ALFEN Stock Analysis: Alfen Beheer BV | AS
Electrical Equipment & Parts | AS, Netherlands | Market Cap: 345m EUR | 12M Return: 51.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.60M
Warnings
No concerns identified
Tailwinds
Seasonality 8.3 years of data
Average return per month, with how dependable it is below — did the month move the same way every year (high) or randomly (low). Above 60 is a pattern worth trusting; under 40 is noise.
Alfen N.V. is a Netherlands-based industrial technology company that designs, engineers, produces, and services smart grid solutions, energy storage systems, and electric vehicle (EV) charging equipment, primarily operating in the Netherlands, Finland, and Belgium. Its product portfolio includes in-house manufactured secondary substations and microgrids for grid operators, solutions to connect PV farms, EV fast-charging hubs, and industrial sites to the grid, as well as smart EV chargers for home, retail, workplace, and public use. The company also offers stationary and mobile battery energy storage systems used for load balancing, peak shaving, grid frequency control, and energy trading. Founded in 1937 and headquartered in Almere, Alfen sits within the Heavy Electrical Equipment sub-industry, benefiting from the structural tailwinds of grid modernization, renewable energy integration, and the build-out of EV charging infrastructure across Europe.
- European EV charging revenue tracks slow adoption pace
- Energy storage orders surge on grid balancing demand
- Dutch utility substation backlog supports near-term revenue
| Net Income: -189k TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA -2.30 > 1.0 |
| NWC/Revenue: 22.75% < 20% (prev 20.79%; Δ 1.96% < -1%) |
| CFO/TA 0.10 > 3% & CFO 32.5m > Net Income -189k |
| Net Debt (60.0m) to EBITDA (25.3m): 2.37 < 3 |
| Current Ratio: 1.93 > 1.5 & < 3 |
| Outstanding Shares: last quarter (21.7m) vs 12m ago -0.16% < -2% |
| Gross Margin: 17.57% > 18% (prev 10.87%; Δ 6.70% > 0.5%) |
| Asset Turnover: 129.0% > 50% (prev 134.4%; Δ -5.41% > 0%) |
| Interest Coverage Ratio: 1.20 > 6 (EBIT TTM 3.11m / Interest Expense TTM 2.59m) |
| A: 0.32 (Total Current Assets 205.2m - Total Current Liabilities 106.1m) / Total Assets 312.5m |
| B: 0.33 (Retained Earnings 102.5m / Total Assets 312.5m) |
| C: 0.01 (EBIT TTM 3.11m / Avg Total Assets 337.6m) |
| D: 0.96 (Book Value of Equity 152.8m / Total Liabilities 159.8m) |
| Altman-Z'' = 4.22 = AA |
| DSRI: 0.83 (Receivables 95.1m/127.6m, Revenue 435.6m/487.6m) |
| GMI: 0.62 (GM 10.87% / 17.57%) |
| AQI: 1.40 (AQ_t 0.11 / AQ_t-1 0.08) |
| SGI: 0.89 (Revenue 435.6m / 487.6m) |
| TATA: -0.10 (NI -189k - CFO 32.5m) / TA 312.5m) |
| Beneish M = -3.36 (Cap -4..+1) = AA |
As of July 01, 2026, the stock is trading at EUR 15.72 with a total of 417,636 shares traded. Over the past week, the price has changed by -2.78%, over one month by -3.38%, over three months by +72.37% and over the past year by +51.15%.
Current recommended Stop Loss: 14.80 (which is 5.9% or 1.1 ATR below the current price).
Alfen Beheer BV has no consensus analysts rating.
P/E Forward = 90.0901
P/S = 0.7921
P/B = 2.3015
Revenue TTM = 435.6m EUR
EBIT TTM = 3.11m EUR
EBITDA TTM = 25.3m EUR
Long Term Debt = 4.24m EUR (from longTermDebt, last quarter)
Short Term Debt = 8.81m EUR (from shortTermDebt, last quarter)
Debt = 86.6m EUR (from shortLongTermDebtTotal, last quarter) + Leases 39.3m
Net Debt = 60.0m EUR (calculated: Debt 86.6m - CCE 26.7m)
Enterprise Value = 405.0m EUR (345.1m + Debt 86.6m - CCE 26.7m)
Interest Coverage Ratio = 1.20 (Ebit TTM 3.11m / Interest Expense TTM 2.59m)
EV/FCF = 13.96x (Enterprise Value 405.0m / FCF TTM 29.0m)
FCF Yield = 7.16% (FCF TTM 29.0m / Enterprise Value 405.0m)
FCF Margin = 6.66% (FCF TTM 29.0m / Revenue TTM 435.6m)
Net Margin = -0.04% (Net Income TTM -189k / Revenue TTM 435.6m)
Gross Margin = 17.57% ((Revenue TTM 435.6m - Cost of Revenue TTM 359.1m) / Revenue TTM)
Gross Margin QoQ = 6.66% (prev 29.13%)
Tobins Q-Ratio = 1.30 (Enterprise Value 405.0m / Total Assets 312.5m)
Interest Expense / Debt = 2.99% (Interest Expense 2.59m / Debt 86.6m)
Taxrate = 32.57% (538k / 1.65m)
NOPAT = 2.10m (EBIT 3.11m * (1 - 32.57%))
Current Ratio = 1.93 (Total Current Assets 205.2m / Total Current Liabilities 106.1m)
Debt / Equity = 0.57 (Debt 86.6m / totalStockholderEquity, last quarter 152.8m)
Debt / EBITDA = 2.37 (Net Debt 60.0m / EBITDA 25.3m)
Debt / FCF = 2.07 (Net Debt 60.0m / FCF TTM 29.0m)
Total Stockholder Equity = 156.1m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.06% (Net Income -189k / Total Assets 312.5m)
RoE = -0.12% (Net Income TTM -189k / Total Stockholder Equity 156.1m)
RoCE = 1.94% (EBIT 3.11m / Capital Employed (Equity 156.1m + L.T.Debt 4.24m))
RoIC = 1.08% (NOPAT 2.10m / Invested Capital 193.4m)
WACC = 6.86% (E(345.1m)/V(431.7m) * Re(8.08%) + D(86.6m)/V(431.7m) * Rd(2.99%) * (1-Tc(0.33)))
Discount Rate = 8.08% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -46.67 | Cagr: -0.05%
[DCF] Terminal Value 73.10% ; FCFF base≈34.2m ; Y1≈30.0m ; Y5≈24.2m
[DCF] Fair Price = 15.14 (EV 389.1m - Net Debt 60.0m = Equity 329.1m / Shares 21.7m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: -48.46 | Revenue CAGR: -3.65% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=0.21 | Chg30d=+17.67% | Revisions=+33% | GrowthEPS=+39.3% | GrowthRev=+3.6%
EPS next Year (2027-12-31): EPS=0.34 | Chg30d=+11.20% | Revisions=+33% | GrowthEPS=+64.5% | GrowthRev=+7.5%
[Analyst] Revisions Ratio: +33%