AEBI
Aebi Schmidt Holding AG
$13.12
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 44.7% above fair value
You pay
$13.12
Bear
$7.25
Fair
$9.06
Bull
$10.88
Bear
$7.25
-44.7%
$0.54 × 13x P/E
Fair
$9.06
-30.9%
$0.54 × 17x P/E
Bull
$10.88
-17.1%
$0.54 × 20x P/E
Key Value Driver
Normalized P/E multiple (17x base case)
Implied Market Multiple
24.1x
Summary
Applying a 17x P/E to adjusted EPS of $0.54, the base-case value is $9.06 per share.
Warnings
The company's reported profits differ from official accounting profits by 220%. Check what costs are being left out of the adjusted number.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples