Q3-osavuosiraportti
29 päivää sitten‧37 min
0,82 EUR/osake
Viimeisin osinko
2,72 %Tuotto/v
Tarjoustasot
Nasdaq Helsinki
Määrä
Osto
94 359
Myynti
Määrä
93 842
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 669 | - | - | ||
| 161 | - | - | ||
| 1 063 | - | - | ||
| 1 695 | - | - | ||
| 601 | - | - |
Ylin
61,45VWAP
Alin
60,25VaihtoMäärä
13,6 223 117
VWAP
Ylin
61,45Alin
60,25VaihtoMäärä
13,6 223 117
Välittäjätilasto
Ostaneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Evli Bank Abp | 10 000 | 10 000 | 0 | 10 000 |
| Anonyymi | 213 117 | 213 117 | 0 | 0 |
Myyneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Evli Bank Abp | 10 000 | 10 000 | 0 | 10 000 |
| Anonyymi | 213 117 | 213 117 | 0 | 0 |
Yhtiötapahtumat
| Seuraava tapahtuma | |
|---|---|
| 2025 Q4-osavuosiraportti | 12.2.2026 |
| Menneet tapahtumat | ||
|---|---|---|
| 2025 Q3-osavuosiraportti | 28.10. | |
| 2025 Q2-osavuosiraportti | 18.7. | |
| 2025 Q1-osavuosiraportti | 23.4. | |
| 2024 Yhtiökokous | 3.4. | |
| 2024 Vuosiraportti | 11.3. |
Datan lähde: Millistream, Morningstar, Quartr
Asiakkaat katsoivat myös
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
1 päivä sitten1 päivä sittenHere is my comprehensive analysis of Orion Corporation: I. Financial Health: The "Headline" vs. "Underlying" Trap The most recent Q3 2025 reports present a classic "value trap" in reverse—the financials look worse than the business actually is. The Optical Illusion: In 2024, Orion received massive, one-off milestone payments from its partner, Bayer. These payments are virtually 100% profit. In 2025, those milestones disappeared. As a result, headline operating profit appears to have collapsed. The Mechanistic Reality: If you strip away those one-offs, the underlying business is booming. In Q3 2025 alone, the underlying operating profit grew by roughly 68%. The quality of Orion's revenue is improving. Revenue from royalties (like those from Nubeqa) has zero Cost of Goods Sold (COGS). A €100 million increase in royalties hits the bottom line much harder than a €100 million increase in generic drug sales. Cash Flow & Balance Sheet: The company maintains a "conservative Finnish" balance sheet—moderate debt and consistent positive free cash flow. They have paid a dividend for over 19 consecutive years. The current yield is hovering around 2.5% - 3.5% (depending on entry price), which is a healthy, defensive floor. II. Competitive Position: The Nubeqa Moat Orion is effectively two companies stitched together: The Cash Cow (Generics & Easyhaler): A stable, slow-growth business making generic drugs and asthma inhalers (Easyhaler). This pays the bills and the dividend. The Rocket Ship (Nubeqa): This is the investment thesis. The Mechanism of Nubeqa (Darolutamide): Orion discovered this molecule but partnered with Bayer for global commercialization. Why this matters: Bayer pays for the expensive global sales force and marketing. Orion simply collects a royalty on every sale. Growth: Nubeqa is capturing significant market share in the prostate cancer space. Sales are on a trajectory to exceed €1 billion globally (blockbuster status), meaning Orion’s royalty stream will likely continue to compound for years. The Risks (The Bear Case): Pipeline Setback: The recent failure of ODM-105 (for insomnia) was a blow. Pharma companies need a "next act" after their blockbuster peaks. Orion’s pipeline is now thinner, putting immense pressure on Nubeqa to carry the weight. Generic Erosion: Their legacy portfolio (generics) faces constant price erosion, a typical feature of the European healthcare market. They must run faster just to stay in place here. III. Macroeconomic Factors Currency Arbitrage (USD/EUR): This is a key mechanistic driver. A significant portion of Nubeqa sales are in US Dollars (via Bayer), but Orion reports in Euros. A strong USD (which we have seen recently) acts as a tailwind, inflating their royalty checks when converted back to EUR. Defensive Sector: In a high-interest-rate or recessionary environment (2025 fears), healthcare is a safe harbor. People do not stop buying cancer drugs or asthma inhalers during a downturn. This limits your downside risk compared to cyclical tech or industrial stocks. IV. Valuation: Paying for Quality P/E Ratio: Orion typically trades at a premium, often a P/E of 20x - 25x. The "Expensive" Illusion: Right now, the stock might look expensive on trailing earnings (because of the missing milestones mentioned above). However, if you project the royalty growth forward to 2026-2027, the valuation compresses rapidly. Comparison: You are paying a higher multiple than a generic manufacturer (like Teva) but a lower multiple than a pure-play biotech. You are essentially buying a royalty stream at a reasonable price, with a free generic business attached to it. Conclusion: You are buying a company where the quality of earnings is structurally improving (shifting from low-margin manufacturing to high-margin royalties). The market is currently punishing them for the optical drop in headline numbers due to the missing milestones, creating an entry window for the sophisticated investor who understands the underlying mechanism. Timeframe: This is a 3-5 year hold. You are waiting for Nubeqa royalties to fully mature and dominate the income statement.
5 t sitten5 t sittenSiisti analyysi. Selkeämpi kuin niillä, joiden perässä yritetään juosta -jotkut -joskus - jopa paniikissa
13.11.13.11.Alle 60 on halpaa, raketilla takaisin 70 hujakoille 🚀
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Uutiset ja analyysit
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Q3-osavuosiraportti
29 päivää sitten‧37 min
0,82 EUR/osake
Viimeisin osinko
2,72 %Tuotto/v
Uutiset ja analyysit
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
- 1 päivä sitten1 päivä sittenHere is my comprehensive analysis of Orion Corporation: I. Financial Health: The "Headline" vs. "Underlying" Trap The most recent Q3 2025 reports present a classic "value trap" in reverse—the financials look worse than the business actually is. The Optical Illusion: In 2024, Orion received massive, one-off milestone payments from its partner, Bayer. These payments are virtually 100% profit. In 2025, those milestones disappeared. As a result, headline operating profit appears to have collapsed. The Mechanistic Reality: If you strip away those one-offs, the underlying business is booming. In Q3 2025 alone, the underlying operating profit grew by roughly 68%. The quality of Orion's revenue is improving. Revenue from royalties (like those from Nubeqa) has zero Cost of Goods Sold (COGS). A €100 million increase in royalties hits the bottom line much harder than a €100 million increase in generic drug sales. Cash Flow & Balance Sheet: The company maintains a "conservative Finnish" balance sheet—moderate debt and consistent positive free cash flow. They have paid a dividend for over 19 consecutive years. The current yield is hovering around 2.5% - 3.5% (depending on entry price), which is a healthy, defensive floor. II. Competitive Position: The Nubeqa Moat Orion is effectively two companies stitched together: The Cash Cow (Generics & Easyhaler): A stable, slow-growth business making generic drugs and asthma inhalers (Easyhaler). This pays the bills and the dividend. The Rocket Ship (Nubeqa): This is the investment thesis. The Mechanism of Nubeqa (Darolutamide): Orion discovered this molecule but partnered with Bayer for global commercialization. Why this matters: Bayer pays for the expensive global sales force and marketing. Orion simply collects a royalty on every sale. Growth: Nubeqa is capturing significant market share in the prostate cancer space. Sales are on a trajectory to exceed €1 billion globally (blockbuster status), meaning Orion’s royalty stream will likely continue to compound for years. The Risks (The Bear Case): Pipeline Setback: The recent failure of ODM-105 (for insomnia) was a blow. Pharma companies need a "next act" after their blockbuster peaks. Orion’s pipeline is now thinner, putting immense pressure on Nubeqa to carry the weight. Generic Erosion: Their legacy portfolio (generics) faces constant price erosion, a typical feature of the European healthcare market. They must run faster just to stay in place here. III. Macroeconomic Factors Currency Arbitrage (USD/EUR): This is a key mechanistic driver. A significant portion of Nubeqa sales are in US Dollars (via Bayer), but Orion reports in Euros. A strong USD (which we have seen recently) acts as a tailwind, inflating their royalty checks when converted