OM:MCOV B

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Reasonable growth potential with imperfect 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


Market Performance


7 Day Return

-0.2%

OM:MCOV B

-2.1%

SE Healthcare

-1.3%

SE Market


1 Year Return

1.7%

OM:MCOV B

-13.6%

SE Healthcare

-2.7%

SE Market

MCOV B outperformed the Healthcare industry which returned -13.1% over the past year.

MCOV B outperformed the Market in Sweden which returned -3.1% over the past year.


Share holder returns

MCOV BIndustryMarket
7 Day-0.2%-2.1%-1.3%
30 Day-4.0%-2.6%-4.7%
90 Day0.9%-2.2%-2.9%
1 Year1.7%1.7%-12.5%-13.6%1.4%-2.7%
3 Yearn/a-27.8%-31.1%25.3%6.6%
5 Yearn/a117.8%85.3%44.9%14.3%

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 based on future cash flows and its price relative to the stock market?

34%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Medicover's share price is below the future cash flow value, and at a moderate discount (> 20%).

Medicover's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Medicover is overvalued based on earnings compared to the SE Healthcare industry average.

Medicover is overvalued based on earnings compared to the Sweden market.


Price Based on Expected Growth

Medicover is poor value based on expected growth next year.


Price Based on Value of Assets

Medicover is overvalued based on assets compared to the SE Healthcare industry average.


Next Steps

Future Growth

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

28.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Medicover's revenue is expected to grow by 8.8% yearly, however this is not considered high growth (20% yearly).

Medicover's earnings are expected to grow significantly at over 20% yearly.

Medicover's revenue growth is expected to exceed the Sweden market average.

Medicover's earnings growth is expected to exceed the Sweden market average.

Medicover's earnings growth is expected to exceed the low risk savings rate of 0.4%.


Earnings per Share Growth Estimates


Future Return on Equity

Medicover is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Medicover performed over the past 5 years?

36.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Medicover has delivered over 20% year on year earnings growth in the past 5 years.

Medicover's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Medicover's 1-year earnings growth is negative, it can't be compared to the SE Healthcare industry average.


Return on Equity

Medicover has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Medicover used its assets less efficiently than the SE Healthcare industry average last year based on Return on Assets.


Return on Capital Employed

Medicover's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Medicover's financial position?


Financial Position Analysis

Medicover's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Medicover's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Medicover's level of debt (72.4%) compared to net worth is high (greater than 40%).

Unable to establish if Medicover's debt level has increased without past 5-year debt data.

Debt is well covered by operating cash flow (23.4%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 9.5x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.8x debt.


Next Steps

Dividend

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

0.76%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Unable to evaluate Medicover's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Medicover's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Medicover has not reported any payouts.

Unable to verify if Medicover's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Medicover has not reported any payouts.


Future Payout to Shareholders

No need to calculate the sustainability of Medicover's dividends in 3 years as they are not expected to pay a notable one for Sweden.


Next Steps

Management

What is the CEO of Medicover's salary, the management and board of directors tenure and is there insider trading?

10.1yrs

Average board tenure


CEO

Fredrik Rågmark (56yo)

€3,351,000

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

Fredrik's remuneration is higher than average for companies of similar size in Sweden.

Fredrik's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.


Board Age and Tenure

10.1yrs

Average Tenure

59yo

Average Age

The average tenure for the Medicover board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

Buykr7,790,00021 Feb 19
Robert Jochnick
EntityIndividual
Role
Member of the Board of Directors
Shares100,000
Max Pricekr77.90
Buykr3,326,56119 Feb 19
Robert Jochnick
EntityIndividual
Role
Member of the Board of Directors
Shares44,228
Max Pricekr76.57
Buykr1,283,52019 Feb 19
Fredrik Stenmo
EntityIndividual
Role
Chairman of the Board
Shares16,000
Max Pricekr80.22

Ownership Breakdown


Management Team

  • Joe Ryan (54yo)

    Chief Financial Officer

  • Andrew Vallance-Owen (68yo)

    Chief Marketing Officer

  • Liselotte Bergmark (53yo)

    Group Human Resource Director

    • Tenure: 1.6yrs
  • John Stubbington (51yo)

    Chief Operating Officer of Healthcare Services

    • Tenure: 3.5yrs
  • Jenny Brandt (45yo)

    General Legal Counsel

  • Benedikt Von Braunmühl (51yo)

    Chief Operating Officer of Diagnostic Services

  • Marcin Radziwill

    Chief Executive Officer of Medicover Foundation

  • Anthony Cameron (60yo)

    Chief Information Officer

  • Fredrik Rågmark (56yo)

    CEO & Director

    • Compensation: 3.35m
  • Hanna Bjellquist

    Head of Investor Relations


Board Members

  • Robert Jochnick (79yo)

    Director

    • Tenure: 12.6yrs
    • Compensation: 40.00k
  • Fredrik Stenmo (48yo)

    Chairman

    • Tenure: 2.6yrs
    • Compensation: 75.00k
  • Margareta Nordenvall (65yo)

    Director

    • Tenure: 18.6yrs
    • Compensation: 47.50k
  • Arno Bohn (72yo)

    Director

    • Tenure: 18.6yrs
    • Compensation: 40.00k
  • Fredrik Rågmark (56yo)

    CEO & Director

    • Tenure: 22.6yrs
    • Compensation: 3.35m
  • Michael Flemming (62yo)

    Director

    • Tenure: 4.6yrs
    • Compensation: 55.00k
  • Peder Jochnick (48yo)

    Director

    • Tenure: 7.6yrs
    • Compensation: 40.00k
  • Sonali Chandmal (51yo)

    Director

    • Tenure: 2.6yrs
    • Compensation: 47.50k

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: kr10.960b
  • Shares outstanding: 133.34m
  • Website: Click here

Number of Employees


Location

  • Medicover AB (publ)
  • Riddargatan 12A
  • PO Box 55720
  • Stockholm
  • Stockholm County
  • 114 83
  • 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
MCVE.YOTCPK (Pink Sheets LLC)UNSPONSRED ADSUSUSDOct 2018

Biography

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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/16 22:16
End of Day Share Price2019/08/16 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.