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Medios AG (DE:ILM1)
XETRA:ILM1
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Medios AG
(XETRA:ILM1)
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Rating:70Outperform
Price Target:
€17.50
▲(9.38% Upside)
Medios AG's overall stock score is driven by strong financial performance and a stable technical outlook. The company's solid revenue growth and cash flow generation are significant strengths, while the valuation is reasonable. The absence of earnings call data and corporate events means these factors do not influence the score.
Positive Factors
Free cash flow strength
Sustained, large free cash flow growth and a high FCF-to-net-income ratio indicate durable cash-generation ability. This funds investment in logistics, supports debt servicing and partnerships, and provides a buffer through industry cycles without reliance on external financing.
Improved leverage and capital structure
Lower leverage and a stable equity ratio materially improve financial flexibility and reduce interest burden. This strengthens the company's ability to pursue strategic investments, absorb shocks, and negotiate with suppliers or partners over a multi-quarter horizon.
Rising gross margin and revenue trends
An improving gross margin alongside steady revenue growth implies better cost management and modest pricing power in specialty distribution. These structural improvements support higher operating leverage and create a foundation for sustainable margin expansion over several quarters.
Negative Factors
Very low net profit margin
A sub-1% net margin constrains internal capital accumulation and makes earnings vulnerable to modest cost or reimbursement pressures. Persistent low net profitability limits ability to reinvest, pay down capital, or return value to shareholders over the medium term.
Modest return on equity
ROE around 3.7% indicates limited returns on shareholders' capital relative to industry expectations. This modest profitability may constrain investor appeal and implies the firm must materially improve margins or asset efficiency to drive durable shareholder value.
Concentrated distribution business model
A wholesale distribution model for specialty drugs is volume- and partner-dependent and often faces pricing pressure, reimbursement and contract risks. Reliance on manufacturer partnerships and markups can structurally cap margins and expose the business to competitive or regulatory shifts.
Medios AG (ILM1) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€408.09M
Dividend YieldN/A
Average Volume (3M)45.28K
Price to Earnings (P/E)18.3
Beta (1Y)0.79
Revenue Growth9.27%
EPS Growth65.65%
CountryDE
Employees472
SectorHealthcare
Sector Strength45
IndustryMedical - Distribution
Share Statistics
EPS (TTM)0.29
Shares Outstanding25,505,724
10 Day Avg. Volume55,289
30 Day Avg. Volume45,276
Financial Highlights & Ratios
PEG Ratio-0.73
Price to Book (P/B)0.63
Price to Sales (P/S)0.17
P/FCF Ratio4.80
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€23.67Price Target Upside47.92% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Medios AG Business Overview & Revenue Model
Company DescriptionMedios AG, together with its subsidiaries, engages in the wholesale of specialty pharmaceutical drugs in Germany. It operates through Pharmaceutical Supply and Patient-Specific Therapies segments. The Pharmaceutical Supply segment offers products on oncology, neurology, autoimmunology, ophthalmology, infectiology, and hemophilia diseases. The Patient-Specific Therapies segment manufactures medications for patients on behalf of pharmacies; and patient-specific therapies for dispensing individually dosed tablets. The company was founded in 2016 and is based in Berlin, Germany.
How the Company Makes MoneyMedios AG generates revenue primarily through the distribution of specialty pharmaceuticals, which includes high-cost medications for complex diseases. The company operates a business model that involves purchasing these pharmaceuticals from manufacturers at wholesale prices and then selling them to pharmacies and healthcare providers at a markup. Additionally, Medios AG offers value-added services such as patient management programs and digital health solutions, which further contribute to its revenue. Key partnerships with pharmaceutical companies and healthcare institutions enhance its market position and provide access to exclusive products, driving additional revenue streams. The integration of innovative technologies in their logistics and patient care processes also aids in reducing costs and improving efficiency, thereby positively impacting overall profitability.
Medios AG Earnings Call Summary
Earnings Call Date:Nov 12, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Mar 26, 2026
Earnings Call Sentiment Positive
The earnings call reflects a positive sentiment with strong financial performance and strategic advancements, despite some challenges in specific segments and increased costs related to acquisitions.Q3-2024 Updates
Positive Updates
Record Q3 Performance
The company posted its best quarter ever with significant earnings growth. EBITDA pre margin reached 5% for the first time, driven by PST and Ceban.
Strong Revenue and EBITDA Growth
Revenue grew by more than 4% to EUR 1.4 billion, with EBITDA pre increasing by more than 20% to EUR 55.8 million.
Successful Integration of Ceban
Ceban's integration is progressing smoothly, contributing significantly to the International Business segment.
Operational Cash Flow Surge
Operational cash flow increased by more than 100% to EUR 27.6 million compared to the same period last year.
Positive Future Strategy
The company is focusing on strengthening core business in Germany and expanding into other European countries, with plans to enter advanced therapies production.
Negative Updates
PST Segment Challenges
PST gross profit decreased due to deconsolidation of Kölsche Blister, regulatory headwinds, and increased performance-based payments.
Decreased EPS
Undiluted EPS for the first 9 months decreased from EUR 0.69 to EUR 0.43 due to increased depreciation, amortization, and higher interest payments.
Increased Operating Expenses
Other operating expenses rose due to higher legal and consulting costs, largely attributable to the Ceban acquisition and ERP implementation.
Equity Ratio Decline
The equity ratio decreased from 78.8% to 55.6% due to increased debt from the Ceban acquisition.
