Brødrene A & O Johansen A/S (AOJ-B) Fair Value & Analysis
Industrials · DK · Market cap 1.9B DKK (≈ $299M) · ISIN DK0061686714
What is Brødrene A & O Johansen A/S really worth?
A solid business, trading 26% below our fair value of kr 141.77.
Strengths
Risks
For context
Fair value as of: Aug 28, 2026
From 26 valuation models · updated 8 days ago
Share price +14.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The model range is unusually wide (kr 77.11 to kr 225.00). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
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 kr 52.04 – kr 108.34 · fair‑value band kr 77.11 – kr 225.00 · the kr 104.40 price screens below the kr 141.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 28, 2026.
Analysis
Brødrene A & O Johansen A/S (AOJ-B) currently trades at kr 104.40, while our model-based Fair Value estimate is kr 141.77, implying the stock looks roughly 26.4% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of kr 176.02 per share, and 15 of the 26 models we run sit above the kr 104.40 price. Bear case: the Dividend Discount group reads lowest at kr 46.72, and 11 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Brødrene A & O Johansen A/S generated revenue of 6.2B DKK at a net margin of 3.3%. Revenue grew 6.5% year over year. It earns a return on equity of 13.1%. Net debt stands at 1.2B DKK. Fundamentals as of Aug 28, 2026
Our scenario range runs from kr 77.11 (bear case) to kr 225.00 (bull case); at kr 104.40, 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 near its 52-week high and 29% 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 36%, AOJ-B screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 2.48 per share, which is 1.7 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
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 26 models by family
Widest divergence: Growth Earnings (kr 176.02) versus Dividend Discount (kr 46.72). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 62
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
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. It operates through two segments: Professional B2B and Private B2C.
Full company description
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. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Brødrene A & O Johansen A/S 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.
of which total revenue +9.0 % · buybacks/dilution +6.1 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Peer Group
Industrial Distribution · 112 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 Industrial Distribution median · lower = cheaper
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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Industrial Distribution stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| W.W. Grainger, Inc GWW | $1,306 | $613.88 | −53% |
| Fastenal Company FAST | $51.14 | $20.64 | −60% |
| Ferguson Enterprises Inc FERG | $245.18 | $148.98 | −39% |
| WESCO International, Inc WCC | $347.60 | $213.01 | −39% |
| Watsco, Inc WSO | $313.05 | $251.37 | −20% |
| Toromont Industries Ltd TIH | C$199.59 | C$127.90 | −36% |
| Applied Industrial Technologies, Inc AIT | $319.11 | $191.65 | −40% |
| Finning International Inc FTT | C$93.86 | C$76.38 | −19% |
| Addtech AB ADDTB | kr 344.00 | kr 156.35 | −55% |
| Core & Main, Inc CNM | $45.45 | $49.47 | +9% |
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Frequently asked questions
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