Miquel y Costas & Miquel, S.A (MCM) Fair Value & Analysis
Basic Materials · ES · Market cap €512M
Fair value as of: Jul 16, 2026
From 25 valuation models · updated 25 days ago
Fair value updated Jul 16, 2026, revised from €10.85 to €10.87 (+0.2%) since Jun 24, 2026. Share price −1.3% over the past month.
A solid business, but screening 21% overvalued on our models.
What matters now
- Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (€9.68 to €17.43) 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 16, 2026.
How to read this chart
60‑month range €9.23 – €14.58 · fair‑value band €9.68 – €17.43 · the €13.70 price screens above the €10.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
Miquel y Costas & Miquel, S.A (MCM) currently trades at €13.70, while our model-based Fair Value estimate is €10.87, implying the stock looks roughly 20.7% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Miquel y Costas & Miquel, S.A generated revenue of €304M at a net margin of 13.9%. Revenue declined 13.5% year over year. It earns a return on equity of 11.4%. Net debt stands at €37.5M. Fundamentals as of Jul 16, 2026
Our scenario range runs from €9.68 (bear case) to €17.43 (bull case); at €13.70, 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 7% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at -21%, MCM screens richer 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.
All 25 models by family
Widest divergence: Multiples (€18.95) versus Growth DCF (€3.01). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 57 · Market factors (momentum, volatility) 57
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
Miquel y Costas & Miquel, S.A., together with its subsidiaries, engages in the manufacture and sale of thin and special lightweight paper for the tobacco industry in Spain, the European Union, OECD countries, and internationally.
Full company description
Miquel y Costas & Miquel, S.A., together with its subsidiaries, engages in the manufacture and sale of thin and special lightweight paper for the tobacco industry in Spain, the European Union, OECD countries, and internationally. The company offers cigarette tissue, tipping paper, plug wrap paper, rolling paper booklets, textile pups for tobacco industry; specialty paper, decorative laminates, pasting paper, paper for tea bags and coffee capsules, greaseproof paper, paper certified, straw paper, paper for cases and packages, filter paper, security paper, and papers for perfumes and hairdressing; and porous pulps products. It also provides printing paper comprising stationery papers, pharma paper, and paper for religious books. Miquel y Costas & Miquel, S.A. was founded in 1752 and is based in Barcelona, Spain.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Miquel y Costas & Miquel, S.A reported revenue of €314M in FY2025 versus €301M in FY2021, a compound +1.0%/yr. Reported net income was €45.1M in FY2025, compounding −2.9%/yr from FY2021.
MCM screens 21% overvalued. Compare with Klabin S.A →
Peer Group
Paper & Paper Products · 113 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 Paper & Paper Products 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.
Insider activity: 45/100
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.
Similar stocks
10 more Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Klabin S.A KLBN11 | R$17.58 | R$3.89 | -78% |
| UPM-Kymmene Oyj UPM | €23.45 | €15.47 | -34% |
| Suzano S.A SUZB3 | R$41.70 | R$138.01 | +231% |
| Svenska Cellulosa Aktiebolaget SCA (publ) SCAB | kr 103.00 | kr 49.40 | -52% |
| Shandong Sunpaper Co 002078 | ¥14.13 | ¥17.29 | +22% |
| Holmen AB HOLMB | kr 305.40 | kr 217.72 | -29% |
| Nine Dragons Paper (Holdings) Limited 2689 | HK$7.55 | HK$8.73 | +16% |
| Empresas CMPC S.A CMPC | 1,078 CLP | 1,269 CLP | +18% |
| Xianhe Co 603733 | ¥22.05 | ¥24.32 | +10% |
| Billerud AB BILL | kr 68.70 | kr 48.60 | -29% |
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Frequently asked questions
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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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