Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Miquel y Costas & Miquel, S.A. is a Spain-based company specializing in the manufacture and distribution of fine and specialty lightweight papers, with a primary focus on high-tech cigarette papers. Its product portfolio includes rolling papers, printing papers, specialty papers, and textile pulps, produced using state-of-the-art, in-house developed technology at facilities in Spain and Argentina. The company traces its origins to 1725, when the Miquel family began handmade paper production, formalizing as a limited company in 1879 and incorporating in 1929. As part of the Miquel y Costas Group, it comprises 15 companies handling production, services, and distribution across sectors like tobacco, printing, and cellulose derivatives. Geographically, it generates maximum revenue from the European Union, with significant exports—over 80% of production—to 130 countries, establishing it as one of Spain's top manufacturers and a global leader in specialty lightweight papers. The group's commitment to innovation, sustainability, and quality supports its presence in demanding international markets.
€13.95
+€0.00 (+0.00%)
EOD Jun 23, 2026 · Twelve Data
17.36% operating margin is respectable but not wide. ROIC at 9.49%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue growth slowed to 1.5%, essentially flat. Margins also contracted 2.1pp. This is a business that needs a catalyst.
Free cash flow declined 72% versus the prior year, cash generation momentum has weakened.
11.7x earnings, 44.0x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
€314M
▲ +1.5% YoY
Net Income (TTM)
€45M
▼ -7.4% YoY
Op. Margin
17.36%
▼ -2.1pp YoY
ROIC
9.49%
▼ -1.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€12M
▼ -72.2% YoY
Op. Cash Flow (TTM)
€55M
▲ +21.0% YoY
Net Debt
€15M
Cash & Equiv.
€32M
3Y CAGR: -2.4%
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