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1. Company Snapshot

1.a. Company Description

Coloplast A/S develops and sells intimate healthcare products and services in Denmark, the United States, the United Kingdom, France, and internationally.The company operates through Chronic Care, Interventional Urology, Voice and Respiratory Care, and Wound & Skin Care segments.It provides ostomy care products, including SenSura Mio, which provides fit individual body shapes and optimal discretion for various types of ostomies; and SenSura Ostomy care solutions, as well as ostomy accessories under the Brava brand.


The company also offers continence care products, such as Conveen Active urine bags; SpeediCath catheters that offer catheterization for both genders; and Peristeen, a transanal irrigation system.In addition, it provides wound care products comprising conforming dressing under the Biatain Silicone brand and hydrocolloid dressing under the Comfeel brand; and skin care products that include cleansers, moisturizers, skin protectants, antifungal products, hand cleanser, and odor control products, as well as InterDry, a skin fold management solution.Further, the company develops, produces, and markets products for the surgical treatment of urological and gynecological disorders, such as urinary stone diseases, benign prostate hyperplasia, voiding dysfunctions, erectile dysfunction, and urinary incontinence.


Additionally, it offers voice and respiratory products, including medical devices for neck stoma under the Provox brand; and products for tracheostoma under the TRACOE brand.The company was founded in 1954 and is headquartered in Humlebæk, Denmark.

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1.b. Last Insights on COLO

Coloplast A/S faces market challenges despite reporting 6% organic revenue growth in Q1 2025/26. The company's soft start in Ostomy Care, disruptions in key markets, and 4%-point negative currency impact on reported revenue in DKK, hinder growth. Additionally, executive leadership team changes, including the departure of the EVP of People & Culture, may pose uncertainty. With a reported revenue growth of 0%, the company's performance may be viewed as underwhelming. (Source: Coloplast A/S - Interim Financial Report, Q1 2025/26)

1.c. Company Highlights

2. Coloplast's Q1 '25-'26: A Soft Start with Growth Rebound Expected

Coloplast reported a 6% organic revenue growth and 3% EBIT growth in constant currencies before special items in Q1 '25-'26. The company's gross margin stood at 67%, with an EBIT margin before special items at 26%. The EPS came in at '6.21', beating estimates of '6.1'. The reported revenue increased by 0%, with organic growth contributing 6%. Operating profit before special items was DKK 1.9 billion.

Publication Date: Feb -08

📋 Highlights
  • Organic Revenue & EBIT Growth:: 6% organic revenue growth and 3% EBIT growth in Q1 '25-'26, with ROIC at 15% before special items.
  • Kerecis Performance:: 10% organic growth but 1% EBIT margin in Q1, with full-year EBIT margin expected to rise to double digits from 1%.
  • Leadership Changes:: Dorthe Ronnau and Tommy Johns exiting, impacting organizational structure amid strategic shifts.
  • Guidance Reaffirmed:: 7% organic and EBIT growth guidance for FY '25-'26, with 16% ROIC target, despite inflation and manufacturing costs.
  • Product & Market Dynamics:: Urology growth at 8% driven by Men's Health, while Kerecis faces Medicare outpatient reimbursement challenges but expects recovery in inpatient segment.

Segment Performance

Interventional Urology delivered an 8% organic growth driven by the Men's Health business. Kerecis, on the other hand, reported 10% organic growth but with a significantly low EBIT margin of 1%. The Wound Care business was impacted by a recall in China, resulting in a low single-digit growth expected during the strategic period. Ostomy Care growth was also affected by the China headwind. The inpatient setting for Kerecis is expected to have a very healthy double-digit growth.

Guidance and Outlook

The company maintains its guidance of around 7% organic growth for the year and has lowered growth expectations for Kerecis to around 10%. Coloplast expects a significant EBIT margin uplift in Kerecis for the rest of the year, with a full-year EBIT margin around double digits. The company anticipates organic revenue growth and EBIT growth in constant currencies to be second-half weighted, following a soft start in Q1.

Valuation and Growth Expectations

With a P/E Ratio of 27.84 and an ROE of 25.2%, the market seems to have priced in a certain level of growth. Analysts estimate next year's revenue growth at 7.4%. The company's ROIC stands at 10.89%, indicating efficient capital allocation. The Dividend Yield is 4.66%, making it an attractive income-generating stock.

