Financials Maurel

Equities

MAU

FR0000051070

Oil & Gas Exploration and Production

Market Closed - Euronext Paris Other stock markets 11:35:08 2024-04-26 am EDT			5-day change	1st Jan Change
6.145 ^EUR	+0.82%		+0.66%	+0.90%

Apr. 18	Maurel & Prom: net cash position returns to positive territory	CF
Apr. 18	Etablissements Maurel & Prom S.A. Announces Production Results for the First Quarter of 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	556.1	341.8	448.5	793.4	1,210	1,220	-	-
Enterprise Value (EV) ¹	989.4	717.1	755.8	980	1,321	1,172	1,090	938.7
P/E ratio	16.2 x	-0.69 x	4.17 x	4.18 x	6.28 x	5 x	5.16 x	4.73 x
Yield	-	-	3.07%	5.73%	3.78%	5%	4.05%	4.39%
Capitalization / Revenue	1.21 x	1.25 x	1.01 x	1.26 x	1.92 x	2.19 x	2.3 x	2.28 x
EV / Revenue	2.16 x	2.63 x	1.71 x	1.56 x	2.09 x	2.1 x	2.05 x	1.75 x
EV / EBITDA	3.8 x	8.97 x	3 x	2.37 x	3.98 x	3.5 x	3.38 x	2.92 x
EV / FCF	-51.5 x	53.3 x	7.21 x	3.99 x	11.5 x	4.38 x	6.01 x	3.52 x
FCF Yield	-1.94%	1.88%	13.9%	25.1%	8.7%	22.8%	16.6%	28.4%
Price to Book	0.54 x	0.75 x	0.74 x	0.99 x	1.29 x	1.03 x	0.9 x	0.76 x
Nbr of stocks (in thousands)	197,192	196,660	196,702	197,616	198,754	198,610	-	-
Reference price ²	2.820	1.738	2.280	4.015	6.090	6.145	6.145	6.145
Announcement Date	4/1/20	1/28/21	3/18/22	3/14/23	3/1/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	458.9	272.8	443.2	630.2	630.9	558	531.1	536.2
EBITDA ¹	260.3	79.92	251.9	413	332.1	335.1	322.9	321.5
EBIT ¹	63.7	-15.98	142.2	328.2	178.5	238	237.7	216.5
Operating Margin	13.88%	-5.86%	32.08%	52.07%	28.3%	42.65%	44.75%	40.37%
Earnings before Tax (EBT) ¹	35.42	-458.3	127.8	306.7	160	191.3	153.5	96.59
Net income ¹	34.17	-497.9	108.9	192.1	194.3	413.6	294	359.2
Net margin	7.45%	-182.5%	24.57%	30.47%	30.79%	74.12%	55.35%	66.98%
EPS ²	0.1738	-2.512	0.5466	0.9610	0.9690	1.228	1.190	1.300
Free Cash Flow ¹	-19.2	13.46	104.9	245.7	115	267.3	181.4	266.5
FCF margin	-4.18%	4.93%	23.66%	38.99%	18.22%	47.9%	34.16%	49.7%
FCF Conversion (EBITDA)	-	16.84%	41.62%	59.5%	34.62%	79.75%	56.18%	82.89%
FCF Conversion (Net income)	-	-	96.32%	127.95%	59.18%	64.63%	61.71%	74.19%
Dividend per Share ²	-	-	0.0700	0.2300	0.2300	0.3073	0.2490	0.2700
Announcement Date	4/1/20	1/28/21	3/18/22	3/14/23	3/1/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2022 S1	2022 S2	2023 S1	2023 S2	2024 Q1
Net sales ¹	-	-	-	273.1	-	199.3
EBITDA	15.2	244.4	179.9	-	180	-
EBIT	-40.52	-	-	-	-	-
Operating Margin	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-
Net income	-	-	-	48.01	-	-
Net margin	-	-	-	17.58%	-	-
EPS	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-
Announcement Date	8/7/20	-	3/14/23	8/4/23	3/1/24	4/18/24

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	433	375	307	187	111	-	-	-
Net Cash position ¹	-	-	-	-	-	48.8	131	282
Leverage (Debt/EBITDA)	1.665 x	4.696 x	1.22 x	0.4518 x	0.3338 x	-	-	-
Free Cash Flow ¹	-19.2	13.5	105	246	115	267	181	266
ROE (net income / shareholders' equity)	3.35%	-6.49%	22.4%	26.9%	22.4%	31%	20.6%	20.6%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	5.240	2.310	3.060	4.040	4.730	5.940	6.810	8.090
Cash Flow per Share ²	0.7500	0.4600	1.270	1.720	1.250	1.210	1.010	-
Capex ¹	134	78.2	147	95.6	135	84.4	104	74
Capex / Sales	29.29%	28.67%	33.23%	15.18%	21.32%	15.13%	19.53%	13.8%
Announcement Date	4/1/20	1/28/21	3/18/22	3/14/23	3/1/24	-	-	-

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

Ratings for Maurel

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6.145 EUR

Average target price

5.733 EUR

Spread / Average Target

-6.70%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other Oil & Gas Exploration and Production

	1st Jan change	Capi.
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HESS CORPORATION	+12.74%	49.91B
DIAMONDBACK ENERGY, INC.	+33.97%	37.05B

Other Oil & Gas Exploration and Production