Aroundtown SA (AT1) fair value: what the stock is really worth
We calculate from audited financials what Aroundtown SA is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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Real Estate · DE · Market cap €2.2B · ISIN LU1673108939
At a glance
ASAroundtown SAAT1 · XETRA
Price€1.82
Fair Value€4.76
Upside+162.3%
Quality69/100
A solid business, trading 62% below our fair value of €4.76.
As of Sep 6, 2026, the fair value of Aroundtown SA is €4.76 per share against a price of €1.82, so the fair value sits 162% above the price. A model estimate from reported figures, not an analyst target.
!Mixed Growth (revenue 5y +5.5 %/yr)
✓Highly profitable · 45.2% net margin
!High debt · generates free cash flow
·4.41% dividend yield
✓Ranks above peers (10/14)
!Moderate moat 64/100
!Weak on past: 24 out of 100
!Weak on balance sheet: 18 out of 100
Evidence: HighRange €4.28 to €7.74
Fair value as of: Sep 6, 2026
From 14 valuation models · updated 5 days ago
Fair value updated Sep 6, 2026, revised from €4.94 to €4.76 (−3.6%) since Aug 29, 2026. Share price −15.7% over the past month.
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69 individual criteria per stock, every one traceable See the method →
What matters now
The price is below even our cautious bear case (€4.28). The market is more pessimistic than our downside scenario.
Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
A fairly wide model range (€4.28 to €7.74) leaves room in how you read the outcome.
As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 6, 2026.
How to read this chart
60‑month range €0.8736 – €6.27 · fair‑value band €4.28 – €7.74 · the €1.82 price screens below the €4.76 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 6, 2026.
Aroundtown SA (AT1) currently trades at €1.82, while our model-based Fair Value estimate is €4.76, implying the stock looks roughly 61.9% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Real Estate sector. Bull case: the Multiples group reads highest at a median of €9.69 per share, and 13 of the 14 models we run sit above the €1.82 price. Bear case: the Asset-Based group reads lowest at €5.18, and 1 of the 14 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Aroundtown SA generated revenue of €1.6B at a net margin of 45.2%. Revenue declined 1.2% year over year. It earns a return on equity of 6.1%. Net debt stands at €15.5B. Fundamentals as of Sep 6, 2026
Scenario range: €4.28 (bear) to €7.74 (bull), the price of €1.82 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 48% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at −20% fair-value upside, at 162%, AT1 screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (€0.2644 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
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Key figures & financial health
P/E ratio3.9
P/S ratio2.23P/E × margin
EPS (TTM)€0.4600price ÷ EPS = P/E 3.9
Dividend yield4.4%payout 17.4%
Net margin56.5%FY2025
Return on equity6.1%TTM
More key figures
Profitability
Return on assets (EBIT)0.9%avg 5y
Operating margin61.6%TTM
Growth
Revenue (TTM)€1.6BTTM
Revenue growth (YoY)−1.2%3y avg −1.4%
EPS growth (YoY)−74.7%
Balance sheet & cash flow
Free cash flow€559MFY2025
Net debt€15.5BFY2025 · ≈ 27.7 yrs of FCF
Figures from reported company fundamentals · as of Sep 6, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality69/100
Of which business quality 62
· Market factors (momentum, volatility) 19
Profitability37
Margins and returns on capital today
Quality Growth85
Are margins and returns improving?
Cashflow78
Earnings quality: real cash, not paper profit
Fin. Strength23
Balance sheet, leverage, solvency risk
Investment100
Disciplined investing over empire-building
Low Volatility42
Calm price path (market factor)
Momentum14
Price trend over the last 3–12 months (market factor)
52W Momentum0
Distance to the 52-week high (market factor)
Net Issuance83
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
Aroundtown SA, together with its subsidiaries, operates as a real estate company in Germany, the Netherlands, the United Kingdom, Belgium, and internationally. The company operates through Commercial Portfolio and GCP Portfolio segments.
Full company description
Aroundtown SA, together with its subsidiaries, operates as a real estate company in Germany, the Netherlands, the United Kingdom, Belgium, and internationally. The company operates through Commercial Portfolio and GCP Portfolio segments. It invests in commercial real estate properties, including hotel, office, retail, logistics, and other properties, as well as in residential real estate properties. The company also engages in financing activities. Aroundtown SA was incorporated in 2004 and is based in Luxembourg, Luxembourg.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Aroundtown SA reported revenue of €1.5B in FY2025 versus €1.3B in FY2021, a compound +3.9%/yr. Reported net income was €872M in FY2025, compounding −5.2%/yr from FY2021.
Growth Quality 75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€1.5B
Latest YoY
+30.7%
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.
−1.4%
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.
+5.5%
Avg. revenue growth/yr (12Y) ⓘ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.
