Medartis Holding Valuation

Q: What is the Fair Price of MED when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

MED (CHF58.4) is trading above our estimate of [[fair value]] (CHF25.46)

Is MED undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MED when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MED (CHF58.4) is trading above our estimate of fair value (CHF25.46)

Significantly Below Fair Value: MED is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MED?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for MED. This is calculated by dividing MED's market cap by their current preferred multiple.
What is MED's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	CHF 793.13m

MED key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3.6x
Enterprise Value/EBITDA	30.5x
PEG Ratio	3.8x

Price to Sales Ratio vs Peers

How does MED's PS Ratio compare to its peers?

The above table shows the PS ratio for MED vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	3x
MEDX medmix	0.9x	4.0%	CHF 424.2m
METN Metall Zug	1.2x	-26.8%	CHF 544.5m
MOVE Medacta Group	4.8x	12.0%	CHF 2.5b
SOON Sonova Holding	5x	6.3%	CHF 18.1b
MED Medartis Holding	3.6x	13.7%	CHF 793.1m

Price-To-Sales vs Peers: MED is expensive based on its Price-To-Sales Ratio (3.6x) compared to the peer average (3x).

Price to Earnings Ratio vs Industry

How does MED's PE Ratio compare vs other companies in the European Medical Equipment Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	15.0%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	15.0%
	n/a	n/a	n/a

No more companies

Price-To-Sales vs Industry: MED is good value based on its Price-To-Sales Ratio (3.6x) compared to the European Medical Equipment industry average (3.7x).

Price to Sales Ratio vs Fair Ratio

What is MED's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MED PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	3.6x
Fair PS Ratio	6.6x

Price-To-Sales vs Fair Ratio: MED is good value based on its Price-To-Sales Ratio (3.6x) compared to the estimated Fair Price-To-Sales Ratio (6.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MED forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	CHF 58.40	CHF 98.20 +68.2%	10.0%	CHF 110.00	CHF 85.40	n/a	4
Sep ’25	CHF 63.50	CHF 98.20 +54.6%	10.0%	CHF 110.00	CHF 85.40	n/a	4
Aug ’25	CHF 75.00	CHF 98.98 +32.0%	9.5%	CHF 110.00	CHF 85.40	n/a	4
Jul ’25	CHF 68.40	CHF 98.98 +44.7%	9.5%	CHF 110.00	CHF 85.40	n/a	4
Jun ’25	CHF 76.50	CHF 98.98 +29.4%	9.5%	CHF 110.00	CHF 85.40	n/a	4
May ’25	CHF 80.20	CHF 98.98 +23.4%	9.5%	CHF 110.00	CHF 85.40	n/a	4
Apr ’25	CHF 89.40	CHF 98.85 +10.6%	9.7%	CHF 110.00	CHF 84.90	n/a	4
Mar ’25	CHF 72.70	CHF 96.78 +33.1%	11.7%	CHF 110.00	CHF 81.80	n/a	4
Feb ’25	CHF 73.90	CHF 101.77 +37.7%	8.2%	CHF 110.00	CHF 90.30	n/a	3
Jan ’25	CHF 84.00	CHF 101.77 +21.2%	8.2%	CHF 110.00	CHF 90.30	n/a	3
Dec ’24	CHF 73.20	CHF 101.77 +39.0%	8.2%	CHF 110.00	CHF 90.30	n/a	3
Nov ’24	CHF 71.40	CHF 101.77 +42.5%	8.2%	CHF 110.00	CHF 90.30	n/a	3
Oct ’24	CHF 84.10	CHF 132.65 +57.7%	31.9%	CHF 175.00	CHF 90.30	n/a	2
Sep ’24	CHF 88.50	CHF 113.43 +28.2%	38.8%	CHF 175.00	CHF 75.00	CHF 63.50	3
Aug ’24	CHF 81.00	CHF 110.13 +36.0%	43.0%	CHF 175.00	CHF 63.00	CHF 75.00	3
Jul ’24	CHF 76.70	CHF 110.13 +43.6%	43.0%	CHF 175.00	CHF 63.00	CHF 68.40	3
Jun ’24	CHF 74.30	CHF 119.00 +60.2%	47.1%	CHF 175.00	CHF 63.00	CHF 76.50	2
May ’24	CHF 74.10	CHF 119.00 +60.6%	47.1%	CHF 175.00	CHF 63.00	CHF 80.20	2
Apr ’24	CHF 71.40	CHF 119.00 +66.7%	47.1%	CHF 175.00	CHF 63.00	CHF 89.40	2
Mar ’24	CHF 70.40	CHF 126.50 +79.7%	38.3%	CHF 175.00	CHF 78.00	CHF 72.70	2
Feb ’24	CHF 76.50	CHF 126.50 +65.4%	38.3%	CHF 175.00	CHF 78.00	CHF 73.90	2
Jan ’24	CHF 82.00	CHF 126.50 +54.3%	38.3%	CHF 175.00	CHF 78.00	CHF 84.00	2
Dec ’23	CHF 90.40	CHF 126.50 +39.9%	38.3%	CHF 175.00	CHF 78.00	CHF 73.20	2
Nov ’23	CHF 77.80	CHF 124.00 +59.4%	32.1%	CHF 175.00	CHF 78.00	CHF 71.40	3
Oct ’23	CHF 68.00	CHF 124.00 +82.4%	32.1%	CHF 175.00	CHF 78.00	CHF 84.10	3
Sep ’23	CHF 68.20	CHF 124.00 +81.8%	32.1%	CHF 175.00	CHF 78.00	CHF 88.50	3

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.