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1. Company Snapshot

1.a. Company Description

QIAGEN N.V. offers sample to insight solutions that transform biological materials into molecular insights worldwide.The company provides primary sample technology consumables, such as nucleic stabilization and purification kits for primary sample materials, manual and automated processing for genotyping, gene expression, and viral and bacterial analysis, as well as silica membranes and magnetic bead technologies; secondary sample technology consumables, including kits and components for purification of nucleic acids from secondary sample materials; and instruments for nucleic acid purification and accessories.It also provides interferon-gamma release assay for TB testing, and assays for post-transplant testing and viral load monitoring; assays for prenatal testing and detection of sexually transmitted diseases and HPV, as well as assays for analysis of genomic variants, such as mutations, insertions, deletions, and fusions; and sample to insight instruments, including one-step molecular analysis of hard-to-diagnose syndromes, and integrated PCR testing.


In addition, it offers PCR consumables, such as quantitative PCR, reverse transcription, and combinations kits for analysis of gene expression, genotyping, and gene regulation instruments and technologies; human ID and forensics assay consumables, including STR assays for human ID, and assays for food contamination; PCR instruments consist of digital PCR solutions; and developed and configured OEM consumables.Further, the company provides predefined and custom NGS gene panels, library prep kits and components, and whole genome amplification; QIAGEN consumables and instruments, as well as bioinformatics solutions; and custom laboratory and genomic services.It serves molecular diagnostics, academia, pharmaceutical, and applied testing customers.


It has a strategic alliance agreement with Sysmex Corporation and OncXerna Therapeutics, as well as an agreement with Mirati.The company was founded in 1986 and is headquartered in Venlo, the Netherlands.

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1.b. Last Insights on QIA

Qiagen N.V.'s recent performance was driven by solid Q2 2025 results, exceeding outlook with growth and improved profitability. The company's strong solvency, test menu growth, and strategic partnerships, including alliances in oncology, have contributed positively. Additionally, Qiagen's partnership with Incyte to develop NGS-based companion diagnostics and its pact with GENCURIX to expand digital PCR IVD offerings have bolstered its precision diagnostics arm. The company's high institutional ownership also speaks to its prospects.

1.c. Company Highlights

2. QIAGEN's Strong Q3 2025 Earnings: Growth Pillars Drive Performance

QIAGEN reported a robust third quarter 2025, with net sales rising 6% to $533 million, and adjusted diluted EPS of $0.61, exceeding the company's outlook for at least $0.58. The growth was driven by the company's pillars of growth, including QIAstat diagnostics, which grew 11%, QuantiFERON, which also grew 11% at constant exchange rates, and QIAGEN Digital Insight, which delivered solid double-digit growth. The company's adjusted operating income margin remained strong at 29.6% of sales, demonstrating its ability to maintain profitability. The actual EPS came out at $0.52, slightly higher than estimates of $0.504.

Publication Date: Nov -14

📋 Highlights
  • 24th Consecutive Quarter of Target Achievement:: QIAGEN met/exceeded guidance for 24th quarter, showcasing consistent execution despite macroeconomic challenges.
  • Strong Financial Performance:: Q3 net sales rose 6% to $533M; adjusted EPS of $0.61 exceeded $0.58 outlook, with full-year adjusted EPS guidance raised to $2.38 (+$0.10 from prior).
  • Growth Pillars Outperform:: QIAstat diagnostics (11% growth), QuantiFERON (11% CER), and QIAGEN Digital Insight (double-digit growth) drove portfolio momentum.
  • Strategic Acquisitions & Innovation:: Parse acquisition expands into AI-driven single-cell market ($0.02 EPS dilution in 2026, accretive by 2028), while new instruments like QIAmini and QIAsprint Connect boost sample tech growth.
  • Profitability & Resilience:: Adjusted operating margin reached 29.6%, with EBIT margin forecasted to hit 30% in 2025 (up from 26.9% in 2023), despite 90bps headwind from U.S. tariffs.

Financial Highlights

The company's financial performance was characterized by strong cash generation, with underlying operating cash flow of $466 million for the 9 months of '25. The balance sheet remains strong, providing flexibility to invest in innovation, pursue targeted bolt-on acquisitions, and increase returns to shareholders. QIAGEN's valuation metrics indicate a P/E Ratio of 23.89, a P/B Ratio of 2.65, and an EV/EBITDA of 13.03, suggesting a relatively stable valuation.

Growth Drivers

QIAGEN's growth pillars continue to drive performance, with Sample technologies advancing through the acquisition of Parse, which expands QIAGEN's Sample technologies portfolio into the fast-growing AI-driven single-cell market. QIAstat diagnostics continues to expand its syndromic testing portfolio, with the launch of a new instrument version in the U.S. and preparations for more panel submissions in 2025. As Thierry Bernard stated, "Parse offers an instrument-free kit, allowing any lab to use it without costly hardware, and can process millions to billions of cells more than any other system."

Outlook and Guidance

QIAGEN raised its earnings target while confirming its sales outlook, expecting adjusted EPS of about $2.38 CER, an increase of $0.10 from its initial guidance for 2025. The company expects net sales growth to be about 4% to 5% at constant exchange rates, with 5% to 6% CER growth for the core portfolio. For 2026, QIAGEN has a commitment to deliver 7% sales growth CAGR, 31% EBIT margin, and $2 billion of revenues from growth pillars.

