MaireTecnimont SpA (IT:MAIRE)
:MAIRE
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MaireTecnimont SpA
(MAIRE)
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Rating:74Outperform
Price Target:
€15.50
▲(0.91% Upside)
Action:Upgraded
Date: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
Revenue growth and improving operating margins
Sustained TTM revenue growth to ~€7.07B and a materially higher EBIT margin (6.6% vs 4.0% in 2022) signal better project execution and pricing discipline. This supports more predictable operating cash generation and strengthens the core EPC business durability over months.
Negative Factors
Limited balance-sheet flexibility
A relatively small equity base versus a large asset base constrains balance-sheet cushions for project shocks or large prepayments. Even with deleveraging, modest equity limits capital flexibility for big bids or sustained cost overruns, increasing structural financing risk in project cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and improving operating margins
Sustained TTM revenue growth to ~€7.07B and a materially higher EBIT margin (6.6% vs 4.0% in 2022) signal better project execution and pricing discipline. This supports more predictable operating cash generation and strengthens the core EPC business durability over months.
Read all positive factors
MaireTecnimont SpA (MAIRE) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€4.65B
Dividend Yield2.73%
Average Volume (3M)378.56K
Price to Earnings (P/E)17.3
Beta (1Y)1.27
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)€7.62B
MaireTecnimont SpA Business Overview & Revenue Model
Company Description
Maire Tecnimont S.p.A. is an international engineering and construction group, delivering specialized services both within Italy and globally. Its operations are structured across two core segments: Hydrocarbons and Green Energy. The Hydrocarbons ...
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 | 898.14M | 1.18B | 960.68M | 623.61M | 481.83M |
| EBITDA | 536.39M | 514.89M | 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 | 1.25B | 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
Negative
15.36
Price Trends
14.90
Negative
14.34
Positive
13.42
Positive
Market Momentum
0.10
Positive
45.30
Neutral
41.29
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:MAIRE, the sentiment is Negative. The current price of 15.36 is above the 20-day moving average (MA) of 14.88, above the 50-day MA of 14.90, and above the 200-day MA of 13.42, indicating a neutral trend. The MACD of 0.10 indicates Positive momentum. The RSI at 45.30 is Neutral, neither overbought nor oversold. The STOCH value of 41.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | €4.65B | 17.29 | 42.37% | 2.73% | 12.34% | 23.90% | |
74 Outperform | €4.63B | 16.01 | 8.18% | 0.92% | -9.13% | -12.95% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | €2.39B | 9.58 | 15.02% | 2.32% | 14.59% | 23.80% | |
49 Neutral | €3.69B | 22.46 | 14.30% | ― | 12.19% | 177.33% |
* General Sector Average
IT:MAIRE
MaireTecnimont SpA
14.18
3.52
33.05%
IT:DANR
Danieli & C.Officine Meccaniche SPA
50.90
26.53
108.88%
IT:FCT
Fincantieri S.p.A.
10.30
-5.35
-34.19%
IT:WBD
Webuild SpA
2.38
-1.05
-30.63%
IT:TFIN
TREVI Finanziaria Industriale S.p.A.
3.50
0.48
15.97%
IT:ICOP
I.CO.P. S.p.A.
31.20
16.53
112.68%
MaireTecnimont SpA Corporate Events
Maire’s Tecnimont Wins Additional USD 900 Million Oil and Gas Optimization Work
Jun 4, 2026
Maire’s subsidiary Tecnimont has secured approximately USD 900 million in additional work tied to a large onshore project that was first awarded and disclosed in May 2026. The new scope focuses on optimizing existing oil and gas plants, sign...
Maire CFO Awarded Shares Under 2023–2025 Long-Term Incentive Plan
May 29, 2026
Maire S.p.A. disclosed that Group Chief Financial Officer Mariano Avanzi received 95,363 ordinary Maire shares free of charge under the company’s 2023–2025 Long-Term Incentive Plan. The allocation, executed off-exchange on May 28, 2026...
MAIRE Grants CFO Deferred Shares Under Long-Term Incentive Plan
May 8, 2026
MAIRE S.p.A. has allocated 37,598 ordinary shares free of charge to its Group Chief Financial Officer, Mariano Avanzi, under the company’s 2021–2023 Long-Term Incentive Plan approved by shareholders in April 2021. The off-exchange awar...
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 ...
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.