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MLP AG (DE:MLP)
XETRA:MLP
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MLP AG
(XETRA:MLP)
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Rating:65Neutral
Price Target:
€7.00
▲(2.79% Upside)
MLP AG's overall stock score is driven by its operational efficiency and strong return on equity. However, the stock faces challenges with declining revenue growth, high leverage, and a bearish technical outlook. The valuation is attractive with a low P/E ratio and high dividend yield, providing some support. The earnings call provided mixed signals with record highs in revenue but concerns in certain business segments.
Positive Factors
Revenue Growth
Achieving record revenue despite a challenging environment indicates strong demand for MLP's services and effective business strategies.
Assets Under Management
Growth in assets under management strengthens MLP's market position and enhances its ability to generate fee-based income.
Liquidity Coverage
A strong liquidity coverage ratio ensures MLP can meet short-term obligations, supporting financial stability and operational resilience.
Negative Factors
Decline in EBIT
A decline in EBIT suggests challenges in maintaining profitability, which could impact future earnings and investment capacity.
High Leverage
High leverage increases financial risk, potentially limiting MLP's ability to invest in growth opportunities or weather economic downturns.
Free Cash Flow Decline
A decline in free cash flow limits MLP's ability to reinvest in the business, pay dividends, or reduce debt, impacting long-term financial health.
MLP AG (MLP) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€744.43M
Dividend Yield5.29%
Average Volume (3M)75.33K
Price to Earnings (P/E)11.4
Beta (1Y)0.77
Revenue Growth2.33%
EPS Growth1.58%
CountryDE
Employees2,454
SectorEnergy
Sector Strength52
IndustryAsset Management
Share Statistics
EPS (TTM)0.14
Shares Outstanding109,334,690
10 Day Avg. Volume75,863
30 Day Avg. Volume75,326
Financial Highlights & Ratios
PEG Ratio0.22
Price to Book (P/B)1.17
Price to Sales (P/S)0.63
P/FCF Ratio4.86
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 ConsensusModerate Buy
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
MLP AG Business Overview & Revenue Model
Company DescriptionMLP AG is a leading German financial services company that specializes in providing holistic financial planning and advisory services primarily to private clients, self-employed individuals, and companies. Operating mainly in the sectors of financial consulting, insurance, and asset management, MLP offers a diverse range of products, including retirement planning, investment solutions, health insurance, and risk management services. The company is known for its tailored financial strategies and comprehensive support, aiming to enhance the financial well-being of its clients.
How the Company Makes MoneyMLP AG generates revenue through multiple key streams, primarily focusing on fees and commissions from financial advisory services. The company earns money by providing personalized financial consultancy, where clients pay for tailored plans that encompass investments, insurance, and retirement solutions. Additionally, MLP receives commissions from financial product providers when clients purchase insurance policies or investment products through their platform. Strategic partnerships with financial institutions and product manufacturers also play a significant role in their revenue generation, as these collaborations allow MLP to offer a wider range of products while earning related fees. The company's business model emphasizes long-term client relationships, encouraging repeat engagements and continuous advisory services, which further solidify its revenue base.
MLP AG Earnings Call Summary
Earnings Call Date:Nov 13, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 12, 2026
Earnings Call Sentiment Neutral
MLP demonstrated robust performance in several areas, achieving record highs in total revenue and assets under management. However, the company faced challenges with a decline in EBIT, reduced performance fees, and weaker-than-expected results in certain business segments such as real estate and old-age provision.Q3-2025 Updates
Positive Updates
Record High in Total Revenue
MLP achieved new highs in total revenue of around EUR 773 million for the first 9 months of 2025, despite a challenging macroeconomic environment.
Growth in Assets Under Management
Assets under management reached a new high of EUR 64.2 billion, making MLP the second-largest bank-independent asset manager in Germany.
Increase in Non-Life Insurance Premium Volume
Managed non-life insurance premium volume reached a record high of EUR 794 million.
Positive Development in Property & Casualty Field
The Property & Casualty competence field grew by 7% in the first 9 months of 2025.
Strong Liquidity Coverage Ratio
MLP's liquidity coverage ratio was at 1,124%, significantly above the regulatory requirement of 100%.
Successful Trainee Program
The number of consultants rose to 2,121, primarily due to the successful trainee program.
Negative Updates
Decline in EBIT
EBIT for the first 9 months of 2025 was EUR 61.1 million, below the previous year's record high of EUR 66.4 million.
Weakness in Wealth Competence Field
The Wealth competence field recorded a slight decline in revenue of minus 2%, primarily due to lower performance-based compensation.
Real Estate Business Challenges
MLP adjusted its EBIT forecast due to weaker-than-expected performance in the real estate development business.
Lower Performance Fees
Performance fees for the first 9 months were EUR 4.8 million, significantly lower than the previous year's EUR 26.8 million.
Weaker Old-Age Provision Business
MLP adjusted its expectations for the old-age provision business, anticipating stable rather than increased revenue.