Key Drivers and Risks

The key drivers for Kerecis include a price change and strong clinical data, with stabilization in the Medicare outpatient challenge expected within three months. Risks include driving growth below 10% guidance. In Urology, 8% organic growth was driven by a solid underlying momentum, with high single-digit growth expected for the rest of the year. The acquisition of Uromedica is expected to complement the portfolio in Men's Health with minimal financial impact.

3. NewsRoom

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Coloplast A/S - Updated Financial Calendar 2025-26

Feb -11

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Coloplast AS (CLPBF) Q1 2026 Earnings Call Highlights: Strong Organic Growth Amid Market Challenges

Feb -06

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Coloplast A/S - Interim Financial Report, Q1 2025/26

Feb -06

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European Value Stocks Trading Below Estimated Worth In February 2026

Feb -05

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Coloplast A/S - Q1 2025/26 Earnings Release - Invitation for conference call on 6 Feb 2026 at 11.00am CET

Jan -26

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CLPBY vs. PEN: Which Stock Is the Better Value Option?

Jan -12

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3 European Stocks Estimated To Be Up To 49.9% Below Intrinsic Value

Jan -07

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Coloplast announces changes to Executive Leadership Team

Dec -18

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.72%)

6. Segments

Chronic Care

Expected Growth: 5.3%

Increasing prevalence of chronic diseases, rising demand for efficient wound care solutions, and growing adoption of urology products drive Coloplast A/S’s Chronic Care segment growth.

Advanced Wound Dressings

Expected Growth: 6.8%

Advanced wound dressings growth is driven by increasing prevalence of chronic wounds, rising demand for effective wound management, and growing adoption of advanced wound care technologies, such as antimicrobial dressings and foam dressings, leading to a projected CAGR of 6.8%.

Interventional Urology

Expected Growth: 7.4%

Coloplast A/S's Interventional Urology solutions drive growth, driven by increasing demand, advancing technology, and expanding indications, fuelling market growth.

Voice and Respiratory Care

Expected Growth: 5.3%

Increasing adoption of respiratory care solutions, driven by growing prevalence of respiratory diseases and advancements in voice and respiratory care technology, are expected to drive the segment's growth.

Biologics

Expected Growth: 6.3%

Coloplast A/S’s wound and skin care biologics are driven by increasing prevalence of chronic wounds, growing demand for advanced wound care products, and rising healthcare expenditure globally.

7. Detailed Products

Ostomy Care

Coloplast's Ostomy Care products are designed to help people with ostomies to live a normal life, with a range of pouches, accessories, and accessories for colostomy, ileostomy, and urostomy.

Continence Care

Coloplast's Continence Care products are designed to help people with urinary incontinence, including catheters, leg bags, and accessories.

Wound & Skin Care

Coloplast's Wound & Skin Care products are designed to promote wound healing and skin health, including dressings, creams, and cleansers.

Intermittent Catheters

Coloplast's Intermittent Catheters are designed for people who require intermittent catheterization, providing a convenient and discreet way to manage their bladder.

Male Urology

Coloplast's Male Urology products are designed to help men with urological conditions, including erectile dysfunction and benign prostatic hyperplasia (BPH).

8. Coloplast A/S's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Coloplast A/S is medium due to the presence of alternative products and services in the market, but the company's strong brand reputation and product differentiation mitigate this threat.

Bargaining Power Of Customers

The bargaining power of customers for Coloplast A/S is low due to the company's strong relationships with its customers and the lack of buyer concentration in the market.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Coloplast A/S is medium due to the presence of multiple suppliers in the market, but the company's large scale of operations and strong relationships with suppliers mitigate this threat.

Threat Of New Entrants

The threat of new entrants for Coloplast A/S is low due to the high barriers to entry in the market, including regulatory hurdles and the need for significant capital investment.

Intensity Of Rivalry

The intensity of rivalry for Coloplast A/S is high due to the presence of several established competitors in the market, leading to a highly competitive environment.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 53.08%
Debt Cost 4.11%
Equity Weight 46.92%
Equity Cost 5.54%
WACC 4.78%
Leverage 113.11%

11. Quality Control: Coloplast A/S passed 3 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

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

480.6$

Current Price

480.6$

Potential

-0.00%

Expected Cash-Flows