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MERKO.AT$33.00+5.10%
Fair $33.00+0.0%

MERKO.AT

Mermeren Kombinat AD

Basic Materials / Other Industrial Metals & MiningAthens

$33.00

+1.60 (+5.10%)

Fairly Valued+0.0%Fair Value $33.00Fund rank 39/100 · Data gapFallback financials|
SA 52/C
F-Score: 7/9

FCF base 3Y

n/d

n/d CAGR · yield n/d

FCF base 5Y

n/d

n/d base · n/d expected

Precio de entrada

n/d

MOS 23% · confianza 25%

FCF escenarios

weak_data · normalized FCF $816.3M · quality 85.7/100

Data gap 39/100
Bear 5Yn/dn/d
Base 5Yn/dn/d
Bull 5Yn/dn/d
Return 0/100Downside 20/100Model quality 92/100Data QA 20/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

52/100

C

Piotroski

7/9

balance/quality

Valuation

50/100

+0.0% upside

5Y CAGR

+0.0%

50/100

Data QA

16/100

SEC 0%

Latest source: unknownPeriods: 4Warnings: 0unknown: 4
No SEC-backed annual rows; valuation uses fallback financial data. Sector-specific commodity mid-cycle model required: targets are disabled until normalized cycle price/cost-curve/reserve data exists.
Thesis & Journal · MERKO.ATLocal privado en este navegador · Mermeren Kombinat AD
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$155M

P/E

13.5x

↓

EV/EBITDA

-0.1x

↓

ROE

39.8%

↑

Gross Margin

64.1%

↑

Debt/Equity

0.00

↓
52-Week Range$33
$30$46

TradingView lightweight chart

MERKO.AT price, volumen y niveles de valoración

Último $33.00Periodo +382.5%
Fair value: $33.00

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2021–2024 · 3 años de histórico normalizado

Revenue CAGR

+1.6%

FCF CAGR

+0.8%

FCF margin

46.7%

FCF / Net income

1.00x

Latest source

Provider fallback

Margin decomposition

Último año: revenue $1.95B · net income $913.8M · FCF $910.2M

2021-FY → 2024-FY

Gross margin

64.1%-6.5% pts

Operating margin

53.0%-3.0% pts

Net margin

46.9%-2.2% pts

FCF margin

46.7%-1.2% pts
MetricTTM
2024
2023
2022
2021
Income Statement
Revenue$1.95B$1.95B$1.80B$1.87B$1.86B
Net Income$913.8M$913.8M$843.2M$859.6M$911.9M
EBITDA$1.16B$1.16B$1.06B$1.08B$1.15B
EPS195.00195.00179.90183.40194.60
Gross Margin64.1%64.1%65.0%65.9%70.5%
Operating Margin53.0%53.0%52.4%51.4%56.0%
Net Margin46.9%46.9%46.8%45.9%49.1%
Balance Sheet
Debt/Equity0.000.000.00——
Cash Flow
Free Cash Flow$910.2M$910.2M$812.6M$816.3M$889.0M
Returns
ROE39.8%39.8%38.5%34.1%34.4%
Valuation
P/E13.4713.470.270.260.25
EV/EBITDA-0.10-0.100.04-0.16-0.37
P/B0.070.070.100.090.08
Growth & Yield
Revenue Growth8.1%8.1%-3.8%0.8%—
EPS Growth8.4%8.4%-1.9%-5.8%—
Dividend Yield7.6%7.6%———

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growthterminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

-75.3%

fácil

EPS terminal req.

$2.93

Spread vs growth

83.7%

5Y implied EPS CAGR

-55.1%

fácil

EPS terminal req.

$3.54

Spread vs growth

63.5%

10Y implied EPS CAGR

-29.8%

fácil

EPS terminal req.

$5.71

Spread vs growth

38.1%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total -4.1%

Total return

-4.1%

Start / end P/E

0.2x → 0.2x

EPS bridge

179.90 → 195.00

Residual

-1.6%

EPS growth+8.4%
Multiple rerating-18.6%
Dividend+7.6%
Residual / FX / buybacks / cross-term-1.6%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.