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How does MARAS.HE make money? Does MARAS.HE have pricing power? What's the Earnings Whisper? Will MARAS.HE profit more as the business scales? What is MARAS.HE's management track record? Is MARAS.HE's current price justified?

Martela Oyj

€0.63 -$0.10 (-14.17%)

HEL · 15 Sep 2026 15:29 UTC

Previous Close

€0.57

Day Range

€0.57€0.63

Year Range

€0.41€1.25

Market Cap

2.92M

AVG Volume

13.87K

Trailing/Forward PE

-0.66/-

PEG ratio

0.01

Dividend Yield

Next Earnings Date

2026-11-11

Primary Exchange

NASDAQ Helsinki

Revenue (EUR) · TTM

MARAS.HE Revenue (EUR) · TTM by quarter
Period	Revenue (EUR) · TTM
26 Q2	75.41M
26 Q1	85.49M
25 Q4	93.67M
25 Q3	95.62M
25 Q2	95.65M
25 Q1	92.08M
24 Q4	86.67M
24 Q3	88.31M
24 Q2	92.14M
24 Q1	90.52M

Net Income (EUR) · TTM

MARAS.HE Net Income (EUR) · TTM by quarter
Period	Net Income (EUR) · TTM
26 Q2	-4.42M
26 Q1	-3.78M
25 Q4	-3.46M
25 Q3	-5.5M
25 Q2	-6.38M
25 Q1	-8.05M
24 Q4	-8.69M
24 Q3	-5.12M
24 Q2	-3.15M
24 Q1	-4.03M

Operating Income (EUR) · TTM

MARAS.HE Operating Income (EUR) · TTM by quarter
Period	Operating Income (EUR) · TTM
26 Q2	-2.07M
26 Q1	-1.47M
25 Q4	-1.1M
25 Q3	-2.92M
25 Q2	-4.12M
25 Q1	-5.88M
24 Q4	-6.53M
24 Q3	-3.25M
24 Q2	-1.47M
24 Q1	-2.79M

EBITDA (EUR) · TTM

MARAS.HE EBITDA (EUR) · TTM by quarter
Period	EBITDA (EUR) · TTM
26 Q2	4.95M
26 Q1	5.81M
25 Q4	6.31M
25 Q3	4.52M
25 Q2	3.33M
25 Q1	1.34M
24 Q4	583K
24 Q3	3.71M
24 Q2	5.33M
24 Q1	3.88M

Cash Flows (EUR) · TTM

MARAS.HE Cash Flows (EUR) · TTM by quarter
Period	Cash Flows (EUR) · TTM
26 Q2	3.08M
26 Q1	4.67M
25 Q4	3.65M
25 Q3	1.69M
25 Q2	1.77M
25 Q1	-395K
24 Q4	-276K
24 Q3	93K
24 Q2	2.74M
24 Q1	-643K

EPS (EUR) · TTM

MARAS.HE EPS (EUR) · TTM by quarter
Period	EPS (EUR) · TTM
26 Q2	-0.96
26 Q1	-0.82
25 Q4	-0.75
25 Q3	-1.18
25 Q2	-1.37
25 Q1	-1.73
24 Q4	-1.88
24 Q3	-1.11
24 Q2	-0.68
24 Q1	-0.89

Expenses (EUR) · TTM

MARAS.HE Expenses (EUR) · TTM by quarter
Period	Expenses (EUR) · TTM
26 Q2	5.28M
26 Q1	5.36M
25 Q4	10.91M
25 Q3	12.29M
25 Q2	16.96M
25 Q1	15.26M
24 Q4	15.93M
24 Q3	17.93M
24 Q2	18.73M
24 Q1	27.02M

Shares Outstanding · TTM

MARAS.HE Shares Outstanding · TTM by quarter
Period	Shares Outstanding · TTM
26 Q2	0
26 Q1	0
25 Q4	0
25 Q3	0
25 Q2	0
25 Q1	0
24 Q4	0
24 Q3	-275K
24 Q2	-275K
24 Q1	-275K

Dividends (EUR)

