Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
DocMorris AG is a leading e-commerce pharmacy, telemedicine, and professional healthcare company operating primarily in Germany, the Netherlands, Spain, France, and Switzerland. Formerly known as Zur Rose Group, it was founded in 1993 as a wholesale supplier for self-dispensing doctors and has evolved into a comprehensive digital health provider through strategic acquisitions like DocMorris in 2012 and medpex in 2019. The company offers prescription and over-the-counter medicines, consumer health products, beauty and personal care items, nutritional supplements, and professional services via brands such as DocMorris, medpex, TeleClinic, PromoFarma, and DoctiPharma. Its business segments include mail-order pharmacy operations and wholesale distribution to medical professionals, hospitals, and insurers. Headquartered in Frauenfeld, Switzerland, DocMorris AG employs around 1,600 to 2,283 staff and serves over 10 million active customers, generating significant revenue from Germany. The firm integrates innovative services like AI-powered health assistants, positioning it as a key player in Europe's digital health and pharmaceutical retail landscape.
The business is unprofitable at the operating level (-10.25% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 4.9%, steady but not accelerating.
ROIC dropped from -7.95% to -11.65%, capital efficiency is deteriorating. Negative free cash flow of -CHF 55M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
CHF 1.02B
▲ +4.9% YoY
Net Income (TTM)
-CHF 97M
▼ -218.2% YoY
Op. Margin
-10.25%
▼ -1.7pp YoY
ROIC
-11.65%
▼ -3.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-CHF 55M
▲ +53.5% YoY
Op. Cash Flow (TTM)
-CHF 31M
▲ +65.8% YoY
Net Debt
CHF 217M
Cash & Equiv.
CHF 95M
3Y CAGR: -16.2%
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