MedCap AB (publ)

MCAP.ST

Asset Management · Healthcare

Exchange

Stockholm Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Strong

Growth

Good

Cash Flow

Exceptional

Stability

Strong

Valuation

Good

Track this stock — start free trial

Winston Score History

The full picture

MedCap AB is a Swedish holding company that owns and operates businesses in the healthcare sector. Its portfolio includes companies that make and sell specialty pharmaceuticals, medical devices, and healthcare services, primarily to hospitals, pharmacies, and care providers in the Nordic region. MedCap focuses on niche healthcare segments where competition is limited and switching costs tend to be high.

The company earns money through the revenues of its subsidiary businesses, which sell products and services directly to healthcare customers rather than through a subscription or licensing model. MedCap operates mainly in Sweden and the broader Nordic market, and its competitive edge comes from owning focused, hard-to-replicate businesses in specialized healthcare niches. The main growth driver is acquiring and developing additional niche healthcare companies, but the key risk is that deal quality and integration execution vary, and overpaying for acquisitions could weigh on long-term returns.

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

+16.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+28.9% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

21.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

kr 288M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

MedCap AB (publ) is a rare growth stock that's already generating positive cash flow while growing at 16%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

59.8%

Premium pricing power — 59.8% gross margin

Profit after running costs

Operating Margin

16.8%

Healthy — 16.8% operating margin

Return on the money invested

ROCE

19.1%

Strong — 19.1% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+18.5%

Fast-growing sales (+18.5% YoY)

Profit growth

EPS YoY

+20.5%

Earnings growing fast (+20.5% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

161%

Turns 161% of profit into real cash

Spare cash per sale

FCF Margin

15.1%

Converts sales into free cash efficiently (15.1%)

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

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

0.13

Conservative — low debt load (0.13)

Covers its interest

Interest Cover

7.00x

Adequate interest coverage (7.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

34.6x

no trend

Pricey — P/E 34.6

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

Cheaper or dearer next year

P/E vs Forward

+16.3

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (34.6 → 18.3)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial