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Manitou BF SA (0NDA) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Manitou BF SA €10.27, price €20.00, upside -48.7%, quality 45 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Industrials · GB · Home France · ISIN FR0000038606

MB Thin data Sep 24, 2026

Manitou BF SA

0NDA · LSE

Weakest SetupStrongly overvalued and low quality.

!Fair value €10.27 · Strongly overvalued (−48.7%)
!Quality 45/100
!Weak Growth (revenue 3y −0.1 %/yr)
!Thin margins · 2.7% net margin (TTM)
✓Low debt
·3.8% dividend yield · Safety not assessed
!Narrow moat 35/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€26.76 €13.37 Fair Value €10.27 Apr 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range €13.37 – €26.76 · fair‑value band €7.47 – €13.35 · the €20.00 price screens above the €10.27 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Manitou BF SA, together with its subsidiaries, engages in the development, manufacture, and distribution of equipment and services in France, Southern Europe, Northern Europe, the Americas, Asia, the Pacific, Africa, and the Middle East. The company operates in two segments, Product, and Services and Solutions.

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Manitou BF SA, together with its subsidiaries, engages in the development, manufacture, and distribution of equipment and services in France, Southern Europe, Northern Europe, the Americas, Asia, the Pacific, Africa, and the Middle East. The company operates in two segments, Product, and Services and Solutions. It offers material handling, access, and earthmoving equipment, including rough-terrain fixed, rotating, and heavy-duty telehandlers; rough-terrain, semi-industrial, and industrial forklift trucks; wheeled or tracked skid-steer, articulated, backhoe, and track loaders; aerial work platforms; and truck-mounted forklifts, as well as warehousing equipment and attachments. The company also provides attachments, such as buckets, clamps, fork handling solutions, forks and grabs, jibs, skips, platforms, sweepers and cleaners, winches; mining solutions; earth drilling and digging solutions; snow removing and levelling solutions; and miscellaneous attachments. In addition, it offers value added services comprising training for the dealers and key accounts, new or refurbished spare parts, after-sales service, fleet management, machine connectivity, financing solutions, maintenance and warranty extension contracts, short or long-term full-service contracts. The company sells its products through a network of dealers under the Manitou, Gehl, and Mustang by Manitou brands in agriculture, construction, industry, aeronautics, defense, environment, mining, and oil and gas markets. Manitou BF SA was incorporated in 1954 and is headquartered in Ancenis-Saint-Géréon, France.

Stock analysis

Manitou BF SA (0NDA) currently trades at €20.00, while our model-based Fair Value estimate is €10.27, 48.7% below the price, so the stock looks overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of €13.72 per share, and 1 of the 14 models we run sit above the €20.00 price.

Bear case: the Dividend Discount group reads lowest at €5.19, and 13 of the 14 models stay below the price. Evidence for this calculation is low.

Scenario range: €7.47 (bear) to €13.35 (bull), the price of €20.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 45/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Manitou BF SA reported revenue of €1.6B in FY2020 versus €1.3B in FY2016, a compound +4.5%/yr. Reported net income was €39.6M in FY2020, compounding −2.0%/yr from FY2016.

Key figures

Market cap €1.2B · P/S ratio 0.47 · Dividend yield 3.8% · Net margin 2.5% · Return on equity 7.0% · Return on assets (EBIT) 8.3% · Operating margin 6.1% · Revenue (TTM) €2.6B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).

What moves the price

The share trades about 16% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −50% fair-value upside, at −49%, 0NDA screens cheaper than that median.

Fair Value models

Bear €7.47 Fair Value €10.27 Bull €13.35
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV €4.36 €5.26 €6.01 74
Residual Income €8.18 €8.36 €8.86 73
ROIC Compounder €4.36 €5.26 €6.01 69
All 14 models by family
Earnings-Based
Graham-Dodd €4.44 €8.69 €10.87 63
EPV €4.36 €5.26 €6.01 74
Dividend Discount
Gordon GGM €3.93 €5.21 €6.38 67
DDM Multi-Stage €3.93 €5.19 €6.49 65
Multiples
P/E Multiple €10.29 €13.72 €17.15 63
P/S Multiple €8.33 €11.11 €13.88 58
P/B Multiple €8.33 €11.11 €13.88 55
EV/EBIT €13.52 €18.76 €24.01 66
EV/EBITDA €16.57 €22.83 €29.09 67
EV/Revenue €9.01 €13.83 €18.64 53
Asset-Based
NCAV (Graham) €5.44 €7.29 €10.88 54
Economic Profit
Residual Income €8.18 €8.36 €8.86 73
ROIC Compounder €4.36 €5.26 €6.01 69
Growth Earnings
Growth-Adj P/E €7.41 €10.59 €13.77 65

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Quality Score breakdown

Overall quality 45/100

Of which business quality 47 · Market factors (momentum, volatility) 45

Profitability 44
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 31
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 48
Distance to the 52-week high (market factor)

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 11/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−24.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.1%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
5.2% (2016) → 4.7% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
not computed

0NDA screens overvalued: fair value 49% below the price. Compare with BAJAJST →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Industrial Machinery · 20 stocks

Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 45 · Below median
Fair Value upside −53.1% · Below median
Profitability
Return on equity (TTM) 7.0% · Below median
Return on assets 4.3% · Below median
Net margin (TTM) 2.7% · Bottom 25%
Operating margin (TTM) 6.1% · Below median
Growth and dividend
Revenue growth 3.3% · Above median
Dividend yield (TTM) 3.8% · Top 25%
Balance sheet
Debt / equity 0.22× · Highest 25%

