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

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

3.49  +0.04 (+1.16%)

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. There are concerns on the financial health of MARE while its profitability can be described as average. MARE has a decent growth rate and is not valued too expensively.


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 64.29% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 6.21%, MARE is in line with its industry, outperforming 50.00% of the companies in the same industry.
MARE had an Average Return On Invested Capital over the past 3 years of 5.61%. This is significantly below the industry average of 11.13%.
The 3 year average ROIC (5.61%) for MARE is below the current ROIC(6.21%), indicating increased profibility in the last year.
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.
MARE's Operating Margin of 19.54% is amongst the best of the industry. MARE outperforms 85.71% of its industry peers.
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

MARE has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it 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

An Altman-Z score of 1.83 indicates that MARE is not a great score, but indicates only limited risk for bankruptcy at the moment.
The Altman-Z score of MARE (1.83) is worse than 64.29% of its industry peers.
MARE has a Debt/Equity ratio of 1.07. This is a high value indicating a heavy dependency on external financing.
MARE has a Debt to Equity ratio of 1.07. This is comparable to the rest of the industry: MARE outperforms 42.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF N/A
Altman-Z 1.83
ROIC/WACC0.91
WACC6.83%
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.
With an excellent Current ratio value of 1.46, MARE belongs to the best of the industry, outperforming 85.71% of the companies in the same industry.
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 Quick ratio of 1.30. This is in the better half of the industry: MARE outperforms 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

MARE is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 41.53% yearly.
Based on estimates for the next years, MARE will show a very strong growth in Revenue. The Revenue will grow by 29.25% on average per year.
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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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 14.54 indicates a correct valuation of MARE.
Compared to the rest of the industry, the Price/Earnings ratio of MARE indicates a somewhat cheap valuation: MARE is cheaper than 78.57% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 24.95. MARE is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 10.48, 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.
When comparing the Price/Forward Earnings ratio of MARE to the average of the S&P500 Index (20.99), we can say MARE is valued rather cheaply.
Industry RankSector Rank
PE 14.54
Fwd PE 10.48
MARE.MI Price Earnings VS Forward Price EarningsMARE.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

MARE's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. MARE is cheaper than 82.14% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 5.14
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 0.28%, MARE is not a good candidate for dividend investing.
The stock price of MARE dropped by -23.63% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
Compared to an average industry Dividend Yield of 2.92, MARE is paying slightly less dividend.
With a Dividend Yield of 0.28, MARE pays less dividend than the S&P500 average, which is at 2.41.
Industry RankSector Rank
Dividend Yield 0.28%

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 (5/12/2025, 7:00:00 PM)

3.49

+0.04 (+1.16%)

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 Owners6.63%
Inst Owner ChangeN/A
Ins Owners47.19%
Ins Owner ChangeN/A
Market Cap52.94M
Analysts85
Price Target7.35 (110.6%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.28%
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)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-41.61%
EPS NY rev (3m)-41.61%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.77%
Revenue NY rev (3m)-0.77%
Valuation
Industry RankSector Rank
PE 14.54
Fwd PE 10.48
P/S 1.88
P/FCF N/A
P/OCF N/A
P/B 2.19
P/tB N/A
EV/EBITDA 5.14
EPS(TTM)0.24
EY6.88%
EPS(NY)0.33
Fwd EY9.54%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS1.86
BVpS1.6
TBVpS-0.34
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 1.83
F-ScoreN/A
WACC6.83%
ROIC/WACC0.91
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