olivLaw · European equity research
RMS Mezzanine, a.s. PVT.PR
Czechia · Burza cenných papírů Praha · Vertical: Listed companies from Czechia
RMS Mezzanine, a.s. is a significant provider of alternative capital in the Czech Republic, Slovakia and Croatia, offering mainly credits structurally or contractually subordinated to traditional bank financing to small and medium-sized companies with quality management. At the end of 2020 the company's consolidated equity stood at 2 446 628 thousand CZK, and it employed 7 people.
At the close of 05 Nov 2026, RMS Mezzanine, a.s. (PVT.PR) stock was 1.00 CZK (−23.08% on the day), with market capitalisation 1.1 m CZK, P/E 0.0 on diluted EPS of 90.00 CZK over the last 12 months, beta 0.10, 52-week range 0.84–1.65 CZK.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 42.5
- weak (30–45)
- Bollinger (20, 2)
- 0.87 – 1.50
- in the lower half of the band · %B 0.21 · band width 53.7%
- SMA 50 / 200
- 1.16 / 1.36
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- 0.03 / 0.03
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | 0.0% | +0.4% | −0.4 pp | — |
| 3 months | +16.3% | −3.3% | +19.5 pp | — |
| 6 months | unavailable | +4.0% | unavailable | — |
| Year to date | −34.2% | +8.1% | −42.3 pp | — |
| 1 year | −33.3% | +10.7% | −44.0 pp | +5.9% |
| 3 years | unavailable | +50.1% | unavailable | +45.3% |
| 5 years | −55.4% | +43.6% | −99.0 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 2-quarter history (min 0.0, median 0.0, max 0.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 |
|---|---|---|
| Revenue | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable |
| Net income | 99.7 m | -95.9 m |
| Net income YoY | unavailable | −196.3% |
| Diluted EPS | 94.00 | 90.00 |
| Diluted EPS YoY | unavailable | −4.3% |
| net % | unavailable | unavailable |
| Free cash flow | 1.1 bn | -2.6 bn |
Balance sheet & financial health
Fiscal year 2020 · 31 Dec 2020
- Cash
- 9.2 m CZK
- Financial debt
- unavailable CZK
- Net debt
- unavailable CZK
- Equity
- 2.4 bn CZK
- Total assets
- 6.9 bn CZK
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- -3.8%
- ROA
- -1.7%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (CZK)
Income statement · CZK
Balance sheet · CZK
| Line | 2019 | 2020 | Source (latest year) |
|---|---|---|---|
| Cash | 50.1 m | 9.2 m | esef· 20 May 2021verified |
| Receivables | 5.6 m | 3.6 m | esef· 20 May 2021verified |
| Property, plant & equipment, net | 11.0 m | 7.3 m | esef· 20 May 2021verified |
| Total assets | 4.3 bn | 6.9 bn | esef· 20 May 2021verified |
| Accounts payable | 35.3 m | 32.7 m | esef· 20 May 2021verified |
| Total liabilities | 1.7 bn | 4.5 bn | esef· 20 May 2021verified |
| Equity | 2.5 bn | 2.4 bn | esef· 20 May 2021verified |
| Shares outstanding at year end | 1.1 m | — | esef· 20 May 2021derived |
Cash flow · CZK
| Line | 2019 | 2020 | Source (latest year) |
|---|---|---|---|
| Operating cash flow | 1.1 bn | -2.6 bn | esef· 20 May 2021verified |
| Capex | 44.0 k | 0 | esef· 20 May 2021verified |
| Free cash flow | 1.1 bn ≈ | -2.6 bn ≈ | esef· 20 May 2021derived |
| Investing cash flow | -159.3 m | 21.9 m | esef· 20 May 2021verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 2 of at least 6
- score weight coverage: 18.8% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 1.1 m CZK
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
19% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 2 of at least 6; score weight coverage: 18.8% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 0.0x | 100 (on a fixed band) | 56% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -245,962.1% | 0 (on a fixed band) | 44% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partialunavailable · 0/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partialunavailable · 0/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation56/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
RMS Mezzanine, a.s. (PVT.PR). Latest full fiscal year: 2020; data up to 2020-12-31.
Figures computed from the financial statements: ROE -3.9%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 2 of at least 6; score weight coverage: 18.8% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- P/E (TTM): 0.0x
What contradicts it
- FCF yield: -245,962.1%
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, Current ratio, EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Czechia · same country · compared with 4 companies
Multiples and returns vs the median
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| COLT.PRCZG - Česká zbrojovka Group SE | 26.5 bn | 39.4 | 16.9% | 9.9% | +14.4% | +7% / +49% |
| KOFOL.PRKofola ČeskoSlovensko a.s. | 11.2 bn | 139.1 | 5.6% | 1.3% | −3.7% | +5% / +82% |
| TOMA.PRTOMA, a.s. | 1.7 bn | 5.4 | 7.6% | 23.8% | +52.4% | +1% / +2% |
| ENRGA.PRENERGOAQUA, a.s. | — | — | 10.3% | 37.9% | +23.9% | +16% / +42% |
1- and 3-year price returns: for PVT.PR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
RMS Mezzanine, a.s. is a significant provider of alternative capital in the Czech Republic, Slovakia and Croatia, offering mainly credits structurally or contractually subordinated to traditional bank financing to small and medium-sized companies with quality management. At the end of 2020 the company's consolidated equity stood at 2 446 628 thousand CZK 1, and it employed 7 people 1.
