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Theradiag SA (ALTHE) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Theradiag SA stock €0.36, price €0.64, that is 43.1% below the price, quality 35 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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Healthcare FR · ISIN FR0010120402

TS Theradiag SA logo Thin data Nov 10, 2026

Theradiag SA

ALTHE · PA
Very expensive, weak quality

Our calculation puts a fair price 43% below what the stock costs today.

Mixed Growth (revenue 5y +9.8 %/yr in EUR)
Negative equity (buybacks among others)
Revenue last quarter 21% below a year ago.
Fair value €0.3642 · Strongly overvalued
Quality 35/100
Negative free cash flow
Trails peers (0/5)
Narrow moat 21/100
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

€2.00 €0.1417 Fair Value €0.3642 Sep 2021 Nov 2026

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

How to read this chart

60‑month range €0.1417 – €2.00 · fair‑value band €0.2731 – €0.4552 · the €0.6400 price screens above the €0.3642 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

Theraclion SA provides therapeutic ultrasound equipment.

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It offers SONOVEIN, a robotic solution for the non-invasive echotherapy treatment of varicose veins; ECHOPULSE, a robotic and non-invasive solution for the echotherapy treatment of thyroid nodules and breast fibroadenoma; and EPack, a disposable that is installed on the device before treatment to protect the patient's skin and optimize image quality.

The company was incorporated in 2004 and is headquartered in Malakoff, France.

Stock analysis

Theradiag SA (ALTHE) currently trades at €0.6400, while our estimate is €0.3642, 43% below the price, so the stock looks overvalued today.

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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: €0.2731 (bear) to €0.4552 (bull), the price of €0.6400 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 35/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Theradiag SA reported revenue of €1.2M in FY2025 versus €1.5M in FY2021, a compound −5.4%/yr. Reported net income was −€5.7M in FY2025.

Key figures

Market cap €47.6M Micro · EPS (TTM) €−0.0900 · Return on equity −204% · Return on assets (EBIT) −42.8% (5-year average) · Operating margin −592% · Revenue (TTM) €480K · Revenue growth (YoY) −20.9% · Free cash flow −€7.2M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 21 out of 100 (medium confidence).

What moves the price

The share trades about 27% below its 52-week high and 49% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 8% fair-value upside, at −43%, ALTHE screens richer than that median.

Fair Value

Bear €0.2731 Fair Value €0.3642 Bull €0.4552
Price €0.6400 · Downside -43.1%
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 quality 35/100

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 92
Are margins and returns getting better?
Cashflow 38
Do the profits arrive as real cash?
Financial strength 17
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 52
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 39
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. 26/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+42.9%
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.
−1.4%
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.
+9.8%
Start year 2020 (pandemic). Over 10 years: −2.9% a year
Revenue growth 24 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.
+30.5%
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.
−576.1% (2020) → −537.4% (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

ALTHE screens overvalued: fair value 43% below the price. Compare with Abbott Laboratories, →

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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.Medical Devices · 402 stocks

Beats the industry median on 0/5 measures
Overall it trails its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside −43.1% · Bottom 25%
Profitability
Return on equity (12 months) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −45.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −20.9% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Medical Devices median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months) 99.22× · Priciest 25%

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 Medical Devices stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥178.92 ¥202.57 +13% vs ALTHE
DexCom, Inc DXCM $79.92 $89.18 +12% vs ALTHE
Stryker Corporation SYK $324.29 $358.30 +10% vs ALTHE
STERIS plc STE $257.12 $279.53 +9% vs ALTHE
Boston Scientific Corporation BSX $44.70 $48.42 +8% vs ALTHE
GE HealthCare Technologies Inc GEHC $83.65 $69.92 −16% vs ALTHE
Edwards Lifesciences Corporation EW $104.01 $81.94 −21% vs ALTHE
Abbott Laboratories, ABT $110.46 $75.28 −32% vs ALTHE
Medtronic plc MDT $101.59 $65.61 −35% vs ALTHE
Koninklijke Philips N.V PHIA €27.06 €15.23 −44% vs ALTHE

