(MF) Wendel - Overview
Stock: Equity, Debt, Secondary, Industrial, Healthcare
Dividends
| Dividend Yield | 7.43% |
| Yield on Cost 5y | 7.77% |
| Yield CAGR 5y | 20.92% |
| Payout Consistency | 87.0% |
| Payout Ratio | 57.8% |
| Risk 5d forecast | |
|---|---|
| Volatility | 19.2% |
| Relative Tail Risk | -2.76% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.08 |
| Alpha | -7.00 |
| Character TTM | |
|---|---|
| Beta | 0.186 |
| Beta Downside | 0.304 |
| Drawdowns 3y | |
|---|---|
| Max DD | 33.48% |
| CAGR/Max DD | -0.03 |
Description: MF Wendel January 10, 2026
Wendel (Paris: MF) is a historic French private-equity house (founded 1704) that raises capital for equity-financing across the mid-market and later-stage spectrum, typically via leveraged buy-outs, acquisitions and balance-sheet investments. It targets both listed and private companies, deploying between €300 m and €800 m per transaction and seeking majority, control, or large-minority stakes that come with board representation.
The firm’s sector focus spans B2B services, education technology, energy-transition assets, technology services, software, business services, healthcare and industrial technology. Recent macro-drivers-such as accelerated digital adoption in ed-tech, rising demand for low-carbon industrial solutions, and the shift toward subscription-based SaaS models-align with Wendel’s investment themes, potentially supporting higher EBITDA multiples (average 10-12× in comparable peer deals).
Geographically, Wendel concentrates on Africa, Europe (with a particular emphasis on France and Western Europe), and North America (U.S. and Canada). In 2023 the firm reported €13 bn of net asset value and a revenue run-rate of roughly €2.5 bn, reflecting a diversified portfolio that mitigates region-specific risk. Its private-debt and secondary-market activities add an extra layer of yield generation, especially valuable in a low-interest-rate environment.
Assuming Wendel maintains its current capital deployment cadence, the firm’s exposure to energy-transition projects could benefit from EU Green Deal incentives, while its B2B SaaS holdings may capture the sector’s projected 12 % CAGR through 2028. However, the lack of publicly disclosed IRR targets and the opaque nature of private-debt pricing introduce uncertainty into precise performance forecasts.
For a deeper quantitative view of Wendel’s valuation metrics, the ValueRay platform offers a granular breakdown of its financials.
Piotroski VR‑10 (Strict, 0-10) 7.0
| Net Income: 334.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA 7.18 > 1.0 |
| NWC/Revenue: 20.82% < 20% (prev 42.89%; Δ -22.08% < -1%) |
| CFO/TA 0.19 > 3% & CFO 2.96b > Net Income 334.8m |
| Net Debt (4.02b) to EBITDA (1.87b): 2.15 < 3 |
| Current Ratio: 1.80 > 1.5 & < 3 |
| Outstanding Shares: last quarter (53.8m) vs 12m ago 21.93% < -2% |
| Gross Margin: 59.03% > 18% (prev 0.13%; Δ 5890 % > 0.5%) |
| Asset Turnover: 76.90% > 50% (prev 45.75%; Δ 31.15% > 0%) |
| Interest Coverage Ratio: 3.04 > 6 (EBITDA TTM 1.87b / Interest Expense TTM 463.4m) |
Altman Z'' 2.82
| A: 0.16 (Total Current Assets 5.59b - Total Current Liabilities 3.10b) / Total Assets 15.70b |
| B: 0.25 (Retained Earnings 3.93b / Total Assets 15.70b) |
| C: 0.09 (EBIT TTM 1.41b / Avg Total Assets 15.55b) |
| D: 0.34 (Book Value of Equity 3.71b / Total Liabilities 11.02b) |
| Altman-Z'' Score: 2.82 = A |
Beneish M -3.68
| DSRI: 0.66 (Receivables 2.05b/1.83b, Revenue 11.96b/7.05b) |
| GMI: 0.21 (GM 59.03% / 12.52%) |
| AQI: 1.02 (AQ_t 0.57 / AQ_t-1 0.56) |
| SGI: 1.70 (Revenue 11.96b / 7.05b) |
| TATA: -0.17 (NI 334.8m - CFO 2.96b) / TA 15.70b) |
| Beneish M-Score: -3.68 (Cap -4..+1) = AAA |
What is the price of MF shares?
