Turism, Hoteluri, Restaurante Marea Neagra S.A.

EFO

Turism, Hoteluri, Restaurante Marea Neagra S.A. provides tourist accommodation, public catering, and leisure services in Romania.It operates hotels, restaurants, bars, buffets, and spas. The company w...

Website | Transportation Services | Other

Automated Financial Analysis

🤵

Financial Advisor Insight

"Technicals confirm a positive long-term trend, supported by moving averages. Growth forecasts are robust, which could drive future appreciation."

Sentiment: Neutral Action: Hold

"Company demonstrates strong financial health with positive growth and stability indicators."

Declining Revenue (-8.7% CAGR).
High Profitability (Net Margin: 60.6%).
Bullish Trend (SMA50 > SMA200).
Bearish MACD Crossover detected.
Forecast: Continued Revenue Growth (~36.0% next year).

Technical Analysis

Trend Bullish (Long Term)
Last Cross
Golden Cross (4 years ago)
RSI (14) 54.7
SMA 50 0.54
SMA 200 0.50

Price Valuation

Current Price 0.55
Fair Value (PE 15) 0.45
Overvalued 18%
Graham Number 0.71
Upside 30%

Forecast

Rev Forecast (Next Yr) 22M
Growth Forecast 36.0%

📊 Market & Peer Context

Benchmark: BET
Volatility (Beta)
0.07
Less Volatile than Market
Correlation
0.02
Moves with Market
Relative Strength (1Y)
-42.45%
vs Benchmark
Index Returns (1Y)
69.4%
BET

Historical Performance

Metric 5Y 3Y 1Y YTD 6M 3M 1M 1W
EFO 359.9% 116.3% 21.7% -0.9% 2.8% -4.4% 0.0% 0.0%
BET - 132.5% 69.4% 18.5% 33.0% 6.9% 2.4% 1.8%
Alpha (Diff) - -16.2% -47.7% -19.5% -30.2% -11.3% -2.4% -1.8%

Financial Reports

Price Chart

Sector: Other

Based on Market Cap
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LION
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FP
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AQ
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2,062M
INFINITY
Infinity Capital Investments S.A.
1,981M
SFG
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1,539M
ARS
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1,462M
SOCP
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GREEN
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1,111M
ALR
Alro S.A.
1,071M
WINE
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789M
AROBS
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706M
COTE
Conpet S.A.
677M
CMVX
Comvex S.A.
662M
TTS
TTS (Transport Trade Services) S.A.
589M
IMP
Impact Developer & Contractor S.A.
567M
DN
Dn Agrar Group S.A.
463M
SMTL
Simtel Team S.A.
459M
BVB
Bursa de Valori Bucuresti SA
371M
OIL
Oil Terminal S.A.
342M
SIDG
S.C. ArcelorMittal Hunedoara S.A.
342M
IARV
IAR S.A.
319M
GSH
GRUP SERBAN HOLDING SA
312M
SCDM
S.C. Unirea Shopping Center S.A.
258M
RCHI
Societatea Comerciala Compania Hoteliera Intercontinental Romania S.A.
238M
FOSB
SC Foraj Sonde SA Craiova
237M
PPLI
Professional Imo Partners S.A.
232M

ETAPA 1 • MUST HAVE

4/8
Healthy Leverage (Debt/Equity)
0.06
Target: < 1.5
Gross Margin vs Industry
0.0% vs 0.0%
Target: > 0.0%
Operating Cash Flow vs Profit
0%
Target: > 1.0
Free Cash Flow vs Profit
64%
Target: > 0.8
ROIC (Return on Capital)
2.66%
Target: Positive
ROIC vs WACC
ROIC: 2.7% / WACC: 709,635.4%
Target: > WACC
ROE (Return on Equity)
4.6%
Target: > 10%
EBITDA Positive
10.81M
Target: > 0

ETAPA 2 • CRITERII

3/9
Interest Coverage
Target: > 3x • 0.0x
Miss
Net Margin vs Industry
Target: > 0.0% • 60.6%
Passed
ROA vs Industry
Target: > 3.6% • 2.4%
Miss
Current Ratio
Target: > 1.5 • 8.29
Passed
Assets Growth (5y)
Target: > 0% • -1.6% CAGR
Miss
FCF CAGR (5y)
Target: > 5% • 0.0%
Miss
EV/EBITDA vs Industry
Target: < Industry • 0.0 vs 0.0
Miss
Net Debt / EBITDA
Target: < 3 • 1.19
Passed
Revenue CAGR (5y)
Target: > 5% • -8.7%
Miss

SNAPSHOT COMPANIE

Capitalizare
0.18B RON
EBITDA
10.81M
P/E Ratio
18.21
PEG Ratio
0.00
Dividend Yield
0.00%
Beta
0.07
Valoare Intrinsecă (Graham)
0.71 RON
Discount
+29.9%

Balance Sheet

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Cash & Equivalents 9,566,976 1,097,263 8,407,881 382,174 10,468,441
Totalcash 9,566,976 1,097,263 8,407,881 382,174 10,468,441
Cash Growth -3.84% -86.95% 2,100.01% -96.35% -49.13%
Accounts Receivable 55,937 939,428 581,211 2,493,643 326,538
Other Receivables 1,005,051 374,983 344,075 4,964,877 3,131,456
Receivables 1,060,988 1,314,411 925,286 7,458,520 3,457,994
Inventory 20,764 236,619 16,773 2,166,600 728,650
Prepaid Expenses 80,962 91,789 64,543 97,808 57,501
Other Current Assets 31,161,737 31,175,620 145,761 381,256 97,264
Assetsc 41,891,427 33,915,702 9,560,244 10,486,358 14,809,850
Property, Plant & Equipment 167,985,016 195,283,536 234,283,293 403,846,436 394,527,198
Long-Term Investments - - - - -
Other Intangible Assets 78,981 338,866 726,710 895,584 380,970
Long-Term Accounts Receivable - - - - -
Other Long-Term Assets 263,119 14,704,343 390,950 2,733,332 752,438
Assets 210,218,543 244,242,447 244,961,197 417,961,710 410,470,456
Accounts Payable 337,643 148,558 515,466 3,283,659 178,525
Accrued Expenses - - - 495,847 228,257
Short-Term Debt - - - 853,643 2,563,056
Current Portion of Long-Term Debt - - - 1,099,944 -
Current Income Taxes Payable 608,986 455,409 1,109,905 5,229,081 -
Current Unearned Revenue 3,271,395 716,531 3 5,011,565 684,803
Other Current Liabilities 2,545,277 2,772,252 4,592,734 6,682,128 6,304,653
Total Current Liabilities 6,763,301 4,092,750 6,218,108 22,655,867 9,959,294
Long-Term Debt - 12,878,752 - 3,239,597 4,296,227
Long-Term Deferred Tax Liabilities 21,203,048 21,203,048 21,436,055 39,944,907 38,561,004
Other Long-Term Liabilities 1 1,063 26,469 2,073,809 1,908,736
Total Liabilities 27,966,350 38,175,613 27,680,632 67,914,180 54,725,261
Common Stock 19,679,451 32,556,000 32,556,000 57,600,849 57,600,849
Additional Paid-In Capital 1,895,814 1,895,814 1,895,855 1,895,855 1,895,855
Retained Earnings 97,352,340 78,382,575 -4,240,432 -46,034,476 5,270,925
Comprehensive Income & Other 90,924,588 114,757,529 187,073,471 336,589,631 290,981,895
Equity 182,252,193 206,066,834 217,280,565 350,047,530 355,745,195
Total Liabilities & Equity 210,218,543 244,242,447 244,961,197 417,961,710 410,470,456
Filing Date Shares Outstanding 196,794,514 276,794,514 576,008,487 576,008,487 576,008,487
Total Common Shares Outstanding 196,794,514 276,794,514 576,008,487 576,008,487 576,008,487
Book Value Per Share 0.93 0.74 0.38 0.61 0.62
Tangible Book Value 182,173,212 205,727,968 216,553,855 349,151,946 355,364,225
Tangible Book Value Per Share 0.93 0.74 0.38 0.61 0.62
Total Debt - 12,878,752 - 5,193,184 6,859,283
Net Cash (Debt) 9,566,976 -11,781,489 8,407,881 -4,811,010 3,609,158
Net Cash Growth 226.49% - - - -81.30%
Netcashpershare 0.05 -0.04 0.03 -0.01 0.01
Working Capital 35,128,126 29,822,952 3,342,136 -12,169,509 4,850,556
Treasury Stock -27,600,000 -21,525,084 -4,329 -4,329 -4,329
Land 56,432,683 61,521,202 94,226,488 156,189,341 137,612,790
Buildings 107,921,035 129,408,021 134,257,475 238,057,409 247,279,142
Machinery 22,167,534 23,680,680 24,397,478 33,059,683 31,067,454
Construction In Progress - 4,250 - - -
Trading Asset Securities - - - - -
Long-Term Deferred Tax Assets - - - - -

Cash Flow Statement

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Net Income 12,423,063 9,745,636 34,549,664 -6,463,143 50,720,577
Depreciation & Amortization 923,363 1,532,984 2,766,507 9,732,574 14,142,910
Change in Accounts Receivable - - - - -
Change in Inventory - - - - -
Change in Accounts Payable - - - - -
Change in Other Net Operating Assets - - - - -
Other Operating Activities -8,408,386 -5,017,065 -27,714,893 -3,622,669 -64,543,302
Ncfo 4,938,040 6,261,555 9,601,278 -353,238 320,185
Ocf Growth - -34.78% - - -
Capex - - - - -
Investment in Securities -606,823 -376,859 -4,894,283 -8,094,559 -14,056,952
Other Investing Activities -150 - - - 275,405
Ncfi 38,185,996 9,660,163 14,900,390 -8,091,636 -13,383,876
Short-Term Debt Issued - - - 853,643 1,461,097
Long-Term Debt Issued - 29,925,084 - - 6,000,000
Total Debt Issued 29,600,000 29,925,084 - 853,643 7,461,097
Short-Term Debt Repaid - - - - -
Long-Term Debt Repaid - -17,046,332 -5,383,807 -2,574,524 -728,985
Total Debt Repaid -36,618,648 -17,046,332 -5,383,807 -2,574,524 -728,985
Net Debt Issued (Repaid) -7,018,648 12,878,752 -5,383,807 -1,720,881 6,732,112
Repurchase of Common Stock -35,600,000 -14,400,000 - - -
Common Dividends Paid - - -11,683,523 -1,492 -3,778,203
Other Financing Activities -887,263 -21,711,087 232,080 -51,301 -
Financing Cash Flow -43,505,911 -23,232,335 -16,835,250 -1,773,674 2,953,909
Net Cash Flow -381,876 -7,310,617 7,666,418 -10,218,548 -10,109,782
Free Cash Flow 4,938,040 6,261,555 9,601,278 -353,238 320,185
Free Cash Flow Growth - -34.78% - - -
Fcf Margin 31.86% 38.95% 35.02% -0.78% 0.70%
Fcfps 0.03 0.02 0.03 0.00 0.00
Levered Free Cash Flow 5,849,369 -26,804,977 4,435,477 9,371,043 29,765,227
Unlevered Free Cash Flow 6,300,291 -26,459,172 4,672,831 9,683,873 29,901,429
Cash Interest Paid 718,629 552,624 359,315 471,209 189,687
Cash Income Tax Paid - 8,684,383 13,721,388 12,158,518 17,829,046
Change Working Capital - - - - -
Sale of Property, Plant & Equipment 38,792,969 10,037,022 19,794,673 2,923 397,671

Income Statement

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Revenue 15,499,365 16,077,937 27,418,728 45,383,547 45,484,834
Revenue Growth -23.55% -41.36% -39.58% -0.22% 96.89%
Operating Revenue 14,390,273 15,175,650 27,181,986 35,431,594 43,012,671
Other Revenue 1,109,092 902,287 236,742 9,951,953 2,472,163
Cost of Revenue 2,468,109 2,721,662 7,046,861 30,782,479 28,577,618
Gp 13,031,256 13,356,275 20,371,867 14,601,068 16,907,216
Selling, General & Admin 2,419,352 2,382,312 4,005,520 13,218,115 6,873,887
Other Operating Expenses 1,612,781 162,135 1,697,960 3,797,528 8,309,469
Operating Expenses 4,955,496 4,077,431 8,469,987 26,748,217 29,326,266
Operating Income 8,075,760 9,278,844 11,901,880 -12,147,149 -12,419,050
Interest Expense -721,476 -553,287 -379,767 -500,527 -217,922
Interest & Investment Income 374,025 474,019 657,510 258,359 3,012,380
Other Non Operating Income (Expenses) 1 - -20 200,001 -
EBT Excluding Unusual Items 7,728,310 9,199,576 12,179,603 -12,189,316 -9,624,592
Gain (Loss) on Sale of Assets 11,338,568 4,282,047 12,625,363 -83,871 182,099
Gain (Loss) on Sale of Investments 5,988,866 5,998,866 16,349,307 23,729,473 70,487,851
Asset Writedown -6,926,714 -6,926,714 -4,475,463 -16,417,745 -
Pretax Income 18,129,030 12,553,775 36,678,810 -4,961,459 61,045,358
Income Tax Expense 5,705,967 2,808,139 2,129,146 1,501,684 10,324,781
Net Income 12,423,063 9,745,636 34,549,664 -6,463,143 50,720,577
Net Income to Common 12,423,063 9,745,636 34,549,664 -6,463,143 51,128,844
Net Income Growth -50.93% -71.79% - - 1,040.25%
Shares Basic 196,794,514 325,559,997 325,559,997 576,008,487 576,008,487
Shares Outstanding (Diluted) 196,794,514 325,559,997 325,559,997 576,008,487 576,008,487
Shares Yo Y -0.29 - -0.43 - -0.01
Eps Basic 0.06 0.03 0.11 -0.01 0.09
EPS (Diluted) 0.06 0.03 0.11 -0.01 0.09
EPS Growth -30.99% -71.79% - - 1,055.47%
Free Cash Flow 4,938,040 6,261,555 9,601,278 -353,238 320,185
Free Cash Flow Per Share 0.03 0.02 0.03 0.00 0.00
Dps - - - 0.02 -
Dividend Growth - - - - -
Gross Margin 84.08% 83.07% 74.30% 32.17% 37.17%
Operating Margin 52.10% 57.71% 43.41% -26.77% -27.30%
Profit Margin 80.15% 60.61% 126.01% -14.24% 112.41%
Free Cash Flow Margin 31.86% 38.95% 35.02% -0.78% 0.70%
Effective Tax Rate 0.31 0.22 0.06 - 0.17
EBITDA 8,999,123 10,811,828 14,668,387 -2,414,575 1,658,019
D&A For EBITDA 923,363 1,532,984 2,766,507 9,732,574 14,077,069
EBITDA Margin 58.06% 67.25% 53.50% -5.32% 3.65%
EBIT 8,075,760 9,278,844 11,901,880 -12,147,149 -12,419,050
EBIT Margin 52.10% 57.71% 43.41% -26.77% -27.30%
Revenue as Reported 60,618,256 33,305,319 68,307,972 69,584,053 117,052,687
Advertising Expenses - 25,378 30,225 723,447 330,039
Preferred Dividends & Other Adjustments - - - - -408,267
Payoutratio - - 33.82% - 7.45%

Ratios and Metrics

Annual Data
Metric TTM 2024 2023 2022 2021
Fiscal Year 2,025 2,024 2,023 2,022 2,021
Fiscal Quarter Q3 Q4 Q4 Q4 Q4
Marketcap 108,236,983 114,039,340 230,403,395 116,929,723 101,953,502
Market Cap Growth -4.63% -50.50% 97.04% 14.69% 42.02%
Enterprise Value 98,670,002 111,109,139 221,054,734 124,531,792 95,587,422
Last Close Ratios 55.00% 41.20% 40.00% 18.85% 16.44%
Pe 8.71 11.70 6.67 - 1.99
PS Ratio 6.98 7.09 8.40 2.58 2.24
PB Ratio 0.59 0.55 1.06 0.33 0.29
P/TBV Ratio 0.59 0.55 1.06 0.34 0.29
P/FCF Ratio - 18.21 24.00 - 318.42
P/OCF Ratio 21.92 18.21 24.00 - 318.42
EV/Sales Ratio 6.37 6.91 8.06 2.74 2.10
EV/EBITDA Ratio 10.96 10.28 15.07 - 57.65
EV/EBIT Ratio 12.22 11.97 18.57 - -
EV/FCF Ratio - 17.75 23.02 - 298.54
Debt / Equity Ratio - 0.06 - 0.02 0.02
Debt / EBITDA Ratio - 1.19 - - 3.98
Debt / FCF Ratio - 2.06 - - 21.42
Asset Turnover 6.90% 6.60% 8.30% 11.00% 13.60%
Inventory Turnover 8,008.40% 2,148.20% 645.50% 2,126.40% 3,630.00%
Quick Ratio 1.57 0.59 1.50 0.35 1.40
Current Ratio 6.19 8.29 1.54 0.46 1.49
Roe 6.42% 4.60% 12.18% -1.83% 17.15%
Return on Assets (ROA) 2.23% 2.37% 2.24% -1.83% -2.31%
Return on Capital (ROIC) 2.56% 2.66% 2.60% -2.11% -2.59%
Return on Capital Employed (ROCE) 0.04 0.04 0.05 -0.03 -0.03
Earningsyield 11.48% 8.55% 15.00% -5.53% 49.75%
FCF Yield - 5.49% 4.17% -0.30% 0.31%
Dividend Yield - - - 11.51% -
Payout Ratio - - 33.82% - 7.45%
Buyback Yield / Dilution 28.90% - 43.48% - 0.51%
Totalreturn 28.90% - 43.48% 11.51% 0.51%

