Medicover AB (publ) provides diagnostic and healthcare services in Germany, Romania, Ukraine, Poland, Belarus, Moldova, Serbia, Turkey, Georgia, Bulgaria, India, and Hungary.
The last earnings update was 17 days ago.
Discounted Cash Flow Calculation for OTCPK:MCVE.Y using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for
is arrived at by discounting future cash flows to their present value using the 2 stage method.
We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
OTCPK:MCVE.Y DCF 1st Stage: Next 10 year cash flow forecast
Amount off the current price
is available for.
Share price is
vs Future cash flow value of
Current Discount Checks
to be considered undervalued it must be available for at least 20% below the
current price. Less than 40% is even better.
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 RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.
The amount the stock market is willing to pay for
is considered below, and whether this is a fair price.
Price based on past earnings
Medicover's earnings available for a low price, and how does
this compare to other companies in the same industry?
Medicover's earnings are expected to grow significantly at over 20% yearly.
Medicover's revenue is expected to grow by 9.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can
be gauged below. We look back 3 years and see if they were any good at
predicting what actually occurred. We also show the highest and lowest estimates
looking forward to see if there is a wide range.
Medicover's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent
earnings report. Some checks require at least 3 or 5 years worth of data.
has a total score of
1/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Management is one of the most important areas of a company. We look at
unreasonable CEO compensation, how long the team and board of directors have
been around for and insider trading.
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 AB. From 1995 to 2001, Mr. Rågmark served as the Chief Executive Officer and Managing Director at Oresa (Oresa Ventures) from 1995 to 2001. He served as a Business Development Manager at Oriflame Eastern Europe. Mr. Rågmark has been a Director of Medicover AB (publ) since 1997. He served as a Member of Advisory Board of Oresa. He served as a Director of Oresa. Mr. Rågmark holds B.A. in Economics from Stockholm School of Economics and a Master of Law from University of Stockholm.
Fredrik's compensation has been consistent with company performance over the past year.
Fredrik's remuneration is lower than average for companies of similar size in United States of America.
CEO & Director
Chief Financial Officer
Chief Information Officer
Head of Investor Relations
General Legal Counsel
Chief Marketing Officer
Group Human Resource Director
Chief Operating Officer of Healthcare Services
Benedikt Von Braunmühl
Chief Operating Officer of Diagnostic Services
Chief Executive Officer of Medicover Foundation
Board of Directors Tenure
Average tenure and age of the
board of directors in years:
The tenure for the Medicover board of directors is about average.
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 divisions, Diagnostic Services and Healthcare Services. Its diagnostic services consist of various tests, including allergy and autoimmune diagnostics, bacteriology, parasitology, biochemistry and immunochemistry, blood group diagnostics/transfusion medicine, tumour markers, clinical chemistry, cytology, haematology, histopathology, human genetics, hygiene, immunology and immunochemistry, infectious diseases, microbiology, molecular biology, and pharmacology/toxicology. The company offers outpatient and inpatient healthcare services, including fertility treatment, dental, elderly care, eye care, and skin and wellness services, as well as fitness and pharmacy solutions. It operates a network 95 clinical laboratories and 570 blood-drawing points in 10 countries; and 108 medical clinics, 23 fertility clinics, 17 hospitals, and 26 dental clinics. The company serves corporate and private customers, and patients. Medicover AB (publ) was founded in 1995 and is headquartered in Stockholm, Sweden.
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