View ValuationAllgeier 将来の成長Future 基準チェック /46Allgeier利益と収益がそれぞれ年間41.5%と7.6%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に5.8% 39.7%なると予測されています。主要情報41.5%収益成長率39.66%EPS成長率IT 収益成長15.9%収益成長率7.6%将来の株主資本利益率5.82%アナリストカバレッジLow最終更新日19 Aug 2026今後の成長に関する最新情報お知らせ • Mar 29Allgeier Se Confirms Earnings Guidance for the Year 2026Allgeier SE confirms earnings guidance for the year 2026. For the period, the company expects revenue in the range of EUR 350 to 390 million for continuing operations.お知らせ • Dec 20Allgeier SE Provides Earnings Guidance for the Fiscal Year 2025 and 2026Allgeier SE provided earnings guidance for the fiscal year 2025 and 2026. Following the sale of Allgeier IT Services GmbH, Munich, Allgeier expects consolidated revenue from continuing operations for the full year 2025 to be between EUR 340 million and EUR 350 million (previous year: EUR 355 million). For the year 2026, the company expects revenue in the range of €370 to €420 million for the coming 2026 fiscal year for continuing operations, in accordance with the Group planning adopted.お知らせ • Aug 24Allgeier SE Refrains from Issuing Guidance for the Remaining Fiscal Year 2020Allgeier SE announced that due to the continuing uncertainty about the possible consequences of the global COVID-19 pandemic on the global economy, the Management Board continues to refrain from issuing guidance for the remaining fiscal year 2020 at this time.すべての更新を表示Recent updatesReported Earnings • Aug 18Second quarter 2026 earnings released: €0.097 loss per share (vs €0.099 loss in 2Q 2025)Second quarter 2026 results: €0.097 loss per share (improved from €0.099 loss in 2Q 2025). Revenue: €81.9m (up 9.4% from 2Q 2025). Net loss: €1.07m (loss narrowed 6.3% from 2Q 2025). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Jun 25Upcoming dividend of €1.00 per shareEligible shareholders must have bought the stock before 01 July 2026. Payment date: 03 July 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.4%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.4%).お知らせ • May 22Allgeier SE, Annual General Meeting, Jun 30, 2026Allgeier SE, Annual General Meeting, Jun 30, 2026, at 09:00 W. Europe Standard Time.Declared Dividend • May 20Dividend increased to €1.00Dividend of €1.00 is 100% higher than last year. Ex-date: 1st July 2026 Payment date: 3rd July 2026 Dividend yield will be 5.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (323% earnings payout ratio). However, it is well covered by cash flows (25% cash payout ratio). The dividend has not increased over the past 8 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 259% to bring the payout ratio under control. EPS is expected to grow by 102% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.お知らせ • May 14Allgeier SE announces Annual dividend, payable on July 03, 2026Allgeier SE announced Annual dividend of EUR 1.0000 per share payable on July 03, 2026, ex-date on July 01, 2026 and record date on July 02, 2026.お知らせ • Mar 29Allgeier Se Confirms Earnings Guidance for the Year 2026Allgeier SE confirms earnings guidance for the year 2026. For the period, the company expects revenue in the range of EUR 350 to 390 million for continuing operations.お知らせ • Jan 30+ 3 more updatesAllgeier SE to Report Fiscal Year 2025 Results on Mar 31, 2026Allgeier SE announced that they will report fiscal year 2025 results on Mar 31, 2026Buy Or Sell Opportunity • Jan 12Now 25% overvalued after recent price riseOver the last 90 days, the stock has risen 39% to €23.20. The fair value is estimated to be €18.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has declined by 46%. Revenue is forecast to decline by 2.8% in 2 years. Earnings are forecast to grow by 1,678% in the next 2 years.お知らせ • Dec 20Allgeier SE Provides Earnings Guidance for the Fiscal Year 2025 and 2026Allgeier SE provided earnings guidance for the fiscal year 2025 and 2026. Following the sale of Allgeier IT Services GmbH, Munich, Allgeier expects consolidated revenue from continuing operations for the full year 2025 to be between EUR 340 million and EUR 350 million (previous year: EUR 355 million). For the year 2026, the company expects revenue in the range of €370 to €420 million for the coming 2026 fiscal year for continuing operations, in accordance with the Group planning adopted.お知らせ • May 22+ 1 more updateAllgeier SE, Annual General Meeting, Jun 27, 2025Allgeier SE, Annual General Meeting, Jun 27, 2025, at 09:00 W. Europe Standard Time.