MaireTecnimont SpA (IT:MAIRE)
:MAIRE
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MaireTecnimont SpA
(MAIRE)
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Rating:74Outperform
Price Target:
€17.50
▲(13.93% Upside)
Action:UpgradedDate:05/01/26
The score is led by strong technical strength (price above key moving averages with positive MACD) and improving financial performance (rapid revenue growth and better operating margins). Offsetting factors are cash-flow coverage/working-capital sensitivity and only moderate balance-sheet flexibility. Valuation is supportive with a moderate P/E and solid dividend yield.
Positive Factors
Diversified EPC + Technology Services
The company’s core EPC model plus technology licensing and ongoing plant services provides multiple durable revenue streams. Large, multi-year project contracts and recurring service agreements support predictable project revenue recognition and long-term client ties, reducing single-source risk.
Negative Factors
Limited Balance-Sheet Flexibility
Equity is small versus the asset base, so despite improved leverage the company has constrained capital buffers. This limits capacity to absorb large project overruns or to pursue aggressive growth without reliance on external financing, increasing structural financing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified EPC + Technology Services
The company’s core EPC model plus technology licensing and ongoing plant services provides multiple durable revenue streams. Large, multi-year project contracts and recurring service agreements support predictable project revenue recognition and long-term client ties, reducing single-source risk.
Read all positive factors
MaireTecnimont SpA (MAIRE) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€5.04B
Dividend Yield2.73%
Average Volume (3M)378.56K
Price to Earnings (P/E)15.8
Beta (1Y)1.19
Revenue Growth12.34%
EPS Growth23.90%
CountryIT
Employees9,966
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.82
Shares Outstanding328,640,440
10 Day Avg. Volume435,367
30 Day Avg. Volume378,556
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)5.97
Price to Sales (P/S)0.61
P/FCF Ratio17.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€17.50Price Target Upside13.93% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.91
Revenue Forecast (FY)€7.61B
MaireTecnimont SpA Business Overview & Revenue Model
Company Description
Maire Tecnimont S.p.A. provides engineering services and works in Italy and internationally. It operates through Hydrocarbons and Green Energy segments. The Hydrocarbons segment designs and constructs plants, including separation, treatment, lique...
How the Company Makes Money
MAIRE primarily makes money by delivering complex industrial projects and related services under contract. Its main revenue stream comes from EPC/EPCC-type projects: it is paid to engineer, procure equipment and materials, manage construction, and...
MaireTecnimont SpA Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
66
Positive
Cash Flow
61
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.07B | 6.96B | 5.86B | 4.23B | 3.42B | 2.84B |
| Gross Profit | 1.34B | 456.01M | 1.18B | 960.68M | 623.61M | 481.83M |
| EBITDA | 536.39M | 498.38M | 399.19M | 257.73M | 257.56M | 227.96M |
| Net Income | 266.09M | 260.27M | 198.68M | 125.36M | 89.89M | 83.30M |
Balance Sheet | ||||||
| Total Assets | 8.09B | 8.16B | 7.41B | 6.34B | 5.39B | 5.21B |
| Cash, Cash Equivalents and Short-Term Investments | 1.35B | 1.37B | 1.16B | 917.09M | 762.46M | 677.10M |
| Total Debt | 698.86M | 761.07M | 994.28M | 862.57M | 897.79M | 876.65M |
| Total Liabilities | 7.32B | 7.39B | 6.77B | 5.76B | 4.86B | 4.68B |
| Stockholders Equity | 699.82M | 712.84M | 595.79M | 526.84M | 491.57M | 493.25M |
Cash Flow | ||||||
| Free Cash Flow | 278.45M | 243.19M | 274.73M | 335.16M | 251.38M | 165.90M |
| Operating Cash Flow | 311.59M | 261.25M | 284.94M | 369.70M | 275.78M | 196.50M |
| Investing Cash Flow | -76.39M | -66.21M | -51.56M | -58.97M | -25.22M | -31.02M |
| Financing Cash Flow | -103.34M | 23.79M | 4.90M | -155.83M | -165.20M | -193.71M |
MaireTecnimont SpA Technical Analysis
Positive
15.36
Price Trends
14.33
Positive
13.84
Positive
13.17
Positive
Market Momentum
0.42
Negative
63.99
Neutral
84.24
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:MAIRE, the sentiment is Positive. The current price of 15.36 is above the 20-day moving average (MA) of 13.88, above the 50-day MA of 14.33, and above the 200-day MA of 13.17, indicating a bullish trend. The MACD of 0.42 indicates Negative momentum. The RSI at 63.99 is Neutral, neither overbought nor oversold. The STOCH value of 84.24 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:MAIRE.
MaireTecnimont SpA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | €4.09B | 7.86 | 8.18% | 0.92% | -8.23% | -18.99% | |
74 Outperform | €5.04B | 15.83 | 42.37% | 2.73% | 12.34% | 23.90% | |
56 Neutral | €4.19B | 17.13 | 14.30% | ― | 12.19% | 177.33% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | €2.55B | 6.39 | 15.02% | 2.32% | 14.59% | 23.80% |
* General Sector Average
IT:MAIRE
MaireTecnimont SpA
15.95
6.54
69.46%
IT:DANR
Danieli & C.Officine Meccaniche SPA
47.84
23.10
93.34%
IT:FCT
Fincantieri S.p.A.
