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Microbix Biosystems Inc. (MBX) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Microbix Biosystems Inc. stock C$0.06, price C$0.29, that is 78.9% below the price, quality 44 out of 100. Rating: strongly overvalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.

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Healthcare CA · ISIN CA59501P1045

MB Microbix Biosystems Inc. logo Thin data Nov 3, 2026

Microbix Biosystems Inc.

MBX · TO
Very expensive, weak quality

Our calculation puts a fair price 79% below what the stock costs today.

Low debt
Revenue last quarter +17% vs. a year ago.
Quality 44/100
Expensive Growth (revenue 5y +12.0 %/yr in CAD)
Mixed vs. peers (5/10)
Fair value C$0.0600 · Strongly overvalued (−78.9%)
Loss-making · -31.7% net margin (TTM)
Negative free cash flow
Narrow moat 12/100 · thin data
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

C$0.8400 C$0.2100 Fair Value C$0.0600 Jul 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.

How to read this chart

60‑month range C$0.2100 – C$0.8400 · fair‑value band C$0.0500 – C$0.0600 · the C$0.2850 price screens above the C$0.0600 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 3, 2026.

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Company profile

Microbix Biosystems Inc., a life science company, develops and commercializes proprietary biological and technological solutions for human health and wellbeing in North America, Europe, and internationally.

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The company manufactures a wide range of critical biological materials and medical devices for the global diagnostics industry, notably test ingredients (Antigen business) used in immunoassays, quality assessment, and diagnostic-test products, such as test-controls under the QAPs brand; viral transport medium for enabling the collection of patient samples to test for pathogens including virus causing the COVID-19 disease under the DxTM brand; Kinlytic, a biologic thrombolytic drug used to treat blood clots; and antigen products.

It also provides customer vial filling services. Microbix Biosystems Inc. was founded in 1988 and is headquartered in Mississauga, Canada.

Stock analysis

Microbix Biosystems Inc. (MBX) currently trades at C$0.2850, while our model-based Fair Value estimate is C$0.0600, 79% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: C$0.0500 (bear) to C$0.0600 (bull), the price of C$0.2850 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 44/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Microbix Biosystems Inc. reported revenue of C$18.6M in FY2025 versus C$18.6M in FY2021, a compound 0.0%/yr. Reported net income was −C$2.2M in FY2025.

Key figures

Market cap C$38.3M (≈ $27.1M) Micro · P/S ratio 2.58 · EPS (TTM) C$−0.0400 · Net margin −31.7% · Return on equity −18.2% · Return on assets (EBIT) 4.7% (5-year average) · Operating margin −16.2% · Revenue (TTM) C$15.4M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (low confidence).

What moves the price

The share trades about 11% below its 52-week high and 36% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at −79%, MBX screens richer than that median.

Fair Value models

Bear C$0.0500 Fair Value C$0.0600 Bull C$0.0600
Price C$0.2850 · Downside -78.9%
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. 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
EV/EBITDA C$0.0500 C$0.0600 C$0.0600 67
NCAV (Graham) C$0.0700 C$0.1000 C$0.1300 54
All 2 models by family
Multiples
EV/EBITDA C$0.0500 C$0.0600 C$0.0600 67
Asset-Based
NCAV (Graham) C$0.0700 C$0.1000 C$0.1300 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 44/100

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

Profitability 16
How much profit the company makes from its sales and capital
Quality Growth 0
Are margins and returns getting better?
Cashflow 5
Do the profits arrive as real cash?
Financial strength 87
Debt, balance sheet and risk of trouble
Investment 83
Does it invest with discipline instead of growing at any price?
Low Volatility 57
How calm the share price moves, does not count
Price momentum 54
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 59
Distance to the 52-week high, does not count
New shares 96
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. 34/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−26.8%
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.
−0.9%
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.
+12.0%
Start year 2020 (pandemic). Over 10 years: +7.7% a year
Revenue growth 28 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.
+7.1%
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.
−5.0% (2020) → −8.5% (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

MBX screens overvalued: fair value 79% below the price. Compare with Vertex Pharmaceuticals Incorporated →

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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 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 44 · Above median
Fair Value upside −78.9% · Bottom 25%
Profitability
Return on assets −6.0% · Above median
Net margin (12 months) −31.7% · Bottom 25%
Operating margin (12 months) −16.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 16.9% · Above median
Balance sheet
Debt / equity 0.19× · Above median

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B 1.38× · Cheaper than median
P/S (12 months) 2.49× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)85 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)91 · sector 97
DIVIDEND (yield)0 · sector 22

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 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 MBX
Regeneron Pharmaceuticals, Inc REGN $904.35 $1,275 +41% vs MBX
Genmab A/S GMAB kr 3,527 kr 3,999 +13% vs MBX
Samsung Biologics Co 207940 1,516,000 KRW 1,667,600 KRW +10% vs MBX
WuXi Biologics (Cayman) Inc 2269 HK$47.62 HK$52.38 +10% vs MBX
Vertex Pharmaceuticals Incorporated VRTX $547.09 $596.75 +9% vs MBX
argenx SE ARGX $927.21 $908.40 −2% vs MBX
CSL Limited CSL A$202.04 A$183.04 −9% vs MBX
Celltrion, Inc 068270 211,000 KRW 74,945 KRW −64% vs MBX
Royalty Pharma plc RPRX $67.30 $19.01 −72% vs MBX