お知らせ • Jan 31+ 3 more updatesAllgeier SE to Report Q1, 2025 Results on May 15, 2025Allgeier SE announced that they will report Q1, 2025 results on May 15, 2025Reported Earnings • Nov 17Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €122.4m (flat on 3Q 2023). Net income: €6.49m (up 405% from 3Q 2023). Profit margin: 5.3% (up from 1.0% in 3Q 2023). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the IT industry in Germany.New Risk • Aug 20New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.4% Last year net profit margin: 4.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.4% net profit margin).New Risk • Aug 16New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.Reported Earnings • Aug 16Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €114.6m (down 3.9% from 2Q 2023). Net loss: €992.0k (down €1.06m from profit in 2Q 2023). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the IT industry in Germany.Upcoming Dividend • Jun 19Upcoming dividend of €0.50 per shareEligible shareholders must have bought the stock before 26 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.3%).New Risk • May 17New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.4% net profit margin).Declared Dividend • May 09Dividend of €0.50 announcedDividend of €0.50 is the same as last year. Ex-date: 26th June 2024 Payment date: 28th June 2024 Dividend yield will be 2.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has not increased over the past 6 years but payments have been stable during that time. EPS is expected to grow by 90% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Buy Or Sell Opportunity • May 07Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 1.8% to €18.50. The fair value is estimated to be €23.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 7.0% per annum. Earnings are also forecast to grow by 24% per annum over the same time period.Reported Earnings • Apr 30Full year 2023 earnings released: EPS: €1.17 (vs €1.68 in FY 2022)Full year 2023 results: EPS: €1.17 (down from €1.68 in FY 2022). Revenue: €502.5m (up 3.1% from FY 2022). Net income: €13.4m (down 30% from FY 2022). Profit margin: 2.7% (down from 3.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.Valuation Update With 7 Day Price Move • Mar 14Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €19.58, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the IT industry in Germany. Total loss to shareholders of 8.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €35.03 per share.お知らせ • Jan 11+ 3 more updatesAllgeier SE to Report Q3, 2024 Results on Nov 14, 2024Allgeier SE announced that they will report Q3, 2024 results on Nov 14, 2024New Risk • Nov 10New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Share price has been volatile over the past 3 months (6.4% average weekly change). Profit margins are more than 30% lower than last year (2.5% net profit margin).New Risk • Aug 17New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.5% Last year net profit margin: 4.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (106% cash payout ratio). Profit margins are more than 30% lower than last year (2.5% net profit margin).Reported Earnings • Aug 17Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €119.9m (up 1.3% from 2Q 2022). Net income: €71.0k (down 99% from 2Q 2022). Profit margin: 0.1% (down from 5.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings.Buying Opportunity • Jun 15Now 22% undervaluedOver the last 90 days, the stock is up 4.7%. The fair value is estimated to be €35.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to grow by 57% in the next 2 years.Upcoming Dividend • Jun 07Upcoming dividend of €0.50 per share at 1.9% yieldEligible shareholders must have bought the stock before 14 June 2023. Payment date: 16 June 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.3%).Reported Earnings • Apr 30Full year 2022 earnings released: EPS: €1.53 (vs €1.04 in FY 2021)Full year 2022 results: EPS: €1.53 (up from €1.04 in FY 2021). Revenue: €495.2m (up 23% from FY 2021). Net income: €17.5m (up 47% from FY 2021). Profit margin: 3.5% (up from 2.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.お知らせ • Feb 01+ 4 more updatesAllgeier SE to Report Q3, 2023 Results on Nov 14, 2023Allgeier SE announced that they will report Q3, 2023 results on Nov 14, 2023Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: €0.17 (vs €0.34 in 3Q 2021)Third quarter 2022 results: EPS: €0.17 (down from €0.34 in 3Q 2021). Revenue: €124.8m (up 26% from 3Q 2021). Net income: €1.90m (down 51% from 3Q 2021). Profit margin: 1.5% (down from 3.