# The Magnum Ice Cream Company N.V. (MICC.AS)

Canonical: https://gigainvestors.com/s/MICC.AS

Analysis as of: 2026-10-16T07:35:42.525Z. 

Listing currency: EUR. Reporting currency: EUR.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: EUR 16.46 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Matthew McLennan](https://gigainvestors.com/FE): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Steven Romick](https://gigainvestors.com/FPA): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Richard Pzena](https://gigainvestors.com/PIM): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Mason Hawkins](https://gigainvestors.com/SE): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [William Browne](https://gigainvestors.com/TB): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Nelson Peltz](https://gigainvestors.com/TF): tracked 13F investor; follow the investor page for holding quarter and amounts.

- [Lee Ainslie](https://gigainvestors.com/mc): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Up 21% since Dec 2025

Story as of 2026-10-16T10:01:27.149Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in packaged foods; annual sales are EUR 7.9 billion.

- Source: https://filings.xbrl.org/25490052LLF3XH6G9847/2025-12-31/ESEF/NL/0/25490052LLF3XH6G9847-2025-12-31-1-en.json (filed 2026-03-18); FY2025: revenue 7910000000; grossProfit 2739000000; margin = grossProfit / revenue.

### Why customers stay

Margins ranged from 34.1% to 34.9% during 2023–25.

- Source: https://eodhd.com/api/fundamentals/MICC.AS.json#2023-12-31 (filed 2026-03-18); FY2023: grossProfit / revenue = 34.1%.

- Source: https://eodhd.com/api/fundamentals/MICC.AS.json#2024-12-31 (filed 2026-03-18); FY2024: grossProfit / revenue = 34.9%.

- Source: https://eodhd.com/api/fundamentals/MICC.AS.json#2025-12-31 (filed 2026-03-18); FY2025: grossProfit / revenue = 34.6%.

### Where the cash goes

Paid dividends in 2 of 4 years.

- Source: https://eodhd.com/api/fundamentals/MICC.AS.json#2022-12-31 (filed 2026-03-18); FY2022: growth capex 0; upkeep 295000000; owner earnings 438200000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/MICC.AS.json#2023-12-31 (filed 2026-03-18); FY2023: growth capex 0; upkeep 280000000; owner earnings 537800000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/MICC.AS.json#2024-12-31 (filed 2026-03-18); FY2024: growth capex 55000000; upkeep 266000000; owner earnings 550200000. Growth capex / owner earnings = 0.0999636495819702.

- Source: https://eodhd.com/api/fundamentals/MICC.AS.json#2025-12-31 (filed 2026-03-18); FY2025: growth capex 0; upkeep 360000000; owner earnings 242400000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-18); Dividend observations: [[2022,0],[2023,0],[2024,11000000],[2025,83000000]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 27.2% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); MICC.AS SharesStats.PercentInsiders = 27.244 percentage points; cache date 2026-10-16.

### What the price says

The price is 1.3 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-18); Closing price 16.464 EUR; reporting-to-trading FX 1; FY2025 annual sales per share 12.849252761533464; price multiple 1.281319646017699. FY2025 cash earnings/share 0.3937621832358674. Closing-price date 2026-10-15.

## Monthly share-price history (EUR per share)

- 2025-12: EUR 13.62 per share

- 2026-01: EUR 14.99 per share

- 2026-02: EUR 13.44 per share

- 2026-03: EUR 12.71 per share

- 2026-04: EUR 12.44 per share

- 2026-05: EUR 13.90 per share

- 2026-06: EUR 15.24 per share

- 2026-07: EUR 16.20 per share

- 2026-08: EUR 17.68 per share

- 2026-09: EUR 15.71 per share

- 2026-10: EUR 15.91 per share

## Annual estimated value (EUR per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 20-F filing](https://www.sec.gov/Archives/edgar/data/2071668/000110465926029805/micc-20251231x20f.htm); period 2025-12-31, filed 2026-03-18.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.