New Risk • Jul 20
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining 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: Minor Risks High level of debt (111% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Jun 28
Dermapharm Holding Se Confirms Earnings Guidance for 2026 Dermapharm Holding SE confirmed earnings guidance for 2026. The company expects consolidated revenue of between EUR 1,182 million and EUR 1,218 million. Upcoming Dividend • Jun 22
Upcoming dividend of €0.88 per share Eligible shareholders must have bought the stock before 29 June 2026. Payment date: 01 July 2026. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (2.8%). Announcement • May 18
Dermapharm Holding SE, Annual General Meeting, Jun 26, 2026 Dermapharm Holding SE, Annual General Meeting, Jun 26, 2026, at 10:00 W. Europe Standard Time. New Risk • May 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.8% 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 4.8% per year for the foreseeable future. Minor Risk High level of debt (111% net debt to equity). Recent Insider Transactions • May 18
Chairman of the Supervisory Board recently bought €833m worth of stock On the 14th of May, Wilhelm Beier bought around 18m shares on-market at roughly €46.83 per share. This transaction increased Wilhelm's direct individual holding by 5x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Wilhelm has been a buyer over the last 12 months, purchasing a net total of €955m worth in shares. Reported Earnings • May 14
First quarter 2026 earnings released: EPS: €0.84 (vs €0.62 in 1Q 2025) First quarter 2026 results: EPS: €0.84 (up from €0.62 in 1Q 2025). Revenue: €318.9m (up 4.5% from 1Q 2025). Net income: €45.2m (up 35% from 1Q 2025). Profit margin: 14% (up from 11% in 1Q 2025). Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 02
Dividend reduced to €0.88 Dividend of €0.88 is 2.2% lower than last year. Ex-date: 29th June 2026 Payment date: 1st July 2026 Dividend yield will be 1.9%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (42% earnings payout ratio) and cash flows (29% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 7 years. However, payments have been volatile during that time. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 01
Dermapharm Holding SE announces Annual dividend, payable on July 01, 2026 Dermapharm Holding SE announced Annual dividend of EUR 0.8800 per share payable on July 01, 2026, ex-date on June 29, 2026 and record date on June 30, 2026. Announcement • Mar 11
Dermapharm Holding SE (XTRA:DMP) announces an Equity Buyback for 4,300,000 shares, representing 7.99% for €180.6 million. Dermapharm Holding SE (XTRA:DMP) announces a share repurchase program. Under the program, the company will repurchase up to 4,300,000 shares, representing 7.99% of the share capital of the Company. The shares will be repurchased at a price of €42 per share. The repurchased shares are intended to be cancelled. If more than 4,300,000 shares are tendered for repurchase into the offer, acceptances will be taken into account on a pro-rata basis in the ratio of 4,300,000 shares to the total number of shares tendered for repurchase by the shareholders. The offer ends, subject to an extension by the company, on March 24, 2026. Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: €0.76 (vs €0.60 in 3Q 2024) Third quarter 2025 results: EPS: €0.76 (up from €0.60 in 3Q 2024). Revenue: €312.6m (flat on 3Q 2024). Net income: €41.2m (up 27% from 3Q 2024). Profit margin: 13% (up from 10% in 3Q 2024). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. New Risk • Sep 01
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 137% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (137% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 26
Second quarter 2025 earnings released: EPS: €0.39 (vs €0.32 in 2Q 2024) Second quarter 2025 results: EPS: €0.39 (up from €0.32 in 2Q 2024). Revenue: €280.8m (down 1.0% from 2Q 2024). Net income: €20.9m (up 21% from 2Q 2024). Profit margin: 7.4% (up from 6.1% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 23% 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. Recent Insider Transactions • Jul 09
Chairman of the Supervisory Board recently bought €122m worth of stock On the 3rd of July, Wilhelm Beier bought around 3m shares on-market at roughly €34.94 per share. This transaction increased Wilhelm's direct individual holding by 22x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Wilhelm's only on-market trade for the last 12 months. Announcement • Jun 28
Dermapharm Holding SE Approves Annual Dividend Dermapharm Holding SE at its Annual General Meeting held on 26 June 2025, acted on the recommendation of the Board of Management and the Supervisory Board to distribute a dividend of EUR 0.90 per share carrying dividend rights. The total distribution amounts to EUR 48.5 million, representing a distribution ratio of approximately 43% of the consolidated net profit eligible for distribution. Upcoming Dividend • Jun 20
Upcoming dividend of €0.90 per share Eligible shareholders must have bought the stock before 27 June 2025. Payment date: 01 July 2025. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of British dividend payers (5.6%). In line with average of industry peers (2.6%). New Risk • May 23
