MAREL HF. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 480 ISK | -1.64% |
|
-1.44% | +1.69% |
| Apr. 19 | ETF of the week: Diversifying into frontier markets |  |
| Apr. 05 | JBT Corporation and Marel hf. Announce Management Changes | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 3,434 | 3,773 | 4,466 | 2,435 | 2,364 | 2,424 | - | - |
| Enterprise Value (EV) 1 | 3,532 | 3,978 | 4,665 | 3,252 | 3,155 | 3,109 | 2,985 | 2,815 |
| P/E ratio | 29.7 x | 37.3 x | 46.5 x | 41.7 x | 76.3 x | 29.2 x | 16.1 x | 14 x |
| Yield | 1.23% | 1.08% | 0.86% | 0.48% | - | 0.62% | 2.49% | 2.8% |
| Capitalization / Revenue | 2.68 x | 3.05 x | 3.28 x | 1.43 x | 1.37 x | 1.38 x | 1.3 x | 1.22 x |
| EV / Revenue | 2.75 x | 3.21 x | 3.43 x | 1.9 x | 1.83 x | 1.77 x | 1.6 x | 1.41 x |
| EV / EBITDA | 16 x | 18.7 x | 23.5 x | 18.2 x | 16.5 x | 12.2 x | 9.54 x | 8.09 x |
| EV / FCF | 33.8 x | 31.1 x | 44.3 x | -87.9 x | 60.7 x | 23.7 x | 18.5 x | 14.3 x |
| FCF Yield | 2.96% | 3.22% | 2.26% | -1.14% | 1.65% | 4.22% | 5.42% | 7.02% |
| Price to Book | 3.39 x | 4.06 x | 4.41 x | 2.43 x | 2.32 x | 2.22 x | 1.98 x | 1.81 x |
| Nbr of stocks (in thousands) | 759,881 | 747,927 | 753,989 | 752,702 | 753,951 | 753,950 | - | - |
| Reference price 2 | 4.520 | 5.045 | 5.923 | 3.235 | 3.135 | 3.215 | 3.215 | 3.215 |
| Announcement Date | 2/5/20 | 2/3/21 | 2/2/22 | 2/8/23 | 2/7/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,284 | 1,238 | 1,361 | 1,709 | 1,721 | 1,759 | 1,871 | 1,993 |
| EBITDA 1 | 220.3 | 212.5 | 198.9 | 178.6 | 191.4 | 255.7 | 313 | 348 |
| EBIT 1 | 173.4 | 166.8 | 153.6 | 163.4 | 153.1 | 177.9 | 225.7 | 244.8 |
| Operating Margin | 13.51% | 13.48% | 11.29% | 9.56% | 8.89% | 10.11% | 12.06% | 12.29% |
| Earnings before Tax (EBT) 1 | 141.8 | 131.6 | 120.7 | 75.1 | 36.1 | 99.88 | 174.7 | 232.4 |
| Net income 1 | 110.1 | 102.5 | 96.8 | 58.7 | 31 | 84.96 | 130.9 | 162.3 |
| Net margin | 8.58% | 8.28% | 7.11% | 3.44% | 1.8% | 4.83% | 7% | 8.15% |
| EPS 2 | 0.1520 | 0.1351 | 0.1273 | 0.0775 | 0.0411 | 0.1100 | 0.2000 | 0.2300 |
| Free Cash Flow 1 | 104.6 | 128 | 105.3 | -37 | 52 | 131.1 | 161.8 | 197.5 |
| FCF margin | 8.15% | 10.34% | 7.74% | -2.17% | 3.02% | 7.45% | 8.64% | 9.91% |
| FCF Conversion (EBITDA) | 47.48% | 60.24% | 52.94% | - | 27.17% | 51.27% | 51.68% | 56.75% |
| FCF Conversion (Net income) | 95% | 124.88% | 108.78% | - | 167.74% | 154.32% | 123.57% | 121.69% |
| Dividend per Share 2 | 0.0557 | 0.0545 | 0.0512 | 0.0156 | - | 0.0200 | 0.0800 | 0.0900 |
| Announcement Date | 2/5/20 | 2/3/21 | 2/2/22 | 2/8/23 | 2/7/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 331.9 | 371.6 | 397.3 | 450.6 | 489.2 | 447.4 | 422.4 | 869.8 | 403.6 | 448 | 401 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - |
| EBIT 1 | 36 | 31.3 | 25 | 46.2 | 60.9 | 40.2 | 33.8 | 74 | - | 42.8 | 30.8 |
| Operating Margin | 10.85% | 8.42% | 6.29% | 10.25% | 12.45% | 8.99% | 8% | 8.51% | - | 9.55% | 7.68% |
| Earnings before Tax (EBT) 1 | - | - | - | - | - | - | - | - | - | - | 6 |
| Net income 1 | - | - | - | - | 18.5 | - | - | - | 10.1 | 8.7 | 5 |
| Net margin | - | - | - | - | 3.78% | - | - | - | 2.5% | 1.94% | 1.25% |
| EPS | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/20/21 | 4/27/22 | 7/27/22 | 11/2/22 | 2/8/23 | 5/3/23 | 7/27/23 | 7/27/23 | 10/24/23 | 2/7/24 | - |
1EUR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 97.6 | 205 | 199 | 817 | 791 | 685 | 562 | 391 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.443 x | 0.9656 x | 1.002 x | 4.573 x | 4.132 x | 2.678 x | 1.794 x | 1.124 x |
| Free Cash Flow 1 | 105 | 128 | 105 | -37 | 52 | 131 | 162 | 198 |
| ROE (net income / shareholders' equity) | 14.5% | 10.7% | 9.7% | 5.75% | 3% | 8.38% | 11.3% | 12.5% |
| ROA (Net income/ Total Assets) | 6.42% | 5.58% | 5.07% | 2.5% | 1.17% | 3.42% | 5.2% | - |
| Assets 1 | 1,715 | 1,838 | 1,910 | 2,351 | 2,648 | 2,483 | 2,518 | - |
| Book Value Per Share 2 | 1.330 | 1.240 | 1.340 | 1.330 | 1.350 | 1.450 | 1.620 | 1.780 |
| Cash Flow per Share 2 | 0.2000 | 0.2400 | - | 0.0700 | 0.1800 | 0.1400 | 0.2300 | 0.2900 |
| Capex 1 | 37.9 | 54.6 | 70.9 | 88.4 | 86.1 | 68.1 | 72 | 65.9 |
| Capex / Sales | 2.95% | 4.41% | 5.21% | 5.17% | 5% | 3.87% | 3.85% | 3.31% |
| Announcement Date | 2/5/20 | 2/3/21 | 2/2/22 | 2/8/23 | 2/7/24 | - | - | - |
1EUR in Million2EUR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
1
Last Close Price
3.215
EUR
Average target price
3.642
EUR
Spread / Average Target
+13.28%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +1.69% | 2.59B | |
| -1.42% | 14.89B | |
| +25.00% | 4.92B | |
| -14.84% | 4.68B | |
| -11.99% | 4.52B | |
| +10.91% | 4.18B | |
| -17.31% | 4.12B | |
| +13.00% | 3.73B | |
| +29.08% | 3.43B | |
| +0.73% | 3.31B |
- Stock Market
- Equities
- MAREL Stock
- Financials Marel hf.
