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ALD SA (AYV) Fair Value & Analysis

Industrials · FR · Market cap €9.1B · ISIN FR0013258662

What is ALD SA really worth?

AS ALD SA AYV · PA
Price€11.07
Fair Value€25.90
Upside+134.0%
Quality32/100

Below-average quality, trading 57% below our fair value of €25.90.

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Risks

!Expensive Growth (revenue 5y +20.6 %/yr)
!Thin margins · 4.2% net margin
!High debt · negative free cash flow
!Mixed vs. peers (7/13)
!Narrow moat 41/100
Evidence: High Range €15.01 – €32.38

Fair value as of: Aug 19, 2026

From 16 valuation models · updated 17 days ago

Share price −4.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The large discount to fair value meets weak quality (32/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (€15.01). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (€15.01 to €32.38) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

€12.07 €4.32 Fair Value €25.90 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range €4.32 – €12.07 · fair‑value band €15.01 – €32.38 · the €11.07 price screens below the €25.90 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

ALD SA (AYV) currently trades at €11.07, while our model-based Fair Value estimate is €25.90, implying the stock looks roughly 57.3% undervalued today. The Quality Score stands at 32/100 (below-average quality), in the Industrials sector. Bull case: the Growth Earnings group reads highest at a median of €27.73 per share, and 12 of the 13 models we run sit above the €11.07 price. Bear case: the Asset-Based group reads lowest at €9.42, and 1 of the 13 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, ALD SA generated revenue of €25.0B at a net margin of 4.2%. Revenue declined 1.5% year over year. It earns a return on equity of 9.3%. Net debt stands at €34.3B. Fundamentals as of Aug 19, 2026

Our scenario range runs from €15.01 (bear case) to €32.38 (bull case); at €11.07, the current price sits below 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 8% below its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −19% fair-value upside, at 134%, AYV 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 €0.7512 per share, which is 2.9 % 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.

Model Bear 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
Highest evidence
Residual Income best evidence €11.74 €12.63 €14.17 76
EPV €0.3400 68
ROIC Compounder €0.3400 68
All 16 models by family
Earnings-Based
Graham-Dodd €8.01 €45.31 €62.97 63
Lynch FV €12.72 €18.17 €23.62 61
PEG = 1.0 €12.72 €18.17 €23.62 57
EPV €0.3400 68
Dividend Discount
Gordon GGM €7.07 €14.09 €21.34 67
DDM Multi-Stage €7.07 €12.18 €14.88 67
Multiples
P/E Multiple €19.43 €25.90 €32.38 63
P/S Multiple €15.01 €20.02 €25.02 58
P/B Multiple €15.01 €20.02 €25.02 55
EV/EBIT €13.92 €33.17 €52.42 62
EV/EBITDA €94.93 €141.19 €187.44 66
EV/Revenue €6.37 50
Asset-Based
NCAV (Graham) €7.03 €9.42 €14.05 54
Economic Profit
Residual Income best evidence €11.74 €12.63 €14.17 76
ROIC Compounder €0.3400 68
Growth Earnings
Growth-Adj P/E €19.41 €27.73 €36.05 67

Widest divergence: Growth Earnings (€27.73) versus Asset-Based (€9.42). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 10.0
P/S ratio 0.36 P/E × margin
EPS (TTM) €1.11 price ÷ EPS = P/E 10.0
Dividend yield 7.0% payout 69.4%
Net margin 3.7% FY2025
Return on equity 9.3% TTM
More key figures
Profitability
Return on assets (EBIT) 3.4% avg 5y
Operating margin 12.5% TTM
Growth
Revenue (TTM) €25.0B TTM
Revenue growth (YoY) −1.5% 3y avg +30.4%
EPS growth (YoY) +29.2%
Balance sheet & cash flow
Free cash flow −€6.8B FY2025
Net debt €34.3B FY2025

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 32/100

Of which business quality 32 · Market factors (momentum, volatility) 67

Profitability 24
Margins and returns on capital today
Quality Growth 73
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 6
Balance sheet, leverage, solvency risk
Investment 5
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 41
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

Ayvens provides service leasing and vehicle fleet management services in the France, Rest of Europe, Latin America, Asia, and internationally. Its products and services include full-service leasing, fleet management, mobility solutions, consultancy services, car auctions, and sale or lease back for fleet managers and drivers.

