| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 133.11 | 441 |
| Intrinsic value (DCF) | 9.73 | -60 |
| Graham-Dodd Method | 17.73 | -28 |
| Graham Formula | 0.04 | -100 |
Moulinvest SA is a France-based company specializing in wood products, including wood panels, pellets, lumber, and prefabricated solid wood walls. Founded in 1916 and headquartered in Dunières, France, the company operates under brands like MassifBois (structural timber solutions) and Decovert (outdoor landscaping and equestrian products). Moulinvest also generates electricity through biomass cogeneration, adding a sustainable energy component to its operations. As part of the Paper, Lumber & Forest Products industry within the Basic Materials sector, Moulinvest serves construction, landscaping, and energy markets. Despite recent financial challenges, the company maintains a diversified product portfolio and a long-standing presence in the French wood industry. With a market capitalization of approximately €46.3 million, Moulinvest remains a niche player in sustainable wood manufacturing and biomass energy.
Moulinvest SA presents a mixed investment case. The company operates in a stable but competitive industry, with exposure to both traditional wood products and renewable energy through biomass cogeneration. However, its recent financial performance shows a net loss of €135,000 (FY 2024), raising concerns about profitability. Positive aspects include €16.1 million in operating cash flow and a dividend payout of €0.17 per share, indicating some cash generation capability. The high beta of 1.692 suggests significant volatility, likely tied to commodity price fluctuations in lumber and energy markets. Investors should weigh its niche market positioning against operational risks and debt levels (€40.3 million total debt). The biomass energy segment could offer growth potential as Europe transitions toward renewable energy sources.
Moulinvest SA competes in the fragmented European wood products market, differentiating itself through vertical integration—from raw material processing to prefabricated construction solutions. Its MassifBois brand provides structural timber products, competing with larger industrial players, while Decovert focuses on niche landscaping applications. The company’s biomass cogeneration adds a unique revenue stream, though this segment is capital-intensive and subject to regulatory shifts in renewable energy subsidies. Moulinvest’s regional focus in France limits its scale compared to multinational competitors but provides localized supply chain advantages. Challenges include pricing pressure from cheaper imported wood products and reliance on sustainable forestry practices, which can increase costs. The company’s smaller size may hinder R&D investments compared to larger peers, but its diversified product mix (construction, landscaping, energy) offers some resilience against market downturns in specific segments.