20 years of historical data (2005–2024) · Healthcare · Drug Manufacturers - General
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Grifols, S.A. trades at 33.5x earnings, 34% below its 5-year average of 51.0x, sitting at the 64th percentile of its historical range. Compared to the Healthcare sector median P/E of 23.7x, the stock trades at a premium of 42%. On a free-cash-flow basis, the stock trades at 3.8x P/FCF, 76% below the 5-year average of 15.6x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.3B | $5.1B | $7.9B | $5.8B | $7.7B | $12.6B | $15.5B | $12.6B | $15.7B | $11.0B | $11.1B |
| Enterprise Value | $13.1B | $14.2B | $18.3B | $15.0B | $17.2B | $19.0B | $22.6B | $17.6B | $20.8B | $15.0B | $14.7B |
| P/E Ratio → | 33.54 | 32.35 | 128.44 | 27.42 | 41.59 | 25.26 | 24.78 | 21.10 | 23.63 | 20.09 | 20.77 |
| P/S Ratio | 0.28 | 0.70 | 1.19 | 0.95 | 1.55 | 2.37 | 3.03 | 2.80 | 3.63 | 2.71 | 2.82 |
| P/B Ratio | 0.61 | 0.59 | 1.05 | 0.72 | 1.05 | 1.88 | 2.01 | 2.68 | 4.32 | 2.95 | 3.36 |
| P/FCF | 3.75 | 9.53 | — | — | 21.89 | 15.23 | 98.69 | 29.26 | 30.23 | 42.19 | 63.20 |
| P/OCF | 2.21 | 5.61 | 35.93 | — | 12.82 | 11.38 | 27.17 | 17.05 | 18.63 | 19.87 | 14.95 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Grifols, S.A.'s enterprise value stands at 6.8x EBITDA, 50% below its 5-year average of 13.7x. The Healthcare sector median is 13.8x, placing the stock at a 51% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.96 | 2.78 | 2.47 | 3.48 | 3.55 | 4.43 | 3.92 | 4.82 | 3.70 | 3.74 |
| EV / EBITDA | 6.81 | 8.69 | 14.93 | 12.55 | 17.98 | 14.40 | 15.76 | 14.37 | 17.07 | 13.13 | 12.69 |
| EV / EBIT | 9.31 | 13.53 | 25.37 | 19.14 | 29.38 | 17.22 | 19.80 | 17.57 | 22.01 | 15.91 | 16.09 |
| EV / FCF | — | 26.69 | — | — | 49.10 | 22.85 | 144.29 | 40.88 | 40.11 | 57.50 | 83.77 |
Margins and return-on-capital ratios measuring operating efficiency
Grifols, S.A. earns an operating margin of 16.5%. Operating margins have expanded from 12.9% to 16.5% over the past 3 years, signaling improving operational efficiency. ROE of 1.9% is modest. ROIC of 5.0% represents adequate returns on invested capital.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.7% | 38.7% | 37.7% | 36.5% | 39.8% | 42.2% | 45.9% | 45.7% | 49.8% | 47.2% | 49.1% |
| Operating Margin | 16.5% | 16.5% | 11.9% | 12.9% | 12.1% | 18.7% | 22.2% | 22.2% | 23.2% | 23.2% | 24.7% |
| Net Profit Margin | 2.2% | 2.2% | 0.6% | 3.1% | 3.8% | 11.6% | 12.3% | 13.3% | 15.3% | 13.5% | 13.5% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.9% | 1.9% | 0.5% | 2.4% | 2.7% | 8.6% | 10.1% | 14.3% | 18.0% | 15.5% | 17.8% |
| ROA | 0.7% | 0.7% | 0.2% | 0.9% | 1.1% | 3.8% | 4.2% | 5.1% | 6.3% | 5.5% | 5.9% |
| ROIC | 5.0% | 5.0% | 3.3% | 3.5% | 3.0% | 5.4% | 6.9% | 8.1% | 9.1% | 9.6% | 11.4% |
| ROCE | 6.3% | 6.3% | 4.1% | 4.5% | 4.0% | 6.7% | 8.3% | 9.4% | 10.6% | 10.7% | 12.2% |
Solvency and debt-coverage ratios — lower is generally safer
Grifols, S.A. carries a Debt/EBITDA ratio of 6.2x, which is highly leveraged (99% above the sector average of 3.1x). Net debt stands at $9.1B ($10.1B total debt minus $980M cash). Interest coverage of just 1.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.17 | 1.17 | 1.47 | 1.22 | 1.39 | 1.03 | 1.04 | 1.28 | 1.65 | 1.31 | 1.44 |
| Debt / EBITDA | 6.19 | 6.19 | 8.97 | 8.17 | 10.65 | 5.25 | 5.56 | 4.93 | 4.93 | 4.28 | 4.10 |
| Net Debt / Equity | — | 1.06 | 1.40 | 1.15 | 1.30 | 0.94 | 0.93 | 1.06 | 1.41 | 1.07 | 1.10 |
