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MD Medical (MDMG) RUB

At a glance: strengths & risks
Revenue growing (+31%)Low leverage (0.0x EBITDA)Margins compressing (33%→31%)

Sector: Healthcare

RU_MDMG

Price chart

1 224.8 RUBDay 5.10%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
1 224.8 RUB · 5.10%
Market cap
92.0 bn RUB

Growth

Δ revenue y/y
32.1%
Δ EBITDA y/y
19.8%

Multiples

P/E (LTM)
8.3x
3y avg: 8.6x
P/B (FY)
2.5x
P/E (ann.)
7.7x
EV/EBITDA (LTM)
7.0x
3y avg: 7.2x
EV/EBITDA (ann.)
6.2x

Cash return

Dividend yield
3.2%
FCF yield (LTM)
5.1%

Value creation

fundamental value/yr, % of market cap
Value created / year

Liquidity

Daily turnover (MOEX)
154.9 mln RUB

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B RUB, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB RUBOperating profitB RUBD&AB RUBEBITDAB RUBNet profitB RUBOperating CFB RUBCapex + M&AB RUBAssetsB RUBEquityB RUBROE (annualized)Net debtB RUBSource
2026-03-31Q1 2026 (3M)PARTIAL11.8
y/y 32.1%
y/y
y/y
y/y
y/y
y/y
y/y
2025-12-31H2 2025 (6M)OK24.2
y/y 39.3%
5.8
y/y 15.8%
1.7
y/y 72.8%
7.5
y/y 23.7%
6.0
y/y 12.9%
8.9-5.249.6
y/y 27.3%
36.7
y/y 19.3%
31.2%0.6Report (PDF)
2025-06-30H1 2025 (6M)OK19.3
y/y 22.2%
4.7
y/y 13.0%
1.2
y/y 24.3%
5.8
y/y 15.1%
5.1
y/y 3.6%
5.1-7.347.2
y/y 1.6%
34.1
y/y 18.6%
-0.2Report (PDF)
2025-03-31Q1 2025 (3M)PARTIAL9.0
y/y
y/y
y/y
y/y
y/y
y/y
y/y
2024-12-31H2 2024 (6M)OK17.4
y/y 17.5%
5.0
y/y 18.0%
1.0
y/y 2.5%
6.0
y/y 16.3%
5.3
y/y 59060.3%
6.2-1.339.0
y/y -5.7%
30.8
y/y -11.0%
34.2%-4.4Report (PDF)
2024-06-30H1 2024 (6M)OK15.8
y/y 22.6%
4.1
y/y 25.9%
0.9
y/y 13.7%
5.1
y/y 23.5%
4.9
y/y
4.9-1.046.4
y/y
28.7
y/y
30.9%-13.2Report (PDF)
2023-12-31H2 2023 (6M)OK14.8
y/y
4.2
y/y
0.9
y/y
5.2
y/y
0.0
y/y
5.01.941.3
y/y
34.6
y/y
-17.7Report (PDF)
2023-06-30H1 2023 (6M)PARTIAL12.9
y/y
3.3
y/y
0.8
y/y
4.1
y/y
0.0
y/y
4.4-1.9
y/y
y/y
-5.8

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₽ mln)

05 00010 00015 00020 00025 0002023 H12023 H22024 H12024 H22025 q12025 q22025 H22026 q1

Year-over-year change

0%10%20%30%40%2023 H12023 H22024 H12024 H22025 q12025 q22025 H22026 q1

Cash flow

FCF (₽ mln)

02 0004 0006 0002023 H12023 H22024 H12024 H22025 q12025 q22025 H22026 q1

Net debt / cash (₽ mln)

-20 000-15 000-10 000-5 00002023 H12023 FY2024 H12024 FY2025 q12025 q22025 q42026 q1

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +19.1%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2025-12-31 vs 2024-12-31)
= (7 466 − 5 971) × 1.78
2 662
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (92 013 + 556) ÷ 13 289
7.0x
3. Target multiple
(Current EV/EBITDA + 6.5) ÷ 2
= (7.0 + 6.5) ÷ 2
6.7x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -5 004 + 4 647 + 0 − 0
-357
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (2 662 × 6.7 + -357) ÷ 92 013
+19.1%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • half-year basis (semi-annual reporter)

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +31% vs +20% the year before — a +11.3 pp move. 3-year CAGR +20%.
revenue growth by year: 2023 +10% · 2024 +20% · 2025 +31%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividend potential

Dividend-model upside: +13%

The payout is forecast from smoothed profit × payout ratio, capped by free cash flow (developers exempt — escrow) and floored at the recent actual dividend (companies hold payouts while profitable). Fair yield = key rate + the historical yield-spread to the rate (so growers that historically traded below the rate score higher). Upside = fair price / current − 1.

1 · Forecast dividend (per policy)
Smoothed net profit (median YTD-ann./LTM/FY)11 bn RUB
Payout ratio50%
Free cash flow (FY, OCF − capex) — not a cap (leverage 0.0x)10 bn RUB
Recent actual dividend (3-yr median)89.00 ₽
= Forecast dividend per share89.00 ₽
2 · Fair yield (spread to key rate)
CBR key rate14.2%
Historical yield spread to rate (3-yr median)-9.8 pp
= Fair dividend yield7.0%
3 · Valuation → upside
Current price1148 ₽
Forecast dividend yield7.8%
Fair price (dividend-based)1292 ₽

Forecast, not investment advice. Earnings annualization and policy assumptions are estimates.

