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Marisa Lojas S.A (AMAR3) fair value: what the stock is really worth

As of Oct 23, 2026: fair value (intrinsic value) of Marisa Lojas S.A stock BRL 2.40, price BRL 0.80, upside +200.0%, quality 35 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
  3. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Consumer Cyclical · BR · ISIN BRAMARACNOR4

ML Marisa Lojas S.A logo Thin data Oct 25, 2026

Marisa Lojas S.A

AMAR3 · SA

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

The stock costs 67% less than our calculation considers fair.

Fair value R$2.40 · Strongly undervalued (67%)
Moderate debt
Mixed vs. peers (5/12)
Insider activity 40/100
Quality 35/100
Weak Growth (revenue 5y −7.1 %/yr in BRL)
Loss-making · -15.6% net margin (TTM)
Negative free cash flow
Narrow moat 19/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

R$41.65 R$0.4600 Fair Value R$2.40 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 25, 2026.

How to read this chart

60‑month range R$0.4600 – R$41.65 · fair‑value band R$1.47 – R$3.34 · the R$0.8000 price screens below the R$2.40 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 25, 2026.

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Company profile

Marisa Lojas S.A., together with its subsidiaries, engages in the retail of clothing in Brazil. It operates through two segments, retail and financial products and services.

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The company sells fashion, lingerie, and clothing products for men, women, and children; and perfumery, cosmetics, and watches through physical stores and e-commerce. It also provides financial products and services, including credit card operations.

In addition, the company engages in the management of non-financial intangible assets, including trademark management; purchase, sale, use, and licensing of trademarks and patents; receipt of royalties; and authorization for reproduction and use of trademarks and patents in processes and products, as well as the retail trade in clothing.

Marisa Lojas S.A. was founded in 1948 and is headquartered in São Paulo, Brazil.

Stock analysis

Marisa Lojas S.A (AMAR3) currently trades at R$0.8000, while our model-based Fair Value estimate is R$2.40, implying the stock looks roughly 66.7% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of R$3.53 per share, and 2 of the 3 models we run sit above the R$0.8000 price.

Bear case: the Asset-Based group reads lowest at R$0.2500, and 1 of the 3 models stay below the price. Data coverage for this calculation is low.

Scenario range: R$1.47 (bear) to R$3.34 (bull), the price of R$0.8000 sits below 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 35/100 (below-average quality), in the Consumer Cyclical sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Marisa Lojas S.A reported revenue of R$1.5B in FY2025 versus R$2.5B in FY2021, a compound −12.4%/yr. Reported net income was −R$60.0M in FY2025.

Key figures

Market cap R$411M (≈ $82.2M) Micro · P/S ratio 0.28 · EPS (TTM) R$−0.4500 · Net margin −15.6% · Return on equity −131% · Return on assets (EBIT) −2.6% · Operating margin 10.4% · Revenue (TTM) R$1.5B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 19 out of 100 (low confidence).

What moves the price

The share trades about 33% below its 52-week high and 74% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 200%, AMAR3 screens cheaper than that median.

Fair Value models

Bear R$1.47 Fair Value R$2.40 Bull R$3.34
Price R$0.8000 · Upside +200.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. Coverage ⓘCoverage = 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.
Best data coverage
Owner Earnings R$2.89 R$3.53 R$4.52 78
EV/EBITDA R$1.60 R$2.62 R$3.65 65
NCAV (Graham) R$0.1900 R$0.2500 R$0.3700 54
All 3 models by family
DCF Models
Owner Earnings R$2.89 R$3.53 R$4.52 78
Multiples
EV/EBITDA R$1.60 R$2.62 R$3.65 65
Asset-Based
NCAV (Graham) R$0.1900 R$0.2500 R$0.3700 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 35/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 23
How much profit the company makes from its sales and capital
Quality Growth 57
Are margins and returns getting better?
Cashflow 9
Do the profits arrive as real cash?
Financial strength 7
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 40
How calm the share price moves, does not count
Momentum 39
Price trend of the last 3 to 12 months, does not count
Near the 52-week high 23
Distance to the 52-week high, does not count
New shares 40
Buys back shares or issues new ones?

