Miquel y Costas & Miquel is a Barcelona-listed maker of premium paper and tissue, selling branded and private-label products that include cigarette and specialty papers alongside its consumer hygiene lines. The moat is less about scale than about a 62.2% gross margin, which points to pricing power in niche grades rather than commodity pulp. Revenue is roughly flat (down 0.2%), so growth has to come from mix and margin, not volume, and there is no named catalyst in the data we have. At an 11.1x trailing P/E, a 9.7% ROE and a 14.3% operating margin, the stock screens as a cash-generative small cap that the market is not paying much for. It is a €436M market cap with no index membership and no forward estimates, so the first question for a deeper look is whether the margin is durable or cyclical.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 11:04 CEST | Fair value | €11.83 | first publication | €9.74 |
| 23 Oct 2026, 11:04 CEST | Rating | Undervalued | first publication | €9.74 |
| 23 Oct 2026, 01:53 CEST | ACCE price target | €10.10 | first publication | €9.74 |
Answered from Miquel y Costas & Miquel, S.A. fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| MCM.MC Miquel y Costas & Miquel, S.A. | €9.82 | €12 | 17% below | 11.2x | 9.7% | 74 | 46 |
| CPHN.SW CPH Group AG | CHF 56.80 | CHF 42 | 36% above | 16.7x | 10.1% | 67 | 44 |
| ENC.MC ENCE Energía y Celulosa, S.A. | €2.20 | - | - | - | -12.8% | 39 | 34 |
| CLW Clearwater Paper Corporation Common Stock | $19.04 | - | - | - | -10.4% | 27 | 39 |
| ALTR.LS Altri, SGPS, S.A. | €4.26 | €3 | 38% above | 71.0x | 2.8% | 34 | 44 |
| 2002.HK China Sunshine Paper Holdings Company Limited | HK$1.71 | HK$4 | 54% below | 12.4x | 2.9% | 25 | 58 |
| IBG.MC Iberpapel Gestión, S.A. | €16.60 | €27 | 39% below | 830.0x | 0.0% | 46 | 46 |
Where MCM.MC ranks against its sector peers on each metric.