Cegedim SA (ALCGM) Fair Value & Analysis
Healthcare · Market cap €141M
Fair value as of: Jul 18, 2026
From 23 valuation models · updated 23 days ago
Fair value updated Jul 18, 2026, revised from €15.02 to €13.66 (−9.1%) since Jul 14, 2026. Share price +0.8% over the past month.
A solid business, screening 30% undervalued on our models.
What matters now
- Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
- Our model range runs from €9.59 (bear) to €17.07 (bull), base €13.66. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 50/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
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 €8.90 – €28.33 · fair‑value band €9.59 – €17.07 · the €10.54 price screens below the €13.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Cegedim SA (ALCGM) currently trades at €10.54, while our model-based Fair Value estimate is €13.66, implying the stock looks roughly 29.6% undervalued today. The Quality Score stands at 50/100 (solid quality), in the Healthcare 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: high), always confirm before acting.
Over the trailing twelve months, Cegedim SA generated revenue of €649M at a net margin of 1.5%. Revenue declined 2.6% year over year. It earns a return on equity of 2.9%. Net debt stands at €276M. Fundamentals as of Jul 18, 2026
Our scenario range runs from €9.59 (bear case) to €17.07 (bull case); at €10.54, 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 31% below its 52-week high and 24% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -53% fair-value upside, at 30%, ALCGM 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.
All 23 models by family
Widest divergence: Growth DCF (€32.07) versus Earnings-Based (€4.87). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 43
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
Cegedim SA operates as a technology and services company in the field of digital data flow management for healthcare ecosystem and B2B in France, rest of Europe, and internationally. It operates through Health Insurance, HR and E-Services; Healthcare Professionals; and Cloud & Support segments.
Full company description
Cegedim SA operates as a technology and services company in the field of digital data flow management for healthcare ecosystem and B2B in France, rest of Europe, and internationally. It operates through Health Insurance, HR and E-Services; Healthcare Professionals; and Cloud & Support segments. The Health Insurance, HR and E-Services segment markets various products and services to insurance companies, mutual insurers, personal protection insurers, and insurance brokers, as well as engages in the interactions between these entities and healthcare professionals. This segment also provides solutions for IT services and hosting, digitization, human resources and payroll management outsourcing, electronic data exchange, and data processing services. The Healthcare Professionals division sells management software, databases, and solutions to doctors, paramedical professionals, pharmacists, and healthcare facilities. It also operates as a business software publisher for healthcare and insurance professionals. The company was incorporated in 1969 and is headquartered in Boulogne-Billancourt, France. Cegedim SA is a subsidiary of FCB SAS.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Cegedim SA reported revenue of €649M in FY2025 versus €525M in FY2021, a compound +5.5%/yr. Reported net income was €9.4M in FY2025, compounding −22.6%/yr from FY2021.
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Peer Group
Health Information Services · 126 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.
Valuation Multiples vs Health Information Services median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Health Information Services stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veeva Systems Inc VEEV | $190.12 | $95.12 | -50% |
| Pro Medicus Limited PME | A$194.84 | A$23.74 | -88% |
| BrightSpring Health Services, Inc BTSG | $68.16 | $21.31 | -69% |
| HealthEquity, Inc HQY | $97.67 | $56.63 | -42% |
| Hinge Health, Inc HNGE | $88.80 | $24.03 | -73% |
| 10x Genomics, Inc TXG | $45.75 | $17.18 | -62% |
| Waystar Holding WAY | $22.69 | $12.86 | -43% |
| Doximity, Inc DOCS | $22.21 | $17.18 | -23% |
| Privia Health Group PRVA | $28.10 | $5.30 | -81% |
| Inventurus Knowledge Solutions Limited IKS | ₹1,846 | ₹860.28 | -53% |
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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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