AAC Clyde Space AB (publ) (0GFN.L)

AAC Clyde Space AB (publ) (0GFN.L) — VMCI valuation read

Headline read on 0GFN.L: VMCI of 33/100 versus a Industrials sector median of 50. The 17-point below-median position is what makes AAC Clyde Space AB (publ) a relative-value laggard in the mid-cap cohort, before any pillar-level review.

Form 4 filings on 0GFN.L: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on 0GFN.L: value (0GFN.L trades at 25.0x earnings, 39% above the Industrials median of 18.0x), quality (ROIC of 19.0% sits 9.0pp above the Industrials median (10.0%)), and risk (net debt to EBITDA of 2.8x is the rate-sensitivity line to watch). The value read also implies an EV/EBITDA gap of +4.0x against the Industrials 12.0x baseline.

0GFN.L fell 1.8% over the trailing 7 days, with a -2.1% read on a 30-day basis.