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Agfa-Gevaert NV (AGFB) Fair Value & Analysis

Industrials · BE · Market cap €62.2M

AG Agfa-Gevaert NV AGFB · BR
Price€0.3850
Fair Value€0.4078
Upside+5.9%
Quality49/100
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Weak Growth
Loss-making · -5.8% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/13)
Narrow moat 16/100
Evidence: Medium Range €0.2658 – €0.6156 Share as image

Fair value as of: Jul 18, 2026

From 13 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from €0.4092 to €0.4078 (−0.3%) since Jul 14, 2026. Share price −7.8% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (€0.2658 to €0.6156) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€4.55 €0.3700 Fair Value €0.4078 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range €0.3700 – €4.55 · fair‑value band €0.2658 – €0.6156 · the €0.3850 price screens below the €0.4078 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

Full chart & analysis →

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Analysis

Agfa-Gevaert NV (AGFB) currently trades at €0.3850, while our model-based Fair Value estimate is €0.4078, implying the stock looks roughly 5.9% fairly valued today. The Quality Score stands at 49/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Agfa-Gevaert NV generated revenue of €1.1B at a net margin of -5.8%. Revenue declined 2.5% year over year. It earns a return on equity of -18.2%. Net debt stands at €78.0M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €0.2658 (bear case) to €0.6156 (bull case); at €0.3850, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 67% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at 6%, AGFB screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €1.40 €1.77 €2.31 80
Rev-Margin DCF €1.94 €3.02 €4.33 74
ROIC Compounder €1.72 €1.96 €2.20 72
All 13 models by family
DCF Models
FCF DCF €1.36 €1.75 €2.38 38
5Y Revenue Exit €1.94 €2.98 €4.49 39
5Y EBITDA Exit €3.14 €5.06 €7.59 41
10Y Revenue Exit €1.60 €2.26 €2.96 36
10Y EBITDA Exit €2.28 €3.35 €4.52 37
Earnings-Based
EPV €1.72 €1.94 €2.12 59
Multiples
EV/EBIT €3.82 €5.14 €6.46 53
EV/EBITDA €5.57 €7.47 €9.37 54
EV/Revenue €2.69 €3.90 €5.11 43
Asset-Based
NCAV (Graham) €0.8200 €1.10 €1.64 50
Growth DCF
Growth DCF €1.40 €1.77 €2.31 80
Rev-Margin DCF €1.94 €3.02 €4.33 74
Economic Profit
ROIC Compounder €1.72 €1.96 €2.20 72

Widest divergence: Multiples (€5.14) versus Asset-Based (€1.10). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €1.1B
Revenue growth (YoY) -2.5%
Net margin -5.8%
Return on equity -18.2%
Free cash flow €32.0M FY2025
Operating margin -1.7%
More key figures
EPS (TTM) €-0.3300
EPS growth (YoY) +533%
Net debt €78.0M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 48 · Market factors (momentum, volatility) 26

Profitability 22
Margins and returns on capital today
Quality Growth 53
Are margins and returns improving?
Cashflow 27
Earnings quality: real cash, not paper profit
Fin. Strength 39
Balance sheet, leverage, solvency risk
Investment 98
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 13
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 85
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Agfa-Gevaert NV develops, manufactures, and markets various analog and digital systems in Belgium and internationally. The company provides healthcare's enterprise imaging platform.

Full company description

Agfa-Gevaert NV develops, manufactures, and markets various analog and digital systems in Belgium and internationally. The company provides healthcare's enterprise imaging platform. It also offers printers, inks, and software for sign and display and packaging printing companies; inkjet inks and fluids for various industrial inkjet applications, such as signs, displays, billboards, promotional materials, packaging, leather goods, laminated flooring, and decorative materials, as well as for printed electronics industry; electrolysis membranes to the hydrogen production industry; and printable synthetic papers and films for graphics, non-destructive testing, aerial photography, and printed circuit board production. In addition, it provides analog and digital imaging technology for diagnostic imaging market to meet the needs of specialized clinicians in hospitals and imaging centers; and X-ray film, hardcopy film and printers, digital radiography equipment, and image processing software. Further, it offers SmartXR that provides radiographers with predictive workflow assistance which includes digital radiography tools for dose, alignment, patient positioning, image rotation, and others. Additionally, the company engages in supply of film and chemicals, as well support services. It sells its products through its own sales organization, as well as through a network of agents and representatives. Agfa-Gevaert NV was founded in 1867 and is headquartered in Mortsel, Belgium.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Agfa-Gevaert NV reported revenue of €1.1B in FY2025 versus €1.8B in FY2021, a compound −11.4%/yr. Reported net income was −€71.0M in FY2025.

Growth Quality 18/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€1.1B
Latest YoY
−4.6%
Avg. growth/yr (3Y)
−16.4%
Avg. growth/yr (5Y)
−8.7%
Avg. growth/yr (25Y)
−6.1%
Revenue −11.4%/yr
FY21 €1.8B
FY22 €1.9B
FY23 €1.2B
FY24 €1.1B
FY25 €1.1B
Net income
FY21 −€14.0M
FY22 −€223M
FY23 −€102M
FY24 −€92.0M
FY25 −€71.0M

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Cite: Fair Value Calculator (2026). "Agfa-Gevaert NV Fair Value". https://www.fairvalue-calculator.com/stock/AGFB

Peer Group

Specialty Industrial Machinery · 809 stocks

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.

Quality Score 49 · Below median
Fair Value upside +7% · Top 25%
Return on assets -0% · Bottom 25%
Net margin (TTM) -6% · Bottom 25%
Operating margin (TTM) -2% · Bottom 25%
Revenue growth -3% · Below median
Debt / equity 0.44× · Higher than 75% of peers

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/B 0.28× · Cheaper than 75% of peers
P/S (TTM) 0.07× · Cheaper than 75% of peers
P/FCF 2.2× · Cheaper than median
EV/EBITDA 6.6× · Cheaper than 75% of peers
PEG 0.10× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 42 · sector 0
FUTURE 0 · sector 23
PAST 0 · sector 28
HEALTH 78 · sector 96
DIVIDEND 0 · sector 24

Insider activity: 42/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is Agfa-Gevaert NV (AGFB) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €0.4078 versus a price of €0.3850, about +6% (fairly valued).
What is the fair value of AGFB?
Our model-based fair value for Agfa-Gevaert NV is €0.4078 (as of Jul 18, 2026), built from audited fundamentals. The current price is €0.3850.
What is the quality score of AGFB?
Agfa-Gevaert NV has a Quality Score of 49/100. 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 revenue of Agfa-Gevaert NV (AGFB)?
Agfa-Gevaert NV reported trailing-twelve-month revenue of about €1.1B (latest available figure, as of Jul 18, 2026).
What is the net profit margin of AGFB?
The net profit margin of Agfa-Gevaert NV is about -5.8%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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