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Hexaom S.A (ALHEX) Fair Value & Analysis

Consumer Cyclical · FR · Market cap €203M

HS Hexaom S.A ALHEX · PA
Price€29.00
Fair Value€44.92
Upside+54.9%
Quality51/100
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Mixed Growth
Thin margins · 2.3% net margin
Low debt · generates free cash flow
2.69% dividend yield
Trails peers (5/15)
Narrow moat 33/100
Evidence: High Range €33.69 – €56.15 Share as image

Fair value as of: Jul 12, 2026

From 24 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from €45.98 to €44.92 (−2.3%) since Jun 24, 2026. Share price −0.7% over the past month.

A solid business, screening 55% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€33.69). The market is more pessimistic than our downside scenario.
  • Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€47.51 €12.41 Fair Value €44.92 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range €12.41 – €47.51 · fair‑value band €33.69 – €56.15 · the €29.00 price screens below the €44.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

Hexaom S.A (ALHEX) currently trades at €29.00, while our model-based Fair Value estimate is €44.92, implying the stock looks roughly 54.9% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Consumer Cyclical 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, Hexaom S.A generated revenue of €616M at a net margin of 2.3%. Revenue declined 26.5% year over year. It earns a return on equity of 6.1%. The balance sheet holds a net cash position of €36.1M. Fundamentals as of Jul 12, 2026

Our scenario range runs from €33.69 (bear case) to €56.15 (bull case); at €29.00, the current price sits below 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 21% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 44% fair-value upside, at 55%, ALHEX 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 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
Highest evidence
Growth DCF €26.56 €29.32 €33.06 80
Residual Income €24.46 €24.06 €21.13 76
Rev-Margin DCF €36.57 €49.06 €63.38 74
All 24 models by family
DCF Models
FCF DCF €26.35 €29.31 €33.59 38
Owner Earnings €40.16 €46.53 €55.71 31
5Y Revenue Exit €36.57 €48.90 €65.70 39
5Y EBITDA Exit €43.36 €60.56 €81.76 41
5Y P/E Exit €35.54 €47.13 €59.89 38
10Y Revenue Exit €30.97 €39.88 €50.43 36
10Y EBITDA Exit €35.23 €46.49 €59.75 37
10Y P/E Exit €31.10 €38.87 €47.06 35
Earnings-Based
Graham-Dodd €13.88 €25.79 €32.00 54
EPV €35.03 €37.52 €39.54 59
Dividend Discount
Gordon GGM €3.41 €4.25 €4.98 70
DDM Multi-Stage €3.41 €4.32 €5.20 61
Multiples
P/E Multiple €33.69 €44.92 €56.15 63
P/S Multiple €26.03 €34.71 €43.39 58
P/B Multiple €26.03 €34.71 €43.39 55
EV/EBIT €64.02 €80.59 €97.16 53
EV/EBITDA €64.80 €81.63 €98.46 54
EV/Revenue €47.81 €62.18 €76.54 43
Asset-Based
NCAV (Graham) €17.37 €23.28 €34.75 50
Growth DCF
Growth DCF €26.56 €29.32 €33.06 80
Rev-Margin DCF €36.57 €49.06 €63.38 74
Economic Profit
Residual Income €24.46 €24.06 €21.13 76
ROIC Compounder €35.05 €37.87 €40.49 72
Growth Earnings
Growth-Adj P/E €23.93 €34.19 €44.44 68

Widest divergence: DCF Models (€46.49) versus Dividend Discount (€4.25). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €616M
Revenue growth (YoY) -26.5%
Net margin 2.3%
Return on equity 6.1%
Free cash flow €10.9M FY2025
P/E ratio 14.5
More key figures
Operating margin 4.0%
EPS (TTM) €2.04
Dividend yield 2.7%
EPS growth (YoY) -48.5%
Net cash €36.1M FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 50 · Market factors (momentum, volatility) 39

