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Masterflex SE (MZX) Fair Value & Analysis

Basic Materials · DE · Market cap €139M

MS Masterflex SE MZX · XETRA
Price€14.25
Fair Value€14.66
Upside+2.9%
Quality68/100
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Healthy Growth
Thin margins · 8.6% net margin
Low debt · generates free cash flow
2.10% dividend yield
Ranks above peers (10/15)
Moderate moat 55/100
Evidence: High Range €9.95 – €19.25 Share as image

Fair value as of: Jul 13, 2026

From 25 valuation models · updated 28 days ago

Share price −1.0% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (€9.95 to €19.25) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€14.85 €5.03 Fair Value €14.66 Feb 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 €5.03 – €14.85 · fair‑value band €9.95 – €19.25 · the €14.25 price screens below the €14.66 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

Masterflex SE (MZX) currently trades at €14.25, while our model-based Fair Value estimate is €14.66, implying the stock looks roughly 2.9% fairly valued today. The Quality Score stands at 68/100 (solid quality), in the Basic Materials 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, Masterflex SE generated revenue of €103M at a net margin of 8.6%. Revenue declined 0.6% year over year. It earns a return on equity of 12.8%. Net debt stands at €2.7M. Fundamentals as of Jul 13, 2026

Our scenario range runs from €9.95 (bear case) to €19.25 (bull case); at €14.25, 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 5% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -58% fair-value upside, at 3%, MZX 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
Growth DCF €8.61 €10.74 €13.06 80
Residual Income €6.04 €6.75 €9.66 76
Rev-Margin DCF €9.64 €14.34 €19.29 74
All 25 models by family
DCF Models
FCF DCF €8.50 €10.84 €13.48 38
Owner Earnings €8.66 €11.03 €13.73 31
5Y Revenue Exit €9.64 €14.21 €19.77 39
5Y EBITDA Exit €11.13 €16.83 €23.10 41
5Y P/E Exit €9.43 €13.84 €18.15 38
10Y Revenue Exit €8.80 €12.34 €16.59 36
10Y EBITDA Exit €9.82 €13.84 €18.63 37
10Y P/E Exit €8.92 €12.12 €15.59 35
Earnings-Based
Graham-Dodd €6.16 €13.39 €17.05 54
PEG = 1.0 €2.10 €3.00 €3.90 46
EPV €7.69 €8.59 €9.32 59
Dividend Discount
Gordon GGM €1.88 €2.61 €3.24 70
DDM Multi-Stage €1.88 €2.49 €3.04 61
Multiples
P/E Multiple €11.55 €15.40 €19.25 63
P/S Multiple €11.55 €15.40 €19.25 58
P/B Multiple €11.55 €15.40 €19.25 55
EV/EBIT €15.33 €20.38 €25.43 53
EV/EBITDA €15.33 €20.38 €25.43 54
EV/Revenue €11.38 €16.18 €20.98 43
Asset-Based
NCAV (Graham) €3.57 €4.78 €7.14 50
Growth DCF
Growth DCF €8.61 €10.74 €13.06 80
Rev-Margin DCF €9.64 €14.34 €19.29 74
Economic Profit
Residual Income €6.04 €6.75 €9.66 76
ROIC Compounder €7.74 €8.85 €9.93 72
Growth Earnings
Growth-Adj P/E €8.68 €12.39 €16.11 68

Widest divergence: Multiples (€15.40) versus Dividend Discount (€2.49). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €103M
Revenue growth (YoY) -0.6%
Net margin 8.6%
Return on equity 12.8%
Free cash flow €10.3M FY2025
P/E ratio 15.7
More key figures
Operating margin 15.3%
EPS (TTM) €0.9200
Dividend yield 2.1%
EPS growth (YoY) +3.1%
Net debt €2.7M FY2025

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

Quality Score breakdown

Overall quality 68/100

Of which business quality 67 · Market factors (momentum, volatility) 63

Profitability 59
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 61
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 78
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 66
Distance to the 52-week high (market factor)
Net Issuance 82
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

Masterflex SE, together with its subsidiaries, engages in the development and manufacture of connectors and hose systems made of high-performance plastics and fabrics in Germany, Rest of Europe, and internationally.

