UCB SA

€290.90As of Sun 8 Nov 2026, 12:00 UTC

EBR:UCBHealthcare

Country Belgium

PE (Fwd) •••

TSR 10Y CAGR 17.87%

Div yield 0.50%

ROE 20.57%

Biotechnology

Beta (5Y) 0.11

PE TTM 25.70

TSR TTM 31.32%

Mkt cap €55.46B

ROIC 15.03%

SE Grade™

Value

Quality

Moat

Consensus

Reference

€299

2.92%

(35.18%)

Buy 9|6|1|4|0

TTM

FYE 31 Dec EUR

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

8.552

Revenue€B

7.331

7.687

8.040

8.322

8.676

9.039

9.324

9.614

10.25

10.56

8.910

4.01%

4.14%

17.16

Revenue growth%

24.72

23.07

25.97

23.44

22.75

24.83

25.87

28.36

28.68

26.06

9.59

26.06

25.35

29.39

Gross margin%

21.42

23.67

24.77

25.64

27.34

27.51

25.74

27.30

28.65

26.03

21.98

27.30

25.88

7.98

Operating margin%

27.29

27.82

28.98

30.62

33.00

30.78

29.10

30.90

31.14

28.86

18.38

30.78

29.86

13.73

Net margin%

9.85

11.90

12.83

10.98

10.91

13.69

13.48

12.14

11.79

11.46

2.73

12.14

11.85

25.16

P/E ratio (avg)x

10.48

10.08

8.838

9.712

8.472

8.230

7.194

7.035

6.476

6.924

30.59

7.035

8.351

25.57

EV/EBITx

37.27

34.39

38.59

36.83

38.20

39.19

42.53

41.95

38.73

43.56

13.54

41.95

38.66

10.52

FCF yield (avg)%

15.37

13.36

11.80

9.91

7.67

7.24

5.62

3.73

5.06

6.65

5.24

5.62

7.46

2.87

FCF margin%

12.62

14.25

14.31

15.35

13.85

14.44

15.08

17.67

17.83

19.12

14.89

17.67

14.76

1.492

FCF / Net incomex

0.771

0.877

0.984

0.983

1.051

1.085

1.265

1.319

1.502

1.414

0.895

1.319

1.068

22.87

ROIC%

19.85

21.27

22.90

23.64

22.35

22.29

21.73

20.17

17.47

17.78

20.14

20.17

21.50

13.77

Return on equity%

25.07

26.57

27.68

27.88

25.88

27.36

25.27

23.52

25.28

23.89

22.96

25.27

25.58

20.15

Return on assets%

30.23

30.11

32.80

34.15

35.67

35.40

36.60

33.99

36.14

36.40

7.98

36.14

34.78

14.99

EPS€

59.52

64.02

63.46

63.97

64.07

61.28

61.68

69.03

79.80

82.27

16.43

5.13%

2.86%

—

2.48

EPS growth%

7.10

5.67

7.49

8.42

10.33

8.84

7.72

6.00

7.29

6.01

2.68

7.29

7.39

26.26

Bookvalue per sh€

60.18

60.63

66.66

67.09

72.31

75.05

79.99

89.72

87.60

92.98

19.52

5.16%

3.73%

—

51.46

FCF per share€

32.81

31.61

32.43

31.79

37.65

39.63

44.34

43.97

44.21

46.63

51.14

4.37%

4.27%

—

13.41

Dividend per sh€

13.30

12.61

13.12

14.67

16.65

16.28

17.89

19.12

21.95

21.56

21.94

5.30%

5.89%

—

4.14

Div yield (avg)%

28.57

30.94

33.65

31.42

31.47

33.43

34.96

37.12

39.61

40.40

6.03

37.12

33.54

23.06

Payout ratio%

15.57

17.29

14.93

15.27

18.16

19.65

19.92

16.92

18.86

16.79

25.48

18.86

17.11

193.4

Shares (diluted)M

289.0

313.7

356.2

351.8

341.3

379.5

410.9

462.9

536.5

565.8

190.4

10.64%

7.52%

4.69

Buyback yield%

17.19

19.55

20.75

21.61

20.60

22.93

23.17

21.54

19.66

22.31

6.35

22.31

21.14

0.177

D/E ratiox

1.693

1.696

1.784

1.680

1.809

1.847

1.941

2.143

2.071

2.296

1.494

2.071

1.828

8.111

Enterprise value€B

2.264

2.099

2.046

1.914

1.697

1.630

1.451

1.276

1.127

0.994

11.67

(10.15%)

(9.11%)

6.490

LT debt€B

4.932

4.515

4.621

4.010

3.613

3.709

3.426

3.603

3.287

3.168

4.147

(2.59%)

(5.02%)

Peers (US$62.28B)

Cap (US$)

Financière de Tubize SA

12.00B

108.6x

CSL Limited

66.46B

—

argenx SE

57.29B

32.08x

Samsung Biologics Co.…

51.68B

33.28x

Capital

TTM

10Y

Leveragex

1.886

(0.179)

(0.099)

EBIT/Intx

0.199

0.347

0.439

Own earn%

(58.25)

(190.99)

(140.19)

Sh yield%

8.84

58.66

55.38

Owners

Insiders/Inst%

11.16

39.16

Short interest%

5.96

SBC / revenue%

5.93

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

27–33

$1 testx

0.0

Incr. ROIC%

UCB SA is a biopharmaceutical company developing products for people with neurology and immunology diseases worldwide, including Cimzia and Bimzelx for psoriasis and arthritis, Vimpat, Keppra, Briviact, Nayzilam and Fintepla for epilepsy, Dravet and Lennox-Gastaut syndrome, Neupro for Parkinson's disease, Zyrtec and Xyzal for allergies, and RYSTIGGO and ZILBRYSQ for myasthenia gravis; it also performs contract manufacturing.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

€10.56B

4.14%

1.00×

Cost of revenue

€6.672B

4.32%

1.02×

Operating expenses

€1.756B

4.32%

1.02×