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Marinomed Biotech AG (MARI) Fair Value & Analysis

Healthcare · AT · Market cap €7.6M

MB Marinomed Biotech AG MARI · VI
Price€5.40
Fair Value€5.94
Upside+10.0%
Quality59/100
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Weak Growth
Negative equity (buybacks among others) · negative free cash flow
Ranks above peers (6/8)
Narrow moat 10/100
Evidence: Low Range €4.45 – €7.42 Share as image

Fair value as of: May 31, 2026

From 7 valuation models · updated 71 days ago

Share price −42.9% over the past month.

A solid business, screening 10% undervalued on our models.

What matters now

  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • Our model range runs from €4.45 (bear) to €7.42 (bull), base €5.94. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 59/100 (solid quality) with low evidence: read the verdict with care.
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Price vs Fair Value (5 years)

€127.00 €3.80 Fair Value €5.94 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of May 31, 2026.

How to read this chart

60‑month range €3.80 – €127.00 · fair‑value band €4.45 – €7.42 · the €5.40 price screens below the €5.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of May 31, 2026.

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Analysis

Marinomed Biotech AG (MARI) currently trades at €5.40, while our model-based Fair Value estimate is €5.94, implying the stock looks roughly 10.0% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Healthcare 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: low), always confirm before acting.

Trailing-twelve-month revenue stands at €8.0M. Revenue declined 76.9% year over year. Net debt stands at €10.5M. The stock trades on a trailing P/E of 1.8. Fundamentals as of May 31, 2026

Our scenario range runs from €4.45 (bear case) to €7.42 (bull case); at €5.40, 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 74% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at 10%, MARI 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.

Model BearBaseBull Evidence
Highest evidence
Growth-Adj P/E €118.73 €169.61 €220.49 68
P/E Multiple €148.73 €198.30 €247.88 63
P/S Multiple €10.10 €13.47 €16.83 58
All 7 models by family
Earnings-Based
Graham-Dodd €61.29 €173.98 €229.16 54
Lynch FV €35.46 €50.66 €65.85 50
PEG = 1.0 €35.46 €50.66 €65.85 46
Multiples
P/E Multiple €148.73 €198.30 €247.88 63
P/S Multiple €10.10 €13.47 €16.83 58
EV/EBITDA €0.4800 €1.24 54
Growth Earnings
Growth-Adj P/E €118.73 €169.61 €220.49 68

Widest divergence: Growth Earnings (€169.61) versus Multiples (€13.47). Highest evidence: Growth-Adj P/E (68).

Key figures & financial health

Revenue (TTM) €8.0M
Revenue growth (YoY) -76.9%
Net margin 226%
Return on equity -395%
Free cash flow −€1.1M FY2025
P/E ratio 0.4
More key figures
Operating margin -428%
EPS (TTM) €9.76
Net debt €10.5M FY2025

Figures from reported company fundamentals · as of May 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 61 · Market factors (momentum, volatility) 17

Profitability 100
Margins and returns on capital today
Quality Growth 100
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 27
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 25
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

Marinomed Biotech AG operates as a biopharmaceutical company in Austria, other European countries, and internationally. Its lead products include Budesolv for the treatment of allergic rhinitis in late-stage clinical development; and Tacrosolv for the treatment of inflammatory eye diseases in Phase II clinical studies.

Full company description

Marinomed Biotech AG operates as a biopharmaceutical company in Austria, other European countries, and internationally. Its lead products include Budesolv for the treatment of allergic rhinitis in late-stage clinical development; and Tacrosolv for the treatment of inflammatory eye diseases in Phase II clinical studies. The company also develops Satiasolv for pain immune reactions in the preclinical development phase. In addition, it provides Solv4U for formulation development and biopharmaceutical testing services. The company was formerly known as Marinomed Biotechnologie GmbH and changed its name to Marinomed Biotech AG in June 2017. Marinomed Biotech AG was incorporated in 2006 and is headquartered in Korneuburg, Austria.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Marinomed Biotech AG reported revenue of €7.7M in FY2025 versus €11.6M in FY2021, a compound −9.8%/yr. Reported net income was €18.0M in FY2025.

Growth Quality 27/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€7.7M
Latest YoY
+62.0%
Avg. growth/yr (3Y)
−12.0%
Avg. growth/yr (5Y)
−1.1%
Avg. growth/yr (10Y)
+11.3%
Revenue −9.8%/yr
FY21 €11.6M
FY22 €11.3M
FY23 €9.1M
FY24 €4.7M
FY25 €7.7M
Net income
FY21 −€5.9M
FY22 −€6.4M
FY23 −€6.4M
FY24 −€15.4M
FY25 €18.0M

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Cite: Fair Value Calculator (2026). "Marinomed Biotech AG Fair Value". https://www.fairvalue-calculator.com/stock/MARI

Peer Group

Biotechnology · 603 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 59 · Top 25%
Fair Value upside +10% · Top 25%
Return on assets -2% · Above median
Revenue growth -77% · Bottom 25%

Valuation Multiples vs Biotechnology median · lower = cheaper

P/E (TTM) 0.4× · Cheaper than 75% of peers
P/S (TTM) 1.10× · Cheaper 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 47 · sector 0
FUTURE 0 · sector 0
PAST 0 · sector 0
HEALTH 100 · sector 97
DIVIDEND 0 · sector 23

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.

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 Biotechnology stocks, each showing price versus our Fair Value estimate (as of May 31, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $486.03 $278.78 -43%
Regeneron Pharmaceuticals, Inc REGN $664.45 $594.40 -11%
Samsung Biologics Co 207940 1,368,000 KRW 1,091,384 KRW -20%
Celltrion, Inc 068270 175,800 KRW 76,325 KRW -57%
WuXi Biologics (Cayman) Inc 2269 HK$39.54 HK$30.42 -23%
Innovent Biologics, Inc 1801 HK$86.70 HK$19.66 -77%
Sino Biopharmaceutical Limited 1177 HK$5.26 HK$3.36 -36%
ALTEOGEN Inc 196170 276,500 KRW 44,444 KRW -84%
RemeGen Co 688331 ¥134.02 ¥26.99 -80%
Biocon Limited BIOCON ₹440.70 ₹57.36 -87%

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Frequently asked questions

Is Marinomed Biotech AG (MARI) overvalued or undervalued?
As of May 31, 2026, our model estimates a fair value of €5.94 versus a price of €5.40, about +10% (undervalued).
What is the fair value of MARI?
Our model-based fair value for Marinomed Biotech AG is €5.94 (as of May 31, 2026), built from audited fundamentals. The current price is €5.40.
What is the quality score of MARI?
Marinomed Biotech AG has a Quality Score of 59/100. 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 Marinomed Biotech AG (MARI)?
Marinomed Biotech AG reported trailing-twelve-month revenue of about €8.0M (latest available figure, as of May 31, 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.

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