Mersen S.A (MRN) Fair Value & Analysis
Industrials · FR · Market cap €865M
Fair value as of: Jul 19, 2026
From 24 valuation models · updated 22 days ago
Fair value updated Jul 19, 2026, revised from €11.08 to €11.06 (−0.2%) since Jul 17, 2026. Share price +8.5% over the past month.
Below-average quality, and screening another 73% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (€13.82). The favourable scenario is already priced in.
- Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.
How to read this chart
60‑month range €16.40 – €43.87 · fair‑value band €8.29 – €13.82 · the €40.68 price screens above the €11.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.
Analysis
Mersen S.A (MRN) currently trades at €40.68, while our model-based Fair Value estimate is €11.06, implying the stock looks roughly 72.8% overvalued today. The Quality Score stands at 48/100 (below-average quality), in the Industrials 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, Mersen S.A generated revenue of €1.2B at a net margin of 1.2%. Revenue declined 7.0% year over year. It earns a return on equity of 1.5%. Net debt stands at €448M. Fundamentals as of Jul 19, 2026
Our scenario range runs from €8.29 (bear case) to €13.82 (bull case); at €40.68, the current price sits above 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 6% below its 52-week high and 113% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -73%, MRN 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 24 models by family
Widest divergence: DCF Models (€22.00) versus Growth DCF (€5.10). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 72
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
Mersen S.A. manufactures and sells electrical power products and advanced materials in France, North America, rest of Europe, the Asia-Pacific, and internationally. It operates through two segments, Electrical Power and Advanced Materials.
Full company description
Mersen S.A. manufactures and sells electrical power products and advanced materials in France, North America, rest of Europe, the Asia-Pacific, and internationally. It operates through two segments, Electrical Power and Advanced Materials. The company offers fuses, fuse holders and systems, surge protection, accessories, power distribution blocks, IEC fuse switch disconnectors, low-voltage and high power switches, capacitors, cooling, power transfer for rail, isostatic and extruded graphite, bus bar, engineered panels, graphite bursting discs, and heat exchangers, as well as PTFE bellows, pipes, and fittings products and solutions. It also provides carbon brushes, brush-holders, carbon insulation, SSiC, process technologies, carbon/carbon composite, slip rings, DC protection for EV and batteries, corrosion resistant materials, brush gear assembly housing, signal and power transfer systems, dust collectors, industrial current collectors, and power stacks, as well as columns, reactors, and pressure vessels products and solutions. In addition, the company offers simulation tools, on-site maintenance, power stack design optimization, motor maintenance, wind services, electrical test lab, and knowledge center, as well as training for process industries and energy production solutions. It serves semiconductors; electric vehicles; battery energy storage system; solar; wind; railways and metros; aerospace; chemicals; building and infrastructure; electrical power distribution; and energy conversion. The company was formerly known as Groupe Carb/one Lorraine SA and changed its name to Mersen S.A. in May 2010. Mersen S.A. was founded in 1889 and is headquartered in Courbevoie, France.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Mersen S.A reported revenue of €1.2B in FY2025 versus €923M in FY2021, a compound +6.5%/yr. Reported net income was €12.8M in FY2025, compounding −30.4%/yr from FY2021.
MRN screens 73% overvalued. Compare with Contemporary Amperex Technology Co →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Mersen SA (CBLNY) (H1 2026) Earnings Call Highlights: Strong Data Center Growth and Raised ...
- MERSEN INTRODUCES MDC SERIES DC DISTRIBUTION FUSES
- What Is Mersen's (EPA:MRN) P/E Ratio After Its Share Price Rocketed?
- Edited Transcript of MRN.PA earnings conference call or presentation 11-Mar-20 9:00am GMT
Peer Group
Electrical Equipment & Parts · 528 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 Electrical Equipment & Parts 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.
VALUE 0: the price sits above our fair-value range.
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 Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Contemporary Amperex Technology Co 3750 | HK$675.50 | HK$391.44 | -42% |
| ABB Ltd ABBN | CHF 83.82 | CHF 35.46 | -58% |
| Delta Electronics (Thailand) Public Company TDED | 10.16 SGD | 1.47 SGD | -86% |
| LG Energy Solution, Ltd 373220 | 334,000 KRW | 201,455 KRW | -40% |
| WEG S.A WEGE3 | 13,210 ARS | 7,948 ARS | -40% |
| Sungrow Power Supply Co 300274 | ¥114.79 | ¥123.83 | +8% |
| Shenzhen Inovance Technology Co 300124 | ¥63.43 | ¥33.04 | -48% |
| HD Hyundai Electric Co 267260 | 823,000 KRW | 371,133 KRW | -55% |
| LS ELECTRIC Co 010120 | 190,000 KRW | 31,517 KRW | -83% |
| Sieyuan Electric Co 002028 | ¥151.73 | ¥71.69 | -53% |
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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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