back to EUR. Defensive Sector: In a high-interest-rate or recessionary environment (2025 fears), healthcare is a safe harbor. People do not stop buying cancer drugs or asthma inhalers during a downturn. This limits your downside risk compared to cyclical tech or industrial stocks. IV. Valuation: Paying for Quality P/E Ratio: Orion typically trades at a premium, often a P/E of 20x - 25x. The "Expensive" Illusion: Right now, the stock might look expensive on trailing earnings (because of the missing milestones mentioned above). However, if you project the royalty growth forward to 2026-2027, the valuation compresses rapidly. Comparison: You are paying a higher multiple than a generic manufacturer (like Teva) but a lower multiple than a pure-play biotech. You are essentially buying a royalty stream at a reasonable price, with a free generic business attached to it. Conclusion: You are buying a company where the quality of earnings is structurally improving (shifting from low-margin manufacturing to high-margin royalties). The market is currently punishing them for the optical drop in headline numbers due to the missing milestones, creating an entry window for the sophisticated investor who understands the underlying mechanism. Timeframe: This is a 3-5 year hold. You are waiting for Nubeqa royalties to fully mature and dominate the income statement.5 t sitten5 t sittenSiisti analyysi. Selkeämpi kuin niillä, joiden perässä yritetään juosta -jotkut -joskus - jopa paniikissa
- 13.11.13.11.Alle 60 on halpaa, raketilla takaisin 70 hujakoille 🚀
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Nasdaq Helsinki
Määrä
Osto
94 359
Myynti
Määrä
93 842
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 669 | - | - | ||
| 161 | - | - | ||
| 1 063 | - | - | ||
| 1 695 | - | - | ||
| 601 | - | - |
Ylin
61,45VWAP
Alin
60,25VaihtoMäärä
13,6 223 117
VWAP
Ylin
61,45Alin
60,25VaihtoMäärä
13,6 223 117
Välittäjätilasto
Ostaneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Evli Bank Abp | 10 000 | 10 000 | 0 | 10 000 |
| Anonyymi | 213 117 | 213 117 | 0 | 0 |
Myyneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Evli Bank Abp | 10 000 | 10 000 | 0 | 10 000 |
| Anonyymi | 213 117 | 213 117 | 0 | 0 |
Asiakkaat katsoivat myös
Yhtiötapahtumat
| Seuraava tapahtuma | |
|---|---|
| 2025 Q4-osavuosiraportti | 12.2.2026 |
| Menneet tapahtumat | ||
|---|---|---|
| 2025 Q3-osavuosiraportti | 28.10. | |
| 2025 Q2-osavuosiraportti | 18.7. | |
| 2025 Q1-osavuosiraportti | 23.4. | |
| 2024 Yhtiökokous | 3.4. | |
| 2024 Vuosiraportti | 11.3. |
Datan lähde: Millistream, Morningstar, Quartr
Q3-osavuosiraportti
29 päivää sitten‧37 min
Uutiset ja analyysit
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
| Seuraava tapahtuma | |
|---|---|
| 2025 Q4-osavuosiraportti | 12.2.2026 |
| Menneet tapahtumat | ||
|---|---|---|
| 2025 Q3-osavuosiraportti | 28.10. | |
| 2025 Q2-osavuosiraportti | 18.7. | |
| 2025 Q1-osavuosiraportti | 23.4. | |
| 2024 Yhtiökokous | 3.4. | |
| 2024 Vuosiraportti | 11.3. |
Datan lähde: Millistream, Morningstar, Quartr
0,82 EUR/osake
Viimeisin osinko
2,72 %Tuotto/v
Shareville
Liity keskusteluun SharevillessäShareville on aktiivisten yksityissijoittajien yhteisö, jossa voit seurata muiden asiakkaiden kaupankäyntiä ja omistuksia.
