Added to YB: 2026-03-12
Pitch date: 2026-03-09
STVN [bullish]
Stevanato Group S.p.A.
-6.33%
current return
Author Info
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Company Info
Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide solutions for biopharma and healthcare industries in Europe, the Middle East, Africa, North America, South America, and the Asia Pacific.
Market Cap
$3.7B
Pitch Price
$15.63
Price Target
N/A
Dividend
0.40%
EV/EBITDA
13.83
P/E
26.35
EV/Sales
3.38
Sector
Life Sciences Tools and Services
Category
growth
Stevanato Group: Leadership, growth and capital efficiency in the age of Injectables
STVN: Pharma packaging supplier for injectables w/ 93% family-controlled voting. Biologics grew from 21% to 41% of rev (GLP-1s are 19-20%). HVS (high-value solutions) segment grew 35% CC in Q4, now 46% of sales vs 17% in 2019, driving margin expansion. FY25 rev +9% CC; high CapEx (>20% IRR projects) extends to 2028 vs 2027 guidance. Board includes ex-West Pharma execs (WST compounded 14% over 45yrs). Mgmt incentivized on rev growth + ROIC. Trading 11.6x fwd EV/EBITDA vs 18.9x historical median. Target: 16% IRR as EBITDA margin expands from 25% to 30%+ post-ramp, FCF conversion improves to 40% w/ normalized CapEx.
Read full article (7 min)