View Future GrowthMartifer SGPS 과거 순이익 실적과거 기준 점검 1/6Martifer SGPS은 연평균 14%의 비율로 수입이 증가해 온 반면, Construction 산업은 수입이 19.7% 증가했습니다. 매출은 연평균 5.5%의 비율로 증가했습니다. Martifer SGPS의 자기자본이익률은 12%이고 순이익률은 3.3%입니다.핵심 정보14.03%순이익 성장률14.03%주당순이익(EPS) 성장률Construction 산업 성장률8.15%매출 성장률5.47%자기자본이익률12.01%순이익률3.25%최근 순이익 업데이트31 Dec 2025최근 과거 실적 업데이트분석 기사 • May 07Martifer SGPS' (ELI:MAR) Solid Earnings Have Been Accounted For ConservativelyThe market seemed underwhelmed by last week's earnings announcement from Martifer SGPS, S.A. ( ELI:MAR ) despite the...Reported Earnings • May 04Full year 2024 earnings released: EPS: €0.23 (vs €0.20 in FY 2023)Full year 2024 results: EPS: €0.23 (up from €0.20 in FY 2023). Revenue: €264.5m (up 25% from FY 2023). Net income: €23.0m (up 17% from FY 2023). Profit margin: 8.7% (down from 9.3% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.Reported Earnings • Aug 23First half 2023 earnings released: EPS: €0.093 (vs €0.10 in 1H 2022)First half 2023 results: EPS: €0.093 (down from €0.10 in 1H 2022). Revenue: €105.4m (up 13% from 1H 2022). Net income: €9.10m (down 7.1% from 1H 2022). Profit margin: 8.6% (down from 11% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Aug 27First half 2022 earnings released: EPS: €0.10 (vs €0.059 in 1H 2021)First half 2022 results: EPS: €0.10 (up from €0.059 in 1H 2021). Revenue: €103.7m (down 12% from 1H 2021). Net income: €9.79m (up 69% from 1H 2021). Profit margin: 9.4% (up from 4.9% in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings.Reported Earnings • May 02Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: €0.12 (up from €0.064 in FY 2020). Revenue: €228.7m (flat on FY 2020). Net income: €11.3m (up 79% from FY 2020). Profit margin: 4.9% (up from 2.8% in FY 2020). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.Reported Earnings • Apr 17Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €249.3m (up 5.2% from FY 2019). Net income: €6.30m (down 73% from FY 2019). Profit margin: 2.5% (down from 9.9% in FY 2019). The decrease in margin was driven by higher expenses.모든 업데이트 보기Recent updatesNew Risk • Jun 26New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Portuguese stocks, typically moving 4.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Paying a dividend despite having no free cash flows. High level of non-cash earnings (58% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (4.7% average weekly change). Profit margins are more than 30% lower than last year (3.3% net profit margin).Declared Dividend • Jun 15Dividend reduced to €0.093Dividend of €0.093 is 22% lower than last year. Ex-date: 23rd June 2026 Payment date: 25th June 2026 Dividend yield will be 4.1%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not adequately covered by earnings (96% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. The company's earnings per share (EPS) would need to grow by 6.7% to bring the payout ratio under control, which is less than the 8.5% EPS growth achieved over the last 5 years.공고 • Jun 14Martifer SGPS, S.A. announces Annual dividend, payable on June 25, 2026Martifer SGPS, S.A. announced Annual dividend of EUR 0.0930 per share payable on June 25, 2026, ex-date on June 23, 2026 and record date on June 24, 2026.New Risk • May 02New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). High level of non-cash earnings (58% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.2% net profit margin).New Risk • Mar 29New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (61% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Paying a dividend despite having no free cash flows.공고 • Aug 06Visabeira Industria, SGPS, S.A. proposed to acquire Martifer SGPS, S.A. (ENXTLS:MAR) for approximately €200 million.Visabeira Industria, SGPS, S.A. proposed to acquire Martifer SGPS, S.A. (ENXTLS:MAR) for approximately €200 million on August 6, 2025. A cash consideration valued at €2.057 per share will be paid by Visabeira Industria, SGPS, S.A. The amount will be paid in cash, less any (gross) amount that may be allocated to each Share as dividends, as an advance on profits for the year, or as a distribution of reserves. The statement clarifies that the consideration corresponds to €1.60, "plus an amount equal to the dividend distributed by Martifer for the 2025 fiscal year.