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Adeunis (ALARF) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Adeunis €1.06, price €0.84, upside +26.6%, quality 30 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 · FR · ISIN FR0013284627

A Thin data Sep 23, 2026

Adeunis

ALARF · PA

SpeculativeUpside exists, but weak quality makes the signal speculative.

✓Fair value €1.06 · Undervalued (+27%)
!Quality 30/100
!Weak Growth (revenue 5y −3.8 %/yr)
!Loss-making · -63.2% net margin (TTM)
✓Negative equity (buybacks among others) · generates free cash flow
!Trails peers (2/8)
!Narrow moat 10/100
!Evidence only low, so the estimate is less certain
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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

€2.64 €0.1668 Fair Value €1.06 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range €0.1668 – €2.64 · fair‑value band €0.7395 – €1.59 · the €0.8400 price screens below the €1.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Adeunis designs, manufactures, and markets products and solutions for Internet of Things (IoT) business and connected objects in France.

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Adeunis designs, manufactures, and markets products and solutions for Internet of Things (IoT) business and connected objects in France. The company offers wireless sensors and cellular IoT sensors; cellular connectivity solutions for IoT projects; near field communication (NFC) configurators for IoT sensors; device management solutions for cellular IoT sensors; and IoT solutions for smart buildings comprises office buildings, collective housing, health establishment, industrial buildings, schools, commercial buildings, and accommodation and catering. It also provides on-site radio mapping, on-site deployment, training, data processing, sensor maintenance, and data decoding services; and sensors setup services. In addition, the company assists in private and public networks; and KARE/KARE+, a device management platform that allows to maintain in operational conditions. It is also involved in exporting activities. The company is headquartered in Crolles, France. As of December 15, 2023, Adeunis operates as a subsidiary of Webdyn S.A.

Stock analysis

Adeunis (ALARF) currently trades at €0.8400, while our model-based Fair Value estimate is €1.06, implying the stock looks roughly 21.0% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of €1.25 per share, and 6 of the 6 models we run sit above the €0.8400 price.

Bear case: the Multiples group reads lowest at €1.20, and 0 of the 6 models stay below the price. Evidence for this calculation is low.

Scenario range: €0.7395 (bear) to €1.59 (bull), the price of €0.8400 sits inside 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 30/100 (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.

Adeunis reported revenue of €4.4M in FY2026 versus €6.2M in FY2022, a compound −8.2%/yr. Reported net income was −€2.8M in FY2026.

Key figures

Market cap €3.8M · P/S ratio 0.87 · EPS (TTM) €−0.6000 · Net margin −63.5% · Return on equity −102% · Return on assets (EBIT) −28.9% · Operating margin −71.4% · Revenue (TTM) €4.4M.

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 7% below its 52-week high and 66% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −62% fair-value upside, at 27%, ALARF screens cheaper than that median.

Fair Value models

Bear €0.7395 Fair Value €1.06 Bull €1.59
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. 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. 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
FCF DCF €0.9600 €1.37 €2.11 80
Growth DCF €1.01 €1.41 €2.06 78
5Y Revenue Exit €0.8100 €1.23 €1.83 72
All 6 models by family
DCF Models
FCF DCF €0.9600 €1.37 €2.11 80
5Y Revenue Exit €0.8100 €1.23 €1.83 72
10Y Revenue Exit €0.8400 €1.15 €1.48 68
Multiples
EV/Revenue €0.7900 €1.20 €1.61 53
Growth DCF
Growth DCF €1.01 €1.41 €2.06 78
Rev-Margin DCF €0.8100 €1.25 €1.80 72

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Quality Score breakdown

Overall quality 30/100

Of which business quality 33 · Market factors (momentum, volatility) 69

Profitability 22
Margins and returns on capital today
Quality Growth 11
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 10
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 73
Price trend over the last 3–12 months (market factor)
52W Momentum 85
Distance to the 52-week high (market factor)
Net Issuance 0
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. 23/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−27.6%
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.
−7.1%
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.
−3.8%
Start year 2021 (pandemic). Over 10 years: −7.1% a year
Revenue growth 11 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%
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.
−11.4% (2021) → −62.8% (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

Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
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).
−1.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −4.0% a year for the price.

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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.Communication Equipment · 316 stocks

Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 30 · Bottom 25%
Fair Value upside +27% · Top 25%
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −34% · Bottom 25%
Net margin (TTM) −63% · Bottom 25%
Operating margin (TTM) −71% · Bottom 25%
Growth and dividend
Revenue growth −22% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Communication Equipment median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 1.00× · Cheaper than median
P/FCF 9.1× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)69 · sector 0
FUTURE (revenue growth)0 · sector 37
PAST (return on equity)0 · sector 15
HEALTH (low debt)0 · sector 98
DIVIDEND (yield)0 · sector 23

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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 Communication Equipment stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $106.44 $117.08 +10%
Zhongji Innolight Co 300308 ¥927.72 ¥349.40 −62%
Foxconn Industrial Internet Co 601138 ¥62.98 ¥14.18 −77%
Eoptolink Technology Inc 300502 ¥455.00 ¥329.86 −28%
Nokia Oyj NOK $10.63 $3.71 −65%
Motorola Solutions, Inc MSI $460.44 $248.10 −46%
Ciena Corporation CIEN $368.56 $48.80 −87%
Suzhou TFC Optical Communication Co 300394 ¥275.84 ¥87.34 −68%
Yangtze Optical Fibre And Cable Joint Stock Limited 6869 HK$190.50 HK$32.70 −83%
Accton Technology Corporation 2345 1,895 TWD 2,085 TWD +10%

