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AMADEUS FIRE
(XETRA:AAD)
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Rating:49Neutral
Price Target:
€21.50
▼(-43.79% Downside)
Action:Reiterated
Date:05/09/26
The score is primarily held down by deteriorated profitability (losses) and higher leverage versus prior years, partially offset by still-positive (though declining) free cash flow. Technicals are neutral-to-weak with the stock far below longer-term moving averages, while valuation is mixed: negative P/E but a very high dividend yield.
Positive Factors
Strong cash generation
AMADEUS FIRE continues to generate positive operating and free cash flow despite accounting losses; this persistent cash conversion funds payroll, working capital and reinvestment without immediate reliance on new equity. That cash buffer supports operational continuity and strategic flexibility over the next several months.
Negative Factors
Deteriorated profitability
The shift from multi-year profitability to consecutive losses materially weakens internal capital generation and return metrics. Lower net and EBIT margins indicate structural pressure on pricing, utilization or costs, which can erode competitive reinvestment capacity and shareholder returns over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
AMADEUS FIRE continues to generate positive operating and free cash flow despite accounting losses; this persistent cash conversion funds payroll, working capital and reinvestment without immediate reliance on new equity. That cash buffer supports operational continuity and strategic flexibility over the next several months.
Read all positive factors
AMADEUS FIRE (AAD) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€119.51M
Dividend Yield18.32%
Average Volume (3M)13.39K
Price to Earnings (P/E)―
Beta (1Y)0.78
Revenue Growth-15.58%
EPS Growth-117.28%
CountryDE
Employees3,690
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)-0.78
Shares Outstanding5,432,157
10 Day Avg. Volume12,960
30 Day Avg. Volume13,393
Financial Highlights & Ratios
PEG Ratio0.92
Price to Book (P/B)1.82
Price to Sales (P/S)0.65
P/FCF Ratio15.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€72.00Price Target Upside88.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.26
Revenue Forecast (FY)€372.75M
AMADEUS FIRE Business Overview & Revenue Model
Company Description
Established in 1986 and headquartered in Frankfurt am Main, Germany, Amadeus FiRe AG specializes in delivering comprehensive human resources and professional development services. The company operates through two primary divisions: Staffing Soluti...
How the Company Makes Money
AMADEUS FIRE generates revenue mainly from two operating segments: (1) Personnel Services and (2) Training.
1) Personnel Services (staffing and recruitment):
- Temporary staffing / employee leasing (Zeitarbeit/Arbeitnehmerüberlassung): The compan...
AMADEUS FIRE Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
52
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 354.80M | 363.60M | 436.91M | 442.36M | 407.07M | 372.37M |
| Gross Profit | 180.19M | 165.74M | 236.42M | 243.38M | 216.39M | 199.63M |
| EBITDA | 41.60M | 42.98M | 83.63M | 94.67M | 91.90M | 83.14M |
| Net Income | -4.24M | -2.40M | 32.63M | 40.44M | 38.39M | 34.05M |
Balance Sheet | ||||||
| Total Assets | 363.59M | 373.88M | 330.12M | 359.05M | 336.13M | 343.89M |
| Cash, Cash Equivalents and Short-Term Investments | 2.88M | 3.70M | 2.37M | 9.89M | 5.70M | 11.59M |
| Total Debt | 148.46M | 144.10M | 88.67M | 91.47M | 79.76M | 121.36M |
| Total Liabilities | 233.51M | 242.96M | 175.14M | 207.54M | 167.71M | 203.56M |
| Stockholders Equity | 129.12M | 129.99M | 154.28M | 148.83M | 166.34M | 138.50M |
Cash Flow | ||||||
| Free Cash Flow | 12.72M | 15.27M | 45.24M | 74.42M | 76.99M | 68.43M |
| Operating Cash Flow | 24.92M | 26.75M | 52.98M | 83.14M | 83.89M | 75.92M |
| Investing Cash Flow | -40.83M | -39.89M | -7.68M | -8.67M | -6.30M | -7.38M |
| Financing Cash Flow | 8.36M | 14.46M | -52.81M | -70.28M | -83.48M | -86.95M |
AMADEUS FIRE Technical Analysis
Positive
38.25
Price Trends
22.15
Positive
23.31
Positive
33.51
Negative
Market Momentum
0.26
Negative
68.27
Neutral
90.40
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:AAD, the sentiment is Positive. The current price of 38.25 is above the 20-day moving average (MA) of 20.87, above the 50-day MA of 22.15, and above the 200-day MA of 33.51, indicating a neutral trend. The MACD of 0.26 indicates Negative momentum. The RSI at 68.27 is Neutral, neither overbought nor oversold. The STOCH value of 90.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:AAD.
AMADEUS FIRE Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €1.13B | 23.05 | 58.60% | 1.88% | 10.92% | 6.42% | |
69 Neutral | €192.65M | 9.48 | 14.30% | 2.51% | -11.57% | 191.97% | |
69 Neutral | €3.89B | 16.43 | 11.74% | 1.62% | 4.04% | 4.21% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | €335.79M | 60.18 | 5.09% | 3.99% | -3.10% | -65.33% | |
56 Neutral | €362.32M | 14.52 | 12.82% | 0.85% | 13.29% | 214.17% | |
49 Neutral | €119.51M | -31.92 | -3.23% | 9.71% | -15.58% | -117.28% |
* Industrials Sector Average
DE:AAD
AMADEUS FIRE
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.