MAIRE Stock Analysis: Maire Tecnimont S.p.A. | MI
Engineering & Construction | MI, Italy | Market Cap: 3.951m EUR | 12M Return: 2.2% | IT0004931058 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.81M
EPS Trend: 97.4%
Qual. Beats: 0
Rev. Trend: 97.4%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
MAIRE S.p.A. (MI: MAIRE) is a Milan-based engineering group focused on green chemistry and energy transition technologies, operating through two main segments: Integrated E&C Solutions, which delivers engineering, procurement and construction services for low-carbon industrial assets, and Sustainable Technology Solutions, which provides technology licensing, process design packages, proprietary equipment and catalysts, and digital solutions. Its activities span nitrogen, hydrogen, circular carbon, fuels and chemicals, and polymers. The company was renamed from Maire Tecnimont S.p.A. in April 2024 and operates as a subsidiary of GLV Capital S.p.A.
As a mid-cap listed on Borsa Italiana within the Construction & Engineering sub-industry, MAIRE combines a traditional EPC business model (one-off project revenues tied to large industrial plant builds) with a higher-margin technology licensing model, where proprietary processes, catalysts and equipment generate recurring royalty-style income across multiple plants and licensees. The dual structure is typical of engineering groups serving the chemicals and refining value chain, where firms increasingly package decarbonization-oriented process know-how alongside project execution.
- Green hydrogen and ammonia project wins expand order backlog
- Sustainable Technology licensing revenue lifts segment margin mix
- Middle East and Asia energy transition capex drives E&C growth
| Net Income: 271.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 1.95 > 1.0 |
| NWC/Revenue: 10.62% < 20% (prev 11.27%; Δ -0.65% < -1%) |
| CFO/TA 0.05 > 3% & CFO 426.6m > Net Income 271.5m |
| Net Debt (37.5m) to EBITDA (565.9m): 0.07 < 3 |
| Current Ratio: 1.11 > 1.5 & < 3 |
| Outstanding Shares: last quarter (332.8m) vs 12m ago 2.21% < -2% |
| Gross Margin: 11.18% > 18% (prev 29.72%; Δ -18.54% > 0.5%) |
| Asset Turnover: 87.00% > 50% (prev 84.36%; Δ 2.63% > 0%) |
| Interest Coverage Ratio: 7.64 > 6 (EBIT TTM 503.0m / Interest Expense TTM 65.9m) |
| A: 0.09 (Total Current Assets 7.58b - Total Current Liabilities 6.81b) / Total Assets 8.85b |
| B: 0.05 (Retained Earnings 452.2m / Total Assets 8.85b) |
| C: 0.06 (EBIT TTM 503.0m / Avg Total Assets 8.35b) |
| D: 0.07 (Book Value of Equity 579.3m / Total Liabilities 8.20b) |
| Altman-Z'' = 1.22 = BB |
| DSRI: 0.97 (Receivables 5.10b/4.77b, Revenue 7.27b/6.63b) |
| GMI: 2.66 (GM 29.72% / 11.18%) |
| AQI: 1.24 (AQ_t 0.12 / AQ_t-1 0.10) |
| SGI: 1.10 (Revenue 7.27b / 6.63b) |
| TATA: -0.02 (NI 271.5m - CFO 426.6m) / TA 8.85b) |
| Beneish M = -1.34 (Cap -4..+1) = D |
As of September 27, 2026, the stock is trading at EUR 12.09 with a total of 557,665 shares traded. Over the past week, the price has changed by -2.58%, over one month by +0.50%, over three months by -14.74% and over the past year by +2.18%.
Current recommended Stop Loss: 11.60 (which is 4.1% or 1.4 ATR below the current price).
Maire Tecnimont S.p.A. has no consensus analysts rating.
P/E Trailing = 14.5783
P/E Forward = 8.8339
P/S = 0.5402
P/B = 6.9951
P/EG = 6.3335
Revenue TTM = 7.27b EUR
EBIT TTM = 503.0m EUR
EBITDA TTM = 565.9m EUR
Long Term Debt = 902.0m EUR (from longTermDebt, last quarter)
Short Term Debt = 506.9m EUR (from shortTermDebt, last quarter)
Debt = 1.60b EUR (from shortLongTermDebtTotal, last quarter) + Leases 114.2m
Net Debt = 37.5m EUR (calculated: Debt 1.60b - CCE 1.56b)
Enterprise Value = 3.99b EUR (3.95b + Debt 1.60b - CCE 1.56b)
Interest Coverage Ratio = 7.64 (Ebit TTM 503.0m / Interest Expense TTM 65.9m)
EV/FCF = 10.01x (Enterprise Value 3.99b / FCF TTM 398.4m)
FCF Yield = 9.99% (FCF TTM 398.4m / Enterprise Value 3.99b)
FCF Margin = 5.48% (FCF TTM 398.4m / Revenue TTM 7.27b)
Net Margin = 3.74% (Net Income TTM 271.5m / Revenue TTM 7.27b)
Gross Margin = 11.18% ((Revenue TTM 7.27b - Cost of Revenue TTM 6.46b) / Revenue TTM)
Gross Margin QoQ = 23.17% (prev 6.69%)
Tobins Q-Ratio = 0.45 (Enterprise Value 3.99b / Total Assets 8.85b)
Interest Expense / Debt = 4.11% (Interest Expense 65.9m / Debt 1.60b)
Taxrate = 30.89% (138.0m / 446.8m)
NOPAT = 347.6m (EBIT 503.0m * (1 - 30.89%))
Current Ratio = 1.11 (Total Current Assets 7.58b / Total Current Liabilities 6.81b)
Debt / Equity = 2.77 (Debt 1.60b / totalStockholderEquity, last quarter 579.3m)
Debt / EBITDA = 0.07 (Net Debt 37.5m / EBITDA 565.9m)
Debt / FCF = 0.09 (Net Debt 37.5m / FCF TTM 398.4m)
Total Stockholder Equity = 659.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.25% (Net Income 271.5m / Total Assets 8.85b)
RoE = 41.19% (Net Income TTM 271.5m / Total Stockholder Equity 659.2m)
RoCE = 32.22% (EBIT 503.0m / Capital Employed (Equity 659.2m + L.T.Debt 902.0m))
RoIC = 15.91% (NOPAT 347.6m / Invested Capital 2.19b)
WACC = 7.80% (E(3.95b)/V(5.55b) * Re(9.81%) + D(1.60b)/V(5.55b) * Rd(4.11%) * (1-Tc(0.31)))
Discount Rate = 9.81% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -15.35 | Cagr: 0.58%
[DCF] Terminal Value 77.97% ; FCFF base≈319.3m ; Y1≈366.0m ; Y5≈538.7m
[DCF] Fair Price = 24.71 (EV 8.11b - Net Debt 37.5m = Equity 8.07b / Shares 326.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 97.36 | EPS CAGR: 41.82% | SUE: 0.0 | # QB: 0
Revenue Correlation: 97.42 | Revenue CAGR: 26.10% | SUE: -0.01 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.24 | Chg30d=+0.00% | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=0.90 | Chg30d=+0.70% | Revisions=+0% | GrowthEPS=+13.0% | GrowthRev=+7.1%
EPS next Year (2027-12-31): EPS=1.02 | Chg30d=+0.14% | Revisions=+40% | GrowthEPS=+13.3% | GrowthRev=+6.0%
[Analyst] Revisions Ratio: +29% (up=3, down=1)