Download PDF

1. Company Snapshot

1.a. Company Description

Straumann Holding AG provides tooth replacement and orthodontic solutions worldwide.It researches, develops, manufactures, and supplies dental implants, instruments, CADCAM prosthetics, orthodontic aligners, biomaterials, and digital solutions for use in tooth correction, replacement, and restoration, as well as to prevent tooth loss.The company offers dental implant systems for tissue and bone level; titanium, titanium alloy, ceramic, and mini dental implant systems; and guided and non-guided surgical instruments, as well as implant-borne prosthetics.


It provides ceramic healing and screw retained abutments; intraoral scanning solutions; 3D printers; milling machines; and prevention products.In addition, it offers biomaterials, bone substitutes, membranes, biologics, and soft tissue management and oral healing products; digital solutions for dental labs, dentists, and centralized milling centers, as well as materials, third party systems, and guided surgery; surgical instruments comprising surgical and modular cassettes, guided instruments, implant maintenance products, bone block fixation sets, bonerings, titanium pin sets, and other cassettes; and edentulous, pro arch fixed, prosthetic, and mini implant solutions for edentulous patients.Further, it provides esthetic restorations that include ceramic implant monotypes, ceramic implants, abutments, biologics, and other solutions; and Emdogain for wound healing.


Further, it offers systems Clear Correct aligners; and training and education services to its customers.The company provides its products to general dentists, specialists, and dental technicians and laboratories, as well as corporate customers, such as distributors, hospitals, universities, and dental service organizations in approximately 100 countries through a network of distribution subsidiaries and partners.Straumann Holding AG was founded in 1954 and is headquartered in Basel, Switzerland.

Show Full description

1.b. Last Insights on STMN

Straumann Holding's recent performance was negatively impacted by its first half 2025 earnings miss, which fell short of expectations. The company's growth was likely hindered by increasing competition in the dental implant market, with NTA Implant achieving MDR certification and solidifying its global leadership. However, Straumann has made strategic moves, including a partnership with Smartee to co-develop orthodontics platforms and clear aligner technologies. Additionally, the company's focus on innovation and expansion into emerging markets, such as Turkey, where dental tourism is on the rise, may provide future growth opportunities.

1.c. Company Highlights

2. Straumann Group's Q3 2025 Results: Strong Organic Growth and Strategic Updates

The Straumann Group reported a strong financial performance in Q3 2025, with revenue reaching CHF 602 million, representing an 8.3% organic growth. The company's reported revenue grew by 2.9%, with the difference between reported and organic growth attributed to currency fluctuations. The earnings per share (EPS) came in at CHF 1.69, slightly below the estimated EPS of CHF 1.82. The core EBIT margin improvement was in line with expectations, supporting the company's full-year 2025 outlook of high single-digit organic revenue growth and a 30 to 60 basis point improvement in the core EBIT margin.

Publication Date: Oct -31

📋 Highlights
  • Organic Revenue Growth:: Q3 2025 organic growth reached 8.3% (CHF 602M revenue), with 9.6% growth YTD, supporting full-year high single-digit growth and 30-60 bps EBIT margin improvement.
  • Regional Performance:: EMEA grew 11.2% (driven by orthodontics and implants), Latin America delivered double-digit growth across all segments, while Asia Pacific slowed due to China’s VBP 2.0 impact.
  • Strategic Partnerships:: Collaboration with Smartee and DentalMonitoring to enhance ClearCorrect’s value proposition and AI-powered monitoring, aiming for 10% U.S. clear aligner market share.
  • iEXCEL Success:: 1M+ units sold globally, with 20% of North American implant sales, driving market share gains and innovation leadership in digital dentistry (e.g., SIRIOS X3 scanner).
  • China Outlook:: Q3 flattish due to VBP 2.0, but expects low double-digit growth in 2026-2028 via local manufacturing, product innovation, and pent-up demand, despite short-term destocking and pricing pressures.

Regional Performance

The regional performance was mixed, with EMEA achieving 11.2% organic revenue growth, driven by double-digit growth in orthodontics and strong traction from recent innovations in the core implant segment. North America delivered solid growth, with organic growth accelerating to 5.7%. However, Asia Pacific experienced a significant slowdown due to the initial effect of VBP 2.0 in China. Latin America delivered double-digit growth across all segments.

Strategic Updates

The company provided strategic updates, focusing on the ClearCorrect orthodontic brand. A partnership with Smartee will enhance the ClearCorrect value proposition, while a collaboration with DentalMonitoring will expand AI-powered remote monitoring technology. As Guillaume Daniellot stated, "We're investing in Smartee to improve our clear aligner business." This partnership is expected to drive growth and improve profitability.

Valuation Metrics

To understand what's priced in, we can look at the company's valuation metrics. The current P/E Ratio is 39.21, indicating a relatively high valuation. The P/S Ratio is 5.99, and the EV/EBITDA is 18.37. The ROE is 19.17%, and the ROIC is 16.74%. These metrics suggest that the company's growth prospects are already priced in, and any disappointment in growth or margin expansion could lead to a revaluation.

Outlook

The company remains confident in its full-year 2025 outlook, with high single-digit organic revenue growth and a 30 to 60 basis point improvement in the core EBIT margin. The upcoming Capital Markets Day on November 25 will provide a deeper look at the company's market priorities, innovation roadmap, and ambitions. Analysts estimate next year's revenue growth at 7.7%, which is slightly lower than the current year's growth rate.

