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MARE ENGINEERING GROUP SPA (MARE.MI) Stock Fundamental Analysis

BIT:MARE - Euronext Milan - IT0005588626 - Common Stock - Currency: EUR

3.26  -0.1 (-2.98%)

Fundamental Rating

4

Taking everything into account, MARE scores 4 out of 10 in our fundamental rating. MARE was compared to 28 industry peers in the Professional Services industry. While MARE is still in line with the averages on profitability rating, there are concerns on its financial health. MARE is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

MARE had positive earnings in the past year.
MARE.MI Yearly Net Income VS EBIT VS OCF VS FCFMARE.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2021 2022 2023 0 2M -2M 4M -4M 6M -6M

1.2 Ratios

MARE has a Return On Assets (4.12%) which is in line with its industry peers.
Looking at the Return On Equity, with a value of 12.12%, MARE is in the better half of the industry, outperforming 60.71% of the companies in the same industry.
The Return On Invested Capital of MARE (6.21%) is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for MARE is significantly below the industry average of 10.76%.
The last Return On Invested Capital (6.21%) for MARE is above the 3 year average (5.61%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 4.12%
ROE 12.12%
ROIC 6.21%
ROA(3y)4.74%
ROA(5y)N/A
ROE(3y)17.84%
ROE(5y)N/A
ROIC(3y)5.61%
ROIC(5y)N/A
MARE.MI Yearly ROA, ROE, ROICMARE.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2021 2022 2023 5 10 15 20

1.3 Margins

MARE has a better Profit Margin (10.41%) than 85.71% of its industry peers.
With an excellent Operating Margin value of 19.54%, MARE belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
MARE has a better Gross Margin (114.15%) than 100.00% of its industry peers.
Industry RankSector Rank
OM 19.54%
PM (TTM) 10.41%
GM 114.15%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
MARE.MI Yearly Profit, Operating, Gross MarginsMARE.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2021 2022 2023 20 40 60 80 100

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), MARE is destroying value.
The number of shares outstanding for MARE remains at a similar level compared to 1 year ago.
Compared to 1 year ago, MARE has a worse debt to assets ratio.
MARE.MI Yearly Shares OutstandingMARE.MI Yearly Shares OutstandingYearly Shares Outstanding 2021 2022 2023 2M 4M 6M 8M 10M
MARE.MI Yearly Total Debt VS Total AssetsMARE.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2021 2022 2023 20M 40M 60M

2.2 Solvency

MARE has an Altman-Z score of 1.92. This is not the best score and indicates that MARE is in the grey zone with still only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 1.92, MARE is doing worse than 64.29% of the companies in the same industry.
MARE has a Debt/Equity ratio of 1.07. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.07, MARE is doing worse than 60.71% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF N/A
Altman-Z 1.92
ROIC/WACC0.93
WACC6.7%
MARE.MI Yearly LT Debt VS Equity VS FCFMARE.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2021 2022 2023 0 5M -5M 10M 15M

2.3 Liquidity

A Current Ratio of 1.46 indicates that MARE should not have too much problems paying its short term obligations.
The Current ratio of MARE (1.46) is better than 89.29% of its industry peers.
MARE has a Quick Ratio of 1.30. This is a normal value and indicates that MARE is financially healthy and should not expect problems in meeting its short term obligations.
MARE has a better Quick ratio (1.30) than 78.57% of its industry peers.
Industry RankSector Rank
Current Ratio 1.46
Quick Ratio 1.3
MARE.MI Yearly Current Assets VS Current LiabilitesMARE.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2021 2022 2023 10M 20M 30M

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4

3. Growth

3.1 Past

The earnings per share for MARE have decreased strongly by -36.57% in the last year.
Looking at the last year, MARE shows a quite strong growth in Revenue. The Revenue has grown by 8.38% in the last year.
EPS 1Y (TTM)-36.57%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%23250%
Revenue 1Y (TTM)8.38%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%6.36%

3.2 Future

Based on estimates for the next years, MARE will show a very strong growth in Earnings Per Share. The EPS will grow by 41.53% on average per year.
The Revenue is expected to grow by 29.25% on average over the next years. This is a very strong growth
EPS Next Y-6.28%
EPS Next 2Y30.02%
EPS Next 3Y37.81%
EPS Next 5Y41.53%
Revenue Next Year67.1%
Revenue Next 2Y45.97%
Revenue Next 3Y34.58%
Revenue Next 5Y29.25%

