Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, and Discounted cash flow.
ACCE opinionAmadeus FiRe AG (AAD.DE)
Fair value
Not available
ACCE price target
€17.30
Rating
Not rated
Horizon
12 months
ACCE price target published on 23 Oct 2026, 01:52 CEST.
Price used: €15.14 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow, EV/EBITDA comparison, and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
32
out of 100
1-year return
-71.8%
Dividend yield
0.00%
Amadeus FiRe AG in four questions
Plain answers, details below
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Overview
ACCE thesis
Amadeus FiRe is a German staffing firm placing finance, accounting and IT specialists on temporary and permanent contracts, with a sizeable share of revenue from interim placements. The business earns a 50.2% gross margin, which is healthy for staffing, but operating margin is slightly negative at -1.2% and ROE sits at -1.6%, so the gross profit is not yet covering overhead. Revenue fell 6.8%, and the near-term catalyst is any sign that German white-collar hiring is turning, since placement volumes lead the earnings recovery. At a forward P/E of 8.2 on an 81M EUR market cap, the shares price in a lot of pessimism, but the case rests on whether cost discipline can turn the current small operating loss into a profit before the balance sheet is tested. This is worth a deeper look on the margin and cash-flow trajectory, not on the multiple alone.
⚠ Investor warnings · 4 flagsAI-assisted·How I use AI
severe
Earnings collapse, losses
Earnings fell 89.4% year on year, operating margin is -1.2% and net margin -1.9%, with ROE at -1.6%. The business is losing money at the operating line.
high
Revenue shrinking
Revenue declined 6.8% year on year after a 5-year CAGR of 5.4%, so the trend has reversed sharply.
high
Leverage against thin equity
Debt/Equity stands at 1.11 while the company is loss-making, leaving little cushion if earnings keep falling.
moderate
Trailing P/E not meaningful
Trailing P/E reads 0.0 because earnings are negative, so the Forward P/E of 18.2 rests entirely on recovery forecasts that the recent figures do not yet support.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Free cash flow over the last twelve months is EUR 15M, and the stock's free cash flow yield is 17.9%.
Earnings per share beat expectations, coming in at -0.14 against -0.20 expected, a 30.0% surprise.
Analysts' mean price target is EUR 49.00, which sits 219.8% above the current share price.
Why it could disappoint
Revenue fell 6.8% year over year, well below the 5.4% average annual growth of the past five years.
The company is loss-making, with a net margin of -1.9% and a return on equity of -1.6%.
Debt is 1.11 times equity, and the forward P/E of 18.2x is below the sector median of 22.9x for a reason.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 2, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where AAD.DE's valuation models land
Price
€15.14
Model fair valueConfidence: low
about €99.05
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
P/E comparison
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Analysts
Wall Street consensus
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+Price-target low / average / high vs the current price, with implied upside
+Forward revenue and EPS consensus by fiscal year
+ACCE fair-value models lined up against the Street
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