3. NewsRoom

Card image cap

Australia Dental Diagnostics and Surgical Equipment Market: Analysis of Key Trends and Innovations (2025-2033) Featuring Danaher, Straumann, Henry Schein and More

Nov -06

Source:

Card image cap

Straumann Holding AG (VTX:STMN) surges 12%; retail investors who own 38% shares profited along with insiders

Nov -05

Source:

Card image cap

Smartee and Straumann Announce Strategic Partnerships to Accelerate Innovation in Orthodontics

Oct -29

Source:

Card image cap

Dental Materials and Implant Systems in Istanbul: What Patients Should Know (2025)

Oct -24

Source:

Card image cap

MMSI vs. SAUHY: Which Stock Is the Better Value Option?

Oct -02

Source:

Card image cap

NTA Implant: Solidifying Global Leadership with MDR Certification and Launching a New Era in Implantology

Sep -19

Source:

Card image cap

Straumann Holding First Half 2025 Earnings: Misses Expectations

Aug -18

Source:

Card image cap

Dental Soft Tissue Regeneration Markets 2021-2024 & 2025-2031 with Analyst Recommendations - Developing Cost-effective, Faster-acting Regenerative Materials / Untapped Potential in Emerging Markets

Aug -07

Source:

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.30%)

6. Segments

Operations

Expected Growth: 8.0%

Operations is expected to grow steadily due to increased demand for dental implants and restorative solutions. Straumann's expanding product portfolio and efficient supply chain will support this growth. The segment's growth will be driven by the company's ability to innovate and improve production efficiency.

Sales Europe, Middle East and Africa (EMEA)

Expected Growth: 9.0%

EMEA sales are expected to grow due to the region's large and established market, increasing adoption of premium products, and the company's strong distribution network. Straumann's innovative products and excellent customer service will drive growth in this segment.

Sales North America (NAM)

Expected Growth: 11.0%

NAM sales are expected to grow rapidly due to the region's high awareness of dental aesthetics and increasing demand for premium dental products. Straumann's strong brand presence, innovative product offerings, and growing market share will drive growth in this segment.

Sales Asia Pacific (APAC)

Expected Growth: 12.0%

APAC sales are expected to grow rapidly due to the region's large and growing market, increasing dental awareness, and rising demand for dental implants. Straumann's strong presence in China and other APAC countries, combined with its innovative products, will drive growth in this segment.

Sales Latin America (LATAM)

Expected Growth: 10.0%

LATAM sales are expected to grow steadily due to the region's growing dental market, increasing adoption of dental implants, and Straumann's expanding presence. The segment's growth will be driven by the company's strong distribution network and innovative product offerings.

Eliminations

Expected Growth: 0.0%

Eliminations are not expected to grow as they represent the elimination of inter-segment transactions. The segment's growth will be neutral, as it is a non-operating item.

7. Detailed Products

Dental Implants

Straumann's dental implants are designed to replace missing teeth and provide a natural-looking and feeling smile.

CARES Digital Dentistry

CARES is a digital dentistry system that offers a comprehensive solution for dental labs and clinics, including CAD/CAM, 3D printing, and milling.

Bone and Tissue Regeneration

Straumann's bone and tissue regeneration products are designed to promote bone growth and tissue regeneration in dental implant procedures.

Prosthetic Components

Straumann's prosthetic components, including abutments and crowns, are designed to work in harmony with their dental implants.

Digital Dentures

Straumann's digital dentures are designed to provide a precise and comfortable fit, using advanced digital technology.

8. Straumann Holding AG's Porter Forces

Forces Ranking

Threat Of Substitutes

Straumann Holding AG operates in the dental implant industry, where substitutes are limited. However, the company faces competition from other dental implant manufacturers, which could be considered substitutes.

Bargaining Power Of Customers

Dental clinics and hospitals, Straumann's customers, have limited bargaining power due to the company's strong brand reputation and high-quality products.

Bargaining Power Of Suppliers

Straumann Holding AG has a diversified supplier base, which reduces the bargaining power of individual suppliers. The company's strong financial position also gives it negotiating power.

Threat Of New Entrants

The dental implant industry has high barriers to entry, including regulatory hurdles and significant R&D investments. This limits the threat of new entrants.

Intensity Of Rivalry

The dental implant industry is highly competitive, with several established players competing for market share. Straumann Holding AG faces intense rivalry from companies like Nobel Biocare and Zimmer Biomet.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 12.48%
Debt Cost 5.58%
Equity Weight 87.52%
Equity Cost 9.90%
WACC 9.36%
Leverage 14.27%

11. Quality Control: Straumann Holding AG passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Roche

A-Score: 5.3/10

Value: 2.0

Growth: 3.0

Quality: 6.4

Yield: 6.2

Momentum: 6.0

Volatility: 8.0

1-Year Total Return ->

View Full Report
Stock-Card
EssilorLuxottica

A-Score: 5.2/10

Value: 0.8

Growth: 5.8

Quality: 6.2

Yield: 3.1

Momentum: 8.0

Volatility: 7.0

1-Year Total Return ->

View Full Report
Stock-Card
Sonova

A-Score: 4.5/10

Value: 2.5

Growth: 4.6

Quality: 7.3

Yield: 3.1

Momentum: 1.0

Volatility: 8.7

1-Year Total Return ->

View Full Report
Stock-Card
Coloplast

A-Score: 4.5/10

Value: 1.8

Growth: 4.1

Quality: 6.7

Yield: 5.6

Momentum: 0.0

Volatility: 8.7

1-Year Total Return ->

View Full Report
Stock-Card
Straumann

A-Score: 3.9/10

Value: 0.9

Growth: 5.7

Quality: 8.0

Yield: 3.1

Momentum: 0.5

Volatility: 5.3

1-Year Total Return ->

View Full Report
Stock-Card
Sartorius Stedim Biotech

A-Score: 3.0/10

Value: 0.7

Growth: 5.6

Quality: 4.7

Yield: 0.0

Momentum: 4.0

Volatility: 3.0

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

91.7$

Current Price

91.7$

Potential

-0.00%

Expected Cash-Flows