Medicover AB (MCOV.B) AI Stock Analysis

• Market Cap: kr41.07B
• Dividend Yield: 0.54%
• Average Volume (3M): 80.65K
• Price to Earnings (P/E): 84.6
• Beta (1Y): 0.56
• Revenue Growth: 15.92%
• EPS Growth: 82.51%
• Country: SE
• Employees: 47,000
• Sector: Healthcare
• Sector Strength: 37
• Industry: Medical - Care Facilities
• EPS (TTM): 1.42
• Shares Outstanding: 74,355,095
• 10 Day Avg. Volume: 96,695
• 30 Day Avg. Volume: 80,649
• 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: kr312.00
• Price Target Upside: 14.71% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 69 Neutral
• Price Target: kr297.00 ▲(9.19% Upside)

Medicover AB's stock score is primarily driven by strong technical indicators, indicating bullish momentum. However, the high P/E ratio suggests potential overvaluation, and financial performance is hindered by low profitability and high leverage. The absence of earnings call insights and corporate events limits the assessment to these core factors.

Medicover AB Business Overview & Revenue Model

Company Description

Medicover AB is a leading international healthcare and diagnostic services provider headquartered in Sweden. The company operates through two primary segments: Healthcare Services and Diagnostic Services. Medicover offers a comprehensive range of healthcare services, including outpatient and inpatient care, specialty services, and medical examinations. Additionally, its Diagnostic Services division provides a wide array of laboratory testing services. With operations spread across various countries, Medicover is committed to delivering high-quality healthcare services and diagnostic solutions to its customers.

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 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: 272.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 272 is above the 20-day moving average (MA) of 268.07, above the 50-day MA of 254.66, and above the 200-day MA of 213.24, indicating a neutral trend. The MACD of 4.80 indicates Positive momentum. The RSI at 53.51 is Neutral, neither overbought nor oversold. The STOCH value of 13.52 is Positive, 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	70 Outperform	kr10.46B	18.94		1.74%	5.75%	48.97%
HUM	70 Neutral	€1.91B	8.96	6.86%	2.69%	6.74%	75.70%
MCOV.B	69 Neutral	kr41.07B	84.58		0.54%	15.92%	82.51%
ALIF.B	66 Neutral	kr20.52B	60.86	6.27%	0.45%	4.56%	185.59%
VIMIAN	57 Neutral	kr17.14B	64.52	3.34%	―	15.07%	117.65%
VITR	54 Neutral	kr18.31B	40.24	3.46%	0.78%	0.14%	―
Sector *	52 Neutral	kr5.99B	9.30	-57.89%	2.12%	23.80%	21.79%

Medicover AB Corporate Events

Medicover Reports Strong Q2 2025 Financial Results with Significant Growth

Medicover reported strong financial performance in the second quarter of 2025, with a 17.1% increase in revenue to €596.7 million and a 96.5% rise in operating profit to €41.7 million. The company achieved significant margin expansion across all profit measures, driven by robust organic growth and efficiency improvements, particularly in Poland and Romania. The acquisition of CityFit and the integration of Synlab businesses further bolstered results, while the healthcare services and diagnostic services divisions both showed impressive growth.

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.