SWOT
Strengths
- The company has a clear niche in subordinated alternative capital for small and medium-sized companies in the region 1.
- The company's consolidated equity is substantial relative to a very small team 1.
- The activity spans several markets and instruments, including bridge loans and acquisition financing 1.
Weaknesses
Opportunities
- If demand for alternative financing stays high, the company could expand its volume of subordinated credits 1.
- If acquisition transactions recover, bridge loans could become an additional source of income 1.
- The Croatian activity mentioned in the report could open a new market for financing small and medium-sized companies 1.
Threats
- The profit distribution case could affect reputation and relations with minority shareholders if the outcome is unfavourable 1.
- Credit risk of small and medium-sized borrowers could rise in a difficult economic environment 1.
- Exposure to different jurisdictions could generate additional legal or regulatory risks 1.
Risks
- Litigation on 2019 profitmedium
An unfavourable outcome in the case seeking annulment of the profit distribution could generate costs and uncertainty; the company stated that at this early stage it is difficult to estimate its chances of success 1.
- Concentration of controlhigh
Control through offshore holdings leaves important decisions with a single shareholder, which could affect minority shareholders 1.
- Borrower credit riskhigh
Subordinated credits are exposed to non-repayment risk, especially if small and medium-sized borrowers cannot meet their obligations during economic pressure 1.
- Dependence on a small staffmedium
With a very small number of employees, operations could be affected by the departure of key persons or difficulty in replacing them 1.
- Legal and regulatory complexitylow
Activity across several countries and through entities in different jurisdictions could generate compliance costs and regulatory risks 1.
Investment thesis
What would need to be true (bull case)
- If demand for subordinated capital stays high, the company's position in a specialised niche could support growth in credit volume 1.
- The substantial consolidated equity suggests a solid financial base to absorb losses, if repayments remain on schedule 1.
- Diversification into bridge loans and acquisition financing could reduce dependence on a single product type 1.
What would break the thesis
- If the case on 2019 profit ends unfavourably, uncertainty could follow about dividend policy and relations with shareholders 1.
- The control structure through offshore holdings could limit transparency and the confidence of external investors 1.
- A very small team could limit the company's capacity to expand quickly or to manage large volumes of credit 1.
What to watch
- Progress of the case seeking annulment of the 2020 general meeting resolution2021
- Dividend policy and distribution of profitnext annual report
- Development of headcount and team structure2021
- Changes in shareholder and control structurenext annual report
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
RMS Mezzanine, a.s. presents itself in its annual report as a significant provider of alternative capital in the Czech Republic, Slovakia and Croatia 1. The capital most often takes the form of credits that are structurally or contractually subordinated to traditional bank financing 1. The funds are also used to complete acquisition financing structures 1.
The main borrowers are small and medium-sized companies in the Czech Republic and Slovakia with quality management that need development capital and bridge loans 1. The company has no listed bonds, and the annual report indicates no significant dependence on patents or licences 1.
The group structure includes subsidiaries in Slovakia, Cyprus, Austria and Belarus, as well as a branch in Slovakia 1. At the end of 2020 control over the company was exercised indirectly by Ing. Mgr. Boris Procik through SIMFAX TRADING LIMITED 1.
Segments
Subordinated credits for small and medium-sized companies
The core activity consists of granting credits structurally or contractually subordinated to bank financing, aimed at small and medium-sized companies in the Czech Republic and Slovakia 1.
Bridge loans and acquisition financing
The company also finances bridge loans and completes acquisition financing structures, so this segment depends on the timing of borrowers' transactions 1.
Market context
The annual report describes the market as alternative capital that complements traditional bank financing in the Czech Republic, Slovakia and Croatia 1. Demand comes from small and medium-sized firms seeking development capital or bridge financing 1.
The data in the 2020 report do not allow an assessment of the size of this market or the company's share in it, so the outlook remains limited to a description of the activity 1.
Trends
- Demand for alternative subordinated financingmixed
Small and medium-sized companies that cannot fully obtain traditional bank financing could support demand for subordinated credits, if the need for development capital stays high 1.
- Acquisition financingtailwind
If acquisition transactions remain active, demand for completing financing structures could grow, especially for bridge loans 1.
- Concentration of ownershipheadwind
Control exercised through a holding structure with entities in Cyprus and the Seychelles can influence strategic decisions and transparency, which makes monitoring the shareholder structure relevant 1.
- Litigation on profit distributionheadwind
A pending case seeking annulment of the 2020 general meeting resolution on distributing 2019 profit may create uncertainty about dividend policy if the outcome is unfavourable 1.
Competitive position
The annual report does not explicitly name competitors. From the description of activity, the company could be compared with other mezzanine and alternative finance providers in the region, but the source does not confirm this 1.
The company's position depends on its relationships with small and medium-sized borrowers and its ability to structure subordinated credits to the needs of each client 1.
- Other mezzanine capital providers in Central Europe
Not identified in the source; the comparison remains hypothetical.
- Commercial banks in the Czech Republic and Slovakia
Mentioned as the traditional financing with which the company's credits are subordinated, not as direct competitors.
- Private debt funds in the region
Not mentioned in the source; appears only as a possible general comparison.
- Bridge loan providers for acquisitions
Not named in the report; the category is inferred from the activity described.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202020 May 2021
Sources
- [1] Annual report, fiscal year ended 2020-12-31 (ESEF) · SEC / RMS Mezzanine, a.s. · 31 Dec 2020
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.