Valuation and Estimates

Analysts estimate next year's revenue growth at 6.0%. Given QIAGEN's current valuation metrics, it appears that the market has priced in a relatively stable growth trajectory. The company's ROE of 11.48% and ROIC of 6.39% indicate a strong ability to generate returns on equity and invested capital.

3. NewsRoom

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New Clinical Evidence Bolsters Hologic's Breast Cancer Technologies

Nov -26

Source: zacks.com

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Does QIAsymphony Connect Launch Signal a Digital Diagnostics Shift for Qiagen (QGEN)?

Nov -21

Source:

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Oracle Names Stephen Rusckowski to the Board of Directors

Nov -21

Source:

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Should You Continue to Hold Hologic Stock Post Q4 Earnings?

Nov -18

Source:

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Hologic Expands European Reach of Genius Digital Diagnostics System

Nov -13

Source:

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We Think Qiagen's (NYSE:QGEN) Profit Is Only A Baseline For What They Can Achieve

Nov -13

Source:

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Qiagen N.V. Just Beat EPS By 30%: Here's What Analysts Think Will Happen Next

Nov -10

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QIAGEN Unveils QIAsymphony Connect and Showcases New Precision Oncology Innovations at AMP 2025

Nov -10

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.24%)

6. Segments

Consumables and Related

Expected Growth: 5%

Qiagen's Consumables and Related segment growth is driven by increasing demand for molecular diagnostics, particularly in infectious disease testing and companion diagnostics. Additionally, the company's expanding portfolio of assays and instruments, such as the QIAstat-Dx and NeuMoDx systems, is contributing to growth. Furthermore, Qiagen's strategic partnerships and acquisitions are enhancing its market presence and driving revenue growth.

Instrumentation

Expected Growth: 7%

Qiagen N.V.'s 7% growth driven by increasing demand for molecular diagnostics, particularly in infectious disease testing and personalized healthcare. Expanding presence in emerging markets, strategic partnerships, and innovative product launches also contribute to growth. Additionally, the company's focus on digitalization and automation of laboratory workflows enhances operational efficiency and drives revenue.

7. Detailed Products

QIAprep&

A series of automated nucleic acid purification systems for high-throughput laboratories

QIAGEN PCR Systems

A range of thermal cyclers and real-time PCR systems for amplification and detection of nucleic acids

GeneReader NGS System

A next-generation sequencing (NGS) system for targeted gene panels and whole-exome sequencing

QIAseq Targeted DNA Panels

Pre-designed and custom panels for targeted DNA sequencing

QuantiFERON-TB Gold

A diagnostic test for latent tuberculosis infection

artus molecular diagnostics

A range of CE-IVD marked PCR assays for infectious disease detection

QIAGEN Bioinformatics

A suite of bioinformatics tools and software for NGS data analysis

CLC Genomics Workbench

A bioinformatics platform for NGS data analysis and interpretation

8. Qiagen N.V.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Qiagen N.V. operates in the life sciences industry, which is characterized by a moderate threat of substitutes. While there are alternative products and services available, Qiagen's proprietary technologies and strong brand recognition help to mitigate this threat.

Bargaining Power Of Customers

Qiagen N.V. has a diverse customer base, including academic and government institutions, pharmaceutical and biotechnology companies, and clinical laboratories. While customers have some bargaining power, Qiagen's strong brand and product offerings help to maintain a balance of power.

Bargaining Power Of Suppliers

Qiagen N.V. has a diverse supplier base, and the company is not heavily dependent on any single supplier. This reduces the bargaining power of suppliers, giving Qiagen more control over its supply chain.

Threat Of New Entrants

The life sciences industry has high barriers to entry, including significant capital requirements, complex regulatory requirements, and the need for specialized expertise. These barriers make it difficult for new entrants to challenge Qiagen's market position.

Intensity Of Rivalry

The life sciences industry is highly competitive, with several established players competing for market share. Qiagen N.V. faces intense competition from companies such as Thermo Fisher Scientific, Illumina, and Agilent Technologies, which can lead to pricing pressure and increased marketing expenses.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 28.69%
Debt Cost 4.39%
Equity Weight 71.31%
Equity Cost 6.03%
WACC 5.56%
Leverage 40.24%

11. Quality Control: Qiagen N.V. passed 5 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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Clínica Baviera

A-Score: 6.9/10

Value: 4.1

Growth: 8.2

Quality: 8.4

Yield: 7.5

Momentum: 7.0

Volatility: 6.3

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Qiagen

A-Score: 5.1/10

Value: 2.5

Growth: 4.4

Quality: 7.2

Yield: 3.8

Momentum: 3.5

Volatility: 9.3

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bioMérieux

A-Score: 5.1/10

Value: 2.0

Growth: 5.3

Quality: 6.6

Yield: 1.2

Momentum: 6.5

Volatility: 9.0

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Eurofins Scientific

A-Score: 4.6/10

Value: 3.1

Growth: 6.0

Quality: 3.9

Yield: 1.9

Momentum: 7.0

Volatility: 6.0

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DiaSorin

A-Score: 4.3/10

Value: 3.4

Growth: 5.0

Quality: 7.3

Yield: 1.9

Momentum: 0.5

Volatility: 8.0

1-Year Total Return ->

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Synlab

A-Score: 4.1/10

Value: 5.7

Growth: 8.0

Quality: 3.7

Yield: 1.9

Momentum: 4.0

Volatility: 1.7

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

40.4$

Current Price

40.41$

Potential

-0.00%

Expected Cash-Flows