EUROPEAN MEDICAL SOLUTIONS (ALEMS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of EUROPEAN MEDICAL SOLUTIONS stock €7.41, price €3.40, upside +117.9%, quality 56 out of 100. Rating: strongly undervalued. Calculated from audited financials with 22 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 €3.40 – €124.61 · fair‑value band €5.54 – €10.10 · the €3.40 price screens below the €7.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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European Medical Solutions engages in the design, development, and manufacturing of medical imaging systems for digital radiology and bone densitometry in Belgium and internationally.
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It offers R/F solutions, including PLATINUM NEO, a solution that revolutionizes the R/F workflow through an interface and AI-powered image processing; OPTIMA, a performance remote-controlled table designed to provide, imaging solution for radiography and fluoroscopy examinations; bone densitometry and body composition analysis equipment; chest and bone rooms, such as floor and ceiling tube stands; ambulatory radiography equipment; retrofit kits; C-ARM mobile operating room solutions; and mammography solutions.
The company was formerly known as DMS Imaging SA and changed its name to European Medical Solutions in June 2024. DMS Imaging SA was founded in 1979 and is headquartered in Ixelles, Belgium. European Medical Solutions operates as a subsidiary of Diagnostic Medical Systems S.A.
Stock analysis
EUROPEAN MEDICAL SOLUTIONS (ALEMS) currently trades at €3.40, while our model-based Fair Value estimate is €7.41, implying the stock looks roughly 54% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €9.06 per share, and 20 of the 22 models we run sit above the €3.40 price.
Bear case: the Economic Profit group reads lowest at €4.78, and 2 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: €5.54 (bear) to €10.10 (bull), the price of €3.40 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 56/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
EUROPEAN MEDICAL SOLUTIONS reported revenue of €49.9M in FY2025 versus €38.0M in FY2021, a compound +7.0%/yr. Reported net income was €1.8M in FY2025.
Key figures
Market cap €16.8M Micro · P/E ratio 7.4 · P/S ratio 0.33 · EPS (TTM) €0.4600 · Net margin 3.8% · Return on equity 16.9% · Return on assets (EBIT) −1.1% (5-year average) · Operating margin 6.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at 118%, ALEMS screens cheaper than that median.
Fair Value models
Bear€5.54Fair Value €7.41Bull€10.10
Price €3.40 · Upside +117.9%
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 (€0.3945 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.74/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+10.6%
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.
+10.4%
Revenue growth 12 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.
+109.5%
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Profit margin (trend) ⓘ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.
−249.9% (2020) → 5.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−5.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −7.5% a year for the price.
Compare EUROPEAN MEDICAL SOLUTIONS 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.Biotechnology · 558 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside+117.9% · Top 25%
Profitability
Return on equity (12 months)16.9% · Top 25%
Return on assets3.6% · Above median
Net margin (12 months)3.8% · Below median
Operating margin (12 months)6.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)−5.8% · Below median
Balance sheet
Debt / equity0.58× · Highest 25%
Valuation Multiplesvs Biotechnology median · lower = cheaper
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). "EUROPEAN MEDICAL SOLUTIONS Fair Value". https://www.fairvalue-calculator.com/stock/ALEMS
Frequently asked questions
Is EUROPEAN MEDICAL SOLUTIONS (ALEMS) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €7.41 versus a price of €3.40, about +118% upside (undervalued).
What is the fair value of ALEMS?
Our model-based fair value for EUROPEAN MEDICAL SOLUTIONS is €7.41 (as of Nov 7, 2026), built from audited fundamentals. The current price: €3.40.
What is the quality score of ALEMS?
EUROPEAN MEDICAL SOLUTIONS has a Quality Score of 56/100. 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 EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
Our model-based price target is the fair value of €7.41 (as of Nov 7, 2026) from 22 valuation models. Cautious scenario €5.54, optimistic scenario €10.10. It is a calculation from audited fundamentals, not an analyst target.
What is the EUROPEAN MEDICAL SOLUTIONS stock forecast for 2026?
Our models put fair value at €7.41, about +118% upside versus a price of €3.40 (undervalued). Cautious scenario €5.54, optimistic scenario €10.10. The calculation is refreshed regularly with new filings.
What is the revenue of EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
EUROPEAN MEDICAL SOLUTIONS reported trailing-twelve-month revenue of about €51.4M (latest available figure, as of Nov 7, 2026).
What growth is priced into EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
For today's price to be fair in a discounted-cash-flow model, EUROPEAN MEDICAL SOLUTIONS would have to grow free cash flow by -5.5 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +168.3 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of ALEMS use?
