1. Poland Stocks

  2. •

    Health services

  3. •

    Hospital/Nursing management
Voxel S.A.

Voxel S.A.

33.15
EUR
+0.15
(+0.45%)
2.64EPS
9.96P/E
270.97MMarket Cap
Nov 26Next Earn
Voxel S.A.
DUS:0NX
(Dusseldorf Stock Exchange)

Recent

price

33.15

P/E

ratio

9.96

div

yld

3.19%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
PLN
6.98
5.54
10.95
10.05
9.8
12.57
11.49
14.49
16.23
20.15
31.2
42.15
34.34
40.39
48.35
55.59
61.04
Revenue per Share
0.29
-0.4
0.62
0.29
-0.43
1.36
1.05
1.89
2.23
2.19
3.23
6.72
4.23
7.07
9.18
9.38
11.13
Basic EPS, GAAP
0.66
-6.42
-1.2
-1.23
0.35
2.59
1.25
2.81
1.9
2.16
2.81
7.11
6.21
8.07
4.92
3.89
11.25
Free Cash Flow per Basic Share
0.2
- -
- -
- -
- -
- -
0.55
0.55
1
0.99
0.91
2.06
3.07
1.44
3.29
4.54
4.55
Dividend per Share
7.4
8.12
9.25
9.86
9.29
10.57
11.07
12.41
13.63
14.83
17.12
21.8
23.03
27.93
34.33
38.93
41.9
Book Value per Share
3.34
7.91
5.25
5.59
4.72
6.13
6.53
7.85
7.23
8.2
9.72
14.57
15.72
20.53
24.36
26.44
29.39
Tangible Book Value per Share
9
9
10
10
11
11
11
11
11
11
11
11
11
11
11
11
10
Basic Weighted Avg Shares
61
48
107
103
103
132
121
152
170
212
328
443
361
424
508
584
641
Sales/Revenue/Turnover
7.12
3.66
6.43
6.57
1.55
15.72
14.07
17.21
18.49
16.32
12.85
23.76
24.01
27.7
25.52
23.03
24.66
Operating Margin (%)
6
6
9
10
13
13
13
13
14
23
34
36
38
39
48
55
50
Depreciation Expense
3
-3
6
3
-5
14
11
20
23
23
34
71
44
74
96
99
117
Net Income, GAAP
20.19
- -
2.81
- -
- -
19.28
25.6
15.17
19.72
19.42
23.63
19.88
19.74
19.58
18.27
19.29
19.46
Effective Tax Rate (%)
4.19
-7.21
5.64
2.92
-4.4
10.86
9.12
13.01
13.72
10.85
10.37
15.94
12.32
17.49
19
16.88
18.24
Profit Margin (%)
-37
-23
-8
-6
-9
-18
-17
9
22
12
-38
60
41
70
37
57
81
Working Capital
19
32
35
37
35
7
14
23
56
89
74
133
104
93
72
115
126
LT Debt
72
79
91
104
98
111
116
130
143
156
181
231
244
295
367
416
447
Total Equity
- -
- -
8.77
- -
- -
10.74
8.18
13.32
12.91
11.55
12.74
21.24
16.24
22.26
20.75
19.34
22.77
Return on Invested Capital (%)
- -
- -
8.66
- -
- -
11.07
8.55
13.42
13.42
11.31
12.74
20.4
13.24
20.22
22.41
19.12
22.01
Return on Capital (%)
- -
-4.62
7.11
3.12
-4.51
13.74
9.68
16.06
17.1
15.37
20.24
34.51
18.87
27.73
29.5
25.61
29.33
Return on Common Equity (%)

Capital Structure

PLN

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
71
70
33
LT Borrowings
15
31
32
LT Finance Leases
99
95
94
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
11
11
11
Market Capitalization
1,232
1,062
1,164

Working Capital

PLN

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
202
232
236
Cash, Cash Equivalents & STI
13
17
35
Accounts Receivable, Net
126
142
140
Inventories
23
25
26
Total Current Liabilities
145
140
155
Payables & Accruals
- -
- -
- -
ST Debt
71
70
33
Deferred Revenue
- -
- -
- -

Growth Rates

PLN

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.33%
18.33%
13.36%
Free Cash Flow
19.53%
22.15%
-20.98%
Net Income, GAAP
29.08%
33.97%
2.16%
Sales/Revenue/Turnover
17.74%
13.78%
14.97%
Total Cash Common Dividend
- -
57.74%
38.02%

Quarterly Revenue

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
109
124
135
141
508
2025
158
127
143
156
584
2026
157
185
- -
- -
- -

Quarterly Earnings Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.83
2.15
2.42
2.79
9.18
2025
2.31
2.08
2.63
2.36
9.38
2026
3.04
3.1
- -
- -
- -

Quarterly Dividends Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.05
3.24
3.29
2025
- -
- -
0.07
4.47
4.54
2026
- -
- -
- -
- -
- -
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Business
Voxel S.A. Voxel S.A. operates as a leading provider of diagnostic imaging and medical services in Poland. The company offers core services including magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), single-photon emission computed tomography (SPECT), ultrasound, X-ray, and mammography examinations across reimbursed, commercial, and private patient segments; teleradiology services; clinical and pharmaceutical trials; nuclear medicine research; neuroradiosurgery via Gamma Knife; production and sale of radiopharmaceuticals such as FDG, Fluorocholine (FCH), and 11C-choline; medical IT systems including RIS, PACS, and hospital information systems; turn-key projects for diagnostic facility design, construction, and medical equipment supply; modular solutions; ICT infrastructure like Faraday cages; service and maintenance; and hospital care through subsidiaries focused on cerebral stroke treatment, long-term elderly care, and COVID-19 labs. Voxel S.A. maintains a network of approximately 39 diagnostic imaging centers equipped with 69 state-of-the-art scanners (including 27 MRIs and 19 CTs), 9 nuclear medicine centers with 8 PETs and 4 SPECTs, and 2 cyclotrons in Kraków and Warsaw; it serves patients, healthcare providers, and pharmaceutical entities primarily in Poland with synergetic, non-cyclical business segments spanning medical services, radiopharmaceutical manufacturing, IT products, equipment, and modern hospital facilities. Founded in 2005 by Jacek Liszka and Darius Pietras and headquartered in Kraków, Poland, the company listed on the Warsaw Stock Exchange in 2012. Recent developments include sustained revenue growth to 560.38 million PLN (ttm) and net income of 100.81 million PLN as of 2025, alongside a dividend payout with ex-date September 24, 2025, reflecting strong operational performance in diagnostics and research sectors.