HBM Healthcare Investments AG

HBMN.SW

Asset Management · Financial Services

Also trades as: 0QOC.L

Price

CHF 250.00

+0.00 (+0.00%)

Market Cap

CHF 1.65B

Exchange

SIX Swiss Exchange

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 12, 2026 · filings through Jun 30, 2026

Share count falling — buybacks

−4.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 7.0M (2022) → 6.7M (2026)

HBM Healthcare Investments AG is a Swiss investment company that puts money into healthcare and biotech businesses around the world. It buys stakes in private and publicly traded companies working on drugs, medical devices, and other health-related products. Think of it like a fund that specializes entirely in the healthcare industry, giving investors a way to own a slice of many healthcare companies at once.

The company makes money when the value of its investments rises and when it sells stakes at a profit — not from selling products or charging fees to customers. It is based in Zug, Switzerland, and invests mainly in companies across the US, Europe, and Asia, with a portfolio worth roughly $1.5 billion. Its focus on a single sector gives it deep expertise, but that same concentration is also its biggest risk — a broad downturn in biotech valuations or a string of failed drug trials across its portfolio could significantly hurt returns.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+100.0% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+68.8% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$0/ year

Research and development spending

Insider Activity

21.8%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Position

Cash flow positive

$1.9B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Strong grower

HBM Healthcare Investments AG is growing revenue at 100% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

N/A

Data not available

Operating Margin

N/A

Data not available

ROCE

-0.0%

Weak — -0.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

N/A

Data not available

EPS YoY

N/A

Data not available

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

12%

Weak — only 12% of profit becomes cash

FCF Margin

17.8%

Converts sales into free cash efficiently (17.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

0.08

Conservative — low debt load (0.08)

Interest Cover

421.70x

Comfortably covers interest (421.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

2.6x

Attractive valuation — P/E 2.6

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

-13.1

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield

3.60%

Moderate income — 3.60% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

-15.8%

Dividend cut (-15.8% YoY) — warning sign

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