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Verimatrix SA (0QAU) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Verimatrix SA €0.45, price €0.31, upside +46.1%, quality 35 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Technology · GB · Home France · ISIN FR0010291245

VS Thin data Jul 31, 2026

Verimatrix SA

0QAU · LSE

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value €0.4500 · Undervalued (+46.1%)
!Quality 35/100
!Weak Growth (revenue 5y −12.6 %/yr)
!Loss-making · -37.9% net margin (TTM)
!High debt · negative free cash flow
!Narrow moat 8/100
!Evidence only low, so the estimate is less certain

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

€3.44 €0.1475 Fair Value €0.4500 Jul 2015 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 31, 2026.

How to read this chart

60‑month range €0.1475 – €3.44 · fair‑value band €0.3400 – €0.6800 · the €0.3080 price screens below the €0.4500 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 31, 2026.

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Company profile

Verimatrix SA provides security solutions that protect digital content, applications, and devices in France and internationally.

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Verimatrix SA provides security solutions that protect digital content, applications, and devices in France and internationally. The company offers anti-piracy products, including multi-DRM that provides managed access and secure content distribution; watermarking that detects piracy threats and deploys countermeasures to curb abuse; counterspy, which identify content leaks at distribution level and shut down illicit sources; and streamkeeper suite, a tailored solution package aligned with various requirements. It also offers cybersecurity products, such as web protect, app shield, code shield, and key shield; and Extended Threat Defense, a cybersecurity solution. It offers security solutions for various markets comprising automotive, e-sports and gaming, financial services, healthcare, Internet of Things, live sports, media and entertainment, pay TV, and streaming media, as well as for content owners. The company has a strategic collaboration with Velocix to help streaming providers combat piracy, boost paid video subscriptions, and cut CDN costs. The company was formerly known as Inside Secure S.A. and changed its name to Verimatrix SA in July 2019. Verimatrix SA was incorporated in 1994 and is headquartered in Meyreuil, France.

Stock analysis

Verimatrix SA (0QAU) currently trades at €0.3080, while our model-based Fair Value estimate is €0.4500, implying the stock looks roughly 31.6% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: €0.3400 (bear) to €0.6800 (bull), the price of €0.3080 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 35/100 (below-average quality), in the Technology sector.

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

Verimatrix SA reported revenue of €48.4M in FY2025 versus €88.5M in FY2021, a compound −14.0%/yr. Reported net income was −€81.8M in FY2025.

Key figures

Market cap €27.0M · P/E ratio 0.1 · P/S ratio 0.34 · EPS (TTM) €0.0380 · Net margin −37.9% · Return on equity −39.8% · Return on assets (EBIT) −3.4% · Operating margin −7.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).

What moves the price

The share trades about 17% below its 52-week high and 109% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −23% fair-value upside, at 46%, 0QAU screens cheaper than that median.

Fair Value models

Bear €0.3400 Fair Value €0.4500 Bull €0.6800
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€0.0287 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. Evidence ⓘEvidence = 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.
Highest evidence
NCAV (Graham) €0.3900 €0.5300 €0.7900 54
All 1 models by family
Asset-Based
NCAV (Graham) €0.3900 €0.5300 €0.7900 54

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Quality Score breakdown

Overall quality 35/100

Of which business quality 33 · Market factors (momentum, volatility) 52

Profitability 19
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 22
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 8
Calm price path (market factor)
Momentum 80
Price trend over the last 3–12 months (market factor)
52W Momentum 53
Distance to the 52-week high (market factor)
Net Issuance 66
Share count: buybacks or dilution?

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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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−15.4%
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.
−7.4%
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.
−12.6%
Start year 2020 (pandemic). Over 10 years: +6.0% a year
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.
−3.1%
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.
12.4% (2020) → −13.3% (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

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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

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Verimatrix SA · Fair Value
€0.4500 +32%Fair Value
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Cite: Fair Value Calculator (2026). "Verimatrix SA Fair Value". https://www.fairvalue-calculator.com/stock/0QAU

