MF Stock Analysis: Wendel | PA
Asset Management | PA, France | Market Cap: 3.469m EUR | 12M Return: 19.5% | FR0000121204 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.07M
Warnings
No concerns identified
Tailwinds
Seasonality 11.8 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Wendel is a Paris-based investment firm that provides equity financing to middle-market and later-stage companies, including through leveraged buyouts. It invests in listed and private businesses, as well as private debt and secondary investments, with a focus on sectors such as technology, healthcare, education, energy transition and industrial technology.
The firm targets majority, control or significant minority positions in Europe, North America and Africa, and often seeks board representation at portfolio companies. Its model combines long-term balance-sheet investments with active involvement in the companies it backs.
- Portfolio company earnings and valuations drive net asset value
- Asset sales, acquisitions and buybacks shape capital allocation and NAV discount
- Higher interest rates pressure leveraged holdings and exit valuations
| Net Income: -86.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 0.65 > 1.0 |
| NWC/Revenue: 8.87% < 20% (prev 34.79%; Δ -25.92% < -1%) |
| CFO/TA 0.10 > 3% & CFO 1.48b > Net Income -86.6m |
| Net Debt (4.74b) to EBITDA (1.37b): 3.46 < 3 |
| Current Ratio: 1.22 > 1.5 & < 3 |
| Outstanding Shares: last quarter (41.6m) vs 12m ago -5.29% < -2% |
| Gross Margin: 11.61% > 18% (prev 11.39%; Δ 0.22% > 0.5%) |
| Asset Turnover: 51.03% > 50% (prev 45.57%; Δ 5.46% > 0%) |
| Interest Coverage Ratio: 4.35 > 6 (EBIT TTM 936.9m / Interest Expense TTM 215.2m) |
| A: 0.05 (Total Current Assets 3.88b - Total Current Liabilities 3.18b) / Total Assets 15.3b |
| B: 0.27 (Retained Earnings 4.13b / Total Assets 15.3b) |
| C: 0.06 (EBIT TTM 936.9m / Avg Total Assets 15.5b) |
| D: 0.30 (Book Value of Equity 3.08b / Total Liabilities 10.3b) |
| Altman-Z'' = 1.90 = BBB |
| DSRI: 0.88 (Receivables 1.99b/2.05b, Revenue 7.90b/7.15b) |
| GMI: 0.98 (GM 11.39% / 11.61%) |
| AQI: 1.20 (AQ_t 0.69 / AQ_t-1 0.57) |
| SGI: 1.10 (Revenue 7.90b / 7.15b) |
| TATA: -0.10 (NI -86.6m - CFO 1.48b) / TA 15.3b) |
| Beneish M = -2.96 (Cap -4..+1) = A |
As of November 12, 2026, the stock is trading at EUR 89.35 with a total of 23,334 shares traded. Over the past week, the price has changed by +0.45%, over one month by +11.69%, over three months by +3.29% and over the past year by +19.50%.
Current recommended Stop Loss: 87.20 (which is 2.4% or 1.5 ATR below the current price).
Wendel has no consensus analysts rating.
P/E Forward = 15.4321
P/S = 0.4389
P/B = 1.1169
P/EG = 0.7799
Revenue TTM = 7.90b EUR
EBIT TTM = 936.9m EUR
EBITDA TTM = 1.37b EUR
Long Term Debt = 4.24b EUR (from longTermDebt, last quarter)
Short Term Debt = 982.8m EUR (from shortTermDebt, last quarter)
Debt = 6.20b EUR (from shortLongTermDebtTotal, last quarter) + Leases 558.1m
Net Debt = 4.74b EUR (calculated: Debt 6.20b - CCE 1.47b)
Enterprise Value = 8.20b EUR (3.47b + Debt 6.20b - CCE 1.47b)
Interest Coverage Ratio = 4.35 (Ebit TTM 936.9m / Interest Expense TTM 215.2m)
EV/FCF = 6.40x (Enterprise Value 8.20b / FCF TTM 1.28b)
FCF Yield = 15.62% (FCF TTM 1.28b / Enterprise Value 8.20b)
FCF Margin = 16.21% (FCF TTM 1.28b / Revenue TTM 7.90b)
Net Margin = -1.10% (Net Income TTM -86.6m / Revenue TTM 7.90b)
Gross Margin = 11.61% ((Revenue TTM 7.90b - Cost of Revenue TTM 6.99b) / Revenue TTM)
Gross Margin QoQ = 11.40% (prev 11.82%)
Tobins Q-Ratio = 0.54 (Enterprise Value 8.20b / Total Assets 15.3b)
Interest Expense / Debt = 3.47% (Interest Expense 215.2m / Debt 6.20b)
Taxrate = 43.01% (292.3m / 679.6m)
NOPAT = 533.9m (EBIT 936.9m * (1 - 43.01%))
Current Ratio = 1.22 (Total Current Assets 3.88b / Total Current Liabilities 3.18b)
Debt / Equity = 2.01 (Debt 6.20b / totalStockholderEquity, last quarter 3.08b)
Debt / EBITDA = 3.46 (Net Debt 4.74b / EBITDA 1.37b)
Debt / FCF = 3.70 (Net Debt 4.74b / FCF TTM 1.28b)
Total Stockholder Equity = 3.22b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.56% (Net Income -86.6m / Total Assets 15.3b)
RoE = -2.69% (Net Income TTM -86.6m / Total Stockholder Equity 3.22b)
RoCE = 12.56% (EBIT 936.9m / Capital Employed (Equity 3.22b + L.T.Debt 4.24b))
RoIC = 4.21% (NOPAT 533.9m / Invested Capital 12.7b)
WACC = 3.91% (E(3.47b)/V(9.67b) * Re(7.37%) + D(6.20b)/V(9.67b) * Rd(3.47%) * (1-Tc(0.43)))
Discount Rate = 7.37% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 40.59 | Cagr: -2.08%
[DCF] Terminal Value 76.14% ; FCFF base≈1.25b ; Y1≈1.32b ; Y5≈1.53b
[DCF] Fair Price = 486.3 (EV 23.5b - Net Debt 4.74b = Equity 18.8b / Shares 38.7m; r=8.35% [WACC [floored]]; 5y FCF grow 5.55% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: 45.91 | Revenue CAGR: 2.06% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=4.85 | Chg30d=+0.00% | Revisions=+0% | GrowthEPS=+27.7% | GrowthRev=+2.2%
EPS next Year (2027-12-31): EPS=5.03 | Chg30d=+0.00% | Revisions=+25% | GrowthEPS=+3.6% | GrowthRev=+3.8%
[Analyst] Revisions Ratio: +25% (up=1, down=0)