MASTERBEEF GROUP (MB)

MASTERBEEF GROUP (MB) — VMCI valuation read

Headline read on MB: VMCI of 53/100 versus a Consumer Cyclical sector median of 50. The 3-point above-median position is what makes MASTERBEEF GROUP a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on MB: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on MB: value (MB trades at 17.0x earnings, 6% below the Consumer Cyclical median of 18.0x), quality (ROIC of 11.0% sits 1.0pp above the Consumer Cyclical median (10.0%)), and risk (net debt to EBITDA of -1.4x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Consumer Cyclical 12.0x baseline.

MB fell 2.4% over the trailing 7 days, with a -18.4% read on a 30-day basis.