GRFS on Nasdaq

Grifols

Logo: Grifols, Public domain, via Wikimedia Commons⁴

Spanish pharmaceutical and chemical manufacturer

Grifols, S.A. (Catalan: [ˈɡɾifuls]) is a global healthcare company and leading producer of plasma-derived medicines founded in Barcelona, Catalonia, Spain, in 1909. With a workforce of over 23,800 employees, Grifols serves more than 110 countries and regions and maintains a direct presence in over 30.³ From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

7.2BRevenue, fiscal 2024⁵

212.8MNet income, fiscal 2024⁵

1909Founded¹

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TickerGRFS on Nasdaq¹
Industrypharmaceutical industry¹
HeadquartersSant Cugat del Vallès¹
Websitewww.grifols.com/en/home
Legal formjoint-stock company¹
Listed onMadrid Stock Exchange (GRF), Nasdaq (GRFS)¹
Business address1585 Broadway, Suite 2376, New York, Ny 10036⁶
Filer categoryLarge accelerated filer⁶

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in EUR, the currency the company reports in.

Key numbers, fiscal 2024

38.7%Gross margin⁵

16.5%Operating margin⁵

3.0%Net margin⁵

9.4%Revenue growth, 2024⁵

2.5%Return on equity⁵

669.6M EURFree cash flow⁵

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Haemoderivatives brought in 86% of the revenue Grifols broke down this way in fiscal 2025.

Haemoderivatives6.5B EUR⁸86%up 6% from 2024
Transfusional medicine623.0M EUR⁸8%down 0% from 2024
Other Product243.0M EUR⁸3%up 17% from 2024
Bio supplies154.0M EUR⁸2%down 29% from 2024
Other diagnostic17.0M EUR⁸0%down 15% from 2024

Products and services by year

Products and services	2023	2024	2025
Haemoderivatives	5.6B EUR	6.1B EUR	6.5B EUR
Transfusional medicine	648.0M EUR	625.0M EUR	623.0M EUR
Other Product	204.0M EUR	208.0M EUR	243.0M EUR
Bio supplies	160.0M EUR	216.0M EUR	154.0M EUR
Other diagnostic	22.0M EUR	20.0M EUR	17.0M EUR

Business segments

Biopharma brought in 86% of the revenue Grifols broke down this way in fiscal 2025.

Biopharma6.5B EUR⁸86%up 6% from 2024
Diagnostic640.0M EUR⁸9%down 1% from 2024
All other segments [member]243.0M EUR⁸3%up 17% from 2024
Bio Supplies154.0M EUR⁸2%down 29% from 2024

Business segments by year

Business segments	2023	2024	2025
Biopharma	5.6B EUR	6.1B EUR	6.5B EUR
Diagnostic	670.0M EUR	645.0M EUR	640.0M EUR
All other segments [member]	204.0M EUR	208.0M EUR	243.0M EUR
Bio Supplies	160.0M EUR	216.0M EUR	154.0M EUR

Regions

United States And Canada brought in 57% of the revenue Grifols broke down this way in fiscal 2025.

United States And Canada4.3B EUR⁸57%up 4% from 2024
Rest Of World1.7B EUR⁸22%up 2% from 2024
European Union Excluding Spain1.2B EUR⁸16%up 11% from 2024
Country of domicile [member]418.0M EUR⁸6%down 1% from 2024

Regions by year

Regions	2023	2024	2025
United States And Canada	3.9B EUR	4.1B EUR	4.3B EUR
Rest Of World	1.4B EUR	1.6B EUR	1.7B EUR
European Union Excluding Spain	893.0M EUR	1.1B EUR	1.2B EUR
Country of domicile [member]	363.0M EUR	423.0M EUR	418.0M EUR

