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Sangoma Technologies Corp (SANG) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Sangoma Technologies Corp stock $12.33, price $4.59, upside +168.6%, quality 53 out of 100. Rating: strongly undervalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.

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Technology US · Home Canada · ISIN CA80100R4089

ST Sangoma Technologies Corp logo Thin data Nov 8, 2026

Sangoma Technologies Corp

SANG · US
Undervalued, but sideways

The stock costs 63% less than our calculation considers fair.

Fair value $12.33 · Strongly undervalued
Low debt
Generates free cash flow
Even on cautious assumptions the value is 70% above the price ($7.80).
Quality 53/100
Weak Growth (revenue 5y −2.8 %/yr in USD)
Loss-making · -40.5% net margin (TTM)
Trails peers (4/12)
Narrow moat 12/100 · thin data
Negative coverage
Thin data
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Price vs Fair Value

$22.40 $2.41 Fair Value $12.33 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range $2.41 – $22.40 · fair‑value band $7.80 – $20.34 · the $4.59 price screens below the $12.33 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

Sangoma Technologies Corporation, together with its subsidiaries, develops, manufactures, distributes, and supports voice and data connectivity components for software-based communication applications in the United States of America and internationally.

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The company offers communications platforms comprising pure cloud and hybrid unified communications as a service, and on-premises systems; retail and wholesale SIP trunking, as well as fax as a service; Sangoma TeamHub, a unified communications and collaboration platform for business productivity; Sangoma Meet, a multi-party video conferencing platform; and Sangoma CX, a cloud-native contact center suite that enables businesses to manage inbound interactions across multiple channels.

It also provides productivity apps comprising appointment suite, call flow, curbside, phone monitor, send, and urgent notify; managed security services, such as antispam, web filtering, antivirus, botnet and domain reputation, app control and intrusion prevention system services, and managed firewall device; and network management solutions, including managed internet, VPN, and SD-WAN, as well as secure Wi-Fi access points.

In addition, the company offers open-source software products, such as Asterisk, an open-source framework for building real-time and multi-protocol communications applications; FreePBX, a web-based open-source GUI for controlling and managing Asterisk; and PBXact, a commercial UC system.

Further, it provides desktop and wireless phones, network connectivity hardware, wireless and wired headsets, accessories, analog and digital telephony cards, session border controllers, VoIP gateways, and interface boards. Sangoma Technologies Corporation is headquartered in Markham, Canada.

Stock analysis

Sangoma Technologies Corp (SANG) currently trades at $4.59, while our model-based Fair Value estimate is $12.33, implying the stock looks roughly 63% undervalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of $12.32 per share, and 9 of the 10 models we run sit above the $4.59 price.

Bear case: the Multiples group reads lowest at $11.16, and 1 of the 10 models stay below the price. Data coverage for this calculation is low.

Scenario range: $7.80 (bear) to $20.34 (bull), the price of $4.59 sits below 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 53/100 (solid quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Sangoma Technologies Corp reported revenue of $195M in FY2026 versus $289M in FY2022, a compound −9.4%/yr. Reported net income was −$78.9M in FY2026.

Key figures

Market cap $152M Micro · P/S ratio 0.77 · EPS (TTM) $−2.44 · Net margin −40.5% · Return on equity −37.8% · Return on assets (EBIT) −1.9% (5-year average) · Operating margin −17.4% · Revenue (TTM) $200M.

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 15% below its 52-week high and 33% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at 169%, SANG screens cheaper than that median.

Fair Value models

Bear $7.80 Fair Value $12.33 Bull $20.34
Price $4.59 · Upside +168.6%
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
FCF DCF $7.80 $11.76 $21.69 77
Growth DCF $7.41 $12.33 $20.34 76
5Y EBITDA Exit $9.85 $18.70 $34.33 72
All 10 models by family
DCF Models
FCF DCF $7.80 $11.76 $21.69 77
5Y Revenue Exit $6.60 $11.63 $21.01 70
5Y EBITDA Exit $9.85 $18.70 $34.33 72
10Y Revenue Exit $6.74 $12.32 $18.97 65
10Y EBITDA Exit $8.89 $17.55 $33.09 65
Multiples
EV/EBITDA $10.88 $14.74 $18.61 67
EV/Revenue $5.08 $7.57 $10.05 53
Asset-Based
NCAV (Graham) $0.1800 $0.2500 $0.3700 54
Growth DCF
Growth DCF $7.41 $12.33 $20.34 76
Rev-Margin DCF $6.60 $12.21 $20.50 70

