| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 21.18 | 359 |
| Intrinsic value (DCF) | 47.67 | 934 |
| Graham-Dodd Method | 1.82 | -61 |
| Graham Formula | 1.36 | -70 |
Aramis Group SAS is a leading European online used car retailer, operating under the brands Aramisauto (France, Belgium), Clicars (Spain), and CarSupermarket (UK). Founded in 2001 and headquartered in Arcueil, France, the company specializes in the digital sale of pre-owned vehicles, offering a seamless online purchasing experience with home delivery options. Aramis Group leverages its proprietary technology and data-driven pricing models to provide competitive pricing and transparency in the fragmented used car market. As part of the Consumer Cyclical sector and Auto - Dealerships industry, the company benefits from the growing shift toward e-commerce in automotive retail. With a presence in key European markets, Aramis Group is well-positioned to capitalize on increasing demand for affordable, high-quality used cars. The company’s omni-channel approach, combining online convenience with selective physical locations, enhances customer trust and market penetration.
Aramis Group presents a compelling investment case as a digital disruptor in the European used car market, benefiting from the structural shift toward online vehicle sales. The company’s scalable platform, strong brand recognition, and asset-light model support margin expansion potential. However, risks include intense competition from both traditional dealerships and digital-first rivals, as well as macroeconomic sensitivity affecting discretionary auto purchases. With a market cap of €641 million, modest profitability (net income of €5 million in FY2023), and a beta of 0.37, Aramis offers moderate volatility exposure. The lack of dividends may deter income-focused investors, but growth-oriented stakeholders could find value in its revenue trajectory (€2.24 billion in FY2023) and cash flow generation (€54 million operating cash flow).
Aramis Group’s competitive advantage lies in its pure-play online model, which reduces overhead costs compared to traditional dealerships while offering convenience and transparency. Its proprietary pricing algorithms and centralized inventory management enable competitive pricing and efficient logistics across markets. The company’s multi-brand strategy (Aramisauto, Clicars, CarSupermarket) allows localized market penetration while maintaining operational synergies. However, it faces pressure from vertically integrated competitors like Auto1 Group, which combines wholesale and retail operations, and OEM-backed platforms (e.g., Stellantis’s used car programs). Aramis’s lack of a significant physical footprint may limit appeal to customers preferring test drives, though its partnerships with inspection centers mitigate this. The UK’s CarSupermarket brand competes in a crowded value segment, while continental brands target mid-market buyers with certified vehicles. Scalability is a strength, but reliance on third-party vehicle sourcing could constrain margin control versus competitors with owned inventory channels.