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Mister Spex SE (MRX) Fair Value & Analysis

Consumer Cyclical · DE · Market cap €43.4M

MS Mister Spex SE MRX · XETRA
Price€1.16
Fair Value€0.9000
Upside-22.4%
Quality95/100
Evidence: Low Range €0.6700 – €1.35

Fair value as of: Jun 25, 2026

From 1 valuation models · updated 4 days ago

Fair value updated Jun 25, 2026 — revised from €5.38 to €0.9000 (−83.3%) since Jun 24, 2026. Share price −11.5% over the past month.

Price vs Fair Value (12 months)

€2.14 €1.15 Fair Value €0.9000 Jun 2025 Jun 2026

12‑month range €1.15 – €2.14 · fair‑value band €0.6700 – €1.35 · the €1.16 price screens above the €0.9000 fair value. As of Jun 25, 2026.

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Analysis

Mister Spex SE (MRX) currently trades at €1.16, while our model-based Fair Value estimate is €0.9000 — implying the stock looks roughly 22.4% overvalued today. We read business quality at 95/100 (high quality), in the Consumer Cyclical 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: low).

Over the trailing twelve months, Mister Spex SE generated revenue of €179M at a net margin of -15.5%. Revenue declined 9.3% year over year. It earns a return on equity of -52.8%. Net debt stands at €3.9M. Fundamentals as of Jun 25, 2026

Key figures & financial health

Revenue (TTM) €179M
Revenue growth (YoY) -9.3%
Net margin -15.5%
Return on equity -52.8%
Free cash flow −€764K FY2025
Operating margin -14.6%
More key figures
EPS (TTM) €-2.40
Net debt €3.9M FY2025

Figures from reported company fundamentals (EODHD) · as of Jun 25, 2026. TTM = trailing twelve months.

About the company

Mister Spex SE retails optical products in Germany and internationally. The company provides prescription and multifocal glasses, sunglasses, and contact lenses, as well as miscellaneous services. It offers its products under the independent labels, own labels, and various premium and luxury brands through online shops and retail stores, as well as a network of partner opticians. Mister Spex SE was incorporated in 2007 and is headquartered in Berlin, Germany.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Mister Spex SE reported revenue of €181M in FY2025 versus €194M in FY2021, a compound −1.7%/yr. Reported net income was −€28.2M in FY2025.

Revenue −1.7%/yr
FY21 €194M
FY22 €210M
FY23 €224M
FY24 €217M
FY25 €181M
Net income
FY21 −€31.5M
FY22 −€44.9M
FY23 −€47.9M
FY24 −€84.9M
FY25 −€28.2M

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6 more Specialty Retail stocks, each showing price versus our Fair Value estimate (as of Jun 25, 2026).

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Frequently asked questions

Is Mister Spex SE (MRX) undervalued?
As of Jun 25, 2026, our model estimates a fair value of €0.9000 versus a price of €1.16 — about −22% (overvalued). Model-based estimate, not financial advice.
What is the fair value of MRX?
Our 21-model fair value for Mister Spex SE is €0.9000 (as of Jun 25, 2026), built from audited fundamentals. The current price is €1.16.
What is the quality score of MRX?
Mister Spex SE has a Quality Score of 95/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Mister Spex SE (MRX)?
Mister Spex SE reported trailing-twelve-month revenue of about €179M (latest available figure, as of Jun 25, 2026).
What is the net profit margin of MRX?
The net profit margin of Mister Spex SE is about -15.5%, 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.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.