Does Almirall’s Robust Q3 Growth and Reaffirmed Guidance Shift the Earnings Outlook for BME:ALM?

• Earlier this week, Almirall announced earnings for the nine months ended September 30, 2025, reporting revenue of €825.6 million, up from €731.2 million a year ago, and net income of €39.1 million compared to €7.2 million the previous year, while also reaffirming guidance for double-digit net sales growth of 10%-13% for the full year 2025.
• This combination of solid revenue growth and a sharp increase in net income suggests stronger operational performance and confidence in achieving ambitious full-year targets.
• To understand the impact, we’ll examine how Almirall’s sustained revenue gains and reiterated guidance affect its earnings outlook and risk profile.

Uncover the next big thing with financially sound penny stocks that balance risk and reward.

Almirall Investment Narrative Recap

To be a shareholder in Almirall, you need confidence in the company's ability to drive continued growth in its core dermatology products while successfully launching new therapies and converting pipeline innovations into revenue. The strong nine-month earnings and reaffirmed double-digit net sales guidance bolster the short-term growth catalyst, but they do not materially change the most significant risk: Almirall's reliance on a few key products amid rising competitive and pricing pressures in dermatology markets.

The recent presentation of long-term data from the POSITIVE study on tildrakizumab at EADV 2025 highlights the company's ongoing investments in strengthening its psoriasis portfolio. This is particularly relevant as meaningful clinical data on existing treatments could help defend market share and support the new sales momentum reflected in Almirall's updated guidance, providing a counterbalance to competitive threats.

By contrast, investors should not overlook the persistent risk tied to product concentration and the potential revenue impact if...

Read the full narrative on Almirall (it's free!)

Almirall's outlook anticipates €1.4 billion in revenue and €145.4 million in earnings by 2028. This is based on a projected annual revenue growth rate of 10.5% and an earnings increase of €124.1 million from the current earnings of €21.3 million.

Uncover how Almirall's forecasts yield a €13.30 fair value, a 8% upside to its current price.

Exploring Other Perspectives

Three fair value estimates from the Simply Wall St Community range from €13.30 to €28.88 per share. While Almirall's ambitious guidance supports bullish opinions, product concentration and competitive pressures leave room for several alternative viewpoints.

Explore 3 other fair value estimates on Almirall - why the stock might be worth over 2x more than the current price!

Build Your Own Almirall Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Almirall research is our analysis highlighting 3 key rewards that could impact your investment decision.
• Our free Almirall research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Almirall's overall financial health at a glance.

Searching For A Fresh Perspective?

Right now could be the best entry point. These picks are fresh from our daily scans. Don't delay:

• These 15 companies survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. Discover why before your portfolio feels the trade war pinch.
• The latest GPUs need a type of rare earth metal called Terbium and there are only 35 companies in the world exploring or producing it. Find the list for free.
• Trump's oil boom is here - pipelines are primed to profit. Discover the 22 US stocks riding the wave.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com