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Making Science Group (MAKS) Fair Value & Analysis

Communication Services · ES · Market cap €61.5M

MS Making Science Group MAKS · MC
Price€6.50
Fair Value€6.36
Upside-2.1%
Quality51/100
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Healthy Growth
Thin margins · 7.1% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 28/100
Evidence: High Range €3.59 – €13.50 Share as image

Fair value as of: Jul 16, 2026

From 23 valuation models · updated 26 days ago

Fair value updated Jul 16, 2026, revised from €7.39 to €6.36 (−13.8%) since Jun 25, 2026. Share price −7.8% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The model range is unusually wide (€3.59 to €13.50). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
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Price vs Fair Value (5 years)

€32.85 €6.50 Fair Value €6.36 Jan 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range €6.50 – €32.85 · fair‑value band €3.59 – €13.50 · the €6.50 price screens above the €6.36 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Making Science Group (MAKS) currently trades at €6.50, while our model-based Fair Value estimate is €6.36, implying the stock looks roughly 2.1% fairly valued today. The Quality Score stands at 51/100 (solid quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Making Science Group generated revenue of €348M at a net margin of 7.1%. Revenue grew 25.1% year over year. It earns a return on equity of -20.2%. Net debt stands at €10.9M. Fundamentals as of Jul 16, 2026

Our scenario range runs from €3.59 (bear case) to €13.50 (bull case); at €6.50, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 31% below its 52-week high, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -1% fair-value upside, at -2%, MAKS screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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. Evidence
Highest evidence
Growth DCF €43.67 €68.79 €108.05 80
Residual Income €24.47 €54.91 €2,105 76
Rev-Margin DCF €45.38 €77.09 €143.51 74
All 23 models by family
DCF Models
FCF DCF €46.44 €63.97 €115.14 38
Owner Earnings €34.07 €64.24 €116.88 31
5Y Revenue Exit €41.48 €67.77 €122.63 39
5Y EBITDA Exit €23.03 €30.53 €44.94 41
5Y P/E Exit €47.59 €98.95 €168.25 38
10Y Revenue Exit €42.10 €83.00 €107.45 36
10Y EBITDA Exit €31.69 €49.14 €74.20 37
10Y P/E Exit €47.02 €94.19 €170.02 35
Earnings-Based
Graham-Dodd €18.69 €130.31 €182.87 54
Lynch FV €65.17 €93.10 €121.03 50
PEG = 1.0 €65.17 €93.10 €121.03 46
Dividend Discount
Gordon GGM €0.0800 €0.1300 €0.1700 70
DDM Multi-Stage €0.0800 €0.1200 €0.1400 61
Multiples
P/E Multiple €45.34 €60.45 €75.57 63
P/S Multiple €35.04 €46.71 €58.39 58
P/B Multiple €11.13 €14.84 €18.56 55
EV/EBITDA €10.14 €12.58 €15.03 54
EV/Revenue €36.30 €50.66 €65.02 43
Asset-Based
NCAV (Graham) €2.12 €2.84 €4.24 50
Growth DCF
Growth DCF €43.67 €68.79 €108.05 80
Rev-Margin DCF €45.38 €77.09 €143.51 74
Economic Profit
Residual Income €24.47 €54.91 €2,105 76
Growth Earnings
Growth-Adj P/E €87.05 €124.36 €161.66 68

Widest divergence: Growth Earnings (€124.36) versus Dividend Discount (€0.1200). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €348M
Revenue growth (YoY) +25.1%
Net margin 7.1%
Return on equity -20.2%
Free cash flow €33.3M FY2025
Operating margin -0.9%
More key figures
EPS (TTM) €-0.8600
Net debt €10.9M FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 56 · Market factors (momentum, volatility) 28

Profitability 76
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 4
Distance to the 52-week high (market factor)
Net Issuance 27
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Making Science Group, S.A., together with its subsidiaries, provides technology consulting and e-commerce and digital transformation marketing services worldwide. The company provides its services to areas of data, analytics, and adtech, digital advertising, software and cloud, salesforce, and eCommerce and marketplaces.

