(MUX) Mutares SE & Co. KGaA - Overview
Stock: Automotive, Engineering, Healthcare, Consumer, Packaging
Dividends
| Dividend Yield | 5.80% |
| Yield on Cost 5y | 14.64% |
| Yield CAGR 5y | 7.46% |
| Payout Consistency | 81.5% |
| Payout Ratio | 104.7% |
| Risk 5d forecast | |
|---|---|
| Volatility | 36.9% |
| Relative Tail Risk | -6.64% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.59 |
| Alpha | 20.75 |
| Character TTM | |
|---|---|
| Beta | 0.203 |
| Beta Downside | 0.357 |
| Drawdowns 3y | |
|---|---|
| Max DD | 49.02% |
| CAGR/Max DD | 0.47 |
Description: MUX Mutares SE & Co. KGaA December 25, 2025
Mutares SE & Co. KGaA (XETRA:MUX) is a Munich-based private-equity firm founded in 2008 that focuses on acquiring controlling stakes in small- and medium-sized companies (revenues €100 m–€750 m, EBITDA up to €5 m) across a broad set of industries, including automotive & mobility, engineering, consumer goods, technology, and healthcare equipment.
The firm emphasizes “platform” and “add-on” buy-outs, often targeting firms with established market positions in Europe, North America, and Asia. Its investment horizon is typically three to five years, and it prefers to fund deals with its own balance-sheet capital and co-investments rather than external fund structures.
Recent data (FY 2023) show Mutares managing roughly €1.2 bn of assets under management, with an average portfolio company EBITDA margin of 6.5 % and a post-transaction leverage ratio of 2.3×, reflecting its focus on modestly leveraged, cash-flow-positive businesses.
Key economic drivers for Mutares’ target sectors include the ongoing electrification and digitalization of the automotive supply chain, rising demand for sustainable packaging in the wood-paper segment, and continued infrastructure spending in construction-related markets, all of which support the firm’s turn-around and growth-oriented strategy.
For a deeper quantitative assessment, you may find the ValueRay platform’s proprietary valuation metrics useful.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: -172.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.11 > 0.02 and ΔFCF/TA -5.67 > 1.0 |
| NWC/Revenue: 1.15% < 20% (prev 5.15%; Δ -4.01% < -1%) |
| CFO/TA -0.09 > 3% & CFO -497.6m > Net Income -172.5m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.04 > 1.5 & < 3 |
| Outstanding Shares: last quarter (21.6m) vs 12m ago -2.55% < -2% |
| Gross Margin: 35.43% > 18% (prev 0.23%; Δ 3520 % > 0.5%) |
| Asset Turnover: 203.1% > 50% (prev 133.8%; Δ 69.32% > 0%) |
| Interest Coverage Ratio: -4.06 > 6 (EBITDA TTM -374.1m / Interest Expense TTM 198.4m) |
Altman Z'' -0.31
| A: 0.02 (Total Current Assets 2.83b - Total Current Liabilities 2.71b) / Total Assets 5.27b |
| B: 0.15 (Retained Earnings 772.6m / Total Assets 5.27b) |
| C: -0.17 (EBIT TTM -805.2m / Avg Total Assets 4.81b) |
| D: 0.19 (Book Value of Equity 811.5m / Total Liabilities 4.33b) |
| Altman-Z'' Score: -0.31 = B |
Beneish M -2.63
| DSRI: 0.98 (Receivables 984.1m/595.2m, Revenue 9.77b/5.82b) |
| GMI: 0.66 (GM 35.43% / 23.23%) |
| AQI: 1.28 (AQ_t 0.12 / AQ_t-1 0.09) |
| SGI: 1.68 (Revenue 9.77b / 5.82b) |
| TATA: 0.06 (NI -172.5m - CFO -497.6m) / TA 5.27b) |
| Beneish M-Score: -2.63 (Cap -4..+1) = A |
What is the price of MUX shares?
Over the past week, the price has changed by -3.07%, over one month by +3.27%, over three months by +18.83% and over the past year by +25.76%.
Is MUX a buy, sell or hold?
What are the forecasts/targets for the MUX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 42.9 | 35.9% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 38.1 | 20.9% |
MUX Fundamental Data Overview February 02, 2026
P/E Trailing = 16.4724
P/E Forward = 19.6078
P/S = 0.1131
P/B = 0.7352
Revenue TTM = 9.77b EUR
EBIT TTM = -805.2m EUR
EBITDA TTM = -374.1m EUR
Long Term Debt = 631.9m EUR (from longTermDebt, last quarter)
Short Term Debt = 374.1m EUR (from shortTermDebt, last quarter)
Debt = 1.47b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.04b EUR (from netDebt column, last quarter)
Enterprise Value = 1.64b EUR (601.3m + Debt 1.47b - CCE 431.4m)
Interest Coverage Ratio = -4.06 (Ebit TTM -805.2m / Interest Expense TTM 198.4m)
EV/FCF = -2.79x (Enterprise Value 1.64b / FCF TTM -589.3m)
FCF Yield = -35.91% (FCF TTM -589.3m / Enterprise Value 1.64b)
FCF Margin = -6.03% (FCF TTM -589.3m / Revenue TTM 9.77b)
Net Margin = -1.77% (Net Income TTM -172.5m / Revenue TTM 9.77b)
Gross Margin = 35.43% ((Revenue TTM 9.77b - Cost of Revenue TTM 6.31b) / Revenue TTM)
Gross Margin QoQ = 39.64% (prev 36.59%)
Tobins Q-Ratio = 0.31 (Enterprise Value 1.64b / Total Assets 5.27b)
Interest Expense / Debt = 4.96% (Interest Expense 73.0m / Debt 1.47b)
Taxrate = 2.56% (7.10m / 277.6m)
NOPAT = -784.6m (EBIT -805.2m * (1 - 2.56%)) [loss with tax shield]
Current Ratio = 1.04 (Total Current Assets 2.83b / Total Current Liabilities 2.71b)
Debt / Equity = 1.54 (Debt 1.47b / totalStockholderEquity, last quarter 953.9m)
Debt / EBITDA = -2.78 (negative EBITDA) (Net Debt 1.04b / EBITDA -374.1m)
Debt / FCF = -1.76 (negative FCF - burning cash) (Net Debt 1.04b / FCF TTM -589.3m)
Total Stockholder Equity = 875.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.59% (Net Income -172.5m / Total Assets 5.27b)
RoE = -19.72% (Net Income TTM -172.5m / Total Stockholder Equity 875.0m)
RoCE = -53.44% (EBIT -805.2m / Capital Employed (Equity 875.0m + L.T.Debt 631.9m))
RoIC = -46.29% (negative operating profit) (NOPAT -784.6m / Invested Capital 1.70b)
WACC = 5.36% (E(601.3m)/V(2.07b) * Re(6.66%) + D(1.47b)/V(2.07b) * Rd(4.96%) * (1-Tc(0.03)))
Discount Rate = 6.66% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -33.33 | Cagr: -1.28%
Fair Price DCF = unknown (Cash Flow -589.3m)
EPS Correlation: -26.32 | EPS CAGR: 0.0% | SUE: 0.0 | # QB: 0
Revenue Correlation: 87.68 | Revenue CAGR: 35.09% | SUE: -0.24 | # QB: 0
EPS next Year (2026-12-31): EPS=4.02 | Chg30d=+0.000 | Revisions Net=-1 | Growth EPS=-15.9% | Growth Revenue=+4.0%