ALUMEXX N.V. (ALX) AI Stock Analysis

• Market Cap: €10.87M
• Dividend Yield: N/A
• Average Volume (3M): 1.27K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.22
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: NL
• Employees: 65
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): N/A
• Shares Outstanding: 7,245,515
• 10 Day Avg. Volume: 544
• 30 Day Avg. Volume: 1,271
• PEG Ratio: -0.05
• Price to Book (P/B): 3.88
• Price to Sales (P/S): 0.49
• P/FCF Ratio: 4.25
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 53 Neutral
• Price Target: €1.50 ▲(8.70% Upside)
• Action: N/A Date: 01/30/26
• Date: Action: N/A 01/30/26

The score is primarily held back by elevated balance-sheet leverage despite improving profitability and cash generation. Technicals add mild support with improving trend and positive MACD, while valuation is a drag due to a negative P/E and no dividend yield data.

Positive Factors

Improved profitability and cash generation

2024's rebound to positive net income with stronger EBITDA/EBIT and materially higher operating/free cash flow indicates the business has regained operating traction. Sustained operating cash conversion supports deleveraging, reinvestment, and long-term viability if management maintains margin discipline.

Stable, high gross margins

Mid-40% gross margins suggest structural pricing power or favorable input/product mix for aluminum access equipment. Persistent gross margins underpin durable EBITDA potential and provide buffer against raw-material swings, supporting consistent operating profitability over the medium term.

Diversified channels and repeat revenue components

A multi-channel distribution model (dealers, retailers, direct) plus consumables and spare-parts sales creates recurring revenue elements and broad market access. This structural mix reduces single-channel exposure and supports steady aftermarket sales and cross-selling over time.

Negative Factors

High financial leverage

Elevated debt relative to equity materially limits financial flexibility and increases default and refinancing risk during cyclicality. Even with improving profits, high leverage constrains capital allocation, raises interest burden sensitivity, and slows the company's ability to invest or absorb shocks long-term.

Thin net margins limit downside cushion

Very low net margins mean small swings in volumes, input costs, or working capital can erode profits quickly. Thin bottom-line returns reduce retained earnings growth, impair the pace of deleveraging and capex funding, and leave limited room for strategic investments without external financing.

Revenue volatility and recent decline

Intermittent top-line performance and a recent revenue decline signal inconsistent demand or execution challenges. Revenue volatility undermines forecasting, compromises steady cash flow generation, and makes it harder to leverage fixed costs and sustain margins as the company scales.

ALUMEXX N.V. Business Overview & Revenue Model

Company Description

Alumexx N.V. manufactures and sells scaffoldings, stairs, ladders, accessories, and spare parts. Its products include indoor, outdoor, and folding scaffoldings, as well as other jetties. The company was formerly known as Phelix N.V. and changed its name to Alumexx N.V. in January 2018. Alumexx N.V. was founded in 1991 and is based in Etten-Leur, the Netherlands.

How the Company Makes Money

ALUMEXX N.V. Financial Statement Overview

Summary

Income statement and cash flow show a meaningful 2024 rebound (positive net income, stronger EBITDA/EBIT margins, and improved operating/free cash flow), but the balance sheet is a major constraint due to very high leverage (debt roughly 3.7x equity) and thin net margins that reduce downside cushion.

Income Statement

Profitability has improved meaningfully versus 2023, returning to positive net income in 2024 and showing stronger operating performance (EBITDA margin ~15.8% and EBIT margin ~7.7%). Gross margin has been relatively steady around the mid-40% range in 2023–2024, which supports earnings resilience. The key weakness is growth volatility: revenue declined in 2024 after growth in 2023, and results over 2020–2022 show a smaller base and uneven scaling, with net margins currently thin (~1.6%) despite better operating leverage.

Balance Sheet

Leverage remains the primary concern. While total debt fell from 2023 to 2024, the capital structure is still highly debt-heavy with debt at roughly 3.7x equity in 2024 (down from ~7.4x in 2023). Equity is relatively small versus the asset base, which reduces balance-sheet flexibility if operating conditions weaken. A positive is that profitability improved in 2024, lifting return on equity to ~13%, but the company’s high leverage keeps risk elevated.

Cash Flow

Cash generation improved substantially in 2024, with operating cash flow (~5.0M) and free cash flow (~4.5M) both materially higher than 2023, indicating better conversion of earnings into cash and improved funding capacity. However, free cash flow declined year over year in 2024 (negative growth), and cash flow performance has been uneven historically (including negative operating and free cash flow in 2021). Overall, current cash flow is supportive, but consistency is not yet proven.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	39.56M	39.15M	34.36M	8.08M	6.66M	4.13M
Gross Profit	6.93M	17.57M	15.16M	2.33M	1.45M	711.00K
EBITDA	4.89M	6.20M	4.61M	320.00K	548.00K	352.00K
Net Income	-397.00K	642.00K	-124.00K	137.00K	332.00K	173.00K
Balance Sheet
Total Assets	35.40M	37.05M	41.05M	3.31M	2.35M	2.07M
Cash, Cash Equivalents and Short-Term Investments	248.00K	125.00K	1.12M	793.00K	333.00K	861.00K
Total Debt	24.61M	18.30M	28.70M	649.00K	97.00K	190.00K
Total Liabilities	30.87M	32.15M	37.15M	1.73M	1.05M	1.10M
Stockholders Equity	4.53M	4.90M	3.90M	1.58M	1.30M	971.00K
Cash Flow
Free Cash Flow	2.87M	4.47M	238.00K	478.00K	-428.00K	628.00K
Operating Cash Flow	3.24M	4.98M	990.00K	478.00K	-428.00K	628.00K
Investing Cash Flow	-230.00K	-462.00K	-14.45M	90.00K	0.00	-50.00K
Financing Cash Flow	-4.21M	-4.28M	12.52M	-108.00K	-100.00K	-75.00K

ALUMEXX N.V. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ALX	53 Neutral	€10.87M	-56.18	-8.74%	―	―	―