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Allgeier SE (AEIN) Fair Value & Analysis

Technology · DE · Market cap €182M

AS Allgeier SE AEIN · XETRA
Price€16.65
Fair Value€22.19
Upside+33.3%
Quality53/100
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Weak Growth
Thin margins · 5.8% net margin
Low debt · generates free cash flow
6.19% dividend yield
Mixed vs. peers (6/14)
Narrow moat 34/100
Evidence: Medium Range €15.62 – €28.70 Share as image

Fair value as of: Jul 12, 2026

From 24 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from €22.33 to €22.19 (−0.6%) since Jun 24, 2026. Share price +3.1% over the past month.

A solid business, screening 33% undervalued on our models.

What matters now

  • Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€15.62 to €28.70) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€50.70 €12.60 Fair Value €22.19 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range €12.60 – €50.70 · fair‑value band €15.62 – €28.70 · the €16.65 price screens below the €22.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Allgeier SE (AEIN) currently trades at €16.65, while our model-based Fair Value estimate is €22.19, implying the stock looks roughly 33.3% undervalued today. The Quality Score stands at 53/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Allgeier SE generated revenue of €342M at a net margin of 5.8%. Revenue declined 8.4% year over year. It earns a return on equity of 3.6%. Net debt stands at €61.8M. Fundamentals as of Jul 12, 2026

Our scenario range runs from €15.62 (bear case) to €28.70 (bull case); at €16.65, the current price sits within 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 31% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 33%, AEIN screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF €11.68 €15.11 €20.20 80
Residual Income €11.99 €13.93 €24.56 76
Rev-Margin DCF €9.13 €13.73 €19.49 74
All 24 models by family
DCF Models
FCF DCF €11.33 €14.97 €20.84 38
Owner Earnings €19.13 €24.80 €33.92 31
5Y Revenue Exit €9.13 €13.34 €19.42 39
5Y EBITDA Exit €17.74 €28.21 €42.06 41
5Y P/E Exit €17.91 €28.50 €41.12 38
10Y Revenue Exit €9.91 €12.77 €15.72 36
10Y EBITDA Exit €14.58 €20.62 €27.05 37
10Y P/E Exit €14.67 €20.77 €26.58 35
Earnings-Based
Graham-Dodd €13.37 €16.35 €18.39 54
EPV €4.00 €4.81 €5.46 59
Dividend Discount
Gordon GGM €3.54 €3.78 €4.14 70
DDM Multi-Stage €3.54 €4.10 €4.79 61
Multiples
P/E Multiple €30.98 €41.30 €51.63 63
P/S Multiple €25.08 €33.44 €41.80 58
P/B Multiple €25.08 €33.44 €41.80 55
EV/EBIT €12.31 €17.32 €22.33 53
EV/EBITDA €27.90 €38.10 €48.30 54
EV/Revenue €8.01 €12.61 €17.20 43
Asset-Based
NCAV (Graham) €6.76 €9.06 €13.52 50
Growth DCF
Growth DCF €11.68 €15.11 €20.20 80
Rev-Margin DCF €9.13 €13.73 €19.49 74
Economic Profit
Residual Income €11.99 €13.93 €24.56 76
ROIC Compounder €4.00 €4.81 €5.46 72
Growth Earnings
Growth-Adj P/E €21.87 €31.25 €40.62 68

Widest divergence: Multiples (€33.44) versus Dividend Discount (€3.78). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €342M
Revenue growth (YoY) -8.4%
Net margin 5.8%
Return on equity 3.6%
Free cash flow €21.9M FY2025
P/E ratio 55.6
More key figures
Operating margin 3.0%
EPS (TTM) €0.3100
EPS growth (YoY) -76.5%
Net debt €61.8M FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 52 · Market factors (momentum, volatility) 47

Profitability 43
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 85
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.

About the company

Allgeier SE provides information technology (IT) solutions and software services in Germany. It operates in two segments: Enterprise IT and mgm technology partners.

Full company description

Allgeier SE provides information technology (IT) solutions and software services in Germany. It operates in two segments: Enterprise IT and mgm technology partners. The company provides software lifecycle services, nearshore-/offshore delivery, big data / business intelligence, industry solutions and cloud, managed services & app management, mobile enterprise/apps, process and IT consulting, IT security, enterprise content management, and IT infrastructure services. It is also involved in designing, developing, launching, and operating business software solutions, such as document management; enterprise content management; e-commerce, business process management; business digitalization platform and business efficiency solutions; IT services and open-source software development; consultancy, software solutions; cloud transformation and cloudnative application development; and provides field service and asset management. The company engages in management consultancy and digital consulting, Business analysis and requirements engineering, software modelling and development, design and usability, web and application security, quality assurance, testing automation, SAP integration, process optimization, cloud services. Allgeier SE was founded in 1977 and is headquartered in Munich, Germany.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Allgeier SE reported revenue of €328M in FY2025 versus €404M in FY2021, a compound −5.1%/yr. Reported net income was €22.2M in FY2025, compounding +17.1%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€328M
Latest YoY
−18.7%
Avg. 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.
−12.0%
Avg. 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.
−15.6%
Avg. growth/yr (18Y) 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.
+0.5%
Revenue −5.1%/yr
FY21 €404M
FY22 €480M
FY23 €489M
FY24 €403M
FY25 €328M
Net income +17.1%/yr
FY21 €11.8M
FY22 €21.6M
FY23 €13.1M
FY24 €7.3M
FY25 €22.2M
Character of growth · EPS growth decomposed (2014-2025) +6.6 % p.a.
Revenue per share −4.0 pp

of which total revenue −1.3 pp · buybacks/dilution −2.6 pp

EBIT margin +6.3 pp
Tax rate +4.7 pp
Residual (interest, one-offs) −0.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Allgeier SE Fair Value". https://www.fairvalue-calculator.com/stock/AEIN

Peer Group

Information Technology Services · 475 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 53 · Below median
Fair Value upside +33% · Above median
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 3% · Below median
Revenue growth 9% · Above median
Dividend yield (TTM) 6.2% · Top 25%
Debt / equity 0.47× · Higher than 75% of peers

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 52.1× · Pricier than 75% of peers
P/B 1.38× · Cheaper than median
P/S (TTM) 0.62× · Cheaper than median
P/FCF 9.6× · Pricier than 75% of peers
EV/EBITDA 9.9× · Pricier than median

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.

VALUE 78 · sector 21
FUTURE 47 · sector 31
PAST 14 · sector 37
HEALTH 76 · sector 97
DIVIDEND 100 · sector 37

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is Allgeier SE (AEIN) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of €22.19 versus a price of €16.65, about +33% (undervalued).
What is the fair value of AEIN?
Our model-based fair value for Allgeier SE is €22.19 (as of Jul 12, 2026), built from audited fundamentals. The current price is €16.65.
What is the quality score of AEIN?
Allgeier SE has a Quality Score of 53/100. 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 revenue of Allgeier SE (AEIN)?
Allgeier SE reported trailing-twelve-month revenue of about €342M (latest available figure, as of Jul 12, 2026).
What is the net profit margin of AEIN?
The net profit margin of Allgeier SE is about 5.8%, meaning it keeps roughly 5.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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