Want to see DE:MLP full AI Analyst Report?
Top Page
MLP AG
(XETRA:MLP)
Select Model
Select Model
Rating:57Neutral
Price Target:
€7.50
▲(6.69% Upside)
Action:Reiterated
Date:07/02/26
The score is primarily held back by elevated balance-sheet leverage and recently negative operating/free cash flow, which increase financial risk despite solid profitability. Offsetting this, the latest earnings call was constructive with record Q1 results and reaffirmed guidance, and valuation is supportive (P/E ~14 with ~4.9% yield). Technical indicators are weaker in the near term, tempering the overall outlook.
Positive Factors
High recurring revenue
A ~70% recurring revenue mix materially raises revenue visibility and resilience versus pure transaction models. For an advisory/asset management group this underpins steady fee streams, cushions earnings through market cycles and improves predictability of cash flows over the next 2–6 months.
Negative Factors
Very high leverage
A debt-to-equity ratio above 5x materially constrains financial flexibility and elevates refinancing and interest risks. With cyclical revenue components and potential margin pressure, high leverage limits the company's ability to invest or absorb shocks without deleveraging or higher financing costs.
Read all positive and negative factors
Positive Factors
Negative Factors
High recurring revenue
A ~70% recurring revenue mix materially raises revenue visibility and resilience versus pure transaction models. For an advisory/asset management group this underpins steady fee streams, cushions earnings through market cycles and improves predictability of cash flows over the next 2–6 months.
Read all positive factors
MLP AG (MLP) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€819.86M
Dividend Yield4.81%
Average Volume (3M)75.33K
Price to Earnings (P/E)14.4
Beta (1Y)0.77
Revenue Growth0.52%
EPS Growth-16.10%
CountryDE
Employees2,539
SectorGeneral
Sector StrengthN/A
IndustryAsset Management
Share Statistics
EPS (TTM)0.52
Shares Outstanding109,334,690
10 Day Avg. Volume75,863
30 Day Avg. Volume75,326
Financial Highlights & Ratios
PEG Ratio-0.71
Price to Book (P/B)1.29
Price to Sales (P/S)0.72
P/FCF Ratio-61.00
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)0.68
Revenue Forecast (FY)€1.13B
MLP AG Business Overview & Revenue Model
Company Description
MLP SE, a German financial services group founded in Wiesloch in 1971, operates through its subsidiaries to deliver comprehensive financial advisory and brokerage solutions to private individuals, corporations, and institutional clients across Ger...
How the Company Makes Money
MLP primarily generates revenue by providing financial advice and arranging financial products for clients, earning compensation tied to these activities. Key revenue streams typically include: (1) commissions and fees from insurance brokerage and...
MLP AG Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 13, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and financial start to FY2026: record Q1 revenue (+5%) and EBIT (EUR 41.3m), strong P&C growth (+12%) and stable AUM with net inflows. Capital and liquidity metrics are robust and guidance and midterm targets were reaffirmed. Headwinds include interest-rate-related weakness in real estate/financing, soft Life & Health momentum, modest cost pressures from inflation and very low performance fees. Overall, positives (record results, strong capital/liquidity, recurring revenue, confirmed guidance and strategic AI/digital initiatives) outweigh the manageable challenges.Positive Updates
Record Revenue and EBIT
Total revenue increased by 5% in Q1 to around EUR 315 million (new all-time high). EBIT reached a new Q1 high of EUR 41.3 million and the company states it is well on track to meet FY2026 EBIT guidance of EUR 100–110 million.
Negative Updates
Weakness in Real Estate Brokerage and Mortgages
Real estate brokerage and loans/mortgages were negatively impacted in Q1 by rising long-term interest rates; management reduced its expected growth for this area from a previously higher (double-plus) view to a single-plus outlook for the year.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Revenue and EBIT
Total revenue increased by 5% in Q1 to around EUR 315 million (new all-time high). EBIT reached a new Q1 high of EUR 41.3 million and the company states it is well on track to meet FY2026 EBIT guidance of EUR 100–110 million.
