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Dolfines SAS (ALDOL) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Dolfines SAS stock €1.41, price €0.92, upside +53.3%, quality 49 out of 100. Rating: strongly undervalued. Calculated from audited financials with 7 of our 26 valuation models and 37 quality factors, updated daily.

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Energy FR · ISIN FR0014004QZ9

DS Dolfines SAS logo Thin data Nov 7, 2026

Dolfines SAS

ALDOL · PA
Cheap, value-trap risk

The stock costs 35% less than our calculation considers fair.

Fair value €1.41 · Strongly undervalued
Solidly profitable · 15.7% net margin (TTM)
Low debt
Ranks above peers (6/10)
Even on cautious assumptions the value is 24% above the price (€1.14).
Quality 49/100
Mixed Growth (revenue 5y +21.5 %/yr in EUR)
Moderate moat 48/100 · thin data
Thin data
⟳ Cyclical
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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

€3,200 €0.5000 Fair Value €1.41 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range €0.5000 – €3,200 · fair‑value band €1.14 – €1.75 · the €0.9200 price screens below the €1.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.

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Company profile

Dolfines SA operates as an engineering and services specialist company in France and internationally.

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It offers rig engineering services, including rig design, modification and upgrades, drilling/structural engineering, mechanical/electrical engineering, and offshore/marine engineering studies; drilling project management, such as well engineering, drilling supervision, drilling operations optimization, and rig, drilling operations, and integrated project management services; technical services comprising rig commissioning, rig audits and recertification, BOP recertification, rig stacking/ reactivation, and subsea support; and inspection and audit services for oil and gas industry.

The company also provides project and contract management, quality and surveyance control, supervision of civil engineering works, and selection of lifting and transport equipment for offshore wind sector; and development and financing phase, during construction, throughout the operation of the farm, at the end of operation, and during commissioning services for onshore wind and solar industries.

In addition, it offers rig and well services for geothermal industries, such as well engineering and drilling supervision, rig commissioning prior to drilling start up, well control equipment, technical support and problem solving, inspection and revamping, and rig management services.

The company was formerly known as Dietswell S.A. and changed its name to Dolfines SA in October 2020. Dolfines SA was incorporated in 2000 and is headquartered in Montigny-Le-Bretonneux, France.

Stock analysis

Dolfines SAS (ALDOL) currently trades at €0.9200, while our model-based Fair Value estimate is €1.41, implying the stock looks roughly 35% undervalued today.

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Valuation

Bull case: the Growth DCF group reads highest at a median of €1.51 per share, and 6 of the 7 models we run sit above the €0.9200 price.

Bear case: the Asset-Based group reads lowest at €0.3100, and 1 of the 7 models stay below the price. Data coverage for this calculation is low.

Scenario range: €1.14 (bear) to €1.75 (bull), the price of €0.9200 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 49/100 (below-average quality), in the Energy sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Dolfines SAS reported revenue of €6.8M in FY2026 versus €3.9M in FY2022, a compound +14.6%/yr. Reported net income was −€651K in FY2026.

Key figures

Market cap €2.2M Micro · P/S ratio 0.44 · EPS (TTM) €−0.2600 · Net margin −9.6% · Return on equity 27.4% · Return on assets (EBIT) −7.5% (5-year average) · Operating margin −21.6% · Revenue (TTM) €4.9M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades about 44% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Energy peers we cover trades at −32% fair-value upside, at 53%, ALDOL screens cheaper than that median.

Fair Value models

Bear €1.14 Fair Value €1.41 Bull €1.75
Price €0.9200 · Upside +53.3%
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. 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 €1.28 €1.63 €2.09 82
Growth DCF €1.30 €1.61 €2.01 79
5Y Revenue Exit €1.08 €1.38 €1.75 74
All 7 models by family
DCF Models
FCF DCF €1.28 €1.63 €2.09 82
5Y Revenue Exit €1.08 €1.38 €1.75 74
10Y Revenue Exit €1.14 €1.41 €1.75 68
Multiples
EV/Revenue €0.7100 €0.9700 €1.22 54
Asset-Based
NCAV (Graham) €0.2100 €0.3100 €0.3900 55
Growth DCF
Growth DCF €1.30 €1.61 €2.01 79
Rev-Margin DCF €1.08 €1.40 €1.74 74

Open the full fair value analysis →

Quality Score breakdown

Overall quality 49/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 13
How much profit the company makes from its sales and capital
Quality Growth 40
Are margins and returns getting better?
Cashflow 61
Do the profits arrive as real cash?
Financial strength 64
Debt, balance sheet and risk of trouble
Investment 77
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 19
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 6
Distance to the 52-week high, does not count
New shares 40
Buys back shares or issues new ones?

