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Herige SA (ALHRG) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Herige SA €29.72, price €18.10, upside +64.2%, quality 36 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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Basic Materials · FR · ISIN FR0000066540

HS Some data Sep 23, 2026

Herige SA

ALHRG · PA

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value €29.72 · Strongly undervalued (+64%)
!Quality 36/100
!Weak Growth (revenue 5y −8.8 %/yr)
!Loss-making · -2.0% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (4/13)
!Narrow moat 17/100
!Evidence only medium, 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

€44.78 €17.70 Fair Value €29.72 Aug 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 €17.70 – €44.78 · fair‑value band €19.72 – €39.72 · the €18.10 price screens below the €29.72 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

Herige engages in the production of ready-mixed and industrial precast concrete in France. The company also offers a multi-material range of joinery, shutters, entrance doors, garage doors, and gates, as well as landscaping products, blocks, and curbs. In addition, it is involved in timber construction activities.

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Herige engages in the production of ready-mixed and industrial precast concrete in France. The company also offers a multi-material range of joinery, shutters, entrance doors, garage doors, and gates, as well as landscaping products, blocks, and curbs. In addition, it is involved in timber construction activities. The company was formerly known as VM Matériaux and changed its name to Herige in May 2015. Herige was founded in 1907 and is headquartered in Montaigu-Vendée, France.

Stock analysis

Herige SA (ALHRG) currently trades at €18.10, while our model-based Fair Value estimate is €29.72, implying the stock looks roughly 39.1% undervalued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of €33.33 per share, and 2 of the 4 models we run sit above the €18.10 price.

Bear case: the Dividend Discount group reads lowest at €14.09, and 2 of the 4 models stay below the price. Evidence for this calculation is medium.

Scenario range: €19.72 (bear) to €39.72 (bull), the price of €18.10 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 36/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Herige SA reported revenue of €379M in FY2025 versus €712M in FY2021, a compound −14.6%/yr. Reported net income was −€7.8M in FY2025.

Key figures

Market cap €61.3M · P/S ratio 0.16 · EPS (TTM) €−2.71 · Dividend yield 8.8% · Net margin −2.0% · Return on equity −5.2% · Return on assets (EBIT) 1.1% · Operating margin −0.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 19% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at 64%, ALHRG screens cheaper than that median.

Fair Value models

Bear €19.72 Fair Value €29.72 Bull €39.72
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
Gordon GGM €13.18 €14.09 €15.42 69
DDM Multi-Stage €13.18 €15.25 €17.84 67
EV/EBITDA €19.89 €29.90 €39.90 66
All 4 models by family
Dividend Discount
Gordon GGM €13.18 €14.09 €15.42 69
DDM Multi-Stage €13.18 €15.25 €17.84 67
Multiples
EV/EBITDA €19.89 €29.90 €39.90 66
Asset-Based
NCAV (Graham) €24.87 €33.33 €49.75 54

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Quality Score breakdown

Overall quality 36/100

Of which business quality 36 · Market factors (momentum, volatility) 38

Profitability 22
Margins and returns on capital today
Quality Growth 16
Are margins and returns improving?
Cashflow 5
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 13
Distance to the 52-week high (market factor)
Net Issuance 52
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. 0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−27.8%
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.
−21.8%
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.
−8.8%
Start year 2020 (pandemic). Over 10 years: −3.0% a year
Revenue growth 19 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.
−1.5%
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.
2.4% (2020) → −2.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 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.Building Materials · 258 stocks

Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 36 · Bottom 25%
Fair Value upside +65% · Top 25%
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −2% · Bottom 25%
Operating margin (TTM) 0% · Below median
Growth and dividend
Revenue growth −5% · Below median
Dividend yield (TTM) 8.8% · Top 25%
Balance sheet
Debt / equity 0.48× · Highest 25%

Valuation Multiplesvs Building Materials median · lower = cheaper

P/B 0.49× · Cheaper than median
P/S (TTM) 0.18× · Cheapest 25%
EV/EBITDA 7.3× · Pricier than median
PEG 1.92× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 25
FUTURE (revenue growth)0 · sector 2
PAST (return on equity)0 · sector 15
HEALTH (low debt)76 · sector 92
DIVIDEND (yield)100 · sector 46

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 Building Materials stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
CRH plc CRH $88.04 $74.79 −15%
Holcim AG HOLN CHF 66.32 CHF 33.05 −50%
Vulcan Materials Company VMC $247.87 $131.48 −47%
UltraTech Cement Limited ULTRACEMCO ₹11,155 ₹4,719 −58%
Martin Marietta Materials, Inc MLM $499.34 $245.83 −51%
China Jushi Co 600176 ¥45.62 ¥29.50 −35%
Amrize AG AMRZ $39.00 $34.66 −11%
Grasim Industries Limited GRASIM ₹3,189 ₹1,245 −61%
CEMEX, S.A. CX $10.24 $25.27 +147%
James Hardie Industries plc JHX A$38.17 A$7.93 −79%