Profitability 33
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 37
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 54
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 74
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

Hexaom S.A. engages in the land and real estate development, construction, and renovation businesses in France. The company was incorporated in 1919 and is headquartered in Alençon, France. Hexaom S.A. is a subsidiary of MFC Prou-Investissements SAS.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Hexaom S.A reported revenue of €616M in FY2025 versus €997M in FY2021, a compound −11.3%/yr. Reported net income was €14.0M in FY2025, compounding −10.3%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€616M
Avg. growth/yr (3Y) 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.
−9.9%
Avg. growth/yr (5Y) 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.
−2.8%
Avg. growth/yr (20Y) 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.
+5.1%
Revenue −11.3%/yr
FY21 €997M
FY22 €1.1B
FY23 €1.0B
FY24 €729M
FY25 €616M
Net income −10.3%/yr
FY21 €21.6M
FY22 −€32.9M
FY23 €32.8M
FY24 €14.1M
FY25 €14.0M
Character of growth · EPS growth decomposed (2014-2025) +6.6 % p.a.
Revenue per share +4.1 pp

of which total revenue +4.2 pp · buybacks/dilution −0.1 pp

EBIT margin +0.5 pp
Tax rate +3.1 pp
Residual (interest, one-offs) −1.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Hexaom S.A Fair Value". https://www.fairvalue-calculator.com/stock/ALHEX

Peer Group

Residential Construction · 65 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 51 · Below median
Fair Value upside +55% · Above median
Return on equity (TTM) 6% · Below median
Return on assets 3% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 4% · Below median
Revenue growth -27% · Bottom 25%
Dividend yield (TTM) 2.7% · Above median
Debt / equity 0.18× · Lower than median

Valuation Multiples vs Residential Construction median · lower = cheaper

P/E (TTM) 14.5× · Pricier than median
P/B 0.98× · Pricier than median
P/S (TTM) 0.38× · Cheaper than median
P/FCF 21.5× · Pricier than 75% of peers
EV/EBITDA 4.3× · Cheaper than 75% of peers
PEG 7.63× · Pricier 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 100 · sector 51
FUTURE 0 · sector 0
PAST 24 · sector 33
HEALTH 91 · sector 88
DIVIDEND 54 · sector 54

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.

Similar stocks

10 more Residential Construction stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
D.R. Horton, Inc DHI $149.39 $214.93 +44%
PulteGroup, Inc PHM $124.75 $193.56 +55%
Lennar Corporation LEN $83.89 $146.58 +75%
NVR, Inc NVR $6,479 $7,821 +21%
Toll Brothers, Inc TOL $150.76 $225.76 +50%
Taylor Morrison Home Corporation TMHC $72.13 $144.47 +100%
Installed Building Products, Inc IBP $228.65 $209.51 -8%
Meritage Homes Corporation MTH $73.83 $104.26 +41%
Champion Homes, Inc SKY $82.70 $75.12 -9%
Cavco Industries, Inc CVCO $569.16 $421.10 -26%

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Frequently asked questions

Is Hexaom S.A (ALHEX) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of €44.92 versus a price of €29.00, about +55% (undervalued).
What is the fair value of ALHEX?
Our model-based fair value for Hexaom S.A is €44.92 (as of Jul 12, 2026), built from audited fundamentals. The current price is €29.00.
What is the quality score of ALHEX?
Hexaom S.A has a Quality Score of 51/100. 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 Hexaom S.A (ALHEX)?
Hexaom S.A reported trailing-twelve-month revenue of about €616M (latest available figure, as of Jul 12, 2026).
What is the net profit margin of ALHEX?
The net profit margin of Hexaom S.A is about 2.3%, meaning it keeps roughly 2.3% of revenue as net income. Based on the latest reported figures.
Does Hexaom S.A pay a dividend?
Hexaom S.A currently shows a dividend yield of about 2.48% relative to its recent price (as of Jul 12, 2026).

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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