Upcoming Dividend • May 27
Upcoming dividend of €1.35 per share Eligible shareholders must have bought the stock before 03 June 2026. Payment date: 05 June 2026. Payout ratio is a comfortable 72% and the cash payout ratio is 79%. Trailing yield: 4.8%. Lower than top quartile of French dividend payers (5.5%). In line with average of industry peers (4.7%). New Risk • May 22
New major risk - Revenue and earnings growth Earnings have declined by 5.7% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 5.7% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Apr 23
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: €1.88 (up from €0.65 in FY 2024). Revenue: €501.1m (up 2.8% from FY 2024). Net income: €32.6m (up 188% from FY 2024). Profit margin: 6.5% (up from 2.3% in FY 2024). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%. Revenue is forecast to grow 3.8% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Pharmaceuticals industry in France. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Declared Dividend • Apr 08
Dividend increased to €1.35 Dividend of €1.35 is 13% higher than last year. Ex-date: 3rd June 2026 Payment date: 5th June 2026 Dividend yield will be 4.9%, which is higher than the industry average of 3.9%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 20% to bring the payout ratio under control. EPS is expected to grow by 87% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Apr 08
Boiron SA, Annual General Meeting, May 21, 2026 Boiron SA, Annual General Meeting, May 21, 2026. Location: messimy France Announcement • Apr 07
Boiron SA announces Annual dividend, payable on June 05, 2026 Boiron SA announced Annual dividend of EUR 1.3500 per share payable on June 05, 2026, ex-date on June 03, 2026 and record date on June 04, 2026. New Risk • Apr 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. New Risk • Sep 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of French stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (184% payout ratio). Share price has been volatile over the past 3 months (6.7% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.3% net profit margin). Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €29.20, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Pharmaceuticals industry in France. Total loss to shareholders of 6.7% over the past three years. Buy Or Sell Opportunity • Sep 11
Now 21% undervalued Over the last 90 days, the stock has risen 1.1% to €23.50. The fair value is estimated to be €29.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 24%. Revenue is forecast to grow by 7.1% in 2 years. Earnings are forecast to grow by 218% in the next 2 years. Upcoming Dividend • May 27
Upcoming dividend of €1.20 per share Eligible shareholders must have bought the stock before 03 June 2025. Payment date: 05 June 2025. The company is paying out more than 100% of its profits and is paying out 88% of its cash flow. Trailing yield: 5.1%. Lower than top quartile of French dividend payers (5.4%). Higher than average of industry peers (3.9%). New Risk • May 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 58% 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: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 184% Cash payout ratio: 99% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.3% net profit margin). Reported Earnings • Apr 23
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: €0.65 (down from €2.06 in FY 2023). Revenue: €487.6m (down 1.2% from FY 2023). Net income: €11.3m (down 68% from FY 2023). Profit margin: 2.3% (down from 7.3% in FY 2023). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 42%. Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Pharmaceuticals industry in France. 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 17% per year, which means it has not declined as severely as earnings. Declared Dividend • Apr 17
Dividend reduced to €1.20 Dividend of €1.20 is 11% lower than last year. Ex-date: 3rd June 2025 Payment date: 5th June 2025 Dividend yield will be 4.9%, which is higher than the industry average of 3.9%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 9.9% to bring the payout ratio under control. EPS is expected to grow by 76% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Apr 17
Boiron SA announces Annual dividend, payable on June 05, 2025 Boiron SA announced Annual dividend of EUR 1.2000 per share payable on June 05, 2025, ex-date on June 03, 2025 and record date on June 04, 2025. Announcement • Apr 15
Boiron SA, Annual General Meeting, May 22, 2025 Boiron SA, Annual General Meeting, May 22, 2025. Location: 2 avenue de l ouest lyonnais, messimy France New Risk • Mar 07
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 95% Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.9% net profit margin). New Risk • Sep 27
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 95% Dividend yield: 4.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 95% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.9% net profit margin). Price Target Changed • Sep 22
Price target decreased by 19% to €33.30 Down from €40.87, the current price target is an average from 2 analysts. New target price is 8.5% above last closing price of €30.70. Stock is down 43% over the past year. The company is forecast to post earnings per share of €1.65 for next year compared to €2.06 last year. Upcoming Dividend • May 27