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Aug 27Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 17%. The fair value is estimated to be €38.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 80%. Revenue is forecast to grow by 35% in 2 years. Earnings is forecast to grow by 109% in the next 2 years.Buying Opportunity • Jul 14Now 26% undervalued after recent price dropOver the last 90 days, the stock is down 39%. The fair value is estimated to be €38.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 80%. Revenue is forecast to grow by 35% in 2 years. Earnings is forecast to grow by 112% in the next 2 years.Valuation Update With 7 Day Price Move • Jul 06Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €29.40, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 20x in the IT industry in Germany. Total returns to shareholders of 479% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €44.69 per share.Upcoming Dividend • Jun 24Upcoming dividend of €0.50 per shareEligible shareholders must have bought the stock before 01 July 2022. Payment date: 05 July 2022. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.6%). In line with average of industry peers (1.6%).Reported Earnings • May 01Full year 2021 earnings released: EPS: €1.04 (vs €0.001 loss in FY 2020)Full year 2021 results: EPS: €1.04 (up from €0.001 loss in FY 2020). Revenue: €410.0m (up 16% from FY 2020). Net income: €11.9m (up €11.9m from FY 2020). Profit margin: 2.9% (up from 0% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 19% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Mar 14Investor sentiment improved over the past weekAfter last week's 17% share price gain to €38.30, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 27x in the IT industry in Germany. Total returns to shareholders of 627% over the past three years.Valuation Update With 7 Day Price Move • Jan 08Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to €45.70, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 31x in the IT industry in Germany. Total returns to shareholders of 764% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €74.43 per share.Valuation Update With 7 Day Price Move • Dec 14Investor sentiment improved over the past weekAfter last week's 18% share price gain to €42.70, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 31x in the IT industry in Germany. Total returns to shareholders of 701% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €69.02 per share.Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS €0.33 (vs €0.23 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €100.2m (up 17% from 3Q 2020). Net income: €3.90m (up 55% from 3Q 2020). Profit margin: 3.9% (up from 3.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year.Reported Earnings • Aug 18Second quarter 2021 earnings released: €0.21 loss per share (vs €0.23 loss in 2Q 2020)The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: €97.9m (up 12% from 2Q 2020). Net loss: €2.39m (loss narrowed 4.9% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.Upcoming Dividend • Jun 02Upcoming dividend of €0.50 per shareEligible shareholders must have bought the stock before 09 June 2021. Payment date: 11 June 2021. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (3.2%). Higher than average of industry peers (1.1%).お知らせ • Feb 16+ 2 more updatesAllgeier SE to Report First Half, 2021 Results on Aug 27, 2021Allgeier SE announced that they will report first half, 2021 results on Aug 27, 2021Valuation Update With 7 Day Price Move • Feb 04Investor sentiment improved over the past weekAfter last week's 16% share price gain to €23.40, the stock is trading at a trailing P/E ratio of 13.2x, up from the previous P/E ratio of 11.4x. This compares to an average P/E of 31x in the IT industry in Germany. Total returns to shareholders over the past three years are 349%.Valuation Update With 7 Day Price Move • Jan 08Investor sentiment improved over the past weekAfter last week's 20% share price gain to €22.40, the stock is trading at a trailing P/E ratio of 12.3x, up from the previous P/E ratio of 10.3x. This compares to an average P/E of 30x in the IT industry in Germany. Total returns to shareholders over the past three years are 307%.Valuation