Full company description

Masterflex SE, together with its subsidiaries, engages in the development and manufacture of connectors and hose systems made of high-performance plastics and fabrics in Germany, Rest of Europe, and internationally. The company offers spiral, clip, film, monolayer, multilayer, co-extruded, and micro-extruded hoses; connectors comprising pressure-resistant connectors; and clamps, manifolds, distributors, drip chambers, and separating membranes under the Masterflex and Masterduct brand names. It also provides fluoropolymer tubing products; thermoplastic extruded hoses under the Novoplast Schlauchtechnik brand name; hoses wound by hand under the Matzen & Timm brand name; and injection moulded parts under the Fleima-Plastic brand name. It serves the medical technology, food, pharmaceutical, laboratory, and biotechnology sectors; the renewable energies, heating, and ventilation sectors; the aviation, rail, and automotive industries; and the mechanical engineering, plastic, semiconductor, and robotics industries. The company was founded in 1987 and is headquartered in Gelsenkirchen, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Masterflex SE reported revenue of €103M in FY2025 versus €79.1M in FY2021, a compound +6.7%/yr. Reported net income was €8.7M in FY2025, compounding +27.6%/yr from FY2021.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€103M
Latest YoY
+4.6%
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.
+0.8%
Avg. growth/yr (5Y) 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.
+7.4%
Avg. growth/yr (23Y) 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.
+2.4%
Revenue +6.7%/yr
FY21 €79.1M
FY22 €100M
FY23 €101M
FY24 €98.1M
FY25 €103M
Net income +27.6%/yr
FY21 €3.3M
FY22 €7.8M
FY23 €8.0M
FY24 €8.2M
FY25 €8.7M
Character of growth · EPS growth decomposed (2014-2025) +12.5 % p.a.
Revenue per share +4.1 pp

of which total revenue +5.1 pp · buybacks/dilution −1.0 pp

EBIT margin +5.3 pp
Tax rate +1.5 pp
Residual (interest, one-offs) +1.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Masterflex SE Fair Value". https://www.fairvalue-calculator.com/stock/MZX

Peer Group

Specialty Chemicals · 669 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 68 · Top 25%
Fair Value upside +3% · Above median
Return on equity (TTM) 13% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 15% · Top 25%
Revenue growth -1% · Below median
Dividend yield (TTM) 2.1% · Above median
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Specialty Chemicals median · lower = cheaper

P/E (TTM) 15.7× · Cheaper than median
P/B 2.33× · Pricier than median
P/S (TTM) 1.56× · Pricier than median
P/FCF 15.5× · Pricier than 75% of peers
EV/EBITDA 8.9× · Cheaper than median
PEG 1.09× · 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 37 · sector 0
FUTURE 0 · sector 19
PAST 51 · sector 23
HEALTH 92 · sector 94
DIVIDEND 42 · sector 25

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

Stock Price Fair Value vs Fair Value
Linde plc LIN $489.98 $222.03 -55%
Nan Ya Plastics Corporation 1303 181.50 TWD 255.83 TWD +41%
Wanhua Chemical Group 600309 ¥70.04 ¥68.03 -3%
Novozymes A/S NSISB kr 428.20 kr 179.66 -58%
Asian Paints Limited ASIANPAINT ₹2,689 ₹668.81 -75%
Solar Industries India Limited SOLARINDS ₹18,236 ₹2,793 -85%
Pidilite Industries Limited PIDILITIND ₹1,560 ₹351.84 -77%
PT Chandra Asri Pacific Tbk TPIA 1,805 IDR 2,888 IDR +60%
Linde India Limited LINDEINDIA ₹7,115 ₹757.93 -89%
Berger Paints India Limited BERGEPAINT ₹493.70 ₹164.29 -67%

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Frequently asked questions

Is Masterflex SE (MZX) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of €14.66 versus a price of €14.25, about +3% (fairly valued).
What is the fair value of MZX?
Our model-based fair value for Masterflex SE is €14.66 (as of Jul 13, 2026), built from audited fundamentals. The current price is €14.25.
What is the quality score of MZX?
Masterflex SE has a Quality Score of 68/100. 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 Masterflex SE (MZX)?
Masterflex SE reported trailing-twelve-month revenue of about €103M (latest available figure, as of Jul 13, 2026).
What is the net profit margin of MZX?
The net profit margin of Masterflex SE is about 8.6%, meaning it keeps roughly 8.6% of revenue as net income. Based on the latest reported figures.
Does Masterflex SE pay a dividend?
Masterflex SE currently shows a dividend yield of about 2.17% relative to its recent price (as of Jul 13, 2026).

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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