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Mare Nostrum SA (FR)
(ALMAR)
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Rating:59Neutral
Price Target:
€0.56
▲(88.00% Upside)
Action:Reiterated
Date:06/01/26
The score is held back mainly by weak underlying operating profitability, volatile revenue trends, and a still-constrained balance sheet with high leverage despite deleveraging. Support comes from consistently positive operating cash flow, constructive technical momentum, and an exceptionally low P/E valuation.
Positive Factors
Stable operating cash flow
Consistently positive operating cash flow across 2021–2025 provides a durable liquidity buffer that funds working capital, supports payroll-heavy staffing operations, and enables debt reduction or reinvestment even when accounting profits are uneven, improving long-term resilience.
Negative Factors
Negative operating profitability
Persistently negative EBIT/EBITDA margins indicate the company's core operations fail to cover operating costs sustainably. This forces reliance on non-operating items or one-offs for reported net profit and constrains ability to self-fund growth, dividends, or significant capital expenditure.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable operating cash flow
Consistently positive operating cash flow across 2021–2025 provides a durable liquidity buffer that funds working capital, supports payroll-heavy staffing operations, and enables debt reduction or reinvestment even when accounting profits are uneven, improving long-term resilience.
Read all positive factors
Mare Nostrum SA (FR) (ALMAR) vs. iShares MSCI France ETF (EWQ)
Market Cap
€4.09M
Dividend YieldN/A
Average Volume (3M)2.29K
Price to Earnings (P/E)0.2
Beta (1Y)-0.13
Revenue Growth-8.98%
EPS GrowthN/A
CountryFR
Employees207
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)3.06
Shares Outstanding7,574,968
10 Day Avg. Volume4,820
30 Day Avg. Volume2,292
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)3.05
Price to Sales (P/S)0.02
P/FCF Ratio0.48
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)N/A
Revenue Forecast (FY)N/A
Mare Nostrum SA (FR) Business Overview & Revenue Model
Company Description
Mare Nostrum SA provides human resources management services worldwide. It offers temporary work, recruitment, and training services, as well as wage portage and professional mobility services. Mare Nostrum SA was incorporated in 2004 and is headq...
How the Company Makes Money
Mare Nostrum makes money mainly by supplying workforce and outsourced HR services to client companies. Its core revenue typically comes from (1) staffing/temporary work assignments where the company invoices clients for hours worked (or mission-ba...
Mare Nostrum SA (FR) Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
36
Negative
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Jun 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 109.70M | 120.52M | 169.58M | 172.22M | 155.59M |
| Gross Profit | 1.00M | 44.46M | 35.49M | 66.74M | 36.69M |
| EBITDA | 15.30M | -7.35M | -6.24M | 893.00K | 2.39M |
| Net Income | 23.40M | -9.95M | -11.72M | -2.12M | -536.00K |
Balance Sheet | |||||
| Total Assets | 48.22M | 64.27M | 74.89M | 85.12M | 80.53M |
| Cash, Cash Equivalents and Short-Term Investments | 8.13M | 8.00M | 7.29M | 12.04M | 14.43M |
| Total Debt | 5.71M | 21.16M | 21.05M | 30.03M | 28.25M |
| Total Liabilities | 47.59M | 77.07M | 77.34M | 75.30M | 68.40M |
| Stockholders Equity | 769.00K | -13.40M | -3.48M | 8.10M | 10.48M |
Cash Flow | |||||
| Free Cash Flow | 4.94M | 6.35M | 5.04M | -1.78M | 191.00K |
| Operating Cash Flow | 5.25M | 6.52M | 5.88M | -14.00K | 1.98M |
| Investing Cash Flow | -3.97M | -6.52M | -1.98M | -2.83M | -2.43M |
| Financing Cash Flow | -118.00K | 422.00K | -1.10M | -4.53M | -289.00K |
Mare Nostrum SA (FR) Technical Analysis
Negative
0.30
Price Trends
0.61
Negative
0.59
Negative
0.52
Positive
Market Momentum
-0.02
Positive
38.59
Neutral
52.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALMAR, the sentiment is Negative. The current price of 0.3 is below the 20-day moving average (MA) of 0.57, below the 50-day MA of 0.61, and below the 200-day MA of 0.52, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 38.59 is Neutral, neither overbought nor oversold. The STOCH value of 52.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALMAR.
Mare Nostrum SA (FR) Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | €4.09M | 0.19 | ― | ― | -8.98% | ― | |
57 Neutral | €18.41M | 23.09 | ― | ― | -9.27% | 1858.06% | |
56 Neutral | €9.66M | -37.26 | ― | ― | ― | ― | |
46 Neutral | €20.22M | -3.83 | ― | ― | -3.47% | 73.36% |
* Industrials Sector Average
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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.