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Italian engineering and construction (EPC) group that builds plants for petrochemicals, hydrocarbon processing and energy transition projects.
Italian engineering and construction (EPC) group that builds plants for petrochemicals, hydrocarbon processing and energy transition projects.
Wins large construction contracts for chemical and gas-processing plants, booking revenue as work advances, so the order backlog and cost control matter more than any single year's oil price. Its technology arm, which includes Stamicarbon, licenses fertilizer-process designs and earns fees that need little capital. Chairman Fabrizio Di Amato is the controlling shareholder.
In one line: An Italian Fluor/Jacobs for petrochemical and energy EPC projects.
Moat: narrow (process know-how, customer qualification, installed base). Deep process-licensing and EPC execution track record on complex plants, but project-based, competitively-bid business with execution risk.
Headquarters: Milan, Italy · Founded: 1919 · Employees: 10,755
Size MAIRE (MAIRE.MI) is an Italy Industrials company (Engineering & Construction) with a market value of $4.81B, the 47th largest of 123 Italy companies the cockpit tracks. Shares closed at €13.07 on 6 Nov 2026.
Performance Over six months the shares fell 11.8%, against -9.9% for the median peer and +3.1% for the Italy market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 6.8% over the last twelve months (peer median +11.9%); the operating margin is 6.5% (peer median 7.7%).
Valuation It trades at 14.7× forward earnings against a peer median of 17.6× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +22%, so the hurdle is -19 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 20.4 points above its cost of capital (10.4% WACC).
Next results Next results expected around 10 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €7.37B | €6.96B | €5.86B | €4.23B | €3.42B |
| Revenue growth | — | +19% | +39% | +24% | — |
| Gross profit | €580M | €898M | €701M | €916M | €624M |
| EBITDA | €555M | €437M | €404M | €297M | €218M |
| Net income | €276M | €260M | €199M | €125M | €89.9M |
| Free cash flow | €322M | €218M | €275M | €359M | €271M |
| Capital expenditure | €68.0M | €64.6M | €40.2M | €34.5M | €24.4M |
| Total debt | €1.98B | €1.24B | €987M | €837M | €898M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| MAIRE MAIRE.MI | $4.81B | -12% | +7% | 7% | 14.7× | 2.9% |
| Technip Energies TE.PA | $6.83B | -8% | +2% | 4% | 18.9× | -6.5% |
| Saipem SPM.MI | $9.38B | -9% | +2% | 4% | 27.1× | 6.9% |
| Fluor FLR | $6.22B | +7% | -5% | -2% | 14.2× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MAIRE.MI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.1% | -1.5% | 7th highest of 21 |
| 6-month return | -11.8% | -9.9% | 9th lowest of 21 |
| Distance from 52-week high | -22.2% | -28.6% | 8th highest of 21 |
| Revenue growth (TTM) | +6.8% | +11.9% | 8th lowest of 20 |
| Operating margin | 6.5% | 7.7% | 9th lowest of 21 |
| Forward P/E | 14.7× | 17.6× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 2.9% | 5.3% | 7th least demanding of 15 |
| Growth delivered (Del g) | +22.1% | +7.2% | 2nd highest of 14 |
| Hurdle (Req g minus delivered) | -19.1 pp | -3.6 pp | 2nd least demanding of 14 |
| ROIC minus cost of capital | +20.4 pp | +3.2 pp | highest of 18 |
| EV / EBITDA | 8.4× | 11.7× | 5th cheapest of 15 |
| Net debt / EBITDA | 0.5× | 0.8× | 9th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| MAIRE MAIRE.MI | Italy | $4.81B | -12% | +7% | 7% | 14.7× | 2.9% | +22.1% |
| Budimex BDX.WA | Poland | $4.82B | +10% | +12% | 9% | 26.5× | 15.7% | +4.1% |
| VSE VSEC | United States | $4.85B | -10% | +23% | 12% | 22.1× | n/a | n/a |
| Tutor Perini TPC | United States | $4.73B | +8% | +25% | 4% | 18.8× | 9.6% | +0.8% |
| United Integrated Services 2404.TW | Taiwan | $5.11B | -9% | +72% | 18% | 9.7× | -11.4% | +13.0% |
| CTF Services 0659.HK | Hong Kong | $5.13B | +2% | +12% | 11% | 13.8× | 1.7% | -0.8% |
| SOLV Energy MWH | United States | $5.19B | -40% | n/a | 8% | 14.9× | 26.2% | n/a |
| INFRONEER 5076.T | Japan | $4.44B | +2% | +44% | 6% | 6.2× | 0.0% | +10.7% |
| Central New Energy 1735.HK | Hong Kong | $4.42B | -11% | +76% | 1% | 63.1× | n/a | n/a |
| Arcadis ARCAD.AS | Netherlands | $4.42B | +31% | -1% | 6% | 15.0× | 5.5% | +8.1% |
| Kandenko 1942.T | Japan | $5.26B | -41% | +4% | 12% | 11.2× | -0.9% | +5.9% |
| Construction Partners ROAD | United States | $4.38B | -45% | +42% | 9% | 26.5× | 12.5% | +29.1% |
| Sweco SWEC-A.ST | Sweden | $5.32B | +12% | +6% | 10% | 20.6× | 5.0% | +8.7% |
| Granite Construction GVA | United States | $5.32B | -15% | +25% | 7% | 16.7× | 10.1% | +7.2% |
| Balfour Beatty BBY.L | United Kingdom | $5.34B | +1% | +12% | 2% | 17.2× | 1.0% | +5.3% |
| Rail Vikas Nigam RVNL.NS | India | $4.27B | -37% | +5% | 4% | 46.0× | n/a | n/a |
| Offshore Oil Engineering 600583.SS | China | $4.22B | -6% | +7% | 8% | 12.1× | n/a | n/a |
| China Nuclear Engineering and Construction 601611.SS | China | $4.22B | -29% | -14% | 4% | 26.9× | n/a | n/a |
| Kinden 1944.T | Japan | $5.56B | -36% | +8% | 13% | 11.6× | -0.9% | +6.2% |
| MYR MYRG | United States | $4.09B | -40% | +23% | 6% | 18.1× | 14.0% | +10.2% |
| Guangdong Provincial Expressway Development 000429.SZ | China | $4.01B | +9% | +1% | 58% | 18.2× | n/a | n/a |