Rankings Food, drinks & restaurants Marimekko
Marimekko
77
15070100
A view of the same findings, not a new score. How it works
A strong score: the model found few serious problems, but analysts see limited upside from here.
Biggest deductions
- Margin−4
- Quality of growth−4
- Weak demand in Finland−3
Strengths
- Pricing power+1
- Dividend covered by FCF+1
How the score is built
From 100 to 77, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 9.41 EUR
- Median analyst target
- 11.25 EUR
- Upside to median
- +19.6%
- Analysts
- 4
- Target range
- 10.60 – 12.00 EUR
- 52-week change
- −26%
- P/E (trailing)
- 15.5
- Forward P/E
- 14.1
- PEG
- 1.91
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−10 of −30
- −4MarginOperating margin has fallen every year from 20.4% (2021) to 17.1% (2025) and 16.6% (TTM), and H1 2026 gave only 12.2% comparable margin; ROIC has fallen from 54% to 34%.
- −4Quality of growthOperating profit has stood still at EUR 30.6–32.5m since 2021, and EPS was EUR 0.60 in 2021 and EUR 0.61 TTM; revenue grows only 3–5% a year. The company has become bigger, not stronger.
- −2Domestic market dependenceFinland still accounted for 57% of revenue in Q2 and fell 7%; growth comes entirely from international markets (especially APAC), which in H1 made up only 51% of sales.
Price
Today's multiples against the company's own history and its peers. · 2 findings−2 of −35
- −1Multiples vs own historyForward P/E 13.8 and EV/EBITDA 9.2 are below the entire 2021–2025 range (15.2–29.8 and 11.7–21.1), but P/B is still 5.9, and the low price reflects five years without earnings growth; analysts expect only 2% EPS growth in 2026.
- −1FCF yieldThe stated FCF yield of 10.5% is lifted by working capital and lease accounting; on analysts' FCF expectation for 2026 (EUR 26.7m) the yield is about 7% – reasonable, but not a clear bargain for a company with no growth.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−9 of −35
- −3Weak demand in FinlandRetail sales in Finland fell in a very price-sensitive market because certain campaigns performed worse than expected; Q2 revenue fell 1% and comparable operating profit fell to EUR 5.1m (11.7% margin).
- −3Guidance risk and costsFull-year guidance of a 16–19% margin requires a markedly stronger H2 after 12.2% in H1; fixed costs rose significantly, and H2 rests on non-recurring campaign deliveries to wholesale customers and 10–15 new stores.
- −2Macro and trade policyThe company itself writes that consumer confidence, purchasing power, geopolitics, trade policy and supply chains create significant uncertainty about the 2026 outlook.
- −1LiquidityAverage turnover of about 48,000 shares a day (under 0.5 m EUR), and free float is only about 17 m of 40 m shares.
Plus
Only documented strengths. · 2 findings+2 of +15
- +1Pricing powerThe gross margin has been stable at 60.5–61.7% every year since 2021 despite cost inflation.
- +1Dividend covered by FCFDividend of EUR 0.42 (4.5% direct yield) equals 43% of FCF; ROE 41% and low debt (net debt/EBITDA 0.2).
Caveats
What the score does not capture, or where the data is weak.
Design and clothing company; no industry on the list fits, so 'Consumer: food, beverages & restaurants' was chosen as the nearest consumer industry. Small company (market cap about EUR 376m, about 4 analysts, low daily turnover). TTM FCF (EUR 39m) is lifted by working capital and IFRS 16 (lease payments sit in financing), so the 10% FCF yield overstates; analysts expect EUR 27m in 2026. Insider trading has not been investigated.
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