Price History

Nov 02, 2017 — Jan 26, 2026 1825 Records
Date Open High Low Close Volume
2026-01-26 0.55 0.55 0.53 0.55 3,742
2026-01-25 0.54 0.54 0.53 0.53 11,700
2026-01-24 0.55 0.55 0.55 0.55 2,000
2026-01-22 0.55 0.55 0.55 0.55 2,000
2026-01-21 0.52 0.54 0.52 0.54 4,827
2026-01-20 0.52 0.52 0.52 0.52 1,800
2026-01-19 0.55 0.55 0.55 0.55 44
2026-01-18 0.58 0.58 0.49 0.50 153,420
2026-01-15 0.58 0.58 0.55 0.57 12,348
2026-01-14 0.53 0.59 0.52 0.59 105,299
2026-01-12 0.52 0.54 0.51 0.51 97,472
2026-01-11 0.52 0.54 0.51 0.51 97,472
2026-01-09 0.52 0.55 0.51 0.53 43,945
2026-01-08 0.52 0.55 0.51 0.53 43,945
2026-01-07 0.55 0.55 0.51 0.52 34,000
2026-01-06 0.55 0.55 0.55 0.55 369
2026-01-05 0.55 0.55 0.55 0.55 369
2026-01-04 0.55 0.55 0.55 0.55 369
2026-01-01 0.52 0.55 0.51 0.55 63,299
2025-12-31 0.52 0.55 0.51 0.55 63,299
2025-12-30 0.52 0.55 0.51 0.55 63,299
2025-12-29 0.52 0.55 0.51 0.55 63,299
2025-12-28 0.52 0.53 0.51 0.53 73,621
2025-12-25 0.54 0.55 0.52 0.55 47,200
2025-12-24 0.54 0.55 0.52 0.55 47,200
2025-12-23 0.54 0.55 0.52 0.55 47,200
2025-12-22 0.54 0.55 0.52 0.55 47,200
2025-12-21 0.55 0.55 0.54 0.55 1,872
2025-12-19 0.56 0.56 0.54 0.56 5,134
2025-12-18 0.56 0.56 0.54 0.56 5,134
2025-12-17 0.54 0.56 0.53 0.56 11,745
2025-12-16 0.55 0.55 0.52 0.55 82,700
2025-12-15 0.55 0.57 0.54 0.55 14,718
2025-12-14 0.54 0.56 0.54 0.55 22,807
2025-12-11 0.55 0.56 0.54 0.56 9,732
2025-12-10 0.55 0.56 0.54 0.56 9,732
2025-12-09 0.55 0.55 0.54 0.55 16,194
2025-12-08 0.54 0.54 0.51 0.54 31,265
2025-12-07 0.55 0.55 0.54 0.55 2,800
2025-12-05 0.54 0.55 0.54 0.55 22,028
2025-12-04 0.54 0.55 0.54 0.55 22,028
2025-12-03 0.55 0.55 0.54 0.55 12,030
2025-12-02 0.54 0.54 0.52 0.52 11,182
2025-12-01 0.55 0.56 0.53 0.53 71,242
2025-11-30 0.52 0.59 0.52 0.59 164,433
2025-11-28 0.52 0.59 0.52 0.59 164,433
2025-11-27 0.52 0.59 0.52 0.59 164,433
2025-11-26 0.53 0.53 0.52 0.52 8,788
2025-11-25 0.53 0.53 0.52 0.53 8,593
2025-11-24 0.52 0.52 0.50 0.52 2,762