Where the money goes

Where each dollar of revenue went, fiscal 2024

Other costs

Other costs97¢7.0B EUR
Profit3¢212.8M EUR

Out of 7.2B EUR in revenue.⁵

Where each dollar of operating cash went, fiscal 2024

Capital spendingKept or used elsewhere

Capital spending26¢232.5M EUR
Kept or used elsewhere74¢669.6M EUR

Out of 902.2M EUR of cash from operations.⁵

Financial statements

Revenue⁹¹⁰¹¹¹²¹³⁵7.2B EUR in 2024+67% since 2017

Gross profit⁹¹⁰¹¹¹²¹³⁵2.8B EUR in 2024+30% since 2017

Operating income⁹¹⁰¹¹¹²¹³⁵1.2B EUR in 2024+19% since 2017

Net income⁹¹⁰¹¹¹²¹³⁵212.8M EUR in 2024−68% since 2017

Every line of the income statement in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Net revenue	7.5B EUR	7.2B EUR	6.6B EUR
Cost of sales	-4.7B EUR	-4.4B EUR	-4.1B EUR
Gross Margin	2.9B EUR	2.8B EUR	2.5B EUR
Research and development	-426.0M EUR	-384.0M EUR	-395.0M EUR
Selling, general and administration expenses	-1.2B EUR	-1.3B EUR	-1.4B EUR
Operating Expenses	-1.6B EUR	-1.6B EUR	-1.8B EUR
Other income	1.0M EUR		3.0M EUR
Profit of equity accounted investees with similar activity to that of the Group	-8.0M EUR	37.0M EUR	64.0M EUR
Operating Result	1.2B EUR	1.2B EUR	782.0M EUR
Finance income	34.0M EUR	44.0M EUR	62.0M EUR
Finance costs	-625.0M EUR	-714.0M EUR	-597.0M EUR
Dividends	2.0M EUR	2.0M EUR
Financial cost of sale of trade receivables	-14.0M EUR	-31.0M EUR	-25.0M EUR
Change in fair value of financial instruments	33.0M EUR	20.0M EUR	1.0M EUR
Impairment of financial assets	-3.0M EUR	-9.0M EUR
Exchange differences	-55.0M EUR	-60.0M EUR	-16.0M EUR
Finance result	-628.0M EUR	-748.0M EUR	-575.0M EUR
Profit/(loss) of other equity accounted investees			-1.0M EUR
Profit before income tax	615.0M EUR	444.0M EUR	206.0M EUR
Income tax expense	-115.0M EUR	-231.0M EUR	-43.0M EUR
Consolidated net profit	500.0M EUR	213.0M EUR	163.0M EUR
Profit attributable to the Parent	402.0M EUR	157.0M EUR	42.0M EUR
Profit attributable to non-controlling interest	98.0M EUR	56.0M EUR	121.0M EUR
Basic earnings per share (Euros)	0.59 EUR	0.23 EUR	0.06 EUR
Diluted earnings per share (Euros)	0.59 EUR	0.23 EUR	0.06 EUR

