Mermaid Maritime Public Company Limited (MMMPF) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of Mermaid Maritime Public Company Limited $0.08, price $0.08, upside -6.4%, quality 30 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
25‑month range $0.0764 – $0.1763 · fair‑value band $0.0574 – $0.0973 · the $0.0803 price screens above the $0.0752 fair value. Dashed = 300-day average. As of Sep 23, 2026.
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Mermaid Maritime Public Company Limited, together with its subsidiaries, operates as a subsea and offshore services company in Thailand, Qatar, Nigeria, India, the United Arab Emirates, the United Kingdom, Angola, Malaysia, Singapore, Mauritius, Vietnam, and Saudi Arabia. It operates through two segments, Subsea Group and Holding.
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Mermaid Maritime Public Company Limited, together with its subsidiaries, operates as a subsea and offshore services company in Thailand, Qatar, Nigeria, India, the United Arab Emirates, the United Kingdom, Angola, Malaysia, Singapore, Mauritius, Vietnam, and Saudi Arabia. It operates through two segments, Subsea Group and Holding. The company offers various subsea services, including inspection, repair and maintenance, infrastructure installation support, remotely operated vehicle support, and cable and flexible pipe laying services. It is also involved in the operation of 8 subsea vessels; diving/remotely operated vehicle; provision of submarine products installation services, such as installation engineering, cable transportation, surveys, cable installation with accessories, shore and platform cable pull ins, as well as inspection, repair, and maintenance of subsea cables; and offshore construction support, offshore survey, surface and subsea positioning, equipment and software, and personnel services. The company was incorporated in 1983 and is headquartered in Bangkok, Thailand. Mermaid Maritime Public Company Limited operates as a subsidiary of Thoresen Thai Agencies Public Company Limited.
Stock analysis
Mermaid Maritime Public Company Limited (MMMPF) currently trades at $0.0803, while our model-based Fair Value estimate is $0.0752, implying the stock looks roughly 6.8% fairly valued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $0.2000 per share, and 15 of the 24 models we run sit above the $0.0803 price.
Bear case: the Economic Profit group reads lowest at $0.0200, and 9 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: $0.0574 (bear) to $0.0973 (bull), the price of $0.0803 sits inside 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 30/100 (below-average quality), in the Energy sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Mermaid Maritime Public Company Limited reported revenue of $489M in FY2025 versus $112M in FY2021, a compound +44.7%/yr. Reported net income was $7.2M in FY2025.
Key figures
Market cap $152M · P/E ratio 8.0 · P/S ratio 0.12 · EPS (TTM) $0.0100 · Net margin 1.5% · Return on equity 5.7% · Return on assets (EBIT) 0.5% · Operating margin −5.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 5% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −23% fair-value upside, at −6%, MMMPF screens cheaper than that median.
Fair Value models
Bear $0.0574Fair Value $0.0752Bull $0.0973
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.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.
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.79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−4.7%
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.
+29.8%
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.
+42.3%
Start year 2020 (pandemic)
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−17.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−17.5%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.−31% → 2%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−4.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −6.4% a year for the price.
Compare Mermaid Maritime Public Company Limited with another stock
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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.Oil & Gas Equipment & Services · 190 stocks
Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score30 · Bottom 25%
Fair Value upside−6% · Above median
Profitability
Return on equity (TTM)6% · Below median
Return on assets1% · Below median
Net margin (TTM)3% · Below median
Operating margin (TTM)−6% · Bottom 25%
Growth and dividend
Revenue growth−35% · Bottom 25%
Dividend yield (TTM)39.7% · Top 25%
Balance sheet
Debt / equity0.35× · Above median
Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Mermaid Maritime Public Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/MMMPF
Frequently asked questions
Is Mermaid Maritime Public Company Limited (MMMPF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $0.0752 versus the last price from Sep 18, 2026 of $0.0803, about −6% upside (fairly valued).
What is the fair value of MMMPF?
Our model-based fair value for Mermaid Maritime Public Company Limited is $0.0752 (as of Sep 23, 2026), built from audited fundamentals. Last price (from Sep 18, 2026): $0.0803.
What is the quality score of MMMPF?
Mermaid Maritime Public Company Limited has a Quality Score of 30/100. 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 Mermaid Maritime Public Company Limited (MMMPF)?
Our model-based price target is the fair value of $0.0752 (as of Sep 23, 2026) from 24 valuation models. Cautious scenario $0.0574, optimistic scenario $0.0973. It is a calculation from audited fundamentals, not an analyst target.
What is the Mermaid Maritime Public Company Limited stock forecast for 2026?
Our models put fair value at $0.0752, about −6% upside versus the last price from Sep 18, 2026 of $0.0803 (fairly valued). Cautious scenario $0.0574, optimistic scenario $0.0973. The calculation is refreshed regularly with new filings.
What growth is priced into Mermaid Maritime Public Company Limited (MMMPF)?
For today's price to be fair in a discounted-cash-flow model, Mermaid Maritime Public Company Limited would have to grow free cash flow by -4.2 % per year for five years (discount rate 11.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +42.3 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of MMMPF use?