11.72
-0.38
-3.14%
IT:WBD
Webuild SpA
2.57
-0.69
-21.07%
IT:TFIN
TREVI Finanziaria Industriale S.p.A.
0.35
0.08
29.20%
IT:ICOP
I.CO.P. S.p.A.
26.50
16.63
168.60%
MaireTecnimont SpA Corporate Events
MAIRE publishes Interim Management Report for Q1 2026
Apr 29, 2026
MAIRE S.p.A. has made its Interim Management Report as of 31 March 2026 publicly available, following approval by its Board of Directors, in line with regulatory disclosure requirements. The document can be accessed at the company’s offices,...
MAIRE Publishes Minutes of April Shareholders’ Meeting for Investor Access
Apr 27, 2026
MAIRE S.p.A. has made available to the public the minutes of its ordinary shareholders’ meeting held on April 15, 2026, which can be consulted at its offices in Rome and Milan, on its corporate website, and via the authorized storage mechani...
Maire Shareholders Approve 2025 Results, Dividend, Incentive Plans and New Buyback
Apr 15, 2026
Maire’s shareholders approved the 2025 separate financial statements, reporting net profit of €170.25 million, and cleared a total dividend of €187.6 million, equal to €0.585 per share, subject to adjustments based on treas...
Maire Discloses Record-Date Voting Structure Ahead of April Shareholders’ Meeting
Apr 2, 2026
MAIRE S.p.A. has disclosed the total number of shares and corresponding voting rights as of the record date ahead of its ordinary shareholders’ meeting scheduled for 15–16 April 2026 in Milan. The company reported 328,640,432 shares ou...
Maire’s Nextchem Wins Engineering and Equipment Contract for Indonesian SAF Plant
Apr 1, 2026
Maire’s sustainable technology arm Nextchem, via subsidiary KT Tech, has secured a contract for early engineering works and proprietary equipment supply for a new sustainable aviation fuel plant in North Sumatra, Indonesia. The facility, des...
MAIRE’s Tecnimont wins $50 million Guaracara refinery revamp study
Mar 25, 2026
MAIRE’s Tecnimont unit has secured a USD 50 million contract through subsidiary Tecnimont Services to conduct a revamping and modernization study of the 150,000-barrel-per-day Guaracara refinery in Point-à-Pierre, Trinidad and Tobago. T...
Maire Publishes 2025 Annual Report and Governance Documents Ahead of April Meeting
Mar 24, 2026
Maire S.p.A. has made available to the public its 2025 Annual Financial Report, including statutory and consolidated financial statements, the management report with the group’s sustainability report, and related audit and board of statutory...
Maire Calls 2026 AGM With Remote Voting, New Incentive Plans and Buyback Mandate
Mar 16, 2026
Maire S.p.A. has convened its ordinary shareholders’ meeting for 15 April 2026, to be held exclusively via telecommunication with participation allowed only through a designated representative, reflecting a continued use of remote corporate ...
Maire Reports Insider-Related Purchase of 2,150 Shares on Milan Market
Mar 6, 2026
Maire S.p.A. disclosed a transaction involving a person closely associated with manager Cristina Finocchi Mahne, in line with EU rules on reporting dealings by individuals connected to senior management. The associated person, Federico Scrocco, pu...
MAIRE Calls April Shareholders’ Meeting and Backs New Incentive Plans
Mar 4, 2026
MAIRE’s board has approved its 2026 remuneration policy report, the report on compensation paid and the corporate governance and ownership structure report for the 2025 financial year, while confirming the independence of several non-executi...
Maire Lifts Dividend After Record 2025 and Raises 2035 Growth Targets
Mar 4, 2026
Maire reported record 2025 results, with revenues rising 20.3% to €7.1 billion, EBITDA up 29.4% to €500.1 million and net profit jumping 33.9% to €284.5 million, all above guidance, while net cash increased to €395.1 millio...
NextChem Wins Record €485 Million Technology Deal for Fertilizer and Methanol Complexes in West Africa
Mar 4, 2026
Maire’s sustainable technology arm NextChem has secured a €485 million contract to license technologies, supply process design packages and proprietary equipment for three large-scale nitrogen fertilizer and methanol complexes in West ...
Maire’s Tecnimont Wins USD 1.3 Billion Petrochemical EPC Contract
Mar 2, 2026
Maire’s subsidiary Tecnimont has secured a major USD 1.3 billion EPC contract to build a hydrocarbon treatment plant, including related utilities and offsite infrastructure, with completion targeted by 2031. The award strengthens Maire’...
MAIRE Completes Tranche of Share Buyback for Incentive Plans
Feb 26, 2026
MAIRE S.p.A. has completed a tranche of its share buyback program launched in December 2025, purchasing 448,496 shares between 20 and 26 February 2026 on Euronext Milan at an average price of €15.435, for a total outlay of about €6.9 m...
MAIRE Adds 766,000 Shares to Buyback Pool for Incentive Plans
Feb 19, 2026
MAIRE has provided an update on its ongoing share buyback program launched in December 2025 to service several long‑term equity incentive and broad‑based employee share ownership plans. The program is designed to supply shares for defe...
MAIRE Buys Back 742,975 Shares to Fund Employee and Management Incentive Plans
Feb 5, 2026
MAIRE S.p.A. has continued to execute its share buyback program on Euronext Milan, acquiring 742,975 treasury shares between 30 January and 5 February 2026 at a weighted average price of €15.121, for a total outlay of roughly €11.23 mi...
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.