AIB Group plc (A5G.IR) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+480.2%

€62.78

vs €10.82 price

Levered DCF

€35.03

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.6

Distress zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	9.89×	5.79×	5.11×	13.92×	10.19×	-5.6×	25.92×	9.44×
P/B	1.51×	0.85×	0.68×	0.79×	0.43×	0.34×	0.61×	0.72×
P/S	3.47×	2.1×	1.84×	3.08×	2.42×	1.74×	3.13×	3.21×
EV / EBITDA	-2.89×	-4.38×	-6.33×	-17.32×	-31.48×	16.97×	7.57×	7.91×
Gross margin	76.7%	79.1%	82.4%	88.7%	97.6%	35.9%	88.3%	97.9%
Operating margin	38.1%	42.9%	42.9%	26.7%	25.4%	-36.2%	18.5%	40.0%
Net margin	36.7%	37.7%	37.1%	24.3%	27.0%	-29.4%	12.1%	35.1%
Current ratio	25.67×	0.35×	0.37×	0.38×	1,360.16×	612.17×	0.19×	400.35×
Debt / equity	0.99×	0.75×	0.74×	0.74×	0.58×	0.57×	0.65×	0.49×
Interest coverage	1.88×	2.15×	2.96×	2.39×	2.1×	-3.71×	1.7×	4.69×
Dividend yield	5.5%	5.3%	1.6%	1.3%	1.1%	1.0%	5.5%	3.3%
Payout ratio	52.5%	29.6%	8.1%	15.9%	10.0%	-6.0%	141.0%	29.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	16.0%	15.3%	13.7%	6.3%	4.7%	-5.7%	2.4%	7.9%
Return on invested capital	1.3%	7.5%	6.5%	2.7%	1.0%	-1.6%	1.3%	4.3%
Return on assets	1.4%	1.7%	1.5%	0.6%	0.5%	-0.7%	0.3%	1.2%
Free cash flow yield	17.7%	24.2%	-10.5%	-47.8%	236.0%	354.1%	44.1%	14.8%
Earnings yield	10.6%	18.0%	20.2%	7.9%	11.1%	-16.9%	3.9%	10.9%
Enterprise value	-€7.2B	-€13B	-€17B	-€19.7B	-€29.4B	-€13.4B	€4.8B	€10.1B
Net debt / EBITDA	-10.96×	-8.79×	-10.15×	-25.87×	-37.7×	22.76×	-5.83×	0.06×
Cash conversion cycle (days)	-18	-4	-14	-40	-373	3	14	-85