Read all positive updates
Company Guidance
Management reaffirmed 2026 guidance of EBIT EUR 100–110m and its midterm targets of EBIT EUR 140–155m and total revenue EUR 1.3–1.4bn by end‑2028, confirming revenue outlooks for the Wealth, Life & Health and Property & Casualty competence fields and saying rising revenue across all three will underpin 2026 earnings; Q1 already showed progress with total revenue up 5% to ~EUR 315m, Q1 EBIT a record EUR 41.3m, assets under management stable at EUR 65.2bn with net inflows of EUR 0.2bn, performance fees of ~EUR 0.5m, non‑life insurance premium volume at a new high of EUR 859m, recurring revenue ~70% (end‑2025), equity up to EUR 615m (from EUR 585m), a regulatory capital ratio of 17.8% and an LCR of 781%, and banking CET1 up ~120bps; management noted performance‑based fees are conservatively included, expects significant midterm increases in AUM and non‑life premiums, and will rely on cost discipline plus digitalisation/AI efficiency gains to deliver the plan despite modest near‑term personnel/OpEx build‑outs.MLP AG Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
44
Neutral
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.07B | 1.05B | 1.06B | 967.17M | 931.70M | 922.80M |
| Gross Profit | 284.24M | 223.46M | 339.89M | 307.82M | 285.15M | 293.92M |
| EBITDA | 143.34M | 100.71M | 137.51M | 114.43M | 113.52M | 128.50M |
| Net Income | 57.89M | 55.63M | 69.27M | 48.58M | 51.49M | 62.63M |
Balance Sheet | ||||||
| Total Assets | 4.35B | 4.29B | 4.15B | 3.92B | 3.78B | 3.69B |
| Cash, Cash Equivalents and Short-Term Investments | 66.59M | 148.10M | 1.22B | 1.12B | 1.07B | 1.45B |
| Total Debt | 3.17B | 3.28B | 3.19B | 3.03B | 2.91B | 2.76B |
| Total Liabilities | 3.74B | 3.70B | 3.58B | 3.39B | 3.26B | 3.20B |
| Stockholders Equity | 615.53M | 585.71M | 570.46M | 538.53M | 527.38M | 495.25M |
Cash Flow | ||||||
| Free Cash Flow | -49.89M | -12.39M | 137.74M | 100.06M | -314.72M | 536.29M |
| Operating Cash Flow | -25.15M | 10.64M | 164.97M | 116.67M | -292.45M | 546.35M |
| Investing Cash Flow | -59.06M | -52.47M | -28.72M | 28.55M | -84.44M | -45.37M |
| Financing Cash Flow | -74.78M | -58.91M | -41.30M | -53.23M | -38.22M | 14.02M |
MLP AG Technical Analysis
Neutral
7.03
Price Trends
7.58
Negative
7.32
Positive
7.01
Positive
Market Momentum
>-0.01
Negative
46.73
Neutral
45.61
Neutral
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 7.03 is below the 20-day moving average (MA) of 7.50, below the 50-day MA of 7.58, and above the 200-day MA of 7.01, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 46.73 is Neutral, neither overbought nor oversold. The STOCH value of 45.61 is Neutral, 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 (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | €178.36M | 8.16 | 15.86% | 5.53% | 0.49% | 38.41% | |
78 Outperform | €14.09B | 20.91 | 10.11% | 3.91% | 21.42% | 42.84% | |
57 Neutral | €819.86M | 14.35 | 9.90% | 5.21% | 0.52% | -16.10% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €130.67M | 1.14 | 145.03% | ― | -73.69% | 251.19% | |
52 Neutral | €84.92M | -4.95 | -32.51% | ― | 11.71% | -140.08% |
* General Sector Average
DE:MLP
MLP AG
7.49
-0.95
-11.26%
DE:MPCK
MPC Munchmeyer Petersen Capital AG
5.06
0.20
4.12%
DE:DWS
DWS Group GmbH & Co KGaA
70.90
20.81
41.54%
DE:ILK2
PlanetHome Investment AG
0.22
0.14
177.50%
DE:A7A
FinLab AG
14.50
-0.30
-2.03%
DE:LQAG
Lloyd Fonds Aktiengesellschaft
4.62
0.41
9.74%
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.