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Adeunis · Fair Value
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Cite: Fair Value Calculator (2026). "Adeunis Fair Value". https://www.fairvalue-calculator.com/stock/ALARF

Frequently asked questions

Is Adeunis (ALARF) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €1.06 versus a price of €0.8400, about +27% upside (undervalued).
What is the fair value of ALARF?
Our model-based fair value for Adeunis is €1.06 (as of Sep 23, 2026), built from audited fundamentals. The current price: €0.8400.
What is the quality score of ALARF?
Adeunis has a Quality Score of 30/100. 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 Adeunis (ALARF)?
Our model-based price target is the fair value of €1.06 (as of Sep 23, 2026) from 6 valuation models. Cautious scenario €0.7395, optimistic scenario €1.59. It is a calculation from audited fundamentals, not an analyst target.
What is the Adeunis stock forecast for 2026?
Our models put fair value at €1.06, about +27% upside versus a price of €0.8400 (undervalued). Cautious scenario €0.7395, optimistic scenario €1.59. The calculation is refreshed regularly with new filings.
What is the revenue of Adeunis (ALARF)?
Adeunis reported trailing-twelve-month revenue of about €4.4M (latest available figure, as of Sep 23, 2026).
What growth is priced into Adeunis (ALARF)?
For today's price to be fair in a discounted-cash-flow model, Adeunis would have to grow free cash flow by -1.9 % per year for five years (discount rate 9.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -3.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of ALARF use?
Our models discount Adeunis at 9.0 %: a base by market capitalisation (nano), damped by beta 0.22, country premium for France. 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 Adeunis that is -1.9 % per year a year over ten years, using the same discount rate (9.0 %) and the same formula as our fair value.
How much growth has Adeunis (ALARF) delivered so far?
Over the past 5 years revenue at Adeunis grew -3.8 % a year. The price currently implies -1.9 % per year free-cash-flow growth a 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 Adeunis (ALARF) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Adeunis (-1.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Adeunis (ALARF)?
The free-cash-flow yield on the price is 12.51 %: that much free cash flow Adeunis produces per unit of market value. When it exceeds the discount rate of our models (9.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Adeunis (ALARF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Adeunis it is €1.06 per share (as of Sep 23, 2026), against a price of €0.8400. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Adeunis stock overvalued or undervalued in 2026?
As of Sep 23, 2026, ALARF trades below its calculated fair value: price €0.8400, fair value €1.06, a gap of about +27% (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 ALARF?
No. The price is what the market pays today (€0.8400); the fair value is what the company's own numbers justify (€1.06). For Adeunis the two are €0.2230 per share apart. That gap is exactly why we show both numbers side by side.
How much is Adeunis worth?
The market values Adeunis at about €3.8M (market capitalisation, as of Sep 23, 2026). Per share that is €0.8400; our models calculate a fair value of €1.06 per share.
What do the bullish and bearish scenarios say about ALARF?
Our models span a range for Adeunis: cautious scenario €0.7395, base €1.06, optimistic €1.59 per share (as of Sep 23, 2026, price €0.8400). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Adeunis (ALARF)?
Balance-sheet figures for Adeunis (as of Sep 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is ALARF from its 52-week high?
Adeunis trades at €0.8400, about 7% below its 52-week high of €0.9000 and 66% above the low of €0.5050 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €1.06 is for.
Which stocks are comparable to Adeunis?
From the same area (Technology) we also value Cisco Systems, Inc, Zhongji Innolight Co, Foxconn Industrial Internet Co, Eoptolink Technology 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 Adeunis stock attractive at the current price?
The data as of Sep 23, 2026: price €0.8400, calculated fair value €1.06 (+27%), Quality Score 30/100, from 6 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 ALARF calculated?
We run Adeunis through 6 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 €1.06, 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 13.0 % above its aggregate fair value. Adeunis currently trades 27 % 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 Adeunis (ALARF)?
The closing price on Sep 24, 2026 was €0.8400. Our model-based fair value is €1.06, about +27% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Adeunis right now?
A fairly wide model range (€0.7395 to €1.59) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Adeunis

How large is the market capitalisation of Adeunis (ALARF)?
The market capitalisation of Adeunis is €3.8M. 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 Adeunis (ALARF)?
The price-to-sales ratio of Adeunis is 0.87 (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 Adeunis (ALARF)?
Earnings per share at Adeunis are €−0.6000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Adeunis (ALARF)?
The net margin of Adeunis is −63.5% (fiscal year 2026). 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 Adeunis (ALARF)?
The return on equity (ROE) of Adeunis is −102% (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 Adeunis (ALARF)?
On an EBIT basis the return on assets of Adeunis is −28.9% (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 Adeunis (ALARF)?
The operating margin of Adeunis is −71.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Adeunis (ALARF)?
Revenue at Adeunis is growing −22.3% versus a year earlier (3y avg −7.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Adeunis (ALARF)?
Earnings per share at Adeunis are growing −91.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Adeunis (ALARF) carry?
The net debt of Adeunis is €766K (fiscal year 2026, ≈ 1.6 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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