Added to YB: 2026-07-27
Pitch date: 2026-07-23
MOUR.BR [bullish]
Moury Construct SA
Author Info
Jaime Bermejo shares investing thoughts and ideas in his newsletter. Sign up for his newsletter.
Company Info
Moury Construct SA, together with its subsidiaries, constructs and renovates residential and non-residential buildings in Belgium.
Market Cap
EUR 297.9M
Pitch Price
N/A
Price Target
N/A
Dividend
2.88%
EV/EBITDA
3.97
P/E
8.64
EV/Sales
0.63
Sector
Construction and Engineering
Category
value
15% IRR while nothing happens - Moury Construct SA
MOUR.BR: Belgian family-controlled construction co, ~4x ex-cash P/E (€380 net cash/share vs €370 for biz earning €87/share). FY25 rev +34% to €249.6M, net profit +41%, 15% op margin 4yrs running, net cash €152.5M. CEO now owns 50%+, boosting divs (special €7.50). 18mo backlog. Risks: margin mean-reversion, illiquidity (11 shares/session), no rerating, private mix shift weakening WC. 15-20% IRR from divs+compounding, no rerating needed.
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