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ADLER Group (ADJ) AI Stock Analysis
ADLER Group
(XETRA:ADJ)
The score is held down primarily by weak financial performance: persistent losses, negative operating/free cash flow, and an extremely leveraged balance sheet with a thin equity cushion. Technicals add only mild support, with the stock still below key longer-term moving averages and negative MACD. Valuation provides limited offset because the negative P/E reflects ongoing losses and no dividend yield is available.
ADLER Group (ADJ) vs. iShares MSCI Germany ETF (EWG)
- Market Cap
- EUR 13.68M
- Dividend Yield
- ―
- Average Volume (3M)
- 59.50K
- Price to Earnings (P/E)
- -0.1
- Beta (1Y)
- 0.58
- Revenue Growth
- 54.52%
- EPS Growth
- -122.93%
- Country
- Germany
- Employees
- 302
- Sector
- Real Estate
- Sector Strength
- 65
- Industry
- Real Estate - Development
ADLER Group Business Overview & Revenue Model
Company Description
Operating within Germany's property market, Adler Group S.A. focuses on residential real estate. Its activities are organized into two primary divisions: residential property management and the privatization of assets. The firm undertakes a comprehen...
ADLER Group Earnings Call Summary
The call showed clear operational momentum in the Berlin yielding portfolio — steady disposals, successful partial deleveraging, positive like‑for‑like revaluations (+0.6% H2, +1% for 2025), solid rental growth (3.6% LFL), low vacancy (1.3%) and active liquidity/debt management (bond repaid, loan extended). However, the development business remains a drag (adjusted EBITDA negative, development valuations down -6.5% H2), the group still carries high absolute debt (EUR 3.7bn) and LTV increased to 76.3%, and there is ongoing financing and regulatory uncertainty. Overall, operational and strategic positives outweigh the challenges but key risks remain concentrated in the development segment and leverage profile.
Q4-2025 Updates
Positive Updates
Negative Updates
Company Guidance
Guidance for 2026: Adler expects net rental income of EUR 124–129 million, underpinned by continued rental growth with management confident of like‑for‑like rental growth north of 3% at year‑end 2026 (after 3.6% in 2025), average rent of EUR 8.61/sqm/month (Dec‑25) and a very low vacancy of ~1.3%; group GAV was ~EUR 4.0 billion (yielding portfolio EUR 3.5bn, development ~EUR 0.5bn), LTV stood at 76.3%, total nominal interest‑bearing debt was EUR 3.7bn with a weighted average cost of debt of 7% and average debt maturity ~3.4 years (97% of debt maturing in 2028+), there are no bond maturities until 2028 providing strategic flexibility, and management will continue disposals (disposal holdback basket ~EUR 245m almost full; 49 remaining non‑Berlin units) to reduce the first‑lien facility and return net proceeds (Karl cited ~EUR 125m, Thorsten referenced ~EUR 110m) while addressing remaining 2026 bank maturities.
ADLER Group Financial Statement Overview
Summary
Despite a sharp TTM revenue rebound (+140% YoY), fundamentals remain stressed: EBITDA/EBIT are still negative, the company reported a large net loss, and results have been highly volatile across recent years. The balance sheet is exceptionally leveraged (debt-to-equity roughly 36x) with a thin equity cushion, and operating/free cash flow are negative and consistently so, indicating ongoing cash burn and reliance on external funding or asset actions.
Income Statement
18Very NegativeBalance Sheet
12Very NegativeCash Flow
16Very Negative| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 548.50M | 316.96M | 392.19M | 445.08M | 734.47M | 1.14B |
| Gross Profit | 57.80M | -115.44M | 69.29M | 2.19M | 734.68M | 11.77M |
| EBITDA | -4.13M | -290.62M | 1.18B | -1.65B | -1.62B | -1.04B |
| Net Income | -232.89M | -486.62M | 873.60M | -1.66B | -1.56B | -1.18B |
Balance Sheet | ||||||
| Total Assets | 4.45B | 4.90B | 6.89B | 7.72B | 9.71B | 13.04B |
| Cash, Cash Equivalents and Short-Term Investments | 182.70M | 244.01M | 246.99M | 377.42M | 424.25M | 650.00M |
| Total Debt | 4.10B | 4.17B | 3.56B | 6.08B | 5.99B | 7.02B |
| Total Liabilities | 4.47B | 4.76B | 5.32B | 7.67B | 7.80B | 9.34B |
| Stockholders Equity | 28.19M | 124.61M | 1.33B | -228.86M | 1.42B | 2.99B |
Cash Flow | ||||||
| Free Cash Flow | -84.74M | -124.78M | -170.50M | -125.91M | -139.44M | -280.19M |
| Operating Cash Flow | -82.56M | -119.56M | -168.51M | -123.56M | -138.22M | -276.24M |
| Investing Cash Flow | 253.28M | 405.02M | 34.21M | 154.57M | 1.53B | 1.13B |
| Financing Cash Flow | -259.20M | -392.26M | 30.10M | -205.52M | -1.37B | -677.76M |
ADLER Group Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:ADJ, the sentiment is Negative. The current price of 0.09 is below the 20-day moving average (MA) of 0.10, below the 50-day MA of 0.10, and below the 200-day MA of 0.15, indicating a bearish trend. The MACD of -0.00 indicates Positive momentum. The RSI at 40.45 is Neutral, neither overbought nor oversold. The STOCH value of 27.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:ADJ.
ADLER Group Peers Comparison
Overall Rating
DE:VNA72Outperform
DE:LEG71Outperform
DE:GYC68Neutral
DE:FC963Neutral
DE:O5G44Neutral- DE:ADJ42Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| DE:VNA | 72Outperform | EUR 13.83B | 3.67 | 14.27% | 7.40% | -20.61% | 907.76% |
| DE:LEG | 71Outperform | EUR 3.74B | 2.94 | 14.93% | 5.79% | 0.54% | 112.86% |
| DE:GYC | 68Neutral | EUR 1.19B | 3.37 | 11.29% | 3.97% | 2.40% | -8.00% |
| Sector * | 65Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% |
| DE:FC9 | 63Neutral | EUR 94.26M | 8.42 | 10.83% | 3.65% | -34.11% | -42.27% |
| DE:O5G | 44Neutral | EUR 6.15B | 38.62 | 2.34% | ― | -8.37% | ― |
| DE:ADJ | 42Neutral | EUR 14.16M | -0.06 | -82.03% | ― | 54.52% | -122.93% |
* Real Estate Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| DE:ADJ | Adler Group Sa | 0.09 | -0.10 | -53.13% | |
| DE:LEG | LEG Immobilien | 50.40 | -10.42 | -17.13% | |
| DE:VNA | Vonovia SE | 16.89 | -6.84 | -28.82% | |
| DE:GYC | Grand City Properties SA | 7.55 | -2.88 | -27.58% | |
| DE:O5G | CPI PROPERTY GROUP S.A. | 0.73 | -0.07 | -8.75% | |
| DE:FC9 | FCR Immobilien AG | 9.60 | -1.73 | -15.30% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 15, 2026