Also trades as: 0NX1.IL (IOB) · $vol 4M · AALBF (OTC) · $vol 0M

€42.62 ($47.98)

-0.02 (-0.05%)

Weekly Expected Move ±3.7%

€40 €41 €43 €44 €46

AMS · Industrials · Industrial - Machinery · Tech Score Buy · Power 58 · €4.6B mcap · 107M float · 0.235% daily turnover

Overview Chart Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ETF Exposure

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Analyst Recommendations

Strong Buy: 0Buy: 0Hold: 1Sell: 0Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$—

Analysts0

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. AALB.AS receives an overall rating of B. Strongest factors: ROA (4/5). Areas of concern: D/E (1/5), P/E (2/5).

Rating Change History

Date	From	To
2026-08-14	B-	B
2026-07-01	B	B-
2026-05-04	B+	B
2026-04-30	B	B+
2026-04-07	None	ADDED
2026-04-07	EXISTED	None
2026-04-01	C+	B
2026-03-20	B-	C+
2026-03-16	C+	B-
2026-03-09	B-	C+

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 47 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. AALB.AS scores highest in Safety (90/100) and lowest in Growth (7/100). An overall grade of A places AALB.AS among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

3.62

Safe Zone

Piotroski F-Score

5/9

✓ ✓ ✗ ✓ ✗ ✗ ✓ ✓ ✗

Beneish M-Score

-3.08

Unlikely Manipulator

Ohlson O-Score

-8.29

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

Score: 72.2/100

Trend: Deteriorating

Earnings Quality

75/100

OCF/NI: 3.22x

Accruals: -12.2%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. AALB.AS scores 3.62, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. AALB.AS scores 5/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. AALB.AS's score of -3.08 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. AALB.AS's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. AALB.AS receives an estimated rating of A (score: 72.2/100), with a deteriorating trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). AALB.AS's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

30.44x

PEG

13.90x

P/S

1.47x

P/B

1.89x

P/FCF

10.82x

P/OCF

5.43x

EV/EBITDA

6.56x

EV/Revenue

0.98x

EV/EBIT

11.99x

EV/FCF

13.57x

Earnings Yield

5.72%

FCF Yield

9.24%

Shareholder Yield

6.76%

Graham Number

$33.50

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 30.4x earnings, AALB.AS commands a growth premium. An earnings yield of 5.7% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $33.50 per share, 27% below the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.666

NI / EBT

Interest Burden

0.821

EBT / EBIT

EBIT Margin

0.081

EBIT / Rev

Asset Turnover

1.235

Rev / Assets

Equity Multiplier

1.774

Assets / Equity

ROE

9.8%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. AALB.AS's ROE of 9.8% is driven by Asset Turnover (1.235), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

$18.94

Price/Value

2.06x

Margin of Safety

-105.78%

Premium

105.78%

Assessment

Neutral

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with AALB.AS's realized 0.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. AALB.AS trades at a 106% premium to its adjusted intrinsic value of $18.94, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 8.5x compares to the current market P/E of 30.4x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$42.62