Over the past week, the price has changed by +7.62%, over one month by +8.41%, over three months by +14.62% and over the past year by +0.51%.
Is MF a buy, sell or hold?
What are the forecasts/targets for the MF price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 110.5 | 25.1% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 95.7 | 8.4% |
MF Fundamental Data Overview February 03, 2026
P/S = 0.4069
P/B = 1.1223
P/EG = -0.33
Revenue TTM = 11.96b EUR
EBIT TTM = 1.41b EUR
EBITDA TTM = 1.87b EUR
Long Term Debt = 5.61b EUR (from longTermDebt, last quarter)
Short Term Debt = 563.5m EUR (from shortTermDebt, last quarter)
Debt = 6.63b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 4.02b EUR (from netDebt column, last quarter)
Enterprise Value = 7.50b EUR (3.48b + Debt 6.63b - CCE 2.61b)
Interest Coverage Ratio = 3.04 (Ebit TTM 1.41b / Interest Expense TTM 463.4m)
EV/FCF = 3.11x (Enterprise Value 7.50b / FCF TTM 2.41b)
FCF Yield = 32.15% (FCF TTM 2.41b / Enterprise Value 7.50b)
FCF Margin = 20.17% (FCF TTM 2.41b / Revenue TTM 11.96b)
Net Margin = 2.80% (Net Income TTM 334.8m / Revenue TTM 11.96b)
Gross Margin = 59.03% ((Revenue TTM 11.96b - Cost of Revenue TTM 4.90b) / Revenue TTM)
Gross Margin QoQ = 11.14% (prev none%)
Tobins Q-Ratio = 0.48 (Enterprise Value 7.50b / Total Assets 15.70b)
Interest Expense / Debt = 2.18% (Interest Expense 144.8m / Debt 6.63b)
Taxrate = 33.37% (67.1m / 201.1m)
NOPAT = 938.4m (EBIT 1.41b * (1 - 33.37%))
Current Ratio = 1.80 (Total Current Assets 5.59b / Total Current Liabilities 3.10b)
Debt / Equity = 2.16 (Debt 6.63b / totalStockholderEquity, last quarter 3.07b)
Debt / EBITDA = 2.15 (Net Debt 4.02b / EBITDA 1.87b)
Debt / FCF = 1.67 (Net Debt 4.02b / FCF TTM 2.41b)
Total Stockholder Equity = 3.05b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.15% (Net Income 334.8m / Total Assets 15.70b)
RoE = 10.96% (Net Income TTM 334.8m / Total Stockholder Equity 3.05b)
RoCE = 16.26% (EBIT 1.41b / Capital Employed (Equity 3.05b + L.T.Debt 5.61b))
RoIC = 10.34% (NOPAT 938.4m / Invested Capital 9.07b)
WACC = 3.23% (E(3.48b)/V(10.11b) * Re(6.60%) + D(6.63b)/V(10.11b) * Rd(2.18%) * (1-Tc(0.33)))
Discount Rate = 6.60% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 33.33 | Cagr: 10.67%
[DCF Debug] Terminal Value 86.58% ; FCFF base≈1.95b ; Y1≈2.00b ; Y5≈2.22b
Fair Price DCF = 1465 (EV 66.13b - Net Debt 4.02b = Equity 62.11b / Shares 42.4m; r=5.90% [WACC]; 5y FCF grow 2.40% → 2.90% )
EPS Correlation: -36.76 | EPS CAGR: -36.24% | SUE: 0.0 | # QB: 0
Revenue Correlation: -61.96 | Revenue CAGR: -23.12% | SUE: 0.04 | # QB: 0
EPS next Year (2026-12-31): EPS=10.97 | Chg30d=+0.635 | Revisions Net=+1 | Growth EPS=+22.1% | Growth Revenue=+3.6%