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Musti Group Oyj (MUSTI) Fair Value & Analysis

Consumer Cyclical · FI · Market cap €479M · ISIN FI4000410758

What is Musti Group Oyj really worth?

MG Musti Group Oyj MUSTI · HE
Price€14.90
Fair Value€14.08
Upside−5.5%
Quality47/100

Below-average quality, currently priced close to our fair value of €14.08.

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Strengths

Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +12.3 %/yr)
!Loss-making · -0.8% net margin
!Trails peers (3/12)
!Narrow moat 22/100
!Evidence only medium, so the estimate is less certain
!Weak on valuation: 26 out of 100
Evidence: Medium Range €9.01 – €19.15

Fair value as of: Aug 21, 2026

From 14 valuation models · updated 15 days ago

Share price +2.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (€9.01 to €19.15) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€35.92 €13.90 Fair Value €14.08 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range €13.90 – €35.92 · fair‑value band €9.01 – €19.15 · the €14.90 price screens above the €14.08 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

Musti Group Oyj (MUSTI) currently trades at €14.90, while our model-based Fair Value estimate is €14.08, implying the stock looks roughly 5.8% fairly valued today. The Quality Score stands at 47/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of €10.05 per share, and 5 of the 14 models we run sit above the €14.90 price. Bear case: the Multiples group reads lowest at €1.71, and 9 of the 14 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Musti Group Oyj generated revenue of €528M at a net margin of −0.8%. Revenue grew 15.6% year over year. It earns a return on equity of −2.4%. Net debt stands at €207M. Fundamentals as of Aug 21, 2026

Our scenario range runs from €9.01 (bear case) to €19.15 (bull case); at €14.90, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 29% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −11% fair-value upside, at −6%, MUSTI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF €8.89 €17.46 €31.04 77
Growth DCF €8.64 €15.99 €26.84 76
Owner Earnings €4.62 €10.05 €18.66 72
All 14 models by family
DCF Models
FCF DCF €8.89 €17.46 €31.04 77
Owner Earnings €4.62 €10.05 €18.66 72
5Y Revenue Exit €2.88 €5.33 €8.34 71
5Y EBITDA Exit €10.35 €21.11 €34.83 72
10Y Revenue Exit €4.97 €8.03 €12.23 66
10Y EBITDA Exit €9.62 €18.74 €32.97 65
Dividend Discount
Gordon GGM €0.0100 €0.0100 €0.0200 67
DDM Multi-Stage €0.0100 €0.0100 €0.0200 65
Multiples
EV/EBIT €0.5800 €1.71 €2.83 61
EV/EBITDA €12.41 €17.48 €22.55 67
EV/Revenue €0.4600 €1.43 50
Asset-Based
NCAV (Graham) €2.53 €3.39 €5.06 54
Growth DCF
Growth DCF €8.64 €15.99 €26.84 76
Rev-Margin DCF €2.88 €5.44 €8.86 70

Widest divergence: DCF Models (€10.05) versus Dividend Discount (€0.0100). Highest evidence: FCF DCF (77).

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Key figures & financial health

P/S ratio 0.91 TTM
EPS (TTM) €−0.1200
Net margin −0.7% FY2025
Return on equity −2.4% TTM
Return on assets (EBIT) 6.2% avg 5y
Operating margin −1.0% TTM
More key figures
Growth
Revenue (TTM) €528M TTM
Revenue growth (YoY) +15.6% 3y avg +9.2%
EPS growth (YoY) −83.8%
Balance sheet & cash flow
Free cash flow €35.7M FY2025
Net debt €207M FY2025 · ≈ 5.8 yrs of FCF

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 47 · Market factors (momentum, volatility) 40

Profitability 28
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 44
Earnings quality: real cash, not paper profit
Fin. Strength 35
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 23
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 84
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Musti Group Oyj, together with its subsidiaries, operates as a pet care specialist in Finland, Sweden, Norway, Portugal, and Baltics. The company offers pet products; and provides veterinary, welfare, and trimming services.

Full company description

Musti Group Oyj, together with its subsidiaries, operates as a pet care specialist in Finland, Sweden, Norway, Portugal, and Baltics. The company offers pet products; and provides veterinary, welfare, and trimming services. It sells its products under the Musti ja Mirri, Arken Zoo, Musti Norge, Pet City, Peten Koiratarvike, VetZoo, and ZU brand names through stores and online. The company was founded in 1988 and is headquartered in Helsinki, Finland. Musti Group Oyj operates as a subsidiary of Sonae, SGPS, S.A.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Musti Group Oyj reported revenue of €509M in FY2025 versus €341M in FY2021, a compound +10.5%/yr. Reported net income was −€3.7M in FY2025.

Growth Quality 58/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€509M
Latest YoY
+16.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.2%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.3%
Avg. revenue growth/yr (8Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+14.7%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +10.5%/yr
FY21 €341M
FY22 €391M
FY23 €426M
FY24 €438M
FY25 €509M
Net income
FY21 €20.9M
FY22 €22.3M
FY23 €26.4M
FY24 €3.6M
FY25 −€3.7M

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Cite: Fair Value Calculator (2026). "Musti Group Oyj Fair Value". https://www.fairvalue-calculator.com/stock/MUSTI

Peer Group

Personal Services · 39 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 47 · Below median
Fair Value upside −6% · Above median
Return on assets 1% · Below median
Net margin (TTM) −1% · Bottom 25%
Operating margin (TTM) −1% · Bottom 25%
Revenue growth 16% · Top 25%
Debt / equity 0.65× · Higher than 75% of peers

Valuation Multiples vs Personal Services median · lower = cheaper

P/B 3.29× · Pricier than median
P/S (TTM) 1.06× · Cheaper than median
P/FCF 15.6× · Pricier than median
EV/EBITDA 29.1× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE26 · sector 17
FUTURE78 · sector 21
PAST0 · sector 34
HEALTH68 · sector 91
DIVIDEND0 · sector 64

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Personal Services stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

Stock Price Fair Value vs Fair Value
Rollins, Inc ROL $35.94 $21.11 −41%
Service Corporation SCI $81.43 $38.27 −53%
Frontdoor, Inc FTDR $82.59 $73.81 −11%
H&R Block, Inc HRB $52.67 $78.30 +49%
Bright Horizons Family Solutions Inc BFAM $70.29 $62.41 −11%
Fu Shou Yuan International Group 1448 HK$2.64 HK$4.22 +60%
CEWE Stiftung & Co CWC €96.00 €157.28 +64%
Lungyen Life Service Corporation 5530 51.20 TWD 31.33 TWD −39%
Carriage Services, Inc CSV $34.26 $27.81 −19%
Propel Funeral Partners Limited PFP A$3.28 A$3.25 −1%

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Frequently asked questions

Is Musti Group Oyj (MUSTI) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of €14.08 versus a price of €14.90, about −6% upside (fairly valued).
What is the fair value of MUSTI?
Our model-based fair value for Musti Group Oyj is €14.08 (as of Aug 21, 2026), built from audited fundamentals. The current price: €14.90.
What is the quality score of MUSTI?
Musti Group Oyj has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Musti Group Oyj (MUSTI)?
Musti Group Oyj reported trailing-twelve-month revenue of about €528M (latest available figure, as of Aug 21, 2026).
What is the net profit margin of MUSTI?
The net profit margin of Musti Group Oyj is about −0.8%, meaning it is currently running at a net loss. Based on the latest reported figures.
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