3.3 Evolution

MARE.MI Yearly Revenue VS EstimatesMARE.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2021 2022 2023 2024 2025 2026 2027 20M 40M 60M
MARE.MI Yearly EPS VS EstimatesMARE.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2024 2025 2026 2027 0.2 0.4 0.6

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6

4. Valuation

4.1 Price/Earnings Ratio

MARE is valuated correctly with a Price/Earnings ratio of 13.58.
82.14% of the companies in the same industry are more expensive than MARE, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 28.05, MARE is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 9.79, the valuation of MARE can be described as reasonable.
Based on the Price/Forward Earnings ratio, MARE is valued cheaply inside the industry as 85.71% of the companies are valued more expensively.
MARE's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 37.67.
Industry RankSector Rank
PE 13.58
Fwd PE 9.79
MARE.MI Price Earnings VS Forward Price EarningsMARE.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, MARE is valued cheaply inside the industry as 82.14% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 5.83
MARE.MI Per share dataMARE.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 1 1.5

4.3 Compensation for Growth

A more expensive valuation may be justified as MARE's earnings are expected to grow with 37.81% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y30.02%
EPS Next 3Y37.81%

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1

5. Dividend

5.1 Amount

With a yearly dividend of 0.52%, MARE is not a good candidate for dividend investing.
MARE's Dividend Yield is slightly below the industry average, which is at 2.93.
With a Dividend Yield of 0.52, MARE pays less dividend than the S&P500 average, which is at 2.32.
Industry RankSector Rank
Dividend Yield 0.52%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

DPN/A
EPS Next 2Y30.02%
EPS Next 3Y37.81%
MARE.MI Yearly Income VS Free CF VS DividendMARE.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2021 2022 2023 0 2M -2M -4M -6M

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MARE ENGINEERING GROUP SPA

BIT:MARE (7/24/2025, 7:00:00 PM)

3.26

-0.1 (-2.98%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryProfessional Services
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst Owners5.62%
Inst Owner ChangeN/A
Ins Owners38.92%
Ins Owner ChangeN/A
Market Cap60.02M
Analysts85
Price Target7.51 (130.37%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.52%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)2.08%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 13.58
Fwd PE 9.79
P/S 2.13
P/FCF N/A
P/OCF N/A
P/B 2.48
P/tB N/A
EV/EBITDA 5.83
EPS(TTM)0.24
EY7.36%
EPS(NY)0.33
Fwd EY10.22%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS1.53
BVpS1.32
TBVpS-0.28
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 4.12%
ROE 12.12%
ROCE 12.43%
ROIC 6.21%
ROICexc 7.08%
ROICexgc 16.83%
OM 19.54%
PM (TTM) 10.41%
GM 114.15%
FCFM N/A
ROA(3y)4.74%
ROA(5y)N/A
ROE(3y)17.84%
ROE(5y)N/A
ROIC(3y)5.61%
ROIC(5y)N/A
ROICexc(3y)6.21%
ROICexc(5y)N/A
ROICexgc(3y)11%
ROICexgc(5y)N/A
ROCE(3y)10.7%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-ScoreN/A
Asset Turnover0.4
Health
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF N/A
Debt/EBITDA 2.51
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.46
Quick Ratio 1.3
Altman-Z 1.92
F-ScoreN/A
WACC6.7%
ROIC/WACC0.93
Cap/Depr(3y)131.41%
Cap/Depr(5y)N/A
Cap/Sales(3y)23.9%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-36.57%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%23250%
EPS Next Y-6.28%
EPS Next 2Y30.02%
EPS Next 3Y37.81%
EPS Next 5Y41.53%
Revenue 1Y (TTM)8.38%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%6.36%
Revenue Next Year67.1%
Revenue Next 2Y45.97%
Revenue Next 3Y34.58%
Revenue Next 5Y29.25%
EBIT growth 1Y26%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year184.76%
EBIT Next 3Y61.51%
EBIT Next 5Y50.34%
FCF growth 1Y57.17%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y119.63%
OCF growth 3YN/A
OCF growth 5YN/A