Devyser Diagnostics AB (publ)

DVYSR.ST

Medical - Diagnostics & Research · Healthcare

Market Cap

kr 995.9M

Exchange

Stockholm Stock Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Strong

Stability

Strong

Valuation

Weak

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Winston Score History

The full picture

Devyser Diagnostics is a Swedish medical company that makes test kits used by hospital laboratories to analyze DNA. Its main products help doctors check whether organ transplants are working, detect genetic diseases, and monitor certain cancers. The company sells primarily to hospital labs and clinical testing centers across Europe and beyond.

Devyser earns money by selling its diagnostic test kits and related reagents, which labs buy repeatedly as consumables — meaning customers reorder regularly rather than making one-time purchases. The company is headquartered in Stockholm, Sweden, and generates most of its revenue in Europe, though it is expanding into other regions. Its high gross margin of around 80% reflects the value of its specialized, proprietary test designs, which are not easy for competitors to copy quickly. The key growth driver is continued adoption of its transplant and oncology testing products in new markets, while the main risk is competition from larger diagnostics companies with greater resources and broader distribution networks.

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

-10.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+27.4% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

58.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~10 years

kr 81M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

kr 81M cash & investments at current burn rate

Revenue declining

Devyser Diagnostics AB (publ)'s revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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.

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Quality

Profit per sale

Gross Margin

76.1%

Premium pricing power — 76.1% gross margin

Profit after running costs

Operating Margin

0.7%

Thin — 0.7% operating margin

Return on the money invested

ROCE

6.0%

Weak — 6.0% 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 growth

Sales YoY

+6.5%

Slow sales growth (+6.5% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

235%

Turns 235% of profit into real cash

Spare cash per sale

FCF Margin

2.0%

Thin free cash flow (2.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.00

Conservative — low debt load (0.00)

Covers its interest

Interest Cover

4.85x

Adequate interest coverage (4.9x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

65.0x

Expensive — P/E 65.0

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

Cheaper or dearer next year

P/E vs Forward

-34.5

SLOWING

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

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Dividends

Not applicable for this business.

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