RHON-KLINIKUM AG (RHK) AI Stock Analysis

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RHON-KLINIKUM AG

(XETRA:RHK)

Select Model

Rating:50Neutral

Price Target:EUR 14.50▼(-0.68% Downside)

Action:reiterated

Date:11/07/26

Rhön-Klinikum scores below average, driven primarily by weak operating profitability and cash generation: despite 17% revenue growth, EBIT fell roughly 91%, operating cash flow halved, and free cash flow turned negative at -€34.6m, while net margins stay in the 1–3% range and ROE near 2.6%. The main offset is a conservative balance sheet with low debt-to-equity (~0.09) and steadily rising equity, which limits financial risk. Technically the stock holds a longer-term uptrend above its 100- and 200-day averages but shows flat near-term momentum with neutral RSI and a slightly negative MACD. A 22.5x P/E looks full relative to current earnings power, and the 1.39% dividend yield offers only modest compensation. Improvement hinges on converting revenue growth into margin and cash flow recovery.

Positive Factors

Low leverageConservative leverage reduces financial strain and leaves RHÖN-KLINIKUM greater flexibility to fund hospital operations, absorb earnings volatility, or pursue investments. The decline in debt through 2025 also supports resilience if profitability remains pressured.

Negative Factors

Sharp EBIT deteriorationThe steep operating-profit decline despite revenue growth indicates significant cost pressure or other operating headwinds. If this persists, thin earnings leave less capacity to fund hospital investment, strengthen the balance sheet, or withstand further cost increases.

RHON-KLINIKUM AG (RHK) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 977.30M
Dividend Yield: 1.37%
Average Volume (3M): 2,938
Price to Earnings (P/E): 22.8
Beta (1Y): -0.01
Revenue Growth: 3.54%
EPS Growth: 11.21%
Country: Germany
Employees: 19,120
Sector: General
Sector Strength: 55
Industry: Medical - Care Facilities

RHON-KLINIKUM AG Business Overview & Revenue Model

Company Description

RHÖN-KLINIKUM Aktiengesellschaft, together with its subsidiaries, delivers extensive healthcare services across Germany, encompassing inpatient, day-patient, and outpatient treatment models. The company's hospitals provide a broad spectrum of medical...

How the Company Makes Money

RHÖN-KLINIKUM AG primarily makes money by providing medical services through the hospitals and healthcare facilities it operates and receiving reimbursement for those services. Revenue is generated largely from (1) inpatient acute care treatments (e....

RHON-KLINIKUM AG Financial Statement Overview

Summary

A solid balance sheet (score 62) with low leverage, declining debt and steadily growing equity is offset by weak earnings quality (income statement 42) and deteriorating cash generation (cash flow 38). Revenue jumped ~17% to €1.94bn in 2025, but EBIT collapsed from €48m to €4.4m and EBITDA fell ~43%, with net income down ~20% to €34.5m on razor-thin 1–3% margins. Operating cash flow nearly halved to €64.5m and free cash flow turned negative at -€34.6m amid heavy capital spending, while return on equity remains low at ~2.6%.

Income Statement

42Neutral

Balance Sheet

62Positive

Cash Flow

38Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.73B	1.94B	1.60B	1.73B	1.45B	1.40B
Gross Profit	-24.83M	167.75M	171.82M	202.88M	999.52M	182.63M
EBITDA	121.03M	69.40M	122.20M	116.58M	107.22M	100.76M
Net Income	42.09M	34.47M	43.35M	38.71M	25.14M	28.30M
Balance Sheet
Total Assets	1.83B	1.82B	1.86B	1.77B	1.70B	1.67B
Cash, Cash Equivalents and Short-Term Investments	556.55M	329.85M	409.46M	342.84M	296.33M	292.12M
Total Debt	121.88M	122.17M	149.60M	149.84M	158.20M	159.76M
Total Liabilities	466.89M	467.50M	530.51M	490.30M	453.51M	440.82M
Stockholders Equity	1.33B	1.32B	1.30B	1.25B	1.22B	1.20B
Cash Flow
Free Cash Flow	0	-34.60M	57.20M	46.20M	-16.90M	19.70M
Operating Cash Flow	0	64.50M	127.60M	109.00M	60.30M	97.50M
Investing Cash Flow	0	-132.10M	-50.40M	40.90M	-105.20M	-58.30M
Financing Cash Flow	0	-42.00M	-3.30M	-21.20M	-4.10M	-3.90M

RHON-KLINIKUM AG Technical Analysis

Technical Analysis SentimentPositive

Last Price14.60

Price Trends

50DMA14.45Positive

100DMA14.12Positive

200DMA13.31Positive

Market Momentum

MACD0.02Negative

RSI55.11Neutral

STOCH66.67Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:RHK, the sentiment is Positive. The current price of 14.60 is above the 20-day moving average (MA) of 14.47, above the 50-day MA of 14.45, and above the 200-day MA of 13.31, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 55.11 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:RHK.

RHON-KLINIKUM AG Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

DE:RHK against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:M12	79Outperform	EUR 342.65M	18.13	16.58%	6.07%	-27.50%	13.64%
DE:FME	76Outperform	EUR 10.84B	13.23	6.34%	3.77%	-0.83%	22.00%
DE:LIK	67Neutral	EUR 172.50M	31.93	22.18%	1.69%	35.46%	17.88%
DE:MED	62Neutral	EUR 256.50M	8.21	11.94%	0.74%	0.77%	-11.41%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
DE:RHK	50Neutral	EUR 977.30M	22.81	3.16%	1.37%	3.54%	11.21%
DE:MAK	27Underperform	EUR 17.20M	-1.23	16.80%	―	2.73%	-1.80%

* General Sector Average

Performance Comparison

DE:RHK and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:RHK	RHON-KLINIKUM AG	14.60	2.60	21.63%
DE:FME	Fresenius Medical Care AG & Co. KGaA	39.56	1.01	2.62%
DE:MED	MEDICLIN AG	5.40	1.92	55.08%
DE:MAK	MATERNUS-Kliniken AG	0.80	-0.29	-26.61%
DE:LIK	Limes Schlosskliniken AG	590.00	244.70	70.87%
DE:M12	M1 Kliniken AG	19.76	5.23	36.01%

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: Nov 07, 2026

RHON-KLINIKUM AG AI Stock Analysis