2CRSI S.A. (AL2SI) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of 2CRSI S.A. stock €1.94, price €17.87, that is 89.2% below the price, quality 43 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range €0.7127 – €58.45 · fair‑value band €0.7650 – €2.81 · the €17.87 price screens above the €1.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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2CRSI S.A., together with its subsidiaries, develops, manufactures, and distributes end-to-end computing solutions in France and internationally.
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The company offers servers and accessories, such as GPU and AI servers, mainstream compute servers, high density servers, rugged servers, and risers; OCP servers and racks, including OCtoPus 21 servers and rack solutions; and workstations comprising high performance workstations, rugged fanless computers, and microclusters.
It also provides air, direct liquid, and immersion cooling solutions; data science, as well as AI, ML, and DL HPC solutions; cloud solutions, computing, and gaming; and edge computing solutions. The company was founded in 2004 and is headquartered in Strasbourg, France.
Stock analysis
2CRSI S.A. (AL2SI) currently trades at €17.87, while our model-based Fair Value estimate is €1.94, 89% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of €3.52 per share, and 0 of the 22 models we run sit above the €17.87 price.
Bear case: the Growth DCF group reads lowest at €0.4300, and 22 of the 22 models stay below the price. Data coverage for this calculation is low.
Scenario range: €0.7650 (bear) to €2.81 (bull), the price of €17.87 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 43/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
2CRSI S.A. reported revenue of €221M in FY2025 versus €163M in FY2021, a compound +7.8%/yr. Reported net income was €2.1M in FY2025.
Key figures
Market cap €622M Small · P/E ratio 49.6 · P/S ratio 1.53 · EPS (TTM) €0.3600 · Net margin 2.0% · Return on equity 24.1% · Return on assets (EBIT) −1.1% · Operating margin 3.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 69% below its 52-week high and 73% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −10% fair-value upside, at −89%, AL2SI screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (€0.0500 to €6.22). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear€0.7650Fair Value €1.94Bull€2.81
Price €17.87 · Downside -89.2%
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. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then (€0.3600 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.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€0.3000€0.4100€0.750078
Growth DCF€0.2800€0.4300€0.700077
Residual Income€0.9000€0.8900€0.940076
All 22 models by family
DCF Models
FCF DCF€0.3000€0.4100€0.750078
Owner Earnings€1.57€2.97€5.2773
5Y Revenue Exit€0.2400€0.4100€0.760069
5Y EBITDA Exit€1.72€3.39€6.6771
5Y P/E Exit€1.28€3.17€5.8067
10Y Revenue Exit€0.2500€0.5200€0.660066
10Y EBITDA Exit€1.11€3.02€6.4962
10Y P/E Exit€0.8600€2.28€4.6859
Earnings-Based
Graham-Dodd€0.6400€4.47€6.2763
Lynch FV€1.72€2.45€3.1961
PEG = 1.0€1.72€2.45€3.1957
EPV€0.0400€0.0500€0.060074
Multiples
P/E Multiple€1.98€2.64€3.3063
P/S Multiple€1.20€1.60€2.0058
P/B Multiple€4.66€6.22€7.7755
EV/EBITn/a€0.0700€0.220061
EV/EBITDA€2.19€3.09€4.0067
Asset-Based
NCAV (Graham)€0.3700€0.5700€0.710054
Growth DCF
Growth DCF€0.2800€0.4300€0.700077
Economic Profit
Residual Income€0.9000€0.8900€0.940076
ROIC Compounder€0.0400€0.0500€0.060072
Growth Earnings
Growth-Adj P/E€2.46€3.52€4.5767
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.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+68.4%
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.
+6.3%
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.
+27.3%
Start year 2020 (pandemic)
Revenue growth 8 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.
+44.9%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−21.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−21.7%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.−11% → 0%
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.Computer Hardware · 212 stocks
Beats the industry median on 2/12 measures
Overall it trails its industry peers.
Valuation
Quality Score43 · Bottom 25%
Fair Value upside−89.2% · Bottom 25%
Profitability
Return on equity (12 months)24.1% · Top 25%
Return on assets2.4% · Below median
Net margin (12 months)2.0% · Below median
Operating margin (12 months)3.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)877.1% · Top 25%
Balance sheet
Debt / equity0.07× · Above median
Valuation Multiplesvs Computer Hardware median · lower = cheaper
P/E (12 months)49.6× · Priciest 25%
P/B21.29× · Priciest 25%
P/S (12 months)1.53× · Pricier than median
EV/EBITDA62.6× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 3
FUTURE (revenue growth)100· sector 79
PAST (return on equity)97· sector 32
HEALTH (low debt)97· sector 97
DIVIDEND (yield)0· sector 46
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). "2CRSI S.A. Fair Value". https://www.fairvalue-calculator.com/stock/AL2SI
Frequently asked questions
Is 2CRSI S.A. (AL2SI) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of €1.94 versus a price of €17.87, about 89% lower (overvalued).
