Ad Pepper Media International NV (APM) AI Stock Analysis

Ad Pepper Media International NV

(XETRA:APM)

Select Model

Rating:49Neutral

Price Target:EUR 2.50▼(-8.76% Downside)

Action:reiterated

Date:08/22/26

Ad Pepper Media scores below average, driven primarily by weak profitability and an unpredictable top line. Revenue has swung dramatically over recent years and is down about 12.5% year-over-year, while net margins of roughly 1% and a 4.1% return on equity leave little room for error. Offsetting this, the balance sheet is a genuine strength — the company is effectively debt-free with €28.3M of equity — and cash generation has accelerated, with TTM free cash flow of €5.6M well above reported earnings. Technically, the stock trades below all major moving averages with a near-oversold stochastic reading, showing no clear upward momentum. Valuation compounds the caution: a P/E of 58.7 is hard to justify against shrinking sales and thin margins, and no dividend is paid. The result is a low-risk financial structure paired with sub-scale profitability, a soft price trend and a rich earnings multiple.

Positive Factors

Strong Free Cash Flow GrowthStrong cash generation gives APM internal funding for technology, customer acquisition and operations while reducing dependence on external financing. The sharp free cash flow improvement also supports resilience if advertising demand remains uneven.

Negative Factors

Declining TTM RevenueShrinking revenue can weaken operating leverage, reduce advertiser and publisher scale, and make fixed technology costs harder to absorb. Unless APM restores sustainable top-line growth, its ability to expand cash flow and margins may remain constrained.

Ad Pepper Media International NV (APM) vs. iShares MSCI Germany ETF (EWG)

Market Cap: EUR 67.65M
Dividend Yield: ―
Average Volume (3M): 4,618
Price to Earnings (P/E): 50.6
Beta (1Y): 0.30
Revenue Growth: 133.08%
EPS Growth: -33.66%
Country: Germany
Employees: 321
Sector: General
Sector Strength: 55
Industry: Advertising Agencies

Ad Pepper Media International NV Business Overview & Revenue Model

Company Description

ad pepper media International N.V., operating through its subsidiaries, offers online marketing services across a global presence that includes Germany, Italy, France, Spain, Switzerland, the Netherlands, and the United Kingdom. The company structure...

How the Company Makes Money

APM primarily makes money by monetizing digital advertising and performance marketing activity executed through its platforms and services. Revenue is typically generated through (1) performance-based marketing/affiliate models where APM earns commis...

Ad Pepper Media International NV Financial Statement Overview

Summary

A tale of two halves. The balance sheet (74) is a genuine strength: essentially debt-free with total debt of just €1.07M against €28.3M of equity, and equity has nearly doubled since 2022. Cash flow (68) is also improving sharply, with TTM operating cash flow of €7.6M and free cash flow of €5.6M comfortably exceeding net income — a sign of solid earnings quality in an asset-light model. The income statement (38) is the clear drag: revenue is erratic and down about 12.5% year-over-year, gross margins swing wildly due to apparent revenue-presentation changes, and net margin of roughly 1% leaves almost no cushion. Return on equity has fallen to 4.1% from 10.5% a year earlier, showing capital is generating only modest returns despite the conservative structure.

Income Statement

38Negative

Balance Sheet

74Positive

Cash Flow

68Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	84.77M	50.19M	89.66M	21.75M	98.23M	111.59M
Gross Profit	32.81M	27.41M	20.86M	20.27M	23.70M	26.59M
EBITDA	6.21M	3.35M	3.82M	433.00K	1.22M	4.46M
Net Income	1.31M	752.00K	2.07M	-944.00K	-250.00K	2.56M
Balance Sheet
Total Assets	68.93M	75.30M	48.37M	42.94M	43.95M	46.35M
Cash, Cash Equivalents and Short-Term Investments	28.88M	30.09M	24.17M	23.36M	23.14M	20.73M
Total Debt	1.07M	1.70M	1.32M	1.29M	1.36M	1.21M
Total Liabilities	29.68M	36.98M	27.77M	24.06M	28.29M	26.26M
Stockholders Equity	28.32M	27.71M	19.71M	17.66M	14.49M	18.68M
Cash Flow
Free Cash Flow	5.58M	2.33M	2.04M	1.13M	1.71M	1.91M
Operating Cash Flow	7.61M	3.35M	2.34M	1.24M	1.93M	2.21M
Investing Cash Flow	-8.29M	1.00M	3.39M	2.46M	-3.28M	-2.24M
Financing Cash Flow	-1.36M	-1.02M	-1.32M	-893.00K	-2.36M	-3.83M

Ad Pepper Media International NV Technical Analysis

Technical Analysis SentimentPositive

Last Price2.74

Price Trends

50DMA2.70Positive

100DMA2.67Positive

200DMA2.72Positive

Market Momentum

MACD0.01Negative

RSI53.24Neutral

STOCH39.39Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:APM, the sentiment is Positive. The current price of 2.74 is above the 20-day moving average (MA) of 2.71, above the 50-day MA of 2.70, and above the 200-day MA of 2.72, indicating a bullish trend. The MACD of 0.01 indicates Negative momentum. The RSI at 53.24 is Neutral, neither overbought nor oversold. The STOCH value of 39.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:APM.

Ad Pepper Media International NV Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

DE:APM against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DE:SAX	74Outperform	EUR 2.11B	17.39	28.11%	4.84%	3.40%	-8.34%
DE:ADN1	59Neutral	EUR 474.60M	25.60	9.65%	1.07%	12.73%	51.34%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
DE:APM	49Neutral	EUR 67.65M	50.55	4.79%	―	133.08%	-33.66%
DE:YOC	47Neutral	EUR 10.87M	-33.26	-4.31%	―	3.11%	-114.73%
DE:SYZ	44Neutral	EUR 13.77M	-1.61	-48.67%	―	-16.20%	46.60%

* General Sector Average

Performance Comparison

DE:APM and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
DE:APM	Ad Pepper Media International NV	2.74	-0.16	-5.52%
DE:ADN1	adesso AG	72.70	-16.63	-18.62%
DE:SAX	Stroeer SE & Co. KGaA	38.26	3.00	8.50%
DE:SYZ	Syzygy AG	1.02	-0.55	-34.99%
DE:YOC	YOC AG	3.13	-8.27	-72.54%
DE:DCIK	DCI Database for Commerce and Industry AG	5.00	-1.25	-20.00%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

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: Aug 22, 2026

Ad Pepper Media International NV AI Stock Analysis