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Marinomed Biotech AG (MARI) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Marinomed Biotech AG €5.94, price €4.00, upside +48.5%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Healthcare · AT · ISIN ATMARINOMED6

MB Thin data May 31, 2026

Marinomed Biotech AG

MARI · VI

UndervaluedThe stock appears undervalued with acceptable quality.

✓Fair value €5.94 · Undervalued (+49%)
!Quality 59/100
!Weak Growth (revenue 5y −1.1 %/yr)
!Negative equity (buybacks among others) · negative free cash flow
✓Ranks above peers (5/6)
!Narrow moat 10/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€123.50 €3.80 Fair Value €5.94 Jul 2021 Sep 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 – €123.50 · fair‑value band €4.45 – €7.42 · the €4.00 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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Company profile

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.

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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.

Stock analysis

Marinomed Biotech AG (MARI) currently trades at €4.00, while our model-based Fair Value estimate is €5.94, implying the stock looks roughly 32.7% undervalued today.

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Valuation

Bull case: the Earnings-Based group reads highest at a median of €50.66 per share, and 6 of the 7 models we run sit above the €4.00 price.

Bear case: the Multiples group reads lowest at €13.47, and 1 of the 7 models stay below the price. Evidence for this calculation is low.

Scenario range: €4.45 (bear) to €7.42 (bull), the price of €4.00 sits below 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 59/100 (solid quality), in the Healthcare sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

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.

Key figures

Market cap €7.4M · P/E ratio 0.4 · P/S ratio 0.96 · EPS (TTM) €9.76 · Net margin 226% · Return on equity −395% · Return on assets (EBIT) −34.2% · Operating margin −428%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 34 out of 100 (low confidence).

What moves the price

The share trades about 81% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at 49%, MARI screens cheaper than that median.

Fair Value models

Bear €4.45 Fair Value €5.94 Bull €7.42
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€3.98 per share) are deliberately not added. 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.
Highest evidence
Growth-Adj P/E €118.73 €169.61 €220.49 67
Graham-Dodd €61.29 €173.98 €229.16 65
P/E Multiple €148.73 €198.30 €247.88 63
All 7 models by family
Earnings-Based
Graham-Dodd €61.29 €173.98 €229.16 65
Lynch FV €35.46 €50.66 €65.85 61
PEG = 1.0 €35.46 €50.66 €65.85 57
Multiples
P/E Multiple €148.73 €198.30 €247.88 63
P/S Multiple €10.10 €13.47 €16.83 58
EV/EBITDA n/a €0.4800 €1.24 62
Growth Earnings
Growth-Adj P/E €118.73 €169.61 €220.49 67

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Quality Score breakdown

Overall quality 59/100

Of which business quality 61 · Market factors (momentum, volatility) 15

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 1
Distance to the 52-week high (market factor)
Net Issuance 25
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 27/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+62.0%
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.
−12.0%
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.
−1.1%
Start year 2020 (pandemic). Over 10 years: +11.3% a year
Revenue growth 10 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.
+11.3%
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.
−72.1% (2020) → −3.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

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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.Biotechnology · 651 stocks

Beats the industry median on 5/6 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 62 · Top 25%
Fair Value upside +49% · Top 25%
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% · Above median
Growth and dividend
Revenue growth −77% · Bottom 25%
Balance sheet
Debt / equity 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.

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/E (TTM) 0.4× · Cheapest 25%
P/B 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.
P/S (TTM) 1.06× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)98 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 97
DIVIDEND (yield)0 · sector 23

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

Context: sector, industry, market

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

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $514.99 $566.49 +10%
Regeneron Pharmaceuticals, Inc REGN $803.90 $1,252 +56%
argenx SE ARGX $963.79 $918.60 −5%
Samsung Biologics Co 207940 1,366,000 KRW 1,502,600 KRW +10%
CSL Limited CSL A$179.24 A$197.16 +10%
Alnylam Pharmaceuticals, Inc ALNY $251.65 $218.36 −13%
Royalty Pharma plc RPRX $58.52 $24.22 −59%
Celltrion, Inc 068270 177,400 KRW 74,519 KRW −58%
BeOne Medicines AG ONC $368.08 $280.94 −24%
BioNTech SE BNTX $100.87 $63.62 −37%

