Mediclin AG (MED.DE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+1583.0%

€86.68

vs €5.15 price

Levered DCF

€95.76

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.59

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	6.85×	4.65×	-11.74×	18×	127.27×	-20.42×	25.75×	35.63×
P/B	0.71×	0.52×	0.65×	0.82×	1.02×	1.04×	1.28×	1.41×
P/S	0.22×	0.15×	0.18×	0.24×	0.28×	0.28×	0.36×	0.42×
EV / EBITDA	5.01×	4.43×	4.87×	6.38×	5.93×	7.43×	7.68×	8.32×
Gross margin	14.5%	83.2%	81.4%	81.2%	81.9%	82.9%	82.0%	81.5%
Operating margin	4.9%	7.1%	1.7%	2.8%	1.7%	0.0%	3.3%	2.3%
Net margin	3.2%	3.3%	-1.5%	1.3%	0.2%	-1.4%	1.4%	1.2%
Current ratio	1.62×	1.79×	1.75×	1.53×	1.25×	1.19×	1.14×	1.69×
Debt / equity	1.57×	2.09×	2.45×	2.4×	2.4×	2.75×	2.68×	0.4×
Interest coverage	1.85×	2.23×	0.53×	1.84×	1.24×	0.03×	2.05×	4.34×
Dividend yield	1.1%	0.0%	0.0%	0.0%	0.0%	0.0%	1.0%	0.9%
Payout ratio	7.5%	0.0%	0.0%	0.0%	0.0%	0.0%	24.6%	30.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.2%	11.2%	-5.5%	4.5%	0.8%	-5.1%	5.1%	4.0%
Return on invested capital	3.8%	5.4%	1.6%	2.4%	0.9%	0.0%	2.3%	2.6%
Return on assets	2.9%	2.7%	-1.2%	1.0%	0.2%	-1.0%	1.1%	1.7%
Free cash flow yield	29.3%	31.2%	31.5%	5.0%	34.9%	50.4%	10.1%	-6.2%
Earnings yield	14.5%	21.6%	-8.4%	5.5%	0.8%	-4.9%	3.9%	2.9%
Enterprise value	€494.4M	€471.5M	€492.8M	€585.6M	€506.6M	€570.8M	€719.8M	€312.8M
Net debt / EBITDA	3.23×	3.35×	3.6×	4.52×	3.75×	5.03×	5.07×	1.12×
Cash conversion cycle (days)	80	72	62	57	47	42	7	28