Open the full quality analysis →

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. 6/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+6.5%
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.
−15.1%
Revenue growth 5 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.
−7.1%
Start year 2020 (pandemic). Over 10 years: −7.3% a year
Revenue growth 21 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.
+5.3%
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.
−13.7% (2020) → 0.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Apparel Retail · 102 stocks

Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside +200.0% · Top 25%
Profitability
Return on assets −2.9% · Bottom 25%
Net margin (12 months) −15.6% · Bottom 25%
Operating margin (12 months) 10.4% · Above median
Growth and dividend
Revenue growth (quarter YoY) −2.1% · Below median
Balance sheet
Debt / equity 0.62× · Highest 25%

Valuation Multiplesvs Apparel Retail median · lower = cheaper

P/B 1.83× · Pricier than median
P/S (12 months) 0.28× · Cheapest 25%
EV/EBITDA 3.2× · Cheapest 25%
PEG 0.44× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 52
FUTURE (revenue growth)0 · sector 16
PAST (return on equity)0 · sector 40
HEALTH (low debt)69 · sector 100
DIVIDEND (yield)0 · sector 59

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 Apparel Retail stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
lululemon athletica inc., LULU $99.01 $307.70 +211% vs AMAR3
The Gap, Inc GAP $22.32 $37.58 +68% vs AMAR3
Urban Outfitters, Inc URBN $86.55 $97.90 +13% vs AMAR3
Industria de Diseño Textil, S.A ITX €56.74 €62.41 +10% vs AMAR3
Aritzia Inc ATZ C$153.86 C$169.25 +10% vs AMAR3
Fast Retailing Co 6288 HK$37.98 HK$30.88 −19% vs AMAR3
Burlington Stores, Inc BURL $252.62 $150.41 −40% vs AMAR3
The TJX Companies, Inc TJX $147.38 $85.31 −42% vs AMAR3
Ross Stores, Inc ROST $229.30 $118.41 −48% vs AMAR3
Trent Limited TRENT ₹2,776 ₹709.49 −74% vs AMAR3

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Marisa Lojas S.A · Fair Value
R$2.40 +67%Fair Value
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Cite: Fair Value Calculator (2026). "Marisa Lojas S.A Fair Value". https://www.fairvalue-calculator.com/stock/AMAR3

