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Celyad SA (CYAD) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Celyad SA stock €0.18, price €0.18, upside +1.1%, quality 65 out of 100. Rating: fairly valued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.

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Healthcare BE · ISIN BE0974260896

CS Celyad SA logo Thin data Nov 7, 2026

Celyad SA

CYAD · BR
Fairly valued, in an uptrend

The stock costs about what our calculation considers fair.

Quality 65/100
Low debt
Ranks above peers (7/9)
Wide moat 68/100
Costs just 2.2 times its yearly profit.
Fair value €0.1800 · Fairly valued
Mixed Growth (revenue 5y +33.2 %/yr in EUR)
Negative free cash flow
Thin data
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What runs behind every stock

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

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€4.54 €0.1680 Fair Value €0.1800 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range €0.1680 – €4.54 · fair‑value band €0.1300 – €0.2400 · the €0.1780 price screens below the €0.1800 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

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Company profile

Celyad Oncology SA, a biotechnology company, focuses on unlocking the potential of its intellectual property. Its portfolio comprises multiple foundational US patents focused on TCR-deficient T cell compositions, and it broadly covers allogeneic CAR T cell therapies.

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The company was formerly known as Celyad SA and changed its name to Celyad Oncology SA in June 2020. Celyad Oncology SA was founded in 2004 and is headquartered in Mont-Saint-Guibert, Belgium.

Stock analysis

Celyad SA (CYAD) currently trades at €0.1780, while our model-based Fair Value estimate is €0.1800, so the stock looks roughly fairly valued today (gap 1.1%).

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Valuation

Bull case: the Multiples group reads highest at a median of €0.1950 per share, and 2 of the 6 models we run sit above the €0.1780 price.

Bear case: the Asset-Based group reads lowest at €0.0200, and 4 of the 6 models stay below the price. Data coverage for this calculation is low.

Scenario range: €0.1300 (bear) to €0.2400 (bull), the price of €0.1780 sits inside 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 65/100 (solid quality), in the Healthcare sector.

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

Celyad SA reported revenue of €21.0K in FY2025 versus €0 in FY2021. Reported net income was €830K in FY2025.

Key figures

Market cap €13.7M Micro · P/E ratio 2.2 · P/S ratio 87.9 · EPS (TTM) €0.0800 · Return on equity 56.3% · Return on assets (EBIT) −95.5% (5-year average) · Operating margin 13,300% · Revenue (TTM) €7.0K.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 68 out of 100 (medium confidence).

What moves the price

The share trades about 64% below its 52-week high and 6% above 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 1%, CYAD screens richer than that median.

Fair Value models

Bear €0.1300 Fair Value €0.1800 Bull €0.2400
Price €0.1780 · Upside +1.1%
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 (€0.0686 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.
Best data coverage
Residual Income €0.0500 €0.0600 €0.0800 68
Graham-Dodd €0.0800 €0.0900 €0.1000 65
Growth-Adj P/E €0.1300 €0.1800 €0.2400 65
All 6 models by family
Earnings-Based
Graham-Dodd €0.0800 €0.0900 €0.1000 65
Multiples
P/E Multiple €0.1800 €0.2400 €0.3000 63
P/B Multiple €0.1100 €0.1500 €0.1800 55
Asset-Based
NCAV (Graham) €0.0100 €0.0200 €0.0300 52
Economic Profit
Residual Income €0.0500 €0.0600 €0.0800 68
Growth Earnings
Growth-Adj P/E €0.1300 €0.1800 €0.2400 65

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Quality Score breakdown

Overall quality 65/100

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

Profitability 76
How much profit the company makes from its sales and capital
Quality Growth 49
Are margins and returns getting better?
Cashflow 33
Do the profits arrive as real cash?
Financial strength 71
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 21
How calm the share price moves, does not count
Price momentum 17
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 11
Distance to the 52-week high, does not count
New shares 50
Buys back shares or issues new ones?

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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. 52/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−88.7%
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.
+33.2%
Start year 2020 (pandemic)
Revenue growth 15 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.
−24.8%
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.
−339,740.0% (2020) → −34,200.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed

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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 6/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 65 · Top 25%
Fair Value upside +1.1% · Top 25%
Profitability
Return on equity (12 months) 56.3% · Top 25%
Return on assets 19.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) −95.9% · Bottom 25%

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/E (12 months) 2.2× · Cheapest 25%
P/B 5.61× · Priciest 25%
EV/EBITDA 15.4× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)35 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)100 · sector 0
HEALTH (low debt)100 · sector 97
DIVIDEND (yield)0 · sector 22

