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Marimekko Oyj (MEKKO) Fair Value & Analysis

Consumer Cyclical · FI · Market cap €426M

MO Marimekko Oyj MEKKO · HE
Price€9.65
Fair Value€12.56
Upside+30.2%
Quality80/100
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Healthy Growth
Solidly profitable · 13.2% net margin
generates free cash flow
3.98% dividend yield
Ranks above peers (10/14)
Wide moat 72/100
Evidence: High Range €9.46 – €15.66 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Share price −9.5% over the past month.

A strong business, screening 30% undervalued on our models.

What matters now

  • The rarer combination: high quality (80/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • Our model range runs from €9.46 (bear) to €15.66 (bull), base €12.56. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 80/100 (high quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€15.26 €7.17 Fair Value €12.56 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range €7.17 – €15.26 · fair‑value band €9.46 – €15.66 · the €9.65 price screens below the €12.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Marimekko Oyj (MEKKO) currently trades at €9.65, while our model-based Fair Value estimate is €12.56, implying the stock looks roughly 30.2% undervalued today. The Quality Score stands at 80/100 (high 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: high), always confirm before acting.

Over the trailing twelve months, Marimekko Oyj generated revenue of €191M at a net margin of 13.2%. Revenue grew 4.5% year over year. It earns a return on equity of 32.3%. The balance sheet holds a net cash position of €6.9M. Fundamentals as of Aug 13, 2026

Our scenario range runs from €9.46 (bear case) to €15.66 (bull case); at €9.65, 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 29% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 27% fair-value upside, at 30%, MEKKO 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 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
Highest evidence
Residual Income €3.13 €3.72 €10.72 76
Growth DCF €10.86 €18.11 €29.50 72
Gordon GGM €5.07 €9.13 €12.57 70
All 26 models by family
DCF Models
FCF DCF €11.53 €16.42 €31.02 38
Owner Earnings €10.82 €21.46 €41.19 31
5Y Revenue Exit €7.23 €10.79 €18.17 39
5Y EBITDA Exit €10.73 €17.87 €31.85 41
5Y P/E Exit €11.18 €23.17 €39.39 38
10Y Revenue Exit €8.56 €15.20 €18.68 36
10Y EBITDA Exit €11.05 €22.09 €40.91 37
10Y P/E Exit €11.35 €22.97 €41.77 35
Earnings-Based
Graham-Dodd €4.10 €28.58 €40.11 54
Lynch FV €14.77 €21.10 €27.42 50
PEG = 1.0 €14.77 €21.10 €27.42 46
EPV €5.98 €6.68 €7.25 59
Dividend Discount
Gordon GGM €5.07 €9.13 €12.57 70
DDM Multi-Stage €5.07 €8.34 €9.75 61
Multiples
P/E Multiple €9.95 €13.26 €16.58 63
P/S Multiple €4.22 €5.62 €7.03 58
P/B Multiple €5.51 €7.34 €9.18 55
EV/EBIT €11.51 €15.04 €18.58 53
EV/EBITDA €10.20 €13.30 €16.39 54
EV/Revenue €4.84 €6.52 €8.21 43
Asset-Based
NCAV (Graham) €0.9200 €1.23 €1.84 50
Growth DCF
Growth DCF €10.86 €18.11 €29.50 72
Rev-Margin DCF €7.82 €12.23 €21.52 67
Economic Profit
Residual Income €3.13 €3.72 €10.72 76
ROIC Compounder €6.88 €8.91 €11.23 67
Growth Earnings
Growth-Adj P/E €19.60 €28.00 €36.40 68

Widest divergence: Growth Earnings (€28.00) versus Asset-Based (€1.23). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) €191M
Revenue growth (YoY) +4.5%
Net margin 13.2%
Return on equity 32.3%
Free cash flow €31.6M FY2025
P/E ratio 15.6
More key figures
Operating margin 12.3%
EPS (TTM) €0.6200
Dividend yield 4.0%
EPS growth (YoY) +24.5%
Net cash €6.9M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 80/100

Of which business quality 80 · Market factors (momentum, volatility) 36

Profitability 91
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 73
Earnings quality: real cash, not paper profit
Fin. Strength 96
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 28
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 80
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

Marimekko Oyj, a lifestyle design company, designs, manufactures, and sells clothing, bags and accessories, and interior decoration products worldwide. The company offers various clothes, such as dresses, denim, knitwear, tops, nightwear and loungewear, bottoms, and coats and jackets, as well as kids clothing products.

