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MOHEnergy · Oil & Gas Refining & Marketing · ΧΑ

Motor Oil

€68.15
−0.65(−0.94%)
Close 26/10/2026 · end-of-day price, not real-time

Motor Oil (MOH) closed at €68.15 on 26/10/2026, -0.94% on the day. Market cap €7.4bn, P/E 6.3, dividend yield 2.62%.

My view
Private · MENTOR takes it into account
+91.4%6M
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26/10/2026Close 68.15−0.94%+91.4% since start

Key statistics

12 months to Jun 2026 unless a figure says otherwise

Profile

At the 26 Oct close
Market value
€7.4bn
Enterprise valueJun 2026est.
€8.3bn
Shares outstandingJun 2026
108.6m
Revenue12 months to Jun 2026
€13.7bn
Employees
196,647
Free float
57.1%
Traded a day, 3-month average
€23.8m

Valuation

12 months to Jun 2026
P/E
6.3×
P/B
1.9×
EV/Salesest.
0.60×
EV/EBITDAest.
4.8×

5 years, on reported full years: 2.5–8.7×, median 4.6×. Today 8.5×, higher than 96% of months.

P/FCF
7.4×
Dividend yield
2.6%

Margins

12 months to Jun 2026
GrossFY2025
9.1%
EBITDA
12.5%
Operating (EBIT)
10.3%
Pre-taxFY2025
7.2%
Net
8.5%
Free cash flow
7.3%

Net margin = the shareholders' profit ÷ group revenue.

Returns

12 months to Jun 2026
ROE
30.2%
ROCE
30.0%
ROICest.
23.6%
ROAFY2025
8.1%
ROE, 5-year averageFY2021–25
29.0%
Tax rateFY2025
21.3%

Financial health

Jun 2026
CashDec 2025
€1.4bn
Net debt
€814m
Net debt ÷ EBITDA
0.47×
Debt ÷ equityDec 2025
88.0%

leases included

Interest cover12 months to Jun 2026
28.4×

Growth

Revenue, last yearFY2025
−5.8%
Revenue, last halfH1 2026
+42.9%
EPS, last yearFY2025
+128.2%
EPS, last halfH1 2026
+322.0%
Revenue, 3 yearsFY2022–25, a year
−11.6%
Revenue, 5 yearsFY2020–25, a year
+13.4%
EPS, 3 yearsFY2022–25, a year
−12.1%
Shares, 3 yearsFY2022–25
−0.5%

Dividends

FY2025
Yield, last 12 months
2.6%
Per share
€1.750
Payout
29.3%
Covered by free cash flow
1.2×
Years paid, last fiveFY2021–25
5

Trading and risk

From our closes, dividends reinvested
Total return, 1 year
+184.5%
3 years, a year
+54.4%
5 years, a year
+44.6%
10 years, a year
+26.5%
Volatility, 1 year
32.6%
Beta to the General Index
0.56×
Deepest fall, 1 year / 5 years
−12.0% / −28.9%
52-week range
€25.50–€70.00
est.worked out by usread with care: tap for why

Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.

Financial charts

From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements

Loading the charts…

Valuation

vs ELPE
MetricMOHELPE
P/Eone-off6.3—
P/B1.91.7
P/S0.540.42
EV/EBITDAone-off4.8—
Dividend yield2.6%3.2%
Payout ratio29.3%131.6%
Gross margin9.1%9.8%
Operating margin10.3%11.1%
Net margin8.5%7.8%
ROE30.2%30.7%
Revenue growth (last full year)−5.8%−9.0%
Net debt€814.0m€2.0bn
Twelve Data · latest quarter 30/06/2026

Peers: Refiners

EV/EBITDADay
Motor OilMOH4.8−0.9%
HelleniQ EnergyELPE4.2−0.2%

Not compared: MTLN (industrial groups)

The company

AI-drafted

Motor Oil refines crude at its Agioi Theodoroi refinery in Corinth, with capacity above 200 thousand barrels a day, and sells fuels mainly for export and bunkering. It also runs about 1,540 service stations, 1,020 MW of renewables, electricity and gas supply through NRG, and waste and recycling businesses.

How it makes moneyH1 2026 · basis: revenue
  • Fuels3(revenue from third parties)61%
  • Consumer Services332%
  • Electrification34%
  • Circular Economy33%
  • Other30%
It is
  • A single-site refiner at Agioi Theodoroi with a Nelson complexity index of 12.61 and capacity above 200 thousand barrels a day.4
  • Family-controlled: Motor Oil Holdings Ltd controls 40.97% of the voting rights.2
  • Export-led: exports and bunkering were 78.10% of sales volume in H1 2026.3
It is not
  • Not an oil producer or explorer: it buys all its crude, 46% from Iraq and 25% from Libya in H1 2026.1
  • Not state-controlled: there is no golden share, no special control rights and no restriction on voting rights.2
Recent developmentsAll company events →
  • Aug 2026Binding agreement to sell 75% of MANETIAL (HELECTOR and THALIS) to AKTOR at a €300m enterprise value on a 100% basis.3,5
  • Jul 2026Framework term sheet with AKTOR for the acquisition of 50% of DIORIGA GAS, the vehicle for the FSRU LNG import terminal.3
  • Jun 2026Issued €400m of 3.750% notes due 2031, refinancing the 2.125% notes maturing in 2026.3
  • Jun 2026MORE agreed to sell 107 MW of operating wind farms to PPC Renewables, while UNAGI sold 51% of twelve solar SPVs for €60m.3
  • May 2026Sold 41.75m ELLAKTOR shares to Reggeborgh for €37.2m, cutting the stake to 10.411%.3
  • Jul 2025Binding agreement with GEK TERNA for a 50/50 utility with about 550,000 customers and 1.5 GW of dispatchable generation; cleared by the European Commission in January 2026.2,4
Key figures
  • Adjusted refining margin $165/MT H1 20261
  • Processed volume 6.6m t H1 20261
  • RES installed capacity 1,020 MW H1 20261
  • Service stations 1,540 H1 20261
  • Net debt €814m H1 20261
Key facts
  • H1 2026 turnover was €7.52bn and net income after minorities €686m, against €162m a year earlier.1
  • The FY2025 dividend was €1.75 per share, €193.9m in total, a 5.57% yield on the 31 December 2025 closing price.2
  • Net debt fell to €814m at 30 June 2026 from €1.58bn at the end of 2025.1
  • The group employed 4,503 people at 30 June 2026, against 4,334 a year earlier.3
  • The company had 110,782,980 issued ordinary shares in FY2025, including treasury shares. Issued shares are not the same as dividend-eligible shares.2,3
Sources
  1. 1.Performance review H1 2026 financial resultsMotor Oil (Hellas) Corinth Refineries · 26/08/2026official
  2. 2.Annual Financial Report for the fiscal year 2025Motor Oil (Hellas) Corinth Refineries · 23/03/2026official
  3. 3.Interim Financial Report for the period ended 30 June 2026Motor Oil (Hellas) Corinth Refineries · 26/08/2026official
  4. 4.Strategy and Outlook update, Growth Resilience and Energy SecurityMotor Oil (Hellas) Corinth Refineries · 14/11/2025official
  5. 5.Aktor signs binding agreement with Motor Oil to acquire 75% of HELECTOR and THALISProtothema English · 05/08/2026
AI-drafted from the cited sources · 30/09/2026 · v5 · ✓ checked by an independent second modelMotor Oil (Hellas) S.A.Website ↗
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Why it moved
-0.94% · volume 0.8×
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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.