Martela Oyj A (MARAS) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Martela Oyj A €0.50, price €0.57, upside -12.5%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range €0.4260 – €3.52 · fair‑value band €0.3769 – €0.6243 · the €0.5680 price screens above the €0.4969 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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Martela Oyj operates in the workplace industry in Finland, Sweden, Norway, and internationally.
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Martela Oyj operates in the workplace industry in Finland, Sweden, Norway, and internationally. The company offers seating products, including task, conference, care, universal, easy, and school chairs; sofas, benches, and stools; tables, such as standing height, conference, school, electric, universal, sofa and side, and folding tables, as well as desks; and storage products comprising cabinets and lockers, pedestals, and school cabinets and lockers. It also provides floor and table screens, and space dividers; phone booths and meeting modules; school furniture; and other products, such as bean bags, trolley for storing and moving chairs, decorative cushions, office bags, coat racks, recycling units, storage baskets, and seat cushions. In addition, the company offers cable management accessories, including cable channels, power outlets and holders, power outlets with USB-C, power outlets, powerlogs, wire holes, cable holders, cord organizers, and cable tubes; and workstation accessories, including computer holders, distance brackets, front panels, monitor arms. Further, it provides upholstery fabrics; and surface materials comprising laminates, linoleum, melamine, metals, plastics, and wood surfaces. Additionally, the company offers workplace consultancy, interior and space design and implementation, and furniture optimization and recycling services. It provides its solutions for workplaces, mobile work, and activity-based offices. Martela Oyj was founded in 1945 and is headquartered in Espoo, Finland.
Stock analysis
Martela Oyj A (MARAS) currently trades at €0.5680, while our model-based Fair Value estimate is €0.4969, implying the stock looks roughly 14.3% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €0.4713 per share, and 1 of the 10 models we run sit above the €0.5680 price.
Bear case: the Multiples group reads lowest at €0.3495, and 9 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: €0.3769 (bear) to €0.6243 (bull), the price of €0.5680 sits inside 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 52/100 (solid 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.
Martela Oyj A reported revenue of €93.7M in FY2025 versus €91.9M in FY2021, a compound +0.5%/yr. Reported net income was −€3.5M in FY2025.
Key figures
Market cap €2.6M · P/S ratio 0.03 · EPS (TTM) €−0.8200 · Net margin −3.7% · Return on equity −511% · Return on assets (EBIT) −4.5% · Operating margin −11.0% · Revenue (TTM) €85.5M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).
What moves the price
The share trades about 52% below its 52-week high and 33% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at −13%, MARAS screens richer than that median.
Fair Value models
Bear €0.3769Fair Value €0.4969Bull €0.6243
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.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.
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.32/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+8.1%
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.
−4.3%
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.
+1.2%
Start year 2020 (pandemic). Over 10 years: −3.4% a year
Revenue growth 25 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.
−9.2%
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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.
−4.9% (2020) → −1.3% (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
News mood ⓘNews mood, the average tone of recent news (69 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Negative
Recent news coverage is more negative than average.
Price, fair value, quality and upside side by side.
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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.Furnishings, Fixtures & Appliances · 316 stocks
Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−13% · Below median
Profitability
Return on equity (TTM)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets−2% · Bottom 25%
Net margin (TTM)−4% · Bottom 25%
Operating margin (TTM)−11% · Bottom 25%
Growth and dividend
Revenue growth−32% · Bottom 25%
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM)0.04× · Cheapest 25%
P/FCF0.8× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)17· sector 33
FUTURE (revenue growth)0· sector 0
PAST (return on equity)0· sector 19
HEALTH (low debt)0· sector 98
DIVIDEND (yield)0· sector 62
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
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Cite: Fair Value Calculator (2026). "Martela Oyj A Fair Value". https://www.fairvalue-calculator.com/stock/MARAS
Frequently asked questions
Is Martela Oyj A (MARAS) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €0.4969 versus a price of €0.5680, about −13% upside (overvalued).
What is the fair value of MARAS?
Our model-based fair value for Martela Oyj A is €0.4969 (as of Sep 23, 2026), built from audited fundamentals. The current price: €0.5680.
What is the quality score of MARAS?
Martela Oyj A has a Quality Score of 52/100. 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 Martela Oyj A (MARAS)?
Our model-based price target is the fair value of €0.4969 (as of Sep 23, 2026) from 10 valuation models. Cautious scenario €0.3769, optimistic scenario €0.6243. It is a calculation from audited fundamentals, not an analyst target.
What is the Martela Oyj A stock forecast for 2026?
Our models put fair value at €0.4969, about −13% upside versus a price of €0.5680 (overvalued). Cautious scenario €0.3769, optimistic scenario €0.6243. The calculation is refreshed regularly with new filings.
What is the revenue of Martela Oyj A (MARAS)?
Martela Oyj A reported trailing-twelve-month revenue of about €85.5M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Martela Oyj A (MARAS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Martela Oyj A it is €0.4969 per share (as of Sep 23, 2026), against a price of €0.5680. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Martela Oyj A stock overvalued or undervalued in 2026?
As of Sep 23, 2026, MARAS trades above its calculated fair value: price €0.5680, fair value €0.4969, a gap of about −13% (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 MARAS?
No. The price is what the market pays today (€0.5680); the fair value is what the company's own numbers justify (€0.4969). For Martela Oyj A the two are €0.0711 per share apart. That gap is exactly why we show both numbers side by side.
How much is Martela Oyj A worth?
The market values Martela Oyj A at about €2.6M (market capitalisation, as of Sep 23, 2026). Per share that is €0.5680; our models calculate a fair value of €0.4969 per share.
What do the bullish and bearish scenarios say about MARAS?
Our models span a range for Martela Oyj A: cautious scenario €0.3769, base €0.4969, optimistic €0.6243 per share (as of Sep 23, 2026, price €0.5680). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Martela Oyj A (MARAS)?
Balance-sheet figures for Martela Oyj A (as of Sep 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is MARAS from its 52-week high?
Martela Oyj A trades at €0.5680, about 52% below its 52-week high of €1.18 and 33% above the low of €0.4260 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €0.4969 is for.
Which stocks are comparable to Martela Oyj A?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, Haier Smart Home Co, King Slide Works Co, 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 Martela Oyj A stock attractive at the current price?
The data as of Sep 23, 2026: price €0.5680, calculated fair value €0.4969 (−13%), Quality Score 52/100, from 10 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 MARAS calculated?
We run Martela Oyj A through 10 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 €0.4969, 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 13.2 % above its aggregate fair value. Martela Oyj A 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 Martela Oyj A (MARAS)?
The closing price on Sep 24, 2026 was €0.5680. Our model-based fair value is €0.4969, about −13% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Martela Oyj A right now?
Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Martela Oyj A
How large is the market capitalisation of Martela Oyj A (MARAS)?
The market capitalisation of Martela Oyj A is €2.6M. 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 Martela Oyj A (MARAS)?
The price-to-sales ratio of Martela Oyj A is 0.03 (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 Martela Oyj A (MARAS)?
Earnings per share at Martela Oyj A are €−0.8200. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Martela Oyj A (MARAS)?
The net margin of Martela Oyj A is −3.7% (fiscal year 2025). 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 Martela Oyj A (MARAS)?
The return on equity (ROE) of Martela Oyj A is −511% (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 Martela Oyj A (MARAS)?
On an EBIT basis the return on assets of Martela Oyj A is −4.5% (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 Martela Oyj A (MARAS)?
The operating margin of Martela Oyj A is −11.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Martela Oyj A (MARAS)?
Revenue at Martela Oyj A is growing −31.9% versus a year earlier (3y avg −4.3%). 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 Martela Oyj A (MARAS)?
Earnings per share at Martela Oyj A are growing +51.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Martela Oyj A (MARAS) generate?
The free cash flow of Martela Oyj A is €3.7M (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 Martela Oyj A (MARAS) carry?
The net debt of Martela Oyj A is €18.1M (fiscal year 2025, ≈ 5.0 yrs of FCF). 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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