MARAS.HE Dividends (EUR) by quarter
Period	Dividends (EUR)
Mar 23	0.1
Mar 19	0.1
Mar 18	0.32
Mar 17	0.37
Mar 16	0.25
Mar 15	0.1
Mar 13	0.2
Mar 12	0.45
Mar 11	0.45
Mar 10	0.45

PE Ratio

MARAS.HE PE Ratio by quarter
Period	PE Ratio
Sep 23	17.78
Sep 23	18.49
Sep 23	18.97
Sep 23	18.73
Aug 23	19.8
Aug 23	19.68
Aug 23	20.27
Aug 23	23.83
Jul 23	24.3
Jul 23	24.42
Jul 23	23.83
Jul 23	23.83
Jun 23	24.19
Jun 23	3.59
Jun 23	3.68
Jun 23	3.63
Jun 23	3.7
May 23	3.68
May 23	3.78
May 23	3.73
May 23	3.73
Apr 23	4.05
Apr 23	4.01
Apr 23	3.98
Apr 23	4.08
Mar 23	4.16
Mar 23	3.47
Mar 23	3.43
Mar 23	3.53
Mar 23	3.65
Feb 23	3.58
Feb 23	3.7
Feb 23	3.68
Feb 23	3.68
Jan 23	3.71
Jan 23	3.7
Jan 23	3.85
Jan 23	4.01
Dec 22	3.64
Dec 22	6.02
Dec 22	5.8
Dec 22	5.92
Dec 22	5.92
Nov 22	5.95
Nov 22	5.8
Nov 22	6.19
Nov 22	6.7
Oct 22	7.26
Oct 22	7.29
Oct 22	6.92
Oct 22	6.92
Sep 22	6.65
Mar 18	60.35
Mar 18	62.57
Mar 18	64.6
Mar 18	66.62
Mar 18	64.8
Feb 18	65.61
Feb 18	68.24
Feb 18	64.6
Feb 18	68.85
Jan 18	70.88
Jan 18	74.52
Jan 18	83.03
Jan 18	82.62
Dec 17	75.63
Dec 17	18.39
Dec 17	18.14
Dec 17	18.17
Dec 17	18.7
Nov 17	18.85
Nov 17	19
Nov 17	19.53
Nov 17	20.62
Oct 17	18.82
Oct 17	22.74
Oct 17	22.79
Oct 17	23.09
Sep 17	22.94
Sep 17	12.01
Sep 17	11.88
Sep 17	12.05
Sep 17	11.9
Aug 17	11.94
Aug 17	12.43
Aug 17	13.05
Aug 17	14.78
Jul 17	15.18
Jul 17	15.13
Jul 17	15.25
Jul 17	15.45
Jun 17	15.45
Jun 17	14.9
Jun 17	14.24
Jun 17	16.15
Jun 17	15.31
May 17	15.55
May 17	15.56
May 17	15.97
May 17	15.96