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Marinomed Biotech AG · Fair Value
€5.94 +33%Fair Value
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Cite: Fair Value Calculator (2026). "Marinomed Biotech AG Fair Value". https://www.fairvalue-calculator.com/stock/MARI

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 €4.00, about +49% upside (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: €4.00.
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 price target for Marinomed Biotech AG (MARI)?
Our model-based price target is the fair value of €5.94 (as of May 31, 2026) from 7 valuation models. Cautious scenario €4.45, optimistic scenario €7.42. It is a calculation from audited fundamentals, not an analyst target.
What is the Marinomed Biotech AG stock forecast for 2026?
Our models put fair value at €5.94, about +49% upside versus a price of €4.00 (undervalued). Cautious scenario €4.45, optimistic scenario €7.42. The calculation is refreshed regularly with new filings.
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).
What is the intrinsic value of Marinomed Biotech AG (MARI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Marinomed Biotech AG it is €5.94 per share (as of May 31, 2026), against a price of €4.00. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Marinomed Biotech AG stock overvalued or undervalued in 2026?
As of May 31, 2026, MARI trades below its calculated fair value: price €4.00, fair value €5.94, a gap of about +49% (undervalued). 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 MARI?
No. The price is what the market pays today (€4.00); the fair value is what the company's own numbers justify (€5.94). For Marinomed Biotech AG the two are €1.94 per share apart. That gap is exactly why we show both numbers side by side.
How much is Marinomed Biotech AG worth?
The market values Marinomed Biotech AG at about €7.4M (market capitalisation, as of May 31, 2026). Per share that is €4.00; our models calculate a fair value of €5.94 per share.
What do the bullish and bearish scenarios say about MARI?
Our models span a range for Marinomed Biotech AG: cautious scenario €4.45, base €5.94, optimistic €7.42 per share (as of May 31, 2026, price €4.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MARI?
Marinomed Biotech AG trades at a price-to-earnings ratio of 0.4 (as of May 31, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €5.94 is built from several models across several years. Other multiples: P/S 1.1.
How solid is the balance sheet of Marinomed Biotech AG (MARI)?
Balance-sheet figures for Marinomed Biotech AG (as of May 31, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is MARI from its 52-week high?
Marinomed Biotech AG trades at €4.00, about 81% below its 52-week high of €21.00 and 5% above the low of €3.80 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of €5.94 is for.
Which stocks are comparable to Marinomed Biotech AG?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics 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 Marinomed Biotech AG stock attractive at the current price?
The data as of May 31, 2026: price €4.00, calculated fair value €5.94 (+49%), Quality Score 59/100, from 7 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 MARI calculated?
We run Marinomed Biotech AG through 7 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 €5.94, 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 14.1 % above its aggregate fair value. Marinomed Biotech AG currently trades 49 % below its own fair value, and the market average says nothing about that. 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 Marinomed Biotech AG (MARI)?
The closing price on Sep 23, 2026 was €4.00. Our model-based fair value is €5.94, about +49% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Marinomed Biotech AG right now?
The price is below even our cautious bear case (€4.45). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Marinomed Biotech AG

How large is the market capitalisation of Marinomed Biotech AG (MARI)?
The market capitalisation of Marinomed Biotech AG is €7.4M. 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 Marinomed Biotech AG (MARI)?
The price-to-sales ratio of Marinomed Biotech AG is 0.96 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Marinomed Biotech AG (MARI)?
Earnings per share at Marinomed Biotech AG are €9.76 (price ÷ EPS = P/E 0.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Marinomed Biotech AG (MARI)?
The net margin of Marinomed Biotech AG is 226% (last twelve months). 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 Marinomed Biotech AG (MARI)?
The return on equity (ROE) of Marinomed Biotech AG is −395% (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 Marinomed Biotech AG (MARI)?
On an EBIT basis the return on assets of Marinomed Biotech AG is −34.2% (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 Marinomed Biotech AG (MARI)?
The operating margin of Marinomed Biotech AG is −428% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Marinomed Biotech AG (MARI)?
Revenue at Marinomed Biotech AG is growing −76.9% versus a year earlier (3y avg −12.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Marinomed Biotech AG (MARI) generate?
The free cash flow of Marinomed Biotech AG is −€1.1M (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 Marinomed Biotech AG (MARI) carry?
The net debt of Marinomed Biotech AG is €10.5M (fiscal year 2025). 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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