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Theradiag SA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Theradiag SA Fair Value". https://www.fairvalue-calculator.com/stock/ALTHE

Frequently asked questions

Is Theradiag SA (ALTHE) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is €0.3642 versus a price of €0.6400, about 43% lower (overvalued).
What is the fair value of ALTHE?
Our estimate for Theradiag SA is €0.3642 (as of Nov 10, 2026), built from audited fundamentals. The current price: €0.6400.
What is the quality score of ALTHE?
Theradiag SA has a Quality Score of 35/100. 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 Theradiag SA (ALTHE)?
Our calculated price target is the estimate of €0.3642 (as of Nov 10, 2026). Cautious scenario €0.2731, optimistic scenario €0.4552. 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 Theradiag SA stock forecast for 2026?
Our estimate puts fair value at €0.3642, about 43% lower versus a price of €0.6400 (overvalued). Cautious scenario €0.2731, optimistic scenario €0.4552. The calculation is refreshed regularly with new filings.
What is the revenue of Theradiag SA (ALTHE)?
Theradiag SA reported trailing-twelve-month revenue of about €480K (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Theradiag SA (ALTHE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Theradiag SA it is €0.3642 per share (as of Nov 10, 2026), against a price of €0.6400.
Is Theradiag SA stock overvalued or undervalued in 2026?
As of Nov 10, 2026, ALTHE trades above its calculated fair value: price €0.6400, fair value €0.3642, a gap of about −43% (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 ALTHE?
No. The price is what the market pays today (€0.6400); the fair value is what the company's own numbers justify (€0.3642). For Theradiag SA the two are €0.2758 per share apart. That gap is exactly why we show both numbers side by side.
How much is Theradiag SA worth?
The market values Theradiag SA at about €47.6M (market capitalisation, as of Nov 10, 2026). Per share that is €0.6400; our models calculate a fair value of €0.3642 per share.
What do the bullish and bearish scenarios say about ALTHE?
Our models span a range for Theradiag SA: cautious scenario €0.2731, base €0.3642, optimistic €0.4552 per share (as of Nov 10, 2026, price €0.6400). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Theradiag SA (ALTHE)?
Balance-sheet figures for Theradiag SA (as of Nov 10, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is ALTHE from its 52-week high?
Theradiag SA trades at €0.6400, about 27% below its 52-week high of €0.8740 and 49% above the low of €0.4290 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of €0.3642 is for.
Which stocks are comparable to Theradiag SA?
From the same area (Healthcare) we also value Abbott Laboratories,, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, 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 Theradiag SA stock attractive at the current price?
The data as of Nov 10, 2026: price €0.6400, calculated fair value €0.3642 (−43%), Quality Score 35/100. 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. Theradiag 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 Theradiag SA (ALTHE)?
The closing price on Nov 10, 2026 was €0.6400. Our estimate is €0.3642, about 43% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Theradiag SA right now?
The price sits above even our optimistic bull case (€0.4552). The favourable scenario is already priced in. Weak quality (35/100) 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 Theradiag SA

How large is the market capitalisation of Theradiag SA (ALTHE)?
The market capitalisation of Theradiag SA is €47.6M. 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 are the earnings per share of Theradiag SA (ALTHE)?
Earnings per share at Theradiag 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 Theradiag SA (ALTHE)?
The return on equity (ROE) of Theradiag SA is −204% (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 Theradiag SA (ALTHE)?
On an EBIT basis the return on assets of Theradiag SA is −42.8% (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 Theradiag SA (ALTHE)?
The operating margin of Theradiag SA is −592% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Theradiag SA (ALTHE)?
Revenue at Theradiag SA is growing −20.9% versus a year earlier (3y avg −1.4%). 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 Theradiag SA (ALTHE) generate?
The free cash flow of Theradiag SA is −€7.2M (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 Theradiag SA (ALTHE) carry?
The net debt of Theradiag SA is €3.2M (fiscal year 2025). 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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