Aumann AG (AAG.DE) 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

-28.7%

€9.77

vs €13.70 price

Levered DCF

€39.46

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.98

Grey 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	10.53×	7.22×	29.03×	176.34×	-34.2×	-9.52×	21.47×	25.25×
P/B	0.84×	0.77×	1.47×	0.92×	1.1×	0.93×	1.16×	2.34×
P/S	0.81×	0.5×	0.96×	0.81×	1.29×	1.01×	0.91×	1.58×
EV / EBITDA	1.09×	0.6×	6.81×	7.21×	-22.45×	-8.3×	8.33×	11.47×
Gross margin	12.1%	39.7%	31.7%	33.4%	32.6%	38.2%	41.3%	39.9%
Operating margin	9.9%	9.4%	9.2%	1.2%	-6.2%	-11.4%	6.3%	9.0%
Net margin	7.7%	6.9%	3.3%	0.5%	-3.8%	-10.6%	4.2%	6.3%
Current ratio	3.24×	2.81×	2.04×	2.38×	2.41×	2.97×	2.97×	2.63×
Debt / equity	0.02×	0.03×	0.05×	0.05×	0.07×	0.09×	0.1×	0.12×
Interest coverage	26.95×	24.37×	22.29×	3.4×	-13.63×	-20.01×	15.72×	20.15×
Dividend yield	1.7%	1.8%	0.5%	0.9%	0.0%	0.0%	1.3%	0.7%
Payout ratio	18.1%	13.3%	15.5%	153.6%	0.0%	0.0%	27.7%	16.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.0%	10.7%	5.1%	0.5%	-3.3%	-9.8%	5.4%	9.3%
Return on invested capital	6.1%	8.2%	7.3%	0.6%	-3.2%	-7.6%	4.6%	7.6%
Return on assets	5.3%	6.6%	2.7%	0.3%	-2.1%	-6.4%	3.4%	5.4%
Free cash flow yield	20.9%	9.1%	13.6%	14.4%	5.1%	-0.4%	-4.2%	2.6%
Earnings yield	9.5%	13.8%	3.4%	0.6%	-3.0%	-10.5%	4.7%	4.0%
Enterprise value	€29.1M	€23.5M	€153.6M	€63.4M	€148.8M	€121.8M	€178.1M	€375M
Net debt / EBITDA	-5.12×	-3.36×	-5.51×	-12.69×	9.02×	3.57×	-2.7×	-2.55×
Cash conversion cycle (days)	67	56	111	86	190	163	150	119