Per Aarsleff Holding (0REQ) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Per Aarsleff Holding DKK 1,308, price DKK 717, upside +82.5%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Per Aarsleff Holding A/S provides infrastructure and construction services for societies in Denmark and internationally. It operates through Construction, Technical solutions, Rail, Ground Engineering, and Pipe Technologies segments.
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Per Aarsleff Holding A/S provides infrastructure and construction services for societies in Denmark and internationally. It operates through Construction, Technical solutions, Rail, Ground Engineering, and Pipe Technologies segments. The company offers infrastructure services, such as roads and traffic facilities; construction of harbours and marine; burial of electrical, copper, and fibre cables; airport facilities; railways; mining; drinking water; geotechnical investigation; and sports field. It is involved in sewer systems, reservoirs, coastal protection, wastewater treatment plants, soil deposits, urban green spaces, waste management, sewer renewal, downpipes, ventilation channels, and CCTV inspection activities; and design, engineering, and installation of wind, combined heat, and power plants, as well as district heating and gas. In addition, the company undertake building construction, renovation, shell structures, technical contracts, construction pits, pile foundation, anchors, groundwater handling and site development; and collaboration activities, such as project development, One Company, service and maintenance, framework agreements, partnering, design and engineering, and digital building activities. Per Aarsleff Holding A/S was formerly known as Per Aarsleff A/S and changed its name to Per Aarsleff Holding A/S in April 2016. The company was founded in 1947 and is based in Viby J, Denmark.
Stock analysis
Per Aarsleff Holding (0REQ) currently trades at kr 716.50, while our model-based Fair Value estimate is kr 1,308, implying the stock looks roughly 45.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 1,199 per share, and 17 of the 25 models we run sit above the kr 716.50 price.
Bear case: the Dividend Discount group reads lowest at kr 264.55, and 8 of the 25 models stay below the price. Evidence for this calculation is low.
Scenario range: kr 845.32 (bear) to kr 1,673 (bull), the price of kr 716.50 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Per Aarsleff Holding reported revenue of 14.7B DKK in FY2021 versus 11.2B DKK in FY2017, a compound +7.1%/yr. Reported net income was 472M DKK in FY2021, compounding +15.2%/yr from FY2017.
Key figures
Market cap 5.5B DKK (≈ $824M) · P/S ratio 0.23 · Dividend yield 5.7% · Net margin 3.2% · Return on equity 17.1% · Return on assets (EBIT) 6.3% · Operating margin 4.1% · Revenue (TTM) 24.1B DKK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at 83%, 0REQ screens cheaper than that median.
Fair Value models
Bear kr 845.32Fair Value kr 1,308Bull kr 1,673
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.65/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+10.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.7%
’17
’18
’19
’20
’21
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
3.4% (2017) → 4.4% (2021)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 788 stocks
Beats the industry median on 10/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside+95.4% · Top 25%
Profitability
Return on equity (TTM)17.1% · Top 25%
Return on assets4.5% · Above median
Net margin (TTM)3.8% · Above median
Operating margin (TTM)4.1% · Below median
Growth and dividend
Revenue growth15.4% · Above median
Dividend yield (TTM)5.7% · Top 25%
Balance sheet
Debt / equity0.03× · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Is Per Aarsleff Holding (0REQ) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 1,308 versus a price of kr 716.50, about +83% upside (undervalued).
What is the fair value of 0REQ?
Our model-based fair value for Per Aarsleff Holding is kr 1,308 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 716.50.
What is the quality score of 0REQ?
Per Aarsleff Holding has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Per Aarsleff Holding (0REQ)?
Our model-based price target is the fair value of kr 1,308 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario kr 845.32, optimistic scenario kr 1,673. It is a calculation from audited fundamentals, not an analyst target.
What is the Per Aarsleff Holding stock forecast for 2026?
Our models put fair value at kr 1,308, about +83% upside versus a price of kr 716.50 (undervalued). Cautious scenario kr 845.32, optimistic scenario kr 1,673. The calculation is refreshed regularly with new filings.
What is the revenue of Per Aarsleff Holding (0REQ)?
Per Aarsleff Holding reported trailing-twelve-month revenue of about 24.1B DKK (latest available figure, as of Sep 24, 2026).
Does Per Aarsleff Holding pay a dividend?
Per Aarsleff Holding currently shows a dividend yield of about 5.65% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Per Aarsleff Holding (0REQ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Per Aarsleff Holding it is kr 1,308 per share (as of Sep 24, 2026), against a price of kr 716.50. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Per Aarsleff Holding stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0REQ trades below its calculated fair value: price kr 716.50, fair value kr 1,308, a gap of about +83% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0REQ?
No. The price is what the market pays today (kr 716.50); the fair value is what the company's own numbers justify (kr 1,308). For Per Aarsleff Holding the two are kr 591.31 per share apart. That gap is exactly why we show both numbers side by side.
How much is Per Aarsleff Holding worth?
The market values Per Aarsleff Holding at about 5.5B DKK (market capitalisation, as of Sep 24, 2026). Per share that is kr 716.50; our models calculate a fair value of kr 1,308 per share.
What do the bullish and bearish scenarios say about 0REQ?
Our models span a range for Per Aarsleff Holding: cautious scenario kr 845.32, base kr 1,308, optimistic kr 1,673 per share (as of Sep 24, 2026, price kr 716.50). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Per Aarsleff Holding (0REQ)?
Balance-sheet figures for Per Aarsleff Holding (as of Sep 24, 2026): return on equity 17.1%, debt of 0.03 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is 0REQ from its 52-week high?
Per Aarsleff Holding trades at kr 716.50, about 20% below its 52-week high of kr 901.00 and 13% above the low of kr 635.50 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 1,308 is for.
Which stocks are comparable to Per Aarsleff Holding?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Per Aarsleff Holding stock attractive at the current price?
The data as of Sep 24, 2026: price kr 716.50, calculated fair value kr 1,308 (+83%), Quality Score 62/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0REQ calculated?
We run Per Aarsleff Holding through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 1,308, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Per Aarsleff Holding currently trades 45 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Per Aarsleff Holding (0REQ)?
The closing price on Oct 2, 2026 was kr 716.50. Our model-based fair value is kr 1,308, about +83% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Per Aarsleff Holding right now?
The price is below even our cautious bear case (kr 845.32). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (kr 845.32 to kr 1,673) leaves room in how you read the outcome.
Key figures of Per Aarsleff Holding
How large is the market capitalisation of Per Aarsleff Holding (0REQ)?
The market capitalisation of Per Aarsleff Holding is 5.5B DKK (≈ $824M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Per Aarsleff Holding (0REQ)?
The price-to-sales ratio of Per Aarsleff Holding is 0.23 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Per Aarsleff Holding (0REQ)?
The dividend yield of Per Aarsleff Holding is 5.7%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Per Aarsleff Holding (0REQ)?
The net margin of Per Aarsleff Holding is 3.2% (fiscal year 2021). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Per Aarsleff Holding (0REQ)?
The return on equity (ROE) of Per Aarsleff Holding is 17.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Per Aarsleff Holding (0REQ)?
On an EBIT basis the return on assets of Per Aarsleff Holding is 6.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Per Aarsleff Holding (0REQ)?
The operating margin of Per Aarsleff Holding is 4.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Per Aarsleff Holding (0REQ)?
Revenue at Per Aarsleff Holding is growing +15.4% versus a year earlier (3y avg +6.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Per Aarsleff Holding (0REQ)?
Earnings per share at Per Aarsleff Holding are growing +15.6% versus a year earlier. How much earnings per share grew versus a year earlier.
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