Aalberts Industries N.V. (AALB) AI Stock Analysis

• Market Cap: €3.64B
• Dividend Yield: 4.08%
• Average Volume (3M): 292.74K
• Price to Earnings (P/E): 20.5
• Beta (1Y): 1.29
• Revenue Growth: -4.31%
• EPS Growth: -50.34%
• Country: NL
• Employees: 13,124
• Sector: General
• Sector Strength: N/A
• Industry: Industrial - Machinery
• EPS (TTM): 1.25
• Shares Outstanding: 108,035,680
• 10 Day Avg. Volume: 302,038
• 30 Day Avg. Volume: 292,741
• PEG Ratio: -1.33
• Price to Book (P/B): 1.26
• Price to Sales (P/S): 0.99
• P/FCF Ratio: 17.85
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €43.33
• Price Target Upside: 28.50% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 2.74
• Revenue Forecast (FY): €2.99B

• Rating: 62 Neutral
• Price Target: €37.00 ▲(9.73% Upside)
• Action: Reiterated Date: 02/28/26
• Date: Action: Reiterated 02/28/26

The score is held back primarily by softer financial quality—margin compression, increased leverage, and only moderate/volatile cash conversion—despite a strong 2025 revenue rebound. Technicals are a clear positive with an upward trend and supportive momentum, while valuation is mixed: a solid dividend yield but a relatively high P/E.

Positive Factors

Diversified Industrial Portfolio

Aalberts’ multi-segment model spreads revenue across Industrial Services, Building Solutions and Flow Control, reducing single-market risk. This structural diversification supports resilience to sector-specific cycles, steadier backlog from projects/contracts and cross-selling of engineered solutions over time.

Resilient Revenue Rebound

A 33.9% revenue rebound in 2025 signals durable recovery in end-market demand or successful commercial execution. Sustained top-line growth enhances scale economics, funds R&D and capex, and is a structural basis for regaining market share if accompanied by disciplined margin restoration.

Substantial Equity Capital Base

A sizeable equity base provides a long-term capital buffer to absorb cyclical stress and support investment. This balance-sheet strength helps fund multi-year projects, underwrite acquisitions or R&D, and sustains customer and supplier confidence during industry cycles.

Negative Factors

Margin Erosion

A material decline in net and operating margins indicates weaker profitability quality and structural pressure on pricing or cost control. Persistently lower margins reduce free cash flow and returns on invested capital, limiting ability to fund growth or maintain shareholder returns sustainably.

Rising Leverage

The shift to higher leverage raises the firm's financial risk profile and reduces flexibility for strategic investments. Greater debt servicing obligations can constrain capital allocation, increase vulnerability to rate moves, and limit ability to pursue opportunistic M&A or absorb shocks.

Weakened Cash Conversion

Inconsistent and weakening cash conversion undermines the reliability of internally generated funds for dividends, debt paydown and capex. Structural variability in FCF increases reliance on external financing and reduces predictability of shareholder returns over multi-quarter horizons.

Aalberts Industries N.V. Business Overview & Revenue Model

Company Description

Aalberts N.V. engineers mission-critical technologies. The company operates in two segments: Building Technology and Industrial Technology. The Building Technology segment develops, manufactures, and monitors hydronic flow control systems for heating and cooling to enhance the energy efficiency; and develops, designs, and manufactures integrated piping systems to distribute and regulate water or gas flows in heating, cooling, water, gas, and sprinkler systems in eco-friendly buildings and industrial niches. The Industrial Technology segment co-develops, engineers, and manufactures advanced mechatronics and technologies to regulate, measure, and control fluids under severe and critical conditions for active OEMs in semicon efficiency, sustainable transportation, and industrial niches; and offers a range of surface technologies utilizing a network of service locations local knowledge to customers active in sustainable transportation and industrial niches. It operates in Western Europe, the United States, Russia, Eastern Europe, the Asia-Pacific, the Middle East, and Africa. The company was formerly known as Aalberts Industries N.V. and changed its name to Aalberts N.V. in April 2019. Aalberts N.V. was founded in 1975 and is headquartered in Utrecht, the Netherlands.

