Broedrene A&O Johansen A/S Series B (AOJ-B) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of Broedrene A&O Johansen A/S Series B stock DKK 148, price DKK 102, upside +45.7%, quality 57 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range kr 52.04 – kr 108.34 · fair‑value band kr 82.69 – kr 228.82 · the kr 101.60 price screens below the kr 148.04 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Brødrene A & O Johansen A/S, together with its subsidiaries, engages in the sale and distribution of technical installation materials and tools for construction companies in Denmark, Sweden, Norway, and internationally.
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It operates through two segments: Professional B2B and Private B2C. The company offers plumbing, fittings, sanitary ware, climate, electricity and lighting, tools and machines, brackets, workwear, water supply, and drainage, sewage and climate products. It also involved in the renting of equipment.
The company operates through stores, as well as sells its products online websites, such as AO.dk and AO.dk Mobile app. Brødrene A & O Johansen A/S was founded in 1914 and is headquartered in Albertslund, Denmark.
Stock analysis
Broedrene A&O Johansen A/S Series B (AOJ-B) currently trades at kr 101.60, while our model-based Fair Value estimate is kr 148.04, implying the stock looks roughly 31.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 176.02 per share, and 17 of the 26 models we run sit above the kr 101.60 price.
Bear case: the Asset-Based group reads lowest at kr 22.03, and 9 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 82.69 (bear) to kr 228.82 (bull), the price of kr 101.60 sits inside 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 57/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Broedrene A&O Johansen A/S Series B reported revenue of 6.1B DKK in FY2025 versus 4.8B DKK in FY2021, a compound +6.3%/yr. Reported net income was 201M DKK in FY2025, compounding −5.7%/yr from FY2021.
Key figures
Market cap 2.8B DKK (≈ $415M) Small · P/E ratio 13.2 · P/S ratio 0.43 · EPS (TTM) kr 7.68 · Dividend yield 3.7% · Net margin 3.3% · Return on equity 13.3% · Return on assets (EBIT) 9.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 24% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −39% fair-value upside, at 46%, AOJ-B screens cheaper than that median.
Fair Value models
Bearkr 82.69Fair Value kr 148.04Bullkr 228.82
Price kr 101.60 · Upside +45.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 3.15 per share) are deliberately not added.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.Coverage ⓘCoverage = 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.77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+12.7%
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.
+4.4%
Revenue growth 5 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.
+8.4%
Start year 2020 (pandemic). Over 10 years: +8.8% a year
Revenue growth 23 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.
+6.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+6.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.9%
Dividend (yield on the price)3.7%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.2.9% vs 15.4%, slowing
Profit margin 2020 to 2025 ⓘ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.6% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+14.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Denmark: IMF forecast 2.1% a year to 2030, 2.0% from 2016 to 2025) that is about +11.8% a year for the price.
Compare Broedrene A&O Johansen A/S Series B with another stock
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.Industrial Distribution · 106 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Below median
Fair Value upside+45.7% · Above median
Profitability
Return on equity (12 months)13.3% · Above median
Return on assets4.9% · Above median
Net margin (12 months)3.3% · Below median
Operating margin (12 months)4.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)11.6% · Above median
Dividend yield (12 months)3.7% · Top 25%
Balance sheet
Debt / equity0.33× · Above median
Valuation Multiplesvs Industrial Distribution median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Broedrene A&O Johansen A/S Series B Fair Value". https://www.fairvalue-calculator.com/stock/AOJ-B
Frequently asked questions
Is Broedrene A&O Johansen A/S Series B (AOJ-B) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of kr 148.04 versus a price of kr 101.60, about +46% upside (undervalued).
What is the fair value of AOJ-B?
Our model-based fair value for Broedrene A&O Johansen A/S Series B is kr 148.04 (as of Oct 2, 2026), built from audited fundamentals. The current price: kr 101.60.
What is the quality score of AOJ-B?
Broedrene A&O Johansen A/S Series B has a Quality Score of 57/100. 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 Broedrene A&O Johansen A/S Series B (AOJ-B)?
Our model-based price target is the fair value of kr 148.04 (as of Oct 2, 2026) from 26 valuation models. Cautious scenario kr 82.69, optimistic scenario kr 228.82. It is a calculation from audited fundamentals, not an analyst target.
What is the Broedrene A&O Johansen A/S Series B stock forecast for 2026?
Our models put fair value at kr 148.04, about +46% upside versus a price of kr 101.60 (undervalued). Cautious scenario kr 82.69, optimistic scenario kr 228.82. The calculation is refreshed regularly with new filings.
What is the revenue of Broedrene A&O Johansen A/S Series B (AOJ-B)?
Broedrene A&O Johansen A/S Series B reported trailing-twelve-month revenue of about 6.4B DKK (latest available figure, as of Oct 2, 2026).
Does Broedrene A&O Johansen A/S Series B pay a dividend?
Broedrene A&O Johansen A/S Series B currently shows a dividend yield of 3.69% relative to its recent price (as of Oct 2, 2026).
What growth is priced into Broedrene A&O Johansen A/S Series B (AOJ-B)?
For today's price to be fair in a discounted-cash-flow model, Broedrene A&O Johansen A/S Series B would have to grow free cash flow by +14.1 % per year for five years (discount rate 11.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.4 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of AOJ-B use?
Our models discount Broedrene A&O Johansen A/S Series B at 11.4 %: a base by market capitalisation (small), damped by beta 1.14, country premium for Denmark. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Broedrene A&O Johansen A/S Series B that is +14.1 % per year a year over ten years, using the same discount rate (11.4 %) and the same formula as our fair value.
How much growth has Broedrene A&O Johansen A/S Series B (AOJ-B) delivered so far?