Median 1Y

$42.34

5th Pctile

$23.99

95th Pctile

$74.89

Ann. Volatility

35.7%

25th–75th percentile 5th–95th percentile Median path Historical

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
ROE	27.8%	28.4%	28.1%	29.2%	29.3%	29.9%	28.1%	25.3%	20.0%	20.8%	24.2%	29.2%	33.1%	32.8%	27.5%	26.6%	20.4%	16.7%	11.0%	9.8%	9.76%
ROA	12.9%	13.1%	13.7%	13.6%	14.7%	14.2%	14.6%	12.6%	10.7%	10.5%	13.4%	14.8%	18.1%	17.5%	16.2%	14.5%	11.7%	9.1%	6.3%	5.5%	5.50%
ROIC	19.0%	19.2%	20.8%	19.9%	19.6%	17.5%	18.3%	16.6%	18.0%	18.0%	16.1%	18.3%	18.9%	19.5%	22.7%	20.8%	18.6%	14.1%	9.9%	9.4%	9.35%
ROCE	25.5%	26.3%	26.5%	28.2%	24.3%	23.8%	22.9%	21.8%	21.2%	21.8%	19.0%	20.7%	24.1%	25.3%	28.0%	27.7%	23.5%	17.3%	13.4%	12.9%	12.87%
Gross Margin	61.8%	63.0%	61.6%	62.8%	62.3%	27.2%	26.0%	24.0%	22.7%	28.0%	25.9%	29.3%	27.7%	29.5%	28.1%	63.8%	24.9%	63.3%	24.3%	65.5%	65.46%
Operating Margin	11.7%	11.1%	10.3%	11.6%	8.8%	11.7%	10.9%	8.1%	10.1%	13.4%	8.5%	13.9%	13.7%	13.7%	14.2%	13.2%	7.4%	11.5%	5.3%	12.1%	12.10%
Net Margin	7.4%	7.3%	7.8%	8.2%	9.1%	8.2%	7.7%	5.0%	4.0%	9.7%	14.6%	9.9%	9.7%	9.3%	9.7%	9.2%	2.0%	7.7%	1.9%	7.8%	7.82%
EBITDA Margin	16.3%	15.9%	14.2%	16.3%	13.4%	17.5%	17.1%	14.9%	14.1%	19.5%	15.9%	19.6%	19.6%	19.4%	20.5%	19.6%	12.7%	17.1%	13.0%	17.9%	17.91%
FCF Margin	7.0%	7.3%	8.1%	6.8%	7.7%	7.0%	7.4%	8.0%	8.8%	10.4%	7.1%	6.3%	2.9%	2.4%	4.6%	5.3%	6.9%	7.6%	6.7%	7.2%	7.20%
OCF Margin	11.0%	11.6%	12.3%	11.0%	12.1%	11.6%	12.5%	13.5%	13.9%	15.2%	12.0%	11.3%	8.7%	9.1%	11.3%	12.4%	14.3%	15.7%	14.8%	14.4%	14.35%
ROE 3Y Avg	snapshot only																				20.38%
ROE 5Y Avg	snapshot only																				22.32%
ROA 3Y Avg	snapshot only																				11.08%
ROIC 3Y Avg	snapshot only																				12.20%
ROIC Economic	snapshot only																				9.19%
Cash ROA	snapshot only																				17.45%
Cash ROIC	snapshot only																				22.25%
CROIC	snapshot only																				11.16%
NOPAT Margin	snapshot only																				6.03%
Pretax Margin	snapshot only																				6.68%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				23.17%
SBC / Revenue	snapshot only																				0.00%

Valuation

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
P/E Ratio	8.90	7.24	11.27	7.90	6.78	6.99	8.02	6.82	10.17	11.83	11.90	6.52	5.40	5.79	6.41	6.46	7.36	8.54	11.42	17.49	30.443
P/S Ratio	0.62	0.52	0.84	0.61	0.55	0.58	0.66	0.51	0.64	0.79	1.02	0.63	0.59	0.62	0.62	0.61	0.56	0.61	0.56	0.78	1.472
P/B Ratio	2.26	1.92	2.93	2.12	1.82	1.90	2.06	1.61	1.97	2.34	2.65	1.72	1.58	1.72	1.65	1.60	1.43	1.41	1.26	1.74	1.894
P/FCF	8.92	7.12	10.36	8.88	7.17	8.38	8.99	6.39	7.27	7.61	14.40	10.12	20.31	25.49	13.41	11.60	8.10	8.07	8.31	10.82	10.821
P/OCF	5.65	4.50	6.80	5.54	4.56	5.00	5.32	3.82	4.62	5.24	8.49	5.61	6.79	6.85	5.49	4.92	3.94	3.89	3.79	5.43	5.427
EV/EBITDA	4.96	4.32	6.12	4.77	4.41	4.85	4.97	4.19	4.70	5.52	6.80	4.26	3.81	3.98	3.57	3.68	3.61	4.47	4.96	6.56	6.556
EV/Revenue	0.76	0.68	0.95	0.75	0.66	0.75	0.80	0.66	0.75	0.91	1.10	0.74	0.71	0.74	0.71	0.73	0.65	0.79	0.76	0.98	0.977
EV/EBIT	7.15	6.15	8.66	6.68	6.29	7.04	7.45	6.73	8.09	9.30	11.97	6.87	5.72	5.93	5.09	5.31	5.61	7.12	9.01	11.99	11.989
EV/FCF	10.98	9.25	11.72	10.92	8.57	10.73	10.83	8.21	8.55	8.74	15.65	11.88	24.55	30.41	15.29	13.77	9.43	10.39	11.35	13.57	13.567
Earnings Yield	11.2%	13.8%	8.9%	12.7%	14.8%	14.3%	12.5%	14.7%	9.8%	8.5%	8.4%	15.3%	18.5%	17.3%	15.6%	15.5%	13.6%	11.7%	8.8%	5.7%	5.72%
FCF Yield	11.2%	14.0%	9.6%	11.3%	14.0%	11.9%	11.1%	15.7%	13.7%	13.1%	6.9%	9.9%	4.9%	3.9%	7.5%	8.6%	12.3%	12.4%	12.0%	9.2%	9.24%
PEG Ratio	snapshot only																				13.902
Price/Tangible Book	snapshot only																				4.922
EV/OCF	snapshot only																				6.804
EV/Gross Profit	snapshot only																				2.327
Acquirers Multiple	snapshot only																				11.157
Shareholder Yield	snapshot only																				6.76%
Graham Number	snapshot only																				$33.50

