After Ottobock $DE000BCK2223 (-0,16 %) successfully went public in October 2025, we take a look at the hard facts in January 2026. Is the global market leader in human bionics a must-have for your portfolio?

🏢 Company profile & market position

Ottobock is no longer just a supplier to medical supply stores. With approx. 30 % market share in prosthetics, they are the global player. Particularly exciting: Through their network of 400 Patient Care Centers they control the entire value chain - from the high-tech knee joint right through to the patient.

📈 Key financial figures (as at Jan. 2026)

The figures show a clear direction: Profitability.

• Growth: The core business is growing at a double-digit rate (approx. 13% p.a.).
• Margin turbo: The EBITDA margin climbed from 21% to just under 26 %. Why? Focus on margin instead of sheer size.
• Cash flow: Free cash flow has improved massively in 2025 (approx. EUR 173m), paving the way for the first dividend (payout approx. 30-40%) in in the year 2026.

🌟 Opportunities: more than just demographics

• Innovation: 3D printing and AI-controlled prostheses reduce costs and increase patient satisfaction.
• Crisis management & humanitarian aid: A sad but factual growth driver is the increasing global demand in conflict areas (e.g. Ukraine). Ottobock $DE000BCK2223 (-0,16 %) not only provides humanitarian aid here, but also secures long-term market share in regions with enormous pent-up demand through its local presence and training of technicians.
• Dividend play: Starting this year, Ottobock $DE000BCK2223 (-0,16 %) will also become interesting for income investors.

⚠️ Risks: What you need to have on your radar

• Debt: Even if the IPO proceeds were used to redeem, leverage remains to be kept in mind.
• Governance: The Näder family has a firm grip on the reins - this means stability, but little say for small investors.
• Regulation: Cost pressure in healthcare systems can squeeze margins on standard products.

📊 SWOT analysis at a glance

🎯 Evaluation

The share price is currently hovering around 65.00 - 67.00 EUR (close to the IPO price). While UBS remains rather neutral, banks such as Deutsche Bank or Jefferies see price targets of up to 81.00 EUR.

My conclusion: Ottobock $DE000BCK2223 (-0,16 %) is a quality compounder. Anyone who wants to bet on medical technology with a "moat" will find a solid stock here, which is now also capable of paying dividends.

What do you think of Ottobock $DE000BCK2223 (-0,16 %)
?

Have you held them in your portfolio since the IPO or are you waiting for a significant dip below EUR 65?

Let me know your opinion in the comments! 👇💬

#Ottobock
#Aktienanalyse
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#Investieren
#GetQuin
#Dividende
#HumanBionics

$DE000BCK2223 (-0,16 %)
@EpsEra (getquin Robotic Expert)

The prosthesis manufacturer Ottobock is more optimistic about the year as a whole than before. Adjusted consolidated profit rose by 81 percent.

Thanks to strong growth in the first nine months, the world's largest prosthesis manufacturer Ottobock is more optimistic about the year as a whole than before. Sales growth in the core business is expected to be in the upper half of the forecast range of 10 to 13 percent, the company announced on Thursday in its first quarterly report since the IPO on October 9.

The return on sales (adjusted EBITDA margin) in the core business is still expected to be in the range of 25 to 26 percent.

From January to September, turnover in the core business rose by just under 14 percent to 1.16 billion euros. The operating result (adjusted EBITDA) increased by 29% to 281 million euros. Adjusted net profit rose by 81% to 119 million euros.

The medical technology company cited new products, acquisitions and efficiency improvements, among other things, as business drivers. Ottobock has previously emphasized that its business is driven more by innovations than by wars and natural disasters.

The shares of the family-owned company from Duderstadt in Lower Saxony were floated on the stock exchange at an issue price of 66 euros. Billionaire Klaus-Michael Kühne is the second largest shareholder after the founding family around Chairman of the Board of Directors Hans-Georg Näder. Last year, Ottobock generated sales of 1.43 billion euros with 9300 employees worldwide and an adjusted operating result (EBITDA) of 321 million euros.

https://www.wiwo.de/unternehmen/industrie/ottobock-boersenneuling-steigert-umsatz-und-gewinn-deutlich/100174182.html

Dear community, with my first post, I would like to introduce you to a company that most people have never had any contact with.

Ottobock is often referred to as a prosthesis manufacturer (which is also correct in a roundabout way). However, Ottobock is actually a manufacturer of prosthetic fittings.

This means that orthopaedic technology workshops buy, for example, a knee joint, prosthetic foot or adapter from Ottobock.

As these parts cost a lot to develop, the prices charged are high. These have to be paid for by the health insurance companies. This means that there is and will always be a liquid market in the domestic market.

Ottobock is the main partner of the Paralympics and is also active in developing countries.

The main customers mostly come from accidents (only in Germany approx. 60,000 new amputees per year).

Ottobock regularly sets new standards in orthopaedic technology and thus remains the market leader not only in Germany.

Ottobock has been able to greatly expand its product range in recent years through regular takeovers of smaller companies.

$DE000BCK2223 (-0,16 %)

- The IPO price was set at € 66/share, based on an offer of ~12.2 million shares.

- The proceeds amount to ~€808m, of which ~€100m will flow into the company. The remainder will go to Näder Holding.

- The free float will be around 19%, while the Näder family will largely retain control.

- Ottobock intends to use the proceeds for investments, acquisitions and growth.

- Sales and adjusted EBITDA increased significantly in the first half of 2025: sales of € 666 → 760 million, EBITDA € 132 → 175 million.

- Prior to the IPO, institutional investors secured commitments to participate (e.g. Capital Group).

- Ottobock is admitted to the Prime Standard.

- The IPO is seen as a signal that the German capital market is once again becoming more attractive for medical technology.

Opportunities and risks:

Access to capital for expansion & innovation

Signal effect for further IPOs in the medical/technology segment

- Large outflows to the holding company (not to the operating business)

- Price volatility possible in early weeks

- Outlook and implementation of investment plans must be convincing