Valuation Multiplesvs Industrial Machinery median · lower = cheaper

P/B 2.14× · Cheaper than median
P/S (TTM) 0.55× · Cheapest 25%
EV/EBITDA 7.7× · Cheapest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Industrial Machinery stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
BAJAJST BAJAJST ₹334.40 ₹188.79 −44%
SEALMATIC SEALMATIC ₹400.00 ₹86.20 −78%
BIRLAPREC BIRLAPREC ₹56.22 ₹20.03 −64%
Stovec Industries Limited 504959 ₹1,602 ₹431.70 −73%
DHINDIA DHINDIA ₹208.90 ₹247.77 +19%
UVDRHOR UVDRHOR ₹36.50 ₹15.93 −56%
BRADYM BRADYM ₹656.50 ₹331.28 −50%
EXPOGAS EXPOGAS ₹89.50 ₹37.65 −58%
CENLUB CENLUB ₹177.75 ₹288.04 +62%
ITL ITL ₹359.80 ₹221.94 −38%

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Cite: Fair Value Calculator (2026). "Manitou BF SA Fair Value". https://www.fairvalue-calculator.com/stock/0NDA

Frequently asked questions

Is Manitou BF SA (0NDA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €10.27 versus a price of €20.00, about −49% upside (overvalued).
What is the fair value of 0NDA?
Our model-based fair value for Manitou BF SA is €10.27 (as of Sep 24, 2026), built from audited fundamentals. The current price: €20.00.
What is the quality score of 0NDA?
Manitou BF SA has a Quality Score of 45/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Manitou BF SA (0NDA)?
Our model-based price target is the fair value of €10.27 (as of Sep 24, 2026) from 14 valuation models. Cautious scenario €7.47, optimistic scenario €13.35. It is a calculation from audited fundamentals, not an analyst target.
What is the Manitou BF SA stock forecast for 2026?
Our models put fair value at €10.27, about −49% upside versus a price of €20.00 (overvalued). Cautious scenario €7.47, optimistic scenario €13.35. The calculation is refreshed regularly with new filings.
What is the revenue of Manitou BF SA (0NDA)?
Manitou BF SA reported trailing-twelve-month revenue of about €2.6B (latest available figure, as of Sep 24, 2026).
Does Manitou BF SA pay a dividend?
Manitou BF SA currently shows a dividend yield of about 3.75% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Manitou BF SA (0NDA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Manitou BF SA it is €10.27 per share (as of Sep 24, 2026), against a price of €20.00. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Manitou BF SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0NDA trades above its calculated fair value: price €20.00, fair value €10.27, a gap of about −49% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0NDA?
No. The price is what the market pays today (€20.00); the fair value is what the company's own numbers justify (€10.27). For Manitou BF SA the two are €9.73 per share apart. That gap is exactly why we show both numbers side by side.
How much is Manitou BF SA worth?
The market values Manitou BF SA at about €1.2B (market capitalisation, as of Sep 24, 2026). Per share that is €20.00; our models calculate a fair value of €10.27 per share.
What do the bullish and bearish scenarios say about 0NDA?
Our models span a range for Manitou BF SA: cautious scenario €7.47, base €10.27, optimistic €13.35 per share (as of Sep 24, 2026, price €20.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Manitou BF SA (0NDA)?
Balance-sheet figures for Manitou BF SA (as of Sep 24, 2026): return on equity 7.0%, debt of 0.22 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is 0NDA from its 52-week high?
Manitou BF SA trades at €20.00, about 16% below its 52-week high of €23.93 and 22% above the low of €16.37 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €10.27 is for.
Which stocks are comparable to Manitou BF SA?
From the same area (Industrials) we also value BAJAJST, SEALMATIC, BIRLAPREC, Stovec Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Manitou BF SA stock attractive at the current price?
The data as of Sep 24, 2026: price €20.00, calculated fair value €10.27 (−49%), Quality Score 45/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0NDA calculated?
We run Manitou BF SA through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €10.27, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Manitou BF SA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Manitou BF SA (0NDA)?
The closing price on Oct 2, 2026 was €20.00. Our model-based fair value is €10.27, about −49% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Manitou BF SA right now?
The price sits above even our optimistic bull case (€13.35). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Manitou BF SA

How large is the market capitalisation of Manitou BF SA (0NDA)?
The market capitalisation of Manitou BF SA is €1.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Manitou BF SA (0NDA)?
The price-to-sales ratio of Manitou BF SA is 0.47 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Manitou BF SA (0NDA)?
The dividend yield of Manitou BF SA is 3.8%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Manitou BF SA (0NDA)?
The net margin of Manitou BF SA is 2.5% (fiscal year 2020). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Manitou BF SA (0NDA)?
The return on equity (ROE) of Manitou BF SA is 7.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Manitou BF SA (0NDA)?
On an EBIT basis the return on assets of Manitou BF SA is 8.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Manitou BF SA (0NDA)?
The operating margin of Manitou BF SA is 6.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Manitou BF SA (0NDA)?
Revenue at Manitou BF SA is growing +3.3% versus a year earlier (3y avg −0.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Manitou BF SA (0NDA)?
Earnings per share at Manitou BF SA are growing −9.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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