Added to YB: 2026-06-02
Pitch date: 2026-03-26
MF.PA [bullish]
Wendel
Author Info
No bio for this author
Company Info
Wendel is a private equity firm specializing in equity financing in middle markets and later stages through leveraged buy-out and transactions and acquisitions.
Market Cap
EUR 3.7B
Pitch Price
N/A
Price Target
175.00
Dividend
3.46%
EV/EBITDA
7.48
P/E
-20.53
EV/Sales
1.14
Sector
Financial Services
Category
value
Wendel - $MF.PA
MF.PA: French family holdco at 54.5% NAV discount (vs 35% 10yr avg), €74.65 vs €164 NAV, 6.8% yield. -€152M P&L masks €980M BV value to equity (IFRS 10). Hard assets (BV, signed Stahl/IHS exits at 20%+ premium, cash less debt) cover €2.9B vs €3.2B cap; WIM platform (>€200M FRE), CPI, ACAMS free. 9% buyback executing; Stahl gain flips earnings positive July 30 fixing screen penalty. Private credit panic (Monroe, 5% NAV) overdone. ~70% return / 20-25% IRR.
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