Free Cash Flow Yield

MARAS.HE Free Cash Flow Yield by quarter
Period	Free Cash Flow Yield
Sep 26	177.24%
Sep 26	176.62%
Sep 26	223.72%
Aug 26	216.5%
Aug 26	215.11%
Aug 26	211.5%
Aug 26	185.74%
Jul 26	212.39%
Jul 26	214.65%
Jul 26	195.1%
Jul 26	195.1%
Jul 26	195.1%
Jun 26	164.3%
Jun 26	156.75%
Jun 26	171.18%
Jun 26	170.46%
May 26	162.35%
May 26	170.11%
May 26	192.07%
May 26	174.83%
Apr 26	169.05%
Apr 26	159.81%
Apr 26	138.68%
Apr 26	168.71%
Apr 26	151.52%
Mar 26	63.38%
Mar 26	62.06%
Mar 26	56.03%
Mar 26	54.99%
Feb 26	49.51%
Feb 26	48.05%
Feb 26	49.1%
Feb 26	48.83%
Jan 26	47.41%
Jan 26	49.65%
Jan 26	48.57%
Jan 26	49.79%
Jan 26	48.7%
Dec 25	53.11%
Dec 25	51.57%
Dec 25	50.25%
Dec 25	43.94%
Nov 25	43.16%
Nov 25	43.64%
Nov 25	40.83%
Nov 25	38.42%
Oct 25	38.42%
Oct 25	36.63%
Oct 25	34.38%
Oct 25	36.63%
Oct 25	41.87%
Sep 25	-9.07%
Sep 25	-8.95%
Sep 25	-9.09%
Sep 25	-8.79%
Aug 25	-9.25%
Aug 25	-8.97%
Aug 25	-9.23%
Aug 25	-11.08%
Aug 25	-12.06%
Jul 25	-11.35%
Jul 25	-11.6%
Jul 25	-11.5%
Jul 25	-10.97%
Jun 25	-7.63%
Jun 25	-7.71%
Jun 25	-7.51%
Jun 25	-7.2%
May 25	-7.88%
May 25	-7.94%
May 25	-7.65%
May 25	-7.48%
May 25	-7.67%
Apr 25	-7.77%
Apr 25	-7.56%
Apr 25	-7.69%
Apr 25	-7.12%
Mar 25	2.4%
Mar 25	2.88%
Mar 25	2.63%
Mar 25	2.59%
Feb 25	2.6%
Feb 25	2.52%
Feb 25	2.57%
Feb 25	2.45%
Jan 25	2.57%
Jan 25	2.58%
Jan 25	2.24%
Jan 25	2.21%
Jan 25	2.16%
Dec 24	67.91%
Dec 24	71.68%
Dec 24	68.06%
Dec 24	61.7%
Nov 24	61.19%
Nov 24	63%
Nov 24	62.61%
Nov 24	60.44%
Nov 24	52.52%
Oct 24	50.73%

Price to Sales

MARAS.HE Price to Sales by quarter
Period	Price to Sales
Sep 26	0.03
Sep 26	0.03
Sep 26	0.02
Aug 26	0.03
Aug 26	0.03
Aug 26	0.03
Aug 26	0.03
Jul 26	0.03
Jul 26	0.03
Jul 26	0.03
Jul 26	0.03
Jul 26	0.03
Jun 26	0.02
Jun 26	0.02
Jun 26	0.02
Jun 26	0.02
May 26	0.02
May 26	0.02
May 26	0.02
May 26	0.02
Apr 26	0.02
Apr 26	0.02
Apr 26	0.03
Apr 26	0.02
Apr 26	0.03
Mar 26	0.03
Mar 26	0.03
Mar 26	0.03
Mar 26	0.03
Feb 26	0.04
Feb 26	0.04
Feb 26	0.04
Feb 26	0.04
Jan 26	0.04
Jan 26	0.04
Jan 26	0.04
Jan 26	0.04
Jan 26	0.04
Dec 25	0.03
Dec 25	0.04
Dec 25	0.04
Dec 25	0.04
Nov 25	0.04
Nov 25	0.04
Nov 25	0.05
Nov 25	0.05
Oct 25	0.05
Oct 25	0.05
Oct 25	0.05
Oct 25	0.05
Oct 25	0.04
Sep 25	0.05
Sep 25	0.05
Sep 25	0.05
Sep 25	0.05
Aug 25	0.05
Aug 25	0.05
Aug 25	0.05
Aug 25	0.04
Aug 25	0.04
Jul 25	0.04
Jul 25	0.04
Jul 25	0.04
Jul 25	0.04
Jun 25	0.04
Jun 25	0.04
Jun 25	0.04
Jun 25	0.04
May 25	0.04
May 25	0.04
May 25	0.04
May 25	0.04
May 25	0.04
Apr 25	0.04
Apr 25	0.04
Apr 25	0.04
Apr 25	0.04
Mar 25	0.04
Mar 25	0.04
Mar 25	0.04
Mar 25	0.04
Feb 25	0.04
Feb 25	0.04
Feb 25	0.04
Feb 25	0.04
Jan 25	0.04
Jan 25	0.04
Jan 25	0.05
Jan 25	0.05
Jan 25	0.05
Dec 24	0.04
Dec 24	0.04
Dec 24	0.04
Dec 24	0.05
Nov 24	0.05
Nov 24	0.05
Nov 24	0.05
Nov 24	0.05
Nov 24	0.06
Oct 24	0.06

EV/EBITDA

MARAS.HE EV/EBITDA by quarter
Period	EV/EBITDA
Sep 26	3.47
Sep 26	3.47
Sep 26	3.38
Aug 26	3.39
Aug 26	3.39
Aug 26	3.4
Aug 26	3.45
Jul 26	3.4
Jul 26	3.39
Jul 26	3.43
Jul 26	3.43
Jul 26	3.43
Jun 26	3.23
Jun 26	3.25
Jun 26	3.22
Jun 26	3.22
May 26	3.23
May 26	3.22
May 26	3.18
May 26	3.21
Apr 26	3.22
Apr 26	3.24
Apr 26	3.29
Apr 26	3.22
Apr 26	3.26
Mar 26	4.79
Mar 26	4.8
Mar 26	4.87
Mar 26	4.88
Feb 26	4.95
Feb 26	4.98
Feb 26	4.96
Feb 26	4.97
Jan 26	4.99
Jan 26	4.95
Jan 26	4.97
Jan 26	4.95
Jan 26	4.97
Dec 25	6.6
Dec 25	6.63
Dec 25	6.65
Dec 25	6.81
Nov 25	6.83
Nov 25	6.81
Nov 25	6.9
Nov 25	6.98
Oct 25	6.98
Oct 25	7.05
Oct 25	7.14
Oct 25	7.05
Oct 25	6.86
Sep 25	17.83
Sep 25	17.87
Sep 25	17.82
Sep 25	17.93
Aug 25	17.76
Aug 25	17.86
Aug 25	17.77
Aug 25	17.23
Aug 25	17.02
Jul 25	17.17
Jul 25	17.12
Jul 25	17.14
Jul 25	17.26
Jun 25	35
Jun 25	34.94
Jun 25	35.1
Jun 25	35.37
May 25	34.81
May 25	34.76
May 25	34.99
May 25	35.13
May 25	34.97
Apr 25	34.89
Apr 25	35.06
Apr 25	34.95
Apr 25	35.45
Mar 25	5.55
Mar 25	5.38
Mar 25	5.46
Mar 25	5.47
Feb 25	5.47
Feb 25	5.5
Feb 25	5.48
Feb 25	5.53
Jan 25	5.48
Jan 25	5.48
Jan 25	5.63
Jan 25	5.64
Jan 25	5.67
Dec 24	3.8
Dec 24	3.76
Dec 24	3.8
Dec 24	3.88
Nov 24	3.89
Nov 24	3.86
Nov 24	3.87
Nov 24	3.9
Nov 24	4.02
Oct 24	4.06