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • May 16
Dermapharm Holding SE, Annual General Meeting, Jun 26, 2025 Dermapharm Holding SE, Annual General Meeting, Jun 26, 2025, at 10:00 W. Europe Standard Time. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: €0.62 (vs €0.81 in 1Q 2024) First quarter 2025 results: EPS: €0.62 (down from €0.81 in 1Q 2024). Revenue: €310.5m (up 3.0% from 1Q 2024). Net income: €33.4m (down 23% from 1Q 2024). Profit margin: 11% (down from 14% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Pharmaceuticals industry in the United Kingdom. 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 7% per year, which means it has not declined as severely as earnings. Declared Dividend • Mar 17
Dividend of €0.90 announced Shareholders will receive a dividend of €0.90. Ex-date: 27th June 2025 Payment date: 1st July 2025 Dividend yield will be 2.2%, which is lower than the industry average of 2.4%. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to grow by 39% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jan 02
Dermapharm Holding SE to Report Fiscal Year 2024 Results on Mar 14, 2025 Dermapharm Holding SE announced that they will report fiscal year 2024 results on Mar 14, 2025 Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €37.23, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 11x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 49% over the past three years. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: €0.60 (vs €0.46 in 3Q 2023) Third quarter 2024 results: EPS: €0.60 (up from €0.46 in 3Q 2023). Revenue: €337.1m (up 17% from 3Q 2023). Net income: €32.4m (up 30% from 3Q 2023). Profit margin: 9.6% (up from 8.6% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Pharmaceuticals industry in the United Kingdom. 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 24% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: €0.32 (vs €0.17 loss in 2Q 2023) Second quarter 2024 results: EPS: €0.32 (up from €0.17 loss in 2Q 2023). Revenue: €292.6m (up 9.8% from 2Q 2023). Net income: €17.3m (up €26.5m from 2Q 2023). Profit margin: 5.9% (up from net loss in 2Q 2023). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: €0.81 (vs €0.92 in 1Q 2023) First quarter 2024 results: EPS: €0.81 (down from €0.92 in 1Q 2023). Revenue: €309.7m (down 4.1% from 1Q 2023). Net income: €43.6m (down 12% from 1Q 2023). Profit margin: 14% (down from 15% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 20% per year whereas the company’s share price has fallen by 19% per year. Announcement • May 09
Dermapharm Holding SE to Report Q1, 2024 Results on May 15, 2024 Dermapharm Holding SE announced that they will report Q1, 2024 results on May 15, 2024 Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: €1.16 (vs €2.49 in FY 2022) Full year 2023 results: EPS: €1.16 (down from €2.49 in FY 2022). Revenue: €1.19b (up 15% from FY 2022). Net income: €62.4m (down 54% from FY 2022). Profit margin: 5.2% (down from 13% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Announcement • Mar 28
Dermapharm Holding SE, Annual General Meeting, Jun 27, 2024 Dermapharm Holding SE, Annual General Meeting, Jun 27, 2024. Declared Dividend • Mar 16
Dividend of €0.88 announced Shareholders will receive a dividend of €0.88. Ex-date: 6th June 2024 Payment date: 10th June 2024 Dividend yield will be 2.4%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 6.4% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 36% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 14
Dermapharm Holding SE to Report Fiscal Year 2023 Results on Mar 28, 2024 Dermapharm Holding SE announced that they will report fiscal year 2023 results on Mar 28, 2024 New Risk • Nov 18
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 180% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (180% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (8.1% net profit margin). Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: €0.46 (vs €0.98 in 3Q 2022) Third quarter 2023 results: EPS: €0.46 (down from €0.98 in 3Q 2022). Revenue: €307.9m (up 16% from 3Q 2022). Net income: €24.8m (down 53% from 3Q 2022). Profit margin: 8.1% (down from 20% in 3Q 2022). Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Buying Opportunity • Nov 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be €48.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 19%. Revenue is forecast to grow by 0.1% in 2 years. Earnings is forecast to grow by 14% in the next 2 years. Reported Earnings • Aug 30
Second quarter 2023 earnings released: €0.17 loss per share (vs €0.27 profit in 2Q 2022) Second quarter 2023 results: €0.17 loss per share (down from €0.27 profit in 2Q 2022). Revenue: €269.1m (up 11% from 2Q 2022). Net loss: €9.19m (down 163% from profit in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 6.5% growth forecast for the Pharmaceuticals industry in the United Kingdom. Upcoming Dividend • Jun 08
