Company Valuation: M1 Kliniken AG

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 181.5 139.3 168.3 205.1 308 352.5
Change - -23.23% 20.8% 21.86% 50.16% 14.46%
Enterprise Value (EV) 1 186.5 116.4 140 198.6 307.4 320.8
Change - -37.55% 20.27% 41.79% 54.79% 4.37%
P/E Ratio 25.2x 15.6x 38.4x 20.8x 19.5x 15.9x
PBR 2x 1.47x 1.16x 1.81x 2.95x 2.96x
PEG - 0.5x -0.8x 0x 0.3x 0.4x
Capitalization / Revenue 1.14x 0.44x 0.59x 0.65x 0.91x 0.97x
EV / Revenue 1.17x 0.37x 0.49x 0.63x 0.91x 0.88x
EV / EBITDA 34.4x 8.24x 13.2x 11.1x 11.2x 9.07x
EV / EBIT 45.5x 9.59x 15.7x 13.6x 11.8x 9.38x
EV / FCF -7.59x 3.28x 8.28x 42.9x 13.1x 8.83x
FCF Yield -13.2% 30.5% 12.1% 2.33% 7.63% 11.3%
Dividend per Share 2 - - - 0.5 0.5 1.2
Rate of return - - - 4.46% 3.01% 6.32%
EPS 2 0.3672 0.4793 0.2357 0.5372 0.853 1.193
Distribution rate - - - 93.1% 58.6% 101%
Net sales 1 159.6 314.6 285.3 316.3 339.2 364.3
EBITDA 1 5.423 14.13 10.6 17.93 27.45 35.38
EBIT 1 4.101 12.14 8.945 14.64 26.05 34.19
Net income 1 6.823 8.905 4.317 10.27 16.02 22.13
Net Debt 1 4.955 -22.91 -28.29 -6.561 -0.6456 -31.74
Reference price 2 9.24 7.50 9.06 11.20 16.60 19.00
Nbr of stocks (in thousands) 19,643 18,580 18,580 18,315 18,555 18,555
Announcement Date 5/27/21 5/20/22 6/13/23 5/27/24 6/5/25 5/20/26
1EUR in Million2EUR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 389M
33.52x3.19x14.32x1.35% 18.82B
64.02x5.05x34.2x0.28% 12.81B
20.33x2.9x10.35x2.09% 11.32B
16.66x1.97x9.25x0.74% 10.25B
21.43x1.75x14.57x0.17% 8.79B
17.41x2.55x10.41x4.64% 8.69B
69.75x8.37x36.44x0.12% 7.84B
11.82x1.05x6.38x2.21% 6.38B
29.21x0.81x6.73x2.21% 6.2B
Average 31.57x 3.07x 15.85x 1.53% 9.15B
Weighted average by Cap. 32.87x 3.21x 16.53x 1.44%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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