.00 to €59.25. Share price fell 8.0% to €45.70 over the past week. Announcement • Oct 03
Drägerwerk AG & Co. KGaA to Report Q1, 2025 Results on Apr 30, 2025 Drägerwerk AG & Co. KGaA announced that they will report Q1, 2025 results on Apr 30, 2025 Reported Earnings • Jul 26
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €784.7m (up 1.7% from 2Q 2023). Net income: €26.6m (up 149% from 2Q 2023). Profit margin: 3.4% (up from 1.4% in 2Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Medical Equipment industry in Germany. Upcoming Dividend • May 02
Upcoming dividend of €1.80 per share Eligible shareholders must have bought the stock before 09 May 2024. Payment date: 13 May 2024. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.8%). Major Estimate Revision • May 02
Consensus EPS estimates increase by 20% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from €4.62 to €5.53. Revenue forecast unchanged at €3.46b. Net income forecast to grow 4.4% next year vs 3.6% growth forecast for Medical Equipment industry in Germany. Consensus price target up from €56.25 to €57.50. Share price was steady at €49.70 over the past week. Reported Earnings • Apr 25
First quarter 2024 earnings released First quarter 2024 results: Revenue: €735.8m (down 3.3% from 1Q 2023). Net income: €7.08m (down 58% from 1Q 2023). Profit margin: 1.0% (down from 2.2% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Medical Equipment industry in Germany. Declared Dividend • Mar 13
Dividend increased to €1.80 Dividend of €1.80 is 847% higher than last year. Ex-date: 9th May 2024 Payment date: 13th May 2024 Dividend yield will be 3.5%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (31% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Mar 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Major Estimate Revision • Jan 12
Consensus EPS estimates increase by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €3.59 to €4.27. Revenue forecast steady at €3.34b. Net income forecast to shrink 11% next year vs 21% growth forecast for Medical Equipment industry in Germany . Consensus price target broadly unchanged at €55.00. Share price was steady at €50.80 over the past week. Price Target Changed • Nov 15
Price target increased by 7.4% to €54.00 Up from €50.28, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of €54.00. Stock is up 26% over the past year. The company is forecast to post earnings per share of €3.59 next year compared to a net loss per share of €3.44 last year. Price Target Changed • Nov 08
Price target increased by 12% to €53.03 Up from €47.53, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of €51.50. Stock is up 24% over the past year. The company is forecast to post earnings per share of €3.21 next year compared to a net loss per share of €3.44 last year. Reported Earnings • Nov 02
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €788.5m (up 8.8% from 3Q 2022). Net income: €17.6m (up €52.7m from 3Q 2022). Profit margin: 2.2% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Medical Equipment industry in Germany. Announcement • Oct 22
Drager Introduces the HPS SafeGuard Helmet Drager presents the Drager HPS SafeGuard Helmet. Meticulously designed for first responders, this helmet combines wearing comfort with rigorous safety protection. Tipping the scales at a mere 3.2 lbs., the HPS SafeGuard Helmet is engineered to ease the physical burden on the neck and shoulders. The result -- mobility, protection, and relief, aiding firefighters in taxing and dynamic environments. When wearing helmets, firefighters don more than just equipment; they put on essential lifelines. Be it a fire with towering flames or a technical rescue operation, firefighters need gear as robust as the challenges they confront. Supporting the head already places a 10-12 lb. weight on the neck and shoulders, a burden that only increases with conventional headgear. While unwavering companions in the field, there's room to admit traditional helmets can sometimes feel like a heavy crown during prolonged use. Additionally, a broad brim can expede a natural range of motion, making tasks less fluid than desired. Taking these considerations to heart, Drager's new helmet is carefully designed to harmonize with natural movements, aiming to feel less like a strain and more like a gentle presence. With direct input from those on the frontlines, Drager modernizes a helmet for the contemporary firefighters, considering the need for both protection and relief. In addition to meeting stringent safety standards, the helmet holds dual certifications for both structural fires and technical rescue missions, offering peace of mind even in tough conditions. Robust comfort beyond physical: Light on the head: With its light weight of just 3.2 lbs., theHPS SafeGuard helps to offer effortless movement and balanced weight distribution, seamlessly integrating as if a natural extension of the wearer. Built to endure: Engineered for tough job conditions, this helmet surpasses rigorous industry testing standards, offering an added layer of confidence. Visibly seen: Firefighters can worry less about squinting in the dark or being seen. The HPS SafeGuard comes with reflective strips and a backlit BuddyLight, effectively turning night into day in low-light conditions. Versatility: Designed to adapt just as quickly as the professionals who wear it, this helmet is dual-certified for both structural firefighting and technical rescues. No tools to maintain: Maintenance is simple, and a tool-free disassembly makes cleaning almost as effortless as wearing it. It's personal: Customizable features like helmet colors, department logos, and individual names add a personal touch, strengthening team identity and uniformity. Major Estimate Revision • Oct 18
