| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 47.64 | 159 |
| Intrinsic value (DCF) | 14.64 | -20 |
| Graham-Dodd Method | n/a | |
| Graham Formula | 12.96 | -29 |
M1 Kliniken AG is a leading provider of aesthetic and plastic surgery services, operating a network of medical centers across Germany, Austria, the Netherlands, Switzerland, the UK, Croatia, and Australia. The company operates through two segments: Beauty, which focuses on aesthetic medicine and cosmetic dermatology, and Trade, which deals in pharmaceutical and medical technology products. M1 Kliniken AG offers specialized treatments through its M1 Med Beauty brand, with 46 specialist centers, and provides pharmaceutical products under the M1 Select brand to doctors, pharmacies, and wholesalers. Additionally, the company engages in real estate management within the healthcare sector. Founded in 2007 and headquartered in Berlin, Germany, M1 Kliniken AG is a subsidiary of MPH Health Care AG. The company's diversified business model positions it as a key player in the growing global aesthetic medicine market, leveraging its strong brand presence and extensive network of clinics.
M1 Kliniken AG presents a compelling investment opportunity in the rapidly expanding aesthetic and plastic surgery market. With a market cap of approximately €286 million and a steady revenue stream of €316 million in FY 2023, the company demonstrates financial stability. The diluted EPS of €0.54 and a dividend per share of €0.50 indicate shareholder value. However, the net income of €10.3 million suggests modest profitability, and the beta of 0.902 indicates lower volatility relative to the market. The company's strong cash position (€22.4 million) and manageable debt (€17 million) provide financial flexibility. Risks include regulatory scrutiny in the aesthetic medicine sector and competition from established players. The company's international footprint and diversified revenue streams mitigate some of these risks, making it an attractive option for investors seeking exposure to the healthcare and aesthetic medicine sectors.
M1 Kliniken AG holds a competitive edge in the aesthetic and plastic surgery market through its extensive network of clinics and strong brand recognition under the M1 Med Beauty and M1 Select brands. The company's dual-segment approach—combining clinical services with pharmaceutical trade—allows for diversified revenue streams and cross-selling opportunities. Its international presence across Europe and Australia provides geographic diversification, reducing reliance on any single market. However, the aesthetic medicine sector is highly competitive, with low barriers to entry for new clinics and increasing price sensitivity among consumers. M1 Kliniken's competitive advantage lies in its integrated model, combining high-quality medical services with proprietary pharmaceutical products. The company's real estate investments in healthcare further bolster its stability. Challenges include maintaining margins in the face of rising operational costs and differentiating its services in a crowded market. The company's subsidiary status under MPH Health Care AG provides potential access to additional resources but may also limit strategic flexibility.