Mersen Past Earnings Performance
Past criteria checks 1/6
Mersen has been growing earnings at an average annual rate of 14.1%, while the Electrical industry saw earnings growing at 12.3% annually. Revenues have been growing at an average rate of 7.9% per year. Mersen's return on equity is 1.6%, and it has net margins of 1.2%.
Key information
14.12%
Earnings growth rate
11.62%
EPS growth rate
| Electrical Industry Growth | 9.86% |
| Revenue growth rate | 7.94% |
| Return on equity | 1.59% |
| Net Margin | 1.19% |
| Next Earnings Update | 30 Jul 2026 |
Recent past performance updates
Analysis Article • Apr 07
Mersen's (EPA:MRN) Soft Earnings Don't Show The Whole Picture
Mersen S.A.'s ( EPA:MRN ) earnings announcement last week didn't impress shareholders. While the headline numbers were...Analysis Article • Apr 17
Some Investors May Be Willing To Look Past Mersen's (EPA:MRN) Soft Earnings
Soft earnings didn't appear to concern Mersen S.A.'s ( EPA:MRN ) shareholders over the last week. We did some digging...Recent updates
Narrative Update • Jun 03
MRN: Future Nuclear And Lithium Contracts Will Not Justify Current Optimism
Analysts have lifted their price target on Mersen to €32.80 from €28.37, reflecting updated assumptions that include adjusted fair value, a slightly lower discount rate, revised revenue growth and profit margin expectations, and a higher future P/E multiple. What's in the News Mersen announced a multi million euro contract with Vulcan Energy to supply an Eco&FLEX unit for the Lionheart Project in Frankfurt, supporting lithium hydroxide production for electric vehicle batteries and enabling chlorine and energy recovery.
Narrative Update • May 13
MRN: Future Nuclear Graphite Orders Will Support A Rerating Narrative
Analysts have raised their price target on Mersen from €34.20 to €40.00. This change reflects updated assumptions for revenue growth, profit margins and future P/E multiples in their valuation work.
Narrative Update • Apr 25
MRN: Nuclear Graphite Contracts Will Support Fundamentals While Shares Remain Overvalued
Analysts have kept their price target for Mersen steady at €24.0, reflecting broadly unchanged assumptions on fair value, modest adjustments to the discount rate and growth inputs, and a slightly lower future P/E expectation. What's in the News Mersen and Terra Innovatum Global reported successful production of a graphite reactor core prototype for Terra Innovatum’s SOLO first of a kind reactor, supporting manufacturing readiness and validating reactor system integration with nuclear grade graphite materials (Key Developments).Narrative Update • Apr 11
MRN: Share Buybacks And Nuclear Contracts Will Support Balanced Long Term Outlook
Analysts have kept their €24.00 price target on Mersen unchanged, pointing to updated assumptions for a lower discount rate, slightly higher revenue growth and profit margin, and a modestly lower future P/E multiple as key inputs behind the maintained valuation view. What's in the News Mersen SA has commenced a share repurchase program authorized by shareholders, allowing buybacks of up to €122.09 million.Analysis Article • Apr 07
Mersen's (EPA:MRN) Soft Earnings Don't Show The Whole Picture
Mersen S.A.'s ( EPA:MRN ) earnings announcement last week didn't impress shareholders. While the headline numbers were...Narrative Update • Mar 27
MRN: Nuclear Graphite Orders And 2029 Outlook Will Support Balanced Prospects
Analysts have trimmed their price target on Mersen from €25.00 to €24.00, citing updated assumptions that include a lower profit margin outlook and a slightly higher future P/E multiple. What's in the News Mersen issued earnings guidance for 2026, indicating expected sales growth in line with its medium term objectives, and provided guidance for 2029.Narrative Update • Mar 12
MRN: Nuclear Graphite Orders Will Offset Index Removal Risk
Analysts have kept their price target for Mersen steady at €25.00, citing only slight adjustments to long term assumptions for the discount rate, revenue growth, profit margins, and future P/E that together do not materially change their view on the stock's valuation. What's in the News Terra Innovatum Global N.V. placed its first procurement order with Mersen for nuclear grade graphite, securing a key long lead material for the planned SOLO reactor deployment targeted for 2027 (Key Developments).Narrative Update • Feb 25
MRN: Defense Graphite Contract Will Not Offset Index Removal Risk
Analysts have kept their price target for Mersen unchanged at €25.00, indicating that only minor adjustments in assumptions around discount rate, revenue growth, profit margin, and future P/E do not materially alter their overall view. What's in the News Mersen was removed as an index constituent, indicating a change in its inclusion status within at least one tracked index (Key Developments).Narrative Update • Feb 10
MRN: Future Defense And EV Contracts Will Support A Balanced Outlook
Narrative Update on Mersen Analysts have lifted their fair value estimate for Mersen from €22.00 to €25.00, reflecting updated assumptions for revenue growth, profit margins and a higher future P/E multiple. What's in the News Mersen was removed from an unspecified equity index as an index constituent drop, which can affect how some passive funds are exposed to the stock (Key Developments).Analysis Article • Sep 20