Leverage & Solvency

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Current Ratio	1.26	1.28	1.31	1.19	1.35	1.21	1.30	1.14	1.14	1.16	1.26	1.39	1.48	1.42	1.60	1.43	1.38	1.65	1.52	1.40	1.403
Quick Ratio	0.57	0.60	0.58	0.55	0.58	0.56	0.55	0.49	0.50	0.59	0.54	0.67	0.57	0.61	0.68	0.61	0.58	0.81	0.79	0.68	0.684
Debt/Equity	0.55	0.60	0.41	0.52	0.39	0.56	0.45	0.49	0.38	0.38	0.26	0.42	0.38	0.36	0.29	0.32	0.27	0.48	0.51	0.51	0.512
Net Debt/Equity	0.52	0.57	0.38	0.49	0.36	0.54	0.42	0.46	0.34	0.35	0.23	0.30	0.33	0.33	0.23	0.30	0.23	0.41	0.46	0.44	0.442
Debt/Assets	0.27	0.28	0.21	0.25	0.20	0.28	0.24	0.25	0.20	0.20	0.16	0.21	0.21	0.20	0.17	0.19	0.16	0.26	0.29	0.28	0.279
Debt/EBITDA	0.99	1.04	0.76	0.95	0.79	1.12	0.91	1.00	0.77	0.79	0.62	0.88	0.75	0.71	0.54	0.63	0.59	1.18	1.47	1.54	1.539
Net Debt/EBITDA	0.93	0.99	0.71	0.89	0.72	1.07	0.84	0.93	0.70	0.72	0.55	0.63	0.66	0.64	0.44	0.58	0.51	1.00	1.33	1.33	1.327
Interest Coverage	—	—	—	—	—	56.29	26.49	15.73	11.24	13.05	14.49	20.00	22.76	17.05	15.10	13.62	10.77	8.90	5.82	4.99	4.990
Equity Multiplier	2.08	2.17	1.95	2.05	1.91	2.05	1.91	1.96	1.83	1.92	1.71	1.98	1.82	1.84	1.68	1.71	1.66	1.84	1.78	1.84	1.839
Cash Ratio	snapshot only																				0.166
Debt Service Coverage	snapshot only																				9.124
Cash to Debt	snapshot only																				0.138
FCF to Debt	snapshot only																				0.314
Defensive Interval	snapshot only																				103.3 days

