Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Centrale dAchat Française pour lOutre-Mer Société Anonyme stock €14.38, price €9.61, upside +49.6%, quality 52 out of 100. Rating: undervalued. Calculated from audited financials with 21 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range €8.90 – €27.84 · fair‑value band €12.90 – €17.98 · the €9.61 price screens below the €14.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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Cegedim SA operates as a technology and services company in the field of digital data flow management for healthcare ecosystem and B2B in France, rest of Europe, and internationally. It operates through Health Insurance, HR and E-Services; Healthcare Professionals; and Cloud & Support segments.
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The Health Insurance, HR and E-Services segment markets various products and services to insurance companies, mutual insurers, personal protection insurers, and insurance brokers, as well as engages in the interactions between these entities and healthcare professionals.
This segment also provides solutions for IT services and hosting, digitization, human resources and payroll management outsourcing, electronic data exchange, and data processing services.
The Healthcare Professionals division sells management software, databases, and solutions to doctors, paramedical professionals, pharmacists, and healthcare facilities. It also operates as a business software publisher for healthcare and insurance professionals.
The company was incorporated in 1969 and is headquartered in Boulogne-Billancourt, France. Cegedim SA is a subsidiary of FCB SAS.
Stock analysis
Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM) currently trades at €9.61, while our model-based Fair Value estimate is €14.38, implying the stock looks roughly 33% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €43.72 per share, and 17 of the 21 models we run sit above the €9.61 price.
Bear case: the Earnings-Based group reads lowest at €5.66, and 4 of the 21 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €12.90 (bear) to €17.98 (bull), the price of €9.61 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Centrale dAchat Française pour lOutre-Mer Société Anonyme reported revenue of €649M in FY2025 versus €525M in FY2021, a compound +5.5%/yr. Reported net income was €9.4M in FY2025, compounding −22.6%/yr from FY2021.
Key figures
Market cap €132M Micro · P/E ratio 10.1 · P/S ratio 0.23 · EPS (TTM) €0.9500 · Net margin 2.1% · Return on equity 4.3% · Return on assets (EBIT) 2.9% (5-year average) · Operating margin 5.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 3% fair-value upside, at 50%, ALCGM screens cheaper than that median.
Fair Value models
Bear€12.90Fair Value €14.38Bull€17.98
Price €9.61 · Upside +49.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€0.8147 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.56/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−0.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.5%
Start year 2020 (pandemic). Over 10 years: +4.3% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−2.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.7%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−2.7% vs −17.7%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 5%
Compare Centrale dAchat Française pour lOutre-Mer Société Anonyme with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Health Information Services · 117 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+49.6% · Top 25%
Profitability
Return on equity (12 months)4.3% · Above median
Return on assets0.9% · Below median
Net margin (12 months)2.1% · Below median
Operating margin (12 months)5.6% · Above median
Growth and dividend
Revenue growth (quarter YoY)0.7% · Below median
Balance sheet
Debt / equity0.78× · Highest 25%
Valuation Multiplesvs Health Information Services median · lower = cheaper
P/E (12 months)10.1× · Cheapest 25%
P/B0.52× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Centrale dAchat Française pour lOutre-Mer Société Anonyme Fair Value". https://www.fairvalue-calculator.com/stock/ALCGM
Frequently asked questions
Is Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €14.38 versus a price of €9.61, about +50% upside (undervalued).
What is the fair value of ALCGM?
Our model-based fair value for Centrale dAchat Française pour lOutre-Mer Société Anonyme is €14.38 (as of Nov 7, 2026), built from audited fundamentals. The current price: €9.61.
What is the quality score of ALCGM?
Centrale dAchat Française pour lOutre-Mer Société Anonyme has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
Our model-based price target is the fair value of €14.38 (as of Nov 7, 2026) from 21 valuation models. Cautious scenario €12.90, optimistic scenario €17.98. It is a calculation from audited fundamentals, not an analyst target.
What is the Centrale dAchat Française pour lOutre-Mer Société Anonyme stock forecast for 2026?
Our models put fair value at €14.38, about +50% upside versus a price of €9.61 (undervalued). Cautious scenario €12.90, optimistic scenario €17.98. The calculation is refreshed regularly with new filings.
What is the revenue of Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
Centrale dAchat Française pour lOutre-Mer Société Anonyme reported trailing-twelve-month revenue of about €652M (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Centrale dAchat Française pour lOutre-Mer Société Anonyme it is €14.38 per share (as of Nov 7, 2026), against a price of €9.61. It is the blended result of 21 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Centrale dAchat Française pour lOutre-Mer Société Anonyme stock overvalued or undervalued in 2026?
