Aton (ALTAO) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of Aton stock €0.01, price €0.01, that is 3.1% below the price, quality 27 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. 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 10, 2026.
How to read this chart
60‑month range €0.0052 – €0.1902 · fair‑value band €0.0065 – €0.0067 · the €0.0068 price screens above the €0.0066 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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Aton operates as a bioscience company in France. It engages in drug development, preclinical and clinical services, production of monoclonal antibodies, laboratory equipment production, and designing and manufacturing of medical devices, as well as provision of human tissues.
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The company also offers medical devices for surgeons, powered by Stemcis. The company was founded in 1998 and is headquartered in Strasbourg, France.
Stock analysis
Aton (ALTAO) currently trades at €0.0068, while our estimate is €0.0066, so the stock looks roughly fairly valued today (gap 3.2%).
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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: €0.0065 (bear) to €0.0067 (bull), the price of €0.0068 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 27/100 (below-average quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Aton reported revenue of €661K in FY2025 versus €147K in FY2021, a compound +45.6%/yr. Reported net income was −€962K in FY2025.
Key figures
Market cap €10.6M Micro · P/S ratio 16.1 · Net margin −146% · Return on equity −128% · Return on assets (EBIT) −20.9% (5-year average) · Operating margin −104% · Revenue (TTM) €661K · Revenue growth (YoY) +1.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 3 out of 100 (low confidence).
What moves the price
The share trades about 67% below its 52-week high and 31% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −3%, ALTAO screens cheaper than that median.
Fair Value
Bear€0.0065Fair Value €0.0066Bull€0.0067
Price €0.0068 · Downside -3.1%
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 quality27/100
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Profitability3
How much profit the company makes from its sales and capital
Quality Growth30
Are margins and returns getting better?
Cashflow63
Do the profits arrive as real cash?
Financial strength7
Debt, balance sheet and risk of trouble
Investment67
Does it invest with discipline instead of growing at any price?
Low Volatility38
How calm the share price moves, does not count
Price momentum26
Price momentum of the last 3 to 12 months, does not count
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.53/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.7%
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.
+34.4%
Start year 2020 (pandemic). Over 10 years: −17.7% a year
Revenue growth 16 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.
−10.9%
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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.
−210.5% (2020) → −121.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
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).
+30.3%
Yearly growth needed for the next five years to justify today's price.
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 +27.5% a year for the price.
Price, fair value, quality and upside side by side.
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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 · 849 stocks
Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score27 · Bottom 25%
Fair Value upside−3.1% · Top 25%
Profitability
Return on assets−16.6% · Above median
Net margin (12 months)−145.5% · Bottom 25%
Operating margin (12 months)−104.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)1.1% · Above median
Balance sheet
Debt / equity28.05× · 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). "Aton Fair Value". https://www.fairvalue-calculator.com/stock/ALTAO
Frequently asked questions
Is Aton (ALTAO) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is €0.0066 versus a price of €0.0068, about 3% lower (fairly valued).
What is the fair value of ALTAO?
Our estimate for Aton is €0.0066 (as of Nov 10, 2026), built from audited fundamentals. The current price: €0.0068.
What is the quality score of ALTAO?
Aton has a Quality Score of 27/100. 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 Aton (ALTAO)?
Our calculated price target is the estimate of €0.0066 (as of Nov 10, 2026). Cautious scenario €0.0065, optimistic scenario €0.0067. 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 Aton stock forecast for 2026?
Our estimate puts fair value at €0.0066, about 3% lower versus a price of €0.0068 (fairly valued). Cautious scenario €0.0065, optimistic scenario €0.0067. The calculation is refreshed regularly with new filings.
What is the revenue of Aton (ALTAO)?
Aton reported trailing-twelve-month revenue of about €661K (latest available figure, as of Nov 10, 2026).
What growth is priced into Aton (ALTAO)?
For today's price to be fair in a discounted-cash-flow model, Aton would have to grow free cash flow by +30.3 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +34.4 % per year. As of Nov 10, 2026.
What discount rate (WACC) does the fair value of ALTAO use?
Our models discount Aton at 9.8 %: a base by market capitalisation (nano), damped by beta 0.82, country premium for France. 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 Aton that is +30.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Aton (ALTAO) delivered so far?
Over the past 5 years revenue at Aton grew +34.4 % a year. The price currently implies free-cash-flow growth of +30.3 % 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 Aton (ALTAO) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Aton (+30.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Aton (ALTAO)?
The free-cash-flow yield on the price is 2.52 %: that much free cash flow Aton produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Aton (ALTAO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aton it is €0.0066 per share (as of Nov 10, 2026), against a price of €0.0068.
Is Aton stock overvalued or undervalued in 2026?
As of Nov 10, 2026, ALTAO trades above its calculated fair value: price €0.0068, fair value €0.0066, a gap of about −3% (fairly valued). 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 ALTAO?
No. The price is what the market pays today (€0.0068); the fair value is what the company's own numbers justify (€0.0066). For Aton the two are €0.0002 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aton worth?
The market values Aton at about €10.6M (market capitalisation, as of Nov 10, 2026). Per share that is €0.0068; our models calculate a fair value of €0.0066 per share.
What do the bullish and bearish scenarios say about ALTAO?
Our models span a range for Aton: cautious scenario €0.0065, base €0.0066, optimistic €0.0067 per share (as of Nov 10, 2026, price €0.0068). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Aton (ALTAO)?
Balance-sheet figures for Aton (as of Nov 10, 2026): return on equity −128.3%. They feed the Quality Score of 27/100, which measures business quality independently of the share price.
How far is ALTAO from its 52-week high?
Aton trades at €0.0068, about 67% below its 52-week high of €0.0206 and 31% above the low of €0.0052 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of €0.0066 is for.
Which stocks are comparable to Aton?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, 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 Aton stock attractive at the current price?
The data as of Nov 10, 2026: price €0.0068, calculated fair value €0.0066 (−3%), Quality Score 27/100. 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. Aton 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 Aton (ALTAO)?
The closing price on Nov 10, 2026 was €0.0068. Our estimate is €0.0066, about 3% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aton right now?
The price sits above even our optimistic bull case (€0.0067). The favourable scenario is already priced in. The price sits close to our fair value, market and models broadly agree here, little valuation tension. The models converge in a tight band (€0.0065 to €0.0067), unusually little disagreement for a valuation. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Aton
How large is the market capitalisation of Aton (ALTAO)?
The market capitalisation of Aton is €10.6M. 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 Aton (ALTAO)?
The price-to-sales ratio of Aton is 16.1 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Aton (ALTAO)?
The net margin of Aton is −146% (fiscal year 2025). 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 Aton (ALTAO)?
The return on equity (ROE) of Aton is −128% (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 Aton (ALTAO)?
On an EBIT basis the return on assets of Aton is −20.9% (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 Aton (ALTAO)?
The operating margin of Aton is −104% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aton (ALTAO)?
Revenue at Aton is growing +1.1% versus a year earlier (3y avg +651%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Aton (ALTAO) carry?
The net debt of Aton is €2.7M (fiscal year 2025, ≈ 18.7 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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Thin data
Nov 10, 2026