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Morefield Group (MORE) Fair Value & Analysis

Industrials · NA · Market cap €54.6M

MG Morefield Group MORE · AS
Price€0.9300
Fair Value€1.46
Upside+57.0%
Quality28/100
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Mixed Growth
Thin margins · 2.6% net margin
High debt · negative free cash flow
Mixed vs. peers (7/12)
Narrow moat 44/100
Evidence: High Range €1.09 – €1.82 Share as image

Fair value as of: Jul 17, 2026

From 16 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from €1.49 to €1.46 (−2.0%) since Jun 24, 2026. Share price +4.5% over the past month.

Below-average quality, screening 57% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (28/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (€1.09). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

€0.9400 €0.2080 Fair Value €1.46 Jul 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range €0.2080 – €0.9400 · fair‑value band €1.09 – €1.82 · the €0.9300 price screens below the €1.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Morefield Group (MORE) currently trades at €0.9300, while our model-based Fair Value estimate is €1.46, implying the stock looks roughly 57.0% undervalued today. The Quality Score stands at 28/100 (below-average quality), in the Industrials 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, Morefield Group generated revenue of €162M at a net margin of 2.6%. Revenue grew 76.5% year over year. It earns a return on equity of 20.6%. Net debt stands at €64.3M. Fundamentals as of Jul 17, 2026

Our scenario range runs from €1.09 (bear case) to €1.82 (bull case); at €0.9300, the current price sits below 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 near its 52-week high and 94% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 23% fair-value upside, at 57%, MORE 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 €0.3500 €0.4500 €1.17 76
ROIC Compounder €0.6100 €1.00 €1.27 72
Gordon GGM €0.2300 €0.3800 €0.4900 70
All 16 models by family
Earnings-Based
Graham-Dodd €0.4600 €3.22 €4.52 54
Lynch FV €1.66 €2.38 €3.09 50
PEG = 1.0 €1.66 €2.38 €3.09 46
EPV €0.4700 €0.6100 €0.7100 59
Dividend Discount
Gordon GGM €0.2300 €0.3800 €0.4900 70
DDM Multi-Stage €0.2300 €0.3600 €0.4100 61
Multiples
P/E Multiple €1.12 €1.49 €1.87 63
P/S Multiple €0.8700 €1.15 €1.44 58
P/B Multiple €0.8100 €1.08 €1.35 55
EV/EBIT €1.71 €2.49 €3.28 53
EV/EBITDA €3.21 €4.50 €5.78 54
EV/Revenue €1.14 €1.91 €2.67 43
Asset-Based
NCAV (Graham) €0.1500 €0.2100 €0.3100 50
Economic Profit
Residual Income €0.3500 €0.4500 €1.17 76
ROIC Compounder €0.6100 €1.00 €1.27 72
Growth Earnings
Growth-Adj P/E €2.21 €3.16 €4.10 68

Widest divergence: Growth Earnings (€3.16) versus Asset-Based (€0.2100). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) €162M
Revenue growth (YoY) +76.5%
Net margin 2.6%
Return on equity 20.6%
Free cash flow −€507K FY2025
P/E ratio 18.1
More key figures
Operating margin 7.6%
EPS (TTM) €0.0500
EPS growth (YoY) +50.0%
Net debt €64.3M FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 28/100

Of which business quality 31 · Market factors (momentum, volatility) 79

Profitability 52
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 16
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 87
Distance to the 52-week high (market factor)
Net Issuance 3
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

Morefield Group N.V., through its subsidiaries, engages in selecting, advising, supplying, and maintaining aids for people with a physical disability in Curaçao. The company sells, rents and other services related to medical devices. It serves municipalities, care offices, health insurers and healthcare institutions, as well as private individuals.

Full company description

Morefield Group N.V., through its subsidiaries, engages in selecting, advising, supplying, and maintaining aids for people with a physical disability in Curaçao. The company sells, rents and other services related to medical devices. It serves municipalities, care offices, health insurers and healthcare institutions, as well as private individuals. Morefield Group N.V. was founded in 1983 and is headquartered in Willemstad, Curaçao.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Morefield Group reported revenue of €162M in FY2025 versus €0 in FY2021. Reported net income was €4.2M in FY2025, compounding +43.3%/yr from FY2021.

Growth Quality 54/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€162M
Latest YoY
+51.7%
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.
+124.5%
Avg. growth/yr (21Y) 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.
+13.1%
Revenue
FY21 €0
FY22 €14.3M
FY23 €92.7M
FY24 €107M
FY25 €162M
Net income +43.3%/yr
FY21 €989K
FY22 €2.2M
FY23 €5.3M
FY24 €2.3M
FY25 €4.2M

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Cite: Fair Value Calculator (2026). "Morefield Group Fair Value". https://www.fairvalue-calculator.com/stock/MORE

Peer Group

Staffing & Employment Services · 85 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 28 · Bottom 25%
Fair Value upside +57% · Top 25%
Return on equity (TTM) 21% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 3% · Above median
Operating margin (TTM) 8% · Top 25%
Revenue growth 77% · Top 25%
Debt / equity 2.83× · Higher than 75% of peers

Valuation Multiples vs Staffing & Employment Services median · lower = cheaper

P/E (TTM) 17.6× · Pricier than median
P/B 3.32× · Pricier than 75% of peers
P/S (TTM) 0.39× · Pricier than median
EV/EBITDA 5.1× · 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 100 · sector 41
FUTURE 100 · sector 1
PAST 82 · sector 36
HEALTH 0 · sector 95
DIVIDEND 0 · sector 60

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 Staffing & Employment Services stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Adecco Group ADEN CHF 20.46 CHF 23.73 +16%
Korn Ferry, KFY $78.61 $114.56 +46%
Robert Half Inc RHI $36.70 $22.10 -40%
TriNet Group TNET $57.56 $70.85 +23%
ManpowerGroup Inc MAN $39.02 $29.67 -24%
Insperity, Inc NSP $49.48 $17.34 -65%
FESCO Group 600861 ¥13.24 ¥45.46 +243%
Grupa Pracuj S.A GPP 47.40 PLN 65.45 PLN +38%
Barrett Business Services, Inc BBSI $37.43 $38.42 +3%
Maharah for Human Resources Company 1831 5.36 SAR 6.92 SAR +29%

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Frequently asked questions

Is Morefield Group (MORE) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of €1.46 versus a price of €0.9300, about +57% (undervalued).
What is the fair value of MORE?
Our model-based fair value for Morefield Group is €1.46 (as of Jul 17, 2026), built from audited fundamentals. The current price is €0.9300.
What is the quality score of MORE?
Morefield Group has a Quality Score of 28/100. 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 Morefield Group (MORE)?
Morefield Group reported trailing-twelve-month revenue of about €162M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of MORE?
The net profit margin of Morefield Group is about 2.6%, meaning it keeps roughly 2.6% of revenue as net income. 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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