Update With 7 Day Price Move • Dec 17Investor sentiment deteriorated over the past weekAfter last week's 79% share price decline to €17.30, the stock is trading at a trailing P/E ratio of 9.3x, down from the previous P/E ratio of 44.1x. This compares to an average P/E of 30x in the IT industry in Germany. Total return to shareholders over the past three years is a loss of 25%.Is New 90 Day High Low • Dec 05New 90-day high: €84.80The company is up 48% from its price of €57.40 on 04 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €103 per share.Reported Earnings • Nov 19Third quarter 2020 earnings released: EPS €0.77The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €192.5m (down 5.5% from 3Q 2019). Net income: €8.65m (up 115% from 3Q 2019). Profit margin: 4.5% (up from 2.0% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth.Is New 90 Day High Low • Nov 17New 90-day high: €66.00The company is up 13% from its price of €58.40 on 19 August 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €104 per share.お知らせ • Sep 26Manas Fuloria Resigns from the Position on the Management Board of Allgeier SEAllgeier SE announced that as planned of the spin-off process, Mr. Manas Fuloria has resigned from his position on the Management Board of Allgeier SE as of the end of September 24, 2020 in order to fully focus on his function as a member of the Management Board of Nagarro SE with immediate effect.お知らせ • Aug 24Allgeier SE Refrains from Issuing Guidance for the Remaining Fiscal Year 2020Allgeier SE announced that due to the continuing uncertainty about the possible consequences of the global COVID-19 pandemic on the global economy, the Management Board continues to refrain from issuing guidance for the remaining fiscal year 2020 at this time.業績と収益の成長予測DB:AEIN - アナリストの将来予測と過去の財務データ ( )EUR Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/2028430122241212/31/2027403101940312/31/20263752204226/30/202634252934N/A3/31/202633652327N/A12/31/202532863640N/A9/30/202539123949N/A6/30/202529693241N/A3/31/202529983343N/A12/31/202432482638N/A9/30/2024318133551N/A6/30/202435483349N/A3/31/2024396102842N/A12/31/2023421121732N/A9/30/202349312717N/A6/30/202349312515N/A3/31/2023492191323N/A12/31/2022480192432N/A9/30/2022463202328N/A6/30/2022439222631N/A3/31/2022421133539N/A12/31/2021403122429N/A9/30/202138072532N/A6/30/202136634045N/A3/31/202135537076N/A12/31/202035209096N/A9/30/2020353-7107113N/A6/30/2020366-8111116N/A3/31/2020281-12N/A77N/A12/31/2019378-9N/A68N/A9/30/2019471-8N/A39N/A6/30/2019549-4N/A20N/A3/31/20197205N/A30N/A12/31/20186864N/A17N/A9/30/20186575N/A5N/A6/30/20186286N/A4N/A3/31/20185963N/A-4N/A12/31/20175742N/A-3N/A9/30/20175633N/A9N/A6/30/20175343N/A10N/A3/31/20175224N/A17N/A12/31/20164985N/A5N/A9/30/20164845N/A11N/A6/30/20164834N/A8N/A3/31/20164604N/A-8N/A12/31/20154461N/A14N/A9/30/2015391-3N/A11N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: AEINの予測収益成長率 (年間41.5% ) は 貯蓄率 ( 2.1% ) を上回っています。収益対市場: AEINの収益 ( 41.5% ) はGerman市場 ( 15.2% ) よりも速いペースで成長すると予測されています。高成長収益: AEINの収益は今後 3 年間で 大幅に 増加すると予想されています。収益対市場: AEINの収益 ( 7.6% ) German市場 ( 6.8% ) よりも速いペースで成長すると予測されています。高い収益成長: AEINの収益 ( 7.6% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: AEINの 自己資本利益率 は、3年後には低くなると予測されています ( 5.8 %)。成長企業の発掘7D1Y7D1Y7D1YSoftware 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/08/21 07:33終値2026/08/21 00:00収益2026/06/30年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Allgeier SE 3 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。11 アナリスト機関Volker BosseBaader Helvea Equity ResearchWolfgang SpechtBerenbergHenning BreiterHauck Aufhäuser Investment Banking8 その他のアナリストを表示
お知らせ • Mar 29Allgeier Se Confirms Earnings Guidance for the Year 2026Allgeier SE confirms earnings guidance for the year 2026. For the period, the company expects revenue in the range of EUR 350 to 390 million for continuing operations.
お知らせ • Dec 20Allgeier SE Provides Earnings Guidance for the Fiscal Year 2025 and 2026Allgeier SE provided earnings guidance for the fiscal year 2025 and 2026. Following the sale of Allgeier IT Services GmbH, Munich, Allgeier expects consolidated revenue from continuing operations for the full year 2025 to be between EUR 340 million and EUR 350 million (previous year: EUR 355 million). For the year 2026, the company expects revenue in the range of €370 to €420 million for the coming 2026 fiscal year for continuing operations, in accordance with the Group planning adopted.
