MERSEN (FR:MRN)
:MRN
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MERSEN
(MRN)
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Rating:61Neutral
Price Target:
€45.00
▲(61.41% Upside)
Action:Reiterated
Date:05/05/26
The score is driven primarily by weakened 2025 financial performance (profitability and ROE compression, uneven free cash flow) despite moderate leverage and steady operating cash flow. Technicals are a clear positive with a strong uptrend, but overbought signals temper it. Valuation is a headwind due to the elevated P/E, only partly offset by the dividend yield.
Positive Factors
Diversified Business Model
Mersen’s two-segment model (electrical protection/power management and high-performance graphite/carbon materials) provides durable revenue diversification across industrial, energy and electronics end markets. Engineering-led, product and aftermarket sales reduce single-market dependency and support steadier demand over cycles, aiding long-term resilience and cross-selling opportunities.
Negative Factors
Revenue Decline / Margin Compression
A recent drop in revenues coupled with sharply lower net margins signals structural pressure on pricing, mix, or cost control. Persistently compressed margins weaken earnings power and limit reinvestment capacity, making it harder to restore prior ROE and hampering the company's ability to generate sustainable shareholder returns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified Business Model
Mersen’s two-segment model (electrical protection/power management and high-performance graphite/carbon materials) provides durable revenue diversification across industrial, energy and electronics end markets. Engineering-led, product and aftermarket sales reduce single-market dependency and support steadier demand over cycles, aiding long-term resilience and cross-selling opportunities.
Read all positive factors
MERSEN (MRN) vs. iShares MSCI France ETF (EWQ)
Market Cap
€1.03B
Dividend Yield3.94%
Average Volume (3M)39.22K
Price to Earnings (P/E)74.8
Beta (1Y)1.17
Revenue Growth-4.60%
EPS Growth-75.90%
CountryFR
Employees7,066
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.59
Shares Outstanding24,418,312
10 Day Avg. Volume45,390
30 Day Avg. Volume39,223
Financial Highlights & Ratios
PEG Ratio-0.54
Price to Book (P/B)0.68
Price to Sales (P/S)0.45
P/FCF Ratio14.81
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€42.00Price Target Upside50.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)2.32
Revenue Forecast (FY)€1.22B
MERSEN Business Overview & Revenue Model
Company Description
Mersen S.A., an enterprise founded in Courbevoie, France, in 1889, is a global manufacturer and distributor of advanced materials and specialized electrical power products. Its operations span France, North America, Europe, the Asia-Pacific region...
How the Company Makes Money
Mersen makes money by selling engineered products and solutions to industrial and technology customers, generating revenue primarily through two major lines of business. (1) Electrical Power segment: Revenue comes from the sale of electrical prote...
MERSEN Financial Statement Overview
Summary
Income Statement
55
Neutral
Balance Sheet
63
Positive
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.19B | 1.24B | 1.21B | 1.11B | 922.80M |
| Gross Profit | 351.70M | 385.80M | 385.40M | 348.00M | 289.80M |
| EBITDA | 194.10M | 179.80M | 191.40M | 171.10M | 141.50M |
| Net Income | 14.10M | 59.00M | 81.60M | 67.70M | 54.40M |
Balance Sheet | |||||
| Total Assets | 1.70B | 1.80B | 1.54B | 1.44B | 1.29B |
| Cash, Cash Equivalents and Short-Term Investments | 94.40M | 71.10M | 64.50M | 97.70M | 83.50M |
| Total Debt | 534.40M | 477.50M | 330.80M | 393.80M | 329.20M |
| Total Liabilities | 896.00M | 919.00M | 717.80M | 745.40M | 660.30M |
| Stockholders Equity | 782.80M | 850.20M | 788.20M | 661.30M | 602.30M |
Cash Flow | |||||
| Free Cash Flow | 35.70M | -22.60M | -8.00M | 8.20M | 24.10M |
| Operating Cash Flow | 165.00M | 194.00M | 179.30M | 105.50M | 116.80M |
| Investing Cash Flow | -144.10M | -279.90M | -183.70M | -96.30M | -93.90M |
| Financing Cash Flow | 12.00M | 96.70M | -17.10M | 11.90M | -78.20M |
MERSEN Technical Analysis
Positive
27.88
Price Trends
36.11
Positive
30.67
Positive
27.12
Positive
Market Momentum
2.04
Positive
56.16
Neutral
53.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:MRN, the sentiment is Positive. The current price of 27.88 is below the 20-day moving average (MA) of 42.68, below the 50-day MA of 36.11, and above the 200-day MA of 27.12, indicating a neutral trend. The MACD of 2.04 indicates Positive momentum. The RSI at 56.16 is Neutral, neither overbought nor oversold. The STOCH value of 53.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:MRN.
MERSEN Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | €39.64B | 30.95 | 17.16% | 1.73% | 9.46% | 8.75% | |
71 Outperform | €6.94B | 32.03 | 25.83% | 2.08% | -8.61% | -80.32% | |
71 Outperform | €162.91B | 39.37 | 15.76% | 1.65% | 5.24% | -2.65% | |
70 Outperform | €47.76B | 28.55 | 22.17% | 1.66% | 7.58% | 61.83% | |
61 Neutral | €1.03B | 74.85 | 6.02% | 3.94% | -4.60% | -75.90% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
43 Neutral | €190.83M | -5.83 | -22.05% | ― | 7.21% | 47.92% |
* General Sector Average
FR:MRN
MERSEN
42.20
22.96
119.31%
FR:LAT
Latecoere
0.02
<0.01
15.38%
FR:LR
LEGRAND
151.50
45.77
43.29%
FR:NEX
Nexans
158.80
65.02
69.33%
FR:SU
Schneider Electric
289.25
79.68
38.02%
FR:HO
Thales
232.40
-9.83
-4.06%
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.