Allgeier SE (AEIN.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

+95.4%

€26.78

vs €13.70 price

Levered DCF

€15.51

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.6

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	10.78×	23.52×	18.77×	15×	53.65×	16.65×	4.71×	7.9×
P/B	1.57×	1.24×	1.77×	2.46×	5.53×	2.05×	0.5×	0.44×
P/S	0.73×	0.43×	0.5×	0.67×	1.58×	0.27×	0.09×	0.07×
EV / EBITDA	8.49×	5.4×	6.07×	6.83×	17.82×	7.35×	19.1×	3.5×
Gross margin	14.0%	31.5%	28.3%	24.9%	21.0%	25.0%	23.1%	16.9%
Operating margin	4.1%	4.2%	6.6%	7.0%	4.9%	5.3%	3.6%	2.3%
Net margin	6.8%	1.8%	2.7%	4.5%	2.9%	1.6%	1.9%	0.9%
Current ratio	1.49×	1.59×	1.24×	1.28×	1.29×	1.33×	1.6×	1.64×
Debt / equity	0.68×	1.33×	1.44×	1.47×	1.59×	0.58×	1.83×	1.68×
Interest coverage	1.8×	1.48×	2.98×	5.49×	5.74×	6.1×	3.75×	2.39×
Dividend yield	2.4%	3.3%	2.3%	1.8%	0.9%	2.7%	7.0%	10.0%
Payout ratio	25.8%	77.9%	43.7%	26.4%	48.2%	44.7%	33.0%	79.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	14.5%	5.3%	9.4%	16.4%	10.3%	12.3%	10.6%	5.5%
Return on invested capital	2.7%	3.6%	5.5%	5.8%	3.1%	9.2%	3.8%	2.2%
Return on assets	5.4%	1.6%	2.5%	4.2%	2.4%	5.1%	2.6%	1.3%
Free cash flow yield	9.2%	14.9%	7.0%	7.5%	3.8%	40.1%	70.7%	-8.4%
Earnings yield	9.3%	4.3%	5.3%	6.7%	1.9%	6.0%	21.2%	12.6%
Enterprise value	€300.8M	€300.9M	€361.6M	€429.6M	€749.5M	€208.2M	€236.9M	€160.8M
Net debt / EBITDA	1.74×	2.31×	1.96×	1.68×	2.7×	-0.04×	13.34×	2.43×
Cash conversion cycle (days)	59	41	29	30	37	12	48	55