Medicover AB (MCOV.B) AI Stock Analysis

• Market Cap: kr39.18B
• Dividend Yield: 0.56%
• Average Volume (3M): 56.76K
• Price to Earnings (P/E): 81.0
• Beta (1Y): 0.56
• Revenue Growth: 15.92%
• EPS Growth: 82.51%
• Country: SE
• Employees: 47,000
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): 1.39
• Shares Outstanding: 74,355,095
• 10 Day Avg. Volume: 49,170
• 30 Day Avg. Volume: 56,757
• PEG Ratio: -17.99
• Price to Book (P/B): 5.39
• Price to Sales (P/S): 1.20
• P/FCF Ratio: 17.93
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: kr265.00
• Price Target Upside: 1.73% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 60 Neutral
• Price Target: kr271.00 ▲(4.03% Upside)

Medicover AB's overall stock score is primarily influenced by its solid financial performance, despite challenges with profitability and high leverage. The technical analysis indicates a lack of strong momentum, and the valuation suggests the stock may be overvalued. The absence of earnings call data and corporate events means these factors did not impact the score.

Medicover AB Business Overview & Revenue Model

Company Description

Medicover AB (publ) provides healthcare and diagnostic services in Germany, Sweden, Poland, Turkey, Belarus, Bulgaria, Georgia, Hungary, Serbia, Moldova, Ukraine, and India. It operates through two segment, Healthcare Services and Diagnostic Services. The company's diagnostic services comprise various tests, including allergy and autoimmune diagnostics, bacteriology, parasitology, biochemistry and immunochemistry, blood group diagnostics/transfusion medicine, tumour markers, clinical chemistry, cytology, haematology, histopathology, human genetics, hygiene, immunology and immunochemistry, infectious diseases, microbiology, molecular biology, and pharmacology/toxicology. The company operates 97 clinical laboratories, 733 blood-drawing points, and 26 clinics in 10 countries; and 117 medical clinics, 20 fertility clinics, 52 dental clinics, 25 hospitals, and 25 gyms. It serves corporate and private customers, and patients, as well as public payers. Medicover AB (publ) was founded in 1995 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Medicover AB generates revenue through several key streams. Primarily, the company earns income from its healthcare services, which include outpatient and inpatient treatments, consultations, and surgeries performed in its clinics and hospitals. Additionally, Medicover provides health insurance plans that contribute significantly to its revenue, catering to both individual and corporate clients. Laboratory diagnostics also form a substantial part of its revenue model, with a wide array of tests and screenings. The company may also engage in strategic partnerships with businesses and organizations to offer tailored healthcare solutions, enhancing its service offerings and expanding its customer base. Furthermore, Medicover's focus on quality care and patient satisfaction helps drive repeat business and referrals, bolstering its earnings.

Medicover AB Financial Statement Overview

Summary

Medicover AB shows robust revenue growth and improving profitability metrics, with strong cash flow management. However, high leverage poses a potential risk that the company needs to address for long-term stability.

Income Statement

Medicover AB has demonstrated strong revenue growth with a 37.6% increase from 2023 to 2024 and a 21.2% increase from 2022 to 2023. The TTM (Trailing-Twelve-Months) revenue growth rate stands at 3.8%. The gross profit margin for the TTM is 21.9%, showing efficient cost management. EBIT margin has increased slightly to 4.0% in the TTM, while EBITDA margin improved to 13.6%, indicating better operational efficiency. Net profit margin is modest at 1.4% in the TTM, but it reflects steady profitability with potential for future growth.

Balance Sheet

The company's debt-to-equity ratio has increased to 2.55 in the TTM, which indicates high leverage and potential risk if not managed properly. However, the return on equity (ROE) has improved to 6.3% in the TTM, suggesting improved profitability from equity. The equity ratio stands at 22.4% for the TTM, reflecting a stable, though leveraged, capital structure.

Cash Flow

Medicover AB's cash flow is strong, with a free cash flow growth of 6.6% in the TTM. The operating cash flow to net income ratio is high at 8.87, indicating good cash generation relative to profits. The free cash flow to net income ratio of 4.86 further highlights efficient cash flow management, demonstrating the company's ability to convert profits into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.26B	2.09B	1.75B	1.51B	1.38B	997.80M
Gross Profit	508.60M	448.30M	359.40M	335.60M	395.00M	263.50M
EBITDA	340.60M	171.20M	257.40M	215.90M	274.90M	151.60M
Net Income	43.40M	16.70M	17.60M	11.80M	101.80M	25.80M
Balance Sheet
Total Assets	2.32B	2.14B	1.94B	1.83B	1.68B	1.11B
Cash, Cash Equivalents and Short-Term Investments	89.40M	82.80M	64.40M	49.10M	277.90M	86.80M
Total Debt	1.42B	1.24B	1.00B	940.00M	764.60M	367.40M
Total Liabilities	1.83B	1.65B	1.41B	1.32B	1.12B	627.40M
Stockholders Equity	467.40M	464.80M	496.50M	474.70M	517.60M	448.00M
Cash Flow
Free Cash Flow	157.30M	139.60M	94.50M	29.60M	114.50M	83.50M
Operating Cash Flow	281.30M	261.90M	205.00M	170.20M	216.70M	156.00M
Investing Cash Flow	-289.80M	-134.70M	-119.80M	-184.80M	-333.60M	-126.30M
Financing Cash Flow	14.40M	-108.00M	-73.70M	-24.30M	164.10M	-14.10M

