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1. Company Snapshot

1.a. Company Description

Stevanato Group S.p.A. engages in the design, production, and distribution of products and processes to provide integrated solutions for pharma and healthcare.Its principal products include containment solutions, drug delivery systems, medical devices, diagnostic, analytical services, visual inspection machines, assembling and packaging machines, and glass forming machines.The company was founded in 1949 and is headquartered in Piombino Dese, Italy.


Stevanato Group S.p.A. operates as a subsidiary of Stevanato Holding S.R.L.

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1.b. Last Insights on STVN

Breaking News: Stevanato Group SPA is being compared to Sandoz Group AG Sponsored ADR in the Medical - Drugs sector. The two companies are being evaluated for undervalued stocks. Stevanato Group's recent performance and earnings have not been explicitly mentioned. Analysts are weighing options for value investors. A direct comparison of the two companies' financials and growth prospects is needed. Some analysts may view Stevanato Group as a viable option. Value investors are advised to examine both companies' financial statements. Stevanato Group's management team and industry trends are also being assessed.

1.c. Company Highlights

2. Stevanato Group's Q3 Earnings: A Strong Performance Driven by High-Value Solutions

Stevanato Group reported a solid third-quarter performance, driven by revenue growth, a record mix of high-value solutions, and continued margin expansion. Revenue increased by 9% year-over-year to $303.2 million, with the BDS segment growing by 14%, primarily fueled by demand for high-value solutions such as Nexa syringes and EZ-fill vials. High-value solutions grew 47% and represented 49% of total company revenue. The company's gross profit margin increased to 29.2%, driven by a favorable mix of high-value solutions and financial improvements at its Latin and Fishers facilities. Operating profit margin increased to 17.4%, and adjusted operating profit margin rose 220 basis points to 18.5%. Net profit totaled $36.1 million, with diluted EPS of $0.13, and adjusted diluted EPS increased 17% to $0.14, slightly below the actual EPS of $0.16.

Publication Date: Nov -16

📋 Highlights
  • Revenue Growth: Total revenue rose 9% YoY to $303.2 million, with BDS segment up 14% and high-value solutions contributing 49% of revenue (47% growth).
  • Margin Expansion: Gross profit margin hit 29.2%, operating margin reached 17.4%, and adjusted operating margin rose 220 bps to 18.5%.
  • 2025 Guidance: Revenue projected at $1.16–$1.19 billion, adjusted EBITDA $288.5–$301.8 million, and adjusted diluted EPS $0.50–$0.54.
  • High-Value Solutions Dominance: Expected to account for 43–44% of revenue in 2025, driven by Nexa syringes, Alba cartridges, and biosimilar opportunities.
  • Strategic Investments: $100M+ allocated to high-speed syringe lines in Fishers and Latina, targeting full capacity by 2028, plus US onshoring opportunities.

Segment Performance and Guidance

The Engineering segment experienced a slowdown due to delays in order conversion, but the pipeline with clients remains healthy. The company won a significant biosimilar opportunity for GLP-1s, which will contribute to growth. Stevanato reiterated its fiscal 2025 guidance, expecting revenue in the range of $1.16 billion to $1.19 billion, adjusted EBITDA between $288.5 million and $301.8 million, and adjusted diluted EPS between $0.50 and $0.54.

Growth Drivers and Strategy

Biosimilars are expected to play a crucial role in the company's growth, with a strategy to be present in all injectable products, both originators and biosimilars. The company has a history of being involved with originators from the beginning and is now actively working with biosimilars. Stevanato's investments are focused on high-value products, which is expected to drive growth. The company's goal is to serve clients with full system solutions for high-value products.

Valuation and Outlook

With a P/E Ratio of 37.52 and an EV/EBITDA of 20.16, the market is pricing in a certain level of growth for Stevanato Group. Analysts estimate next year's revenue growth at 9.6%. The company's strong performance, healthy pipeline, and clear strategic focus position it well to drive growth and deliver lasting value for customers, employees, and shareholders. The expected growth in biologics, particularly in Nexa syringes and Alba cartridges, will likely contribute to the company's continued growth.

3. NewsRoom

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SDZNY vs. STVN: Which Stock Should Value Investors Buy Now?

Dec -03

Source: zacks.com

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Stevanato Group S.p.A. (STVN) Q3 2025 Earnings Call Transcript

Nov -07

Source: seekingalpha.com

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Stevanato Group (STVN) Q3 Earnings and Revenues Surpass Estimates

Nov -06

Source: zacks.com

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SDZNY vs. STVN: Which Stock Is the Better Value Option?

Oct -31

Source: zacks.com

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Stevanato Group S.p.A. (STVN) Presents at Bank of America Global Healthcare Conference 2025 Transcript

Sep -24

Source: seekingalpha.com

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USNA vs. STVN: Which Stock Is the Better Value Option?