Efficiency & Turnover

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Asset Turnover	1.85	1.81	1.85	1.77	1.82	1.71	1.76	1.67	1.70	1.56	1.57	1.53	1.66	1.63	1.68	1.53	1.53	1.27	1.29	1.24	1.235
Inventory Turnover	3.77	3.44	3.73	3.42	3.61	4.18	5.27	5.64	7.00	6.39	6.36	5.86	6.12	6.06	6.19	4.78	4.79	3.88	4.34	3.91	3.909
Receivables Turnover	15.03	12.67	14.99	12.11	15.82	12.67	16.19	13.75	16.36	13.09	16.56	14.84	17.63	14.67	17.98	14.45	16.91	12.40	14.96	12.57	12.570
Payables Turnover	8.26	6.64	7.72	5.85	7.40	7.20	10.43	10.57	13.76	10.37	12.90	11.12	13.96	11.16	14.18	9.13	11.09	8.65	10.28	8.45	8.452
DSO	24	29	24	30	23	29	23	27	22	28	22	25	21	25	20	25	22	29	24	29	29.0 days
DIO	97	106	98	107	101	87	69	65	52	57	57	62	60	60	59	76	76	94	84	93	93.4 days
DPO	44	55	47	62	49	51	35	35	27	35	28	33	26	33	26	40	33	42	35	43	43.2 days
Cash Conversion Cycle	77	80	75	75	75	65	57	57	48	50	51	54	54	52	54	62	65	81	73	79	79.2 days
Fixed Asset Turnover	snapshot only																				3.891
Operating Cycle	snapshot only																				122.4 days
Cash Velocity	snapshot only																				31.649
Capital Intensity	snapshot only																				0.823

Growth (YoY)

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue	17.8%	14.6%	11.5%	8.8%	9.1%	7.8%	7.4%	3.2%	-0.0%	0.1%	-0.2%	7.6%	13.9%	16.1%	17.3%	10.8%	4.2%	-13.7%	-16.7%	-17.6%	-17.62%
Net Income	23.7%	24.4%	23.6%	23.0%	27.1%	24.5%	19.8%	1.1%	-22.5%	-19.2%	2.9%	38.4%	97.5%	86.2%	32.6%	8.5%	-26.9%	-42.8%	-57.7%	-61.3%	-61.33%
EPS	8.4%	45.3%	8.0%	22.0%	27.9%	6.7%	37.6%	-13.3%	-12.1%	-19.2%	2.3%	40.1%	96.8%	85.3%	33.4%	8.5%	-26.7%	-42.1%	-57.1%	-60.4%	-60.42%
FCF	37.9%	26.7%	39.4%	2.8%	20.4%	2.2%	-1.7%	21.4%	14.6%	50.5%	-4.7%	-16.4%	-62.4%	-72.8%	-23.2%	-6.4%	1.5%	1.7%	21.6%	12.3%	12.27%
EBITDA	23.9%	22.5%	16.5%	14.0%	5.8%	5.5%	11.9%	4.0%	7.1%	7.7%	0.7%	19.0%	33.3%	31.3%	42.8%	25.5%	1.0%	-19.0%	-35.0%	-37.9%	-37.93%
Op. Income	26.0%	26.2%	20.5%	19.1%	6.9%	3.6%	5.8%	-8.6%	-1.9%	1.7%	-5.8%	25.9%	38.3%	35.4%	60.2%	30.8%	2.1%	-20.1%	-45.2%	-47.4%	-47.37%
OCF Growth	snapshot only																				-5.01%
Asset Growth	snapshot only																				3.30%
Equity Growth	snapshot only																				-3.82%
Debt Growth	snapshot only																				52.41%
Shares Change	snapshot only																				-2.31%
Dividend Growth	snapshot only																				-50.02%

Growth (CAGR)

