There (AAD) Fair Value & Analysis
Industrials · DE · Market cap €993M · ISIN DE0005093108
What is There really worth?
A solid business, but trading 568% above our fair value of €2.94.
As of Aug 28, 2026, the fair value of There is €2.94 per share against a price of €19.62, so the fair value sits 85% below the price. A model estimate blended from multiple valuation models, recalculated regularly.
Strengths
Risks
Fair value as of: Aug 28, 2026
From 16 valuation models · updated 9 days ago
Fair value updated Aug 28, 2026, revised from €2.85 to €2.94 (+3.2%) since Aug 13, 2026.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (€3.70). The favourable scenario is already priced in.
- 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 but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.
How to read this chart
60‑month range €19.60 – €172.59 · fair‑value band €2.19 – €3.70 · the €19.62 price screens above the €2.94 fair value. Dashed = 300-day average. As of Aug 28, 2026.
Analysis
There (AAD) currently trades at €19.62, while our model-based Fair Value estimate is €2.94, implying the stock looks roughly 567.6% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Industrials sector. Bull case: the Dividend Discount group reads highest at a median of €4.93 per share, and 0 of the 16 models we run sit above the €19.62 price. Bear case: the Earnings-Based group reads lowest at €1.52, and 16 of the 16 models stay below the price. Evidence for this calculation is low.
Net debt stands at €4.2M. Fundamentals as of Aug 28, 2026
Our scenario range runs from €2.19 (bear case) to €3.70 (bull case); at €19.62, the current price sits above 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 76% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 22% fair-value upside, at −85%, AAD screens richer 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.
All 16 models by family
Widest divergence: Dividend Discount (€4.93) versus Earnings-Based (€1.52). Highest evidence: FCF DCF (79).
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Key figures & financial health
Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 53 · Market factors (momentum, volatility) 16
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
There is no Profile data available for AAD.HA.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
There reported revenue of €364M in FY2025 versus €372M in FY2021, a compound −0.6%/yr. Reported net income was −€2.4M in FY2025.
AAD screens 568% overvalued. Compare with Adecco Group →
Peer Group
Staffing & Employment 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.
Valuation Multiples vs Staffing & Employment Services median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Staffing & Employment Services stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Adecco Group ADEN | CHF 24.06 | CHF 24.15 | +0% |
| Korn Ferry, KFY | $83.30 | $114.56 | +38% |
| Robert Half Inc RHI | $43.55 | $20.51 | −53% |
| TriNet Group TNET | $69.61 | $97.07 | +39% |
| ManpowerGroup Inc MAN | $61.19 | $23.19 | −62% |
| Insperity, Inc NSP | $51.40 | $17.34 | −66% |
| FESCO Group 600861 | ¥13.02 | ¥45.46 | +249% |
| Grupa Pracuj S.A GPP | 53.50 PLN | 65.45 PLN | +22% |
| Barrett Business Services, Inc BBSI | $32.95 | $38.11 | +16% |
| Maharah for Human Resources Company 1831 | 4.68 SAR | 6.87 SAR | +47% |
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