Oculis Holding AG (OCS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Oculis Holding AG stock $3.35, price $7.49, that is 55.3% below the price, quality 28 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, 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 7, 2026.
How to read this chart
60‑month range $6.83 – $32.65 · fair‑value band $2.21 – $4.18 · the $7.49 price screens above the $3.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Oculis Holding AG, a clinical-stage biopharmaceutical company, develops drug candidates to treat ophthalmic, neuro-ophthalmic, and neurological diseases in Switzerland and internationally.
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The company's lead product candidate is OCS-01, a topical dexamethasone optireach formulation, which is in Phase 3 clinical trials for the treatment of diabetic macular edema; OCS-02, a topical biologic candidate that is in Phase 2b clinical trials for the treatment for dry eye disease; and OCS-05, a disease modifying neuroprotective agent for neurological damage with indications for glaucoma, dry age-related macular degeneration and diabetic retinopathy, and acute optic neuritis.
Oculis Holding AG was formerly known as Oculis SA and changed its name to Oculis Holding AG in March 2023. The company was founded in 2017 and is based in Zug, Switzerland.
Stock analysis
Oculis Holding AG (OCS) currently trades at $7.49, while our model-based Fair Value estimate is $3.35, 55% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: $2.21 (bear) to $4.18 (bull), the price of $7.49 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 28/100 (below-average quality), in the Healthcare sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Oculis Holding AG Ordinary shares reported revenue of CHF 0 in FY2025 versus CHF 960K in FY2021. Reported net income was −CHF 94.5M in FY2025.
Key figures
Market cap $459M Small · EPS (TTM) $−1.69 · Return on equity −47.5% · Return on assets (EBIT) −55.0% (5-year average) · Operating margin −337,686% · Revenue (TTM) $937K · Revenue growth (YoY) −97.1% · Free cash flow −CHF 62.5M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).
What moves the price
The share trades about 77% below its 52-week high and 10% 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 −55%, OCS screens richer than that median.
Fair Value models
Bear$2.21Fair Value $3.35Bull$4.18
Price $7.49 · Downside -55.3%
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
NCAV (Graham)$2.59$3.92$4.9055
All 1 models by family
Asset-Based
NCAV (Graham)$2.59$3.92$4.9055
The fair value above starts from this blend and is adjusted for dilution from new shares.
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 is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−22.3%
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.
−10.6%
’20
’21
’22
’23
’24
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.
−1,242.3% (2020) → −10,671.1% (2024)
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
News mood ⓘNews mood, the average tone of recent news (72 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
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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 1/6 measures
Overall it trails its industry peers.
Valuation
Quality Score28 · Bottom 25%
Fair Value upside−55.3% · Below median
Profitability
Return on assets−40.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−97.1% · Bottom 25%
Balance sheet
Debt / equity0.62× · Highest 25%
Valuation Multiplesvs Biotechnology median · lower = cheaper
P/B1.92× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 0
PAST (return on equity)0· sector 0
HEALTH (low debt)69· sector 97
DIVIDEND (yield)0· sector 22
VALUE 0: the price sits above our fair-value range.
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). "Oculis Holding AG Ordinary shares Fair Value". https://www.fairvalue-calculator.com/stock/OCS
Frequently asked questions
Is Oculis Holding AG (OCS) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $3.35 versus a price of $7.49, about 55% lower (overvalued).
What is the fair value of OCS?
Our model-based fair value for Oculis Holding AG is $3.35 (as of Nov 7, 2026), built from audited fundamentals. The current price: $7.49.
What is the quality score of OCS?
Oculis Holding AG has a Quality Score of 28/100. 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 Oculis Holding AG (OCS)?
Our model-based price target is the fair value of $3.35 (as of Nov 7, 2026) from 1 valuation models. Cautious scenario $2.21, optimistic scenario $4.18. It is a calculation from audited fundamentals, not an analyst target.
What is the Oculis Holding AG Ordinary shares stock forecast for 2026?
Our models put fair value at $3.35, about 55% lower versus a price of $7.49 (overvalued). Cautious scenario $2.21, optimistic scenario $4.18. The calculation is refreshed regularly with new filings.
What is the revenue of Oculis Holding AG (OCS)?
Oculis Holding AG reported trailing-twelve-month revenue of about $937K (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Oculis Holding AG (OCS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Oculis Holding AG it is $3.35 per share (as of Nov 7, 2026), against a price of $7.49. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Oculis Holding AG Ordinary shares stock overvalued or undervalued in 2026?
As of Nov 7, 2026, OCS trades above its calculated fair value: price $7.49, fair value $3.35, a gap of about −55% (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 OCS?
No. The price is what the market pays today ($7.49); the fair value is what the company's own numbers justify ($3.35). For Oculis Holding AG the two are $4.14 per share apart. That gap is exactly why we show both numbers side by side.
How much is Oculis Holding AG Ordinary shares worth?
The market values Oculis Holding AG at about $459M (market capitalisation, as of Nov 7, 2026). Per share that is $7.49; our models calculate a fair value of $3.35 per share.
What do the bullish and bearish scenarios say about OCS?
Our models span a range for Oculis Holding AG: cautious scenario $2.21, base $3.35, optimistic $4.18 per share (as of Nov 7, 2026, price $7.49). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Oculis Holding AG (OCS)?
Balance-sheet figures for Oculis Holding AG (as of Nov 7, 2026): return on equity −47.5%, debt of 0.62 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is OCS from its 52-week high?
Oculis Holding AG trades at $7.49, about 77% below its 52-week high of $32.65 and 10% above the low of $6.83 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $3.35 is for.
Which stocks are comparable to Oculis Holding AG Ordinary shares?
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 Oculis Holding AG Ordinary shares stock attractive at the current price?
The data as of Nov 7, 2026: price $7.49, calculated fair value $3.35 (−55%), Quality Score 28/100, from 1 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 OCS calculated?
We run Oculis Holding AG through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $3.35 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. Oculis Holding AG 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 Oculis Holding AG (OCS)?
The closing price on Nov 6, 2026 was $7.49. Our model-based fair value is $3.35, about 55% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Oculis Holding AG Ordinary shares right now?
The price sits above even our optimistic bull case ($4.18). The favourable scenario is already priced in. Weak quality (28/100) 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. A fairly wide model range ($2.21 to $4.18) leaves room in how you read the outcome.
Key figures of Oculis Holding AG
How large is the market capitalisation of Oculis Holding AG (OCS)?
The market capitalisation of Oculis Holding AG is $459M. 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 Oculis Holding AG (OCS)?
Earnings per share at Oculis Holding AG are $−1.69. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Oculis Holding AG (OCS)?
The return on equity (ROE) of Oculis Holding AG is −47.5% (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 Oculis Holding AG (OCS)?
On an EBIT basis the return on assets of Oculis Holding AG is −55.0% (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 Oculis Holding AG (OCS)?
The operating margin of Oculis Holding AG is −337,686% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Oculis Holding AG (OCS)?
Revenue at Oculis Holding AG is growing −97.1% 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 Oculis Holding AG (OCS) generate?
The free cash flow of Oculis Holding AG is −CHF 62.5M (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 Oculis Holding AG (OCS) hold?
Oculis Holding AG holds more cash than debt, CHF 79.1M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 7, 2026
