Straumann Holding AG

STMN.SW

Medical - Instruments & Supplies · Healthcare

Also trades as: 0QMV.L

Price

CHF 103.45

+0.70 (+0.68%)

Market Cap

CHF 16.50B

Exchange

SIX Swiss Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 13, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Exceptional

Stability

Strong

Valuation

Good

Dividends

Weak

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Winston Score History

The full picture

Straumann is a Swiss company that makes dental implants, clear aligners, and other tools dentists use to replace missing teeth or straighten smiles. Its customers are dentists, oral surgeons, and dental clinics around the world. Straumann is one of the largest dental implant companies globally and also owns the ClearCorrect aligner brand, competing directly with Invisalign.

The company earns money by selling its implants, instruments, and aligner products directly to dental professionals, with some recurring revenue from consumables and digital dentistry software. Straumann operates across Europe, North America, Asia-Pacific, and emerging markets, generating roughly CHF 2.3 billion in annual revenue. Its strong brand reputation, clinical research history, and relationships with dental schools give it a durable competitive position. The key growth driver is expanding into faster-growing markets like China and Brazil, while the main risk is pricing pressure from lower-cost implant competitors eating into its premium market share.

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

+2.1% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-22.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

32.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$870M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

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

Growth context

Straumann Holding AG is growing revenue at 2% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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.

Share count broadly stable

+0.1% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 159.6M (2021) → 159.8M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

65.1%

Premium pricing power — 65.1% gross margin

Operating Margin

16.6%

Healthy — 16.6% operating margin

ROCE

7.8%

Weak — 7.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+4.0%

Slow sales growth (+4.0% YoY)

EPS YoY

-7.4%

Earnings shrinking (-7.4% YoY)

Slight earnings drop. Typical near a cyclical low.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

142%

Turns 142% of profit into real cash

FCF Margin

12.6%

Converts sales into free cash efficiently (12.6%)

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

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Stability

Debt / Equity

0.23

Conservative — low debt load (0.23)

Interest Cover

2.85x

Tight — interest eats into profit (2.8x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

46.0x

Expensive — P/E 46.0

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+22.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (46.0 → 23.9)

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Dividends

Dividend Yield

0.97%

Small dividend — 0.97% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

-84.7%

Dividend cut (-84.7% YoY) — warning sign

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