Open the full quality analysis →

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. 86/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+43.4%
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.
+17.7%
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.
+21.5%
Start year 2021 (pandemic). Over 10 years: −13.3% a year
Revenue growth 26 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.
−0.3%
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.
−76.5% (2021) → −25.7% (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

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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.Oil & Gas Equipment & Services · 166 stocks

Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside +53.3% · Top 25%
Profitability
Return on equity (12 months) 27.4% · Top 25%
Return on assets −8.3% · Bottom 25%
Net margin (12 months) 15.7% · Top 25%
Operating margin (12 months) −21.6% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −16.5% · Bottom 25%
Balance sheet
Debt / equity 0.12× · Below median

Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper

P/B 0.43× · Cheapest 25%
P/S (12 months) 0.45× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 23
FUTURE (revenue growth)0 · sector 36
PAST (return on equity)100 · sector 28
HEALTH (low debt)94 · sector 92
DIVIDEND (yield)0 · sector 44

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Gaztransport & Technigaz SA GTT €181.30 €199.62 +10% vs ALDOL
Yantai Jereh Oilfield Services Group 002353 ¥79.44 ¥87.38 +10% vs ALDOL
China Oilfield Services Limited 601808 ¥12.75 ¥13.04 +2% vs ALDOL
Subsea 7 S.A SUBC kr 304.80 kr 257.37 −16% vs ALDOL
Halliburton Company HAL $31.84 $21.72 −32% vs ALDOL
Baker Hughes Company BKR $47.87 $32.37 −32% vs ALDOL
Tenaris S.A TEN €26.64 €17.68 −34% vs ALDOL
Saipem SpA SPM €4.24 €2.72 −36% vs ALDOL
SLB N.V SLB $49.92 $29.03 −42% vs ALDOL
TechnipFMC plc FTI $63.52 $28.12 −56% vs ALDOL

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Dolfines SAS: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Dolfines SAS Fair Value". https://www.fairvalue-calculator.com/stock/ALDOL

Frequently asked questions

Is Dolfines SAS (ALDOL) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of €1.41 versus a price of €0.9200, about +53% upside (undervalued).
What is the fair value of ALDOL?
Our model-based fair value for Dolfines SAS is €1.41 (as of Nov 7, 2026), built from audited fundamentals. The current price: €0.9200.
What is the quality score of ALDOL?
Dolfines SAS 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 price target for Dolfines SAS (ALDOL)?
Our model-based price target is the fair value of €1.41 (as of Nov 7, 2026) from 7 valuation models. Cautious scenario €1.14, optimistic scenario €1.75. It is a calculation from audited fundamentals, not an analyst target.
What is the Dolfines SAS stock forecast for 2026?
Our models put fair value at €1.41, about +53% upside versus a price of €0.9200 (undervalued). Cautious scenario €1.14, optimistic scenario €1.75. The calculation is refreshed regularly with new filings.
What is the revenue of Dolfines SAS (ALDOL)?
Dolfines SAS reported trailing-twelve-month revenue of about €4.9M (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of Dolfines SAS (ALDOL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dolfines SAS it is €1.41 per share (as of Nov 7, 2026), against a price of €0.9200. It is the blended result of 7 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Dolfines SAS stock overvalued or undervalued in 2026?
As of Nov 7, 2026, ALDOL trades below its calculated fair value: price €0.9200, fair value €1.41, a gap of about +53% (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 ALDOL?
No. The price is what the market pays today (€0.9200); the fair value is what the company's own numbers justify (€1.41). For Dolfines SAS the two are €0.4900 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dolfines SAS worth?
The market values Dolfines SAS at about €2.2M (market capitalisation, as of Nov 7, 2026). Per share that is €0.9200; our models calculate a fair value of €1.41 per share.
What do the bullish and bearish scenarios say about ALDOL?
Our models span a range for Dolfines SAS: cautious scenario €1.14, base €1.41, optimistic €1.75 per share (as of Nov 7, 2026, price €0.9200). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Dolfines SAS (ALDOL)?
Balance-sheet figures for Dolfines SAS (as of Nov 7, 2026): return on equity 27.4%, debt of 0.12 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is ALDOL from its 52-week high?
Dolfines SAS trades at €0.9200, about 44% below its 52-week high of €1.65 and 12% above the low of €0.8240 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of €1.41 is for.
Which stocks are comparable to Dolfines SAS?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, Tenaris S.A, Halliburton Company, 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 Dolfines SAS stock attractive at the current price?
The data as of Nov 7, 2026: price €0.9200, calculated fair value €1.41 (+53%), Quality Score 49/100, from 7 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 ALDOL calculated?
We run Dolfines SAS through 7 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of €1.41 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Dolfines SAS currently trades 35% 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 Dolfines SAS (ALDOL)?
The closing price on Nov 6, 2026 was €0.9200. Our model-based fair value is €1.41, about +53% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dolfines SAS right now?
The large discount to fair value meets weak quality (49/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€1.14). 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.

Key figures of Dolfines SAS

How large is the market capitalisation of Dolfines SAS (ALDOL)?
The market capitalisation of Dolfines SAS is €2.2M. 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 Dolfines SAS (ALDOL)?
The price-to-sales ratio of Dolfines SAS is 0.44 (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 Dolfines SAS (ALDOL)?
Earnings per share at Dolfines SAS are €−0.2600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Dolfines SAS (ALDOL)?
The net margin of Dolfines SAS is −9.6% (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 Dolfines SAS (ALDOL)?
The return on equity (ROE) of Dolfines SAS is 27.4% (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 Dolfines SAS (ALDOL)?
On an EBIT basis the return on assets of Dolfines SAS is −7.5% (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 Dolfines SAS (ALDOL)?
The operating margin of Dolfines SAS is −21.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dolfines SAS (ALDOL)?
Revenue at Dolfines SAS is growing −16.5% versus a year earlier (3y avg +17.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net cash does Dolfines SAS (ALDOL) hold?
Dolfines SAS holds more cash than debt, €289K net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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