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Alan Allman Associates SA (AAA) Fair Value & Analysis

Industrials · FR · Market cap €86.3M · ISIN FR0000062465

What is Alan Allman Associates SA really worth?

AA Alan Allman Associates SA AAA · PA
Price€1.75
Fair Value€2.36
Upside+34.9%
Quality47/100

Below-average quality, trading 26% below our fair value of €2.36.

As of Aug 13, 2026, the fair value of Alan Allman Associates SA is €2.36 per share against a price of €1.75, so the fair value sits 35% above the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Mixed Growth (revenue 5y +18.7 %/yr)
!Loss-making · -2.8% net margin
!High debt · generates free cash flow
!Trails peers (4/14)
!Narrow moat 25/100
!Evidence only medium, so the estimate is less certain
Evidence: Medium Range €1.94 – €3.86

Fair value as of: Aug 13, 2026

From 15 valuation models · updated 23 days ago

Share price +16.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (€1.94). The market is more pessimistic than our downside scenario.
  • Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€1.94 to €3.86) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€20.84 €1.42 Fair Value €2.36 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range €1.42 – €20.84 · fair‑value band €1.94 – €3.86 · the €1.75 price screens below the €2.36 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Alan Allman Associates SA (AAA) currently trades at €1.75, while our model-based Fair Value estimate is €2.36, implying the stock looks roughly 25.8% undervalued today. The Quality Score stands at 47/100 (below-average quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of €4.14 per share, and 10 of the 15 models we run sit above the €1.75 price. Bear case: the Dividend Discount group reads lowest at €0.4100, and 5 of the 15 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Alan Allman Associates SA generated revenue of €330M at a net margin of −2.8%. Revenue declined 12.6% year over year. It earns a return on equity of −21.7%. Net debt stands at €164M. Fundamentals as of Aug 13, 2026

Our scenario range runs from €1.94 (bear case) to €3.86 (bull case); at €1.75, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 62% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −21% fair-value upside, at 35%, AAA screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

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. Evidence
Highest evidence
FCF DCF best evidence €2.16 €3.23 €4.46 81
Growth DCF €2.22 €3.20 €4.29 79
5Y EBITDA Exit €2.89 €5.16 €7.68 74
All 15 models by family
DCF Models
FCF DCF best evidence €2.16 €3.23 €4.46 81
5Y Revenue Exit €1.60 €2.93 €4.53 71
5Y EBITDA Exit €2.89 €5.16 €7.68 74
10Y Revenue Exit €1.76 €2.86 €4.12 66
10Y EBITDA Exit €2.51 €4.13 €6.04 68
Earnings-Based
EPV €0.2200 €0.4600 €0.6600 70
Dividend Discount
Gordon GGM €0.3100 €0.4200 €0.5100 69
DDM Multi-Stage €0.3100 €0.4100 €0.5000 67
Multiples
EV/EBIT €2.65 €4.14 €5.63 65
EV/EBITDA €4.32 €6.38 €8.43 66
EV/Revenue €1.36 €2.73 €4.10 51
Asset-Based
NCAV (Graham) €0.4400 €0.5900 €0.8800 54
Growth DCF
Growth DCF €2.22 €3.20 €4.29 79
Rev-Margin DCF €1.60 €3.01 €4.51 71
Economic Profit
ROIC Compounder €0.2200 €0.4600 €0.6600 69

Widest divergence: Multiples (€4.14) versus Dividend Discount (€0.4100). Highest evidence: FCF DCF (81).

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Key figures & financial health

P/S ratio 0.28 TTM
EPS (TTM) €−0.2100
Dividend yield 2.2%
Net margin −2.8% FY2025
Return on equity −21.7% TTM
Return on assets (EBIT) 5.7% avg 5y
More key figures
Profitability
Operating margin 5.9% TTM
Growth
Revenue (TTM) €330M TTM
Revenue growth (YoY) −12.6% 3y avg +1.0%
EPS growth (YoY) −72.6%
Balance sheet & cash flow
Free cash flow €23.6M FY2025
Net debt €164M FY2025 · ≈ 6.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 47/100

Of which business quality 44 · Market factors (momentum, volatility) 21

Profitability 20
Margins and returns on capital today
Quality Growth 38
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 6
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 1
Distance to the 52-week high (market factor)
Net Issuance 75
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Alan Allman Associates, together with its subsidiaries, engages in the provision of consulting services in Canada, France, Belgium, Luxembourg, Switzerland, and Singapore.

