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

Europe - Euronext Milan - BIT:MARE - IT0005588626 - Common Stock

3.95 EUR
+0.01 (+0.25%)
Last: 12/16/2025, 7:00:00 PM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to MARE. MARE was compared to 34 industry peers in the Professional Services industry. MARE has a bad profitability rating. Also its financial health evaluation is rather negative. MARE is growing strongly while it is still valued neutral. This is a good combination!


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

MARE had negative earnings in the past year.
MARE had a negative operating cash flow 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 2024 0 2M -2M 4M -4M 6M -6M

1.2 Ratios

MARE has a Return On Assets of -0.46%. This is amonst the worse of the industry: MARE underperforms 82.35% of its industry peers.
The Return On Equity of MARE (-1.25%) is worse than 82.35% of its industry peers.
With a Return On Invested Capital value of 1.22%, MARE is not doing good in the industry: 76.47% of the companies in the same industry are doing better.
MARE had an Average Return On Invested Capital over the past 3 years of 4.62%. This is significantly below the industry average of 12.12%.
Industry RankSector Rank
ROA -0.46%
ROE -1.25%
ROIC 1.22%
ROA(3y)3.94%
ROA(5y)N/A
ROE(3y)12.68%
ROE(5y)N/A
ROIC(3y)4.62%
ROIC(5y)N/A
MARE.MI Yearly ROA, ROE, ROICMARE.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2021 2022 2023 2024 5 10 15 20

1.3 Margins

MARE's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 5.80%, MARE is in line with its industry, outperforming 52.94% of the companies in the same industry.
In the last couple of years the Operating Margin of MARE has declined.
Looking at the Gross Margin, with a value of 109.61%, MARE belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
MARE's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 5.8%
PM (TTM) N/A
GM 109.61%
OM growth 3Y-6.02%
OM growth 5YN/A
PM growth 3Y-20.95%
PM growth 5YN/A
GM growth 3Y-0.19%
GM growth 5YN/A
MARE.MI Yearly Profit, Operating, Gross MarginsMARE.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2021 2022 2023 2024 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.
Compared to 1 year ago, MARE has less shares outstanding
MARE has a better debt/assets ratio than last year.
MARE.MI Yearly Shares OutstandingMARE.MI Yearly Shares OutstandingYearly Shares Outstanding 2021 2022 2023 2024 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 2024 20M 40M 60M 80M

2.2 Solvency

MARE has an Altman-Z score of 1.32. This is a bad value and indicates that MARE is not financially healthy and even has some risk of bankruptcy.
MARE has a Altman-Z score of 1.32. This is amonst the worse of the industry: MARE underperforms 85.29% of its industry peers.
A Debt/Equity ratio of 0.93 indicates that MARE is somewhat dependend on debt financing.
MARE's Debt to Equity ratio of 0.93 is in line compared to the rest of the industry. MARE outperforms 47.06% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.93
Debt/FCF N/A
Altman-Z 1.32
ROIC/WACC0.18
WACC6.78%
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 2024 0 10M 20M 30M 40M

2.3 Liquidity

MARE has a Current Ratio of 1.73. This is a normal value and indicates that MARE is financially healthy and should not expect problems in meeting its short term obligations.
MARE's Current ratio of 1.73 is amongst the best of the industry. MARE outperforms 85.29% of its industry peers.
MARE has a Quick Ratio of 1.32. This is a normal value and indicates that MARE is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of MARE (1.32) is better than 76.47% of its industry peers.
Industry RankSector Rank
Current Ratio 1.73
Quick Ratio 1.32
MARE.MI Yearly Current Assets VS Current LiabilitesMARE.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2021 2022 2023 2024 10M 20M 30M 40M 50M

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7

3. Growth

3.1 Past

The earnings per share for MARE have decreased strongly by -121.36% in the last year.
MARE shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -4.50% yearly.
MARE shows a strong growth in Revenue. In the last year, the Revenue has grown by 35.86%.
MARE shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 19.91% yearly.
EPS 1Y (TTM)-121.36%
EPS 3Y-4.5%
EPS 5YN/A
EPS Q2Q%-435.33%
Revenue 1Y (TTM)35.86%
Revenue growth 3Y19.91%
Revenue growth 5YN/A
Sales Q2Q%50.43%

3.2 Future

The Earnings Per Share is expected to grow by 57.45% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 26.13% on average over the next years. This is a very strong growth
EPS Next Y85.64%
EPS Next 2Y60.63%
EPS Next 3Y57.45%
EPS Next 5YN/A
Revenue Next Year65.48%
Revenue Next 2Y42.25%
Revenue Next 3Y31.73%
Revenue Next 5Y26.13%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
MARE.MI Yearly Revenue VS EstimatesMARE.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2021 2022 2023 2024 2025 2026 2027 2028 20M 40M 60M 80M 100M
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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5

4. Valuation

4.1 Price/Earnings Ratio

MARE reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
The Price/Forward Earnings ratio is 8.29, which indicates a very decent valuation of MARE.
Based on the Price/Forward Earnings ratio, MARE is valued cheaper than 100.00% of the companies in the same industry.
MARE's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 23.83.
Industry RankSector Rank
PE N/A
Fwd PE 8.29
MARE.MI Price Earnings VS Forward Price EarningsMARE.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 -40 -60

