MPH Health Care AG

93M1.DE

Drug Manufacturers - Specialty & Generic · Financial Services

Also trades as: 0W1Q.L

Price

€23.90

+0.10 (+0.42%)

Market Cap

€102.3M

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Strong

Growth

Mixed

Cash Flow

Weak

Stability

Exceptional

Valuation

Strong

Dividends

Exceptional

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Winston Score History

The full picture

MPH Health Care AG is a German healthcare holding company that invests in and manages businesses across the pharmaceutical and medical sectors. Its portfolio includes stakes in specialty drug companies and healthcare service providers, with end customers ranging from hospitals and pharmacies to individual patients. The company operates primarily in the German-speaking European market.

MPH generates revenue mainly through dividends, management fees, and profit distributions from its subsidiary and portfolio companies, rather than selling products directly to consumers. It is a small-cap firm with a market capitalization of around $0.1 billion, and its 100% gross margin reflects its holding-company structure where costs sit at the operating level of its investees. The key growth driver is its ability to identify and acquire undervalued healthcare assets in a fragmented European market, while the main risk is concentration — if one or two portfolio companies underperform, it can meaningfully hurt overall results.

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

+559.8% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+340.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

60.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€258M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Strong grower

MPH Health Care AG is growing revenue at 560% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

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.

Share count broadly stable

−0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 4.3M (2021) → 4.3M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

30.0%

Excellent — 30.0% operating margin

Return on the money invested

ROCE

13.6%

Good — 13.6% 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

>+1,000%

Fast-growing sales (>+1,000% YoY)

Profit growth

EPS YoY

-8.5%

Earnings shrinking (-8.5% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

25%

Weak — only 25% of profit becomes cash

Spare cash per sale

FCF Margin

0.1%

Thin free cash flow (0.1%)

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

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Stability

What it owes vs what it owns

Debt / Equity

0.05

Conservative — low debt load (0.05)

Covers its interest

Interest Cover

65.61x

Comfortably covers interest (65.6x)

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

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Valuation

Price vs profit

P/E Ratio (TTM)

3.5x

Attractive valuation — P/E 3.5

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

+0.7

GROWING

Earnings roughly flat

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Dividends

Dividend

Dividend Yield

20.75%

Healthy income — 20.75% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

+1257.1%

Dividend growing fast (1257.1% YoY)

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