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Mensch und Maschine Software SE
(XETRA:MUM)
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Rating:70Outperform
Price Target:
€44.00
▲(0.00% Upside)
Action:Upgraded
Date:04/23/26
The score is driven primarily by strong profitability and improved balance-sheet leverage, tempered by weaker and more volatile cash-flow dynamics. Technicals are mixed (short-term strength but weaker long-term trend and near-overbought signals), while valuation is supported by a high dividend yield but constrained by a mid-range P/E.
Positive Factors
High profitability margins
Sustained high operating and EBITDA margins provide structural cash generation capacity and pricing power in core products and services. These margins create room for reinvestment, support shareholder returns, and cushion the business against cyclical downturns, enhancing long-term resilience.
Negative Factors
Weakened operating cash flow
A sharp decline in operating cash flow despite strong reported profits points to working-capital or timing issues that can constrain reinvestment and dividend capacity. Persistently weak cash conversion would force reliance on external financing or slow growth initiatives over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability margins
Sustained high operating and EBITDA margins provide structural cash generation capacity and pricing power in core products and services. These margins create room for reinvestment, support shareholder returns, and cushion the business against cyclical downturns, enhancing long-term resilience.
Read all positive factors
Mensch und Maschine Software SE (MUM) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€621.95M
Dividend Yield4.15%
Average Volume (3M)13.41K
Price to Earnings (P/E)18.2
Beta (1Y)0.55
Revenue Growth-16.11%
EPS Growth12.37%
CountryDE
Employees1,194
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)2.02
Shares Outstanding17,149,052
10 Day Avg. Volume15,791
30 Day Avg. Volume13,412
Financial Highlights & Ratios
PEG Ratio3.85
Price to Book (P/B)9.52
Price to Sales (P/S)3.14
P/FCF Ratio53.36
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€45.00Price Target Upside2.27% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)2.17
Revenue Forecast (FY)€259.50M
Mensch und Maschine Software SE Business Overview & Revenue Model
Company Description
Mensch und Maschine Software SE, established in Starnberg, Germany, in 1984, provides sophisticated computer-aided design, manufacturing, and engineering (CAD/CAM/CAE), product data management, and building information modeling/management solution...
How the Company Makes Money
MuM generates revenue mainly through two business models that correspond to its reporting segments. (1) MuM Software: The company earns money by distributing and selling software (notably Autodesk software) and by selling its own software products...
Mensch und Maschine Software SE Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 244.12M | 238.59M | 325.84M | 322.31M | 320.48M | 266.16M |
| Gross Profit | 90.73M | 60.20M | 174.59M | 168.53M | 161.14M | 138.42M |
| EBITDA | 63.23M | 50.23M | 56.29M | 55.35M | 51.80M | 43.72M |
| Net Income | 33.34M | 31.81M | 30.49M | 28.87M | 26.01M | 21.30M |
Balance Sheet | ||||||
| Total Assets | 194.83M | 201.16M | 211.89M | 187.20M | 187.45M | 160.79M |
| Cash, Cash Equivalents and Short-Term Investments | 6.66M | 15.76M | 43.00M | 24.87M | 24.37M | 20.00M |
| Total Debt | 30.79M | 49.41M | 19.13M | 19.20M | 37.86M | 23.41M |
| Total Liabilities | 105.88M | 116.41M | 106.98M | 87.44M | 101.69M | 67.99M |
| Stockholders Equity | 82.21M | 78.67M | 98.46M | 92.85M | 78.69M | 86.33M |
Cash Flow | ||||||
| Free Cash Flow | 17.00M | 14.04M | 52.02M | 44.16M | 33.35M | 31.60M |
| Operating Cash Flow | 19.10M | 16.26M | 62.32M | 50.59M | 39.05M | 36.91M |
| Investing Cash Flow | -11.38M | -11.05M | -10.93M | -7.21M | -6.12M | -8.26M |
| Financing Cash Flow | -48.08M | -31.93M | -33.54M | -42.97M | -28.41M | -25.02M |
Mensch und Maschine Software SE Technical Analysis
Positive
44.00
Price Trends
36.40
Positive
35.64
Positive
38.34
Negative
Market Momentum
0.18
Negative
53.55
Neutral
66.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:MUM, the sentiment is Positive. The current price of 44 is above the 20-day moving average (MA) of 35.80, above the 50-day MA of 36.40, and above the 200-day MA of 38.34, indicating a neutral trend. The MACD of 0.18 indicates Negative momentum. The RSI at 53.55 is Neutral, neither overbought nor oversold. The STOCH value of 66.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:MUM.
Mensch und Maschine Software SE Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | €156.20M | 14.32 | 23.52% | 0.63% | 3.67% | 18.47% | |
72 Outperform | €825.64M | 7.00 | 81.82% | ― | 9.10% | -5.18% | |
70 Outperform | €621.95M | 18.17 | 42.00% | 4.15% | -16.11% | 12.37% | |
69 Neutral | €587.66M | 15.66 | 24.17% | ― | 15.81% | 63.97% | |
66 Neutral | €6.50B | 27.96 | 25.74% | 0.59% | 15.85% | 30.93% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | €716.31M | -27.42 | -26.06% | ― | 9.19% | -37.73% |
* Technology Sector Average
DE:MUM
Mensch und Maschine Software SE
36.70
-14.28
-28.01%
DE:NEM
Nemetschek
56.20
-68.96
-55.10%
DE:PSAN
PSI AG fuer Produkte und Systeme der Informationstechnologie
46.40
16.10
53.14%
DE:SHF
SNP Schneider Neureither & Partner AG (Schneider Neureither & Partner AG)
80.20
7.60
10.47%
DE:TMV
TeamViewer AG
5.46
-4.06
-42.65%
DE:FAA
Fabasoft AG
13.75
-3.10
-18.40%
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.