Only one of our models could value this stock with confidence, so use it as a guide.
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Valued as a mature, profitable company: Discounted cash flow, P/E comparison, EV/EBITDA comparison, and Graham number.
ACCE opinionGalderma Group AG (GALD.SW)
Fair value
Not available
ACCE price target
CHF 180
Rating
Not rated
Horizon
12 months
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: CHF 191 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow, EV/EBITDA comparison, Graham number, and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
70
out of 100
P/E
65.9x
forward 34.6x
1-year return
+36.8%
Dividend yield
0.19%
Galderma Group AG in four questions
Plain answers, details below
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Overview
ACCE thesis
Galderma sells dermatology products, including aesthetic injectables such as Restylane and Sculptra fillers, Dysport and Relfydess neurotoxins, and prescription skincare under the Cetaphil and Differin brands. Its edge is an installed base of physician relationships and a brand footprint in aesthetics that is hard for smaller rivals to replicate, which shows up in a 69.4% gross margin and a 20.2% operating margin. Revenue growth of 27.7% is the near-term driver, and the forward P/E of 33.9 against a trailing 64.4 says the market expects earnings to catch up fast. The stock is worth a closer look on the earnings trajectory, but the valuation leaves little room for a slowdown in aesthetics demand or a miss on margin expansion, and ROE of 10.8% suggests the returns on capital are not yet where the growth story would imply.