OM:MCOV B

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Executive Summary

Medicover AB (publ) provides healthcare and diagnostic services in Germany, Romania, Ukraine, Poland, Belarus, Moldova, Serbia, Turkey, Georgia, Bulgaria, Sweden, India, and Hungary. More Details


Snowflake Analysis

Reasonable growth potential with mediocre balance sheet.


Similar Companies

Share Price & News

How has Medicover's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MCOV B has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.8%

MCOV B

-2.9%

SE Healthcare

-2.4%

SE Market


1 Year Return

49.7%

MCOV B

20.7%

SE Healthcare

16.8%

SE Market

Return vs Industry: MCOV B exceeded the Swedish Healthcare industry which returned 20.7% over the past year.

Return vs Market: MCOV B exceeded the Swedish Market which returned 16.8% over the past year.


Shareholder returns

MCOV BIndustryMarket
7 Day-2.8%-2.9%-2.4%
30 Day12.7%6.1%1.4%
90 Day26.9%24.4%11.8%
1 Year49.7%49.7%20.7%20.7%18.9%16.8%
3 Year96.7%96.7%1.0%-1.3%31.9%17.8%
5 Yearn/a0.7%-6.0%69.4%36.4%

Price Volatility Vs. Market

How volatile is Medicover's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Medicover undervalued compared to its fair value and its price relative to the market?

35.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MCOV B (SEK124.4) is trading below our estimate of fair value (SEK192.19)

Significantly Below Fair Value: MCOV B is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MCOV B is poor value based on its PE Ratio (414x) compared to the SE Healthcare industry average (22.7x).

PE vs Market: MCOV B is poor value based on its PE Ratio (414x) compared to the Swedish market (22.2x).


Price to Earnings Growth Ratio

PEG Ratio: MCOV B is poor value based on its PEG Ratio (10.4x)


Price to Book Ratio

PB vs Industry: MCOV B is overvalued based on its PB Ratio (4x) compared to the SE Healthcare industry average (1.6x).


Next Steps

Future Growth

How is Medicover forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

39.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MCOV B's forecast earnings growth (39.9% per year) is above the savings rate (0.5%).

Earnings vs Market: MCOV B's earnings (39.9% per year) are forecast to grow faster than the Swedish market (14.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MCOV B's revenue (13.4% per year) is forecast to grow faster than the Swedish market (3.8% per year).

High Growth Revenue: MCOV B's revenue (13.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MCOV B's Return on Equity is forecast to be low in 3 years time (11%).


Next Steps

Past Performance

How has Medicover performed over the past 5 years?

15.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MCOV B has a large one-off loss of €11.1M impacting its June 30 2020 financial results.

Growing Profit Margin: MCOV B's current net profit margins (0.4%) are lower than last year (2.6%).


Past Earnings Growth Analysis

Earnings Trend: MCOV B's earnings have grown by 15.8% per year over the past 5 years.

Accelerating Growth: MCOV B's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MCOV B had negative earnings growth (-80.4%) over the past year, making it difficult to compare to the Healthcare industry average (-15%).


Return on Equity

High ROE: MCOV B's Return on Equity (0.4%) is considered low.


Next Steps

Financial Health

How is Medicover's financial position?


Financial Position Analysis

Short Term Liabilities: MCOV B's short term assets (€283.7M) exceed its short term liabilities (€234.7M).

Long Term Liabilities: MCOV B's short term assets (€283.7M) do not cover its long term liabilities (€366.4M).


Debt to Equity History and Analysis

Debt Level: MCOV B's debt to equity ratio (42.7%) is considered high.

Reducing Debt: MCOV B's debt to equity ratio has reduced from 136.6% to 42.7% over the past 5 years.

Debt Coverage: MCOV B's debt is well covered by operating cash flow (60.5%).

Interest Coverage: MCOV B's interest payments on its debt are not well covered by EBIT (2x coverage).


Balance Sheet


Next Steps

Dividend

What is Medicover current dividend yield, its reliability and sustainability?

