Grifols, S.A.

BME:GRF Stock Report

Market Cap: €5.7b

Grifols Future Growth

Future criteria checks 2/6

Grifols is forecast to grow earnings and revenue by 19.7% and 5.2% per annum respectively. EPS is expected to grow by 19.7% per annum. Return on equity is forecast to be 12% in 3 years.

Key information

19.7%

Earnings growth rate

19.74%

EPS growth rate

Biotechs earnings growth21.0%
Revenue growth rate5.2%
Future return on equity12.05%
Analyst coverage

Good

Last updated27 Apr 2026

Recent future growth updates

Recent updates

Narrative Update • Feb 02

GRF: Higher Required Returns Will Still Support Upside From Current Pricing

Analysts have trimmed their price targets on Grifols, with recent research such as the move from €15.00 to €13.50 supporting a modest reduction in our fair value estimate from €15.20 to about €15.08. They are factoring in slightly softer growth and margin assumptions alongside a higher expected discount rate, partly offset by a higher future P/E ratio.
Narrative Update • Jan 19

GRF: Execution On Profitability Reset And Higher P/E Will Unlock Upside

Analysts have nudged their fair value estimate for Grifols slightly lower to €21.72 from €21.78, reflecting reduced revenue growth and profit margin assumptions, alongside a higher future P/E, in line with recent Street moves such as Barclays trimming its price target to €13.50 from €15.00. Analyst Commentary Bullish analysts appear to be treating the latest target cut as more of a valuation reset than a shift in long term conviction, with the rating held at Overweight even as the price objective moves to €13.50 from €15.00.
Narrative Update • Jan 05

GRF: Higher Required Returns Will Still Support Attractive Future Earnings Multiple

Analysts have trimmed their valuation outlook for Grifols, reducing the implied price target from €15.20 to €15.03 as they factor in a higher discount rate and a slightly richer future P/E assumption, while keeping revenue growth and profit margin expectations broadly unchanged. Valuation Changes Fair Value: Held broadly steady at €15.20, with only a marginal adjustment to the implied price target in the updated model.
Narrative Update • Dec 15

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).
Narrative Update • Dec 01

GRF: Upcoming Strategy Committee Will Support Improved Profit Margins Ahead

Analysts have slightly lowered their price target for Grifols from $15.45 to $15.20, citing minor adjustments to growth projections and profit expectations. What's in the News Grifols, S.A. is holding a Board Meeting on September 25, 2025, to establish a Strategy Committee with an advisory role focused on strategic initiatives and developments (Key Developments).
Narrative Update • Nov 17

GRF: Rising Margins and Board Initiatives Will Drive Future Performance

Analysts have lowered their price target for Grifols from $16.48 to $15.45, citing modestly reduced revenue growth expectations and a lower future price-to-earnings multiple. This comes despite slightly improved profit margins and a more favorable discount rate.
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New Narrative • Nov 30

Biopharma Innovations And Tactical Strengths Propel Future Profitability And Market Expansion

Grifols' focus on innovation and new product development is poised to drive future revenue growth and market expansion.

Earnings and Revenue Growth Forecasts

BME:GRF - Analysts future estimates and past financials data (EUR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20288,7208701,0151,4647
12/31/20278,2827338201,18811
12/31/20267,7755345421,01711
12/31/20257,5244026241,047N/A
9/30/20257,5183736991,131N/A
6/30/20257,4462976961,105N/A
3/31/20257,3721958041,203N/A
12/31/20247,212157530902N/A
9/30/20247,006161209527N/A
6/30/20246,81114973387N/A
3/31/20246,656189-187105N/A
12/31/20236,59242-93217N/A
9/30/20236,53523-217119N/A
6/30/20236,479-5-496-123N/A
3/31/20236,35847-485-107N/A
1/1/20236,064185-394-1N/A
9/30/20225,549149-27250N/A
6/30/20225,20766-36289N/A
3/31/20225,016112137454N/A
12/31/20214,933189282597N/A
9/30/20215,044361400727N/A
6/30/20215,199667597909N/A
3/31/20215,2315628471,183N/A
12/31/20205,3406197481,110N/A
9/30/20205,3926876631,081N/A
6/30/20205,353557551964N/A
3/31/20205,235697425842N/A
12/31/20195,099625157569N/A
9/30/20194,961552N/A668N/A
6/30/20194,790565N/A634N/A
3/31/20194,620568N/A477N/A
12/31/20184,487597N/A737N/A
9/30/20184,332699N/A680N/A
6/30/20184,246704N/A712N/A
3/31/20184,279672N/A789N/A
12/31/20174,318663N/A842N/A
9/30/20174,348571N/A751N/A
6/30/20174,291559N/A765N/A
3/31/20174,153554N/A640N/A
12/31/20164,050545N/A553N/A
9/30/20164,014537N/A683N/A
6/30/20163,986535N/A652N/A
3/31/20163,985529N/A767N/A
12/31/20153,935532N/A743N/A
9/30/20153,789533N/A755N/A
6/30/20153,645507N/A836N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: GRF's forecast earnings growth (19.7% per year) is above the savings rate (2.7%).

Earnings vs Market: GRF's earnings (19.7% per year) are forecast to grow faster than the Spanish market (11.3% per year).

High Growth Earnings: GRF's earnings are forecast to grow, but not significantly.

Revenue vs Market: GRF's revenue (5.2% per year) is forecast to grow slower than the Spanish market (6.2% per year).

High Growth Revenue: GRF's revenue (5.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: GRF's Return on Equity is forecast to be low in 3 years time (12%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/06 05:03
End of Day Share Price 2026/05/06 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Grifols, S.A. is covered by 31 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullBanco de Sabadell. S.A.
Luis ArredondoBanco de Sabadell. S.A.
Jaime EscribanoBanco Santander