MARR S.p.A. (MARR) AI Stock Analysis

• Market Cap: €642.63M
• Dividend Yield: 6.42%
• Average Volume (3M): 155.37K
• Price to Earnings (P/E): 16.4
• Beta (1Y): 0.67
• Revenue Growth: 1.46%
• EPS Growth: -16.08%
• Country: IT
• Employees: 861
• Sector: Services
• Sector Strength: N/A
• Industry: Food Distribution
• EPS (TTM): 0.24
• Shares Outstanding: 66,525,120
• 10 Day Avg. Volume: 166,268
• 30 Day Avg. Volume: 155,373
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: €12.35
• Price Target Upside: 32.09% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

• Rating: 63 Neutral
• Price Target: €10.50 ▲(12.30% Upside)

The overall stock score for MARR S.p.A. is driven primarily by its mixed financial performance and bearish technical indicators. While the company shows stable revenue growth, challenges in profitability and cash flow management are notable. The stock's valuation is supported by a strong dividend yield, providing some appeal to income-focused investors. However, the bearish technical outlook suggests caution in the short term.

Positive Factors

Free Cash Flow

Analyst remains confident that a normalization is ongoing, supporting a double-digit free cash flow yield in FY26E.

Market Growth

The growth outperformed the reference market in Italy, which posted a decrease in quantity consumption in the ‘Hotels, meals and out-of-home’ category by 2%.

Negative Factors

Cost Challenges

The margin contraction is mainly attributable to a 60bps erosion in service costs, affected by the start-up costs of the Center-South platform and by higher electricity rates.

EBITDA Performance

EBITDA came in at EUR 47.6M, a 14.5% contraction year-over-year, with a margin erosion of 80bps to 4.8%.

MARR S.p.A. Business Overview & Revenue Model

Company Description

MARR S.p.A. commercializes and distributes perishable, non-perishable, frozen, and deep-frozen food products for foodservice operators in Italy, the European Union, and internationally. It offers meat products, such as poultry, beef, horse meat, mutton and lamb, game, pork, and veal products; and seafood products, including fresh and saltwater fish, lobsters and scampi, squids, calamari and molluscs, shrimps, fillets, sliced and pre-prepared items, tails and prawns, fresh fish products, and cuttlefishes and frozen octopuses. The company also provides grocery products comprising biscuits and sweets, chocolates and candies, preserved products, vegetable preserves, ice cream and pastries, honey, jams and spread creams, oil and vinegar, prepared and floury products, rice, pasta, pizza, salt, spices and ethnic, sauces and seasoning, fruits and vegetables, and gluten-free and organic products, as well as gastronomy services. In addition, it provides lard and shortening, milk, dairy products and cheese, cured meats, and eggs and egg products, as well as specialty foodstuffs made from pork, beef, poultry, and game; and beverages, liqueurs, and wines. Further, the company offers nonfood products, such as tablecloths and napkins, cleaning products and accessories, laundry products, hygiene, dishwashing, handwashing, and disposable products; and table dishes, cutlery, glasses, induction pots and pans, knife sets, buffet assortment, baking tins, patty pans and piping nozzles, and other kitchen products. Additionally, it offers various private label products. The company serves bars, fast food outlets, hotels, restaurants, canteens, and chains operators. It operates through a logistics-distribution network comprising approximately 40 distribution centers and agents with warehouses, cash and carry stores, and 800 delivery vehicles. The company was founded in 1972 and is headquartered in Rimini, Italy. MARR S.p.A. is a subsidiary of Cremonini S.p.A.

How the Company Makes Money

MARR generates revenue primarily through the wholesale distribution of food products to the Ho.Re.Ca sector. The company's main revenue streams include sales of fresh and frozen products, dry goods, and non-food items. MARR has established significant partnerships with various food manufacturers, enabling it to offer a wide array of products at competitive prices. Additionally, MARR benefits from a robust logistics and distribution network, which enhances its operational efficiency and customer service. The company's focus on customized services for clients, along with its ability to adapt to market trends, contributes to its earnings growth.

MARR S.p.A. Financial Statement Overview

Summary

MARR S.p.A. shows stable revenue growth but faces challenges in profitability and cash flow. The balance sheet is stable with a manageable leverage level, but there is room for improvement in reducing debt and optimizing cash flow.

Income Statement

The company shows stable revenue growth with a slight increase from 2023 to 2024. However, gross profit has significantly declined over the past year, affecting margins. The net profit margin is modest, indicating pressure on profitability. Despite a strong EBIT and EBITDA margin, the overall income statement reflects mixed performance.

Balance Sheet

The debt-to-equity ratio indicates a moderate level of leverage which is manageable. The return on equity is reasonable, showing moderate profitability for shareholders. The equity ratio suggests a balanced funding structure. Overall, the balance sheet is stable, but there is room for improvement in reducing debt.

Cash Flow

The free cash flow has decreased from the previous year, indicating challenges in cash generation. The operating cash flow to net income ratio suggests a moderate conversion of income into cash. The company has a weaker ability to convert free cash flow into net income, impacting liquidity. Cash flow management requires attention to sustain operations.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.03B	2.03B	1.88B	1.43B	1.07B
Gross Profit	441.65M	428.88M	378.81M	313.34M	211.98M
EBITDA	102.94M	102.37M	64.35M	77.07M	19.63M
Net Income	42.72M	47.13M	26.55M	35.07M	-2.41M
Balance Sheet
Total Assets	1.19B	1.23B	1.16B	1.17B	1.05B
Cash, Cash Equivalents and Short-Term Investments	103.19M	223.41M	191.66M	249.99M	251.49M
Total Debt	446.36M	456.74M	415.94M	394.21M	451.99M
Total Liabilities	845.90M	872.49M	821.00M	824.24M	716.58M
Stockholders Equity	345.63M	355.47M	341.46M	349.51M	338.11M
Cash Flow
Free Cash Flow	35.76M	41.10M	-20.83M	110.08M	17.12M
Operating Cash Flow	64.24M	67.74M	-8.02M	121.67M	30.78M
Investing Cash Flow	-29.35M	-28.51M	-16.72M	-13.92M	-13.90M
Financing Cash Flow	-50.14M	-7.49M	-33.59M	-109.25M	42.11M

MARR S.p.A. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 9.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:MARR, the sentiment is Negative. The current price of 9.35 is below the 20-day moving average (MA) of 9.99, below the 50-day MA of 9.69, and below the 200-day MA of 9.49, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 36.44 is Neutral, neither overbought nor oversold. The STOCH value of 11.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:MARR.

MARR S.p.A. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	66 Neutral	€7.14B	13.18	35.20%	3.64%	2.47%	-123.86%
MARR	63 Neutral	€642.63M	16.41	11.82%	6.42%	1.46%	-16.08%
WRG	―	€250.03M	8.18	11.62%	―	―	―
COM	78 Outperform	€1.08B	18.11		2.12%	-20.36%	-23.31%
AV	54 Neutral	€333.43M	―		―	-1.20%	―
EGLA	―	€588.84M	18.91		―	―	―
FUM	―	€144.75M	13.72		2.27%	―	―