GRFSNasdaqPharmaceutical PreparationsAlso trades as GIFLF, GIFOF, GIKLY
Grifols SA
Financials through fiscal 2024, year ended Dec 31, 2024Last filing: 20-F on Apr 17, 2026
$7.64+0.00 (0.00%)
Close on Oct 19, 2026
Margins
Share of revenue, fiscal years 2014 to 2024
Gross margin
38.7%−7.2 pts over 5 years
Operating margin
16.5%−5.7 pts over 5 years
Net margin
2.2%−10.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2024
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +9.4% | +13.5% | +7.2% | – | |
| Gross profit | +12.5% | +12.5% | +3.6% | – | |
| Operating income | +52.4% | +26.1% | +1.0% | – | |
| Net income | +270.8% | -6.0% | -24.2% | – | |
| EPS, diluted | +283.3% | -6.3% | -24.0% | – | |
| Free cash flow | – | +24.2% | +21.0% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2015 | FY2019 | FY2024 | Trend |
|---|---|---|---|---|
| Return on equity | – | 13.8% | 2.8% | |
| Return on assets | – | 4.5% | 0.7% | |
| Current ratio | – | 3.92 | 2.66 | |
| Debt to equity | – | 0.76 | 0.45 | |
| Net debt to EBITDA | – | 2.05× | 1.03× | |
| Interest coverage | 4.0× | 3.3× | 1.7× | |
| Inventory turnover | – | 1.3× | 1.3× | |
| Capex to revenue | 13.3% | 6.1% | 3.2% | |
| Diluted shares | 684M | 685M | 680M |
Where the cash went
Fiscal 2020 to 2024, five years combined
Grifols generated €2.83B from operations and spent €1.77B on capital expenditure, dividends and share buybacks. 72% of that went back into the business.
Generated
€2.83B
Used
€1.77B
Capital expenditure€1.27B72%Dividends€373.73M21%Share buybacks€129.16M7%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin2.2%
×Asset turnover0.34×
×Equity multiplier3.77×
=Return on equity, FY20242.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | 2.2% | 0.34× | 3.77× | 2.8% |
| FY2023 | 0.6% | 0.31× | 3.83× | 0.8% |
| FY2022 | 3.1% | 0.30× | 3.62× | 3.3% |
| FY2021 | 3.8% | 0.29× | 3.25× | 3.6% |
| FY2020 | 11.6% | 0.35× | 3.10× | 12.5% |
| FY2019 | 12.3% | 0.36× | 3.10× | 13.8% |
| FY2018 | 13.3% | 0.38× | 2.98× | 15.2% |
| FY2017 | 15.3% | 0.41× | 2.86× | 18.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2024 against fiscal 2023
8of 9 tests passed in fiscal 2024. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero€156.92M
- Cash generatingOperating cash flow above zero€902.17M
- Return on assets improvedROA up on the prior year0.2% → 0.7%
- Earnings backed by cashOperating cash flow above net income€902.17M vs €156.92M
- Less leverageLong-term debt to assets fell17.4% → 10.9%
- Better liquidityCurrent ratio rose2.64 → 2.66
- No dilutionShare count did not rise677M → 680M
- Gross margin improvedGross margin up on the prior year37.67% → 38.75%
- More efficientAsset turnover rose0.31 → 0.34