4.2 Price Multiples

67.65% of the companies in the same industry are more expensive than MARE, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 8.84
MARE.MI Per share dataMARE.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2

4.3 Compensation for Growth

MARE's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
MARE's earnings are expected to grow with 57.45% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y60.63%
EPS Next 3Y57.45%

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1

5. Dividend

5.1 Amount

MARE has a yearly dividend return of 0.43%, which is pretty low.
MARE's Dividend Yield is slightly below the industry average, which is at 2.40.
Compared to an average S&P500 Dividend Yield of 1.87, MARE's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.43%

5.2 History

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

5.3 Sustainability

DPN/A
EPS Next 2Y60.63%
EPS Next 3Y57.45%
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 2024 0 2M -2M -4M -6M

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MARE ENGINEERING GROUP SPA

BIT:MARE (12/16/2025, 7:00:00 PM)

3.95

+0.01 (+0.25%)

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 Owners7.08%
Inst Owner ChangeN/A
Ins Owners36.5%
Ins Owner ChangeN/A
Market Cap76.39M
Revenue(TTM)38.31M
Net Income(TTM)-612.50K
Analysts85
Price Target8 (102.53%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.43%
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)6.59%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-2.04%
EPS NY rev (3m)2.44%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)12.92%
Revenue NY rev (3m)37.47%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 8.29
P/S 1.99
P/FCF N/A
P/OCF N/A
P/B 1.56
P/tB 7.93
EV/EBITDA 8.84
EPS(TTM)-0.05
EYN/A
EPS(NY)0.48
Fwd EY12.06%
FCF(TTM)-0.93
FCFYN/A
OCF(TTM)-0.02
OCFYN/A
SpS1.98
BVpS2.54
TBVpS0.5
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -0.46%
ROE -1.25%
ROCE 2.51%
ROIC 1.22%
ROICexc 1.35%
ROICexgc 2.27%
OM 5.8%
PM (TTM) N/A
GM 109.61%
FCFM N/A
ROA(3y)3.94%
ROA(5y)N/A
ROE(3y)12.68%
ROE(5y)N/A
ROIC(3y)4.62%
ROIC(5y)N/A
ROICexc(3y)5.12%
ROICexc(5y)N/A
ROICexgc(3y)9.63%
ROICexgc(5y)N/A
ROCE(3y)9.74%
ROCE(5y)N/A
ROICexgc growth 3Y-3.35%
ROICexgc growth 5YN/A
ROICexc growth 3Y-9.14%
ROICexc growth 5YN/A
OM growth 3Y-6.02%
OM growth 5YN/A
PM growth 3Y-20.95%
PM growth 5YN/A
GM growth 3Y-0.19%
GM growth 5YN/A
F-Score2
Asset Turnover0.29
Health
Industry RankSector Rank
Debt/Equity 0.93
Debt/FCF N/A
Debt/EBITDA 4.39
Cap/Depr 217.79%
Cap/Sales 46.29%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.73
Quick Ratio 1.32
Altman-Z 1.32
F-Score2
WACC6.78%
ROIC/WACC0.18
Cap/Depr(3y)105.51%
Cap/Depr(5y)N/A
Cap/Sales(3y)18.95%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-121.36%
EPS 3Y-4.5%
EPS 5YN/A
EPS Q2Q%-435.33%
EPS Next Y85.64%
EPS Next 2Y60.63%
EPS Next 3Y57.45%
EPS Next 5YN/A
Revenue 1Y (TTM)35.86%
Revenue growth 3Y19.91%
Revenue growth 5YN/A
Sales Q2Q%50.43%
Revenue Next Year65.48%
Revenue Next 2Y42.25%
Revenue Next 3Y31.73%
Revenue Next 5Y26.13%
EBIT growth 1Y-59.69%
EBIT growth 3Y12.69%
EBIT growth 5YN/A
EBIT Next Year297.87%
EBIT Next 3Y81.5%
EBIT Next 5Y46.66%
FCF growth 1Y-48.96%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y383.9%
OCF growth 3Y-17.4%
OCF growth 5YN/A

MARE ENGINEERING GROUP SPA / MARE.MI FAQ

What is the ChartMill fundamental rating of MARE ENGINEERING GROUP SPA (MARE.MI) stock?

ChartMill assigns a fundamental rating of 3 / 10 to MARE.MI.


Can you provide the valuation status for MARE ENGINEERING GROUP SPA?

ChartMill assigns a valuation rating of 5 / 10 to MARE ENGINEERING GROUP SPA (MARE.MI). This can be considered as Fairly Valued.


Can you provide the profitability details for MARE ENGINEERING GROUP SPA?

MARE ENGINEERING GROUP SPA (MARE.MI) has a profitability rating of 1 / 10.


Can you provide the financial health for MARE stock?

The financial health rating of MARE ENGINEERING GROUP SPA (MARE.MI) is 3 / 10.