Want to see FR:ALMAR full AI Analyst Report?
Top Page
Mare Nostrum SA (FR)
(ALMAR)
Select Model
Select Model
Rating:52Neutral
Price Target:
€0.51
▲(68.33% Upside)
Action:Reiterated
Date:10/02/26
The score is held back primarily by weak financial performance (negative operating margins, volatile revenue, and high leverage despite some deleveraging) and bearish technical trends (price below key moving averages and negative MACD). These are partly offset by the very low P/E valuation, which suggests potential upside if earnings quality and operating profitability stabilize.
Positive Factors
Positive Operating Cash Flow
Sustained positive operating cash flow indicates that the staffing and HR outsourcing model has generated cash from operations across several years. This provides a foundation for liquidity and ongoing activity, although the company still needs to improve the consistency of cash conversion.
Negative Factors
Negative Core Operating Margins
Negative EBIT and EBITDA margins show that the core business is not currently covering its operating costs through reported revenue. This weakens earnings quality and limits the benefit of any revenue recovery unless pricing, staffing economics, or cost efficiency improve sustainably.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive Operating Cash Flow
Sustained positive operating cash flow indicates that the staffing and HR outsourcing model has generated cash from operations across several years. This provides a foundation for liquidity and ongoing activity, although the company still needs to improve the consistency of cash conversion.
Read all positive factors
Mare Nostrum SA (FR) (ALMAR) vs. iShares MSCI France ETF (EWQ)
Market Cap
€3.86M
Dividend YieldN/A
Average Volume (3M)4.47K
Price to Earnings (P/E)0.2
Beta (1Y)0.03
Revenue Growth-9.97%
EPS GrowthN/A
CountryFR
Employees207
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)3.06
Shares Outstanding7,574,968
10 Day Avg. Volume10,054
30 Day Avg. Volume4,471
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)3.05
Price to Sales (P/S)0.02
P/FCF Ratio0.48
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mare Nostrum SA (FR) Business Overview & Revenue Model
Company Description
Mare Nostrum SA provides human resources management services worldwide. It offers temporary work, recruitment, and training services, as well as wage portage and professional mobility services. Mare Nostrum SA was incorporated in 2004 and is headq...
How the Company Makes Money
Mare Nostrum SA primarily makes money by charging client companies for outsourced workforce and HR services. This typically includes (i) billing for personnel made available to clients (often structured as an hourly/daily rate or a service fee tha...
Mare Nostrum SA (FR) Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
36
Negative
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Jun 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 109.70M | 120.52M | 169.58M | 172.22M | 155.59M |
| Gross Profit | 1.00M | 44.46M | 35.49M | 66.74M | 36.69M |
| EBITDA | 15.30M | -7.35M | -6.24M | 893.00K | 2.39M |
| Net Income | 23.40M | -9.95M | -11.72M | -2.12M | -536.00K |
Balance Sheet | |||||
| Total Assets | 48.22M | 64.27M | 74.89M | 85.12M | 80.53M |
| Cash, Cash Equivalents and Short-Term Investments | 8.13M | 8.00M | 7.29M | 12.04M | 14.43M |
| Total Debt | 5.71M | 21.16M | 21.05M | 30.03M | 28.25M |
| Total Liabilities | 47.59M | 77.07M | 77.34M | 75.30M | 68.40M |
| Stockholders Equity | 769.00K | -13.40M | -3.48M | 8.10M | 10.48M |
Cash Flow | |||||
| Free Cash Flow | 4.94M | 6.35M | 5.04M | -1.78M | 191.00K |
| Operating Cash Flow | 5.25M | 6.52M | 5.88M | -14.00K | 1.98M |
| Investing Cash Flow | -3.97M | -6.52M | -1.98M | -2.83M | -2.43M |
| Financing Cash Flow | -118.00K | 422.00K | -1.10M | -4.53M | -289.00K |
Mare Nostrum SA (FR) Technical Analysis
Negative
0.30
Price Trends
0.57
Negative
0.58
Negative
0.57
Negative
Market Momentum
-0.02
Positive
43.42
Neutral
42.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALMAR, the sentiment is Negative. The current price of 0.3 is below the 20-day moving average (MA) of 0.55, below the 50-day MA of 0.57, and below the 200-day MA of 0.57, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 43.42 is Neutral, neither overbought nor oversold. The STOCH value of 42.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALMAR.
Mare Nostrum SA (FR) Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | €14.73M | 107.22 | ― | 1.96% | -5.75% | -78.66% | |
57 Neutral | €10.63M | -7.23 | ― | 0.96% | ― | ― | |
52 Neutral | €3.86M | 0.17 | ― | ― | -9.97% | ― | |
46 Neutral | €20.31M | -13.05 | ― | ― | 123.19% | 90.82% |
* Industrials Sector Average
FR:ALMAR
Mare Nostrum SA (FR)
0.52
0.04
8.33%
FR:MLAAT
Azorean-Aquatic Technologies SA
0.22
0.02
10.00%
FR:ALTUV
Bio-UV Group SA
1.04
-0.63
-37.72%
FR:ALGRO
Grolleau
3.76
1.32
54.10%
FR:ALUVI
UVGermi SA
2.36
-0.21
-8.17%
FR:ALWTR
Osmosun
1.10
0.30
37.50%
Mare Nostrum SA (FR) Corporate Events
Mare Nostrum Returns to Growth as New HR Model Shows Resilience
Jul 28, 2026
Mare Nostrum reported first-half 2026 revenue of €43.7 million on its new, streamlined perimeter, underscoring the resilience of its HR services model despite a weak French temporary work market. The group’s four core activities –...
Mare Nostrum Returns to Growth as Refocused HR Model Shows Resilience
Jul 28, 2026
Mare Nostrum reported first-half 2026 revenue of €43.7 million on its new, streamlined scope, highlighting the resilience of its refocused HR services model despite a weak temporary work market. The group’s second-quarter sales rose 15...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.