MATERNUS-Kliniken AG (MAK) AI Stock Analysis

MATERNUS-Kliniken AG

(XETRA:MAK)

Select Model

Rating:45Neutral

Price Target:EUR 0.95▲(5.08% Upside)

Action:reiterated

Date:09/25/26

The overall score reflects severe structural distress, driven primarily by persistent unprofitability, a deeply negative equity position, and escalating debt. While short-term technicals show mild bullish momentum and the company generates positive free cash flow, the highly negative earnings and substantial solvency risks severely weigh down the final rating.

Positive Factors

Recurring care revenueThe residential care model is built around recurring fees from occupied facilities, supported by insurance benefits, resident contributions and social assistance where applicable. This revenue structure can provide a durable base for operations because care needs persist over time rather than depending solely on discretionary demand.

Negative Factors

Sharp revenue declineA revenue decline of roughly one-third materially weakens the scale benefits of a facility-based care model and raises concerns about demand, occupancy, pricing or service mix. Lower revenue makes it harder to absorb fixed operating costs, sustain margins and generate enough cash to address the company’s financial obligations.

MATERNUS-Kliniken AG (MAK) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 18.98M
Dividend Yield: ―
Average Volume (3M): 2,504
Price to Earnings (P/E): -1.4
Beta (1Y): 0.44
Revenue Growth: 2.73%
EPS Growth: -1.80%
Country: Germany
Employees: 1,406
Sector: Healthcare
Sector Strength: 51
Industry: Medical - Care Facilities

MATERNUS-Kliniken AG Business Overview & Revenue Model

Company Description

Maternus-Kliniken AG oversees a network of facilities that includes retirement and nursing residences, rehabilitation centers, and a variety of specialized service companies. This enterprise primarily focuses on delivering geriatric care and medical...

How the Company Makes Money

MATERNUS-Kliniken AG makes money primarily by providing long-term care services to residents in its nursing and senior care facilities. Revenues are generated through (1) recurring care and accommodation fees paid for resident stays, typically funded...

MATERNUS-Kliniken AG Financial Statement Overview

Summary

Exhibits a highly distressed financial profile with persistent net losses, collapsing gross margins, and deeply negative equity worsened by escalating debt. The sole mitigating factor is its resilient positive free cash flow generation.

Income Statement

20Very Negative

Balance Sheet

10Very Negative

Cash Flow

65Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	119.30M	118.00M	114.00M	102.31M	106.70M	111.44M
Gross Profit	17.00M	23.00M	98.78M	87.45M	86.98M	97.52M
EBITDA	1.42M	4.07M	10.71M	4.71M	1.71M	14.96M
Net Income	-13.70M	-13.90M	-13.16M	-14.26M	-14.08M	-2.56M
Balance Sheet
Total Assets	147.35M	149.87M	139.88M	154.38M	153.40M	165.41M
Cash, Cash Equivalents and Short-Term Investments	5.05M	5.35M	4.94M	9.99M	5.20M	16.02M
Total Debt	205.41M	183.19M	165.41M	112.35M	117.81M	123.65M
Total Liabilities	228.35M	230.46M	206.72M	206.49M	190.95M	186.76M
Stockholders Equity	-82.50M	-80.59M	-66.84M	-53.76M	-39.30M	-25.34M
Cash Flow
Free Cash Flow	12.79M	11.16M	13.86M	-1.44M	2.33M	15.32M
Operating Cash Flow	16.11M	14.03M	15.07M	2.52M	4.33M	17.24M
Investing Cash Flow	-3.32M	-2.87M	-1.07M	-3.96M	-2.00M	-1.92M
Financing Cash Flow	-9.91M	-10.17M	-11.68M	-69.00K	-12.76M	-12.79M

MATERNUS-Kliniken AG Technical Analysis

Technical Analysis SentimentNeutral

Last Price0.91

Price Trends

50DMA0.90Negative

100DMA0.92Negative

200DMA0.99Negative

Market Momentum

MACD-0.01Negative

RSI50.40Neutral

STOCH62.38Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:MAK, the sentiment is Neutral. The current price of 0.91 is above the 20-day moving average (MA) of 0.89, above the 50-day MA of 0.90, and below the 200-day MA of 0.99, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 50.40 is Neutral, neither overbought nor oversold. The STOCH value of 62.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DE:MAK.

MATERNUS-Kliniken AG Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

DE:MAK against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:LIK	67Neutral	EUR 153.00M	27.60	22.18%	1.96%	35.46%	17.88%
DE:MED	64Neutral	EUR 251.75M	8.72	11.54%	0.75%	2.94%	-14.28%
DE:RHK	55Neutral	EUR 963.91M	22.50	3.18%	1.39%	4.91%	11.71%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
DE:MAK	45Neutral	EUR 18.98M	-1.39	16.80%	―	2.73%	-1.80%

* Healthcare Sector Average

Performance Comparison

DE:MAK and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:MAK	MATERNUS-Kliniken AG	0.91	-0.14	-12.98%
DE:MED	MEDICLIN AG	5.30	1.68	46.37%
DE:RHK	RHON-KLINIKUM AG	14.40	2.49	20.95%
DE:LIK	Limes Schlosskliniken AG	510.00	158.82	45.22%
DE:EIF	Eifelhoehen-Klinik AG	4.06	0.86	26.87%
DE:JTH0	Gesundheitswelt Chiemgau AG	11.40	-1.20	-9.52%

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: Sep 25, 2026

MATERNUS-Kliniken AG AI Stock Analysis