Moury Construct SA (MOUR.BR) | Investment Case

1. Company Snapshot

1.a. Company Description

Moury Construct SA constructs and renovates residential and non-residential buildings for private and public markets in Belgium.The company undertakes public and private buildings, commercial areas, halls of structures, renovation and restoration, and industries and services projects.It is also involved in the general joinery, and thermal and acoustic insulations; metal and aluminum joinery; prefabrication of concrete elements; and promotion and real estate arrangements.

The company was founded in 1920 and is based in Liège, Belgium.

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1.b. Last Insights on MOUR

Have nothing to say about that one ...

1.c. Company Highlights

Last Price	590
Change Percentage	-0.34%
Open	590
Previous Close	592
Market Cap ( Millions)	233
Volume	64
Year High	634
Year Low	436
M A 50	598.84
M A 200	561.1

FCF Yield	6.88%
Dividend Yield	2.12%
ROE	19.79%
Debt / Equity	1.56%
Net Debt / EBIDTA	-268.70%
Price To Book	1.76
Price Earnings Ratio	9.15
Price To FCF	14.54
Price To sales	1.09
EV / EBITDA	3.88

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.61%)

6. Segments

S.A. Les Enterprises G Moury

Expected Growth: 4.5%

The construction industry is expected to grow driven by increasing infrastructure development projects, government investments in public-private partnerships, and a rising demand for sustainable buildings. Moury Construct SA's specialization in building and infrastructure development projects positions it for growth in this expanding market.

S.A. Bemat

Expected Growth: 4.5%

Growing demand for efficient construction methods, increasing infrastructure development, and rising adoption of modular construction drive the formwork and scaffolding systems market. S.A. Bemat's innovative products and strong industry partnerships position the company for growth.

SA D-FI

Expected Growth: 8.5%

Growing demand for waterproofing membranes in infrastructure projects, increasing focus on sustainable construction, and rising need for durable and flexible solutions drive the growth of SA D-FI in the waterproofing market.

S.C. Mosabois

Expected Growth: 5.5%

Romania's growing economy, increasing infrastructure investments, and government initiatives to develop transportation networks drive the demand for construction services, favoring S.C. Mosabois' growth prospects.

S.A. Mourylux

Expected Growth: 4.5%

Growing demand for energy-efficient and stylish automotive lighting, increasing adoption of LED technology, and rising sales of luxury vehicles drive the growth of the automotive lighting market.

S.A. Moury Construct (Umbrella Holding Company)

Expected Growth: 4.5%

The construction industry's growth is driven by increasing infrastructure development, urbanization, and government investments in emerging markets. Moury Construct SA's diversified portfolio and strategic guidance position the company for steady growth.

7. Detailed Products

Building Construction

Moury Construct SA provides comprehensive building construction services, including design, planning, and execution of residential and commercial projects.

Infrastructure Development

The company offers infrastructure development services, including road construction, bridge building, and utility installation.

Renovation and Refurbishment

Moury Construct SA provides renovation and refurbishment services for existing buildings, including interior design, renovation, and restoration.

Project Management

The company offers project management services, including planning, coordination, and supervision of construction projects.

Design and Engineering

Moury Construct SA provides design and engineering services, including architectural design, structural engineering, and MEP engineering.

8. Moury Construct SA's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Moury Construct SA is moderate due to the presence of alternative materials and technologies in the construction industry.

Bargaining Power Of Customers

The bargaining power of customers for Moury Construct SA is low due to the company's strong brand reputation and customer loyalty.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Moury Construct SA is moderate due to the presence of multiple suppliers in the market.

Threat Of New Entrants

The threat of new entrants for Moury Construct SA is high due to the relatively low barriers to entry in the construction industry.

Intensity Of Rivalry

The intensity of rivalry for Moury Construct SA is high due to the presence of several established competitors in the market.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	2.52%
Debt Cost	4.64%
Equity Weight	97.48%
Equity Cost	5.68%
WACC	5.65%
Leverage	2.59%

11. Quality Control: Moury Construct SA passed 9 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Veidekke

A-Score: 7.5/10

Value: 5.7

Growth: 5.1

Quality: 7.0

Yield: 9.4

Momentum: 8.0

Volatility: 9.7

1-Year Total Return ->

Bilfinger

A-Score: 6.4/10

Value: 5.3

Growth: 7.1

Quality: 5.2

Yield: 6.9

Momentum: 10.0

Volatility: 4.0

1-Year Total Return ->

Heijmans

A-Score: 6.4/10

Value: 5.9

Growth: 6.6

Quality: 6.2

Yield: 6.9

Momentum: 10.0

Volatility: 2.7

1-Year Total Return ->

Moury Construct

A-Score: 6.2/10

Value: 7.0

Growth: 7.4

Quality: 7.1

Yield: 4.4

Momentum: 5.5

Volatility: 5.7

1-Year Total Return ->

BAM

A-Score: 5.8/10

Value: 6.7

Growth: 4.8

Quality: 4.7

Yield: 5.6

Momentum: 9.5

Volatility: 3.3

1-Year Total Return ->

Renew

A-Score: 4.9/10

Value: 5.3

Growth: 5.9

Quality: 6.4

Yield: 4.4

Momentum: 2.0

Volatility: 5.7

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-6.79%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

5.65%

Moury Construct SA - BE0003602134

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on MOUR

Have nothing to say about that one ...

1.c. Company Highlights

Higher Growth

Strong Momentum

Better Quality

Fairly Valued

Average Growth

Stable Momentum

Average Yield

Weak Momentum

Medium Volatility

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.61%)

6. Segments

S.A. Les Enterprises G Moury

Expected Growth: 4.5%

S.A. Bemat

Expected Growth: 4.5%

SA D-FI

Expected Growth: 8.5%

S.C. Mosabois

Expected Growth: 5.5%

S.A. Mourylux

Expected Growth: 4.5%

S.A. Moury Construct (Umbrella Holding Company)

Expected Growth: 4.5%

7. Detailed Products

Building Construction

Infrastructure Development

Renovation and Refurbishment

Project Management

Design and Engineering

8. Moury Construct SA's Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Moury Construct SA passed 9 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

590.0$

Current Price

590$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA