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Haffner Energy SA (ALHAF) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Haffner Energy SA stock €0.33, price €0.55, that is 40.4% below the price, quality 33 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Utilities FR · ISIN FR0014007ND6

HE Haffner Energy SA logo Thin data Nov 10, 2026

Haffner Energy SA

ALHAF · PA
Very expensive, weak quality

Our calculation puts a fair price 40% below what the stock costs today.

Low debt
Fair value €0.3300 · Strongly overvalued
Quality 33/100
Weak Growth (revenue 5y −21.3 %/yr in EUR)
Negative free cash flow
Trails peers (2/8)
Narrow moat 8/100 · thin data
Thin data
Estimate
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

€7.36 €0.0320 Fair Value €0.3300 Feb 2022 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

57‑month range €0.0320 – €7.36 · fair‑value band €0.2475 – €0.4125 · the €0.5540 price screens above the €0.3300 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Haffner Energy S.A. designs and builds HYNOCA, a carbon-negative solution for producing renewable hydrogen in France. The company focuses on energy engineering and biomass to energy projects. The company was founded in 1993 and is headquartered in Vitry-le-François, France.

Stock analysis

Haffner Energy SA (ALHAF) currently trades at €0.5540, while our estimate is €0.3300, 40% below the price, so the stock looks overvalued today.

Show more

Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: €0.2475 (bear) to €0.4125 (bull), the price of €0.5540 sits above 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 33/100 (below-average quality), in the Utilities sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Haffner Energy SA reported revenue of €1.3M in FY2026 versus €1.4M in FY2022, a compound −1.1%/yr. Reported net income was −€12.7M in FY2026.

Key figures

Market cap €130M Micro · P/S ratio 97.6 · EPS (TTM) €−0.0900 · Return on equity −72.6% · Return on assets (EBIT) −26.2% (5-year average) · Operating margin −319% · Revenue (TTM) €1.3M · Revenue growth (YoY) +602%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 8 out of 100 (low confidence).

What moves the price

The share trades about 36% below its 52-week high and 1,631% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −52% fair-value upside, at −40%, ALHAF screens cheaper than that median.

Fair Value

Bear €0.2475 Fair Value €0.3300 Bull €0.4125
Price €0.5540 · Downside -40.4%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 33/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 55
Are margins and returns getting better?
Cashflow 3
Do the profits arrive as real cash?
Financial strength 68
Debt, balance sheet and risk of trouble
Investment 99
Does it invest with discipline instead of growing at any price?
Low Volatility 20
How calm the share price moves, does not count
Price momentum 79
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 81
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+192.6%
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.
+59.6%
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.
−21.3%
Start year 2021 (pandemic)
Revenue growth 6 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.
−22.9%
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.
−67.0% (2021) → −851.6% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

ALHAF screens overvalued: fair value 40% below the price. Compare with China Yangtze Power Co →

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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.Utilities - Renewable · 214 stocks

Beats the industry median on 2/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 33 · Below median
Fair Value upside −40.4% · Below median
Profitability
Return on assets −40.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 602.1% · Top 25%
Balance sheet
Debt / equity 0.13× · Lowest 25%

Valuation Multiplesvs Utilities - Renewable median · lower = cheaper

P/B 8.38× · Priciest 25%
P/S (12 months) 97.58× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 16
FUTURE (revenue growth)100 · sector 22
PAST (return on equity)0 · sector 10
HEALTH (low debt)94 · sector 70
DIVIDEND (yield)0 · sector 49

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Utilities - Renewable stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
BEP BEP $30.08 $72.13 +140% vs ALHAF
SDIC Power Holdings 600886 ¥15.55 ¥17.01 +9% vs ALHAF
China Yangtze Power Co 600900 ¥29.67 ¥32.21 +9% vs ALHAF
VERBUND AG VER €72.40 €66.45 −8% vs ALHAF
Fortum Oyj FORTUM €23.33 €11.12 −52% vs ALHAF
Huaneng Lancang River Hydropower Inc 600025 ¥10.92 ¥4.45 −59% vs ALHAF
Public Power Corporation PPC €23.86 €6.43 −73% vs ALHAF
EDP Renewables, S.A EDPR €13.81 €3.67 −73% vs ALHAF
Ørsted A/S ORSTED kr 144.70 kr 33.25 −77% vs ALHAF
Adani Green Energy Limited ADANIGREEN ₹1,449 ₹170.50 −88% vs ALHAF