Upcoming dividend of €1.05 per share at 2.3% yield Eligible shareholders must have bought the stock before 15 June 2023. Payment date: 19 June 2023. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.3%. Lower than top quartile of British dividend payers (5.8%). In line with average of industry peers (2.5%). Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: €2.49 (vs €3.89 in FY 2021) Full year 2022 results: EPS: €2.49 (down from €3.89 in FY 2021). Revenue: €1.04b (up 8.4% from FY 2021). Net income: €134.2m (down 36% from FY 2021). Profit margin: 13% (down from 22% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Pharmaceuticals industry in the United Kingdom. Reported Earnings • Nov 17
Third quarter 2022 earnings released: EPS: €0.98 (vs €1.15 in 3Q 2021) Third quarter 2022 results: EPS: €0.98 (down from €1.15 in 3Q 2021). Revenue: €277.8m (up 13% from 3Q 2021). Net income: €52.5m (down 15% from 3Q 2021). Profit margin: 19% (down from 25% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Pharmaceuticals industry in the United Kingdom. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €37.70, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 13x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 53% over the past year. Reported Earnings • Sep 09
Second quarter 2022 earnings released: EPS: €0.27 (vs €0.74 in 2Q 2021) Second quarter 2022 results: EPS: €0.27 (down from €0.74 in 2Q 2021). Revenue: €246.2m (up 12% from 2Q 2021). Net income: €14.5m (down 64% from 2Q 2021). Profit margin: 5.9% (down from 18% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 6.8% growth forecast for the Pharmaceuticals industry in the United Kingdom. Upcoming Dividend • May 26
Upcoming dividend of €2.17 per share Eligible shareholders must have bought the stock before 02 June 2022. Payment date: 06 June 2022. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of British dividend payers (4.8%). Higher than average of industry peers (2.8%). Reported Earnings • May 19
First quarter 2022 earnings released: EPS: €0.69 (vs €0.67 in 1Q 2021) First quarter 2022 results: EPS: €0.69 (up from €0.67 in 1Q 2021). Revenue: €239.1m (up 11% from 1Q 2021). Net income: €37.4m (up 2.9% from 1Q 2021). Profit margin: 16% (down from 17% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.8%, compared to a 5.3% growth forecast for the industry in the United Kingdom. Reported Earnings • Apr 14
Full year 2021 earnings released: EPS: €3.89 (vs €1.59 in FY 2020) Full year 2021 results: EPS: €3.89 (up from €1.59 in FY 2020). Revenue: €960.1m (up 19% from FY 2020). Net income: €209.6m (up 144% from FY 2020). Profit margin: 22% (up from 11% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 10%, compared to a 13% growth forecast for the pharmaceuticals industry in the United Kingdom. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €54.15, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 26x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 3.1% over the past year. Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS €1.15 (vs €0.42 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €264.5m (up 31% from 3Q 2020). Net income: €61.8m (up 173% from 3Q 2020). Profit margin: 23% (up from 11% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Sep 08
Second quarter 2021 earnings released: EPS €0.74 (vs €0.22 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €219.1m (up 16% from 2Q 2020). Net income: €39.8m (up 233% from 2Q 2020). Profit margin: 18% (up from 6.3% in 2Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • May 22
First quarter 2021 earnings released: EPS €0.67 (vs €0.50 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €215.7m (up 10% from 1Q 2020). Net income: €36.3m (up 36% from 1Q 2020). Profit margin: 17% (up from 14% in 1Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Apr 16
Full year 2020 earnings released: EPS €1.59 (vs €1.43 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: €808.3m (up 13% from FY 2019). Net income: €85.8m (up 11% from FY 2019). Profit margin: 11% (in line with FY 2019). Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improved over the past week After last week's 19% share price gain to €73.73, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 25x in the Pharmaceuticals industry in the United Kingdom. Simply Wall St's valuation model estimates the intrinsic value at €87.60 per share. Is New 90 Day High Low • Feb 12
New 90-day high: €63.75 The company is up 29% from its price of €49.38 on 13 November 2020. The British market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €72.23 per share. Is New 90 Day High Low • Jan 07
New 90-day high: €58.25 The company is up 17% from its price of €49.90 on 09 October 2020. The British market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €70.33 per share. Valuation Update With 7 Day Price Move • Nov 24
Market bids up stock over the past week After last week's 19% share price gain to €54.58, the stock is trading at a trailing P/E ratio of 34.5x, up from the previous P/E ratio of 29.2x. This compares to an average P/E of 18x in the Pharmaceuticals industry in the United Kingdom. Analyst Estimate Surprise Post Earnings • Nov 17
Revenue misses expectations Revenue missed analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 11%, compared to a 10.0% growth forecast for the Pharmaceuticals industry in the United Kingdom. Reported Earnings • Nov 17
Third quarter 2020 earnings released: EPS €0.42 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: €208.8m (up 12% from 3Q 2019). Net income: €22.7m (up 18% from 3Q 2019). Profit margin: 11% (in line with 3Q 2019). 