Consensus EPS estimates increase by 15% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €2.79 to €3.21. Revenue forecast steady at €3.31b. Net income forecast to grow 69% next year vs 26% growth forecast for Medical Equipment industry in Germany. Consensus price target of €50.28 unchanged from last update. Share price rose 11% to €49.20 over the past week. Reported Earnings • Jul 28
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €771.3m (up 18% from 2Q 2022). Net income: €10.7m (up €61.6m from 2Q 2022). Profit margin: 1.4% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Price Target Changed • Jun 14
Price target decreased by 10% to €47.53 Down from €52.81, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of €46.10. Stock is down 2.6% over the past year. The company is forecast to post earnings per share of €1.24 next year compared to a net loss per share of €3.44 last year. Major Estimate Revision • May 03
Consensus EPS estimates fall from profit to €0.39 loss The consensus outlook for fiscal year 2023 has been updated. Expected to report loss instead of -€0.39 instead of €1.30 per share profit previously forecast. Revenue forecast unchanged at €3.28b Medical Equipment industry in Germany expected to see average net income growth of 25% next year. Consensus price target of €55.62 unchanged from last update. Share price rose 2.1% to €50.20 over the past week. Upcoming Dividend • May 01
Upcoming dividend of €0.19 per share at 0.4% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (1.6%). Reported Earnings • Mar 17
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: €3.41 loss per share (down from €7.16 profit in FY 2021). Revenue: €3.05b (down 8.5% from FY 2021). Net loss: €64.6m (down 148% from profit in FY 2021). Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Medical Equipment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Price Target Changed • Jan 13
Price target decreased to €53.58 Down from €59.19, the current price target is an average from 4 analysts. New target price is 31% above last closing price of €41.05. Stock is down 20% over the past year. The company is forecast to post earnings per share of €0.37 for next year compared to €7.16 last year. Reported Earnings • Oct 28
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: €724.6m (down 5.8% from 3Q 2021). Net loss: €35.1m (down 213% from profit in 3Q 2021). Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment industry in Germany. Announcement • Aug 26
Drägerwerk AG & Co. KGaA to Report Q3, 2023 Results on Nov 02, 2023 Drägerwerk AG & Co. KGaA announced that they will report Q3, 2023 results on Nov 02, 2023 Announcement • Aug 03
Drägerwerk AG & Co. KGaA to Report Q2, 2023 Results on Jul 27, 2023 Drägerwerk AG & Co. KGaA announced that they will report Q2, 2023 results on Jul 27, 2023 Reported Earnings • Jul 29
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €652.9m (down 22% from 2Q 2021). Net loss: €50.9m (down 189% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 5.3%, compared to a 7.0% growth forecast for the industry in Germany. Price Target Changed • Jun 22
Price target decreased to €60.18 Down from €65.72, the current price target is an average from 3 analysts. New target price is 26% above last closing price of €47.75. Stock is down 40% over the past year. The company is forecast to post earnings per share of €3.36 for next year compared to €7.16 last year. Upcoming Dividend • May 02
Upcoming dividend of €0.19 per share Eligible shareholders must have bought the stock before 09 May 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 2.7% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of German dividend payers (4.1%). Lower than average of industry peers (1.2%). Reported Earnings • May 01
First quarter 2022 earnings: Revenues exceed analyst expectations First quarter 2022 results: Revenue: €649.5m (down 18% from 1Q 2021). Net loss: €26.9m (down 133% from profit in 1Q 2021). Revenue exceeded analyst estimates by 3.2%. Over the next year, revenue is expected to shrink by 2.3% compared to a 11% growth forecast for the industry in Germany. Major Estimate Revision • Apr 20
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from €4.76 to €5.93. Revenue forecast steady at €3.10b. Net income forecast to shrink 17% next year vs 3.0% decline forecast for Medical Equipment industry in Germany. Consensus price target broadly unchanged at €65.48. Share price fell 4.5% to €48.15 over the past week. Price Target Changed • Mar 11