Sep -15

Source: zacks.com

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Stevanato (STVN) Upgraded to Buy: Here's What You Should Know

Sep -11

Source: zacks.com

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Stevanato Group S.p.A. (STVN) Presents At Morgan Stanley 23rd Annual Global Healthcare Conference Transcript

Sep -09

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (12.69%)

6. Segments

Biopharmaceutical and Diagnostic Solutions

Expected Growth: 12.5%

Stevanato Group's Biopharmaceutical and Diagnostic Solutions segment growth is driven by increasing demand for high-quality pharmaceutical containers, rising adoption of biologics and vaccines, and growing need for diagnostic solutions. Additionally, the company's strategic investments in R&D, expansion into emerging markets, and partnerships with leading pharmaceutical companies contribute to its 12.5% growth.

Engineering

Expected Growth: 13.5%

Stevanato Group's 13.5% growth in Engineering is driven by increasing demand for high-value pharmaceutical containers and devices, expansion into emerging markets, and strategic partnerships. The company's innovative products, such as its EZ-fill vials and cartridges, are gaining traction, while its investments in digitalization and automation are improving operational efficiency.

7. Detailed Products

Pharmaceutical Glass Containers

Stevanato Group offers a wide range of pharmaceutical glass containers, including vials, cartridges, and syringes, designed for pharmaceutical and biotechnological applications.

Diagnostic Glass Tubes

Stevanato Group provides diagnostic glass tubes for blood collection, serum separation, and other laboratory applications.

Syringe Systems

Stevanato Group designs and manufactures syringe systems, including staked-needle syringes, luer-lock syringes, and other customized solutions.

Cartridge Systems

Stevanato Group offers cartridge systems for pharmaceutical and biotechnological applications, including dual-chamber cartridges and other customized solutions.

Vial Containment Solutions

Stevanato Group provides vial containment solutions, including vial adapters, vial stoppers, and other customized solutions.

Inspection and Packaging Machines

Stevanato Group designs and manufactures inspection and packaging machines for pharmaceutical and biotechnological applications.

Visual Inspection Systems

Stevanato Group offers visual inspection systems for pharmaceutical and biotechnological applications, including machine vision and artificial intelligence-based solutions.

8. Stevanato Group S.p.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Stevanato Group S.p.A. is medium due to the presence of alternative packaging solutions, but the company's focus on innovation and sustainability helps to mitigate this threat.

Bargaining Power Of Customers

The bargaining power of customers is low for Stevanato Group S.p.A. due to the company's strong relationships with its customers and its ability to provide customized solutions.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium for Stevanato Group S.p.A. due to the company's dependence on a few key suppliers, but the company's strong relationships with its suppliers help to mitigate this risk.

Threat Of New Entrants

The threat of new entrants is low for Stevanato Group S.p.A. due to the high barriers to entry in the pharmaceutical packaging industry, including the need for significant investment in research and development.

Intensity Of Rivalry

The intensity of rivalry is high for Stevanato Group S.p.A. due to the competitive nature of the pharmaceutical packaging industry, but the company's focus on innovation and sustainability helps to differentiate it from its competitors.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 25.40%
Debt Cost 3.95%
Equity Weight 74.60%
Equity Cost 7.71%
WACC 6.75%
Leverage 34.05%

11. Quality Control: Stevanato Group S.p.A. 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

Stock-Card
Stevanato

A-Score: 4.0/10

Value: 3.1

Growth: 5.6

Quality: 5.5

Yield: 0.0

Momentum: 9.0

Volatility: 1.0

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Tecan

A-Score: 3.6/10

Value: 4.4

Growth: 4.1

Quality: 5.7

Yield: 2.5

Momentum: 0.0

Volatility: 4.7

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Gerresheimer

A-Score: 3.3/10

Value: 8.8

Growth: 4.6

Quality: 4.1

Yield: 1.2

Momentum: 0.0

Volatility: 1.3

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Carl Zeiss Meditec

A-Score: 3.3/10

Value: 3.9

Growth: 5.0

Quality: 5.9

Yield: 1.9

Momentum: 1.0

Volatility: 2.3

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NovoCure

A-Score: 2.8/10

Value: 7.2

Growth: 3.0

Quality: 3.6

Yield: 0.0

Momentum: 2.5

Volatility: 0.3

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Sartorius

A-Score: 2.7/10

Value: 1.3

Growth: 5.3

Quality: 3.4

Yield: 0.0

Momentum: 3.5

Volatility: 2.7

1-Year Total Return ->

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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

22.11$

Current Price

22.11$

Potential

-0.00%

Expected Cash-Flows