| Net Debt / EBITDA | 5.59 | 5.59 | 8.53 | 7.71 | 9.96 | 4.81 | 4.98 | 4.09 | 4.20 | 3.50 | 3.12 |
| Debt / FCF | — | 17.15 | — | — | 27.20 | 7.63 | 45.61 | 11.63 | 9.88 | 15.31 | 20.57 |
| Interest Coverage | 1.54 | 1.54 | 1.52 | 1.76 | 2.55 | 3.50 | 3.49 | 3.63 | 4.02 | 4.11 | 4.32 |
Short-term solvency ratios and asset-utilisation metrics
Grifols, S.A.'s current ratio of 2.66x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.01x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.32x to 2.66x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.66 | 2.66 | 2.64 | 2.32 | 1.59 | 2.37 | 3.92 | 2.77 | 3.01 | 2.91 | 2.93 |
| Quick Ratio | 1.01 | 1.01 | 1.14 | 0.72 | 0.94 | 0.87 | 2.21 | 1.22 | 1.35 | 1.38 | 1.57 |
| Cash Ratio | 0.46 | 0.46 | 0.28 | 0.29 | 0.77 | 0.44 | 1.80 | 0.82 | 0.91 | 0.84 | 1.08 |
| Asset Turnover | — | 0.34 | 0.31 | 0.29 | 0.26 | 0.35 | 0.29 | 0.36 | 0.40 | 0.40 | 0.41 |
| Inventory Turnover | 1.24 | 1.24 | 1.18 | 1.19 | 1.31 | 1.54 | 1.05 | 1.25 | 1.33 | 1.30 | 1.40 |
| Days Sales Outstanding | — | 54.62 | 38.36 | 46.60 | 32.12 | 26.19 | 37.81 | 32.67 | 32.57 | 47.63 | 44.32 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Grifols, S.A. returns 0.0% to shareholders annually primarily through dividends. The payout ratio of 0.6% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.0% | 0.0% | — | 0.0% | 3.3% | 0.9% | 1.5% | 2.2% | 1.4% | 2.0% | 2.0% |
| Payout Ratio | 0.6% | 0.6% | — | 0.3% | 133.8% | 18.3% | 38.2% | 46.7% | 32.9% | 39.6% | 41.7% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.0% | 3.1% | 0.8% | 3.6% | 2.4% | 4.0% | 4.0% | 4.7% | 4.2% | 5.0% | 4.8% |
| FCF Yield | 26.6% | 10.5% | — | — | 4.6% | 6.6% | 1.0% | 3.4% | 3.3% | 2.4% | 1.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.1% | 1.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.5% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.1% | 4.9% | 0.9% | 1.5% | 2.2% | 1.4% | 2.1% | 2.5% |
| Shares Outstanding | — | $680M | $680M | $680M | $682M | $686M | $664M | $685M | $684M | $684M | $686M |
Compare GRFS with 4 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| GRFSYou | $2B | 33.5 | 6.8 | 3.8 | 38.7% | 16.5% | 1.9% | 5.0% | 6.2 |
| MRK | $307B | 17.0 | 9.9 | — | 81.5% | 41.2% | 37.1% | 32.6% | — |
| PFE | $157B | 20.3 | 7.7 | — | 70.3% | 24.7% | 8.6% | 9.4% | — |
| GSK | $119B | 16.2 | 9.6 | 15.1 | 72.5% | 21.9% | 38.5% | 18.6% | 1.7 |
| SNY | $118B | 20.3 | 11.9 | 11.2 | 72.3% | 13.6% | 10.4% | 5.5% | 2.3 |
| Healthcare Median | — | 23.7 | 13.8 | 18.8 | 65.8% | -6.3% | -37.3% | -15.0% | 3.1 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 20 years · Updated daily
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Start ComparisonGrifols, S.A.'s current P/E ratio is 33.5x. The historical average is 37.8x. This places it at the 64th percentile of its historical range.
Grifols, S.A.'s current EV/EBITDA is 6.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.5x.
Grifols, S.A.'s return on equity (ROE) is 1.9%. The historical average is 15.6%.
Based on historical data, Grifols, S.A. is trading at a P/E of 33.5x. This is at the 64th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Grifols, S.A.'s current dividend yield is 0.02% with a payout ratio of 0.6%.
Grifols, S.A. has 38.7% gross margin and 16.5% operating margin. Operating margin between 10-20% is typical for established companies.
Grifols, S.A.'s Debt/EBITDA ratio is 6.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.