Upcoming dividend of €1.35 per share Eligible shareholders must have bought the stock before 03 June 2024. Payment date: 05 June 2024. Payout ratio is a comfortable 65% but the company is paying out more than the cash it is generating. Trailing yield: 4.0%. Lower than top quartile of French dividend payers (5.1%). In line with average of industry peers (3.8%). Declared Dividend • Apr 17
First half dividend of €1.35 announced Shareholders will receive a dividend of €1.35. Ex-date: 3rd June 2024 Payment date: 5th June 2024 Dividend yield will be 34%, which is higher than the industry average of 3.9%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 1.3% over the next 3 years. However, it would need to fall by 55% to increase the payout ratio to a potentially unsustainable range. Major Estimate Revision • Apr 04
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €539.8m to €508.0m. EPS estimate also fell from €2.74 per share to €2.17 per share. Net income forecast to shrink 17% next year vs 7.5% growth forecast for Pharmaceuticals industry in France . Consensus price target down from €40.87 to €39.60. Share price was steady at €34.20 over the past week. New Risk • Apr 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% 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 0.3% per year for the foreseeable future. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • Mar 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Dividend is not well covered by cash flows (107% cash payout ratio). Price Target Changed • Oct 26
Price target decreased by 7.3% to €43.93 Down from €47.38, the current price target is an average from 3 analysts. New target price is 10% above last closing price of €39.85. Stock is down 11% over the past year. The company is forecast to post earnings per share of €2.60 for next year compared to €2.57 last year. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorates as stock falls 25% After last week's 25% share price decline to €40.85, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 16x in the Pharmaceuticals industry in France. Total returns to shareholders of 31% over the past three years. Upcoming Dividend • Oct 11
Upcoming dividend of €10.36 per share at 2.0% yield Eligible shareholders must have bought the stock before 18 October 2023. Payment date: 20 October 2023. Payout ratio is a comfortable 40% but the company is paying out more than the cash it is generating. Trailing yield: 2.0%. Lower than top quartile of French dividend payers (5.5%). Lower than average of industry peers (3.2%). Reported Earnings • Sep 17
First half 2023 earnings released: EPS: €0.89 (vs €0.72 in 1H 2022) First half 2023 results: EPS: €0.89 (up from €0.72 in 1H 2022). Revenue: €239.9m (down 6.6% from 1H 2022). Net income: €15.5m (up 24% from 1H 2022). Profit margin: 6.4% (up from 4.9% in 1H 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Pharmaceuticals industry in France. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jul 11
Price target decreased by 14% to €44.55 Down from €51.67, the current price target is an average from 3 analysts. New target price is 12% below last closing price of €50.50. Stock is up 11% over the past year. The company is forecast to post earnings per share of €2.65 for next year compared to €2.57 last year. New Risk • Jul 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of French stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. 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. Share price has been volatile over the past 3 months (8.2% average weekly change). Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to €50.10, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Pharmaceuticals industry in France. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €97.22 per share. Upcoming Dividend • May 24
Upcoming dividend of €1.10 per share at 2.8% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 02 June 2023. Trailing yield: 2.8%. Lower than top quartile of French dividend payers (5.3%). Lower than average of industry peers (3.3%). Reported Earnings • Mar 24
Full year 2022 earnings released Full year 2022 results: Revenue: €534.2m (up 17% from FY 2021). Net income: €44.7m (up 56% from FY 2021). Profit margin: 8.4% (up from 6.3% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Pharmaceuticals industry in France. Reported Earnings • Sep 17
First half 2022 earnings released: EPS: €0.72 (vs €0.54 loss in 1H 2021) First half 2022 results: EPS: €0.72 (up from €0.54 loss in 1H 2021). Revenue: €256.8m (up 35% from 1H 2021). Net income: €12.5m (up €22.0m from 1H 2021). Profit margin: 4.9% (up from net loss in 1H 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Pharmaceuticals industry in France. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Price Target Changed • Jul 22
Price target increased to €52.67 Up from €48.00, the current price target is an average from 3 analysts. New target price is 17% above last closing price of €45.05. Stock is up 8.9% over the past year. The company is forecast to post earnings per share of €2.41 for next year compared to €1.63 last year. Upcoming Dividend • May 25
