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Medicover

Medicover

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Financials

EURm 2025 2026e 2027e
Sales 2378,1 2605,36 2903,94
Sales growth (%) 13,7 9,6 11,5
EBITDA 371 425 494
EBITDA margin (%) 15,6 16,3 17
EBIT adj. 156 192 238
EBIT adj. margin (%) 6,5 7,4 8,2
Pretax profit 98 127 176
EPS 0,51 0,63 0,86
EPS growth (%) N/A 22,2 36,8
EPS adj. 0,58 0,7 1
Dividend per share 0,2 0,23 0,28
EV/EBITDA (x) 11,9 10,3 8,7
EV/EBIT adj. (x) 28,3 22,8 18,1
P/E (x) 39,16 32,05 23,43
P/E adj. (x) 34,8 28,8 20
EV/sales (x) 1,85 1,68 1,49
FCF yield (%) 0,5 5,5 7,2
Le. adj. FCF yld. (%) -2,3 2,6 4,3
Dividend yield (%) 1 1,2 1,4
Net IB debt/EBITDA (x) 3,6 3,1 2,5
Le. adj. ND/EBITDA (x) 2,9 2,3 1,6
EURm 2025 2026e 2027e
Sales 2378,1 2605,36 2903,94
COGS -1827 -2060 -2420
Gross profit 551 546 484
Other operating items -180 -121 10
EBITDA 371 425 494
Depreciation and amortisation -296 -293 -288
Depreciation on leased assets -96 -99 -94
EBITA 170,6 206,76 268,22
Operating EO items 0 0 0
Impairment and amortisation charges -15 -15 -30
EBIT 155,7 191,96 238,22
Net financial items -59 -65 -62
Pretax profit 98 127 176
Tax -26 -34 -47
Net profit 73 93 130
Minority interest 5 2 0
Net profit discontinued 0 0 0
Net profit to shareholders 78 95 130
EPS 0,51 0,63 0,86
EPS adj. 0,58 0,7 1
Total extraordinary items after tax 1 0 0
Leasing payments -96 -99 -94
Tax rate (%) 26,1 26,8 26,5
Gross margin (%) 23,2 21 16,7
EBITDA margin (%) 15,6 16,3 17
EBITA margin (%) 7,2 7,9 9,2
EBIT margin (%) 6,5 7,4 8,2
Pre-tax margin (%) 4,1 4,9 6,1
Net margin (%) 3,1 3,6 4,5
Sales growth (%) 13,7 9,6 11,5
EBITDA growth (%) 30,2 14,5 16,4
EBITA growth (%) 62,9 21,2 29,7
EBIT growth (%) N/A 23,3 24,1
Net profit growth (%) 397,9 28,2 39
EPS growth (%) N/A 22,2 36,8
Profitability N/A N/A N/A
Year N/A N/A N/A
ROE (%) 15,5 16,8 20,2
ROE adj. (%) 18,3 19,5 24,9
ROCE (%) 8,5 9,6 11,5
ROCE adj. (%) 9,2 10,3 13
ROIC (%) 7,2 7,9 10,2
ROIC adj. (%) 7,2 7,9 10,2
Adj. earnings numbers N/A N/A N/A
EBITDA adj. 371 425 494
EBITDA adj. margin (%) 15,6 16,3 17
EBITDA lease adj. 275 326 400
EBITDA lease adj. margin (%) 11,6 12,5 13,8
EBITA adj. 171 207 268
EBITA adj. margin (%) 7,2 7,9 9,2
EBIT adj. 156 192 238
EBIT adj. margin (%) 6,5 7,4 8,2
Pretax profit Adj. 112 142 206
Net profit Adj. 86 108 160
Net profit to shareholders adj. 91 109 160
Net adj. margin (%) 3,6 4,1 5,5
EURm 2025 2026e 2027e
EBITDA 371 425 494
Goodwill 655 661 661
Net financial items -59 -65 -62
Other intangible assets 158 202 253
Paid tax -26 -34 -47
Tangible fixed assets 528 499 480
Non-cash items 50 10 0
Right-of-use asset 521 503 496
Cash flow before change in WC 337 336 386
Other Fixed Assets All 62 70 70
Change in working capital 7 -30 -5
Fixed assets 1924 1935 1961
Operating cash flow 344 306 380
Inventories 67 85 90
Capex tangible fixed assets -79 -69 -81
Receivables 341 355 378
Capex intangible fixed assets -79 -69 -81
Other current assets 6 5 6
Acquisitions and Disposals -173 -1 0
Cash and liquid assets 83 82 138
Free cash flow 14 166 218
Total assets 2421 2463 2572
Dividend paid -23 -27 -35
Shareholders equity 533 593 687
Share issues and buybacks -8 0 0
Minority 12 19 19
Leasing liability amortisation -85 -87 -87
Total equity 545 611 706
Other changes in net debt -71 -25 -32
Long-term debt 621 598 558
Pension debt 0 0 0
Convertible debt 0 0 0
Leasing liability 559 579 611
Total other long-term liabilities 73 73 73
Short-term debt 260 237 237
Accounts payable 311 301 319
Other current liabilities 52 64 68
Total liabilities and equity 2421 2463 2572
Net IB debt 1342 1315 1252
Net IB debt excl. pension debt 1342 1315 1252
Net IB debt excl. leasing 783 737 641
Capital employed 1985 2026 2112
Capital invested 1887 1927 1957
Working capital 51 81 86
Market cap. diluted (m) 3035 3035 3035
Net IB debt adj. 1357 1332 1268
Market value of minority 12 19 19
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity N/A N/A N/A
EV 4404 4385 4322
Total assets turnover (%) 104,3 106,7 115,3
Working capital/sales (%) 2,3 2,5 2,9
Year N/A N/A N/A
Financial risk and debt service N/A N/A N/A
Net debt/equity (%) 246,3 215,1 177,3
Net debt / market cap (%) 44,2 43,3 41,2
Equity ratio (%) 22,5 24,8 27,4
Net IB debt adj. / equity (%) 249,1 217,9 179,7
Current ratio 0,8 0,88 0,98
EBITDA/net interest 6,3 6,6 8
Net IB debt/EBITDA (x) 3,6 3,1 2,5
Net IB debt/EBITDA lease adj. (x) 2,9 2,3 1,6
Interest coverage 2,9 3,2 4,3
EURm 2025 2026e 2027e
Shares outstanding adj. 151 151 151
Diluted shares adj. 151 151 151
EPS 0,51 0,63 0,86
Dividend per share 0,2 0,23 0,28
EPS adj. 0,58 0,7 1
BVPS 3,53 3,93 4,55
BVPS adj. -1,86 -1,79 -1,5
Net IB debt/share 8,99 8,82 8,4
Share price 221,5 221,5 221,5
Market cap. (m) 3035 3035 3035
P/E (x) 39,16 32,05 23,43
EV/sales (x) 1,85 1,68 1,49
EV/EBITDA (x) 11,9 10,3 8,7
EV/EBITA (x) 25,8 21,2 16,1
EV/EBIT (x) 28,3 22,8 18,1
Dividend yield (%) 1 1,2 1,4
FCF yield (%) 0,5 5,5 7,2
Le. adj. FCF yld. (%) -2,3 2,6 4,3
P/BVPS (x) 5,7 5,12 4,41
P/BVPS adj. (x) -24,86 -44,56 114,89
P/E adj. (x) 34,8 28,8 20
EV/EBITDA adj. (x) 11,9 10,3 8,7
EV/EBITA adj. (x) 25,8 21,2 16,1
EV/EBIT adj. (x) 28,3 22,8 18,1
EV/CE (x) 2,2 2,2 2
Year N/A N/A N/A
Investment ratios N/A N/A N/A
Capex/sales (%) -6,6 -5,3 -5,6
Capex/depreciation 0,8 0,7 0,8
Capex tangibles / tangible fixed assets 14,9 13,9 16,9
Capex intangibles / definite intangibles N/A N/A N/A
Depreciation on intang / def. intang N/A N/A N/A
Depreciation on tangibles / tangibles 37,95 39,01 40,39

Key Figure Counter

It is not always easy to generate comparative valuations. Therefore, in order to make it easier for you as an investor, we have created this key figure calculator. Enter share price in the field below and then select the year in which you want to retrieve the financial data.

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P/E

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A common valuation multiple, the share price is divided by earnings per share.

P/E ratio stands for Price and Earnings. By dividing a company's market cap to its earnings, investors get a key ratio which they are able to compare between different companies. The ratio can either be calculated on historical or forward-looking numbers. 

It is important to notice that earnings are calculated after taxes, which mean that they can vary between companies due to different accounting standards.

258,2

EV/EBIT

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EV stands for Enterprise Value and is calculated as a company's markets cap in addition to its net debt. The net debt itself is computed through the company's interest-bearing debt minus total cash and cash equivalents. 

EBIT is the Earnings Before Interest and Taxes which is the operating income. This result, in comparison to the P/E ratio, is not affected by any financial items.

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145,7

EV/Sales

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EV stands for Enterprise Value and is calculated as a company's market cap adjusted for its net debt. The net debt itself is computed through the company's interest-bearing debt minus total cash and cash equivalents. S is the company's total sales.

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11,9

P/BVPS

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P/B stands for Price to Book, which is used to compare a share's market cap to its book value. A P/B ratio that is below one is considered to be valued below its assets.

Companies with high return on equity are usually associated with high P/B ratios, and vice versa. 

 

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48,7