Full company description

Making Science Group, S.A., together with its subsidiaries, provides technology consulting and e-commerce and digital transformation marketing services worldwide. The company provides its services to areas of data, analytics, and adtech, digital advertising, software and cloud, salesforce, and eCommerce and marketplaces. It offers Ad-machina, a technology that allows companies advertise their products and services through Google Ads; Nilo, a cloud-based e-commerce platform; Gauss, a platform that offers a suite of solutions that creates a data-driven ecosystem; and Shoptize, a price comparator that allows end users to compare prices of various products. The company also provides custom software development, digital product design, data and analytics, advertising, brand and content strategy, programmatic and paid search, search engine optimization, conversion rate optimization, CRM and marketing automation, network resources, data storage, software administration services, and technical support services. It offers its products and solutions under the pilot ignite, TREKRONORMEDIA, making science, agua3, and LOYAL brand names. The company is based in Madrid, Spain. Making Science Group, S.A. is a subsidiary of The Science of Digital S.L.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Making Science Group reported revenue of €348M in FY2025 versus €110M in FY2021, a compound +33.3%/yr. Reported net income was €24.8M in FY2025.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€348M
Latest YoY
+27.3%
Avg. growth/yr (3Y) 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.
+18.3%
Avg. growth/yr (5Y) 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.
+43.3%
Avg. growth/yr (6Y) 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.
+47.0%
Revenue +33.3%/yr
FY21 €110M
FY22 €210M
FY23 €236M
FY24 €274M
FY25 €348M
Net income
FY21 −€3.5M
FY22 −€5.0M
FY23 −€3.8M
FY24 −€1.7M
FY25 €24.8M

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Cite: Fair Value Calculator (2026). "Making Science Group Fair Value". https://www.fairvalue-calculator.com/stock/MAKS

Peer Group

Advertising Agencies · 199 stocks

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.

Quality Score 51 · Below median
Fair Value upside −2% · Above median
Return on assets 0% · Below median
Net margin (TTM) 7% · Top 25%
Operating margin (TTM) -1% · Below median
Revenue growth 25% · Top 25%
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Advertising Agencies median · lower = cheaper

P/B 1.85× · Pricier than median
P/S (TTM) 0.20× · Cheaper than median
P/FCF 2.1× · Cheaper than median
EV/EBITDA 50.5× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 30 · sector 19
FUTURE 100 · sector 8
PAST 0 · sector 7
HEALTH 94 · sector 98
DIVIDEND 0 · sector 66

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Advertising Agencies stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
AppLovin Corporation APP $506.98 $181.37 -64%
Publicis Groupe S.A PUB €87.16 €146.36 +68%
Omnicom Group OMC $80.75 $99.84 +24%
Focus Media Information Technology Co 002027 ¥5.00 ¥4.08 -18%
The Trade Desk, Inc TTD $19.37 $20.76 +7%
BlueFocus Intelligent Communications Group 300058 ¥13.81 ¥1.50 -89%
JCDecaux SE DEC €21.28 €20.99 -1%
WPP plc WPP $18.13 $18.56 +2%
Easy Click Worldwide Network Technology Co 301171 ¥28.85 ¥5.62 -81%
Mobvista Inc 1860 HK$11.15 HK$6.43 -42%

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Frequently asked questions

Is Making Science Group (MAKS) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of €6.36 versus a price of €6.50, about −2% (fairly valued).
What is the fair value of MAKS?
Our model-based fair value for Making Science Group is €6.36 (as of Jul 16, 2026), built from audited fundamentals. The current price is €6.50.
What is the quality score of MAKS?
Making Science Group has a Quality Score of 51/100. 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 revenue of Making Science Group (MAKS)?
Making Science Group reported trailing-twelve-month revenue of about €348M (latest available figure, as of Jul 16, 2026).
What is the net profit margin of MAKS?
The net profit margin of Making Science Group is about 7.1%, meaning it keeps roughly 7.1% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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