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 Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Incyte Corporation INCY $119.65 $199.23 +67% vs CYAD
Regeneron Pharmaceuticals, Inc REGN $904.35 $1,275 +41% vs CYAD
Vertex Pharmaceuticals Incorporated VRTX $547.09 $601.80 +10% vs CYAD
Samsung Biologics Co 207940 1,516,000 KRW 1,667,600 KRW +10% vs CYAD
Genmab A/S GMAB kr 3,527 kr 3,880 +10% vs CYAD
WuXi Biologics (Cayman) Inc 2269 HK$47.62 HK$52.38 +10% vs CYAD
argenx SE ARGX $927.21 $908.40 −2% vs CYAD
CSL Limited CSL A$200.77 A$183.04 −9% vs CYAD
Celltrion, Inc 068270 211,000 KRW 74,945 KRW −64% vs CYAD
Royalty Pharma plc RPRX $67.30 $19.01 −72% vs CYAD

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Celyad SA: fair value per Fair Value Calculator

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

Frequently asked questions

Is Celyad SA (CYAD) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €0.1800 versus a price of €0.1780, about +1% upside (fairly valued).
What is the fair value of CYAD?
Our model-based fair value for Celyad SA is €0.1800 (as of Nov 7, 2026), built from audited fundamentals. The current price: €0.1780.
What is the quality score of CYAD?
Celyad SA has a Quality Score of 65/100. 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 Celyad SA (CYAD)?
Our model-based price target is the fair value of €0.1800 (as of Nov 7, 2026) from 6 valuation models. Cautious scenario €0.1300, optimistic scenario €0.2400. It is a calculation from audited fundamentals, not an analyst target.
What is the Celyad SA stock forecast for 2026?
Our models put fair value at €0.1800, about +1% upside versus a price of €0.1780 (fairly valued). Cautious scenario €0.1300, optimistic scenario €0.2400. The calculation is refreshed regularly with new filings.
What is the revenue of Celyad SA (CYAD)?
Celyad SA reported trailing-twelve-month revenue of about €7.0K (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Celyad SA (CYAD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Celyad SA it is €0.1800 per share (as of Nov 7, 2026), against a price of €0.1780. It is the blended result of 6 valuation models in 5 families (Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Celyad SA stock overvalued or undervalued in 2026?
As of Nov 7, 2026, CYAD trades below its calculated fair value: price €0.1780, fair value €0.1800, a gap of about +1% (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 CYAD?
No. The price is what the market pays today (€0.1780); the fair value is what the company's own numbers justify (€0.1800). For Celyad SA the two are €0.0020 per share apart. That gap is exactly why we show both numbers side by side.
How much is Celyad SA worth?
The market values Celyad SA at about €13.7M (market capitalisation, as of Nov 7, 2026). Per share that is €0.1780; our models calculate a fair value of €0.1800 per share.
What do the bullish and bearish scenarios say about CYAD?
Our models span a range for Celyad SA: cautious scenario €0.1300, base €0.1800, optimistic €0.2400 per share (as of Nov 7, 2026, price €0.1780). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CYAD?
Celyad SA trades at a price-to-earnings ratio of 2.2 (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 €0.1800 is built from several models across several years. Other multiples: P/B 5.6, EV/EBITDA 15.4.
How solid is the balance sheet of Celyad SA (CYAD)?
Balance-sheet figures for Celyad SA (as of Nov 7, 2026): return on equity 56.3%. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is CYAD from its 52-week high?
Celyad SA trades at €0.1780, about 64% below its 52-week high of €0.4950 and 6% above the low of €0.1680 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €0.1800 is for.
Which stocks are comparable to Celyad SA?
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 Celyad SA stock attractive at the current price?
The data as of Nov 7, 2026: price €0.1780, calculated fair value €0.1800 (+1%), Quality Score 65/100, from 6 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 CYAD calculated?
We run Celyad SA through 6 models from 5 families: Earnings-Based, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of €0.1800 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. Celyad SA currently trades 1% 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 Celyad SA (CYAD)?
The closing price on Nov 6, 2026 was €0.1780. Our model-based fair value is €0.1800, about +1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Celyad SA right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (€0.1300 to €0.2400) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Celyad SA

How large is the market capitalisation of Celyad SA (CYAD)?
The market capitalisation of Celyad SA is €13.7M. 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 Celyad SA (CYAD)?
The price-to-sales ratio of Celyad SA is 87.9 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Celyad SA (CYAD)?
Earnings per share at Celyad SA are €0.0800 (price ÷ EPS = P/E 2.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Celyad SA (CYAD)?
The return on equity (ROE) of Celyad SA is 56.3% (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 Celyad SA (CYAD)?
On an EBIT basis the return on assets of Celyad SA is −95.5% (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 Celyad SA (CYAD)?
The operating margin of Celyad SA is 13,300% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Celyad SA (CYAD)?
Revenue at Celyad SA is growing −95.9% versus a year earlier. 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 Celyad SA (CYAD) generate?
The free cash flow of Celyad SA is −€6.9M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Celyad SA (CYAD) hold?
Celyad SA holds more cash than debt, €1.7M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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