Total assets⁹¹⁰¹¹¹²¹³⁵21.4B EUR in 2024+96% since 2017

Total liabilities⁹¹⁰¹¹¹²¹³⁵12.8B EUR in 2024+76% since 2017

Shareholders’ equity¹⁰¹¹¹²¹³⁵8.6B EUR in 2024+137% since 2017

Cash¹⁰¹¹⁵979.8M EUR in 2024+11% since 2017

Every line of the balance sheet in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Goodwill	6.8B EUR	7.4B EUR	6.8B EUR
Other intangible assets	2.7B EUR	2.9B EUR
Rights of use	932.0M EUR	968.0M EUR
Property, plant and equipment	3.1B EUR	3.3B EUR
Investment in equity-accounted investees	97.0M EUR	69.0M EUR	421.0M EUR
Non-current financial assets measured at fair value	339.0M EUR	423.0M EUR
Non-current financial assets at amortized cost	173.0M EUR	67.0M EUR
Total non-current financial assets	512.0M EUR	490.0M EUR
Other non-current assets		137.0M EUR
Deferred tax assets	416.0M EUR	342.0M EUR
Total non-current assets	14.6B EUR	15.7B EUR
Inventories	3.3B EUR	3.6B EUR
Current contract assets	83.0M EUR	36.0M EUR
Trade receivables	651.0M EUR	705.0M EUR
Other receivables	101.0M EUR	78.0M EUR
Current income tax assets	17.0M EUR	53.0M EUR
Trade and other receivables	769.0M EUR	836.0M EUR
Current financial assets measured at fair value		6.0M EUR
Current financial assets at amortized cost	36.0M EUR	238.0M EUR
Total current financial assets	36.0M EUR	244.0M EUR
Other current assets	65.0M EUR	72.0M EUR
Cash and cash equivalents	825.0M EUR	980.0M EUR	529.0M EUR
Total current assets	5.1B EUR	5.7B EUR
Total assets	19.7B EUR	21.4B EUR	21.0B EUR
Share capital	119.6M EUR	119.6M EUR
Share premium	911.0M EUR	911.0M EUR
Reserves	4.2B EUR	4.1B EUR
Interim dividend	-102.0M EUR
Treasury stock	-131.0M EUR	-135.0M EUR
Profit for the year attributable to the Parent	402.0M EUR	157.0M EUR
Total shareholder's equity	5.4B EUR	5.1B EUR
Cash Flow hedges	-1.0M EUR
Other comprehensive Income	-5.0M EUR	-9.0M EUR
Other comprehensive income from financial instruments valuation	-98.0M EUR	-18.0M EUR
Translation differences	-10.0M EUR	803.0M EUR
Total Other comprehensive expenses	-114.0M EUR	776.0M EUR
Equity attributable to the Parent	5.3B EUR	5.9B EUR
Non-controlling interests	2.3B EUR	2.7B EUR
Total equity	7.6B EUR	8.6B EUR	7.5B EUR
Grants	16.0M EUR	14.0M EUR
Provisions	119.0M EUR	125.0M EUR
Non-current financial liabilities	9.1B EUR	9.5B EUR
Other non-current liabilities	3.0M EUR	1.0M EUR
Deferred tax liabilities	861.0M EUR	1.0B EUR
Total non-current liabilities	10.1B EUR	10.6B EUR
Provisions	35.0M EUR	39.0M EUR
Current other financial liabilities	552.0M EUR	676.0M EUR
Suppliers	841.0M EUR	852.0M EUR
Other payables	252.0M EUR	210.0M EUR
Current income tax liabilities	25.0M EUR	61.0M EUR
Total trade and other payables	1.1B EUR	1.1B EUR
Other current liabilities	314.0M EUR	318.0M EUR
Total current liabilities	2.0B EUR	2.2B EUR
Total liabilities	12.1B EUR	12.8B EUR	13.5B EUR
Total equity and liabilities	19.7B EUR	21.4B EUR

