CompuGroup Medical SE & Co. KGaA

0MSD.L

Software - Infrastructure · Technology

Exchange

London Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Dec 31, 2023

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Exceptional

Stability

Strong

Valuation

Weak

Dividends

Weak

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Winston Score History

The full picture

CompuGroup Medical (CGM) makes software for doctors, dentists, pharmacies, and hospitals. Its tools help healthcare workers manage patient records, schedule appointments, handle billing, and share medical information digitally. The company is one of the largest dedicated healthcare IT software providers in Europe.

CGM earns most of its revenue through software licenses, subscriptions, and maintenance contracts paid by healthcare practices and institutions. It operates primarily in Germany and across Europe, with additional presence in the United States and other markets, and generates roughly €1 billion in annual revenue. Its large installed base of long-term customers creates switching costs that make it difficult for rivals to take market share. The key growth driver is the ongoing push by governments across Europe to digitize healthcare records and connect medical providers through electronic health networks, though slow regulatory rollouts and rising competition from larger technology companies remain meaningful risks to its expansion.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-5.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-215.4% YoY

YoY Growth Rate

Earnings declining

Insider Activity

100.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

£97M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

CompuGroup Medical SE & Co. KGaA's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

27.2%

Modest — 27.2% gross margin

Profit after running costs

Operating Margin

2.1%

Thin — 2.1% operating margin

Return on the money invested

ROCE

8.6%

Below par — 8.6% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+4.5%

Slow sales growth (+4.5% YoY)

Profit growth

EPS YoY

-36.4%

Earnings shrinking (-36.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

391%

Turns 391% of profit into real cash

Spare cash per sale

FCF Margin

13.1%

Converts sales into free cash efficiently (13.1%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

1.12

Elevated debt (1.12)

Covers its interest

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

33.8x

no trend

Pricey — P/E 33.8

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

0.22%

no trend

Small dividend — 0.22% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+2.5%

no trend

Dividend flat

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