お知らせ • Aug 24Allgeier SE Refrains from Issuing Guidance for the Remaining Fiscal Year 2020Allgeier SE announced that due to the continuing uncertainty about the possible consequences of the global COVID-19 pandemic on the global economy, the Management Board continues to refrain from issuing guidance for the remaining fiscal year 2020 at this time.
Reported Earnings • Aug 18Second quarter 2026 earnings released: €0.097 loss per share (vs €0.099 loss in 2Q 2025)Second quarter 2026 results: €0.097 loss per share (improved from €0.099 loss in 2Q 2025). Revenue: €81.9m (up 9.4% from 2Q 2025). Net loss: €1.07m (loss narrowed 6.3% from 2Q 2025). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Jun 25Upcoming dividend of €1.00 per shareEligible shareholders must have bought the stock before 01 July 2026. Payment date: 03 July 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.4%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.4%).
お知らせ • May 22Allgeier SE, Annual General Meeting, Jun 30, 2026Allgeier SE, Annual General Meeting, Jun 30, 2026, at 09:00 W. Europe Standard Time.
Declared Dividend • May 20Dividend increased to €1.00Dividend of €1.00 is 100% higher than last year. Ex-date: 1st July 2026 Payment date: 3rd July 2026 Dividend yield will be 5.7%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is not covered by earnings (323% earnings payout ratio). However, it is well covered by cash flows (25% cash payout ratio). The dividend has not increased over the past 8 years but payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 259% to bring the payout ratio under control. EPS is expected to grow by 102% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
お知らせ • May 14Allgeier SE announces Annual dividend, payable on July 03, 2026Allgeier SE announced Annual dividend of EUR 1.0000 per share payable on July 03, 2026, ex-date on July 01, 2026 and record date on July 02, 2026.
お知らせ • Mar 29Allgeier Se Confirms Earnings Guidance for the Year 2026Allgeier SE confirms earnings guidance for the year 2026. For the period, the company expects revenue in the range of EUR 350 to 390 million for continuing operations.
お知らせ • Jan 30+ 3 more updatesAllgeier SE to Report Fiscal Year 2025 Results on Mar 31, 2026Allgeier SE announced that they will report fiscal year 2025 results on Mar 31, 2026
Buy Or Sell Opportunity • Jan 12Now 25% overvalued after recent price riseOver the last 90 days, the stock has risen 39% to €23.20. The fair value is estimated to be €18.59, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Earnings per share has declined by 46%. Revenue is forecast to decline by 2.8% in 2 years. Earnings are forecast to grow by 1,678% in the next 2 years.
お知らせ • Dec 20Allgeier SE Provides Earnings Guidance for the Fiscal Year 2025 and 2026Allgeier SE provided earnings guidance for the fiscal year 2025 and 2026. Following the sale of Allgeier IT Services GmbH, Munich, Allgeier expects consolidated revenue from continuing operations for the full year 2025 to be between EUR 340 million and EUR 350 million (previous year: EUR 355 million). For the year 2026, the company expects revenue in the range of €370 to €420 million for the coming 2026 fiscal year for continuing operations, in accordance with the Group planning adopted.
お知らせ • May 22+ 1 more updateAllgeier SE, Annual General Meeting, Jun 27, 2025Allgeier SE, Annual General Meeting, Jun 27, 2025, at 09:00 W. Europe Standard Time.
お知らせ • Jan 31+ 3 more updatesAllgeier SE to Report Q1, 2025 Results on May 15, 2025Allgeier SE announced that they will report Q1, 2025 results on May 15, 2025
Reported Earnings • Nov 17Third quarter 2024 earnings releasedThird quarter 2024 results: Revenue: €122.4m (flat on 3Q 2023). Net income: €6.49m (up 405% from 3Q 2023). Profit margin: 5.3% (up from 1.0% in 3Q 2023). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the IT industry in Germany.
New Risk • Aug 20New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.4% Last year net profit margin: 4.2% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.4% net profit margin).
New Risk • Aug 16New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.2x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past.
Reported Earnings • Aug 16Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €114.6m (down 3.9% from 2Q 2023). Net loss: €992.0k (down €1.06m from profit in 2Q 2023). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the IT industry in Germany.
Upcoming Dividend • Jun 19Upcoming dividend of €0.50 per shareEligible shareholders must have bought the stock before 26 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 48% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.3%).
New Risk • May 17New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.4% net profit margin).