Upcoming dividend of €0.95 per share Eligible shareholders must have bought the stock before 01 June 2022. Payment date: 03 June 2022. Payout ratio is a comfortable 58% but the company is paying out more than the cash it is generating. Trailing yield: 2.3%. Lower than top quartile of French dividend payers (5.0%). Lower than average of industry peers (3.0%). Reported Earnings • Mar 14
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: €455.2m (down 11% from FY 2020). Net income: €28.6m (up 9.0% from FY 2020). Profit margin: 6.3% (up from 5.1% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 2.9%, compared to a 7.7% growth forecast for the pharmaceuticals industry in France. Price Target Changed • Jan 25
Price target increased to €47.33 Up from €43.67, the current price target is an average from 3 analysts. New target price is 26% above last closing price of €37.60. Stock is up 7.4% over the past year. The company is forecast to post earnings per share of €1.42 for next year compared to €1.50 last year. Major Estimate Revision • Jan 22
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from €1.05 to €1.42. Revenue forecast steady at €452.8m. Net income forecast to grow 100% next year vs 14% growth forecast for Pharmaceuticals industry in France. Consensus price target up from €43.67 to €45.67. Share price rose 8.9% to €39.00 over the past week. Price Target Changed • Jan 21
Price target increased to €45.67 Up from €42.33, the current price target is an average from 3 analysts. New target price is 17% above last closing price of €39.00. Stock is up 9.9% over the past year. The company is forecast to post earnings per share of €1.05 for next year compared to €1.50 last year. Price Target Changed • Oct 22
Price target increased to €43.67 Up from €40.33, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €41.75. Stock is up 1.8% over the past year. The company is forecast to post earnings per share of €0.96 for next year compared to €1.50 last year. Reported Earnings • Sep 13
First half 2021 earnings released: €0.54 loss per share (vs €0.056 loss in 1H 2020) The company reported a poor first half result with increased losses, weaker revenues and weaker control over costs. First half 2021 results: Revenue: €189.9m (down 25% from 1H 2020). Net loss: €9.51m (loss widened €8.54m from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Price Target Changed • Sep 09
Price target increased to €42.33 Up from €39.00, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of €40.95. Stock is up 14% over the past year. Upcoming Dividend • May 26
Upcoming dividend of €0.95 per share Eligible shareholders must have bought the stock before 02 June 2021. Payment date: 04 June 2021. Trailing yield: 2.3%. Lower than top quartile of French dividend payers (3.8%). Lower than average of industry peers (3.4%). Major Estimate Revision • Apr 26
Consensus EPS estimates fall to €0.96 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from €470.4m to €448.4m. EPS estimate also fell from €1.71 to €0.96. Net income forecast to shrink 13% next year vs 1.2% decline forecast for Pharmaceuticals industry in France. Consensus price target down from €40.83 to €39.00. Share price was steady at €38.95 over the past week. Reported Earnings • Apr 11
Full year 2020 earnings released: EPS €1.50 (vs €2.32 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €513.6m (down 7.8% from FY 2019). Net income: €26.2m (down 36% from FY 2019). Profit margin: 5.1% (down from 7.3% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Mar 14
Analysts lower EPS estimates to €1.71 The 2021 consensus revenue estimate was lowered from €488.0m to €470.5m. Earning per share (EPS) estimate was also lowered from €1.97 to €1.71 for the same period. Net income is expected to shrink by 45% next year compared to 7.2% decline forecast for the Pharmaceuticals industry in France. The consensus price target increased from €40.07 to €40.83. Share price is up 6.5% to €37.00 over the past week. Is New 90 Day High Low • Mar 04
New 90-day low: €34.00 The company is down 9.0% from its price of €37.50 on 04 December 2020. The French market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.59 per share. Major Estimate Revision • Jan 23
Analysts lower EPS estimates to €0.76 The 2020 consensus revenue estimate was lowered from €524.2m to €516.3m. Earning per share (EPS) estimate was also lowered from €0.90 to €0.76 for the same period. Net income is expected to shrink by 39% next year compared to 12% growth forecast for the Pharmaceuticals industry in France . The consensus price target was lowered from €41.17 to €40.07. Share price is down by 3.3% to €35.50 over the past week. Is New 90 Day High Low • Jan 19
New 90-day low: €36.10 The company is down 14% from its price of €42.00 on 21 October 2020. The French market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €34.39 per share. Major Estimate Revision • Oct 24
Analysts update estimates The 2020 consensus earning per share (EPS) estimate was lowered from €1.08 to €0.97. Revenue estimate was approximately flat at €533.6m. Net income is expected to shrink by 27% next year compared to 5.6% growth forecast for the Pharmaceuticals industry in France . The consensus price target of €41.67 was unchanged from the last update. Share price is down by 2.4% to €41.00 over the past week. Is New 90 Day High Low • Sep 18
New 90-day high: €40.80 The company is up 18% from its price of €34.50 on 19 June 2020. The French market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €29.03 per share.