Aalborg Boldspilklub A/S (AAB.CO) 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

-1030.9%

-DKK 251.35

vs DKK 27.00 price

Levered DCF

-DKK 343.30

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

0.32

Distress zone

Rating

C+

Overall 2 / 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	12.5×	-1.71×	-1.62×	-3.03×	-2.53×	3.24×	-0.67×	-1.67×
P/B	1.2×	1.33×	0.99×	0.77×	0.5×	0.41×	0.4×	0.43×
P/S	1.02×	1×	0.68×	0.56×	0.6×	0.87×	0.38×	0.56×
EV / EBITDA	-1.25×	-2.18×	-3.74×	16.52×	24.85×	0.33×	-1.31×	-3.34×
Gross margin	-66.4%	69.3%	69.1%	69.7%	70.4%	62.1%	63.8%	71.3%
Operating margin	-81.0%	-57.8%	-41.4%	-15.9%	-24.0%	27.5%	-57.5%	-31.7%
Net margin	8.2%	-58.8%	-42.0%	-18.5%	-23.8%	27.0%	-55.4%	-33.3%
Current ratio	1.61×	1.97×	1.85×	1.23×	1.69×	1.79×	0.95×	2.15×
Debt / equity	0.37×	0.53×	0.56×	0.54×	0.15×	0.13×	0.22×	0×
Interest coverage	-38.38×	-26.82×	-27.26×	-16.84×	-25.08×	19.18×	-64.52×	-24.41×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.6%	-77.9%	-61.4%	-25.5%	-19.7%	12.7%	-59.7%	-26.0%
Return on invested capital	-66.2%	-47.9%	-36.9%	-13.6%	-16.5%	10.7%	-59.7%	-24.8%
Return on assets	4.9%	-37.5%	-26.7%	-11.8%	-11.0%	7.3%	-35.1%	-20.0%
Free cash flow yield	-57.4%	-76.1%	-77.4%	-117.7%	22.4%	5.7%	-120.1%	-48.8%
Earnings yield	8.0%	-58.6%	-61.9%	-33.0%	-39.5%	30.9%	-147.8%	-60.1%
Enterprise value	DKK 58.1M	DKK 53.7M	DKK 47.6M	DKK 63M	DKK 12.4M	DKK 8.6M	DKK 28.8M	DKK 31.2M
Net debt / EBITDA	0.37×	0.88×	0.63×	3.98×	-52.94×	-1.15×	-0.28×	0.81×
Cash conversion cycle (days)	77	26	72	85	-22	265	-19	58