Medicover AB (MCOV.B) AI Stock Analysis

• Market Cap: kr36.76B
• Dividend Yield: 0.61%
• Average Volume (3M): 56.76K
• Price to Earnings (P/E): 75.7
• Beta (1Y): 0.57
• Revenue Growth: 13.89%
• EPS Growth: 231.42%
• Country: SE
• Employees: 47,000
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): 1.42
• Shares Outstanding: 74,355,095
• 10 Day Avg. Volume: 49,170
• 30 Day Avg. Volume: 56,757
• 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: kr265.00
• Price Target Upside: 12.53% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: kr261.00 ▲(10.83% Upside)

Medicover AB's overall stock score is driven by strong earnings call results and solid financial performance, despite technical analysis indicating bearish trends and valuation concerns. The company's robust revenue growth and operational improvements are significant strengths, while high leverage and profitability challenges remain key risks.

Positive Factors

Revenue Growth

Strong revenue growth across multiple countries and segments indicates robust market demand and effective business strategies, supporting long-term expansion.

Operational Efficiency

Significant improvements in EBITDA and cash flows reflect enhanced operational efficiency, which strengthens financial stability and supports future investments.

Healthcare Services Expansion

Expansion in healthcare services, including new hospital openings, indicates strategic growth and increased capacity to meet rising healthcare demands.

Negative Factors

High Leverage

High leverage can increase financial risk, limiting flexibility and potentially impacting the company's ability to invest in growth opportunities.

Profitability Challenges

Low net profit margins suggest difficulties in converting revenue growth into profits, which may hinder long-term financial performance and shareholder returns.

Consumer Behavior Caution

Cautious consumer behavior could affect revenue growth, particularly in discretionary services, posing a risk to achieving projected financial targets.

Medicover AB Business Overview & Revenue Model

Company Description

Medicover AB (MCOV.B) is a leading healthcare and diagnostic services provider operating primarily in Central and Eastern Europe. The company offers a range of services including outpatient and inpatient care, health insurance, and laboratory diagnostics. Medicover is dedicated to improving healthcare access and quality through its network of clinics, hospitals, and laboratories, serving both private and corporate clients.

How the Company Makes Money

Medicover AB generates revenue through several key streams. Primarily, the company earns income from its healthcare services, which include outpatient and inpatient treatments, consultations, and surgeries performed in its clinics and hospitals. Additionally, Medicover provides health insurance plans that contribute significantly to its revenue, catering to both individual and corporate clients. Laboratory diagnostics also form a substantial part of its revenue model, with a wide array of tests and screenings. The company may also engage in strategic partnerships with businesses and organizations to offer tailored healthcare solutions, enhancing its service offerings and expanding its customer base. Furthermore, Medicover's focus on quality care and patient satisfaction helps drive repeat business and referrals, bolstering its earnings.

Medicover AB Financial Statement Overview

Summary

Medicover AB demonstrates solid revenue growth and operational efficiency improvements, but faces challenges with profitability and high leverage. The company is generating adequate cash flow, which supports its financial stability. Continued focus on improving net margins and managing debt levels will be crucial for future financial health.

Income Statement

Medicover AB has shown consistent revenue growth with a TTM increase of 4.02%. The gross profit margin improved to 22.52% in TTM, indicating efficient cost management. However, the net profit margin remains low at 1.92%, suggesting challenges in translating revenue growth into bottom-line profitability. The EBIT and EBITDA margins have improved, reflecting better operational efficiency.

Balance Sheet

The company exhibits a high debt-to-equity ratio of 3.05 in TTM, indicating significant leverage which could pose financial risks. Return on equity has improved to 9.05%, showing better utilization of equity. However, the equity ratio is relatively low, suggesting a higher reliance on debt financing.

Cash Flow

Free cash flow growth is positive at 5.71% in TTM, and the operating cash flow to net income ratio is stable at 0.52, indicating decent cash generation relative to net income. The free cash flow to net income ratio of 0.56 suggests that the company is generating sufficient free cash flow to support its net income.

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: Negative
• Last Price: 235.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• 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 Negative. The current price of 235.5 is above the 20-day moving average (MA) of 234.05, below the 50-day MA of 248.89, and below the 200-day MA of 240.97, indicating a neutral trend. The MACD of -5.83 indicates Negative momentum. The RSI at 44.63 is Neutral, neither overbought nor oversold. The STOCH value of 67.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:MCOV.B.

