MaireTecnimont SpA (MAIRE) AI Stock Analysis

• Market Cap: €4.20B
• Dividend Yield: 2.72%
• Average Volume (3M): 378.56K
• Price to Earnings (P/E): 16.5
• Beta (1Y): 1.16
• Revenue Growth: 30.91%
• EPS Growth: 40.89%
• Country: IT
• Employees: 9,966
• Sector: Services
• Sector Strength: N/A
• Industry: Engineering & Construction
• EPS (TTM): 0.20
• Shares Outstanding: 328,640,440
• 10 Day Avg. Volume: 435,367
• 30 Day Avg. Volume: 378,556
• PEG Ratio: 0.24
• Price to Book (P/B): 4.55
• Price to Sales (P/S): 0.46
• P/FCF Ratio: 9.88
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €14.00
• Price Target Upside: 6.95% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: €13.50 ▲(3.13% Upside)

MaireTecnimont SpA's overall stock score reflects strong financial performance and moderate valuation, balanced by technical indicators suggesting a lack of short-term momentum. The company's high leverage is a risk factor that requires monitoring.

Positive Factors

Revenue Growth

Strong revenue growth indicates expanding market presence and effective execution of long-term contracts, enhancing future earnings potential.

Cash Generation

Robust free cash flow growth supports financial flexibility, enabling strategic investments and debt reduction, strengthening long-term stability.

Profitability

Improved profitability margins reflect efficient operations and cost management, enhancing the company's ability to sustain earnings growth.

Negative Factors

High Leverage

High leverage can limit financial flexibility and increase risk, potentially impacting the company's ability to invest in growth opportunities.

Cash Conversion Challenges

Low cash conversion from income indicates potential inefficiencies in operations, which could affect liquidity and operational flexibility.

Equity Financing

A low equity ratio suggests reliance on debt financing, which could pose risks during economic downturns or interest rate hikes, affecting long-term sustainability.

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, liquefaction, transportation, storage, regasification, and compression and pumping stations principally for the natural gas chain; chemical and petrochemical industry plants to produce polyethylene and polypropylene, ethylene oxide, ethylene glycol, purified terephthalic acid, ammonia, urea, and fertilizers; and hydro-carbon electric power plants. This segment also issues licenses on patented technology and proprietary know-how to urea producers; designs, packages, and sells fertilizer production equipment; and provides Sulphur recovery process, hydrogen production, and high temperature furnace services. The Green Energy segment offers mechanical plastics recycling and recycled chemicals promotion services; and develops additives and substitutes to oil for fuels or plastics from renewables activities. This segment also provides maintenance and facility management services; general services for temporary construction facilities; and infrastructure design and construction services. In addition, it undertakes works on renewables sector plants, which primarily include solar and wind plants. The company is headquartered in Milan, Italy. Maire Tecnimont S.p.A. operates as a subsidiary of GLV Capital S.p.A.

How the Company Makes Money

MaireTecnimont generates revenue primarily through its engineering, procurement, and construction (EPC) contracts in the oil, gas, and petrochemical industries. The company's revenue model is largely project-based, involving long-term contracts with clients for the development of complex industrial facilities. Key revenue streams include fees earned from the design and construction of plants, as well as maintenance services for existing installations. Additionally, MaireTecnimont benefits from strategic partnerships with major oil and gas companies, which provide a steady pipeline of projects. The company also invests in technology and innovation, developing proprietary processes that enhance its service offerings and attract new clients, thereby contributing to its earnings.

MaireTecnimont SpA Financial Statement Overview

Summary

MaireTecnimont SpA shows strong revenue growth and profitability with efficient cost management and a robust return on equity. However, high leverage and declining free cash flow growth present potential risks. Improvement in cash flow management is needed to sustain growth and mitigate financial risks.

Income Statement

MaireTecnimont SpA has demonstrated strong revenue growth with a TTM increase of 4.84% and a consistent upward trend over the past years. The gross profit margin has improved significantly to 29.72% in the TTM, indicating efficient cost management. Net profit margin has also shown a slight improvement to 3.54%. The EBIT and EBITDA margins are stable, reflecting sound operational performance. Overall, the income statement reflects robust growth and profitability.

Balance Sheet

The company's debt-to-equity ratio is relatively high at 1.80, indicating significant leverage, which could pose risks if not managed properly. However, the return on equity is strong at 39.62%, showcasing effective use of equity to generate profits. The equity ratio is moderate, suggesting a balanced asset structure. While profitability is strong, the high leverage warrants caution.

Cash Flow

Free cash flow has decreased by 18.87% in the TTM, which is a concern. The operating cash flow to net income ratio is low at 0.038, indicating potential challenges in converting income into cash. However, the free cash flow to net income ratio remains healthy at 0.86, suggesting that the company is still generating sufficient cash relative to its net income. Overall, cash flow management needs improvement.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	6.89B	5.86B	4.23B	3.42B	2.84B	2.57B
Gross Profit	1.79B	1.18B	960.68M	623.61M	481.83M	443.31M
EBITDA	457.61M	399.19M	257.73M	257.56M	227.96M	205.99M
Net Income	254.67M	198.68M	125.36M	89.89M	83.30M	57.80M
Balance Sheet
Total Assets	8.25B	7.41B	6.34B	5.39B	5.21B	4.92B
Cash, Cash Equivalents and Short-Term Investments	1.22B	1.16B	917.09M	762.46M	677.10M	705.33M
Total Debt	1.20B	994.28M	862.57M	897.79M	876.65M	1.02B
Total Liabilities	7.55B	6.77B	5.76B	4.86B	4.68B	4.47B
Stockholders Equity	644.70M	595.79M	526.84M	491.57M	493.25M	412.84M
Cash Flow
Free Cash Flow	257.78M	274.73M	335.16M	251.38M	165.90M	-45.76M
Operating Cash Flow	282.35M	284.94M	369.70M	275.78M	196.50M	-20.59M
Investing Cash Flow	-69.18M	-51.56M	-58.97M	-25.22M	-31.02M	-14.78M
Financing Cash Flow	-682.00K	4.90M	-155.83M	-165.20M	-193.71M	13.30M

MaireTecnimont SpA Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.09
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 13.09 is above the 20-day moving average (MA) of 12.75, above the 50-day MA of 12.90, and above the 200-day MA of 11.41, indicating a bullish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 56.24 is Neutral, neither overbought nor oversold. The STOCH value of 62.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:MAIRE.

