M1 Kliniken AG (M12) Fair Value & Analysis
Healthcare · DE · Market cap €345M
Fair value as of: Jul 19, 2026
From 26 valuation models · updated 22 days ago
Share price +3.9% over the past month.
A strong business, screening 38% undervalued on our models.
What matters now
- The rarer combination: high quality (75/100) AND below fair value. That earns a closer look rather than a quick verdict.
- The price is below even our cautious bear case (€19.45). The market is more pessimistic than our downside scenario.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.
How to read this chart
60‑month range €3.33 – €19.24 · fair‑value band €19.45 – €32.41 · the €18.80 price screens below the €25.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.
Analysis
M1 Kliniken AG (M12) currently trades at €18.80, while our model-based Fair Value estimate is €25.93, implying the stock looks roughly 37.9% undervalued today. The Quality Score stands at 75/100 (high quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.
Over the trailing twelve months, M1 Kliniken AG generated revenue of €364M at a net margin of 6.1%. Revenue grew 5.4% year over year. It earns a return on equity of 17.0%. The balance sheet holds a net cash position of €27.5M. Fundamentals as of Jul 19, 2026
Our scenario range runs from €19.45 (bear case) to €32.41 (bull case); at €18.80, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 5% below its 52-week high and 52% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 2% fair-value upside, at 38%, M12 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models (€44.82) versus Asset-Based (€4.28). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 74 · Market factors (momentum, volatility) 68
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
M1 Kliniken AG, together with its subsidiaries, provides aesthetic medicine and plastic surgery services in Germany, Austria, the Netherlands, Switzerland, Croatia, Hungary, Bulgaria, and Romania. It operates through Beauty and Trade segments.
Full company description
M1 Kliniken AG, together with its subsidiaries, provides aesthetic medicine and plastic surgery services in Germany, Austria, the Netherlands, Switzerland, Croatia, Hungary, Bulgaria, and Romania. It operates through Beauty and Trade segments. The Beauty segment provides aesthetic surgery services, such as breast augmentation, eyelid lifts, and liposuction; and other aesthetic medical treatment services, including injections with hyaluronic acid and botulinum toxin. This segment also manages a private clinic for plastic and aesthetic surgery; and medical specialist centers for aesthetic and plastic medicine under the Schlossklinik and M1 Med Beauty names. The Trade segment sells pharmaceuticals and medical products for various therapeutic areas of oncology, HIV/AIDS, neurology, rheumatology, other chronic diseases, and aesthetic medicine. The company was incorporated in 2007 and is based in Berlin, Germany. M1 Kliniken AG is a subsidiary of MPH Health Care AG.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
M1 Kliniken AG reported revenue of €364M in FY2025 versus €315M in FY2021, a compound +3.7%/yr. Reported net income was €22.1M in FY2025, compounding +25.6%/yr from FY2021.
of which total revenue +30.3 pp · buybacks/dilution −3.2 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
Watch M12: get an alert when its fair value changes →
Peer Group
Medical Distribution · 81 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Medical Distribution median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Medical Distribution stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| McKesson Corporation MCK | $805.96 | $819.31 | +2% |
| Cencora, Inc COR | $303.44 | $175.74 | -42% |
| Cardinal Health, Inc CAH | $224.94 | $141.77 | -37% |
| Henry Schein, Inc HSIC | $87.82 | $74.67 | -15% |
| Shanghai Pharmaceuticals Holding 601607 | ¥16.70 | ¥33.96 | +103% |
| Sinopharm Group 1099 | HK$16.74 | HK$61.33 | +266% |
| Galenica AG GALE | CHF 87.05 | CHF 61.79 | -29% |
| Guangzhou Baiyunshan Pharmaceutical Holdings 600332 | ¥21.50 | ¥28.65 | +33% |
| Jointown Pharmaceutical Group 600998 | ¥4.99 | ¥9.84 | +97% |
| Asker Healthcare Group ASKER | kr 79.45 | kr 25.69 | -68% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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