Cash from operations⁹¹⁰¹¹¹²¹³⁵902.2M EUR in 2024+7% since 2017

Capital spending⁹¹⁰¹¹¹²¹³⁵232.5M EUR in 2024−8% since 2017

Free cash flow⁹¹⁰¹¹¹²¹³⁵669.6M EUR in 2024+13% since 2017

Every line of the cash flow in the latest annual report, as filed.⁸

Period ending	2025-12-31	2024-12-31	2023-12-31
Profit before income tax	615.0M EUR	444.0M EUR	206.0M EUR
Adjustments for:	1.1B EUR	1.2B EUR	1.0B EUR
Amortization and depreciation	450.0M EUR	438.0M EUR	446.0M EUR
Other adjustments:	698.0M EUR	744.0M EUR	588.0M EUR
(Profit) / losses on equity accounted investments	8.0M EUR	-37.0M EUR	-63.0M EUR
Impairment of assets and net provision charges	49.0M EUR	73.0M EUR	101.0M EUR
(Profit) / losses on disposal of fixed assets	2.0M EUR	1.0M EUR	7.0M EUR
Government grants taken to income	-7.0M EUR	-15.0M EUR	-10.0M EUR
Finance cost / (income)	628.0M EUR	681.0M EUR	556.0M EUR
Other adjustments	18.0M EUR	41.0M EUR	-3.0M EUR
Change in operating assets and liabilities	-31.0M EUR	23.0M EUR	-363.0M EUR
Change in inventories	-97.0M EUR	26.0M EUR	-411.0M EUR
Change in trade and other receivables	-32.0M EUR	-42.0M EUR	-69.0M EUR
Change in current financial assets and other current assets	4.0M EUR	10.0M EUR	13.0M EUR
Change in current trade and other payables	94.0M EUR	29.0M EUR	104.0M EUR
Other cash flows used in operating activities	-685.0M EUR	-747.0M EUR	-660.0M EUR
Interest paid	-532.0M EUR	-571.0M EUR	-529.0M EUR
Interest received	10.0M EUR	11.0M EUR	14.0M EUR
Income tax paid	-169.0M EUR	-176.0M EUR	-159.0M EUR
Other paid	6.0M EUR	-11.0M EUR	14.0M EUR
Net cash from/(used in) operating activities	1.0B EUR	902.0M EUR	217.0M EUR
Payments for investments	-588.0M EUR	-702.0M EUR	-432.0M EUR
Group companies, associates and business units	-108.0M EUR	-286.0M EUR	-29.0M EUR
Property, plant and equipment and intangible assets	-423.0M EUR	-372.0M EUR	-310.0M EUR
Property, plant and equipment	-265.0M EUR	-233.0M EUR	-224.0M EUR
Intangible assets	-158.0M EUR	-139.0M EUR	-86.0M EUR
Other financial assets	-57.0M EUR	-44.0M EUR	-93.0M EUR
Proceeds from the sale of investments	9.0M EUR	1.6B EUR	38.0M EUR
Non-current assets held for sale		1.6B EUR
Property, plant and equipment	4.0M EUR	24.0M EUR	23.0M EUR
Other financial assets	5.0M EUR		15.0M EUR
Net cash (used in) investing activities	-579.0M EUR	886.0M EUR	-394.0M EUR
Proceeds from and payments for financial liability instruments	-309.0M EUR	-1.4B EUR	171.0M EUR
Issue	1.4B EUR	4.0B EUR	1.6B EUR
Redemption and repayment	-1.6B EUR	-5.2B EUR	-1.4B EUR
Lease payments	-119.0M EUR	-111.0M EUR	-116.0M EUR
Dividends	-128.0M EUR	-1.0M EUR
Dividends paid	-128.0M EUR	-1.0M EUR
Other cash flows used in financing activities	-92.0M EUR	-6.0M EUR	1.0M EUR
Financing costs included in the amortized cost of the debt		-58.0M EUR
Acquisition of non-controlling interests	-129.0M EUR
Other amounts from / (used in) financing activities	37.0M EUR	52.0M EUR	1.0M EUR
Net cash from/(used in) financing activities	-529.0M EUR	-1.4B EUR	172.0M EUR
Effect of exchange rate fluctuations on cash	-94.0M EUR	22.0M EUR	-15.0M EUR
Net increase / (decrease) in cash and cash equivalents	-155.0M EUR	451.0M EUR	-20.0M EUR

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How it started

History

Grifols began in 1909 when hematologist and scientist Josep Antoni Grífols i Roig founded a clinical analysis laboratory in Barcelona: the Instituto Central de Análisis Clínicos, Bacteriológicos y Químicos, a precursor to Laboratorios Grifols. In Spain, Grífols i Roig patented the first instrument for carrying out indirect blood transfusions, the transfusion flebula. Post-war, Grífols i Roig and his sons, Josep Antoni Grífols i Lucas, a hematologist, and Víctor Grífols i Lucas, a chemist and pharmacist, founded Laboratorios Grifols, which began the start of the business dedicated to clinical analysis and the preparation of freeze-dried plasma.