Frequently asked questions

Is Marisa Lojas S.A (AMAR3) overvalued or undervalued?
As of Oct 25, 2026, our model estimates a fair value of R$2.40 versus a price of R$0.8000, about +200% upside (undervalued).
What is the fair value of AMAR3?
Our model-based fair value for Marisa Lojas S.A is R$2.40 (as of Oct 25, 2026), built from audited fundamentals. The current price: R$0.8000.
What is the quality score of AMAR3?
Marisa Lojas S.A has a Quality Score of 35/100. 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 Marisa Lojas S.A (AMAR3)?
Our model-based price target is the fair value of R$2.40 (as of Oct 25, 2026) from 3 valuation models. Cautious scenario R$1.47, optimistic scenario R$3.34. It is a calculation from audited fundamentals, not an analyst target.
What is the Marisa Lojas S.A stock forecast for 2026?
Our models put fair value at R$2.40, about +200% upside versus a price of R$0.8000 (undervalued). Cautious scenario R$1.47, optimistic scenario R$3.34. The calculation is refreshed regularly with new filings.
What is the revenue of Marisa Lojas S.A (AMAR3)?
Marisa Lojas S.A reported trailing-twelve-month revenue of about R$1.5B (latest available figure, as of Oct 25, 2026).
What is the intrinsic value of Marisa Lojas S.A (AMAR3)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Marisa Lojas S.A it is R$2.40 per share (as of Oct 25, 2026), against a price of R$0.8000. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Marisa Lojas S.A stock overvalued or undervalued in 2026?
As of Oct 25, 2026, AMAR3 trades below its calculated fair value: price R$0.8000, fair value R$2.40, a gap of about +200% (undervalued). 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 AMAR3?
No. The price is what the market pays today (R$0.8000); the fair value is what the company's own numbers justify (R$2.40). For Marisa Lojas S.A the two are R$1.60 per share apart. That gap is exactly why we show both numbers side by side.
How much is Marisa Lojas S.A worth?
The market values Marisa Lojas S.A at about R$411M (market capitalisation, as of Oct 25, 2026). Per share that is R$0.8000; our models calculate a fair value of R$2.40 per share.
What do the bullish and bearish scenarios say about AMAR3?
Our models span a range for Marisa Lojas S.A: cautious scenario R$1.47, base R$2.40, optimistic R$3.34 per share (as of Oct 25, 2026, price R$0.8000). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of AMAR3?
The PEG ratio of Marisa Lojas S.A is 0.44 (P/E divided by earnings growth, as of Oct 25, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Marisa Lojas S.A (AMAR3)?
Balance-sheet figures for Marisa Lojas S.A (as of Oct 25, 2026): return on equity −130.6%, debt of 0.62 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is AMAR3 from its 52-week high?
Marisa Lojas S.A trades at R$0.8000, about 33% below its 52-week high of R$1.20 and 74% above the low of R$0.4600 (as of Oct 23, 2026). Distance from the high says nothing about value: that is what the fair value of R$2.40 is for.
Which stocks are comparable to Marisa Lojas S.A?
From the same area (Consumer Cyclical) we also value Industria de Diseño Textil, S.A, The TJX Companies, Inc, Fast Retailing Co, Ross Stores, Inc, 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 Marisa Lojas S.A stock attractive at the current price?
The data as of Oct 25, 2026: price R$0.8000, calculated fair value R$2.40 (+200%), Quality Score 35/100, from 3 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 AMAR3 calculated?
We run Marisa Lojas S.A through 3 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 R$2.40, 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 12.5 % above its aggregate fair value. Marisa Lojas S.A currently trades 67 % below its own fair value, and the market average says nothing about that. 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 Marisa Lojas S.A (AMAR3)?
The closing price on Oct 23, 2026 was R$0.8000. Our model-based fair value is R$2.40, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Marisa Lojas S.A right now?
The large discount to fair value meets weak quality (35/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (R$1.47). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (R$1.47 to R$3.34) leaves room in how you read the outcome.

Key figures of Marisa Lojas S.A

How large is the market capitalisation of Marisa Lojas S.A (AMAR3)?
The market capitalisation of Marisa Lojas S.A is R$411M (≈ $82.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Marisa Lojas S.A (AMAR3)?
The price-to-sales ratio of Marisa Lojas S.A is 0.28 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Marisa Lojas S.A (AMAR3)?
Earnings per share at Marisa Lojas S.A are R$−0.4500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Marisa Lojas S.A (AMAR3)?
The net margin of Marisa Lojas S.A is −15.6% (last twelve months). 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 Marisa Lojas S.A (AMAR3)?
The return on equity (ROE) of Marisa Lojas S.A is −131% (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 Marisa Lojas S.A (AMAR3)?
On an EBIT basis the return on assets of Marisa Lojas S.A is −2.6% (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 Marisa Lojas S.A (AMAR3)?
The operating margin of Marisa Lojas S.A is 10.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Marisa Lojas S.A (AMAR3)?
Revenue at Marisa Lojas S.A is growing −2.1% versus a year earlier (3y avg −15.1%). 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 Marisa Lojas S.A (AMAR3)?
Earnings per share at Marisa Lojas S.A are growing −90.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Marisa Lojas S.A (AMAR3) generate?
The free cash flow of Marisa Lojas S.A is −R$12.8M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Marisa Lojas S.A (AMAR3) carry?
The net debt of Marisa Lojas S.A is R$758M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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