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Haffner Energy SA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Haffner Energy SA Fair Value". https://www.fairvalue-calculator.com/stock/ALHAF

Frequently asked questions

Is Haffner Energy SA (ALHAF) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is €0.3300 versus a price of €0.5540, about 40% lower (overvalued).
What is the fair value of ALHAF?
Our estimate for Haffner Energy SA is €0.3300 (as of Nov 10, 2026), built from audited fundamentals. The current price: €0.5540.
What is the quality score of ALHAF?
Haffner Energy SA has a Quality Score of 33/100. 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 Haffner Energy SA (ALHAF)?
Our calculated price target is the estimate of €0.3300 (as of Nov 10, 2026). Cautious scenario €0.2475, optimistic scenario €0.4125. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Haffner Energy SA stock forecast for 2026?
Our estimate puts fair value at €0.3300, about 40% lower versus a price of €0.5540 (overvalued). Cautious scenario €0.2475, optimistic scenario €0.4125. The calculation is refreshed regularly with new filings.
What is the revenue of Haffner Energy SA (ALHAF)?
Haffner Energy SA reported trailing-twelve-month revenue of about €1.3M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Haffner Energy SA (ALHAF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Haffner Energy SA it is €0.3300 per share (as of Nov 10, 2026), against a price of €0.5540.
Is Haffner Energy SA stock overvalued or undervalued in 2026?
As of Nov 10, 2026, ALHAF trades above its calculated fair value: price €0.5540, fair value €0.3300, a gap of about −40% (overvalued). 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 ALHAF?
No. The price is what the market pays today (€0.5540); the fair value is what the company's own numbers justify (€0.3300). For Haffner Energy SA the two are €0.2240 per share apart. That gap is exactly why we show both numbers side by side.
How much is Haffner Energy SA worth?
The market values Haffner Energy SA at about €130M (market capitalisation, as of Nov 10, 2026). Per share that is €0.5540; our models calculate a fair value of €0.3300 per share.
What do the bullish and bearish scenarios say about ALHAF?
Our models span a range for Haffner Energy SA: cautious scenario €0.2475, base €0.3300, optimistic €0.4125 per share (as of Nov 10, 2026, price €0.5540). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Haffner Energy SA (ALHAF)?
Balance-sheet figures for Haffner Energy SA (as of Nov 10, 2026): return on equity −72.6%, debt of 0.13 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is ALHAF from its 52-week high?
Haffner Energy SA trades at €0.5540, about 36% below its 52-week high of €0.8640 and 1,631% above the low of €0.0320 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of €0.3300 is for.
Which stocks are comparable to Haffner Energy SA?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, VERBUND AG, 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 Haffner Energy SA stock attractive at the current price?
The data as of Nov 10, 2026: price €0.5540, calculated fair value €0.3300 (−40%), Quality Score 33/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Haffner Energy SA itself currently trades above fair value. 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 Haffner Energy SA (ALHAF)?
The closing price on Nov 10, 2026 was €0.5540. Our estimate is €0.3300, about 40% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Haffner Energy SA right now?
The price sits above even our optimistic bull case (€0.4125). The favourable scenario is already priced in. Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Haffner Energy SA

How large is the market capitalisation of Haffner Energy SA (ALHAF)?
The market capitalisation of Haffner Energy SA is €130M. 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 Haffner Energy SA (ALHAF)?
The price-to-sales ratio of Haffner Energy SA is 97.6 (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 Haffner Energy SA (ALHAF)?
Earnings per share at Haffner Energy SA are €−0.0900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Haffner Energy SA (ALHAF)?
The return on equity (ROE) of Haffner Energy SA is −72.6% (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 Haffner Energy SA (ALHAF)?
On an EBIT basis the return on assets of Haffner Energy SA is −26.2% (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 Haffner Energy SA (ALHAF)?
The operating margin of Haffner Energy SA is −319% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Haffner Energy SA (ALHAF)?
Revenue at Haffner Energy SA is growing +602% versus a year earlier (3y avg +59.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Haffner Energy SA (ALHAF) generate?
The free cash flow of Haffner Energy SA is −€8.2M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Haffner Energy SA (ALHAF) carry?
The net debt of Haffner Energy SA is €1.7M (fiscal year 2026). 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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