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Per Aarsleff Holding (PAAL-B) Fair Value & Analysis

Industrials · DK · Market cap 14.2B DKK

PA Per Aarsleff Holding PAAL-B · CO
Pricekr 742.00
Fair Valuekr 1,052
Upside+41.7%
Quality57/100
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Evidence: High Range kr 788.81 – kr 1,315 📤 Share as image

Fair value as of: Jul 19, 2026

From 26 valuation models · updated 3 days ago

Share price +4.4% over the past month.

Price vs Fair Value (12 months)

kr 901.00 kr 605.79 Fair Value kr 1,052 Jul 2025 Jul 2026

12‑month range kr 605.79 – kr 901.00 · fair‑value band kr 788.81 – kr 1,315 · the kr 742.00 price screens below the kr 1,052 fair value. As of Jul 19, 2026.

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Analysis

Per Aarsleff Holding (PAAL-B) currently trades at kr 742.00, while our model-based Fair Value estimate is kr 1,052, implying the stock looks roughly 41.7% undervalued today. We read business quality at 57/100 (solid quality), in the Industrials 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: high), always confirm before acting.

Over the trailing twelve months, Per Aarsleff Holding generated revenue of 23.3B DKK at a net margin of 3.8%. Revenue grew 11.9% year over year. It earns a return on equity of 16.6%. Net debt stands at 440M DKK. Fundamentals as of Jul 19, 2026

Our scenario range runs from kr 788.81 (bear case) to kr 1,315 (bull case); at kr 742.00, the current price sits below that range. The share trades about 18% below its 52-week high and 28% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -49% fair-value upside, at 42%, PAAL-B screens cheaper than that median.

Key figures & financial health

Revenue (TTM) 24.1B DKK
Revenue growth (YoY) +15.4%
Net margin 3.8%
Return on equity 17.1%
Free cash flow 1.9B DKK FY2025
P/E ratio 15.7
More key figures
Operating margin 4.1%
EPS (TTM) kr 48.04
Dividend yield 1.7%
EPS growth (YoY) +15.6%
Net debt 440M DKK FY2025

Figures from reported company fundamentals (EODHD) · as of Jul 19, 2026. TTM = trailing twelve months.

About the company

Per Aarsleff Holding A/S provides infrastructure and construction services for societies in Denmark and internationally. It operates through Construction, Technical solutions, Rail, Ground Engineering, and Pipe Technologies segments. The company offers infrastructure services, such as roads and traffic facilities; construction of harbours and marine; burial of electrical, copper, and fibre cables; airport facilities; railways; mining; drinking water; geotechnical investigation; and sports field. It is involved in sewer systems, reservoirs, coastal protection, wastewater treatment plants, soil deposits, urban green spaces, waste management, sewer renewal, downpipes, ventilation channels, and CCTV inspection activities; and design, engineering, and installation of wind, combined heat, and power plants, as well as district heating and gas. In addition, the company undertake building construction, renovation, shell structures, technical contracts, construction pits, pile foundation, …

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Per Aarsleff Holding reported revenue of kr 22.6B in FY2025 versus kr 14.6B in FY2021, a compound +11.5%/yr. Reported net income was kr 876M in FY2025, compounding +16.7%/yr from FY2021.

Revenue +11.5%/yr
FY21 kr 14.6B
FY22 kr 18.1B
FY23 kr 20.2B
FY24 kr 21.7B
FY25 kr 22.6B
Net income +16.7%/yr
FY21 kr 472M
FY22 kr 447M
FY23 kr 786M
FY24 kr 806M
FY25 kr 876M

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Cite: Fair Value Calculator (2026). "Per Aarsleff Holding Fair Value". https://www.fairvalue-calculator.com/stock/PAAL-B

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Frequently asked questions

Is Per Aarsleff Holding (PAAL-B) undervalued?
As of Jul 19, 2026, our model estimates a fair value of kr 1,052 versus a price of kr 742.00, about +42% (undervalued). Model-based estimate, not financial advice.
What is the fair value of PAAL-B?
Our model-based fair value for Per Aarsleff Holding is kr 1,052 (as of Jul 19, 2026), built from audited fundamentals. The current price is kr 742.00.
What is the quality score of PAAL-B?
Per Aarsleff Holding has a Quality Score of 57/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Per Aarsleff Holding (PAAL-B)?
Per Aarsleff Holding reported trailing-twelve-month revenue of about 23.3B DKK (latest available figure, as of Jul 19, 2026).
What is the net profit margin of PAAL-B?
The net profit margin of Per Aarsleff Holding is about 3.8%, meaning it keeps roughly 3.8% 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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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.