0.91%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MCOV B's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MCOV B's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MCOV B's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MCOV B's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: MCOV B is not paying a notable dividend for the Swedish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MCOV B's dividend in 3 years as they are not forecast to pay a notable one for the Swedish market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.6yrs

Average management tenure


CEO

Fredrik Rågmark (57 yo)

no data

Tenure

€1,305,000

Compensation

Mr. Fredrik Rågmark serves as the Group Chief Executive Officer of Medicover AB (publ). Mr. Rågmark has been employed with Medicover since 1996. He serves as Managing Director and Board Member of Kalvskär ...


CEO Compensation Analysis

Compensation vs Market: Fredrik's total compensation ($USD1.52M) is above average for companies of similar size in the Swedish market ($USD959.62K).

Compensation vs Earnings: Fredrik's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Fredrik Rågmark
CEO & Directorno data€1.31m1.33%
€ 246.2m
Joe Ryan
Chief Financial Officerno datano data0.78%
€ 144.7m
Jaroslaw Urbanczyk
Chief Information Officer0.92yrno datano data
Hanna Bjellquist
Head of Investor Relationsno datano datano data
Jenny Brandt
General Legal Counselno datano data0.011%
€ 2.1m
Andrew Vallance-Owen
Chief Marketing Officerno datano datano data
Liselotte Bergmark
Group Human Resource Director2.67yrsno data0.0018%
€ 330.3k
John Stubbington
Chief Operating Officer of Healthcare Services4.58yrsno data0.35%
€ 65.2m
Benedikt Von Braunmühl
Chief Operating Officer of Diagnostic Servicesno datano data0.027%
€ 5.1m
Marcin Radziwill
Chief Executive Officer of Medicover Foundationno datano datano data
Virgil Ivan
Managing Director of Synevo Romania - Medicover Laboratory Servicesno datano datano data
Peter Grossmann
Managing Director of Hungary Operations15.67yrsno datano data

3.6yrs

Average Tenure

53yo

Average Age

Experienced Management: MCOV B's management team is considered experienced (3.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Fredrik Rågmark
CEO & Directorno data€1.31m1.33%
€ 246.2m
Robert Jochnick
Independent Director13.67yrs€48.00k1.19%
€ 219.0m
Fredrik Stenmo
Independent Chairman3.67yrs€85.00k4.33%
€ 799.8m
Margareta Nordenvall
Independent Director19.67yrs€58.00k0.053%
€ 9.8m
Arno Bohn
Independent Director19.67yrs€51.00k0.20%
€ 37.3m
CMD Flemming
Independent Director5.67yrs€67.00kno data
Peder Jochnick
Independent Director8.67yrs€48.00k2.58%
€ 475.3m
Sonali Chandmal
Independent Director3.67yrs€58.00k0.017%
€ 3.1m

11.2yrs

Average Tenure

60yo

Average Age

Experienced Board: MCOV B's board of directors are seasoned and experienced ( 11.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.3%.


Top Shareholders

Company Information

Medicover AB (publ)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Medicover AB (publ)
  • Ticker: MCOV B
  • Exchange: OM
  • Founded: 1995
  • Industry: Health Care Services
  • Sector: Healthcare
  • Market Cap: kr18.453b
  • Shares outstanding: 148.34m
  • Website: https://www.medicover.com

Number of Employees


Location

  • Medicover AB (publ)
  • PO Box 5283
  • Stockholm
  • Stockholm County
  • 102 46
  • Sweden

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
5M0BDB (Deutsche Boerse AG)YesClass B SharesDEEURMay 2017
0RPSLSE (London Stock Exchange)YesClass B SharesGBSEKMay 2017
MCOV BOM (OMX Nordic Exchange Stockholm)YesClass B SharesSESEKMay 2017
MCOVBSBATS-CHIXE (BATS 'Chi-X Europe')YesClass B SharesGBSEKMay 2017
MCVE.FOTCPK (Pink Sheets LLC)YesClass B SharesUSUSDMay 2017
MCVE.YOTCPK (Pink Sheets LLC)UNSPONSRED ADSUSUSDOct 2018

Biography

Medicover AB (publ) provides healthcare and diagnostic services in Germany, Romania, Ukraine, Poland, Belarus, Moldova, Serbia, Turkey, Georgia, Bulgaria, Sweden, India, and Hungary. The company operates i ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/27 03:55
End of Day Share Price2020/09/25 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.