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Wendel (MF) Fair Value & Analysis

Financial Services · FR · Market cap €3.1B

W Wendel MF · PA
Price€86.80
Fair Value€99.74
Upside+14.9%
Quality38/100
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Mixed Growth
Loss-making · -2.0% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (7/14)
Narrow moat 34/100
Evidence: Medium Range €50.25 – €150.42 Share as image

Fair value as of: Jul 13, 2026

From 6 valuation models · updated 28 days ago

Share price +7.5% over the past month.

Below-average quality, screening 15% undervalued on our models.

What matters now

  • The model range is unusually wide (€50.25 to €150.42). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

€100.79 €58.39 Fair Value €99.74 Jun 2021 Aug 2026

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

How to read this chart

60‑month range €58.39 – €100.79 · fair‑value band €50.25 – €150.42 · the €86.80 price screens below the €99.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Wendel (MF) currently trades at €86.80, while our model-based Fair Value estimate is €99.74, implying the stock looks roughly 14.9% undervalued today. The Quality Score stands at 38/100 (below-average quality), in the Financial Services 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, Wendel generated revenue of €7.8B at a net margin of -2.0%. Revenue grew 7.0% year over year. It earns a return on equity of 6.0%. Net debt stands at €3.4B. Fundamentals as of Jul 13, 2026

Our scenario range runs from €50.25 (bear case) to €150.42 (bull case); at €86.80, 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 3% below its 52-week high and 25% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at 15%, MF 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 DCF €374.53 €554.82 €799.78 80
Rev-Margin DCF €225.62 €345.70 €483.58 74
Gordon GGM €59.38 €118.32 €179.17 70
All 6 models by family
DCF Models
Owner Earnings €25.41 €57.45 €103.64 31
Dividend Discount
Gordon GGM €59.38 €118.32 €179.17 70
DDM Multi-Stage €59.38 €94.18 €124.90 61
Asset-Based
NCAV (Graham) €45.16 €60.52 €90.32 50
Growth DCF
Growth DCF €374.53 €554.82 €799.78 80
Rev-Margin DCF €225.62 €345.70 €483.58 74

Widest divergence: Growth DCF (€345.70) versus DCF Models (€57.45). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €7.8B
Revenue growth (YoY) +7.0%
Net margin -2.0%
Return on equity 6.0%
Free cash flow €1.5B FY2025
Operating margin 11.0%
More key figures
EPS (TTM) €-4.01
EPS growth (YoY) -99.1%
Net debt €3.4B FY2025

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

Quality Score breakdown

Overall quality 38/100

Of which business quality 41 · Market factors (momentum, volatility) 58

Profitability 27
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 80
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 4
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

Wendel is a private equity firm specializing in equity financing in middle markets and later stages through leveraged buy-out and transactions and acquisitions. It invests in both listed and non-listed companies. The firm also invest in private debt and secondary.

Full company description

Wendel is a private equity firm specializing in equity financing in middle markets and later stages through leveraged buy-out and transactions and acquisitions. It invests in both listed and non-listed companies. The firm also invest in private debt and secondary. The firm typically invests in btob, education technology, energy transition, technology services, software, business services, healthcare, and industrial technology. The firm seeks to invest in Africa, Europe, European Developed Markets, Western Europe, particularly France, and North America (United States and Canada). It invests between 300 million ($354.04 million) and 800 million ($944.12 million). It targets majority/control/large minority investments in listed or unlisted companies. The firm seeks to take a seat on the board of directors or supervisory board and key committees of its portfolio companies. It makes balance sheet investments. Wendel was founded in 1704 and is headquartered in Paris, France with additional offices across Asia, North America, United Kingdom and Europe.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wendel reported revenue of €7.6B in FY2025 versus €7.5B in FY2021, a compound +0.2%/yr. Reported net income was −€152M in FY2025.

Growth Quality 47/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€7.6B
Latest YoY
−6.1%
Avg. growth/yr (3Y)
−4.5%
Avg. growth/yr (5Y)
+2.1%
Avg. growth/yr (24Y)
+11.9%
Revenue +0.2%/yr
FY21 €7.5B
FY22 €8.7B
FY23 €7.1B
FY24 €8.1B
FY25 €7.6B
Net income
FY21 €1.0B
FY22 €71.2M
FY23 €142M
FY24 €294M
FY25 −€152M

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Cite: Fair Value Calculator (2026). "Wendel Fair Value". https://www.fairvalue-calculator.com/stock/MF

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Asset Management · 973 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 39 · Bottom 25%
Fair Value upside +15% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 3% · Above median
Net margin (TTM) -2% · Bottom 25%
Operating margin (TTM) 11% · Below median
Revenue growth 7% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 1.35× · Higher than 75% of peers

Valuation Multiples vs Asset Management median · lower = cheaper

P/B 1.02× · Pricier than median
P/S (TTM) 0.46× · Cheaper than 75% of peers
P/FCF 2.4× · Cheaper than 75% of peers
EV/EBITDA 4.4× · Cheaper than 75% of peers
PEG 0.78× · 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 53 · sector 37
FUTURE 35 · sector 6
PAST 24 · sector 26
HEALTH 33 · sector 95
DIVIDEND 0 · sector 69

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 Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Fondul Proprietatea SA FP $0.0420 $0.0800 +90%
BlackRock, Inc BLK $1,136 $465.75 -59%
Blackstone Inc BX $124.56 $16.35 -87%
Investor AB INVEB kr 423.70 kr 847.40 +100%
Brookfield Corporation BN C$62.45 C$10.12 -84%
KKR & Co KKR $100.94 $44.88 -56%
AB Industrivärden INDUA kr 532.50 kr 1,065 +100%
Jio Financial Services Limited JIOFIN ₹242.98 ₹40.19 -83%
Hedef Holding HEDEF 267.25 TRY 320.98 TRY +20%
Bajaj Holdings BAJAJHLDNG ₹10,398 ₹9,202 -12%

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Frequently asked questions

Is Wendel (MF) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of €99.74 versus a price of €86.80, about +15% (undervalued).
What is the fair value of MF?
Our model-based fair value for Wendel is €99.74 (as of Jul 13, 2026), built from audited fundamentals. The current price is €86.80.
What is the quality score of MF?
Wendel has a Quality Score of 38/100. 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 Wendel (MF)?
Wendel reported trailing-twelve-month revenue of about €7.8B (latest available figure, as of Jul 13, 2026).
What is the net profit margin of MF?
The net profit margin of Wendel is about -2.0%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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