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Herige (ALHRG) Fair Value & Analysis

Basic Materials · FR · Market cap €61.3M

H Herige ALHRG · PA
Price€21.80
Fair Value€33.92
Upside+55.6%
Quality36/100
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Weak Growth
Loss-making · -2.0% net margin
Low debt · negative free cash flow
Trails peers (3/12)
Narrow moat 17/100
Evidence: Low Range €22.51 – €45.33 Share as image

Fair value as of: Jul 19, 2026

From 4 valuation models · updated 22 days ago

Fair value updated Jul 19, 2026, revised from €29.69 to €33.92 (+14.2%) since Jun 25, 2026. Share price +1.4% over the past month.

Below-average quality, screening 56% undervalued on our models.

What matters 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 (€22.51). 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.
  • A fairly wide model range (€22.51 to €45.33) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€44.78 €18.35 Fair Value €33.92 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €18.35 – €44.78 · fair‑value band €22.51 – €45.33 · the €21.80 price screens below the €33.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Herige (ALHRG) currently trades at €21.80, while our model-based Fair Value estimate is €33.92, implying the stock looks roughly 55.6% undervalued today. The Quality Score stands at 36/100 (below-average quality), in the Basic Materials 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: low), always confirm before acting.

Over the trailing twelve months, Herige generated revenue of €379M at a net margin of -2.1%. Revenue declined 5.6% year over year. It earns a return on equity of -5.2%. Net debt stands at €29.4M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €22.51 (bear case) to €45.33 (bull case); at €21.80, 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 9% below its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -59% fair-value upside, at 56%, ALHRG 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
Gordon GGM €13.18 €14.09 €15.42 70
DDM Multi-Stage €13.18 €15.25 €17.84 61
EV/EBITDA €19.89 €29.90 €39.90 54
All 4 models by family
Dividend Discount
Gordon GGM €13.18 €14.09 €15.42 70
DDM Multi-Stage €13.18 €15.25 €17.84 61
Multiples
EV/EBITDA €19.89 €29.90 €39.90 54
Asset-Based
NCAV (Graham) €24.87 €33.33 €49.75 50

Widest divergence: Asset-Based (€33.33) versus Dividend Discount (€14.09). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) €379M
Revenue growth (YoY) -5.6%
Net margin -2.1%
Return on equity -5.2%
Free cash flow −€19.2M FY2025
Operating margin 0.0%
More key figures
EPS (TTM) €-2.71
EPS growth (YoY) +152%
Net debt €29.4M FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 36/100

Of which business quality 36 · Market factors (momentum, volatility) 53

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 70
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 52
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

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.

Full company description

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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€379M
Latest YoY
−27.8%
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.
−21.8%
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.
−8.8%
Avg. growth/yr (19Y) 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.
−1.5%
Revenue −14.6%/yr
FY21 €712M
FY22 €793M
FY23 €836M
FY24 €526M
FY25 €379M
Net income
FY21 €19.1M
FY22 €21.9M
FY23 €9.3M
FY24 €10.9M
FY25 −€7.8M

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Cite: Fair Value Calculator (2026). "Herige Fair Value". https://www.fairvalue-calculator.com/stock/ALHRG

Peer Group

Building Materials · 253 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 36 · Bottom 25%
Fair Value upside +56% · Top 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -2% · Bottom 25%
Operating margin (TTM) -0% · Below median
Revenue growth -5% · Below median
Debt / equity 0.48× · Higher than 75% of peers

Valuation Multiples vs Building Materials median · lower = cheaper

P/B 0.50× · Cheaper than median
P/S (TTM) 0.19× · Cheaper than 75% of peers
EV/EBITDA 7.3× · Pricier than median
PEG 1.92× · Pricier than median

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 27
FUTURE 0 · sector 2
PAST 0 · sector 15
HEALTH 76 · sector 92
DIVIDEND 0 · sector 42

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 Building Materials stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
CRH plc CRH $102.92 $70.57 -31%
UltraTech Cement Limited ULTRACEMCO ₹11,711 ₹4,719 -60%
China Jushi Co 600176 ¥54.52 ¥13.95 -74%
Grasim Industries Limited GRASIM ₹3,073 ₹1,245 -59%
CEMEX, S.A. CEMEXCPO 21.71 MXN 15.42 MXN -29%
Anhui Conch Cement Company 600585 ¥16.99 ¥26.14 +54%
Ambuja Cements Limited AMBUJACEM ₹435.25 ₹227.96 -48%
Shree Cement Limited SHREECEM ₹26,930 ₹8,215 -69%
TCC Group 1101B 43.70 TWD 10.48 TWD -76%
Taiwan Glass Ind. Corp 1802 53.30 TWD 13.98 TWD -74%

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Frequently asked questions

Is Herige (ALHRG) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €33.92 versus a price of €21.80, about +56% (undervalued).
What is the fair value of ALHRG?
Our model-based fair value for Herige is €33.92 (as of Jul 19, 2026), built from audited fundamentals. The current price is €21.80.
What is the quality score of ALHRG?
Herige 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 revenue of Herige (ALHRG)?
Herige reported trailing-twelve-month revenue of about €379M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of ALHRG?
The net profit margin of Herige is about -2.1%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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