Declared Dividend • May 09Dividend of €0.50 announcedDividend of €0.50 is the same as last year. Ex-date: 26th June 2024 Payment date: 28th June 2024 Dividend yield will be 2.8%, which is higher than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (34% cash payout ratio). The dividend has not increased over the past 6 years but payments have been stable during that time. EPS is expected to grow by 90% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Buy Or Sell Opportunity • May 07Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 1.8% to €18.50. The fair value is estimated to be €23.42, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 7.0% per annum. Earnings are also forecast to grow by 24% per annum over the same time period.
Reported Earnings • Apr 30Full year 2023 earnings released: EPS: €1.17 (vs €1.68 in FY 2022)Full year 2023 results: EPS: €1.17 (down from €1.68 in FY 2022). Revenue: €502.5m (up 3.1% from FY 2022). Net income: €13.4m (down 30% from FY 2022). Profit margin: 2.7% (down from 3.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.
Valuation Update With 7 Day Price Move • Mar 14Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €19.58, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the IT industry in Germany. Total loss to shareholders of 8.1% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €35.03 per share.
お知らせ • Jan 11+ 3 more updatesAllgeier SE to Report Q3, 2024 Results on Nov 14, 2024Allgeier SE announced that they will report Q3, 2024 results on Nov 14, 2024
New Risk • Nov 10New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Share price has been volatile over the past 3 months (6.4% average weekly change). Profit margins are more than 30% lower than last year (2.5% net profit margin).
New Risk • Aug 17New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.5% Last year net profit margin: 4.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (106% cash payout ratio). Profit margins are more than 30% lower than last year (2.5% net profit margin).
Reported Earnings • Aug 17Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €119.9m (up 1.3% from 2Q 2022). Net income: €71.0k (down 99% from 2Q 2022). Profit margin: 0.1% (down from 5.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings.
Buying Opportunity • Jun 15Now 22% undervaluedOver the last 90 days, the stock is up 4.7%. The fair value is estimated to be €35.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 22% in 2 years. Earnings is forecast to grow by 57% in the next 2 years.
Upcoming Dividend • Jun 07Upcoming dividend of €0.50 per share at 1.9% yieldEligible shareholders must have bought the stock before 14 June 2023. Payment date: 16 June 2023. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.3%).
Reported Earnings • Apr 30Full year 2022 earnings released: EPS: €1.53 (vs €1.04 in FY 2021)Full year 2022 results: EPS: €1.53 (up from €1.04 in FY 2021). Revenue: €495.2m (up 23% from FY 2021). Net income: €17.5m (up 47% from FY 2021). Profit margin: 3.5% (up from 2.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
お知らせ • Feb 01+ 4 more updatesAllgeier SE to Report Q3, 2023 Results on Nov 14, 2023Allgeier SE announced that they will report Q3, 2023 results on Nov 14, 2023
Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: €0.17 (vs €0.34 in 3Q 2021)Third quarter 2022 results: EPS: €0.17 (down from €0.34 in 3Q 2021). Revenue: €124.8m (up 26% from 3Q 2021). Net income: €1.90m (down 51% from 3Q 2021). Profit margin: 1.5% (down from 3.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the IT industry in Germany. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Aug 27Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 17%. The fair value is estimated to be €38.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 80%. Revenue is forecast to grow by 35% in 2 years. Earnings is forecast to grow by 109% in the next 2 years.
Buying Opportunity • Jul 14Now 26% undervalued after recent price dropOver the last 90 days, the stock is down 39%. The fair value is estimated to be €38.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 80%. Revenue is forecast to grow by 35% in 2 years. Earnings is forecast to grow by 112% in the next 2 years.
Valuation Update With 7 Day Price Move • Jul 06Investor sentiment deteriorated over the past weekAfter last week's 16% share price decline to €29.40, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 20x in the IT industry in Germany. Total returns to shareholders of 479% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €44.69 per share.
Upcoming Dividend • Jun 24Upcoming dividend of €0.50 per shareEligible shareholders must have bought the stock before 01 July 2022. Payment date: 05 July 2022. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.6%). In line with average of industry peers (1.6%).
