Alm. Brand ALMB.CO
DenmarkFinancial Services · Insurance - DiversifiedNasdaq Copenhague · DKK
19.67 DKK (+21.4%)
7 analysts
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Alm. Brand A/S is a Danish insurer offering non-life, life, and pension insurance to individuals and businesses, with a business model focused on the Nordic market and a multi-channel distribution network.
Listed on Nasdaq Copenhague · Symbol ALMB.CO · CPH: ALMB · Currency DKK
Key points
from its scores- ✕Weak growth1.9
- ✕Demanding valuation2.3
- ✕Little competitive advantage2.9
AI analysis
bottom line, main risk, context and newsThe forward valuation is attractive but the earnings deterioration and unsustainable payout warrant caution until stabilization is seen.
Alm. Brand shows acceptable financial health (ROE 7.98%) but weak moat quality (operating margin 1.91%) and very negative growth (earnings -90.60%), which weighs on valuation despite a forward P/E of 12.84. The dividend, with a payout of 113.79%, is not covered by earnings.
The main risk is dividend sustainability and operating profitability: with a payout of 113.79% and an operating margin of only 1.91%, any further deterioration in claims or revenue could force a dividend cut or a capital raise.
Context and risks
Alm. Brand operates in the Danish insurance sector, a market with active regulatory oversight (DFSA) and solvency requirements (Solvency II) that condition capital distribution. Governance risk in Denmark is moderate, with solid institutions, limiting the impact to a slight adjustment.
Is Alm. Brand stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 59% above the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 27.9 | 13.7 | +104% |
| EV / EBITDA | 9.9 | 10.1 | −2% |
| Price / book | 2.1 | 1.9 | +14% |
| Price / sales | 1.6 | 3.5 | −54% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 2.3 out of 10 (median for Financial Services: 5.2).
Average analyst target: 19.67 DKK, +21.4% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 2.9 (sector 8.8), Growth 1.9 (sector 6.9).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 27.9
- Forward P/E
- 12.8
- EV / EBITDA
- 9.9
- Price / book
- 2.1
- Price / sales
- 1.6
- Market cap
- 22.0B DKK
- Enterprise value
- 23.7B DKK
Profitability
- ROE
- 8.0%
- ROA
- 3.6%
- ROIC (approx.)
- 2.2%
- Gross margin
- 30.3%
- Operating margin
- 1.9%
- Net margin
- 6.7%
- Free cash flow
- 2.0B DKK
- FCF yield
- 9.2%
- Cash conversion
- 85%
Solvency
- Total debt
- 1.7B DKK
- Net debt
- 1.4B DKK
- Cash
- 266.0M DKK
- EBITDA
- 2.4B DKK
- Net debt / EBITDA
- 0.58
- Debt / equity
- 15.03
- Current ratio
- 5.12
- Quick ratio
- 1.74
Growth
- Revenue growth
- −1.0%
- Earnings growth
- −90.6%
- EPS (TTM)
- 0.58 DKK
- EPS (forward)
- 1.26 DKK
Dividend
- Dividend yield
- 4.1%
- Payout
- 113.8%
Risk and market
- Beta
- 1.06
- Analyst consensus
- Strong buy (7)
- Target price
- 19.67 DKK
- 52-week range
- 14.01 – 19.14
Recent news
All ALMB.CO news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about Alm. Brand
Is Alm. Brand stock cheap or expensive?
On P/E and Price / book, it trades 59% above the Financial Services median on average. Valuation score: 2.3 out of 10 (median for Financial Services: 5.2). Average analyst target: 19.67 DKK, +21.4% versus the price. This is not investment advice.
What score does Alm. Brand get on MeridIAn Screener?
It scores 3.8 out of 10, rank 1,993 of 2,130 (better than 6% of the companies analysed). Its strongest category is Risk & Context (5.9) and its weakest, Growth (1.9). Analysis of 08/10/2026.
What is Alm. Brand's P/E ratio?
Its P/E is 27.9: the share price equals 27.9 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 12.8.
How much is Alm. Brand worth on the stock market?
Its market capitalisation is 22.0B DKK.
Does Alm. Brand pay a dividend?
Yes: its dividend yield is 4.07% and it pays out 114% of its earnings.
How has Alm. Brand stock performed over the last year?
It has fallen 7.0% over the last year, excluding dividends. Over the last 52 weeks it has traded between 14.01 and 19.14 DKK. Past performance does not guarantee future results.
What do analysts think of Alm. Brand?
7 analysts cover it; their average recommendation is “Strong buy” and their average target is 19.67 DKK (+21.4% versus the price). It is an estimate, not market data.