분석 기사 • Aug 06A Piece Of The Puzzle Missing From Martifer SGPS, S.A.'s (ELI:MAR) 32% Share Price ClimbENXTLS:MAR 1 Year Share Price vs Fair Value Explore Martifer SGPS's Fair Values from the Community and select yours...New Risk • Aug 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Portuguese stocks, typically moving 3.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.Valuation Update With 7 Day Price Move • Aug 05Investor sentiment improves as stock rises 30%After last week's 30% share price gain to €2.74, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 15x in the Construction industry in Europe. Total returns to shareholders of 132% over the past three years.공고 • Jun 14Martifer SGPS, S.A. announces Annual dividend, payable on June 25, 2025Martifer SGPS, S.A. announced Annual dividend of EUR 0.1200 per share payable on June 25, 2025, ex-date on June 23, 2025 and record date on June 24, 2025.분석 기사 • May 23Calculating The Fair Value Of Martifer SGPS, S.A. (ELI:MAR)Key Insights Martifer SGPS' estimated fair value is €2.38 based on 2 Stage Free Cash Flow to Equity With €2.06 share...분석 기사 • May 07Martifer SGPS' (ELI:MAR) Solid Earnings Have Been Accounted For ConservativelyThe market seemed underwhelmed by last week's earnings announcement from Martifer SGPS, S.A. ( ELI:MAR ) despite the...Buy Or Sell Opportunity • May 06Now 21% undervaluedOver the last 90 days, the stock has risen 5.4% to €1.85. The fair value is estimated to be €2.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 24%.Reported Earnings • May 04Full year 2024 earnings released: EPS: €0.23 (vs €0.20 in FY 2023)Full year 2024 results: EPS: €0.23 (up from €0.20 in FY 2023). Revenue: €264.5m (up 25% from FY 2023). Net income: €23.0m (up 17% from FY 2023). Profit margin: 8.7% (down from 9.3% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.공고 • May 01Martifer SGPS, S.A., Annual General Meeting, May 28, 2025Martifer SGPS, S.A., Annual General Meeting, May 28, 2025. Location: zona industrial de oliveira de frades, apartado 17, oliveira de frades PortugalNew Risk • Mar 09New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company.New Risk • Aug 21New major risk - Financial data availabilityThe company's latest financial reports are more than a year old. Last reported fiscal period ended June 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risk Large one-off items impacting financial results.New Risk • Dec 31New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. This is currently the only risk that has been identified for the company.Valuation Update With 7 Day Price Move • Dec 29Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €1.53, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 292% over the past three years.Reported Earnings • Aug 23First half 2023 earnings released: EPS: €0.093 (vs €0.10 in 1H 2022)First half 2023 results: EPS: €0.093 (down from €0.10 in 1H 2022). Revenue: €105.4m (up 13% from 1H 2022). Net income: €9.10m (down 7.1% from 1H 2022). Profit margin: 8.6% (down from 11% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth.New Risk • Jun 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Portuguese stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risk Share price has been volatile over the past 3 months (5.4% average weekly change).분석 기사 • Jun 17Martifer SGPS (ELI:MAR) Seems To Use Debt Quite SensiblyThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Valuation Update With 7 Day Price Move • Jun 16Investor sentiment improves as stock rises 19%After last week's 19% share price gain to €1.33, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 245% over the past three years.Valuation Update With 7 Day Price Move • Nov 28Investor sentiment improved over the past weekAfter last week's 17% share price gain to €1.19, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 11x in the Construction industry in Europe. Total returns to shareholders of 218% over the past three years.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Non-Executive Director Carla de Araujo Goncalves Borges Norte was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Nov 11Investor sentiment improved over the past weekAfter last week's 24% share price gain to €1.08, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 11x in the Construction industry in Europe. Total returns to shareholders of 161% over the past three years.Reported Earnings • Aug 27First half 2022 earnings released: EPS: €0.10 (vs €0.059 in 1H 2021)First half 2022 results: EPS: €0.10 (up from €0.059 in 1H 2021). Revenue: €103.7m (down 12% from 1H 2021). Net income: €9.79m (up 69% from 1H 2021). Profit margin: 9.4% (up from 4.9% in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings.Reported Earnings • May 02Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: €0.12 (up from €0.064 in FY 2020). Revenue: €228.7m (flat on FY 2020). Net income: €11.3m (up 79% from FY 2020). Profit margin: 4.9% (up from 2.8% in FY 2020). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 3 highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Vítor Manuel Escária was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.Valuation Update With 7 Day Price Move • Jan 06Investor sentiment improved over the past weekAfter last week's 22% share price gain to €1.02, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 17x in the Construction industry in Europe. Total returns to shareholders of 120% over the past three years.분석 기사 • Sep 16Here's Why Martifer SGPS (ELI:MAR) Has A Meaningful Debt BurdenLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...분석 기사 • Aug 19Investors Will Want Martifer SGPS' (ELI:MAR) Growth In ROCE To PersistIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...분석 기사 • Jul 21Estimating The Intrinsic Value Of Martifer SGPS, S.A. (ELI:MAR)Today we will run through one way of estimating the intrinsic value of Martifer SGPS, S.A. ( ELI:MAR ) by projecting...분석 기사 • Jun 08Does Martifer SGPS (ELI:MAR) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...분석 기사 • May 11Returns Are Gaining Momentum At Martifer SGPS (ELI:MAR)To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...Reported Earnings • Apr 17Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €249.3m (up 5.2% from FY 2019). Net income: €6.30m (down 73% from FY 2019). Profit margin: 2.5% (down from 9.9% in FY 2019). The decrease in margin was driven by higher expenses.분석 기사 • Feb 09What Can The Trends At Martifer SGPS (ELI:MAR) Tell Us About Their Returns?To find a multi-bagger stock, what are the underlying trends we should look for in a business? In a perfect world, we'd...Is New 90 Day High Low • Dec 15New 90-day high: €0.42The company is up 2.0% from its price of €0.41 on 15 September 2020. The Portuguese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 8.0% over the same period.분석 기사 • Dec 15Are Martifer SGPS's (ELI:MAR) Statutory Earnings A Good Guide To Its Underlying Profitability?Statistically speaking, it is less risky to invest in profitable companies than in unprofitable ones. That said, the...Is New 90 Day High Low • Oct 09New 90-day low: €0.38The company is down 1.0% from its price of €0.38 on 10 July 2020. The Portuguese market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 2.0% over the same period.매출 및 비용 세부 내역Martifer SGPS가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.순이익 및 매출 추이ENXTLS:MAR 매출, 비용 및 순이익 (EUR Millions)날짜매출순이익일반관리비연구개발비31 Dec 252919102030 Sep 2528114100030 Jun 252711997031 Mar 252632193031 Dec 242562388030 Sep 242452377030 Jun 242332265031 Mar 242232163031 Dec 232122062030 Sep 232061672030 Jun 232011382031 Mar 231961382031 Dec 221921382030 Sep 221891479030 Jun 221871576031 Mar 222001374031 Dec 212121172030 Sep 212261168030 Jun 212401164031 Mar 21234863031 Dec 20227661030 Sep 202291363030 Jun 202312065031 Mar 202342266031 Dec 192372466030 Sep 192261565030 Jun 19216664031 Mar 19209464031 Dec 18201164030 Sep 18191164030 Jun 18180165031 Mar 18179465031 Dec 17177766030 Sep 17190-1565030 Jun 17202-3764031 Mar 17207-4168031 Dec 16208-4370030 Sep 16197-875030 Jun 16198885031 Mar 16212493031 Dec 152231103030 Sep 15238-291090양질의 수익: MAR의 비현금 수익 수준이 높습니다.이익 마진 증가: MAR의 현재 순 이익률 (3.3%)은 지난해 (9%)보다 낮습니다.잉여현금흐름 대비 순이익 분석과거 순이익 성장 분석수익추이: MAR의 수익은 지난 5년 동안 연평균 14% 증가했습니다.성장 가속화: MAR은 지난 1년 동안 수익이 감소하여 5년 평균과 비교할 수 없습니다.수익 대 산업: MAR은 지난 1년 동안 수익이 감소(-58.8%)하여 Construction 업계 평균(17.8%)과 비교하기 어렵습니다.자기자본이익률높은 ROE: MAR의 자본 수익률(12%)은 낮음으로 평가됩니다.총자산이익률투하자본수익률우수한 과거 실적 기업을 찾아보세요7D1Y7D1Y7D1YCapital-goods 산업에서 과거 실적이 우수한 기업.View Financial Health기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/07/22 00:17종가2026/07/22 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델의 세부 정보는 당사의 GitHub 페이지에서 확인하실 수 있습니다. 또한 보고서 사용 방법에 대한 가이드와 YouTube 튜토리얼도 제공하고 있습니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Martifer SGPS, S.A.는 3명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Javier Francisco EchanoveBanco SantanderBruno SilvaCaixa Banco BPIMariano AlarcoGoldman Sachs
분석 기사 • May 07Martifer SGPS' (ELI:MAR) Solid Earnings Have Been Accounted For ConservativelyThe market seemed underwhelmed by last week's earnings announcement from Martifer SGPS, S.A. ( ELI:MAR ) despite the...
Reported Earnings • May 04Full year 2024 earnings released: EPS: €0.23 (vs €0.20 in FY 2023)Full year 2024 results: EPS: €0.23 (up from €0.20 in FY 2023). Revenue: €264.5m (up 25% from FY 2023). Net income: €23.0m (up 17% from FY 2023). Profit margin: 8.7% (down from 9.3% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Aug 23First half 2023 earnings released: EPS: €0.093 (vs €0.10 in 1H 2022)First half 2023 results: EPS: €0.093 (down from €0.10 in 1H 2022). Revenue: €105.4m (up 13% from 1H 2022). Net income: €9.10m (down 7.1% from 1H 2022). Profit margin: 8.6% (down from 11% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Aug 27First half 2022 earnings released: EPS: €0.10 (vs €0.059 in 1H 2021)First half 2022 results: EPS: €0.10 (up from €0.059 in 1H 2021). Revenue: €103.7m (down 12% from 1H 2021). Net income: €9.79m (up 69% from 1H 2021). Profit margin: 9.4% (up from 4.9% in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings.
Reported Earnings • May 02Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: €0.12 (up from €0.064 in FY 2020). Revenue: €228.7m (flat on FY 2020). Net income: €11.3m (up 79% from FY 2020). Profit margin: 4.9% (up from 2.8% in FY 2020). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.
Reported Earnings • Apr 17Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €249.3m (up 5.2% from FY 2019). Net income: €6.30m (down 73% from FY 2019). Profit margin: 2.5% (down from 9.9% in FY 2019). The decrease in margin was driven by higher expenses.
New Risk • Jun 26New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Portuguese stocks, typically moving 4.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Paying a dividend despite having no free cash flows. High level of non-cash earnings (58% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (4.7% average weekly change). Profit margins are more than 30% lower than last year (3.3% net profit margin).
Declared Dividend • Jun 15Dividend reduced to €0.093Dividend of €0.093 is 22% lower than last year. Ex-date: 23rd June 2026 Payment date: 25th June 2026 Dividend yield will be 4.1%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is not adequately covered by earnings (96% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. The company's earnings per share (EPS) would need to grow by 6.7% to bring the payout ratio under control, which is less than the 8.5% EPS growth achieved over the last 5 years.
공고 • Jun 14Martifer SGPS, S.A. announces Annual dividend, payable on June 25, 2026Martifer SGPS, S.A. announced Annual dividend of EUR 0.0930 per share payable on June 25, 2026, ex-date on June 23, 2026 and record date on June 24, 2026.
New Risk • May 02New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.2x net interest cover). High level of non-cash earnings (58% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.2% net profit margin).
New Risk • Mar 29New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (61% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Paying a dividend despite having no free cash flows.
공고 • Aug 06Visabeira Industria, SGPS, S.A. proposed to acquire Martifer SGPS, S.A. (ENXTLS:MAR) for approximately €200 million.Visabeira Industria, SGPS, S.A. proposed to acquire Martifer SGPS, S.A. (ENXTLS:MAR) for approximately €200 million on August 6, 2025. A cash consideration valued at €2.057 per share will be paid by Visabeira Industria, SGPS, S.A. The amount will be paid in cash, less any (gross) amount that may be allocated to each Share as dividends, as an advance on profits for the year, or as a distribution of reserves. The statement clarifies that the consideration corresponds to €1.60, "plus an amount equal to the dividend distributed by Martifer for the 2025 fiscal year.
분석 기사 • Aug 06A Piece Of The Puzzle Missing From Martifer SGPS, S.A.'s (ELI:MAR) 32% Share Price ClimbENXTLS:MAR 1 Year Share Price vs Fair Value Explore Martifer SGPS's Fair Values from the Community and select yours...
New Risk • Aug 05New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Portuguese stocks, typically moving 3.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company.
Valuation Update With 7 Day Price Move • Aug 05Investor sentiment improves as stock rises 30%After last week's 30% share price gain to €2.74, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 15x in the Construction industry in Europe. Total returns to shareholders of 132% over the past three years.
공고 • Jun 14Martifer SGPS, S.A. announces Annual dividend, payable on June 25, 2025Martifer SGPS, S.A. announced Annual dividend of EUR 0.1200 per share payable on June 25, 2025, ex-date on June 23, 2025 and record date on June 24, 2025.
분석 기사 • May 23Calculating The Fair Value Of Martifer SGPS, S.A. (ELI:MAR)Key Insights Martifer SGPS' estimated fair value is €2.38 based on 2 Stage Free Cash Flow to Equity With €2.06 share...
분석 기사 • May 07Martifer SGPS' (ELI:MAR) Solid Earnings Have Been Accounted For ConservativelyThe market seemed underwhelmed by last week's earnings announcement from Martifer SGPS, S.A. ( ELI:MAR ) despite the...
Buy Or Sell Opportunity • May 06Now 21% undervaluedOver the last 90 days, the stock has risen 5.4% to €1.85. The fair value is estimated to be €2.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has grown by 24%.
Reported Earnings • May 04Full year 2024 earnings released: EPS: €0.23 (vs €0.20 in FY 2023)Full year 2024 results: EPS: €0.23 (up from €0.20 in FY 2023). Revenue: €264.5m (up 25% from FY 2023). Net income: €23.0m (up 17% from FY 2023). Profit margin: 8.7% (down from 9.3% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth.
공고 • May 01Martifer SGPS, S.A., Annual General Meeting, May 28, 2025Martifer SGPS, S.A., Annual General Meeting, May 28, 2025. Location: zona industrial de oliveira de frades, apartado 17, oliveira de frades Portugal
New Risk • Mar 09New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company.
New Risk • Aug 21New major risk - Financial data availabilityThe company's latest financial reports are more than a year old. Last reported fiscal period ended June 2023. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported June 2023 fiscal period end). Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risk Large one-off items impacting financial results.
New Risk • Dec 31New major risk - Financial data availabilityThe company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. This is currently the only risk that has been identified for the company.
Valuation Update With 7 Day Price Move • Dec 29Investor sentiment improves as stock rises 18%After last week's 18% share price gain to €1.53, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 292% over the past three years.
Reported Earnings • Aug 23First half 2023 earnings released: EPS: €0.093 (vs €0.10 in 1H 2022)First half 2023 results: EPS: €0.093 (down from €0.10 in 1H 2022). Revenue: €105.4m (up 13% from 1H 2022). Net income: €9.10m (down 7.1% from 1H 2022). Profit margin: 8.6% (down from 11% in 1H 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth.
New Risk • Jun 18New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Portuguese stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.4x net interest cover). Minor Risk Share price has been volatile over the past 3 months (5.4% average weekly change).
분석 기사 • Jun 17Martifer SGPS (ELI:MAR) Seems To Use Debt Quite SensiblyThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Valuation Update With 7 Day Price Move • Jun 16Investor sentiment improves as stock rises 19%After last week's 19% share price gain to €1.33, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 12x in the Construction industry in Europe. Total returns to shareholders of 245% over the past three years.
Valuation Update With 7 Day Price Move • Nov 28Investor sentiment improved over the past weekAfter last week's 17% share price gain to €1.19, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 11x in the Construction industry in Europe. Total returns to shareholders of 218% over the past three years.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Non-Executive Director Carla de Araujo Goncalves Borges Norte was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Nov 11Investor sentiment improved over the past weekAfter last week's 24% share price gain to €1.08, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 11x in the Construction industry in Europe. Total returns to shareholders of 161% over the past three years.
Reported Earnings • Aug 27First half 2022 earnings released: EPS: €0.10 (vs €0.059 in 1H 2021)First half 2022 results: EPS: €0.10 (up from €0.059 in 1H 2021). Revenue: €103.7m (down 12% from 1H 2021). Net income: €9.79m (up 69% from 1H 2021). Profit margin: 9.4% (up from 4.9% in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings.
Reported Earnings • May 02Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: €0.12 (up from €0.064 in FY 2020). Revenue: €228.7m (flat on FY 2020). Net income: €11.3m (up 79% from FY 2020). Profit margin: 4.9% (up from 2.8% in FY 2020). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth.
Board Change • Apr 27Less than half of directors are independentNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 3 highly experienced directors. 2 independent directors (6 non-independent directors). Independent Director Vítor Manuel Escária was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment.
Valuation Update With 7 Day Price Move • Jan 06Investor sentiment improved over the past weekAfter last week's 22% share price gain to €1.02, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 17x in the Construction industry in Europe. Total returns to shareholders of 120% over the past three years.
분석 기사 • Sep 16Here's Why Martifer SGPS (ELI:MAR) Has A Meaningful Debt BurdenLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
분석 기사 • Aug 19Investors Will Want Martifer SGPS' (ELI:MAR) Growth In ROCE To PersistIf you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
분석 기사 • Jul 21Estimating The Intrinsic Value Of Martifer SGPS, S.A. (ELI:MAR)Today we will run through one way of estimating the intrinsic value of Martifer SGPS, S.A. ( ELI:MAR ) by projecting...
분석 기사 • Jun 08Does Martifer SGPS (ELI:MAR) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
분석 기사 • May 11Returns Are Gaining Momentum At Martifer SGPS (ELI:MAR)To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...
Reported Earnings • Apr 17Full year 2020 earnings releasedThe company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: €249.3m (up 5.2% from FY 2019). Net income: €6.30m (down 73% from FY 2019). Profit margin: 2.5% (down from 9.9% in FY 2019). The decrease in margin was driven by higher expenses.
분석 기사 • Feb 09What Can The Trends At Martifer SGPS (ELI:MAR) Tell Us About Their Returns?To find a multi-bagger stock, what are the underlying trends we should look for in a business? In a perfect world, we'd...
Is New 90 Day High Low • Dec 15New 90-day high: €0.42The company is up 2.0% from its price of €0.41 on 15 September 2020. The Portuguese market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 8.0% over the same period.
분석 기사 • Dec 15Are Martifer SGPS's (ELI:MAR) Statutory Earnings A Good Guide To Its Underlying Profitability?Statistically speaking, it is less risky to invest in profitable companies than in unprofitable ones. That said, the...
Is New 90 Day High Low • Oct 09New 90-day low: €0.38The company is down 1.0% from its price of €0.38 on 10 July 2020. The Portuguese market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 2.0% over the same period.