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue 3Y	17.4%	15.2%	12.9%	12.0%	11.2%	11.2%	11.2%	10.2%	8.7%	7.3%	6.1%	6.5%	7.5%	7.8%	7.9%	7.2%	5.9%	0.1%	-0.8%	-0.6%	-0.60%
Revenue 5Y	14.8%	12.6%	10.6%	10.0%	9.5%	10.8%	12.2%	12.0%	12.0%	10.5%	9.1%	9.3%	9.4%	9.8%	10.0%	9.8%	8.8%	4.4%	3.2%	2.0%	1.98%
EPS 3Y	25.5%	29.5%	11.3%	22.6%	13.3%	19.8%	19.8%	14.6%	6.8%	7.8%	15.0%	14.0%	30.3%	16.9%	23.4%	9.6%	8.3%	-4.7%	-16.3%	-15.6%	-15.57%
EPS 5Y	8.4%	16.8%	7.1%	15.4%	11.5%	20.7%	27.0%	22.9%	17.3%	13.3%	14.2%	17.5%	20.3%	20.8%	18.6%	18.0%	12.0%	6.1%	-2.7%	-8.6%	-8.65%
Net Income 3Y	32.9%	24.1%	17.6%	17.5%	18.3%	20.1%	19.8%	15.0%	6.8%	7.8%	15.1%	19.8%	24.8%	23.2%	17.8%	14.9%	3.8%	-4.9%	-16.7%	-16.6%	-16.58%
Net Income 5Y	14.0%	15.2%	12.0%	13.7%	15.9%	21.7%	28.0%	24.1%	18.2%	14.0%	15.0%	17.8%	20.4%	21.1%	18.6%	18.0%	11.9%	5.9%	-3.1%	-6.3%	-6.31%
EBITDA 3Y	21.7%	20.5%	14.2%	13.9%	11.3%	11.2%	14.2%	12.5%	12.0%	11.6%	9.5%	12.2%	14.7%	14.3%	17.2%	15.8%	13.0%	4.7%	-2.2%	-2.5%	-2.48%
EBITDA 5Y	14.1%	11.2%	10.4%	10.2%	9.7%	12.7%	16.5%	15.4%	15.3%	14.7%	10.9%	12.8%	14.5%	14.2%	16.5%	16.3%	13.6%	8.2%	4.0%	1.9%	1.92%
Gross Profit 3Y	19.0%	16.9%	14.7%	15.6%	16.4%	10.1%	3.5%	-6.9%	-18.9%	-19.8%	-20.9%	-19.4%	-17.7%	-17.2%	-16.7%	-9.8%	-11.4%	-7.0%	-2.8%	5.7%	5.72%
Gross Profit 5Y	14.4%	13.1%	11.8%	11.5%	11.2%	8.8%	6.1%	0.9%	-5.7%	-6.8%	-8.1%	-6.0%	-4.4%	-3.8%	-3.4%	0.5%	-1.5%	-2.7%	-4.4%	-5.5%	-5.51%
Op. Income 3Y	28.2%	24.5%	16.4%	16.3%	12.1%	11.9%	13.3%	9.5%	9.7%	10.0%	6.3%	11.1%	13.2%	12.6%	16.8%	14.6%	11.5%	3.2%	-6.2%	-4.6%	-4.64%
Op. Income 5Y	14.0%	10.5%	10.6%	10.8%	10.1%	14.2%	18.7%	15.9%	17.2%	15.3%	9.4%	12.6%	13.9%	14.0%	17.0%	16.7%	13.3%	7.6%	1.0%	-1.1%	-1.14%
FCF 3Y	9.0%	14.0%	20.9%	17.7%	25.7%	77.6%	27.5%	67.0%	23.9%	24.9%	9.3%	1.4%	-19.7%	-25.2%	-10.4%	-1.7%	2.4%	2.9%	-3.8%	-4.2%	-4.22%
FCF 5Y	5.1%	10.2%	17.2%	19.0%	29.4%	19.8%	16.1%	13.8%	12.3%	17.9%	10.6%	10.6%	-3.1%	18.0%	8.7%	29.5%	12.3%	7.1%	4.1%	1.9%	1.86%
OCF 3Y	12.9%	15.8%	18.7%	14.3%	17.5%	30.9%	18.5%	34.7%	19.0%	21.4%	11.8%	6.6%	-0.6%	-0.6%	4.8%	11.8%	12.0%	10.5%	4.9%	1.5%	1.54%
OCF 5Y	14.9%	15.7%	16.4%	13.0%	14.4%	13.0%	14.2%	14.8%	14.6%	17.0%	11.8%	11.3%	5.9%	15.3%	11.9%	21.9%	15.6%	13.1%	11.0%	7.1%	7.06%
Assets 3Y	17.2%	15.0%	14.6%	14.6%	17.2%	17.2%	20.2%	16.4%	8.4%	10.9%	10.1%	14.2%	13.8%	12.4%	12.4%	11.2%	10.4%	8.5%	7.7%	8.9%	8.89%
Assets 5Y	17.5%	18.7%	15.2%	16.9%	13.1%	15.2%	17.0%	14.8%	12.9%	12.7%	13.6%	15.6%	16.6%	14.8%	15.7%	14.6%	10.6%	10.8%	9.6%	9.1%	9.06%
Equity 3Y	23.3%	21.4%	20.6%	18.8%	19.5%	19.9%	20.2%	18.0%	16.2%	15.9%	19.1%	19.2%	19.1%	18.8%	18.3%	18.1%	15.5%	12.3%	10.2%	11.3%	11.25%
Book Value 3Y	16.5%	26.6%	14.2%	24.0%	14.4%	19.6%	20.3%	17.5%	16.2%	15.9%	19.0%	13.4%	24.3%	12.6%	23.9%	12.6%	20.5%	12.6%	10.8%	12.6%	12.60%
Dividend 3Y	7.4%	8.8%	2.4%	12.6%	3.3%	8.1%	8.4%	-15.6%	8.1%	-17.0%	-0.1%	17.2%	18.2%	33.8%	31.3%	32.3%	4.1%	7.8%	-14.7%	-20.3%	-20.30%