In 1952, for the first time, the results of a systematic application of the plasmapheresis technique in humans was published in the British Medical Journal thanks to a study led by Josep Antoni Grífols i Lucas.

Control of the company was handed down to Víctor Grifols Roura in 1987, when Grifols created the holding company Grupo Grifols. This unified the commercial company with its clinical diagnostic, plasma-derived medicines and parenteral operations. From there, in 1988 Grifols opened its first subsidiary, in Portugal, marking the beginning of the company’s international expansion.

Stock Listings

Grifols began trading on the [Madrid stock exchange] in 2006 and was listed on the [IBEX35], the exchange’s benchmark index, in 2008. With the acquisition of Talecris Biotherapeutics in 2011, Grifols began trading on the NASDAQ.

From Wikipedia’s article on Grifols, shared under CC BY-SA 4.0.³

Leadership

Who has led Grifols, and when. Pick a name to see everywhere that person has worked.

Chief executive

Chair

Víctor Grífols i Roura2001–2017

197019801990200020102020

Chief executive officerNacho Abia Feb 26, 2024 to now¹
Chief executive officerRaimon Grífols i Roura Jan 2017 to Feb 26, 2024¹
Chief executive officerVíctor Grífols Deu Jan 2017 to Feb 26, 2024¹
Chief executive officerThomas Glanzmann¹
ChairVíctor Grífols i Roura 2001 to 2017¹
ChairAnne Berner¹
ChairThomas Glanzmann until 2025¹

Subsidiaries and ownership

Subsidiaries

Aigües Minerals de Vilajuïga, SA since 2017

From Wikidata.¹

Acquisitions

2017Acquired Aigües Minerals de Vilajuïga, SA¹

Employees over time

Grifols employees by year¹23.2K in 2021+56% since 2016

202123,234¹
202023,655¹
201614,900¹

Timeline

Feb 26, 2024New chief executive Nacho Abia becomes CEO¹
Jan 2017New chief executive Raimon Grífols i Roura becomes CEO¹
Jan 2017New chief executive Víctor Grífols Deu becomes CEO¹
2011Went public Listed on NASDAQ¹
2006Went public Listed on Madrid Stock Exchange¹
1909Founded Founded¹

Recent filings

Jul 30, 20266-K
Jul 29, 20266-K
Jun 22, 20266-K
Jun 18, 20266-K
May 15, 20266-K
May 14, 2026SCHEDULE 13G/A
May 7, 20266-K
Apr 17, 202620-F
Apr 14, 20266-K
Mar 24, 20266-K
Feb 26, 20266-K
Feb 26, 20266-K
Feb 17, 2026SCHEDULE 13G/A
Feb 12, 2026SCHEDULE 13G/A
Jan 8, 20266-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.²

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataGrifols on Wikidata
2
SEC EDGARGrifols filings on SEC EDGAR
3
WikipediaGrifols on Wikipedia
4
Wikimedia CommonsGrifols logo by Grifols, Public domain
5
SEC EDGARGrifols 10-K for fiscal 2024
6
SEC EDGARGrifols filings on SEC EDGAR
7
Wikimedia CommonsGrifols photo by Rod Doors, CC BY-SA 4.0
8
SEC EDGARGrifols 20-F for fiscal 2025: revenue by product
9
SEC EDGARGrifols 10-K for fiscal 2017
10
SEC EDGARGrifols 10-K for fiscal 2018
11
SEC EDGARGrifols 10-K for fiscal 2019
12
SEC EDGARGrifols 10-K for fiscal 2020
13
SEC EDGARGrifols 10-K for fiscal 2021