+19.6%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+1.5%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−2.9%
Dividend yield4.4%
Trend ⓘ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.5Y −2.9% vs 10Y −3.1%, steady
Operating margin (EBIT) ⓘ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.179.0% (2013) → 58.2% (2025) · falling
Worst earnings drop282% (2023) (loss year, drop beyond 100%) · in EUR
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). "Aroundtown SA Fair Value". https://www.fairvalue-calculator.com/stock/AT1
Peer Group
Real Estate Services · 529 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
Quality Score69 · Top 25%
Fair Value upside+160% · Top 25%
Profitability
Return on equity (TTM)6% · Above median
Return on assets2% · Below median
Net margin (TTM)45% · Top 25%
Operating margin (TTM)62% · Top 25%
Growth and dividend
Revenue growth−1% · Below median
Dividend yield (TTM)4.4% · Above median
Balance sheet
Debt / equity1.65× · Highest 25%
Valuation Multiples vs Real Estate Services median · lower = cheaper
P/E (TTM)3.9× · Cheapest 25%
P/B0.32× · Cheapest 25%
P/S (TTM)1.64× · Cheaper than median
P/FCF4.6× · Pricier than median
EV/EBITDA12.7× · Cheaper than median
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must Aroundtown SA deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
Implied FCF growth, 10 years+11.1 % per year
Achieved revenue growth, 5 years+5.5 % p.a.
Sector median revenue growth+1.5 %
FCF yield on price28.10 %
Discount rate (WACC) in the models10.3 %
The price demands an acceleration versus past growth: a high bar the company still has to clear. Ranking of the largest stocks →
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.
This stockSector peers
VALUE100· sector 31
FUTURE0· sector 10
PAST24· sector 17
HEALTH18· sector 83
DIVIDEND88· sector 64
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 Real Estate Services stocks, each showing price versus our Fair Value estimate (as of Sep 6, 2026).
As of Sep 6, 2026, our model estimates a fair value of €4.76 versus a price of €1.82, about +162% upside (undervalued).
What is the fair value of AT1?
Our model-based fair value for Aroundtown SA is €4.76 (as of Sep 6, 2026), built from audited fundamentals. The current price: €1.82.
What is the quality score of AT1?
Aroundtown SA has a Quality Score of 69/100. 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 Aroundtown SA (AT1)?
Our model-based price target is the fair value of €4.76 (as of Sep 6, 2026) from 14 valuation models. Cautious scenario €4.28, optimistic scenario €7.74. It is a calculation from audited fundamentals, not an analyst target.
What is the Aroundtown SA stock forecast for 2026?
Our models put fair value at €4.76, about +162% upside versus a price of €1.82 (undervalued). Cautious scenario €4.28, optimistic scenario €7.74. The calculation is refreshed regularly with new filings.
What is the revenue of Aroundtown SA (AT1)?
Aroundtown SA reported trailing-twelve-month revenue of about €1.6B (latest available figure, as of Sep 6, 2026).
What is the net profit margin of AT1?
The net profit margin of Aroundtown SA is about 45.2%, meaning it keeps roughly 45.2% of revenue as net income. Based on the latest reported figures.
Does Aroundtown SA pay a dividend?
Aroundtown SA currently shows a dividend yield of about 4.41% relative to its recent price (as of Sep 6, 2026).
What growth is priced into Aroundtown SA (AT1)?
For today's price to be fair in a discounted-cash-flow model, Aroundtown SA would have to grow free cash flow by +11.1 % per year for ten years (discount rate 10.3 %, then 2 % perpetual growth). Over the last 5 years revenue grew +5.5 % per year. As of Sep 6, 2026.
What discount rate (WACC) does the fair value of AT1 use?
Our models discount Aroundtown SA at 10.3 %: a base by market capitalisation (mid), damped by beta 1.33, country premium for Germany. The same rate applies in all 26 models.
What is the intrinsic value of Aroundtown SA (AT1)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aroundtown SA it is €4.76 per share (as of Sep 6, 2026), against a price of €1.82. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Aroundtown SA stock overvalued or undervalued in 2026?
As of Sep 6, 2026, AT1 trades below its calculated fair value: price €1.82, fair value €4.76, a gap of about +162% (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 AT1?
No. The price is what the market pays today (€1.82); the fair value is what the company's own numbers justify (€4.76). For Aroundtown SA the two are €2.95 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aroundtown SA worth?
The market values Aroundtown SA at about €2.2B (market capitalisation, as of Sep 6, 2026). Per share that is €1.82; our models calculate a fair value of €4.76 per share.
What do the bullish and bearish scenarios say about AT1?
Our models span a range for Aroundtown SA: cautious scenario €4.28, base €4.76, optimistic €7.74 per share (as of Sep 6, 2026, price €1.82). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AT1?
Aroundtown SA trades at a price-to-earnings ratio of 3.9 (as of Sep 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €4.76 is built from several models across several years. Other multiples: P/B 0.3, P/S 1.6, EV/EBITDA 12.7.
How solid is the balance sheet of Aroundtown SA (AT1)?
Balance-sheet figures for Aroundtown SA (as of Sep 6, 2026): return on equity 6.1%, debt of 1.65 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is AT1 from its 52-week high?
Aroundtown SA trades at €1.82, about 48% below its 52-week high of €3.52 (as of Sep 6, 2026). Distance from the high says nothing about value: that is what the fair value of €4.76 is for.
Which stocks are comparable to Aroundtown SA?
From the same area (Real Estate) we also value CBRE Group, Vonovia SE, Cellnex Telecom, S.A, KE Holdings, 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 Aroundtown SA stock attractive at the current price?
The data as of Sep 6, 2026: price €1.82, calculated fair value €4.76 (+162%), Quality Score 69/100, from 14 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 AT1 calculated?
We run Aroundtown SA through 14 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 €4.76, 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 32.6 % above its aggregate fair value. Aroundtown SA currently trades 162 % 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 <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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