Kirjaudu
- 1 päivä sitten1 päivä sittenHere is my comprehensive analysis of Orion Corporation: I. Financial Health: The "Headline" vs. "Underlying" Trap The most recent Q3 2025 reports present a classic "value trap" in reverse—the financials look worse than the business actually is. The Optical Illusion: In 2024, Orion received massive, one-off milestone payments from its partner, Bayer. These payments are virtually 100% profit. In 2025, those milestones disappeared. As a result, headline operating profit appears to have collapsed. The Mechanistic Reality: If you strip away those one-offs, the underlying business is booming. In Q3 2025 alone, the underlying operating profit grew by roughly 68%. The quality of Orion's revenue is improving. Revenue from royalties (like those from Nubeqa) has zero Cost of Goods Sold (COGS). A €100 million increase in royalties hits the bottom line much harder than a €100 million increase in generic drug sales. Cash Flow & Balance Sheet: The company maintains a "conservative Finnish" balance sheet—moderate debt and consistent positive free cash flow. They have paid a dividend for over 19 consecutive years. The current yield is hovering around 2.5% - 3.5% (depending on entry price), which is a healthy, defensive floor. II. Competitive Position: The Nubeqa Moat Orion is effectively two companies stitched together: The Cash Cow (Generics & Easyhaler): A stable, slow-growth business making generic drugs and asthma inhalers (Easyhaler). This pays the bills and the dividend. The Rocket Ship (Nubeqa): This is the investment thesis. The Mechanism of Nubeqa (Darolutamide): Orion discovered this molecule but partnered with Bayer for global commercialization. Why this matters: Bayer pays for the expensive global sales force and marketing. Orion simply collects a royalty on every sale. Growth: Nubeqa is capturing significant market share in the prostate cancer space. Sales are on a trajectory to exceed €1 billion globally (blockbuster status), meaning Orion’s royalty stream will likely continue to compound for years. The Risks (The Bear Case): Pipeline Setback: The recent failure of ODM-105 (for insomnia) was a blow. Pharma companies need a "next act" after their blockbuster peaks. Orion’s pipeline is now thinner, putting immense pressure on Nubeqa to carry the weight. Generic Erosion: Their legacy portfolio (generics) faces constant price erosion, a typical feature of the European healthcare market. They must run faster just to stay in place here. III. Macroeconomic Factors Currency Arbitrage (USD/EUR): This is a key mechanistic driver. A significant portion of Nubeqa sales are in US Dollars (via Bayer), but Orion reports in Euros. A strong USD (which we have seen recently) acts as a tailwind, inflating their royalty checks when converted back to EUR. Defensive Sector: In a high-interest-rate or recessionary environment (2025 fears), healthcare is a safe harbor. People do not stop buying cancer drugs or asthma inhalers during a downturn. This limits your downside risk compared to cyclical tech or industrial stocks. IV. Valuation: Paying for Quality P/E Ratio: Orion typically trades at a premium, often a P/E of 20x - 25x. The "Expensive" Illusion: Right now, the stock might look expensive on trailing earnings (because of the missing milestones mentioned above). However, if you project the royalty growth forward to 2026-2027, the valuation compresses rapidly. Comparison: You are paying a higher multiple than a generic manufacturer (like Teva) but a lower multiple than a pure-play biotech. You are essentially buying a royalty stream at a reasonable price, with a free generic business attached to it. Conclusion: You are buying a company where the quality of earnings is structurally improving (shifting from low-margin manufacturing to high-margin royalties). The market is currently punishing them for the optical drop in headline numbers due to the missing milestones, creating an entry window for the sophisticated investor who understands the underlying mechanism. Timeframe: This is a 3-5 year hold. You are waiting for Nubeqa royalties to fully mature and dominate the income statement.5 t sitten5 t sittenSiisti analyysi. Selkeämpi kuin niillä, joiden perässä yritetään juosta -jotkut -joskus - jopa paniikissa
- 13.11.13.11.Alle 60 on halpaa, raketilla takaisin 70 hujakoille 🚀
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Sharevillen käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Nasdaq Helsinki
Määrä
Osto
94 359
Myynti
Määrä
93 842
Viimeisimmät kaupat
| Aika | Hinta | Määrä | Ostaja | Myyjä |
|---|---|---|---|---|
| 669 | - | - | ||
| 161 | - | - | ||
| 1 063 | - | - | ||
| 1 695 | - | - | ||
| 601 | - | - |
Ylin
61,45VWAP
Alin
60,25VaihtoMäärä
13,6 223 117
VWAP
Ylin
61,45Alin
60,25VaihtoMäärä
13,6 223 117
Välittäjätilasto
Ostaneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Evli Bank Abp | 10 000 | 10 000 | 0 | 10 000 |
| Anonyymi | 213 117 | 213 117 | 0 | 0 |
Myyneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Evli Bank Abp | 10 000 | 10 000 | 0 | 10 000 |
| Anonyymi | 213 117 | 213 117 | 0 | 0 |