As of Nov 7, 2026, ALCGM trades below its calculated fair value: price €9.61, fair value €14.38, a gap of about +50% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ALCGM?
No. The price is what the market pays today (€9.61); the fair value is what the company's own numbers justify (€14.38). For Centrale dAchat Française pour lOutre-Mer Société Anonyme the two are €4.77 per share apart. That gap is exactly why we show both numbers side by side.
How much is Centrale dAchat Française pour lOutre-Mer Société Anonyme worth?
The market values Centrale dAchat Française pour lOutre-Mer Société Anonyme at about €132M (market capitalisation, as of Nov 7, 2026). Per share that is €9.61; our models calculate a fair value of €14.38 per share.
What do the bullish and bearish scenarios say about ALCGM?
Our models span a range for Centrale dAchat Française pour lOutre-Mer Société Anonyme: cautious scenario €12.90, base €14.38, optimistic €17.98 per share (as of Nov 7, 2026, price €9.61). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ALCGM?
Centrale dAchat Française pour lOutre-Mer Société Anonyme trades at a price-to-earnings ratio of 10.1 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €14.38 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2017 to 2025), reported earnings: 32.5. Other multiples: PEG 0.7, P/B 0.5, P/S 0.2, EV/EBITDA 4.7.
What is the PEG ratio of ALCGM?
The PEG ratio of Centrale dAchat Française pour lOutre-Mer Société Anonyme is 0.67 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
Balance-sheet figures for Centrale dAchat Française pour lOutre-Mer Société Anonyme (as of Nov 7, 2026): return on equity 4.3%, debt of 0.78 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is ALCGM from its 52-week high?
Centrale dAchat Française pour lOutre-Mer Société Anonyme trades at €9.61, about 33% below its 52-week high of €14.35 and 8% above the low of €8.90 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €14.38 is for.
Which stocks are comparable to Centrale dAchat Française pour lOutre-Mer Société Anonyme?
From the same area (Healthcare) we also value Veeva Systems Inc, Pro Medicus Limited, BrightSpring Health Services, Inc, Hinge Health, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Centrale dAchat Française pour lOutre-Mer Société Anonyme stock attractive at the current price?
The data as of Nov 7, 2026: price €9.61, calculated fair value €14.38 (+50%), Quality Score 52/100, from 21 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ALCGM calculated?
We run Centrale dAchat Française pour lOutre-Mer Société Anonyme through 21 models from 6 families: DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €14.38 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Centrale dAchat Française pour lOutre-Mer Société Anonyme currently trades 33% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
The closing price on Nov 6, 2026 was €9.61. Our model-based fair value is €14.38, about +50% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Centrale dAchat Française pour lOutre-Mer Société Anonyme right now?
The price is below even our cautious bear case (€12.90). The market is more pessimistic than our downside scenario. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Centrale dAchat Française pour lOutre-Mer Société Anonyme
How large is the market capitalisation of Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
The market capitalisation of Centrale dAchat Française pour lOutre-Mer Société Anonyme is €132M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
The price-to-sales ratio of Centrale dAchat Française pour lOutre-Mer Société Anonyme is 0.23 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
Earnings per share at Centrale dAchat Française pour lOutre-Mer Société Anonyme are €0.9500 (price ÷ EPS = P/E 10.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
The net margin of Centrale dAchat Française pour lOutre-Mer Société Anonyme is 2.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
The return on equity (ROE) of Centrale dAchat Française pour lOutre-Mer Société Anonyme is 4.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
On an EBIT basis the return on assets of Centrale dAchat Française pour lOutre-Mer Société Anonyme is 2.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
The operating margin of Centrale dAchat Française pour lOutre-Mer Société Anonyme is 5.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
Revenue at Centrale dAchat Française pour lOutre-Mer Société Anonyme is growing +0.7% versus a year earlier (3y avg +5.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM)?
Earnings per share at Centrale dAchat Française pour lOutre-Mer Société Anonyme are growing +362% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM) generate?
The free cash flow of Centrale dAchat Française pour lOutre-Mer Société Anonyme is €78.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Centrale dAchat Française pour lOutre-Mer Société Anonyme (ALCGM) carry?
The net debt of Centrale dAchat Française pour lOutre-Mer Société Anonyme is €276M (fiscal year 2024, ≈ 3.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 7, 2026