Full company description

Marimekko Oyj, a lifestyle design company, designs, manufactures, and sells clothing, bags and accessories, and interior decoration products worldwide. The company offers various clothes, such as dresses, denim, knitwear, tops, nightwear and loungewear, bottoms, and coats and jackets, as well as kids clothing products. It provides crossbody bags, shoulder bags, knitted bags, and mini bags, as well as coin purses, wallets, and backpacks. In addition, the company offers printed fabrics; kitchen textiles and napkins; cosmetic bags; dining, home textiles, rugs, furniture, vases and candleholders, bedding, and towels and bathrobes products; and accessories, including hats, scarves, jewelry, hair accessories, socks, key chain, and umbrellas. Marimekko Oyj was incorporated in 1951 and is headquartered in Helsinki, Finland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Marimekko Oyj reported revenue of €190M in FY2025 versus €152M in FY2021, a compound +5.6%/yr. Reported net income was €24.4M in FY2025, compounding −0.0%/yr from FY2021.

Growth Quality 88/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€190M
Latest YoY
+3.8%
Avg. growth/yr (3Y) 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.
+4.4%
Avg. growth/yr (5Y) 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.
+8.9%
Avg. growth/yr (24Y) 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.
+42.0%
Revenue +5.6%/yr
FY21 €152M
FY22 €167M
FY23 €174M
FY24 €183M
FY25 €190M
Net income −0.0%/yr
FY21 €24.4M
FY22 €22.7M
FY23 €23.6M
FY24 €24.4M
FY25 €24.4M
Character of growth · EPS growth decomposed (2014-2025) +26.1 % p.a.
Revenue per share +7.3 pp

of which total revenue +7.3 pp · buybacks/dilution +0.0 pp

EBIT margin +16.8 pp
Tax rate +0.6 pp
Residual (interest, one-offs) +1.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Marimekko Oyj Fair Value". https://www.fairvalue-calculator.com/stock/MEKKO

Peer Group

Apparel Manufacturing · 214 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 80 · Top 25%
Fair Value upside +30% · Above median
Return on equity (TTM) 32% · Top 25%
Return on assets 16% · Top 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 12% · Top 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 4.0% · Above median

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 15.6× · Cheaper than median
P/B 6.63× · Pricier than 75% of peers
P/S (TTM) 2.58× · Pricier than 75% of peers
P/FCF 15.6× · Pricier than 75% of peers
EV/EBITDA 13.2× · Pricier than median
PEG 1.43× · Cheaper than median

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 74 · sector 29
FUTURE 23 · sector 5
PAST 100 · sector 21
HEALTH 0 · sector 98
DIVIDEND 80 · sector 50

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 Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 174.25 kr 165.47 -5%
LPP SA LPP 22,220 PLN 17,754 PLN -20%
Bosideng International Holdings 3998 HK$4.65 HK$5.92 +27%
Youngor Fashion Co 600177 ¥7.78 ¥5.59 -28%
Page Industries Limited PAGEIND ₹38,295 ₹12,395 -68%
Hla Group 600398 ¥6.07 ¥9.92 +63%
Youngone Corporation 111770 85,200 KRW 188,736 KRW +122%
F&F Co 383220 68,800 KRW 179,500 KRW +161%
Youngone Holdings 009970 188,300 KRW 697,038 KRW +270%
Wiselink Co 8932 105.00 TWD 37.95 TWD -64%

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Frequently asked questions

Is Marimekko Oyj (MEKKO) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €12.56 versus a price of €9.65, about +30% (undervalued).
What is the fair value of MEKKO?
Our model-based fair value for Marimekko Oyj is €12.56 (as of Aug 13, 2026), built from audited fundamentals. The current price is €9.65.
What is the quality score of MEKKO?
Marimekko Oyj has a Quality Score of 80/100. 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 Marimekko Oyj (MEKKO)?
Marimekko Oyj reported trailing-twelve-month revenue of about €191M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of MEKKO?
The net profit margin of Marimekko Oyj is about 13.2%, meaning it keeps roughly 13.2% of revenue as net income. Based on the latest reported figures.
Does Marimekko Oyj pay a dividend?
Marimekko Oyj currently shows a dividend yield of about 4.05% relative to its recent price (as of Aug 13, 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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