Dividend history

Paid, trailing 12-mo: 89.00 RUB/sh · 7.8%

Pay yearDividend /sh
202647.00 ₽
202564.00 ₽
2024183.00 ₽
20228.55 ₽
202137.00 ₽
202028.30 ₽
201910.65 ₽
20186.00 ₽
Payments by period
PeriodEx-date/sh
2026 q32026-07-1347.00 ₽
2025 q42025-10-1742.00 ₽
2025 q22025-05-1622.00 ₽
2024 q42024-11-2820.00 ₽
2024 q32024-09-0622.00 ₽
2024 q22024-06-19141.00 ₽
2022 q42022-11-038.55 ₽
2021 q32021-09-2218.00 ₽
2021 q22021-05-0319.00 ₽
2020 q32020-09-1628.30 ₽

Dividends

No dividend rows found for this issuer.

Corporate events

29.06.26AGM / Board Решения общих собраний участников (акционеров)
На годовом собрании акционеров Международной Компании Публичное Акционерное Общество «МД Медикал Груп Инвестментс» 25 июня 2026 года было принято решение о выплате дивидендов в размере 47 руб. на акцию по итогам 2025 года, а также утверждено вознаграждение членам Совета директоров в размере до 9,5 млн. руб.
29.06.26Filing Дата определения (фиксации) лиц, имеющих право на осуществление прав по ценным бумагам эмитента
Компания 'МД Медикал Груп Инвестментс' установила дату фиксации владельцев акций для получения дивидендов на 14 июля 2026 года. Акции имеют международный код ISIN RU000A108KL3.
24.06.26Filing Совершение подконтрольной эмитенту организацией существенной сделки
Компания 'МД Медикал Груп Инвестментс' через подконтрольную организацию 'ХАВЕН' совершила существенную сделку по покупке 100% долей в 'Клиник Менеджмент Груп' и 100% акций 'Ильинская больница' за 840,1 млн. руб., что составляет 1,7% от стоимости активов. Общая стоимость сделки составляет 6,37 млрд. руб., что равно 12,84% от стоимости активов.
28.04.26Filing Операционные результаты деятельности эмитента (компаний группы эмитента) (прогнозные, предварительные, фактические)
30.03.26Filing Финансовые результаты деятельности эмитента (компаний группы эмитента) (прогнозные, предварительные, фактические)
МД Медикал Груп Инвестментс опубликовала аудированные консолидированные финансовые результаты за 2025 год по МСФО. Акции компании имеют государственный регистрационный номер 1-01-16802-A и международный код ISIN RU000A108KL3.
18.05.26AGM / BoardРешения совета директоров (наблюдательного совета)
Совет директоров МД Медикал Груп Инвестментс решил провести годовое собрание акционеров 25 июня 2026 года с повесткой, включающей утверждение годового отчета и распределение прибыли. Рекомендовано выплатить дивиденды в размере 47 руб. на акцию с датой определения правообладателей 14 июля 2026 года.

Source: e-disclosure material filings over the last 180 days; ★ — flagged important by the classifier; summaries are automatic.

RU equity fund ownership

Disclosed in the top-10 of 1 of 17 funds, ≈569 млн ₽ combined.

FundManagerWeight≈PositionΔ weight m/mDisclosure
AKME Альфа-Капитал Управляемые акцииАльфа-Капитал4.43%569 млн ₽29.05.2026

Source: monthly fund portfolio disclosures (investfunds); NAV is daily. Disclosures list each fund's top-10 only, so absence does not mean no position. Weight changes mix revaluation with trading. Fund flows and betas live in the fund monitor on the RU region page.

Investment-community mentions

Substantive mentions last 7 days: 0, last 30 days: 4 (3 positive, 1 negative) across tracked channels, broker research and shows. 15 passing mentions (digests, calendars) hidden.

Sources: Telegram channels (bloggers — blue chip, broker research — green), YouTube shows via transcripts (orange). Tone (▲/▼) is an automatic assessment in the stock's context. Quotes are fragmentary; authors' views are not our recommendations.

Reporting forms detected in loaded periods: (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of MD Medical (MDMG) — from primary filings.

Frequently asked questions

What is MD Medical (MDMG)'s P/E ratio?
MD Medical (MDMG) trades at a P/E of 8.3x (price to trailing 12-month earnings).
What is MD Medical (MDMG)'s EV/EBITDA?
MD Medical (MDMG) trades at 7.0x EV/EBITDA.
What is MD Medical (MDMG)'s P/B ratio?
MD Medical (MDMG) trades at a P/B of 2.5x.
What is MD Medical (MDMG)'s dividend yield?
MD Medical (MDMG)'s trailing 12-month dividend yield is 3.2%.
What is MD Medical (MDMG)'s return on equity (ROE)?
MD Medical (MDMG)'s ROE is 32.5%.
What is MD Medical (MDMG)'s market capitalization?
MD Medical (MDMG)'s market cap is 92.0 bn RUB.