How the Company Makes Money

Aalberts generates revenue through multiple key streams, primarily by selling its engineered products and systems to a diverse range of industries. The company leverages a robust business model that includes direct sales, long-term contracts, and project-based engagements. Key revenue sources include the provision of advanced flow control solutions, which cater to industries such as oil and gas, water management, and HVAC. Additionally, Aalberts earns income from its building solutions segment, which focuses on high-performance products for residential and commercial construction. Significant partnerships with major corporations and ongoing investments in research and development also contribute to its competitive edge and revenue growth.

Aalberts Industries N.V. Financial Statement Overview

Summary

Strong 2025 revenue growth (+33.9%) is offset by weaker profitability (net margin down to 4.8% in 2025 from 9.5% in 2023), higher leverage (debt-to-equity up to 0.51), and only moderate/volatile cash conversion (FCF down 14.1% in 2025; FCF ~46% of net income).

Income Statement

Revenue has grown meaningfully versus 2024 (2025 revenue growth of 33.9%), but profitability has trended weaker versus the 2021–2023 period. Net margin declined to 4.8% in 2025 from 5.7% in 2024 and 9.5% in 2023, with operating margin also down to 8.4% in 2025 (from 13.8% in 2023). Overall, the business shows solid scale and a rebound in top-line growth, but the recent step-down in margins and earnings reduces the quality of the growth.

Balance Sheet

Leverage increased notably in 2025, with debt-to-equity rising to 0.51 versus 0.27–0.38 in 2020–2024, indicating a more debt-funded posture. Returns to shareholders have also cooled, with return on equity at 6.1% in 2025 versus 12.8% in 2023 and 16.8% in 2021. Equity remains substantial (2025 equity of 2.42B vs 2025 assets of 4.32B), but the direction of higher leverage and lower returns is a key watch item.

Cash Flow

Cash generation is positive but has weakened versus the stronger 2023 profile. Free cash flow fell 14.1% in 2025 and is modest relative to earnings (free cash flow at ~46% of net income in 2025; ~39% in 2024), while operating cash flow relative to net income is also moderate (~0.43x in both 2024 and 2025). The company remains cash-flow positive, but conversion has been inconsistent over time (notably weak in 2022), which lowers confidence in near-term cash durability.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.09B	3.15B	3.32B	3.23B	2.98B
Gross Profit	801.60M	1.70B	1.75B	633.60M	607.90M
EBITDA	486.40M	511.10M	657.50M	633.30M	685.60M
Net Income	149.00M	179.10M	315.80M	317.30M	360.10M
Balance Sheet
Total Assets	4.32B	4.23B	4.14B	4.21B	3.66B
Cash, Cash Equivalents and Short-Term Investments	121.60M	89.80M	134.20M	108.60M	72.00M
Total Debt	1.24B	686.60M	702.60M	872.80M	567.20M
Total Liabilities	1.90B	1.62B	1.62B	1.85B	1.47B
Stockholders Equity	2.42B	2.54B	2.47B	2.32B	2.14B
Cash Flow
Free Cash Flow	171.20M	169.80M	257.50M	45.30M	134.90M
Operating Cash Flow	374.90M	432.70M	492.10M	247.30M	291.70M
Investing Cash Flow	-510.50M	-228.40M	-132.60M	-311.70M	-47.40M
Financing Cash Flow	183.80M	-253.20M	-213.30M	22.90M	-265.80M

Aalberts Industries N.V. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 33.72
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NL:AALB, the sentiment is Neutral. The current price of 33.72 is below the 20-day moving average (MA) of 34.64, above the 50-day MA of 31.82, and above the 200-day MA of 29.78, indicating a neutral trend. The MACD of 0.60 indicates Positive momentum. The RSI at 50.31 is Neutral, neither overbought nor oversold. The STOCH value of 43.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for NL:AALB.

Aalberts Industries N.V. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HEIJM	77 Outperform	€2.36B	14.29	25.34%	2.44%	11.67%	36.03%
VPK	75 Outperform	€4.97B	7.24	15.92%	4.27%	-3.32%	15.52%
BAMNB	74 Outperform	€2.46B	11.48	11.89%	2.69%	3.64%	-22.13%
ARCAD	66 Neutral	€2.49B	15.23	21.45%	2.85%	-2.02%	24.14%
AALB	62 Neutral	€3.64B	20.51	6.13%	4.08%	-4.31%	-50.34%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
FUR	55 Neutral	€1.17B	-47.40	9.91%	8.99%	-7.57%	-51.86%