Stock MRN MERSEN
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Financials Mersen

Equities

MRN

FR0000039620

Consumer Goods Conglomerates

Market Closed - Euronext Paris
Other stock markets
 09:06:10 26/04/2024 pm IST 		5-day change 1st Jan Change
35.5 EUR +2.16% Intraday chart for Mersen +4.11% +0.85%
26/04 Mersen: Amiral Gestion below 5% of share capital CF
24/04 Mersen: sales growth of around 7% in Q1 CF

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 705.7 508.9 766.3 778 851.6 858.7 - -
Enterprise Value (EV) 1 923.9 735.7 1,012 1,074 1,064 1,252 1,301 1,262
P/E ratio 12.7 x -42.7 x 14.3 x 11.8 x - 9.87 x 8.68 x 7.45 x
Yield 2.93% 2.63% 2.71% 3.31% 3.55% 3.54% 3.85% 4.42%
Capitalization / Revenue 0.74 x 0.6 x 0.83 x 0.7 x 0.7 x 0.68 x 0.62 x 0.56 x
EV / Revenue 0.97 x 0.87 x 1.1 x 0.96 x 0.88 x 0.99 x 0.94 x 0.83 x
EV / EBITDA 5.98 x 5.99 x 6.8 x 5.76 x 5.25 x 5.79 x 5.3 x 4.52 x
EV / FCF 15.3 x 10.6 x 42 x 129 x 355 x -14.9 x -136 x 16.9 x
FCF Yield 6.54% 9.39% 2.38% 0.77% 0.28% -6.73% -0.73% 5.93%
Price to Book 1.29 x 1 x 1.28 x 1.19 x 1.08 x 1.01 x 0.93 x 0.86 x
Nbr of stocks (in thousands) 20,664 20,561 20,768 20,608 24,194 24,190 - -
Reference price 2 34.15 24.75 36.90 37.75 35.20 35.50 35.50 35.50
Announcement Date 11/03/20 11/03/21 16/03/22 14/03/23 12/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 950.2 847.2 922.8 1,115 1,211 1,270 1,389 1,522
EBITDA 1 154.6 122.9 148.8 186.4 202.7 216.2 245.5 279.5
EBIT 1 102.1 68.6 92.6 121.6 137.3 140.7 158.3 180.3
Operating Margin 10.75% 8.1% 10.03% 10.91% 11.34% 11.08% 11.39% 11.84%
Earnings before Tax (EBT) 1 77.7 5.2 77 97.3 112.1 117.1 131.1 151.7
Net income 1 57.3 -12 54.4 67.7 81.6 87.35 99.33 115.8
Net margin 6.03% -1.42% 5.9% 6.07% 6.74% 6.88% 7.15% 7.6%
EPS 2 2.680 -0.5800 2.580 3.210 - 3.597 4.088 4.765
Free Cash Flow 1 60.4 69.1 24.1 8.3 3 -84.22 -9.533 74.83
FCF margin 6.36% 8.16% 2.61% 0.74% 0.25% -6.63% -0.69% 4.92%
FCF Conversion (EBITDA) 39.07% 56.22% 16.2% 4.45% 1.48% - - 26.78%
FCF Conversion (Net income) 105.41% - 44.3% 12.26% 3.68% - - 64.65%
Dividend per Share 2 1.000 0.6500 1.000 1.250 1.250 1.255 1.367 1.568
Announcement Date 11/03/20 11/03/21 16/03/22 14/03/23 12/03/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2021 S1 2021 Q3 2022 S1 2023 Q2 2023 S1 2024 Q1
Net sales 1 - 430 450.9 232.7 524.2 305.9 607.7 308
EBITDA - - - - - - - -
EBIT 48.5 34.7 43.3 - - - 68.8 -
Operating Margin - 8.07% 9.6% - - - 11.32% -
Earnings before Tax (EBT) - - - - - - - -
Net income - - - - 35.1 - 43.9 -
Net margin - - - - 6.7% - 7.22% -
EPS - - - - - - - -
Dividend per Share - - - - - - - -
Announcement Date 11/03/20 31/07/20 30/07/21 27/10/21 28/07/22 28/07/23 28/07/23 -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 218 227 246 296 213 393 443 404
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.411 x 1.845 x 1.651 x 1.588 x 1.048 x 1.819 x 1.802 x 1.445 x
Free Cash Flow 1 60.4 69.1 24.1 8.3 3 -84.2 -9.53 74.8
ROE (net income / shareholders' equity) 10.4% -2.27% 9.79% 10.2% 11.3% 10.5% 11.1% 11.8%
ROA (Net income/ Total Assets) - - - 5.32% - - - -
Assets 1 - - - 1,273 - - - -
Book Value Per Share 2 26.50 24.70 28.90 31.70 32.60 35.20 38.00 41.50
Cash Flow per Share 2 5.760 6.280 5.530 5.010 7.510 6.960 7.990 9.250
Capex 1 62.7 63.6 87.2 97.2 176 222 167 109
Capex / Sales 6.6% 7.51% 9.45% 8.72% 14.56% 17.48% 11.99% 7.16%
Announcement Date 11/03/20 11/03/21 16/03/22 14/03/23 12/03/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Mersen

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
35.5 EUR
Average target price
50.1 EUR
Spread / Average Target
+41.13%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Consumer Goods Conglomerates

1st Jan change Capi.
MERSEN Stock Mersen
+0.85% 917M
BERKSHIRE HATHAWAY INC. Stock Berkshire Hathaway Inc.
+11.85% 869B
INTERNATIONAL HOLDING COMPANY Stock International Holding Company
0.00% 239B
GE AEROSPACE Stock GE Aerospace
+27.20% 178B
HONEYWELL INTERNATIONAL INC. Stock Honeywell International Inc.
-7.75% 126B
ILLINOIS TOOL WORKS INC. Stock Illinois Tool Works Inc.
-5.21% 74.17B
3M COMPANY Stock 3M Company
-16.00% 50.82B
ALPHA DHABI HOLDING Stock Alpha Dhabi Holding
-24.57% 38.6B
MITSUBISHI ELECTRIC CORPORATION Stock Mitsubishi Electric Corporation
+19.71% 31.74B
DANUBE AG Stock Danube AG
+14.46% 29.82B
Consumer Goods Conglomerates
  1. Stock Market
  2. Equities
  3. MRN Stock
  4. Financials Mersen