Arundel AG (0QLV.L)

Arundel AG (0QLV.L) — VMCI valuation read

Headline read on 0QLV.L: VMCI of 36/100 versus a Financial Services sector median of 50. The 14-point below-median position is what makes Arundel AG a relative-value laggard in the mid-cap cohort, before any pillar-level review.

Form 4 filings on 0QLV.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 0QLV.L: value (0QLV.L trades at 15.0x earnings, 17% below the Financial Services median of 18.0x), quality (ROIC of 11.0% sits 1.0pp above the Financial Services median (10.0%)), and risk (net debt to EBITDA of 3.2x is the binding constraint on the bear case). The value read also implies an EV/EBITDA gap of +4.0x against the Financial Services 12.0x baseline.

0QLV.L rose 2.7% over the trailing 7 days, with a +7.7% read on a 30-day basis.