Our models discount Mermaid Maritime Public Company Limited at 11.4 %: a base by market capitalisation (micro), damped by beta 0.57, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Mermaid Maritime Public Company Limited that is -4.2 % per year a year over ten years, using the same discount rate (11.4 %) and the same formula as our fair value.
How much growth has Mermaid Maritime Public Company Limited (MMMPF) delivered so far?
Over the past 5 years revenue at Mermaid Maritime Public Company Limited grew +42.3 % a year. The price currently implies -4.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Mermaid Maritime Public Company Limited (MMMPF) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Mermaid Maritime Public Company Limited (-4.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Mermaid Maritime Public Company Limited (MMMPF)?
The free-cash-flow yield on the price is 15.74 %: that much free cash flow Mermaid Maritime Public Company Limited produces per unit of market value. When it exceeds the discount rate of our models (11.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Mermaid Maritime Public Company Limited (MMMPF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mermaid Maritime Public Company Limited it is $0.0752 per share (as of Sep 23, 2026), against a price of $0.0803. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Mermaid Maritime Public Company Limited stock overvalued or undervalued in 2026?
As of Sep 23, 2026, MMMPF trades above its calculated fair value: price $0.0803, fair value $0.0752, a gap of about −6% (fairly valued). 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 MMMPF?
No. The price is what the market pays today ($0.0803); the fair value is what the company's own numbers justify ($0.0752). For Mermaid Maritime Public Company Limited the two are $0.0051 per share apart. That gap is exactly why we show both numbers side by side.
How much is Mermaid Maritime Public Company Limited worth?
The market values Mermaid Maritime Public Company Limited at about $152M (market capitalisation, as of Sep 23, 2026). Per share that is $0.0803; our models calculate a fair value of $0.0752 per share.
What do the bullish and bearish scenarios say about MMMPF?
Our models span a range for Mermaid Maritime Public Company Limited: cautious scenario $0.0574, base $0.0752, optimistic $0.0973 per share (as of Sep 23, 2026, price $0.0803). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MMMPF?
Mermaid Maritime Public Company Limited trades at a price-to-earnings ratio of 8.0 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $0.0752 is built from several models across several years. Other multiples: PEG 1.9.
What is the PEG ratio of MMMPF?
The PEG ratio of Mermaid Maritime Public Company Limited is 1.90 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Mermaid Maritime Public Company Limited (MMMPF)?
Balance-sheet figures for Mermaid Maritime Public Company Limited (as of Sep 23, 2026): return on equity 5.7%, debt of 0.35 per unit of equity. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is MMMPF from its 52-week high?
Mermaid Maritime Public Company Limited trades at $0.0803, about 23% below its 52-week high of $0.1043 and 5% above the low of $0.0764 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of $0.0752 is for.
Which stocks are comparable to Mermaid Maritime Public Company Limited?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, TechnipFMC plc, Halliburton Company, 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 Mermaid Maritime Public Company Limited stock attractive at the current price?
The data as of Sep 23, 2026: price $0.0803, calculated fair value $0.0752 (−6%), Quality Score 30/100, from 24 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 MMMPF calculated?
We run Mermaid Maritime Public Company Limited through 24 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 $0.0752, 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 13.0 % above its aggregate fair value. Mermaid Maritime Public Company Limited itself currently trades above fair value. 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 Mermaid Maritime Public Company Limited (MMMPF)?
The latest price we hold is from Sep 18, 2026 and stands at $0.0803. Our model-based fair value is $0.0752, about −6% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mermaid Maritime Public Company Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Mermaid Maritime Public Company Limited
How large is the market capitalisation of Mermaid Maritime Public Company Limited (MMMPF)?
The market capitalisation of Mermaid Maritime Public Company Limited is $152M. 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 Mermaid Maritime Public Company Limited (MMMPF)?
The price-to-sales ratio of Mermaid Maritime Public Company Limited is 0.12 (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 Mermaid Maritime Public Company Limited (MMMPF)?
Earnings per share at Mermaid Maritime Public Company Limited are $0.0100 (price ÷ EPS = P/E 8.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Mermaid Maritime Public Company Limited (MMMPF)?
The net margin of Mermaid Maritime Public Company Limited is 1.5% (fiscal year 2025). 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 Mermaid Maritime Public Company Limited (MMMPF)?
The return on equity (ROE) of Mermaid Maritime Public Company Limited is 5.7% (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 Mermaid Maritime Public Company Limited (MMMPF)?
On an EBIT basis the return on assets of Mermaid Maritime Public Company Limited is 0.5% (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 Mermaid Maritime Public Company Limited (MMMPF)?
The operating margin of Mermaid Maritime Public Company Limited is −5.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mermaid Maritime Public Company Limited (MMMPF)?
Revenue at Mermaid Maritime Public Company Limited is growing −34.8% versus a year earlier (3y avg +29.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Mermaid Maritime Public Company Limited (MMMPF)?
Earnings per share at Mermaid Maritime Public Company Limited are growing −54.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Mermaid Maritime Public Company Limited (MMMPF) carry?
The net debt of Mermaid Maritime Public Company Limited is $35.5M (fiscal year 2025, ≈ 1.5 yrs of FCF). 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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Thin data
Sep 23, 2026