Martela Oyj (MARAS) Fair Value & Analysis

Consumer Cyclical · FI · Market cap €2.4M

A solid business, screening 38% undervalued on our models.

What matters now

• Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
• A fairly wide model range (€0.5268 to €1.03) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €0.4260 – €3.52 · fair‑value band €0.5268 – €1.03 · the €0.5300 price screens below the €0.7301 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Martela Oyj (MARAS) currently trades at €0.5300, while our model-based Fair Value estimate is €0.7301, implying the stock looks roughly 37.8% undervalued today. The Quality Score stands at 52/100 (solid quality), in the Consumer Cyclical 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, Martela Oyj generated revenue of €85.5M at a net margin of -4.4%. Revenue declined 31.7% year over year. Net debt stands at €18.1M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €0.5268 (bear case) to €1.03 (bull case); at €0.5300, 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 58% below its 52-week high and 29% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 16% fair-value upside, at 38%, MARAS screens cheaper 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.

Widest divergence: Multiples (€12.42) versus Dividend Discount (€0.8300). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

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; …

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Martela Oyj 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.

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Peer Group

Furnishings, Fixtures & Appliances · 311 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.

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

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.

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Values & ESG

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

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

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Frequently asked questions

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.