1. Poland Stocks

  2. •

    Healthcare

  3. •

    Medical - Pharmaceuticals
Neuca S.a.

Neuca S.a.

NEU.WA
Neuca S.a.PL flagWarsaw Stock Exchange
703.00
PLN
-3.00
- -
3.17BMarket Cap
Neuca S.a.
NEU.WA
(Warsaw Stock Exchange)

Recent

price

703.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
1,387.93
1,439.86
1,275.6
1,284.19
1,455.13
1,565.34
1,605.57
1,645.4
1,714.68
1,916.22
2,138.98
2,247.44
2,576.49
2,689.43
2,824.44
3,006.38
3,035.55
Revenue per Share
8.5
11.99
14.72
18.91
20.62
22.83
25.35
20.77
21.14
27.16
32.81
34.32
31.48
33.3
34.54
34.28
38.52
Basic EPS, GAAP
0.27
33.09
28.02
6.14
44.87
40.66
39.71
26.77
31.22
46.85
55.42
56.38
58.38
65.63
14.16
120.94
96.75
Free Cash Flow per Basic Share
2
2.31
2.59
3.2
3.82
4.32
5
5.78
6.54
7.46
8.58
10.06
11.83
13.26
14.84
15.87
- -
Dividend per Share
10.57
17.1
20.02
23.04
37.29
48.22
57.3
49.51
45.83
122.43
122.69
140.3
148.44
150.66
165.18
155.29
169.64
Book Value per Share
29.42
37.83
51.56
65.65
67.45
68.95
71.81
69.2
57.64
56.54
54.11
24.68
17.25
-15.57
58.03
15.45
34.44
Tangible Book Value per Share
4
4
4
5
5
4
4
5
5
4
4
4
4
4
4
5
5
Basic Weighted Avg Shares
6,132
6,389
5,687
5,795
6,569
6,946
7,077
7,485
7,753
8,272
9,245
9,864
11,232
11,813
12,612
13,644
13,835
Sales/Revenue/Turnover
1.04
1.41
2.15
2.15
1.41
2.06
2.35
1.93
1.93
2.25
2.75
2.57
2.28
2.29
2.41
2.17
2.29
Operating Margin (%)
21
22
23
24
28
29
31
33
49
56
65
80
98
115
120
127
128
Depreciation Expense
38
53
66
85
93
101
112
94
96
117
142
151
137
146
154
156
176
Net Income, GAAP
19.15
3.42
19.64
18.36
- -
16.24
20.72
23.98
24.35
24
25.94
24.57
26.84
21.75
24.42
23.93
23.72
Effective Tax Rate (%)
0.61
0.83
1.15
1.47
1.42
1.46
1.58
1.26
1.23
1.42
1.53
1.53
1.22
1.24
1.22
1.14
1.27
Profit Margin (%)
45
-5
18
72
117
60
-4
-52
-107
-258
-126
-228
-301
-477
-204
-513
-455
Working Capital
81
104
84
71
161
116
69
139
186
133
140
133
148
151
152
153
149
LT Debt
243
286
341
408
464
527
587
627
639
644
771
883
935
1,057
1,412
1,269
1,362
Total Equity
8.82
14.52
16.59
17.84
- -
17.11
17.71
13.62
12.4
13.52
18.21
18.68
15.54
15.35
13.88
12.29
12.55
Return on Invested Capital (%)
9.67
21.31
25.41
34.4
- -
27.64
29.22
23.76
21.35
16.45
17.95
20.42
16.78
18.08
14.89
13.99
14.46
Return on Capital (%)
120.68
86.79
79.49
88.34
68.35
52.99
47.9
39.56
44.21
31.88
26.78
26.29
21.73
22.35
22.05
21.57
22.65
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
396
348
436
LT Borrowings
- -
- -
- -
LT Finance Leases
143
153
149
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
4
4
5
Market Capitalization
3,067
3,699
3,054

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
3,976
4,173
4,038
Cash, Cash Equivalents & STI
127
169
185
Accounts Receivable, Net
2,165
2,003
2,035
Inventories
1,621
1,926
1,786
Total Current Liabilities
4,475
4,686
4,493
Payables & Accruals
- -
- -
- -
ST Debt
396
348
436
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.75%
11.38%
-10.08%
Free Cash Flow
75.36%
141.88%
768.06%
Net Income, GAAP
4.99%
2.05%
0.87%
Sales/Revenue/Turnover
7.04%
8.14%
8.18%
Total Cash Common Dividend
14.19%
14.24%
8.71%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,162
3,043
3,185
3,221
12,612
2025
3,366
3,268
3,489
3,521
13,644
2026
3,557
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
12.71
6.85
9.36
- -
34.54
2025
10.66
4.36
13.26
- -
34.28
2026
14.93
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
0.22
- -
14.84
2025
- -
- -
- -
- -
15.87
2026
- -
- -
- -
- -
- -
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Business
Neuca S.A. operates as a leading pharmaceutical wholesaler and healthcare services provider in Poland. The company distributes prescription (Rx) and over-the-counter (OTC) medicines, dietary supplements, medical devices, dermocosmetics, hygiene products, personal protective equipment, diagnostic and dressing materials under brands including Świat Zdrowia, APTEO, GENOPTIM, CERA+ Solutions, and Kic Kic to pharmacies, medical professionals, and patients. Its business segments encompass wholesale distribution of pharmaceuticals; manufacture of medicines and pharmaceutical preparations; operation of a network of medical clinics; conducting clinical trials and outsourcing clinical research; telemedicine; healthcare e-commerce via platforms such as apteline.pl; and insurance activities including health insurance products and occupational medicine services. Neuca also offers marketing, advertising, IT solutions, and logistics services tailored for the pharmaceutical market. Founded in 1990 and headquartered in Toruń, Poland, Neuca serves approximately 9,000 pharmacies across the country and maintains a strong position with around 30% market share in pharmaceutical wholesale distribution. The company employs over 3,500 people across its subsidiaries. Recent strategic developments include a 2021 acquisition of a 50% stake in Global Pharma CM, a Polish manufacturer of medical devices and dietary supplements, aimed at expanding its manufacturing capabilities and R&D efforts in new product development. Neuca continuously invests in advancing medical technologies, automation of manufacturing processes, and synergistic growth within healthcare sectors. It remains committed to supporting independent pharmacies while growing its patient care network, clinical research activity, and e-health offerings. Neuca’s integrated business model combining wholesale pharmaceutical distribution with manufacturing, clinical services, telemedicine, and insurance solutions positions it uniquely in Poland’s healthcare market. The company focuses on enhancing customer satisfaction, strengthening its pharmacy partners, and expanding patient-centered services throughout the region, underpinned by steady revenue growth and operational improvements as reflected in recent financial results.