Reported Earnings • May 01Full year 2021 earnings released: EPS: €1.04 (vs €0.001 loss in FY 2020)Full year 2021 results: EPS: €1.04 (up from €0.001 loss in FY 2020). Revenue: €410.0m (up 16% from FY 2020). Net income: €11.9m (up €11.9m from FY 2020). Profit margin: 2.9% (up from 0% in FY 2020). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 20%, compared to a 19% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Mar 14Investor sentiment improved over the past weekAfter last week's 17% share price gain to €38.30, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 27x in the IT industry in Germany. Total returns to shareholders of 627% over the past three years.
Valuation Update With 7 Day Price Move • Jan 08Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to €45.70, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 31x in the IT industry in Germany. Total returns to shareholders of 764% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €74.43 per share.
Valuation Update With 7 Day Price Move • Dec 14Investor sentiment improved over the past weekAfter last week's 18% share price gain to €42.70, the stock trades at a forward P/E ratio of 45x. Average forward P/E is 31x in the IT industry in Germany. Total returns to shareholders of 701% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €69.02 per share.
Reported Earnings • Nov 15Third quarter 2021 earnings released: EPS €0.33 (vs €0.23 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €100.2m (up 17% from 3Q 2020). Net income: €3.90m (up 55% from 3Q 2020). Profit margin: 3.9% (up from 3.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 1% per year.
Reported Earnings • Aug 18Second quarter 2021 earnings released: €0.21 loss per share (vs €0.23 loss in 2Q 2020)The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: €97.9m (up 12% from 2Q 2020). Net loss: €2.39m (loss narrowed 4.9% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
Upcoming Dividend • Jun 02Upcoming dividend of €0.50 per shareEligible shareholders must have bought the stock before 09 June 2021. Payment date: 11 June 2021. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (3.2%). Higher than average of industry peers (1.1%).
お知らせ • Feb 16+ 2 more updatesAllgeier SE to Report First Half, 2021 Results on Aug 27, 2021Allgeier SE announced that they will report first half, 2021 results on Aug 27, 2021
Valuation Update With 7 Day Price Move • Feb 04Investor sentiment improved over the past weekAfter last week's 16% share price gain to €23.40, the stock is trading at a trailing P/E ratio of 13.2x, up from the previous P/E ratio of 11.4x. This compares to an average P/E of 31x in the IT industry in Germany. Total returns to shareholders over the past three years are 349%.
Valuation Update With 7 Day Price Move • Jan 08Investor sentiment improved over the past weekAfter last week's 20% share price gain to €22.40, the stock is trading at a trailing P/E ratio of 12.3x, up from the previous P/E ratio of 10.3x. This compares to an average P/E of 30x in the IT industry in Germany. Total returns to shareholders over the past three years are 307%.
Valuation Update With 7 Day Price Move • Dec 17Investor sentiment deteriorated over the past weekAfter last week's 79% share price decline to €17.30, the stock is trading at a trailing P/E ratio of 9.3x, down from the previous P/E ratio of 44.1x. This compares to an average P/E of 30x in the IT industry in Germany. Total return to shareholders over the past three years is a loss of 25%.
Is New 90 Day High Low • Dec 05New 90-day high: €84.80The company is up 48% from its price of €57.40 on 04 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €103 per share.
Reported Earnings • Nov 19Third quarter 2020 earnings released: EPS €0.77The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: €192.5m (down 5.5% from 3Q 2019). Net income: €8.65m (up 115% from 3Q 2019). Profit margin: 4.5% (up from 2.0% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth.
Is New 90 Day High Low • Nov 17New 90-day high: €66.00The company is up 13% from its price of €58.40 on 19 August 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €104 per share.
お知らせ • Sep 26Manas Fuloria Resigns from the Position on the Management Board of Allgeier SEAllgeier SE announced that as planned of the spin-off process, Mr. Manas Fuloria has resigned from his position on the Management Board of Allgeier SE as of the end of September 24, 2020 in order to fully focus on his function as a member of the Management Board of Nagarro SE with immediate effect.
お知らせ • Aug 24Allgeier SE Refrains from Issuing Guidance for the Remaining Fiscal Year 2020Allgeier SE announced that due to the continuing uncertainty about the possible consequences of the global COVID-19 pandemic on the global economy, the Management Board continues to refrain from issuing guidance for the remaining fiscal year 2020 at this time.