Medicover AB (MCOV-B) Fair Value & Analysis
Healthcare · SE · Market cap 34.6B SEK (≈ $3.6B) · ISIN SE0009778848
What is Medicover AB really worth?
A solid business, but trading 72% above our fair value of kr 140.01.
Strengths
Risks
For context
Fair value as of: Aug 30, 2026
From 24 valuation models · updated 6 days ago
Fair value updated Aug 30, 2026, revised from kr 138.72 to kr 140.01 (+0.9%) since Aug 13, 2026. Share price +8.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (kr 184.71). The favourable scenario is already priced in.
- Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (kr 95.31 to kr 184.71) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 30, 2026.
How to read this chart
60‑month range kr 108.83 – kr 355.04 · fair‑value band kr 95.31 – kr 184.71 · the kr 241.50 price screens above the kr 140.01 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 30, 2026.
Analysis
Medicover AB (MCOV-B) currently trades at kr 241.50, while our model-based Fair Value estimate is kr 140.01, implying the stock looks roughly 72.5% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of kr 20.95 per share, and 0 of the 24 models we run sit above the kr 241.50 price. Bear case: the Growth DCF group reads lowest at kr 18.41, and 24 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Medicover AB generated revenue of 2.4B SEK at a net margin of 3.3%. Revenue grew 8.0% year over year. It earns a return on equity of 13.9%. Net debt stands at 1.4B SEK. Fundamentals as of Aug 30, 2026
Our scenario range runs from kr 95.31 (bear case) to kr 184.71 (bull case); at kr 241.50, the current price sits above 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 17% below its 52-week high and 36% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −42%, MCOV-B screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 3.76 per share, which is 2.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: DCF Models (kr 20.95) versus Asset-Based (kr 2.36). Highest evidence: FCF DCF (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 30, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 46
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Medicover AB (publ) provides healthcare and diagnostic services in Poland, Sweden, and internationally. The company operates through two segments: Healthcare Services and Diagnostic Services.
Full company description
Medicover AB (publ) provides healthcare and diagnostic services in Poland, Sweden, and internationally. The company operates through two segments: Healthcare Services and Diagnostic Services. Its Healthcare Services include outpatient and inpatient care; dental care, mental health care, orthopedics, preventive plans and sports, and wellness; other services, including non-medical related services, such as sports memberships, benefit cards, and optics, as well as wellness; hospital care; and preventive care services. The company's Diagnostic Services comprise 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. It serves corporate, individuals, and public sector clients. Medicover AB (publ) was founded in 1995 and is headquartered in Stockholm, Sweden.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Medicover AB reported revenue of €2.4B in FY2025 versus €1.4B in FY2021, a compound +14.6%/yr. Reported net income was €77.5M in FY2025, compounding −6.6%/yr from FY2021.
of which total revenue +19.2 % · buybacks/dilution −2.4 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
MCOV-B screens 72% overvalued. Compare with HCA Healthcare, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- KKR to Acquire Leading Multi-Specialty Healthcare Provider Medicover India
- Medicover AB (FRA:5M0B) Q2 2026 Earnings Call Highlights: Strong Organic Growth and Strategic ...
- Medicover AB (FRA:5M0B) Q1 2026 Earnings Call Highlights: Strong Organic Growth and Margin ...
- Medicover AB (STU:5M0B) Q4 2025 Earnings Call Highlights: Strong Growth and Strategic Challenges
Peer Group
Medical Care Facilities · 257 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 Care Facilities median · lower = cheaper
Strength profile in five axes (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.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Aug 30, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| HCA Healthcare, Inc HCA | $417.82 | $547.67 | +31% |
| Fresenius SE FRE | €45.25 | €32.15 | −29% |
| Dr. Sulaiman Al Habib Medical Services Group 4013 | 241.00 SAR | 112.37 SAR | −53% |
| IHH Healthcare Berhad, an investment holding company, Q0F | 2.67 SGD | 1.44 SGD | −46% |
| Tenet Healthcare Corporation THC | $266.80 | $330.25 | +24% |
| DaVita Inc DVA | $180.68 | $186.49 | +3% |
| Apollo Hospitals Enterprise Limited APOLLOHOSP | ₹8,818 | ₹2,955 | −66% |
| Fresenius Medical Care AG FME | €39.92 | €71.28 | +79% |
| Aier Eye Hospital Group 300015 | ¥8.25 | ¥7.67 | −7% |
| Max Healthcare Institute Limited MAXHEALTH | ₹1,005 | ₹284.87 | −72% |
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