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Martifer SGPS, S.A (MAR) Fair Value & Analysis

Industrials · PT · Market cap €230M

MS Martifer SGPS, S.A MAR · LS
Price€2.35
Fair Value€4.46
Upside+89.8%
Quality90/100
Evidence: Medium Range €3.20 – €5.59

Fair value as of: Jun 24, 2026

From 24 valuation models · updated 5 days ago

Fair value updated Jun 24, 2026 — revised from €4.39 to €4.46 (+1.6%) since Jun 23, 2026. Share price +2.2% over the past month.

Price vs Fair Value (12 months)

€2.74 €2.08 Fair Value €4.46 Jun 2025 Jun 2026

12‑month range €2.08 – €2.74 · fair‑value band €3.20 – €5.59 · the €2.35 price screens below the €4.46 fair value. As of Jun 24, 2026.

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Analysis

Martifer SGPS, S.A (MAR) currently trades at €2.35, while our model-based Fair Value estimate is €4.46 — implying the stock looks roughly 89.8% undervalued today. We read business quality at 90/100 (high quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium) — always confirm before acting.

Over the trailing twelve months, Martifer SGPS, S.A generated revenue of €291M at a net margin of 3.3%. Revenue grew 15.3% year over year. It earns a return on equity of 11.7%. Net debt stands at €8.4M. Fundamentals as of Jun 24, 2026

Key figures & financial health

Revenue (TTM) €291M
Revenue growth (YoY) +15.3%
Net margin 3.3%
Return on equity 11.7%
Free cash flow €30.6M FY2024
P/E ratio 11.8
More key figures
Operating margin -1.6%
EPS (TTM) €0.2000
Dividend yield 4.0%
EPS growth (YoY) -87.1%
Net debt €8.4M FY2023

Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.

About the company

Martifer SGPS, S.A. operates in the metallic constructions and renewable energy development sectors in Portugal, Angola, Saudi Arabia, Europe, and internationally. It operates through three segments: Metallic Constructions, Naval Industry, and Renewables. The Metallic Constructions segment engages in the metallic constructions, aluminum and glass facades, industrial maintenance, and infrastructure for oil and gas activities. The Naval Industry segment is involved in the ship building and renders of ship repair and ship conversion services. The Renewables segment promotes and develops of renewable energy projects focusing on the wind energy sector, as well as solar projects. The company was founded in 1990 and is headquartered in Oliveira de Frades, Portugal.

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Martifer SGPS, S.A reported revenue of €255M in FY2024 versus €226M in FY2020, a compound +3.0%/yr. Reported net income was €23.0M in FY2024, compounding +38.2%/yr from FY2020.

Revenue +3.0%/yr
FY20 €226M
FY21 €209M
FY22 €190M
FY23 €212M
FY24 €255M
Net income +38.2%/yr
FY20 €6.3M
FY21 €11.3M
FY22 €13.3M
FY23 €19.7M
FY24 €23.0M

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Frequently asked questions

Is Martifer SGPS, S.A (MAR) undervalued?
As of Jun 24, 2026, our model estimates a fair value of €4.46 versus a price of €2.35 — about +90% (undervalued). Model-based estimate, not financial advice.
What is the fair value of MAR?
Our 21-model fair value for Martifer SGPS, S.A is €4.46 (as of Jun 24, 2026), built from audited fundamentals. The current price is €2.35.
What is the quality score of MAR?
Martifer SGPS, S.A has a Quality Score of 90/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Martifer SGPS, S.A (MAR)?
Martifer SGPS, S.A reported trailing-twelve-month revenue of about €291M (latest available figure, as of Jun 24, 2026).
What is the net profit margin of MAR?
The net profit margin of Martifer SGPS, S.A is about 3.3%, meaning it keeps roughly 3.3% of revenue as net income. Based on the latest reported figures.
Does Martifer SGPS, S.A pay a dividend?
Martifer SGPS, S.A currently shows a dividend yield of about 3.96% relative to its recent price (as of Jun 24, 2026).

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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.