ALD S.A. (ALD.PA)

ALD S.A. (ALD.PA) — VMCI valuation read

ALD S.A. sits at VMCI 50/100, with the Industrials sector median at 50. That 0-point spread is the first thing to note on ALD.PA: it tells the reader the composite is unfavorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on ALD.PA are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on ALD.PA: ALD.PA trades at 14.0x earnings, 22% below the Industrials median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 16.0% sits 6.0pp above the Industrials median (10.0%). The Risk read: net debt to EBITDA of 1.0x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.

ALD.PA fell 3.1% over the trailing 7 days, with a -15.8% read on a 30-day basis.