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Herige SA · Fair Value
€29.72 +39%Fair Value
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Cite: Fair Value Calculator (2026). "Herige SA Fair Value". https://www.fairvalue-calculator.com/stock/ALHRG

Frequently asked questions

Is Herige SA (ALHRG) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €29.72 versus a price of €18.10, about +64% upside (undervalued).
What is the fair value of ALHRG?
Our model-based fair value for Herige SA is €29.72 (as of Sep 23, 2026), built from audited fundamentals. The current price: €18.10.
What is the quality score of ALHRG?
Herige SA has a Quality Score of 36/100. 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 Herige SA (ALHRG)?
Our model-based price target is the fair value of €29.72 (as of Sep 23, 2026) from 4 valuation models. Cautious scenario €19.72, optimistic scenario €39.72. It is a calculation from audited fundamentals, not an analyst target.
What is the Herige SA stock forecast for 2026?
Our models put fair value at €29.72, about +64% upside versus a price of €18.10 (undervalued). Cautious scenario €19.72, optimistic scenario €39.72. The calculation is refreshed regularly with new filings.
What is the revenue of Herige SA (ALHRG)?
Herige SA reported trailing-twelve-month revenue of about €380M (latest available figure, as of Sep 23, 2026).
Does Herige SA pay a dividend?
Herige SA currently shows a dividend yield of about 8.80% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Herige SA (ALHRG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Herige SA it is €29.72 per share (as of Sep 23, 2026), against a price of €18.10. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Herige SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, ALHRG trades below its calculated fair value: price €18.10, fair value €29.72, a gap of about +64% (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 ALHRG?
No. The price is what the market pays today (€18.10); the fair value is what the company's own numbers justify (€29.72). For Herige SA the two are €11.62 per share apart. That gap is exactly why we show both numbers side by side.
How much is Herige SA worth?
The market values Herige SA at about €61.3M (market capitalisation, as of Sep 23, 2026). Per share that is €18.10; our models calculate a fair value of €29.72 per share.
What do the bullish and bearish scenarios say about ALHRG?
Our models span a range for Herige SA: cautious scenario €19.72, base €29.72, optimistic €39.72 per share (as of Sep 23, 2026, price €18.10). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of ALHRG?
The PEG ratio of Herige SA is 1.92 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Herige SA (ALHRG)?
Balance-sheet figures for Herige SA (as of Sep 23, 2026): return on equity −5.2%, debt of 0.48 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.
How far is ALHRG from its 52-week high?
Herige SA trades at €18.10, about 19% below its 52-week high of €22.40 and 2% above the low of €17.70 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €29.72 is for.
Which stocks are comparable to Herige SA?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement Limited, 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 Herige SA stock attractive at the current price?
The data as of Sep 23, 2026: price €18.10, calculated fair value €29.72 (+64%), Quality Score 36/100, from 4 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 ALHRG calculated?
We run Herige SA through 4 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 €29.72, 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. Herige SA currently trades 64 % 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 Herige SA (ALHRG)?
The closing price on Sep 24, 2026 was €18.10. Our model-based fair value is €29.72, about +64% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Herige SA right now?
The large discount to fair value meets weak quality (36/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (€19.72). The market is more pessimistic than our downside scenario. A fairly wide model range (€19.72 to €39.72) leaves room in how you read the outcome.

Key figures of Herige SA

How large is the market capitalisation of Herige SA (ALHRG)?
The market capitalisation of Herige SA is €61.3M. 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 Herige SA (ALHRG)?
The price-to-sales ratio of Herige SA is 0.16 (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 Herige SA (ALHRG)?
Earnings per share at Herige SA are €−2.71. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Herige SA (ALHRG)?
The dividend yield of Herige SA is 8.8%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Herige SA (ALHRG)?
The net margin of Herige SA is −2.0% (fiscal year 2025). 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 Herige SA (ALHRG)?
The return on equity (ROE) of Herige SA is −5.2% (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 Herige SA (ALHRG)?
On an EBIT basis the return on assets of Herige SA 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 Herige SA (ALHRG)?
The operating margin of Herige SA is −0.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Herige SA (ALHRG)?
Revenue at Herige SA is growing −5.2% versus a year earlier (3y avg −21.8%). 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 Herige SA (ALHRG)?
Earnings per share at Herige SA are growing +152% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Herige SA (ALHRG) generate?
The free cash flow of Herige SA is −€19.2M (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 Herige SA (ALHRG) carry?
The net debt of Herige SA is €29.4M (fiscal year 2025). 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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