Growth Quality

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue Stability	0.96	0.97	0.96	0.94	0.94	0.99	1.00	0.97	0.95	0.94	0.94	0.97	0.96	0.95	0.94	0.98	0.96	0.58	0.44	0.35	0.349
Earnings Stability	0.72	0.90	0.76	0.81	0.84	0.97	0.98	0.95	0.72	0.78	0.97	0.91	0.67	0.72	0.95	0.95	0.54	0.28	0.05	0.02	0.015
Margin Stability	0.94	0.95	0.95	0.96	0.94	0.93	0.87	0.79	0.70	0.70	0.69	0.66	0.60	0.62	0.63	0.65	0.58	0.63	0.65	0.68	0.678
Rev. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	1.00	0.00	1.00	0.50	1.00	0.50	1.00	1.00	0.00	0.00	0.00	0.000
Earn. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	1.00	1.00	0.50	0.50	1.00	1.00	0.00	0.00	0.00	0.00	0.000
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.91	0.90	0.91	0.91	0.89	0.90	0.92	1.00	0.91	0.92	0.99	0.85	0.50	0.50	0.87	0.97	0.89	0.83	0.50	0.50	0.500
Earnings Smoothness	0.79	0.78	0.79	0.79	0.76	0.78	0.82	0.99	0.75	0.79	0.97	0.68	0.34	0.40	0.72	0.92	0.69	0.45	0.19	0.12	0.115
ROE Trend	-0.01	0.01	0.01	0.01	0.02	0.02	0.00	-0.03	-0.07	-0.07	-0.04	0.01	0.06	0.06	0.02	-0.00	-0.05	-0.08	-0.13	-0.16	-0.156
Gross Margin Trend	0.05	0.04	0.04	0.03	0.01	-0.08	-0.17	-0.27	-0.37	-0.32	-0.28	-0.22	-0.16	-0.11	-0.06	0.06	0.10	0.16	0.15	0.10	0.101
FCF Margin Trend	0.01	0.03	0.02	0.02	0.01	-0.00	0.00	0.01	0.01	0.03	-0.01	-0.01	-0.05	-0.06	-0.03	-0.02	0.01	0.01	0.01	0.01	0.014
Sustainable Growth Rate	19.2%	19.0%	19.2%	19.5%	20.3%	19.8%	18.7%	20.2%	10.0%	15.8%	16.3%	21.3%	20.9%	21.0%	14.2%	8.9%	10.2%	3.6%	3.3%	1.6%	1.58%
Internal Growth Rate	9.7%	9.6%	10.4%	10.0%	11.4%	10.4%	10.7%	11.2%	5.7%	8.7%	10.0%	12.1%	13.0%	12.6%	9.2%	5.1%	6.2%	2.0%	2.0%	0.9%	0.90%