Full company description

Ayvens provides service leasing and vehicle fleet management services in the France, Rest of Europe, Latin America, Asia, and internationally. Its products and services include full-service leasing, fleet management, mobility solutions, consultancy services, car auctions, and sale or lease back for fleet managers and drivers. The company was formerly known as ALD S.A. and changed its name to Ayvens in May 2024. Ayvens was incorporated in 1998 and is headquartered in Puteaux, France. Ayvens operates as a subsidiary of Société Générale Société anonyme.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ALD SA reported revenue of €25.2B in FY2025 versus €10.4B in FY2021, a compound +24.6%/yr. Reported net income was €923M in FY2025, compounding +1.4%/yr from FY2021.

Growth Quality 46/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€25.2B
Latest YoY
−0.6%
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.
+30.4%
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.
+20.6%
Avg. revenue growth/yr (9Y) 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.
+15.6%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+4.2% (−2.8 + 7.0)
Revenue +24.6%/yr
FY21 €10.4B
FY22 €11.4B
FY23 €18.7B
FY24 €25.4B
FY25 €25.2B
Net income +1.4%/yr
FY21 €873M
FY22 €1.2B
FY23 €816M
FY24 €684M
FY25 €923M

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Cite: Fair Value Calculator (2026). "ALD SA Fair Value". https://www.fairvalue-calculator.com/stock/AYV

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Rental & Leasing Services · 90 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.

Quality Score 32 · Bottom 25%
Fair Value upside +134% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 3% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 13% · Above median
Revenue growth −2% · Below median
Dividend yield (TTM) 7.0% · Top 25%
Debt / equity 3.30× · Higher than 75% of peers

Valuation Multiples vs Rental & Leasing Services median · lower = cheaper

P/E (TTM) 10.0× · Cheaper than median
P/B 0.96× · Cheaper than median
P/S (TTM) 0.42× · Cheaper than median
EV/EBITDA 13.6× · Pricier than 75% of peers

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 58
FUTURE0 · sector 30
PAST37 · sector 27
HEALTH0 · sector 67
DIVIDEND100 · sector 47

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 Rental & Leasing Services stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
United Rentals, Inc URI $1,038 $449.86 −57%
Sunbelt Rentals Holdings SUNB $84.80 $65.76 −22%
AerCap Holdings AER $147.49 $301.51 +104%
U-Haul Holding UHAL $68.41 $7.21 −89%
Ryder System, Inc R $243.48 $109.71 −55%
Element Fleet Management Corp EFN C$27.92 C$20.86 −25%
BOC Aviation Limited 2588 HK$75.15 HK$145.91 +94%
GATX Corporation GATX $173.54 $140.90 −19%
Avis Budget Group CAR $139.58 $158.11 +13%
WillScot Holdings WSC $23.76 $43.19 +82%

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Frequently asked questions

Is ALD SA (AYV) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of €25.90 versus a price of €11.07, about +134% upside (undervalued).
What is the fair value of AYV?
Our model-based fair value for ALD SA is €25.90 (as of Aug 19, 2026), built from audited fundamentals. The current price: €11.07.
What is the quality score of AYV?
ALD SA has a Quality Score of 32/100. 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 revenue of ALD SA (AYV)?
ALD SA reported trailing-twelve-month revenue of about €25.0B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of AYV?
The net profit margin of ALD SA is about 4.2%, meaning it keeps roughly 4.2% of revenue as net income. Based on the latest reported figures.
Does ALD SA pay a dividend?
ALD SA currently shows a dividend yield of about 6.95% relative to its recent price (as of Aug 19, 2026).
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