Company Guidance
During the conference call discussing MLP SE's results for the third quarter and first nine months of 2025, significant metrics were highlighted. The company achieved new highs in total revenue, reaching approximately EUR 773 million, with a recurring revenue share of almost 70%. Assets under management rose to EUR 64.2 billion, making MLP the second-largest bank-independent asset manager in Germany. Managed non-life insurance premium volume hit a new high of EUR 794 million. Despite a challenging macroeconomic environment, MLP's EBIT for the first nine months stood at EUR 61.1 million, slightly below the previous year's record of EUR 66.4 million but above the five-year average of EUR 47.6 million. The company revised its EBIT forecast for 2025 to EUR 90-100 million, accounting for lower performance-based compensation and weaker old-age provision business. MLP's strategic focus on digitalization, notably AI, and its robust multi-pillar business model, aim to support its ambitious midterm EBIT target of EUR 140-155 million by 2028.MLP AG Financial Statement Overview
Summary
MLP AG shows operational efficiency with stable margins and strong return on equity. However, declining revenue growth and high leverage pose financial risks. The significant drop in free cash flow growth is concerning, indicating potential liquidity issues.Income Statement
MLP AG's income statement shows a stable gross profit margin around 31-32% over the years, indicating consistent cost management. However, the net profit margin has slightly decreased in the TTM period to 6.4% from 6.5% in the previous year, reflecting a slight dip in profitability. The revenue growth rate has turned negative in the TTM period, indicating a revenue decline, which is a concern. Despite this, the EBIT and EBITDA margins remain healthy, suggesting operational efficiency.72
Positive
Balance Sheet
The balance sheet reveals a high debt-to-equity ratio of approximately 5.59, indicating significant leverage which could pose financial risks. However, the return on equity remains strong at around 12.3% in the TTM period, suggesting effective use of equity to generate profits. The equity ratio is relatively low, reflecting a higher reliance on debt financing.65
Positive
Cash Flow
The cash flow statement highlights a significant decline in free cash flow growth in the TTM period, down by 58.5%, which is concerning. The operating cash flow to net income ratio is low, indicating potential issues in converting income into cash. However, the free cash flow to net income ratio remains robust, suggesting that despite the decline, the company still generates sufficient free cash flow relative to its net income.58
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.08B | 1.06B | 967.17M | 931.70M | 922.80M | 758.67M |
| Gross Profit | 335.45M | 339.89M | 307.82M | 285.15M | 293.92M | 236.60M |
| EBITDA | 123.50M | 137.51M | 114.43M | 113.52M | 128.50M | 88.15M |
| Net Income | 60.06M | 69.27M | 48.58M | 51.49M | 62.63M | 43.25M |
Balance Sheet | ||||||
| Total Assets | 4.17B | 4.15B | 3.92B | 3.78B | 3.69B | 3.24B |
| Cash, Cash Equivalents and Short-Term Investments | 77.17M | 1.22B | 1.12B | 1.07B | 1.45B | 967.72M |
| Total Debt | 3.15B | 3.19B | 3.03B | 2.91B | 2.76B | 2.44B |
| Total Liabilities | 3.61B | 3.58B | 3.39B | 3.26B | 3.20B | 2.78B |
| Stockholders Equity | 560.78M | 570.46M | 538.53M | 527.38M | 495.25M | 453.24M |
Cash Flow | ||||||
| Free Cash Flow | 38.33M | 137.74M | 100.06M | -314.72M | 536.29M | 398.78M |
| Operating Cash Flow | 57.33M | 164.97M | 116.67M | -292.45M | 546.35M | 408.07M |
| Investing Cash Flow | -45.53M | -26.89M | 28.55M | -84.44M | -45.37M | -28.32M |
| Financing Cash Flow | -89.10M | -43.44M | -53.23M | -38.22M | 14.02M | -31.49M |
MLP AG Technical Analysis
Neutral
6.81
Price Trends
6.91
Negative
7.27
Negative
7.49
Negative
Market Momentum
-0.04
Negative
56.55
Neutral
86.50
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:MLP, the sentiment is Neutral. The current price of 6.81 is above the 20-day moving average (MA) of 6.48, below the 50-day MA of 6.91, and below the 200-day MA of 7.49, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 56.55 is Neutral, neither overbought nor oversold. The STOCH value of 86.50 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DE:MLP.
MLP AG Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | €170.96M | 9.24 | 14.53% | 5.45% | 1.42% | 8.56% | |
67 Neutral | €449.44M | 14.23 | 4.65% | 4.97% | -17.47% | 76.28% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | €744.43M | 11.36 | 11.63% | 5.29% | 2.33% | 1.58% | |
61 Neutral | €583.95M | 15.22 | 4.23% | 7.03% | 14.56% | ― | |
48 Neutral | €129.76M | ― | ― | ― | ― | ― | |
46 Neutral | €74.42M | -9.63 | -13.87% | ― | 10.82% | 43.50% |
* Energy Sector Average
DE:MLP
MLP AG
6.81
1.23
21.98%
DE:DBAN
Deutsche Beteiligungs
25.15
1.79
7.65%
DE:MPCK
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4.95
-0.66
-11.76%
DE:MUX
Mutares SE & Co. KGaA
28.45
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22.84%
DE:A7A
FinLab AG
14.40
4.36
43.43%
DE:LQAG
Lloyd Fonds Aktiengesellschaft
4.60
-0.42
-8.37%
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.