Medicover AB (MCOV.B) AI Stock Analysis

• Market Cap: kr39.33B
• Dividend Yield: 0.56%
• Average Volume (3M): 93.53K
• Price to Earnings (P/E): 112.7
• Beta (1Y): 0.49
• Revenue Growth: 18.16%
• EPS Growth: 35.85%
• Country: SE
• Employees: 47,000
• Sector: Healthcare
• Sector Strength: 40
• Industry: Medical - Care Facilities
• EPS (TTM): 1.50
• Shares Outstanding: 74,355,095
• 10 Day Avg. Volume: 59,400
• 30 Day Avg. Volume: 93,525
• PEG Ratio: 1.38
• Price to Book (P/B): 7.09
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 22.93
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 66 Neutral
• Price Target: ―

Medicover AB's stock score is driven by strong financial performance and positive technical indicators, tempered by concerns over high leverage and a high P/E ratio suggesting overvaluation. Efficient cash flow management and robust revenue growth are significant strengths, but investors should be cautious of the stock's valuation metrics.

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 its two main segments—Healthcare Services and Diagnostic Services. In the Healthcare Services segment, the company earns money by providing medical care services, which include outpatient and inpatient care, specialist consultations, and various medical procedures. Patients pay for these services either directly or through insurance providers. The Diagnostic Services segment contributes to revenue by offering laboratory testing and diagnostic solutions to hospitals, clinics, and individual patients. Medicover's earnings are further supported by strategic partnerships with healthcare providers and insurance companies, which help expand its customer base and enhance service offerings. The company's diversified presence across multiple countries also allows it to tap into various healthcare markets, thus contributing to its revenue growth.

Medicover AB Financial Statement Overview

Summary

Medicover AB shows strong revenue growth and improving profitability metrics. The high leverage indicated by the debt-to-equity ratio poses a potential risk, but efficient cash flow management helps offset this concern.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.09B	1.75B	1.51B	1.38B	997.80M
Gross Profit	448.30M	359.40M	335.60M	395.00M	263.50M
EBITDA	277.10M	257.40M	215.90M	274.90M	151.60M
Net Income	16.70M	17.60M	11.80M	101.80M	25.80M
Balance Sheet
Total Assets	2.14B	1.94B	1.83B	1.68B	1.11B
Cash, Cash Equivalents and Short-Term Investments	82.80M	64.40M	49.10M	277.90M	86.80M
Total Debt	1.24B	1.00B	940.00M	764.60M	367.40M
Total Liabilities	1.65B	1.41B	1.32B	1.12B	627.40M
Stockholders Equity	464.80M	496.50M	474.70M	517.60M	448.00M
Cash Flow
Free Cash Flow	139.60M	94.50M	29.60M	114.50M	83.50M
Operating Cash Flow	261.90M	205.00M	170.20M	216.70M	156.00M
Investing Cash Flow	-134.70M	-119.80M	-184.80M	-333.60M	-126.30M
Financing Cash Flow	-108.00M	-73.70M	-24.30M	164.10M	-14.10M

Medicover AB Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 260.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• 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 is above the 20-day moving average (MA) of 253.12, above the 50-day MA of 245.49, and above the 200-day MA of 206.43, indicating a bullish trend. The MACD of 5.74 indicates Positive momentum. The RSI at 63.55 is Neutral, neither overbought nor oversold. The STOCH value of 44.56 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
MCOV.B	66 Neutral	kr39.33B	112.72		0.56%	18.16%	35.85%
Sector *	52 Neutral	$7.53B	0.20	-63.81%	2.31%	16.15%	0.40%
0YAY	―	kr19.91B	39.97	3.79%	7.17%	―	―
ATT	70 Outperform	kr10.04B	19.86		1.80%	9.68%	31.27%
ADDLF	―	$2.33B	81.47	5.83%	0.42%	―	―
47H	―	€168.76M	9.47	6.38%	2.73%	―	―
0V0	―	€1.97B	100.43	3.18%	―	―	―

Medicover AB Corporate Events

Medicover AB to Present Q2 2025 Financial Results

Medicover AB has announced its upcoming Q2 2025 financial results presentation, scheduled for July 24, 2025. The event will feature a conference call led by CEO John Stubbington and CFO Anand Patel, providing insights into the company’s performance and allowing for a Q&A session with media, analysts, and investors.

Medicover Announces Share Structure Adjustment

Medicover AB has announced a change in its share structure, with 7,675 class A shares converted into class B shares following shareholder requests. As of the last trading day of June 2025, the company has a total of 153,535,195 shares, with the conversion affecting the distribution of votes among the different classes of shares. This adjustment in share structure may impact the company’s governance and voting dynamics.

Medicover Appoints New Chief Digital Information Officer

Medicover AB has announced the appointment of Lukasz Krause as the new Chief Digital Information Officer (CDIO), effective 1 July 2025. Krause, who has been with Medicover for three years as the Head of IT for the Healthcare Services division, brings extensive IT management experience from international corporations. He succeeds Jarek Urbanczyk, who is leaving after nearly six years. The company believes Krause’s expertise will ensure technology continues to drive Medicover’s future success.

Medicover’s MRD Assay Shows Promise in Lung Cancer Detection

Medicover AB has announced promising interim results from the DART clinical study, which indicate that their minimal residual disease (MRD) assay can effectively detect MRD in lung cancer patients. This development marks a significant milestone towards the clinical validation and potential commercialization of their MRD assay, which could help identify high-risk patients and guide tailored interventions, thereby impacting the company’s market positioning in the genetics and diagnostics sector.