Full company description

Alan Allman Associates, together with its subsidiaries, engages in the provision of consulting services in Canada, France, Belgium, Luxembourg, Switzerland, and Singapore. The company offers technology consulting in the areas, including cybersecurity, cloud, data management, digitalization of tools and processes, etc.; strategy and management consulting comprising risk management, commercial intelligence, market finance, process management, change management, etc.; and industrial transformation consulting, such as purchasing and supply chain issues, relocation, cost reduction, project management, materials, process consulting, etc. The company was incorporated in 1954 and is based in Issy-les-Moulineaux, France. Alan Allman Associates operates as a subsidiary of CAMAHËAL Finance S.A.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Alan Allman Associates SA reported revenue of €330M in FY2025 versus €177M in FY2021, a compound +16.9%/yr. Reported net income was −€9.4M in FY2025.

Growth Quality 46/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€330M
Latest YoY
−11.7%
Avg. revenue growth/yr (3Y) 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.
+1.0%
Avg. revenue growth/yr (5Y) 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.
+18.7%
Avg. revenue growth/yr (21Y) 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.
+5.7%
EBIT 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.
5.4% (2020) → 4.8% (2025)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +16.9%/yr
FY21 €177M
FY22 €321M
FY23 €366M
FY24 €374M
FY25 €330M
Net income
FY21 €6.4M
FY22 €9.4M
FY23 €5.7M
FY24 −€12.2M
FY25 −€9.4M

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Cite: Fair Value Calculator (2026). "Alan Allman Associates SA Fair Value". https://www.fairvalue-calculator.com/stock/AAA.PA

Peer Group

Consulting Services · 80 stocks

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.

Quality Score 47 · Bottom 25%
Fair Value upside +35% · Above median
Return on assets 3% · Below median
Net margin (TTM) −3% · Bottom 25%
Operating margin (TTM) 6% · Below median
Revenue growth −13% · Bottom 25%
Dividend yield (TTM) 2.2% · Below median
Debt / equity 2.37× · Higher than 75% of peers

Valuation Multiples vs Consulting Services median · lower = cheaper

P/B 2.52× · Pricier than median
P/S (TTM) 0.30× · Cheaper than 75% of peers
P/FCF 4.3× · Cheaper than median
EV/EBITDA 8.0× · Cheaper than median
PEG 3.81× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE80 · sector 23
FUTURE0 · sector 17
PAST0 · sector 35
HEALTH0 · sector 89
DIVIDEND44 · sector 62

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Consulting Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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ALS Limited ALQ A$21.94 A$10.93 −50%
Booz Allen Hamilton Holding BAH $75.38 $146.45 +94%
DKSH Holding DKSH CHF 66.30 CHF 64.81 −2%
FTI Consulting, Inc FCN $151.36 $168.44 +11%
Centre Testing International Group 300012 ¥14.98 ¥11.90 −21%
GRG Metrology & Test Group 002967 ¥17.23 ¥11.69 −32%

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Frequently asked questions

Is Alan Allman Associates SA (AAA) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €2.36 versus a price of €1.75, about +35% upside (undervalued).
What is the fair value of AAA?
Our model-based fair value for Alan Allman Associates SA is €2.36 (as of Aug 13, 2026), built from audited fundamentals. The current price: €1.75.
What is the quality score of AAA?
Alan Allman Associates SA has a Quality Score of 47/100. 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 Alan Allman Associates SA (AAA)?
Our model-based price target is the fair value of €2.36 (as of Aug 13, 2026) from 15 valuation models. Cautious scenario €1.94, optimistic scenario €3.86. It is a calculation from audited fundamentals, not an analyst target.
What is the Alan Allman Associates SA stock forecast for 2026?
Our models put fair value at €2.36, about +35% upside versus a price of €1.75 (undervalued). Cautious scenario €1.94, optimistic scenario €3.86. The calculation is refreshed regularly with new filings.
What is the revenue of Alan Allman Associates SA (AAA)?
Alan Allman Associates SA reported trailing-twelve-month revenue of about €330M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of AAA?
The net profit margin of Alan Allman Associates SA is about −2.8%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Alan Allman Associates SA pay a dividend?
Alan Allman Associates SA currently shows a dividend yield of about 2.20% relative to its recent price (as of Aug 13, 2026).
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