Cash Flow Quality

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
OCF/Net Income	1.58	1.61	1.66	1.43	1.49	1.40	1.51	1.79	2.20	2.26	1.40	1.16	0.80	0.85	1.17	1.31	1.87	2.19	3.02	3.22	3.223
FCF/OCF	0.63	0.63	0.66	0.62	0.64	0.60	0.59	0.60	0.64	0.69	0.59	0.55	0.33	0.27	0.41	0.42	0.49	0.48	0.46	0.50	0.501
FCF/Net Income	snapshot only																				1.616
OCF/EBITDA	snapshot only																				0.964
CapEx/Revenue	4.0%	4.3%	4.2%	4.1%	4.4%	4.7%	5.1%	5.4%	5.1%	4.7%	4.9%	5.0%	5.8%	6.7%	6.7%	7.2%	7.3%	7.2%	7.1%	6.2%	6.23%
CapEx/Depreciation	snapshot only																				0.923
Accruals Ratio	-0.07	-0.08	-0.09	-0.06	-0.07	-0.06	-0.07	-0.10	-0.13	-0.13	-0.05	-0.02	0.04	0.03	-0.03	-0.05	-0.10	-0.11	-0.13	-0.12	-0.122
Sloan Accruals	snapshot only																				-0.092
Cash Flow Adequacy	snapshot only																				1.440
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Dividend Yield	3.5%	4.5%	2.8%	4.2%	4.5%	4.8%	4.2%	2.9%	4.9%	2.0%	2.7%	4.1%	6.8%	6.2%	7.5%	10.3%	6.8%	9.2%	6.1%	4.8%	2.70%
Dividend/Share	$0.86	$1.28	$0.96	$1.42	$1.08	$1.40	$1.40	$0.74	$1.55	$0.80	$1.39	$1.40	$2.24	$2.24	$2.76	$3.74	$2.24	$2.82	$1.71	$1.87	$1.15
Payout Ratio	31.2%	33.0%	31.4%	33.2%	30.7%	33.7%	33.4%	20.0%	50.0%	23.8%	32.4%	27.0%	36.7%	36.0%	48.2%	66.4%	50.1%	78.3%	69.7%	83.9%	83.85%
FCF Payout Ratio	31.2%	32.4%	28.9%	37.3%	32.5%	40.3%	37.4%	18.7%	35.7%	15.3%	39.3%	41.9%	1.4%	1.6%	1.0%	1.2%	55.1%	74.0%	50.7%	51.9%	51.88%
Total Payout Ratio	31.2%	33.0%	31.4%	33.2%	30.7%	33.7%	33.4%	20.0%	50.0%	23.9%	32.4%	27.0%	36.7%	36.0%	48.9%	67.1%	50.9%	86.9%	86.8%	1.2%	1.18%
Div. Increase Streak	1	1	1	1	1	1	1	0	1	0	0	0	1	0	0	1	0	1	0	0	0
Chowder Number	0.50	0.18	0.29	0.30	0.30	0.32	0.31	-0.36	0.31	-0.41	0.03	0.91	0.52	1.87	1.05	1.77	0.06	0.33	-0.33	-0.46	-0.464
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	1.0%	1.5%	2.0%	1.96%
Net Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	1.0%	1.5%	2.0%	1.96%
Total Shareholder Return	3.5%	4.5%	2.8%	4.2%	4.5%	4.8%	4.2%	2.9%	4.9%	2.0%	2.7%	4.1%	6.8%	6.2%	7.6%	10.4%	6.9%	10.2%	7.6%	6.8%	6.76%

DuPont Factors

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Tax Burden (NI/EBT)	0.73	0.73	0.74	0.75	0.76	0.77	0.77	0.77	0.74	0.74	0.73	0.73	0.74	0.74	0.75	0.75	0.72	0.72	0.68	0.67	0.666
Interest Burden (EBT/EBIT)	0.89	0.89	0.92	0.92	1.02	1.03	1.00	1.00	0.91	0.92	1.27	1.23	1.19	1.16	0.93	0.93	0.91	0.90	0.85	0.82	0.821
EBIT Margin	0.11	0.11	0.11	0.11	0.10	0.11	0.11	0.10	0.09	0.10	0.09	0.11	0.12	0.13	0.14	0.14	0.12	0.11	0.08	0.08	0.081
Asset Turnover	1.85	1.81	1.85	1.77	1.82	1.71	1.76	1.67	1.70	1.56	1.57	1.53	1.66	1.63	1.68	1.53	1.53	1.27	1.29	1.24	1.235
Equity Multiplier	2.16	2.18	2.05	2.14	1.99	2.10	1.93	2.00	1.87	1.98	1.80	1.97	1.82	1.87	1.69	1.83	1.74	1.84	1.73	1.77	1.774

