Mister Spex SE (DE:MRX)
XETRA:MRX
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Mister Spex SE
(XETRA:MRX)
Select Model
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Rating:46Neutral
Price Target:
€1.50
▲(19.05% Upside)
Action:Reiterated
Date:05/09/26
The score is held down primarily by weak financial performance (ongoing losses, declining revenue, negative TTM operating/free cash flow, and higher leverage). Technicals provide a mild offset with short-to-medium term stabilization signals, while valuation remains constrained by the negative P/E and lack of dividend yield data.
Positive Factors
Omnichannel model & market presence
An omnichannel model combining e-commerce with owned retail stores creates durable competitive advantages: better customer acquisition and retention via in-store eye care, higher lifetime value from repeat consumables (lenses, contact supplies), and differentiated service that is harder for pure-play competitors to replicate.
Negative Factors
Ongoing operating losses
Continued negative operating profit and net margin are structural risks: they erode equity, require external financing, and limit reinvestment capacity. Unless profitability turns positive, the business remains dependent on capital markets or lenders, constraining strategic flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Omnichannel model & market presence
An omnichannel model combining e-commerce with owned retail stores creates durable competitive advantages: better customer acquisition and retention via in-store eye care, higher lifetime value from repeat consumables (lenses, contact supplies), and differentiated service that is harder for pure-play competitors to replicate.
Read all positive factors
Mister Spex SE (MRX) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€43.23M
Dividend YieldN/A
Average Volume (3M)15.03K
Price to Earnings (P/E)―
Beta (1Y)0.90
Revenue Growth-15.61%
EPS Growth66.17%
CountryDE
Employees1,212
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)-0.83
Shares Outstanding35,048,000
10 Day Avg. Volume10,731
30 Day Avg. Volume15,031
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.90
Price to Sales (P/S)0.23
P/FCF Ratio-54.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.52
Revenue Forecast (FY)€169.25M
Mister Spex SE Business Overview & Revenue Model
Company Description
Mister Spex SE provides eyewear products in Germany, Austria, Finland, France, the Netherlands, Norway, Spain, Sweden, Switzerland, and the United Kingdom. It offers various types of prescription glasses, sunglasses, and contact lenses. The compan...
How the Company Makes Money
Mister Spex primarily makes money by selling eyewear and related optical products through an omnichannel model (e-commerce and owned retail stores). Key revenue streams include (1) prescription eyewear sales, where revenue is generated from frames...
Mister Spex SE Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
38
Negative
Cash Flow
26
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 177.50M | 181.46M | 216.75M | 223.53M | 210.07M | 194.25M |
| Gross Profit | 43.98M | 18.70M | 111.22M | 24.81M | 108.73M | 32.82M |
| EBITDA | -2.84M | -8.20M | -51.02M | -18.64M | -21.99M | -8.48M |
| Net Income | -27.82M | -28.17M | -84.86M | -47.88M | -44.93M | -31.52M |
Balance Sheet | ||||||
| Total Assets | 138.08M | 144.31M | 171.27M | 306.48M | 293.23M | 325.32M |
| Cash, Cash Equivalents and Short-Term Investments | 47.86M | 56.19M | 73.08M | 111.15M | 128.30M | 178.08M |
| Total Debt | 59.05M | 60.11M | 66.35M | 86.61M | 61.66M | 51.69M |
| Total Liabilities | 98.11M | 98.16M | 99.43M | 151.02M | 92.23M | 80.53M |
| Stockholders Equity | 39.97M | 46.15M | 71.84M | 155.45M | 201.00M | 244.78M |
Cash Flow | ||||||
| Free Cash Flow | -4.90M | -764.00K | -22.68M | -8.57M | -40.52M | -43.67M |
| Operating Cash Flow | -1.98M | 1.55M | -16.30M | 6.04M | -20.84M | -27.82M |
| Investing Cash Flow | -5.55M | -2.92M | -6.38M | -14.61M | 3.75M | -40.93M |
| Financing Cash Flow | -14.90M | -14.57M | -15.85M | -8.57M | -4.76M | 203.86M |
Mister Spex SE Technical Analysis
Negative
1.26
Price Trends
1.29
Negative
1.30
Negative
1.43
Negative
Market Momentum
>-0.01
Positive
47.81
Neutral
34.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:MRX, the sentiment is Negative. The current price of 1.26 is below the 20-day moving average (MA) of 1.29, below the 50-day MA of 1.29, and below the 200-day MA of 1.43, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 47.81 is Neutral, neither overbought nor oversold. The STOCH value of 34.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:MRX.
Mister Spex SE Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | €270.39M | 591.63 | 42.70% | ― | 4.11% | ― | |
59 Neutral | €110.57M | -1.02 | -36.61% | ― | -8.57% | 27.04% | |
57 Neutral | €5.22B | -15.14 | 4.22% | ― | 20.20% | -56.58% | |
46 Neutral | €43.23M | -1.71 | -54.44% | ― | -15.61% | 66.17% |
* Consumer Cyclical Sector Average
DE:MRX
Mister Spex SE
1.27
-0.21
-14.19%
DE:ZAL
Zalando
20.12
-10.17
-33.58%
DE:WEW
Westwing Group AG
14.15
6.11
76.00%
DE:GFG
Global Fashion Group
0.48
0.19
66.90%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.