MaireTecnimont SpA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DAN	79 Outperform	€3.23B	16.68	8.18%	0.62%	-1.69%	-7.64%
IP	76 Outperform	€4.97B	22.68	10.99%	0.71%	-2.00%	2.11%
WBD	73 Outperform	€3.48B	13.89	15.86%	2.32%	21.15%	17.26%
MAIRE	69 Neutral	€4.20B	16.47	42.37%	2.72%	30.91%	40.89%
ERG	69 Neutral	€3.27B	23.34	6.61%	4.61%	-3.04%	-39.96%
FCT	63 Neutral	€5.32B	41.22	14.30%	―	18.44%	―
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

MaireTecnimont SpA Corporate Events

MAIRE S.p.A. Advances Share Buyback Program to Support Incentive Plans

MAIRE S.p.A. has implemented a share buyback program to support its long-term incentive plans, purchasing 356,495 shares on the Euronext Milan market. This move is part of the company’s strategy to enhance employee ownership and align incentives with corporate goals, potentially strengthening its market position and stakeholder relationships.

MAIRE S.p.A. Announces 2026 Corporate Events Calendar

MAIRE S.p.A. has announced its corporate events calendar for 2026, including key dates for financial reporting and shareholder meetings. The company plans to continue providing interim management reports and will hold a Capital Markets Day to present its strategic plan. Although the month for potential dividend payment is indicated, no decision has been made regarding dividend distribution, and this announcement is in compliance with Borsa Italiana S.p.A. regulations.

MAIRE S.p.A. Launches Share Buyback Program to Support Incentive Plans

MAIRE S.p.A. has announced the initiation of a share buyback program starting December 1, 2025, to support its various long-term incentive plans. The program, authorized by the shareholders’ meeting, aims to purchase up to 10 million shares, representing 3.04% of the company’s ordinary shares, with a maximum estimated outlay of approximately 126.9 million euros. This move is expected to enhance the company’s incentive plans and potentially impact its market positioning by aligning employee interests with shareholder value.

MAIRE S.p.A. Pursues Legal Action Against EuroChem Over Contract Dispute

MAIRE S.p.A. is engaged in a legal dispute with EuroChem NW2 and EuroChem AG over the unlawful termination of the K2 Contracts, seeking damages exceeding Euro 700 million. The company has obtained favorable judgments from the UK courts and international arbitration tribunals, but EuroChem continues to defy these orders by seeking refuge in Russian courts. This ongoing legal battle underscores MAIRE’s commitment to protecting its contractual rights and could significantly impact its financial standing and industry reputation.

MaireTecnimont Raises €275 Million Through Sustainability-Linked Notes Offering

MaireTecnimont S.p.A. has successfully completed the offering of its ‘Senior Unsecured Sustainability-Linked Notes Due 2030,’ raising €275 million. The proceeds will be used to refinance existing debt, aligning with the company’s strategy to optimize its financial structure. The notes, which will be traded on the Luxembourg Stock Exchange and Borsa Italiana, carry a 4% interest rate, with potential adjustments based on decarbonization targets. Additionally, the company plans an early redemption of its 2028 notes, further enhancing its financial strategy.

Maire S.p.A. Sets Interest Rate for Sustainability-Linked Notes

Maire S.p.A. has announced the interest rate for its Senior Unsecured Sustainability-Linked Notes due 2030, set at 4.00% gross annual. The bond, aimed at European institutional and Italian retail investors, includes a potential interest rate increase if decarbonization targets are not met by 2028, and offers early redemption options starting from the third year.

MAIRE S.p.A. Releases Interim Financial Report for September 2025

MAIRE S.p.A. has made its Interim Financial Report as of 30 September 2025 available to the public, following its approval by the Board of Directors. This report’s release underscores the company’s commitment to transparency and may impact its market positioning by providing stakeholders with insights into its financial health and strategic direction.

MaireTecnimont Achieves Strong Growth in 2025 with Strategic Expansions

MaireTecnimont S.p.A. reported significant growth in the first nine months of 2025, with revenues reaching €5.2 billion, a 26.7% increase, and EBITDA growing by 33.2% to €358.1 million. The company strengthened its order backlog to €13.9 billion and anticipates high-range revenue and margin growth for the year, driven by strong performance in its NEXTCHEM and Integrated E&C Solutions units, as well as strategic geographical expansions.

MaireTecnimont’s NEXT-N Secures Major Contract for Nuclear Plant Design

MaireTecnimont SpA, through its subsidiary NEXT-N, has secured a 70 million euro contract from newcleo SA to develop the basic design of a new generation nuclear plant’s conventional island and balance of plant. This initiative marks the launch of NEXT-N, which aims to create new intellectual property and provide technical services for nuclear energy and low-carbon chemistry. The project is expected to accelerate the commercialization of newcleo’s advanced modular reactor technology and integrate it with hydrogen and ammonia technologies, promoting zero-emission chemical production. The collaboration is set to transform the Italian supply chain and foster new skills in Italy and Europe.