Per Share

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
EPS (Diluted TTM)	$2.76	$3.90	$3.05	$4.27	$3.53	$4.16	$4.20	$3.70	$3.10	$3.36	$4.29	$5.19	$6.10	$6.22	$5.73	$5.63	$4.48	$3.60	$2.46	$2.23	$2.23
Book Value/Share	$10.87	$14.68	$11.73	$15.92	$13.16	$15.29	$16.37	$15.68	$16.04	$17.01	$19.28	$19.64	$20.89	$20.97	$22.29	$22.74	$23.01	$21.83	$22.24	$22.39	$22.51
Tangible Book/Share	$1.94	$2.64	$2.86	$4.21	$3.32	$3.83	$4.43	$4.09	$4.69	$5.51	$6.89	$6.09	$6.93	$7.40	$9.21	$9.67	$10.10	$8.45	$7.78	$7.92	$7.92
Revenue/Share	$39.58	$54.07	$41.07	$55.54	$43.44	$49.93	$50.64	$49.15	$49.30	$49.98	$50.26	$53.51	$55.94	$57.74	$59.27	$59.34	$58.53	$50.45	$50.11	$50.04	$28.81
FCF/Share	$2.75	$3.97	$3.31	$3.80	$3.34	$3.47	$3.74	$3.95	$4.34	$5.22	$3.55	$3.35	$1.62	$1.41	$2.74	$3.13	$4.06	$3.81	$3.38	$3.60	$1.77
OCF/Share	$4.35	$6.28	$5.05	$6.09	$5.24	$5.81	$6.33	$6.62	$6.83	$7.58	$6.02	$6.04	$4.86	$5.26	$6.69	$7.39	$8.36	$7.90	$7.41	$7.18	$3.34
Cash/Share	$0.32	$0.44	$0.34	$0.52	$0.43	$0.44	$0.53	$0.53	$0.50	$0.58	$0.65	$2.31	$0.98	$0.67	$1.21	$0.56	$0.81	$1.63	$1.12	$1.58	$1.59
EBITDA/Share	$6.10	$8.50	$6.34	$8.70	$6.49	$7.68	$8.15	$7.75	$7.88	$8.27	$8.16	$9.34	$10.47	$10.81	$11.72	$11.73	$10.61	$8.87	$7.73	$7.45	$7.45
Debt/Share	$6.01	$8.87	$4.83	$8.28	$5.12	$8.62	$7.40	$7.74	$6.03	$6.50	$5.10	$8.20	$7.86	$7.62	$6.35	$7.35	$6.21	$10.47	$11.38	$11.47	$11.47
Net Debt/Share	$5.68	$8.43	$4.49	$7.76	$4.69	$8.18	$6.87	$7.21	$5.53	$5.92	$4.45	$5.89	$6.89	$6.96	$5.14	$6.79	$5.40	$8.84	$10.27	$9.89	$9.89

Academic Models

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3.619
Altman Z-Prime	snapshot only																				5.132
Piotroski F-Score	8	8	7	7	9	6	5	4	4	6	5	8	5	7	8	9	6	6	4	5	5
Beneish M-Score	-2.67	-2.66	-2.84	-2.67	-2.78	-1.90	-1.98	-2.17	-2.09	-3.17	-2.74	-2.38	-2.27	-2.21	-2.48	-3.12	-2.73	-3.01	-3.03	-3.08	-3.078
Ohlson O-Score	snapshot only																				-8.288
ROIC (Greenblatt)	snapshot only																				24.41%
Net-Net WC	snapshot only																				$-5.43
EVA	snapshot only																				$-22497845.77

Credit

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Credit Rating	snapshot only																				A
Credit Score	81.66	76.51	90.73	81.77	91.63	80.48	95.02	89.66	91.14	91.06	91.20	87.30	85.72	82.67	88.92	87.24	90.85	78.62	69.79	72.15	72.153
Credit Grade	snapshot only																				6
Credit Trend	snapshot only																				-15.091
Implied Spread (bps)	snapshot only																				150.000
Industry Credit Rank	snapshot only																				55
Sector Credit Rank	snapshot only																				65

AALB.AS AMS

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

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