Medicover AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASKER	77 Outperform	kr34.14B	―	―	―	―	―
ATT	71 Outperform	kr12.09B	18.24	―	1.45%	2.96%	73.50%
HUM	71 Outperform	€2.43B	9.97	7.53%	2.08%	2.11%	92.69%
AMBEA	65 Neutral	€9.92B	16.84	13.39%	1.56%	10.83%	16.24%
MCOV.B	64 Neutral	kr36.76B	75.72	―	0.61%	13.89%	231.42%
VIMIAN	64 Neutral	€15.69B	44.40	4.63%	―	17.13%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Medicover AB Corporate Events

Medicover Reports Strong Q3 2025 Financial Performance

Medicover reported strong financial performance in the third quarter of 2025, with a 12.1% increase in revenue to €591.6 million and a significant rise in operating profit to €42.8 million, driven by improved profitability and efficiency measures. The company’s healthcare services and diagnostic services divisions both saw substantial growth, with notable contributions from operations in Poland and Romania, and the expansion of its network with new hospital openings.

The most recent analyst rating on ($SE:MCOV.B) stock is a Hold with a SEK276.00 price target. To see the full list of analyst forecasts on Medicover AB stock, see the SE:MCOV.B Stock Forecast page.

Medicover’s MRD Assay Shows Promising Results in Lung Cancer Study

Medicover AB announced additional interim results from the DART clinical study at Oslo University Hospital, highlighting the effectiveness of its MRD assay in predicting disease progression in non-small cell lung cancer. The study, presented at the European Society for Medical Oncology Congress, strengthens the clinical validation of Medicover’s MRD assay, marking a significant step towards its commercialisation in 2026 and expansion into other therapeutic areas.

The most recent analyst rating on ($SE:MCOV.B) stock is a Hold with a SEK267.00 price target. To see the full list of analyst forecasts on Medicover AB stock, see the SE:MCOV.B Stock Forecast page.

Medicover AB to Announce Q3 2025 Financial Results

Medicover AB has announced that it will release its Q3 2025 financial report on November 5, 2025. The company will host a conference call for media, financial analysts, and investors, where CEO John Stubbington and CFO Anand Patel will present the report, followed by a Q&A session. This announcement is significant as it provides stakeholders with insights into the company’s financial performance and strategic direction.

The most recent analyst rating on ($SE:MCOV.B) stock is a Hold with a SEK267.00 price target. To see the full list of analyst forecasts on Medicover AB stock, see the SE:MCOV.B Stock Forecast page.

Medicover Announces Nomination Committee for 2026 AGM

Medicover AB has announced the composition of its nomination committee for the 2026 Annual General Meeting, which includes representatives from Celox Holding AB, NG Invest Beta AB, Fjärde AP-Fonden, and Swedbank Robur Fonder. This announcement is significant as it sets the stage for shareholder engagement and governance planning ahead of the AGM scheduled for April 2026.

The most recent analyst rating on ($SE:MCOV.B) stock is a Hold with a SEK265.00 price target. To see the full list of analyst forecasts on Medicover AB stock, see the SE:MCOV.B Stock Forecast page.

Medicover’s Emission Reduction Targets Validated by SBTi

Medicover AB has had its greenhouse gas emissions reduction targets validated by the Science Based Targets Initiative (SBTi). The company aims to significantly reduce its scope 1, 2, and 3 emissions by 2030 and 2050, aligning with its goal of achieving net zero emissions by 2050. This commitment underscores Medicover’s dedication to sustainability while expanding its healthcare services.

The most recent analyst rating on ($SE:MCOV.B) stock is a Hold with a SEK281.00 price target. To see the full list of analyst forecasts on Medicover AB stock, see the SE:MCOV.B Stock Forecast page.

Medicover Enhances Social Finance Framework for Greater Impact

Medicover AB has updated its Social Finance Framework to align with the latest International Capital Market Association and Loan Market Association principles. This revision emphasizes Medicover’s commitment to enhancing healthcare accessibility and promoting employee wellbeing, aiming to combine financial strength with social impact. The updated framework, reviewed by DNV, will guide the issuance of social bonds and loans to support eligible projects.

The most recent analyst rating on ($SE:MCOV.B) stock is a Hold with a SEK297.00 price target. To see the full list of analyst forecasts on Medicover AB stock, see the SE:MCOV.B Stock Forecast page.