Aallon Group Oyj (AALLON.HE) 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

+611.5%

€63.33

vs €8.90 price

Levered DCF

€36.31

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.42

Grey zone

Rating

Overall 3 / 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	17.46×	14.13×	23.78×	19.72×	47.2×	38.31×	96.82×	18.1×
P/B	2.47×	2.12×	2.88×	3.27×	3.97×	4.08×	4.46×	16.48×
P/S	1.03×	0.96×	1.27×	1.38×	1.82×	1.97×	2.82×	1.96×
EV / EBITDA	7.6×	6.43×	8.61×	8.06×	14.89×	14.97×	38.33×	260×
Gross margin	16.7%	89.2%	25.8%	89.4%	90.8%	93.5%	94.6%	95.0%
Operating margin	7.6%	8.9%	7.6%	5.9%	6.2%	8.0%	5.4%	13.6%
Net margin	5.8%	6.7%	5.4%	6.9%	3.8%	5.2%	2.8%	10.7%
Current ratio	0.6×	0.62×	0.93×	0.96×	1.24×	2.22×	2.87×	1.24×
Debt / equity	0.53×	0.49×	0.36×	0.15×	0.09×	0×	0×	0×
Interest coverage	10.27×	11.27×	7.49×	9.36×	5.97×	5.98×	3.27×	0×
Dividend yield	2.2%	2.6%	2.0%	1.9%	1.6%	2.0%	4.0%	0.0%
Payout ratio	38.5%	36.4%	46.2%	37.9%	75.6%	73.4%	400.8%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	14.0%	14.9%	12.2%	16.5%	8.2%	10.8%	4.5%	90.3%
Return on invested capital	8.7%	9.4%	9.6%	10.1%	9.0%	12.6%	6.3%	90.0%
Return on assets	6.4%	6.8%	6.4%	9.9%	5.3%	7.5%	3.3%	31.0%
Free cash flow yield	7.8%	14.4%	9.8%	8.1%	3.9%	5.7%	1.3%	0.0%
Earnings yield	5.7%	7.0%	4.2%	5.0%	2.1%	2.7%	1.0%	5.5%
Enterprise value	€47.4M	€37.8M	€43M	€39.4M	€42.6M	€30.6M	€32.3M	€28.4M
Net debt / EBITDA	1.08×	0.71×	0.23×	-0.22×	-0.74×	-2.71×	-6.93×	-15.98×
Cash conversion cycle (days)	-32	-23	27	-490	-5	-25	-95	-42