Over the past 5 years revenue at Broedrene A&O Johansen A/S Series B grew +8.4 % a year. The price currently implies +14.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Broedrene A&O Johansen A/S Series B (AOJ-B) growing?
The median revenue growth in the sector is +7.5 % a year. That is the yardstick for the growth priced into Broedrene A&O Johansen A/S Series B (+14.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Broedrene A&O Johansen A/S Series B (AOJ-B)?
The free-cash-flow yield on the price is 6.43 %: that much free cash flow Broedrene A&O Johansen A/S Series B produces per unit of market value. When it exceeds the discount rate of our models (11.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Broedrene A&O Johansen A/S Series B (AOJ-B)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Broedrene A&O Johansen A/S Series B it is kr 148.04 per share (as of Oct 2, 2026), against a price of kr 101.60. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Broedrene A&O Johansen A/S Series B stock overvalued or undervalued in 2026?
As of Oct 2, 2026, AOJ-B trades below its calculated fair value: price kr 101.60, fair value kr 148.04, a gap of about +46% (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 AOJ-B?
No. The price is what the market pays today (kr 101.60); the fair value is what the company's own numbers justify (kr 148.04). For Broedrene A&O Johansen A/S Series B the two are kr 46.44 per share apart. That gap is exactly why we show both numbers side by side.
How much is Broedrene A&O Johansen A/S Series B worth?
The market values Broedrene A&O Johansen A/S Series B at about 2.8B DKK (market capitalisation, as of Oct 2, 2026). Per share that is kr 101.60; our models calculate a fair value of kr 148.04 per share.
What do the bullish and bearish scenarios say about AOJ-B?
Our models span a range for Broedrene A&O Johansen A/S Series B: cautious scenario kr 82.69, base kr 148.04, optimistic kr 228.82 per share (as of Oct 2, 2026, price kr 101.60). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AOJ-B?
Broedrene A&O Johansen A/S Series B trades at a price-to-earnings ratio of 13.2 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 148.04 is built from several models across several years. Other multiples: P/B 1.7, P/S 0.4, EV/EBITDA 8.7.
How solid is the balance sheet of Broedrene A&O Johansen A/S Series B (AOJ-B)?
Balance-sheet figures for Broedrene A&O Johansen A/S Series B (as of Oct 2, 2026): return on equity 13.3%, debt of 0.33 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is AOJ-B from its 52-week high?
Broedrene A&O Johansen A/S Series B trades at kr 101.60, about 3% below its 52-week high of kr 105.00 and 24% above the low of kr 82.15 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of kr 148.04 is for.
Which stocks are comparable to Broedrene A&O Johansen A/S Series B?
From the same area (Industrials) we also value W.W. Grainger, Inc, Fastenal Company, Ferguson Enterprises Inc, WESCO International, Inc, 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 Broedrene A&O Johansen A/S Series B stock attractive at the current price?
The data as of Oct 2, 2026: price kr 101.60, calculated fair value kr 148.04 (+46%), Quality Score 57/100, from 26 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 AOJ-B calculated?
We run Broedrene A&O Johansen A/S Series B through 26 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 148.04, 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 13.9 % above its aggregate fair value. Broedrene A&O Johansen A/S Series B currently trades 31 % 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 Broedrene A&O Johansen A/S Series B (AOJ-B)?
The closing price on Oct 19, 2026 was kr 101.60. Our model-based fair value is kr 148.04, about +46% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Broedrene A&O Johansen A/S Series B right now?
The model range is unusually wide (kr 82.69 to kr 228.82). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Broedrene A&O Johansen A/S Series B (AOJ-B) come from?
Earnings per share at Broedrene A&O Johansen A/S Series B grew +15.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +15.7 %, EBIT margin +0.5 %, tax rate +0.2 %, residual (interest, one-offs) −0.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Broedrene A&O Johansen A/S Series B
How large is the market capitalisation of Broedrene A&O Johansen A/S Series B (AOJ-B)?
The market capitalisation of Broedrene A&O Johansen A/S Series B is 2.8B DKK (≈ $415M). 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 Broedrene A&O Johansen A/S Series B (AOJ-B)?
The price-to-sales ratio of Broedrene A&O Johansen A/S Series B is 0.43 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Broedrene A&O Johansen A/S Series B (AOJ-B)?
Earnings per share at Broedrene A&O Johansen A/S Series B are kr 7.68 (price ÷ EPS = P/E 13.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Broedrene A&O Johansen A/S Series B (AOJ-B)?
The dividend yield of Broedrene A&O Johansen A/S Series B is 3.7% (payout 48.8%). 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 Broedrene A&O Johansen A/S Series B (AOJ-B)?
The net margin of Broedrene A&O Johansen A/S Series B is 3.3% (last twelve months). 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 Broedrene A&O Johansen A/S Series B (AOJ-B)?
The return on equity (ROE) of Broedrene A&O Johansen A/S Series B is 13.3% (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 Broedrene A&O Johansen A/S Series B (AOJ-B)?
On an EBIT basis the return on assets of Broedrene A&O Johansen A/S Series B is 9.2% (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 Broedrene A&O Johansen A/S Series B (AOJ-B)?
The operating margin of Broedrene A&O Johansen A/S Series B is 4.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Broedrene A&O Johansen A/S Series B (AOJ-B)?
Revenue at Broedrene A&O Johansen A/S Series B is growing +11.6% versus a year earlier (3y avg +4.4%). 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 Broedrene A&O Johansen A/S Series B (AOJ-B)?
Earnings per share at Broedrene A&O Johansen A/S Series B are growing +20.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Broedrene A&O Johansen A/S Series B (AOJ-B) carry?
The net debt of Broedrene A&O Johansen A/S Series B is 1.2B DKK (fiscal year 2025, ≈ 6.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Oct 2, 2026