Als Ltd (ALQ) Fair Value & Analysis
Industrials · AU · Market cap A$11.1B (≈ $8.0B) · ISIN AU000000ALQ6
What is Als Ltd really worth?
A solid business, but trading 101% above our fair value of A$10.93.
Strengths
Risks
For context
Fair value as of: Sep 5, 2026
From 26 valuation models · updated today
Fair value updated Sep 5, 2026, revised from A$11.02 to A$10.93 (−0.8%) since Aug 13, 2026. Share price +0.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (A$16.48). The favourable scenario is already priced in.
- The model range is unusually wide (A$5.16 to A$16.48). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.
How to read this chart
60‑month range A$9.04 – A$25.77 · fair‑value band A$5.16 – A$16.48 · the A$21.94 price screens above the A$10.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.
Analysis
Als Ltd (ALQ) currently trades at A$21.94, while our model-based Fair Value estimate is A$10.93, implying the stock looks roughly 100.7% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of A$11.25 per share, and 0 of the 26 models we run sit above the A$21.94 price. Bear case: the Asset-Based group reads lowest at A$2.24, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Als Ltd generated revenue of A$3.3B at a net margin of 9.6%. Revenue grew 8.2% year over year. It earns a return on equity of 21.5%. Net debt stands at A$1.4B. Fundamentals as of Sep 5, 2026
Our scenario range runs from A$5.16 (bear case) to A$16.48 (bull case); at A$21.94, the current price sits above 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 about 16% below its 52-week high and 36% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at −2% fair-value upside, at −50%, ALQ screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly A$0.1028 per share, which is 0.9 % 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 (A$11.25) versus Asset-Based (A$2.24). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 51
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
ALS Limited engages in the provision of professional technical services and analytical services primarily in the areas of testing, measurement, and inspection in Africa, Asia Pacific, Europe, the Middle East, North Africa, and the United States. It operates in two segments: Commodities and Life Sciences.
Full company description
ALS Limited engages in the provision of professional technical services and analytical services primarily in the areas of testing, measurement, and inspection in Africa, Asia Pacific, Europe, the Middle East, North Africa, and the United States. It operates in two segments: Commodities and Life Sciences. The Commodities segment offers assaying and analytical testing, and metallurgical services for mining and mineral exploration companies. Its testing and consulting services cover the resource life cycle, including exploration, feasibility, optimization, production, design, development, trade, and rehabilitation. This segment also provides the coal industry, such as sampling, analysis and certification, formation evaluation services, tribology testing services, and related analytical testing. The Life Sciences segment offers analytical testing and sampling, and remote monitoring services for the environmental, food, pharmaceutical, and consumer products markets; and microbiological, physical, and chemical testing services. This segment provides analytical testing data to assist consulting and engineering firms, industries, and governments. ALS Limited was founded in 1863 and is headquartered in Brisbane, Australia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Als Ltd reported revenue of A$3.3B in FY2026 versus A$2.0B in FY2022, a compound +14.2%/yr. Reported net income was A$319M in FY2026, compounding +13.7%/yr from FY2022.
ALQ screens 101% overvalued. Compare with Verisk Analytics, Inc →
Peer Group
Consulting Services · 80 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 Consulting Services 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.
VALUE 0: the price sits above our fair-value range.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Consulting Services stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Verisk Analytics, Inc VRSK | $191.77 | $145.58 | −24% |
| SGS SA SGSN | CHF 94.20 | CHF 68.96 | −27% |
| Equifax Inc EFX | $192.41 | $100.04 | −48% |
| Bureau Veritas SA BVI | €27.74 | €27.81 | +0% |
| Booz Allen Hamilton Holding BAH | $75.38 | $146.45 | +94% |
| DKSH Holding DKSH | CHF 66.30 | CHF 64.81 | −2% |
| FTI Consulting, Inc FCN | $151.36 | $168.44 | +11% |
| Centre Testing International Group 300012 | ¥14.98 | ¥11.90 | −21% |
| GRG Metrology & Test Group 002967 | ¥17.23 | ¥11.69 | −32% |
| Ipsos SA IPS | €38.98 | €83.21 | +113% |
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