What is the fair value of AL2SI?
Our model-based fair value for 2CRSI S.A. is €1.94 (as of Nov 5, 2026), built from audited fundamentals. The current price: €17.87.
What is the quality score of AL2SI?
2CRSI S.A. has a Quality Score of 43/100. 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 2CRSI S.A. (AL2SI)?
Our model-based price target is the fair value of €1.94 (as of Nov 5, 2026) from 22 valuation models. Cautious scenario €0.7650, optimistic scenario €2.81. It is a calculation from audited fundamentals, not an analyst target.
What is the 2CRSI S.A. stock forecast for 2026?
Our models put fair value at €1.94, about 89% lower versus a price of €17.87 (overvalued). Cautious scenario €0.7650, optimistic scenario €2.81. The calculation is refreshed regularly with new filings.
What is the revenue of 2CRSI S.A. (AL2SI)?
2CRSI S.A. reported trailing-twelve-month revenue of about €405M (latest available figure, as of Nov 5, 2026).
What is the intrinsic value of 2CRSI S.A. (AL2SI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For 2CRSI S.A. it is €1.94 per share (as of Nov 5, 2026), against a price of €17.87. It is the blended result of 22 valuation models (cash flow, earnings, asset, dividend).
Is 2CRSI S.A. stock overvalued or undervalued in 2026?
As of Nov 5, 2026, AL2SI trades above its calculated fair value: price €17.87, fair value €1.94, a gap of about −89% (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 AL2SI?
No. The price is what the market pays today (€17.87); the fair value is what the company's own numbers justify (€1.94). For 2CRSI S.A. the two are €15.93 per share apart. That gap is exactly why we show both numbers side by side.
How much is 2CRSI S.A. worth?
The market values 2CRSI S.A. at about €622M (market capitalisation, as of Nov 5, 2026). Per share that is €17.87; our models calculate a fair value of €1.94 per share.
What do the bullish and bearish scenarios say about AL2SI?
Our models span a range for 2CRSI S.A.: cautious scenario €0.7650, base €1.94, optimistic €2.81 per share (as of Nov 5, 2026, price €17.87). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AL2SI?
2CRSI S.A. trades at a price-to-earnings ratio of 49.6 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €1.94 is built from several models across several years. Other multiples: P/B 21.3, P/S 1.5, EV/EBITDA 62.6.
How solid is the balance sheet of 2CRSI S.A. (AL2SI)?
Balance-sheet figures for 2CRSI S.A. (as of Nov 5, 2026): return on equity 24.1%, debt of 0.07 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is AL2SI from its 52-week high?
2CRSI S.A. trades at €17.87, about 69% below its 52-week high of €58.45 and 73% above the low of €10.34 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of €1.94 is for.
Which stocks are comparable to 2CRSI S.A.?
From the same area (Technology) we also value Dell Technologies Inc, Arista Networks, Inc, Sandisk Corporation, Seagate Technology 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 2CRSI S.A. stock attractive at the current price?
The data as of Nov 5, 2026: price €17.87, calculated fair value €1.94 (−89%), Quality Score 43/100, from 22 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 AL2SI calculated?
We run 2CRSI S.A. through 22 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 €1.94, 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 15.0% above its aggregate fair value. 2CRSI S.A. 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 2CRSI S.A. (AL2SI)?
The closing price on Nov 4, 2026 was €17.87. Our model-based fair value is €1.94, about 89% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with 2CRSI S.A. right now?
The price sits above even our optimistic bull case (€2.81). The favourable scenario is already priced in. Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (€0.7650 to €2.81). 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.
Key figures of 2CRSI S.A.
How large is the market capitalisation of 2CRSI S.A. (AL2SI)?
The market capitalisation of 2CRSI S.A. is €622M. 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 2CRSI S.A. (AL2SI)?
The price-to-sales ratio of 2CRSI S.A. is 1.53 (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 2CRSI S.A. (AL2SI)?
Earnings per share at 2CRSI S.A. are €0.3600 (price ÷ EPS = P/E 49.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of 2CRSI S.A. (AL2SI)?
The net margin of 2CRSI S.A. is 2.0% (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 2CRSI S.A. (AL2SI)?
The return on equity (ROE) of 2CRSI S.A. is 24.1% (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 2CRSI S.A. (AL2SI)?
On an EBIT basis the return on assets of 2CRSI S.A. is −1.1% (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 2CRSI S.A. (AL2SI)?
The operating margin of 2CRSI S.A. is 3.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at 2CRSI S.A. (AL2SI)?
Revenue at 2CRSI S.A. is growing +877% versus a year earlier (3y avg +6.3%). 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 2CRSI S.A. (AL2SI) generate?
The free cash flow of 2CRSI S.A. is €331K (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 2CRSI S.A. (AL2SI) carry?
The net debt of 2CRSI S.A. is €11.8M (fiscal year 2025, ≈ 35.5 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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Thin data
Nov 5, 2026