Our models discount EUROPEAN MEDICAL SOLUTIONS at 9.0 %: a base by market capitalisation (nano), damped by beta 0.09, country premium for Belgium. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For EUROPEAN MEDICAL SOLUTIONS that is -5.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has EUROPEAN MEDICAL SOLUTIONS (ALEMS) delivered so far?
Over the past 5 years revenue at EUROPEAN MEDICAL SOLUTIONS grew +168.3 % a year. The price currently implies free-cash-flow growth of -5.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of EUROPEAN MEDICAL SOLUTIONS (ALEMS) growing?
The median revenue growth in the sector is +1.7 % a year. That is the yardstick for the growth priced into EUROPEAN MEDICAL SOLUTIONS (-5.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
The free-cash-flow yield on the price is 17.33 %: that much free cash flow EUROPEAN MEDICAL SOLUTIONS produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EUROPEAN MEDICAL SOLUTIONS it is €7.41 per share (as of Nov 7, 2026), against a price of €3.40. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is EUROPEAN MEDICAL SOLUTIONS stock overvalued or undervalued in 2026?
As of Nov 7, 2026, ALEMS trades below its calculated fair value: price €3.40, fair value €7.41, a gap of about +118% (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 ALEMS?
No. The price is what the market pays today (€3.40); the fair value is what the company's own numbers justify (€7.41). For EUROPEAN MEDICAL SOLUTIONS the two are €4.01 per share apart. That gap is exactly why we show both numbers side by side.
How much is EUROPEAN MEDICAL SOLUTIONS worth?
The market values EUROPEAN MEDICAL SOLUTIONS at about €16.8M (market capitalisation, as of Nov 7, 2026). Per share that is €3.40; our models calculate a fair value of €7.41 per share.
What do the bullish and bearish scenarios say about ALEMS?
Our models span a range for EUROPEAN MEDICAL SOLUTIONS: cautious scenario €5.54, base €7.41, optimistic €10.10 per share (as of Nov 7, 2026, price €3.40). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ALEMS?
EUROPEAN MEDICAL SOLUTIONS trades at a price-to-earnings ratio of 7.4 (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 €7.41 is built from several models across several years. Other multiples: P/B 1.4, P/S 0.3, EV/EBITDA 7.5.
How solid is the balance sheet of EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
Balance-sheet figures for EUROPEAN MEDICAL SOLUTIONS (as of Nov 7, 2026): return on equity 16.9%, debt of 0.58 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is ALEMS from its 52-week high?
EUROPEAN MEDICAL SOLUTIONS trades at €3.40, about 38% below its 52-week high of €5.50 and at the low of €3.40 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €7.41 is for.
Which stocks are comparable to EUROPEAN MEDICAL SOLUTIONS?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, 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 EUROPEAN MEDICAL SOLUTIONS stock attractive at the current price?
The data as of Nov 7, 2026: price €3.40, calculated fair value €7.41 (+118%), Quality Score 56/100, from 22 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 ALEMS calculated?
We run EUROPEAN MEDICAL SOLUTIONS through 22 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €7.41 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. EUROPEAN MEDICAL SOLUTIONS currently trades 54% 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 EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
The closing price on Nov 6, 2026 was €3.40. Our model-based fair value is €7.41, about +118% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EUROPEAN MEDICAL SOLUTIONS right now?
The price is below even our cautious bear case (€5.54). The market is more pessimistic than our downside scenario. Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€5.54 to €10.10) leaves room in how you read the outcome.
Key figures of EUROPEAN MEDICAL SOLUTIONS
How large is the market capitalisation of EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
The market capitalisation of EUROPEAN MEDICAL SOLUTIONS is €16.8M. 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 EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
The price-to-sales ratio of EUROPEAN MEDICAL SOLUTIONS is 0.33 (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 EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
Earnings per share at EUROPEAN MEDICAL SOLUTIONS are €0.4600 (price ÷ EPS = P/E 7.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
The net margin of EUROPEAN MEDICAL SOLUTIONS is 3.8% (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 EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
The return on equity (ROE) of EUROPEAN MEDICAL SOLUTIONS is 16.9% (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 EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
On an EBIT basis the return on assets of EUROPEAN MEDICAL SOLUTIONS is −1.1% (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 EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
The operating margin of EUROPEAN MEDICAL SOLUTIONS is 6.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
Revenue at EUROPEAN MEDICAL SOLUTIONS is growing −5.8% versus a year earlier (3y avg +10.4%). 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 EUROPEAN MEDICAL SOLUTIONS (ALEMS)?
Earnings per share at EUROPEAN MEDICAL SOLUTIONS are growing +9.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does EUROPEAN MEDICAL SOLUTIONS (ALEMS) carry?
The net debt of EUROPEAN MEDICAL SOLUTIONS is €14.2M (fiscal year 2025, ≈ 5.7 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