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MedCap AB
(MCAP)
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Rating:72Outperform
Price Target:
kr559.00
▲(1.64% Upside)
Action:Upgraded
Date:07/22/26
The score is driven primarily by strong financial performance (scaled revenue, stable operating margins, and healthy ROE) and supportive technical trend strength (price above major moving averages with positive momentum). Offsetting these positives, valuation is relatively expensive (P/E ~33), and cash conversion is less consistent in the latest TTM, which adds execution risk.
Positive Factors
Strong revenue growth
The substantial expansion in revenue shows that MedCap’s portfolio has built a materially larger operating earnings base over several years. Continued scale across healthcare products and services can support reinvestment, improve operating leverage, and provide a durable foundation for future group-level growth.
Negative Factors
Rising total debt
Although leverage remains conservative and debt-to-equity has improved, the rise in total debt increases fixed financial obligations and reduces some balance-sheet flexibility. If borrowing continues to grow faster than portfolio earnings, future capital allocation and acquisition capacity could become more constrained.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
The substantial expansion in revenue shows that MedCap’s portfolio has built a materially larger operating earnings base over several years. Continued scale across healthcare products and services can support reinvestment, improve operating leverage, and provide a durable foundation for future group-level growth.
Read all positive factors
MedCap AB (MCAP) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr7.59B
Dividend YieldN/A
Average Volume (3M)16.66K
Price to Earnings (P/E)32.1
Beta (1Y)0.61
Revenue Growth18.53%
EPS Growth20.60%
CountrySE
Employees647
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)16.04
Shares Outstanding15,080,753
10 Day Avg. Volume25,450
30 Day Avg. Volume16,660
Financial Highlights & Ratios
PEG Ratio7.70
Price to Book (P/B)5.67
Price to Sales (P/S)3.90
P/FCF Ratio29.33
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)22.91
Revenue Forecast (FY)kr2.39B
MedCap AB Business Overview & Revenue Model
Company Description
MedCap AB (publ) operates as a private equity firm, employing a diverse array of investment strategies including secondary direct deals, later-stage funding, industry consolidation, growth capital provision, engagement with middle-market and matur...
How the Company Makes Money
MedCap makes money primarily through the operating earnings of its consolidated portfolio companies and the value creation of those businesses over time. The core revenue engine sits in the subsidiaries/portfolio companies, which generate sales by...
MedCap AB Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
80
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.26B | 2.11B | 1.81B | 1.59B | 1.11B | 916.30M |
| Gross Profit | 864.00M | 321.00M | 1.06B | 926.40M | 462.40M | 369.80M |
| EBITDA | 533.90M | 473.80M | 396.00M | 341.90M | 256.20M | 201.90M |
| Net Income | 240.80M | 219.80M | 207.40M | 172.20M | 117.60M | 96.50M |
Balance Sheet | ||||||
| Total Assets | 2.78B | 2.61B | 1.99B | 1.66B | 1.43B | 1.17B |
| Cash, Cash Equivalents and Short-Term Investments | 286.30M | 370.40M | 370.10M | 188.20M | 236.20M | 139.70M |
| Total Debt | 457.60M | 482.90M | 358.00M | 261.20M | 340.00M | 256.90M |
| Total Liabilities | 1.19B | 1.15B | 703.20M | 635.10M | 570.60M | 471.80M |
| Stockholders Equity | 1.59B | 1.45B | 1.28B | 1.02B | 856.30M | 696.00M |
Cash Flow | ||||||
| Free Cash Flow | 341.10M | 280.50M | 293.80M | 188.70M | 41.20M | 55.40M |
| Operating Cash Flow | 387.70M | 342.70M | 360.00M | 228.00M | 85.50M | 116.30M |
| Investing Cash Flow | -491.10M | -391.30M | -128.80M | -152.30M | -56.10M | -64.80M |
| Financing Cash Flow | 45.90M | 52.20M | -46.10M | -119.70M | 61.20M | -64.10M |
MedCap AB Technical Analysis
Negative
550.00
Price Trends
539.88
Negative
530.26
Negative
515.11
Negative
Market Momentum
-8.84
Positive
33.01
Neutral
22.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MCAP, the sentiment is Negative. The current price of 550 is above the 20-day moving average (MA) of 523.88, above the 50-day MA of 539.88, and above the 200-day MA of 515.11, indicating a bearish trend. The MACD of -8.84 indicates Positive momentum. The RSI at 33.01 is Neutral, neither overbought nor oversold. The STOCH value of 22.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:MCAP.
MedCap AB Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | kr67.98B | 25.76 | 8.88% | 1.90% | -3.56% | 79.60% | |
74 Outperform | kr58.34B | 94.86 | 30.26% | 0.42% | 13.94% | 5.70% | |
72 Outperform | kr7.59B | 32.11 | 16.15% | ― | 18.53% | 20.60% | |
70 Outperform | kr6.56B | 76.16 | 4.13% | ― | 8.79% | -20.48% | |
57 Neutral | kr12.61B | -2.60 | -53.29% | 1.18% | -4.21% | -1194.93% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | kr925.82M | -27.08 | -3.99% | ― | -0.34% | 29.54% |
* Healthcare Sector Average
SE:MCAP
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MedCap AB Corporate Events
MedCap Delivers Double-Digit Growth and Margin Gains in Second Quarter 2026
Jul 21, 2026
MedCap AB reported strong financial performance for the second quarter of 2026, with group net sales rising 16 percent year-on-year to SEK 606.3 million and EBITA jumping 38 percent to SEK 129.5 million. The EBITA margin expanded to 21.4 percent, ...
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.