Medicover AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 260.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:MCOV.B, the sentiment is Positive. The current price of 260.5 is above the 20-day moving average (MA) of 258.90, below the 50-day MA of 262.33, and above the 200-day MA of 236.88, indicating a neutral trend. The MACD of -0.21 indicates Negative momentum. The RSI at 50.73 is Neutral, neither overbought nor oversold. The STOCH value of 65.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SE:MCOV.B.

Medicover AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ATT	―	kr11.97B	18.10	―	1.54%	2.96%	73.50%
VIMIAN	―	€16.70B	47.26	4.63%	―	17.13%	―
HUM	―	kr2.42B	9.94	7.53%	2.14%	2.11%	92.69%
ASKER	―	kr32.54B	―	―	―	―	―
AMBEA	―	€9.91B	16.83	12.76%	1.73%	8.38%	21.07%
MCOV.B	―	kr39.18B	81.00	―	0.56%	15.92%	82.51%
Sector *	―	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Medicover AB Corporate Events

Medicover’s MRD Assay Shows Promising Results in Lung Cancer Study

Medicover AB announced additional interim results from the DART clinical study at Oslo University Hospital, highlighting the effectiveness of its MRD assay in predicting disease progression in non-small cell lung cancer. The study, presented at the European Society for Medical Oncology Congress, strengthens the clinical validation of Medicover’s MRD assay, marking a significant step towards its commercialisation in 2026 and expansion into other therapeutic areas.

The most recent analyst rating on ($SE:MCOV.B) stock is a Hold with a SEK267.00 price target. To see the full list of analyst forecasts on Medicover AB stock, see the SE:MCOV.B Stock Forecast page.

Medicover AB to Announce Q3 2025 Financial Results

Medicover AB has announced that it will release its Q3 2025 financial report on November 5, 2025. The company will host a conference call for media, financial analysts, and investors, where CEO John Stubbington and CFO Anand Patel will present the report, followed by a Q&A session. This announcement is significant as it provides stakeholders with insights into the company’s financial performance and strategic direction.

The most recent analyst rating on ($SE:MCOV.B) stock is a Hold with a SEK267.00 price target. To see the full list of analyst forecasts on Medicover AB stock, see the SE:MCOV.B Stock Forecast page.

Medicover Announces Nomination Committee for 2026 AGM

Medicover AB has announced the composition of its nomination committee for the 2026 Annual General Meeting, which includes representatives from Celox Holding AB, NG Invest Beta AB, Fjärde AP-Fonden, and Swedbank Robur Fonder. This announcement is significant as it sets the stage for shareholder engagement and governance planning ahead of the AGM scheduled for April 2026.

The most recent analyst rating on ($SE:MCOV.B) stock is a Hold with a SEK265.00 price target. To see the full list of analyst forecasts on Medicover AB stock, see the SE:MCOV.B Stock Forecast page.

Medicover’s Emission Reduction Targets Validated by SBTi

Medicover AB has had its greenhouse gas emissions reduction targets validated by the Science Based Targets Initiative (SBTi). The company aims to significantly reduce its scope 1, 2, and 3 emissions by 2030 and 2050, aligning with its goal of achieving net zero emissions by 2050. This commitment underscores Medicover’s dedication to sustainability while expanding its healthcare services.

The most recent analyst rating on ($SE:MCOV.B) stock is a Hold with a SEK281.00 price target. To see the full list of analyst forecasts on Medicover AB stock, see the SE:MCOV.B Stock Forecast page.

Medicover Enhances Social Finance Framework for Greater Impact

Medicover AB has updated its Social Finance Framework to align with the latest International Capital Market Association and Loan Market Association principles. This revision emphasizes Medicover’s commitment to enhancing healthcare accessibility and promoting employee wellbeing, aiming to combine financial strength with social impact. The updated framework, reviewed by DNV, will guide the issuance of social bonds and loans to support eligible projects.

The most recent analyst rating on ($SE:MCOV.B) stock is a Hold with a SEK297.00 price target. To see the full list of analyst forecasts on Medicover AB stock, see the SE:MCOV.B Stock Forecast page.