Per Aarsleff Holding Valuation
Is PAAL B undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
6/6Valuation Score 6/6
Below Future Cash Flow Value
Significantly Below Future Cash Flow Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast
Share Price vs Future Cash Flow Value
What is the Fair Price of PAAL B when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Ultimate guide to DCF valuation for stock investing
Learn how to determine fair value like the best investors in the world.
Below Future Cash Flow Value: PAAL B (DKK658) is trading below our estimate of future cash flow value (DKK1240.68)
Significantly Below Future Cash Flow Value: PAAL B is trading below future cash flow value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for PAAL B?
Key metric: As PAAL B is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is PAAL B's PE Ratio? | |
|---|---|
| PE Ratio | 14.6x |
| Earnings | DKK 907.00m |
| Market Cap | DKK 13.27b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 0.6x |
| Enterprise Value/EBITDA | 7.4x |
| PEG Ratio | 1.1x |
Price to Earnings Ratio vs Peers
How does PAAL B's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 33.9x | ||
MTHH MT Højgaard Holding | 7.4x | 12.36% | DKK 2.2b |
FLS FLSmidth | 19x | 6.95% | DKK 26.3b |
ARE Aecon Group | 83.7x | 61.60% | CA$3.1b |
NKT NKT | 25.7x | 19.78% | DKK 51.5b |
PAAL B Per Aarsleff Holding | 14.6x | 13.36% | DKK 13.3b |
Price-To-Earnings vs Peers: PAAL B is good value based on its Price-To-Earnings Ratio (14.6x) compared to the peer average (33.9x).
Historical Price to Earnings Ratio
Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.
Fetching historical data
Price to Earnings Ratio vs Industry
How does PAAL B's PE Ratio compare vs other companies in the European Construction Industry?
| 4 Companies | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
| 4 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Earnings vs Industry: PAAL B is good value based on its Price-To-Earnings Ratio (14.6x) compared to the European Construction industry average (14.9x).
Price to Earnings Ratio vs Fair Ratio
What is PAAL B's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 14.6x |
| Fair PE Ratio | 15.2x |
Price-To-Earnings vs Fair Ratio: PAAL B is good value based on its Price-To-Earnings Ratio (14.6x) compared to the estimated Fair Price-To-Earnings Ratio (15.2x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | DKK 658.00 | DKK 983.33 +49.44% | 2.40% | DKK 1,000.00 | DKK 950.00 | n/a | 3 |
| Jun ’27 | DKK 703.00 | DKK 983.33 +39.88% | 2.40% | DKK 1,000.00 | DKK 950.00 | n/a | 3 |
| May ’27 | DKK 750.00 | DKK 1,011.67 +34.89% | 3.53% | DKK 1,060.00 | DKK 975.00 | n/a | 3 |
| Apr ’27 | DKK 767.00 | DKK 1,011.67 +31.90% | 3.53% | DKK 1,060.00 | DKK 975.00 | n/a | 3 |
| Mar ’27 | DKK 800.00 | DKK 991.67 +23.96% | 1.19% | DKK 1,000.00 | DKK 975.00 | n/a | 3 |
| Feb ’27 | DKK 899.00 | DKK 898.33 -0.074% | 1.60% | DKK 915.00 | DKK 880.00 | n/a | 3 |
| Jan ’27 | DKK 874.00 | DKK 898.33 +2.78% | 1.60% | DKK 915.00 | DKK 880.00 | n/a | 3 |
| Dec ’26 | DKK 721.00 | DKK 815.00 +13.04% | 1.81% | DKK 835.00 | DKK 800.00 | n/a | 3 |
| Nov ’26 | DKK 736.00 | DKK 798.33 +8.47% | 3.84% | DKK 835.00 | DKK 760.00 | n/a | 3 |
| Oct ’26 | DKK 690.00 | DKK 798.33 +15.70% | 3.84% | DKK 835.00 | DKK 760.00 | n/a | 3 |
| Sep ’26 | DKK 628.00 | DKK 798.33 +27.12% | 3.84% | DKK 835.00 | DKK 760.00 | n/a | 3 |
| Aug ’26 | DKK 698.00 | DKK 755.00 +8.17% | 10.27% | DKK 835.00 | DKK 650.00 | n/a | 3 |
| Jul ’26 | DKK 648.00 | DKK 678.33 +4.68% | 4.01% | DKK 715.00 | DKK 650.00 | n/a | 3 |
| Jun ’26 | DKK 596.00 | DKK 661.67 +11.02% | 7.15% | DKK 715.00 | DKK 600.00 | DKK 703.00 | 3 |
| May ’26 | DKK 534.00 | DKK 630.00 +17.98% | 8.98% | DKK 670.00 | DKK 550.00 | DKK 750.00 | 3 |
| Apr ’26 | DKK 494.00 | DKK 608.33 +23.14% | 8.06% | DKK 670.00 | DKK 550.00 | DKK 767.00 | 3 |
| Mar ’26 | DKK 459.00 | DKK 613.33 +33.62% | 8.32% | DKK 675.00 | DKK 550.00 | DKK 800.00 | 3 |
| Feb ’26 | DKK 463.50 | DKK 613.33 +32.33% | 8.32% | DKK 675.00 | DKK 550.00 | DKK 899.00 | 3 |
| Jan ’26 | DKK 502.00 | DKK 565.00 +12.55% | 3.15% | DKK 590.00 | DKK 550.00 | DKK 874.00 | 3 |
| Dec ’25 | DKK 461.00 | DKK 536.67 +16.41% | 2.45% | DKK 555.00 | DKK 525.00 | DKK 721.00 | 3 |
| Nov ’25 | DKK 410.50 | DKK 524.00 +27.65% | 5.92% | DKK 555.00 | DKK 493.00 | DKK 736.00 | 2 |
| Oct ’25 | DKK 398.50 | DKK 524.00 +31.49% | 5.92% | DKK 555.00 | DKK 493.00 | DKK 690.00 | 2 |
| Sep ’25 | DKK 402.00 | DKK 531.50 +32.21% | 7.24% | DKK 570.00 | DKK 493.00 | DKK 628.00 | 2 |
| Aug ’25 | DKK 392.00 | DKK 491.00 +25.26% | 8.96% | DKK 535.00 | DKK 447.00 | DKK 698.00 | 2 |
| Jul ’25 | DKK 385.00 | DKK 491.00 +27.53% | 8.96% | DKK 535.00 | DKK 447.00 | DKK 648.00 | 2 |
| Jun ’25 | DKK 376.50 | DKK 456.00 +21.12% | 1.97% | DKK 465.00 | DKK 447.00 | DKK 596.00 | 2 |
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
Discover undervalued companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/10 09:46 |
| End of Day Share Price | 2026/06/10 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/09/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Per Aarsleff Holding A/S is covered by 5 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Jonas Hansen | Carnegie Investment Bank AB |
| Anders Preetzmann | Danske Bank |