Stock

Medacta Group S.A.

MOVE.SW
60
Medical - Specialties · Healthcare
Also trades as: 0A05.L GBP 1.14 (+1.28%)
Price
CHF 114.20
+2.80 (+2.51%)
Market Cap
CHF 2.27B
Exchange
SIX Swiss Exchange
Winston Score
60
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Oct 10, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
19/30
Growth
Mixed
8/20
Cash Flow
Good
6/10
Stability
Exceptional
9/10
Valuation
Strong
7/10
Ownership
Good
10/15
Dividends
Weak
1/5

60 of 100 counted points = Winston Score 60.

§Winston Score History

The full picture

Medacta Group is a Swiss medical device company that makes artificial joints and surgical tools used in hospitals around the world. Its main products are replacement implants for knees, hips, shoulders, and spines — the kind surgeons use when a patient's natural joint wears out or gets damaged. Medacta also sells a surgical training system called MyKnee and MyShoulder, which uses patient scans to help surgeons plan and perform more precise operations.

The company earns money by selling its implants and related instruments directly to hospitals and surgical centers, mostly through its own sales force rather than third-party distributors. Medacta operates primarily in Europe, the United States, and Australia, with the U.S. market being a key growth target. Its main competitive edge comes from its surgeon education programs and proprietary surgical techniques, which create loyalty among doctors who train on its systems. The biggest risk is competing against much larger rivals like Zimmer Biomet and Stryker, which have far greater resources and established hospital relationships.

Growth Profile

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

Revenue Growth

+6.5% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-30.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€13M/ year

↓ Declining (-39% vs prior year)

1.9% of revenue

Below sector average (18%)

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

Insider Activity

69.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~8 months

€38M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Medacta Group S.A. has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

−0.0% over 4y

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

Diluted shares outstanding: 20.0M (2021) → 20.0M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
65.2%
Premium pricing power — 65.2% gross margin
Profit after running costs
Operating Margin
14.8%
Healthy — 14.8% operating margin
Return on the money invested
ROCE
12.6%
Good — 12.6% 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
+9.4%
Steady sales growth (+9.4% YoY)
Profit growth
EPS YoY
-18.3%
Earnings shrinking (-18.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
174%
Turns 174% of profit into real cash
Spare cash per sale
FCF Margin
-0.3%
Burning cash (-0.3%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
0.57
Conservative — low debt load (0.57)
Covers its interest
Interest Cover
15.36x
Comfortably covers interest (15.4x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
29.4x
Growth-priced — P/E 29.4

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+11.6
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (29.4 → 17.7)

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Dividends

Dividend
Dividend Yield
0.97%
Small dividend — 0.97% yield

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

Dividend record
Dividend Growth
N/A
Data not available

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