Price/Operating Cashflow

MARAS.HE Price/Operating Cashflow by quarter
Period	Price/Operating Cashflow
Sep 26	0.51
Sep 26	0.51
Sep 26	0.4
Aug 26	0.42
Aug 26	0.42
Aug 26	0.42
Aug 26	0.48
Jul 26	0.42
Jul 26	0.42
Jul 26	0.46
Jul 26	0.46
Jul 26	0.46
Jun 26	0.54
Jun 26	0.57
Jun 26	0.52
Jun 26	0.52
May 26	0.55
May 26	0.52
May 26	0.46
May 26	0.51
Apr 26	0.52
Apr 26	0.55
Apr 26	0.64
Apr 26	0.53
Apr 26	0.58
Mar 26	1.36
Mar 26	1.39
Mar 26	1.54
Mar 26	1.56
Feb 26	1.74
Feb 26	1.79
Feb 26	1.75
Feb 26	1.76
Jan 26	1.81
Jan 26	1.73
Jan 26	1.77
Jan 26	1.73
Jan 26	1.77
Dec 25	1.58
Dec 25	1.62
Dec 25	1.67
Dec 25	1.91
Nov 25	1.94
Nov 25	1.92
Nov 25	2.05
Nov 25	2.18
Oct 25	2.18
Oct 25	2.29
Oct 25	2.44
Oct 25	2.29
Oct 25	2
Jun 25	32.58
Jun 25	32.25
Jun 25	33.09
Jun 25	34.52
May 25	31.57
May 25	31.32
May 25	32.5
May 25	33.26
May 25	32.41
Apr 25	32
Apr 25	32.89
Apr 25	32.33
Apr 25	34.94
Mar 25	3.14
Mar 25	2.62
Mar 25	2.86
Mar 25	2.9
Feb 25	2.9
Feb 25	2.99
Feb 25	2.93
Feb 25	3.07
Jan 25	2.93
Jan 25	2.92
Jan 25	3.37
Jan 25	3.41
Jan 25	3.49
Dec 24	0.98
Dec 24	0.93
Dec 24	0.97
Dec 24	1.08
Nov 24	1.08
Nov 24	1.05
Nov 24	1.06
Nov 24	1.1
Nov 24	1.26
Oct 24	1.31
Oct 24	1.36
Oct 24	1.34
Oct 24	1.18
Sep 24	4.04
Sep 24	3.84
Sep 24	3.95
Sep 24	3.81
Aug 24	3.82
Aug 24	3.88
Aug 24	4.04
Aug 24	4.16
Aug 24	4.36
Jul 24	4.52

Price to Book

MARAS.HE Price to Book by quarter
Period	Price to Book
Jun 25	3.12
Jun 25	3.09
Jun 25	3.17
Jun 25	3.31
May 25	3.03
May 25	3
May 25	3.12
May 25	3.19
May 25	3.11
Apr 25	3.07
Apr 25	3.15
Apr 25	3.1
Apr 25	3.35
Mar 25	1.07
Mar 25	0.89
Mar 25	0.97
Mar 25	0.99
Feb 25	0.98
Feb 25	1.02
Feb 25	1
Feb 25	1.04
Jan 25	1
Jan 25	0.99
Jan 25	1.14
Jan 25	1.16
Jan 25	1.19
Dec 24	0.82
Dec 24	0.78
Dec 24	0.82
Dec 24	0.9
Nov 24	0.91
Nov 24	0.88
Nov 24	0.89
Nov 24	0.92
Nov 24	1.06
Oct 24	1.1
Oct 24	1.14
Oct 24	1.12
Oct 24	0.99
Sep 24	0.66
Sep 24	0.62
Sep 24	0.64
Sep 24	0.62
Aug 24	0.62
Aug 24	0.63
Aug 24	0.66
Aug 24	0.67
Aug 24	0.71
Jul 24	0.73
Jul 24	0.73
Jul 24	0.73
Jul 24	0.73
Jun 24	0.53
Jun 24	0.52
Jun 24	0.54
Jun 24	0.55
May 24	0.55
May 24	0.57
May 24	0.57
May 24	0.65
May 24	0.65
Apr 24	0.6
Apr 24	0.6
Apr 24	0.62
Apr 24	0.64
Mar 24	0.68
Mar 24	0.68
Mar 24	0.68
Mar 24	0.69
Mar 24	0.68
Feb 24	0.75
Feb 24	0.8
Feb 24	0.68
Feb 24	0.71
Jan 24	0.72
Jan 24	0.68
Jan 24	0.7
Jan 24	0.77
Dec 23	0.67
Dec 23	0.71
Dec 23	0.72
Dec 23	0.73
Dec 23	0.75
Nov 23	0.76
Nov 23	0.79
Nov 23	0.77
Nov 23	0.78
Oct 23	0.71
Oct 23	0.73
Oct 23	0.77
Oct 23	0.8
Sep 23	0.84
Sep 23	0.57
Sep 23	0.6
Sep 23	0.61
Sep 23	0.6
Aug 23	0.64
Aug 23	0.63
Aug 23	0.65
Aug 23	0.77

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AI Analysis

Martela Oyj

Video analysis: MARAS.HE

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