WinstonWınston
Back
Stock

Medicover AB (publ)

MCOV-B.ST
55
Medical - Care Facilities · Healthcare
Also trades as: 0RPS.L GBP 2.64 (+1.15%)
Price
kr 263.50
+3.50 (+1.35%)
Market Cap
kr 39.83B
Exchange
Stockholm Stock Exchange
Winston Score
55
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Oct 10, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
11/30
Growth
Strong
15/20
Cash Flow
Strong
8/10
Stability
Mixed
4/10
Valuation
Good
6/10
Ownership
Good
10/15
Dividends
Weak
1/5

55 of 100 counted points = Winston Score 55.

Track this stock — start free trial

Share count rising — dilution

+1.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 148.4M (2021) → 151.0M (2025)

§Winston Score History

The full picture

Medicover is a healthcare company that runs hospitals, clinics, and diagnostic labs across Europe and India. It serves everyday patients who need doctor visits, medical tests, blood work, and hospital care. The company operates under the Medicover brand and is one of the larger private healthcare networks in Central and Eastern Europe.

Medicover makes money by charging patients and insurance companies for medical services and lab tests. It operates in over 15 countries, with a strong presence in Poland, Germany, Romania, and India, and generates roughly €1.8 billion in annual revenue. Its main competitive advantage is its dense network of clinics and labs, which is hard and expensive for new competitors to replicate. The key growth driver is rising demand for private healthcare in emerging European markets, where public health systems are often overcrowded. The main risk is that thin operating margins leave little room for error if costs rise or patient volumes slow.

Growth Profile

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

Revenue Growth

+7.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+23.1% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

€0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

12.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€93M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth context

Medicover AB (publ) is growing revenue at 7% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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
24.0%
Thin — 24.0% gross margin
Profit after running costs
Operating Margin
8.0%
Modest — 8.0% operating margin
Return on the money invested
ROCE
12.3%
Good — 12.3% return on capital

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

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
+9.6%
Steady sales growth (+9.6% YoY)
Profit growth
EPS YoY
+94.4%
Earnings growing fast (+94.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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
394%
Turns 394% of profit into real cash
Spare cash per sale
FCF Margin
7.1%
Modest free cash flow (7.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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
1.68
Elevated debt (1.68)
Covers its interest
Interest Cover
2.69x
Tight — interest eats into profit (2.7x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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)
42.0x
Pricey — P/E 42.0

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year
P/E vs Forward
+21.0
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (42.0 → 21.0)

Full breakdown available with your free trial

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

Try free

Dividends

Dividend
Dividend Yield
0.85%
Small dividend — 0.85% yield

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

Dividend record
Dividend Growth
N/A
Data not available

Full breakdown available with your free trial

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

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