An Intrinsic Calculation For Mersen S.A. (EPA:MRN) Suggests It's 41% Undervalued
Key Insights Using the 2 Stage Free Cash Flow to Equity, Mersen fair value estimate is €43.26 Mersen's €25.55 share...Analysis Article • Aug 03
Earnings Update: Here's Why Analysts Just Lifted Their Mersen S.A. (EPA:MRN) Price Target To €28.03
Shareholders of Mersen S.A. ( EPA:MRN ) will be pleased this week, given that the stock price is up 12% to €24.60...Analysis Article • Jun 28
Mersen (EPA:MRN) Takes On Some Risk With Its Use Of Debt
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...Analysis Article • May 20
Mersen (EPA:MRN) Has Announced That Its Dividend Will Be Reduced To €0.90
Mersen S.A. ( EPA:MRN ) has announced that on 9th of July, it will be paying a dividend of€0.90, which a reduction from...Analysis Article • May 14
It's A Story Of Risk Vs Reward With Mersen S.A. (EPA:MRN)
When close to half the companies in France have price-to-earnings ratios (or "P/E's") above 16x, you may consider...Analysis Article • Apr 17
Some Investors May Be Willing To Look Past Mersen's (EPA:MRN) Soft Earnings
Soft earnings didn't appear to concern Mersen S.A.'s ( EPA:MRN ) shareholders over the last week. We did some digging...Analysis Article • Apr 11
Mersen (EPA:MRN) Has Announced That Its Dividend Will Be Reduced To €0.90
Mersen S.A. ( EPA:MRN ) is reducing its dividend from last year's comparable payment to €0.90 on the 9th of July. This...
New Narrative • Mar 16
Focus On SiC And EV Segments Will Expand Electric Vehicle Market Presence
Strategic acquisitions and investments in North America and the EV market aim to expand Mersen's market reach and diversify revenue streams.Analysis Article • Mar 16
Analysts Have Made A Financial Statement On Mersen S.A.'s (EPA:MRN) Full-Year Report
It's been a sad week for Mersen S.A. ( EPA:MRN ), who've watched their investment drop 15% to €19.54 in the week since...Analysis Article • Mar 08
Is Mersen S.A. (EPA:MRN) Trading At A 48% Discount?
Key Insights Using the 2 Stage Free Cash Flow to Equity, Mersen fair value estimate is €44.14 Mersen is estimated to be...Analysis Article • Dec 09
Return Trends At Mersen (EPA:MRN) Aren't Appealing
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'll want to...Analysis Article • Oct 29
Not Many Are Piling Into Mersen S.A. (EPA:MRN) Stock Yet As It Plummets 25%
To the annoyance of some shareholders, Mersen S.A. ( EPA:MRN ) shares are down a considerable 25% in the last month...Analysis Article • Oct 12
Is Now The Time To Look At Buying Mersen S.A. (EPA:MRN)?
Mersen S.A. ( EPA:MRN ), might not be a large cap stock, but it saw significant share price movement during recent...Analysis Article • Sep 05
These 4 Measures Indicate That Mersen (EPA:MRN) Is Using Debt Extensively
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Aug 02
Mersen S.A. (EPA:MRN) Half-Yearly Results Just Came Out: Here's What Analysts Are Forecasting For This Year
Shareholders might have noticed that Mersen S.A. ( EPA:MRN ) filed its half-year result this time last week. The early...Analysis Article • Jul 05
Little Excitement Around Mersen S.A.'s (EPA:MRN) Earnings
Mersen S.A.'s ( EPA:MRN ) price-to-earnings (or "P/E") ratio of 10.2x might make it look like a buy right now compared...Analysis Article • Apr 18
Here's Why Mersen (EPA:MRN) Has A Meaningful Debt Burden
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Mar 27
Additional Considerations Required While Assessing Mersen's (EPA:MRN) Strong Earnings
Mersen S.A.'s ( EPA:MRN ) robust earnings report didn't manage to move the market for its stock. Our analysis suggests...Analysis Article • Jan 04
What Does Mersen S.A.'s (EPA:MRN) Share Price Indicate?
Mersen S.A. ( EPA:MRN ), is not the largest company out there, but it saw a decent share price growth of 11% on the...Analysis Article • Dec 15
Mersen's (EPA:MRN) Returns Have Hit A Wall
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Ideally, a business will...Analysis Article • Sep 15
These 4 Measures Indicate That Mersen (EPA:MRN) Is Using Debt Reasonably Well
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Jun 15
Return Trends At Mersen (EPA:MRN) Aren't Appealing
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to...Analysis Article • May 31
Mersen's (EPA:MRN) Dividend Will Be Increased To €1.25
The board of Mersen S.A. ( EPA:MRN ) has announced that it will be paying its dividend of €1.25 on the 6th of July, an...Analysis Article • May 17
Mersen (EPA:MRN) Is Paying Out A Larger Dividend Than Last Year
Mersen S.A. ( EPA:MRN ) has announced that it will be increasing its dividend from last year's comparable payment on...Analysis Article • Apr 26
These 4 Measures Indicate That Mersen (EPA:MRN) Is Using Debt Reasonably Well
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Apr 08
Mersen's (EPA:MRN) Shareholders Will Receive A Bigger Dividend Than Last Year
Mersen S.A. ( EPA:MRN ) has announced that it will be increasing its dividend from last year's comparable payment on...Analysis Article • Feb 07
What Is Mersen S.A.'s (EPA:MRN) Share Price Doing?
Mersen S.A. ( EPA:MRN ), might not be a large cap stock, but it received a lot of attention from a substantial price...Analysis Article • Jan 10
A Look At The Fair Value Of Mersen S.A. (EPA:MRN)
Key Insights Mersen's estimated fair value is €34.7 based on 2 Stage Free Cash Flow to Equity Current share price of...Analysis Article • Oct 28
Is It Time To Consider Buying Mersen S.A. (EPA:MRN)?
Mersen S.A. ( EPA:MRN ), might not be a large cap stock, but it led the ENXTPA gainers with a relatively large price...Analysis Article • Jul 28
Mersen (EPA:MRN) Is Looking To Continue Growing Its Returns On Capital
Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'll want...Analysis Article • Apr 09
Why Mersen SA (EPA:MRN) Could Be Worth Watching
While Mersen SA ( EPA:MRN ) might not be the most widely known stock at the moment, it saw a double-digit share price...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Mersen makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 1,186 | 14 | 240 | 0 |
| 30 Sep 25 | 1,208 | 32 | 241 | 0 |
| 30 Jun 25 | 1,230 | 49 | 243 | 0 |
| 31 Mar 25 | 1,237 | 54 | 249 | 0 |
| 31 Dec 24 | 1,244 | 59 | 254 | 0 |
| 30 Sep 24 | 1,235 | 68 | 255 | 0 |
| 30 Jun 24 | 1,227 | 77 | 255 | 0 |
| 31 Mar 24 | 1,219 | 79 | 251 | 0 |
| 31 Dec 23 | 1,211 | 82 | 246 | 0 |
| 30 Sep 23 | 1,205 | 79 | 244 | 0 |
| 30 Jun 23 | 1,198 | 77 | 242 | 0 |
| 31 Mar 23 | 1,157 | 72 | 233 | 0 |
| 31 Dec 22 | 1,115 | 68 | 224 | 0 |
| 30 Sep 22 | 1,055 | 66 | 215 | 0 |
| 30 Jun 22 | 996 | 64 | 207 | 0 |
| 31 Mar 22 | 959 | 59 | 201 | 0 |
| 31 Dec 21 | 923 | 54 | 195 | 0 |
| 30 Sep 21 | 895 | 26 | 189 | 0 |
| 30 Jun 21 | 868 | -3 | 182 | 0 |
| 31 Mar 21 | 858 | -7 | 181 | 0 |
| 31 Dec 20 | 847 | -12 | 180 | 0 |
| 30 Jun 20 | 897 | 41 | 192 | 0 |
| 31 Mar 20 | 923 | 49 | 194 | 0 |
| 31 Dec 19 | 950 | 57 | 196 | 0 |
| 30 Jun 19 | 932 | 61 | 195 | 0 |
| 31 Mar 19 | 905 | 59 | 192 | 0 |
| 31 Dec 18 | 879 | 57 | 190 | 0 |
| 30 Sep 18 | 854 | 51 | 185 | 0 |
| 30 Jun 18 | 830 | 46 | 181 | 0 |
| 31 Mar 18 | 820 | 42 | 180 | 0 |
| 31 Dec 17 | 809 | 37 | 179 | 0 |
| 30 Sep 17 | 795 | 25 | 178 | 0 |
| 30 Jun 17 | 781 | 13 | 176 | 0 |
| 31 Mar 17 | 770 | 10 | 174 | 0 |
| 31 Dec 16 | 759 | 7 | 172 | 0 |
| 30 Sep 16 | 760 | 4 | 172 | 0 |
| 30 Jun 16 | 761 | 2 | 171 | 0 |
| 31 Mar 16 | 764 | 3 | 172 | 0 |
| 31 Dec 15 | 768 | 5 | 172 | 0 |
| 30 Sep 15 | 763 | 13 | 169 | 0 |
| 30 Jun 15 | 758 | 20 | 165 | 0 |
Quality Earnings: MRN has a large one-off loss of €52.8M impacting its last 12 months of financial results to 31st December, 2025.
Growing Profit Margin: MRN's current net profit margins (1.2%) are lower than last year (4.7%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: MRN has become profitable over the past 5 years, growing earnings by 14.1% per year.
Accelerating Growth: MRN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MRN had negative earnings growth (-76.1%) over the past year, making it difficult to compare to the Electrical industry average (-5.6%).
Return on Equity
High ROE: MRN's Return on Equity (1.6%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/09 12:06 |
| End of Day Share Price | 2026/06/09 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Mersen S.A. is covered by 17 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Arindam Basu | Barclays |
| Rupesh Madlani | Barclays |
| Thomas Junghanns | Berenberg |