Frequently asked questions

Is Verimatrix SA (0QAU) overvalued or undervalued?
As of Jul 31, 2026, our model estimates a fair value of €0.4500 versus the last price from Sep 24, 2026 of €0.3080, about +46% upside (undervalued).
What is the fair value of 0QAU?
Our model-based fair value for Verimatrix SA is €0.4500 (as of Jul 31, 2026), built from audited fundamentals. Last price (from Sep 24, 2026): €0.3080.
What is the quality score of 0QAU?
Verimatrix 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 Verimatrix SA (0QAU)?
Our model-based price target is the fair value of €0.4500 (as of Jul 31, 2026) from 1 valuation models. Cautious scenario €0.3400, optimistic scenario €0.6800. It is a calculation from audited fundamentals, not an analyst target.
What is the Verimatrix SA stock forecast for 2026?
Our models put fair value at €0.4500, about +46% upside versus the last price from Sep 24, 2026 of €0.3080 (undervalued). Cautious scenario €0.3400, optimistic scenario €0.6800. The calculation is refreshed regularly with new filings.
What is the revenue of Verimatrix SA (0QAU)?
Verimatrix SA reported trailing-twelve-month revenue of about €41.7M (latest available figure, as of Jul 31, 2026).
What is the intrinsic value of Verimatrix SA (0QAU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Verimatrix SA it is €0.4500 per share (as of Jul 31, 2026), against a price of €0.3080. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Verimatrix SA stock overvalued or undervalued in 2026?
As of Jul 31, 2026, 0QAU trades below its calculated fair value: price €0.3080, fair value €0.4500, a gap of about +46% (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 0QAU?
No. The price is what the market pays today (€0.3080); the fair value is what the company's own numbers justify (€0.4500). For Verimatrix SA the two are €0.1420 per share apart. That gap is exactly why we show both numbers side by side.
How much is Verimatrix SA worth?
The market values Verimatrix SA at about €27.0M (market capitalisation, as of Jul 31, 2026). Per share that is €0.3080; our models calculate a fair value of €0.4500 per share.
What do the bullish and bearish scenarios say about 0QAU?
Our models span a range for Verimatrix SA: cautious scenario €0.3400, base €0.4500, optimistic €0.6800 per share (as of Jul 31, 2026, price €0.3080). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0QAU from its 52-week high?
Verimatrix SA trades at €0.3080, about 17% below its 52-week high of €0.3690 and 109% above the low of €0.1475 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €0.4500 is for.
Which stocks are comparable to Verimatrix SA?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, CrowdStrike Holdings, 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 Verimatrix SA stock attractive at the current price?
The data as of Jul 31, 2026: price €0.3080, calculated fair value €0.4500 (+46%), Quality Score 35/100, 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 0QAU calculated?
We run Verimatrix SA through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €0.4500, 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 14.5 % above its aggregate fair value. Verimatrix SA currently trades 32 % 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 Verimatrix SA (0QAU)?
The latest price we hold is from Sep 24, 2026 and stands at €0.3080. Our model-based fair value is €0.4500, about +46% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Verimatrix SA right now?
The large discount to fair value meets weak quality (35/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€0.3400). The market is more pessimistic than our downside scenario. 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 (€0.3400 to €0.6800) leaves room in how you read the outcome.

Key figures of Verimatrix SA

How large is the market capitalisation of Verimatrix SA (0QAU)?
The market capitalisation of Verimatrix SA is €27.0M. 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/E ratio of Verimatrix SA (0QAU)?
The price-to-earnings ratio of Verimatrix SA is 0.1 (as of Jul 29, 2026). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Verimatrix SA (0QAU)?
The price-to-sales ratio of Verimatrix SA is 0.34 (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 Verimatrix SA (0QAU)?
Earnings per share at Verimatrix SA are €0.0380 (price ÷ EPS = P/E 0.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Verimatrix SA (0QAU)?
The net margin of Verimatrix SA is −37.9% (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 Verimatrix SA (0QAU)?
The return on equity (ROE) of Verimatrix SA is −39.8% (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 Verimatrix SA (0QAU)?
On an EBIT basis the return on assets of Verimatrix SA is −3.4% (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 Verimatrix SA (0QAU)?
The operating margin of Verimatrix SA is −7.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Verimatrix SA (0QAU)?
Revenue at Verimatrix SA is growing −18.2% versus a year earlier (3y avg −7.4%). 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 Verimatrix SA (0QAU) generate?
The free cash flow of Verimatrix SA is −€729K (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 Verimatrix SA (0QAU) carry?
The net debt of Verimatrix SA is €25.0M (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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