Company Guidance
During the Q3 2024 earnings call for Medios AG, the company provided several key financial metrics and guidance highlights. The company achieved a revenue growth of more than 4% to EUR 1.4 billion for the first nine months of 2024, with a significant EBITDA pre increase of over 20% to EUR 55.8 million. The EBITDA pre margin reached the 5% mark for the first time, driven by strong performances in the PST and Ceban segments. Operational cash flow more than doubled to EUR 27.6 million, and the company confirmed its guidance for 2024, anticipating full-year revenues between EUR 1.9 billion and EUR 2.1 billion and an EBITDA pre in the range of EUR 82 million to EUR 91 million. The company also noted inorganic growth due to the acquisition of Ceban, contributing EUR 47.3 million in revenue and EUR 9.8 million in EBITDA pre for the period June through October 2024. Additionally, Medios is focusing on strategic priorities, including expanding operations into other European countries and entering the production of advanced therapies, with a commitment to maintaining high-quality personalized medicines.Medios AG Financial Statement Overview
Summary
Medios AG demonstrates solid financial health with consistent revenue growth and improved profitability margins. The balance sheet reflects a strong capital structure with reduced leverage, while cash flow metrics indicate robust cash generation and management. Despite these strengths, there is room for improvement in net profit margins and return on equity to enhance overall financial performance.Income Statement
Medios AG has shown consistent revenue growth, with a TTM growth rate of 2.29%. The gross profit margin improved to 9.73% in TTM from 8.04% in 2024, indicating better cost management. However, the net profit margin remains low at 0.96%, suggesting room for improvement in profitability. The EBIT and EBITDA margins have also improved, reflecting operational efficiency gains.75
Positive
Balance Sheet
The company's debt-to-equity ratio decreased to 0.39 in TTM, indicating a healthier leverage position compared to previous years. Return on equity improved to 3.66%, showing better utilization of equity. The equity ratio is stable, reflecting a solid capital structure. However, the overall return on equity is still modest, suggesting potential for further improvement.70
Positive
Cash Flow
Medios AG's free cash flow growth is strong at 64.24% in TTM, indicating robust cash generation capabilities. The operating cash flow to net income ratio is 0.35, showing a reasonable conversion of earnings to cash. The free cash flow to net income ratio is high at 0.88, suggesting effective cash management. Overall, the cash flow position is strong, supporting future growth and debt servicing.80
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.01B | 1.88B | 1.78B | 1.61B | 1.36B | 626.54M |
| Gross Profit | 194.33M | 151.46M | 108.63M | 106.87M | 68.48M | 37.58M |
| EBITDA | 83.52M | 64.00M | 52.82M | 51.33M | 34.68M | 13.12M |
| Net Income | 22.03M | 12.55M | 18.81M | 18.33M | 7.40M | 5.53M |
Balance Sheet | ||||||
| Total Assets | 939.33M | 934.36M | 594.75M | 575.96M | 524.14M | 194.54M |
| Cash, Cash Equivalents and Short-Term Investments | 93.42M | 106.00M | 71.04M | 79.21M | 168.43M | 19.79M |
| Total Debt | 198.01M | 238.37M | 17.15M | 17.63M | 49.71M | 19.23M |
| Total Liabilities | 421.22M | 424.17M | 125.95M | 127.91M | 129.98M | 52.11M |
| Stockholders Equity | 518.11M | 510.19M | 468.81M | 448.05M | 394.16M | 142.43M |
Cash Flow | ||||||
| Free Cash Flow | 91.28M | 67.36M | 15.14M | 32.06M | 48.70M | -42.98M |
| Operating Cash Flow | 98.75M | 73.67M | 16.41M | 37.12M | 61.52M | -38.12M |
| Investing Cash Flow | -3.23M | -222.28M | -16.57M | -86.54M | 17.36M | -5.88M |
| Financing Cash Flow | -69.53M | 183.80M | -8.01M | -39.80M | 69.76M | 51.14M |
Medios AG Technical Analysis
Positive
16.00
Price Trends
14.65
Positive
14.08
Positive
13.40
Positive
Market Momentum
0.44
Negative
61.90
Neutral
69.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:ILM1, the sentiment is Positive. The current price of 16 is above the 20-day moving average (MA) of 15.38, above the 50-day MA of 14.65, and above the 200-day MA of 13.40, indicating a bullish trend. The MACD of 0.44 indicates Negative momentum. The RSI at 61.90 is Neutral, neither overbought nor oversold. The STOCH value of 69.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:ILM1.
Medios AG Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €342.93M | 19.20 | 15.61% | 2.80% | 6.52% | 7.17% | |
70 Outperform | €408.09M | 18.33 | 4.18% | ― | 9.27% | 65.65% | |
63 Neutral | €271.69M | 16.96 | ― | 2.71% | -1.64% | 22.60% | |
63 Neutral | €406.48M | -2.39 | -34.48% | ― | -14.84% | -338.52% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
42 Neutral | €131.93M | -5.03 | -112.95% | ― | -64.15% | -39.31% |
* Healthcare Sector Average
DE:ILM1
Medios AG
16.00
3.76
30.72%
DE:SBS
STRATEC Biomedical
22.35
-12.11
-35.14%
DE:HPHA
Heidelberg Pharma AG
2.82
0.51
22.08%
DE:FYB
Formycon AG
23.00
-29.80
-56.44%
DE:M12
M1 Kliniken AG
18.36
3.88
26.80%
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.