Open the full fair value analysis →

Quality Score breakdown

Overall quality 53/100

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

Profitability 30
How much profit the company makes from its sales and capital
Quality Growth 11
Are margins and returns getting better?
Cashflow 66
Do the profits arrive as real cash?
Financial strength 52
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 48
How calm the share price moves, does not count
Price momentum 48
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 42
Distance to the 52-week high, does not count
New shares 86
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. 23/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−39.6%
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.
−16.5%
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.
−2.8%
Start year 2021 (pandemic). Over 10 years: +28.1% a year
Revenue growth 29 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.
+26.4%
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.
−2.5% (2021) → −6.7% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

Little optimism in the price
The price assumes about as much growth as the company has delivered so far and less than analysts expect.
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).
−2.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −4.5% a year for the price and +2.2% for the forecasts.
Forecast 2027 (sales)+5.4%
Projected 2028 (sales)+5.1%
Projected 2029 (sales)+4.7%
Projected 2030 (sales)+4.3%
Projected 2031 (sales)+3.9%

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Earlier news

News mood ⓘNews mood, the average tone of recent news (48 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. Negative
Recent news coverage is more negative than average.

Compare Sangoma Technologies Corp with another stock

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.Software - Infrastructure · 346 stocks

Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 53 · Below median
Fair Value upside +168.6% · Top 25%
Profitability
Return on assets −36.7% · Bottom 25%
Net margin (12 months) −40.5% · Bottom 25%
Operating margin (12 months) −17.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −21.2% · Bottom 25%
Balance sheet
Debt / equity 0.05× · Above median

Valuation Multiplesvs Software - Infrastructure median · lower = cheaper

P/B 0.87× · Cheapest 25%
P/S (12 months) 0.76× · Cheapest 25%
Price / free cash flow (fiscal year) 7.1× · Cheapest 25%
EV/EBITDA 30.6× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 25
FUTURE (revenue growth)0 · sector 60
PAST (return on equity)0 · sector 23
HEALTH (low debt)97 · sector 98
DIVIDEND (yield)0 · sector 31

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 Software - Infrastructure stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Microsoft Corporation MSFT $530.61 $583.67 +10% vs SANG
Fortinet, Inc FTNT $118.84 $130.72 +10% vs SANG
Oracle Corporation ORCL $116.10 $111.97 −4% vs SANG
NetApp, Inc NTAP $169.19 $156.80 −7% vs SANG
Block, Inc XYZ $85.48 $76.43 −11% vs SANG
Synopsys, Inc SNPS $450.46 $288.23 −36% vs SANG
Zscaler, Inc ZS $197.66 $101.45 −49% vs SANG
Palantir Technologies Inc PLTR $160.38 $42.20 −74% vs SANG
CrowdStrike Holdings CRWD $216.90 $37.97 −82% vs SANG
Palo Alto Networks, Inc PANW $313.84 $39.54 −87% vs SANG

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Cite: Fair Value Calculator (2026). "Sangoma Technologies Corp Fair Value". https://www.fairvalue-calculator.com/stock/SANG

