M1 Kliniken AG (M12) AI Stock Analysis

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M1 Kliniken AG

(XETRA:M12)

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Rating:79Outperform

Price Target:EUR 23.00▲(17.95% Upside)

Action:reiterated

Date:10/10/26

Overall score is driven primarily by solid financial performance (growing revenues, much higher earnings vs 2022, strong recent cash generation, and low leverage). Valuation adds support through a moderate P/E and a high dividend yield, while technicals are positive but not strong, reflecting a longer-term uptrend with near-term consolidation and neutral momentum.

Positive Factors

Conservative balance sheetVery low leverage reduces financing pressure and preserves flexibility for clinic expansion, investment, or shareholder returns. Growing equity provides an additional buffer against operating volatility, while modest debt limits the drag from interest costs over the next several quarters.

Negative Factors

Revenue growth is slowingThe continued deceleration in annual revenue growth indicates that expansion and demand momentum are moderating. If this pattern persists, slower top-line progression could limit operating leverage, reduce the pace of earnings growth, and make future performance more dependent on margin improvement.

M1 Kliniken AG (M12) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 361.82M
Dividend Yield: 6.15%
Average Volume (3M): 3,191
Price to Earnings (P/E): 17.9
Beta (1Y): 0.33
Revenue Growth: -27.50%
EPS Growth: 13.64%
Country: Germany
Employees: 280
Sector: Healthcare
Sector Strength: 51
Industry: Medical - Care Facilities

M1 Kliniken AG Business Overview & Revenue Model

Company Description

M1 Kliniken AG, a Berlin, Germany-based entity established in 2007 and operating as a subsidiary of MPH Health Care AG, manages medical facilities dedicated to aesthetic and plastic surgery across Germany, Austria, the Netherlands, Switzerland, the U...

How the Company Makes Money

M1 Kliniken AG generates revenue mainly from two business areas. (1) Aesthetics/clinic operations: The company earns money by providing aesthetic medical treatments directly to patients in its clinic network. Revenue is recognized from patient-paid p...

M1 Kliniken AG Financial Statement Overview

Summary

Financial statements indicate a healthy profile: consistent revenue growth (2022–2025), sharply higher net income versus 2022, strong recent operating cash flow and free cash flow, and a conservatively financed balance sheet with very low leverage (debt-to-equity ~0.10 in 2024). Key constraints are margin visibility/volatility (notably weaker gross margin in 2023 vs 2024, and limited 2025 margin detail) and historical cash-flow volatility (2023 trough).

Income Statement

78Positive

Balance Sheet

86Very Positive

Cash Flow

82Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Mar 2025	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	257.36M	364.30M	339.18M	316.32M	285.29M	314.61M
Gross Profit	47.67M	47.43M	63.60M	32.47M	21.72M	26.06M
EBITDA	36.64M	40.49M	33.38M	21.79M	16.07M	19.78M
Net Income	20.23M	22.13M	16.02M	10.27M	4.32M	8.91M
Balance Sheet
Total Assets	177.40M	189.29M	187.87M	212.95M	197.02M	198.11M
Cash, Cash Equivalents and Short-Term Investments	60.50M	42.00M	23.69M	22.76M	47.50M	49.12M
Total Debt	5.90M	10.26M	10.42M	17.04M	19.67M	30.93M
Total Liabilities	25.14M	39.28M	53.65M	69.73M	53.97M	58.21M
Stockholders Equity	124.18M	119.93M	106.10M	113.25M	95.52M	95.03M
Cash Flow
Free Cash Flow	23.08M	37.84M	29.55M	6.80M	19.25M	14.32M
Operating Cash Flow	23.29M	37.95M	30.55M	7.81M	21.02M	15.66M
Investing Cash Flow	22.41M	-645.81K	-5.67M	-9.36M	-1.77M	213.19K
Financing Cash Flow	-13.07M	-13.41M	-30.44M	-14.81M	-21.97M	4.03M

M1 Kliniken AG Technical Analysis

Technical Analysis SentimentPositive

Last Price19.50

Price Trends

50DMA19.91Negative

100DMA19.00Positive

200DMA17.31Positive

Market Momentum

MACD-0.19Positive

RSI48.96Neutral

STOCH34.30Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:M12, the sentiment is Positive. The current price of 19.50 is below the 20-day moving average (MA) of 19.54, below the 50-day MA of 19.91, and above the 200-day MA of 17.31, indicating a neutral trend. The MACD of -0.19 indicates Positive momentum. The RSI at 48.96 is Neutral, neither overbought nor oversold. The STOCH value of 34.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:M12.

M1 Kliniken AG Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

DE:M12 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:M12	79Outperform	EUR 331.74M	17.89	16.58%	6.15%	-27.50%	13.64%
DE:FRE	73Outperform	EUR 28.65B	18.14	8.19%	2.02%	6.52%	35.52%
DE:LIK	67Neutral	EUR 159.00M	27.87	22.18%	1.94%	35.46%	17.88%
DE:MED	64Neutral	EUR 268.38M	8.80	11.54%	0.75%	2.94%	-14.28%
DE:RHK	55Neutral	EUR 977.30M	22.34	3.18%	1.40%	4.91%	11.71%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
DE:MAK	27Underperform	EUR 17.93M	-1.27	16.80%	―	2.73%	-1.80%

* Healthcare Sector Average

Performance Comparison

DE:M12 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:M12	M1 Kliniken AG	19.50	6.13	45.86%
DE:FRE	Fresenius SE & Co. KGaA	51.87	5.52	11.91%
DE:MED	MEDICLIN AG	5.35	1.83	51.90%
DE:RHK	RHON-KLINIKUM AG	14.30	2.59	22.13%
DE:MAK	MATERNUS-Kliniken AG	0.82	-0.23	-21.43%
DE:LIK	Limes Schlosskliniken AG	515.00	169.70	49.15%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 10, 2026

M1 Kliniken AG AI Stock Analysis