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Microbix Biosystems Inc.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Microbix Biosystems Inc. Fair Value". https://www.fairvalue-calculator.com/stock/MBX

Frequently asked questions

Is Microbix Biosystems Inc. (MBX) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of C$0.0600 versus a price of C$0.2850, about 79% lower (overvalued).
What is the fair value of MBX?
Our model-based fair value for Microbix Biosystems Inc. is C$0.0600 (as of Nov 3, 2026), built from audited fundamentals. The current price: C$0.2850.
What is the quality score of MBX?
Microbix Biosystems Inc. has a Quality Score of 44/100. 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 Microbix Biosystems Inc. (MBX)?
Our model-based price target is the fair value of C$0.0600 (as of Nov 3, 2026) from 2 valuation models. Cautious scenario C$0.0500, optimistic scenario C$0.0600. It is a calculation from audited fundamentals, not an analyst target.
What is the Microbix Biosystems Inc. stock forecast for 2026?
Our models put fair value at C$0.0600, about 79% lower versus a price of C$0.2850 (overvalued). Cautious scenario C$0.0500, optimistic scenario C$0.0600. The calculation is refreshed regularly with new filings.
What is the revenue of Microbix Biosystems Inc. (MBX)?
Microbix Biosystems Inc. reported trailing-twelve-month revenue of about C$15.4M (latest available figure, as of Nov 3, 2026).
What is the intrinsic value of Microbix Biosystems Inc. (MBX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Microbix Biosystems Inc. it is C$0.0600 per share (as of Nov 3, 2026), against a price of C$0.2850. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is Microbix Biosystems Inc. stock overvalued or undervalued in 2026?
As of Nov 3, 2026, MBX trades above its calculated fair value: price C$0.2850, fair value C$0.0600, a gap of about −79% (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 MBX?
No. The price is what the market pays today (C$0.2850); the fair value is what the company's own numbers justify (C$0.0600). For Microbix Biosystems Inc. the two are C$0.2250 per share apart. That gap is exactly why we show both numbers side by side.
How much is Microbix Biosystems Inc. worth?
The market values Microbix Biosystems Inc. at about C$38.3M (market capitalisation, as of Nov 3, 2026). Per share that is C$0.2850; our models calculate a fair value of C$0.0600 per share.
What do the bullish and bearish scenarios say about MBX?
Our models span a range for Microbix Biosystems Inc.: cautious scenario C$0.0500, base C$0.0600, optimistic C$0.0600 per share (as of Nov 3, 2026, price C$0.2850). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Microbix Biosystems Inc. (MBX)?
Balance-sheet figures for Microbix Biosystems Inc. (as of Nov 3, 2026): return on equity −18.2%, debt of 0.19 per unit of equity. They feed the Quality Score of 44/100, which measures business quality independently of the share price.
How far is MBX from its 52-week high?
Microbix Biosystems Inc. trades at C$0.2850, about 11% below its 52-week high of C$0.3200 and 36% above the low of C$0.2100 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of C$0.0600 is for.
Which stocks are comparable to Microbix Biosystems Inc.?
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 Microbix Biosystems Inc. stock attractive at the current price?
The data as of Nov 3, 2026: price C$0.2850, calculated fair value C$0.0600 (−79%), Quality Score 44/100, from 2 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 MBX calculated?
We run Microbix Biosystems Inc. through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of C$0.0600 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 13.0% above its aggregate fair value. Microbix Biosystems Inc. 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 Microbix Biosystems Inc. (MBX)?
The closing price on Nov 6, 2026 was C$0.2850. Our model-based fair value is C$0.0600, about 79% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Microbix Biosystems Inc. right now?
The price sits above even our optimistic bull case (C$0.0600). The favourable scenario is already priced in. Weak quality (44/100) 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 Microbix Biosystems Inc.

How large is the market capitalisation of Microbix Biosystems Inc. (MBX)?
The market capitalisation of Microbix Biosystems Inc. is C$38.3M (≈ $27.1M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Microbix Biosystems Inc. (MBX)?
The price-to-sales ratio of Microbix Biosystems Inc. is 2.58 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Microbix Biosystems Inc. (MBX)?
Earnings per share at Microbix Biosystems Inc. are C$−0.0400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Microbix Biosystems Inc. (MBX)?
The net margin of Microbix Biosystems Inc. is −31.7% (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 Microbix Biosystems Inc. (MBX)?
The return on equity (ROE) of Microbix Biosystems Inc. is −18.2% (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 Microbix Biosystems Inc. (MBX)?
On an EBIT basis the return on assets of Microbix Biosystems Inc. is 4.7% (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 Microbix Biosystems Inc. (MBX)?
The operating margin of Microbix Biosystems Inc. is −16.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Microbix Biosystems Inc. (MBX)?
Revenue at Microbix Biosystems Inc. is growing +16.9% versus a year earlier (3y avg −0.9%). 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 Microbix Biosystems Inc. (MBX)?
Earnings per share at Microbix Biosystems Inc. are growing −94.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Microbix Biosystems Inc. (MBX) generate?
The free cash flow of Microbix Biosystems Inc. is −C$878K (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 Microbix Biosystems Inc. (MBX) hold?
Microbix Biosystems Inc. holds more cash than debt, C$5.3M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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