Frequently asked questions

Is Sangoma Technologies Corp (SANG) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $12.33 versus a price of $4.59, about +169% upside (undervalued).
What is the fair value of SANG?
Our model-based fair value for Sangoma Technologies Corp is $12.33 (as of Nov 8, 2026), built from audited fundamentals. The current price: $4.59.
What is the quality score of SANG?
Sangoma Technologies Corp has a Quality Score of 53/100. 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 Sangoma Technologies Corp (SANG)?
Our model-based price target is the fair value of $12.33 (as of Nov 8, 2026) from 10 valuation models. Cautious scenario $7.80, optimistic scenario $20.34. It is a calculation from audited fundamentals, not an analyst target.
What is the Sangoma Technologies Corp stock forecast for 2026?
Our models put fair value at $12.33, about +169% upside versus a price of $4.59 (undervalued). Cautious scenario $7.80, optimistic scenario $20.34. The calculation is refreshed regularly with new filings.
What is the revenue of Sangoma Technologies Corp (SANG)?
Sangoma Technologies Corp reported trailing-twelve-month revenue of about $200M (latest available figure, as of Nov 8, 2026).
What growth is priced into Sangoma Technologies Corp (SANG)?
For today's price to be fair in a discounted-cash-flow model, Sangoma Technologies Corp would have to grow free cash flow by -2.2 % per year for five years (discount rate 12.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -2.8 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of SANG use?
Our models discount Sangoma Technologies Corp at 12.3 %: a base by market capitalisation (micro), damped by beta 0.87, country premium for USA. 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 Sangoma Technologies Corp that is -2.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.3 %) and the same formula as our fair value.
How much growth has Sangoma Technologies Corp (SANG) delivered so far?
Over the past 5 years revenue at Sangoma Technologies Corp grew -2.8 % a year. The price currently implies free-cash-flow growth of -2.2 % 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 Sangoma Technologies Corp (SANG) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Sangoma Technologies Corp (-2.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sangoma Technologies Corp (SANG)?
The free-cash-flow yield on the price is 14.00 %: that much free cash flow Sangoma Technologies Corp produces per unit of market value. When it exceeds the discount rate of our models (12.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sangoma Technologies Corp (SANG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sangoma Technologies Corp it is $12.33 per share (as of Nov 8, 2026), against a price of $4.59. It is the blended result of 10 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Sangoma Technologies Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, SANG trades below its calculated fair value: price $4.59, fair value $12.33, a gap of about +169% (undervalued). 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 SANG?
No. The price is what the market pays today ($4.59); the fair value is what the company's own numbers justify ($12.33). For Sangoma Technologies Corp the two are $7.74 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sangoma Technologies Corp worth?
The market values Sangoma Technologies Corp at about $152M (market capitalisation, as of Nov 8, 2026). Per share that is $4.59; our models calculate a fair value of $12.33 per share.
What do the bullish and bearish scenarios say about SANG?
Our models span a range for Sangoma Technologies Corp: cautious scenario $7.80, base $12.33, optimistic $20.34 per share (as of Nov 8, 2026, price $4.59). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Sangoma Technologies Corp (SANG)?
Balance-sheet figures for Sangoma Technologies Corp (as of Nov 8, 2026): return on equity −37.8%, debt of 0.05 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is SANG from its 52-week high?
Sangoma Technologies Corp trades at $4.59, about 15% below its 52-week high of $5.40 and 33% above the low of $3.45 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $12.33 is for.
Which stocks are comparable to Sangoma Technologies Corp?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, Inc, 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 Sangoma Technologies Corp stock attractive at the current price?
The data as of Nov 8, 2026: price $4.59, calculated fair value $12.33 (+169%), Quality Score 53/100, from 10 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 SANG calculated?
We run Sangoma Technologies Corp through 10 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of $12.33 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. Sangoma Technologies Corp currently trades 63% 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 Sangoma Technologies Corp (SANG)?
The closing price on Nov 6, 2026 was $4.59. Our model-based fair value is $12.33, about +169% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sangoma Technologies Corp right now?
The price is below even our cautious bear case ($7.80). The market is more pessimistic than our downside scenario. The model range is unusually wide ($7.80 to $20.34). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Sangoma Technologies Corp

How large is the market capitalisation of Sangoma Technologies Corp (SANG)?
The market capitalisation of Sangoma Technologies Corp is $152M. 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 Sangoma Technologies Corp (SANG)?
The price-to-sales ratio of Sangoma Technologies Corp is 0.77 (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 Sangoma Technologies Corp (SANG)?
Earnings per share at Sangoma Technologies Corp are $−2.44. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Sangoma Technologies Corp (SANG)?
The net margin of Sangoma Technologies Corp is −40.5% (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 Sangoma Technologies Corp (SANG)?
The return on equity (ROE) of Sangoma Technologies Corp is −37.8% (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 Sangoma Technologies Corp (SANG)?
On an EBIT basis the return on assets of Sangoma Technologies Corp is −1.9% (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 Sangoma Technologies Corp (SANG)?
The operating margin of Sangoma Technologies Corp is −17.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sangoma Technologies Corp (SANG)?
Revenue at Sangoma Technologies Corp is growing −21.2% versus a year earlier (3y avg −16.5%). 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 Sangoma Technologies Corp (SANG) carry?
The net debt of Sangoma Technologies Corp is $23.7M (fiscal year 2026, ≈ 1.1 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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