Price target decreased to €65.72 Down from €72.43, the current price target is an average from 3 analysts. New target price is 29% above last closing price of €50.95. Stock is down 23% over the past year. The company is forecast to post earnings per share of €2.43 for next year compared to €7.16 last year. Major Estimate Revision • Mar 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from €4.62 to €2.43 per share. Revenue forecast steady at €3.12b. Net income forecast to shrink 66% next year vs 3.0% growth forecast for Medical Equipment industry in Germany . Consensus price target down from €72.43 to €69.65. Share price was steady at €50.35 over the past week. Reported Earnings • Mar 04
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: €7.19 (down from €10.22 in FY 2020). Revenue: €3.33b (down 2.3% from FY 2020). Net income: €154.2m (down 18% from FY 2020). Profit margin: 4.6% (down from 5.5% in FY 2020). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates by 13%. Over the next year, revenue is expected to shrink by 6.8% compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 11
Price target decreased to €72.43 Down from €82.86, the current price target is an average from 5 analysts. New target price is 42% above last closing price of €51.10. Stock is down 24% over the past year. The company is forecast to post earnings per share of €8.29 for next year compared to €10.22 last year. Price Target Changed • Nov 28
Price target decreased to €82.86 Down from €90.20, the current price target is an average from 5 analysts. New target price is 41% above last closing price of €58.85. Stock is down 11% over the past year. The company is forecast to post earnings per share of €8.29 for next year compared to €10.22 last year. Major Estimate Revision • Nov 27
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from €9.39 to €8.29 per share. Revenue forecast steady at €3.23b. Net income forecast to shrink 53% next year vs 3.0% growth forecast for Medical Equipment industry in Germany . Consensus price target down from €90.20 to €87.00. Share price fell 17% to €58.85 over the past week. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €59.40, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 40x in the Medical Equipment industry in Germany. Total returns to shareholders of 26% over the past three years. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS €1.66 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €769.6m (down 11% from 3Q 2020). Net income: €31.1m (down 62% from 3Q 2020). Profit margin: 4.0% (down from 9.5% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS €2.65 (vs €3.22 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: €841.3m (up 6.7% from 2Q 2020). Net income: €57.1m (down 5.4% from 2Q 2020). Profit margin: 6.8% (down from 7.7% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jul 03
Consensus EPS estimates increase to €10.91 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from €3.16b to €3.21b. EPS estimate increased from €7.86 to €10.91 per share. Net income forecast to shrink 34% next year vs 7.4% growth forecast for Medical Equipment industry in Germany . Consensus price target broadly unchanged at €88.55. Share price fell 2.7% to €79.40 over the past week. Upcoming Dividend • May 04
Upcoming dividend of €0.19 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 12 May 2021. Trailing yield: 0.2%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (1.0%). Reported Earnings • May 01
First quarter 2021 earnings released The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €792.1m (up 24% from 1Q 2020). Net income: €82.5m (up €89.2m from 1Q 2020). Profit margin: 10% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Major Estimate Revision • Mar 11
Analysts update estimates The 2021 consensus earning per share (EPS) estimate increased from €6.95 to €7.65. Revenue estimate for the same period was approximately flat at €3.14b. Net income is expected to shrink by 24% next year compared to 24% growth forecast for the Medical Equipment industry in Germany . The consensus price target of €88.00 was unchanged from the last update. Share price is up 9.2% to €67.50 over the past week. Analyst Estimate Surprise Post Earnings • Mar 06
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 0.6%. Earnings per share (EPS) missed analyst estimates by 1.2%. Over the next year, revenue is expected to shrink by 7.8% compared to a 13% growth forecast for the Medical Equipment industry in Germany. Reported Earnings • Mar 06
Full year 2020 earnings released: EPS €10.25 (vs €1.40 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: €3.41b (up 23% from FY 2019). Net income: €250.2m (up €225.2m from FY 2019). Profit margin: 7.3% (up from 0.9% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 06
New 90-day low: €61.60 The company is down 3.0% from its price of €63.30 on 04 December 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €146 per share. 
