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SpineGuard SA (ALSGD) Fair Value & Analysis

Healthcare · FR · Market cap €7.9M

SS SpineGuard SA ALSGD · PA
Price€0.0856
Fair Value€0.0170
Upside-80.1%
Quality34/100
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Weak Growth
Loss-making · -55.0% net margin
Low debt · negative free cash flow
Trails peers (0/10)
Narrow moat 13/100
Evidence: Low Share as image

Fair value as of: Jul 13, 2026

From 1 valuation models · updated 28 days ago

Share price +2.5% over the past month.

Below-average quality, and screening another 80% overvalued on our models.

What matters now

  • Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
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Price vs Fair Value (5 years)

€1.50 €0.0768 Fair Value €0.0170 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range €0.0768 – €1.50 · the €0.0856 price screens above the €0.0170 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

SpineGuard SA (ALSGD) currently trades at €0.0856, while our model-based Fair Value estimate is €0.0170, implying the stock looks roughly 80.1% overvalued today. The Quality Score stands at 34/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, SpineGuard SA generated revenue of €3.8M at a net margin of -55.0%. Revenue declined 25.7% year over year. It earns a return on equity of -44.1%. Fundamentals as of Jul 13, 2026

The share trades about 60% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -22% fair-value upside, at -80%, ALSGD screens richer 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
NCAV (Graham) €0.0300 €0.0400 €0.0600 50
All 1 models by family
Asset-Based
NCAV (Graham) €0.0300 €0.0400 €0.0600 50

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Key figures & financial health

Revenue (TTM) €3.8M
Revenue growth (YoY) -25.7%
Net margin -55.0%
Return on equity -44.1%
Free cash flow −€1.2M FY2025
Operating margin -56.0%
More key figures
EPS (TTM) €-0.0300
Net cash €265K FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 34/100

Of which business quality 35 · Market factors (momentum, volatility) 26

Profitability 18
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 46
Calm price path (market factor)
Momentum 19
Price trend over the last 3–12 months (market factor)
52W Momentum 16
Distance to the 52-week high (market factor)
Net Issuance 0
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

SpineGuard SA provides designs, develops, and markets medical devices for spine in France and internationally. The company offers PediGuard drilling instruments comprising straight, curved, cannulated, psifguard, and threaded PediGuard products; and DSG smart screw that allows for one step screw placement treatment.

Full company description

SpineGuard SA provides designs, develops, and markets medical devices for spine in France and internationally. The company offers PediGuard drilling instruments comprising straight, curved, cannulated, psifguard, and threaded PediGuard products; and DSG smart screw that allows for one step screw placement treatment. It also provides DSG (Dynamic Surgical Guidance) Connect app that allows collection and visualization of the signal measured at the tip of DSG Connect devices during pedicle drilling, as well as DSG for orthopedic robots and dental implantology products. SpineGuard SA was incorporated in 2009 and is headquartered in Vincennes, France.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

SpineGuard SA reported revenue of €3.8M in FY2025 versus €4.4M in FY2021, a compound −3.9%/yr. Reported net income was −€2.1M in FY2025.

Growth Quality 0/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€3.8M
Latest YoY
−19.2%
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.
−12.5%
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.
−5.0%
Avg. growth/yr (15Y) 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.
+2.3%
Revenue −3.9%/yr
FY21 €4.4M
FY22 €5.6M
FY23 €4.3M
FY24 €4.6M
FY25 €3.8M
Net income
FY21 −€1.7M
FY22 −€2.4M
FY23 −€4.2M
FY24 −€3.1M
FY25 −€2.1M

ALSGD screens 80% overvalued. Compare with Abbott Laboratories, →

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Cite: Fair Value Calculator (2026). "SpineGuard SA Fair Value". https://www.fairvalue-calculator.com/stock/ALSGD

Peer Group

Medical Devices · 352 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 35 · Bottom 25%
Fair Value upside −80% · Bottom 25%
Return on assets -12% · Bottom 25%
Net margin (TTM) -55% · Bottom 25%
Operating margin (TTM) -56% · Bottom 25%
Revenue growth -26% · Bottom 25%
Debt / equity 0.14× · Higher than median

Valuation Multiples vs Medical Devices median · lower = cheaper

P/B 1.68× · Pricier than median
P/S (TTM) 2.44× · 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 0 · sector 0
FUTURE 0 · sector 29
PAST 0 · sector 8
HEALTH 93 · sector 97
DIVIDEND 0 · sector 38

VALUE 0: the price sits above our fair-value range.

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 Medical Devices stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $100.68 $74.79 -26%
Stryker Corporation SYK $316.44 $186.28 -41%
Medtronic plc MDT $83.56 $65.57 -22%
Boston Scientific Corporation BSX $43.04 $38.44 -11%
Edwards Lifesciences Corporation EW $85.73 $41.02 -52%
Siemens Healthineers AG SHL €34.59 €33.87 -2%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥149.43 ¥147.63 -1%
Shanghai United Imaging Healthcare Co 688271 ¥109.00 ¥43.60 -60%
Demant A/S DEMANT kr 276.60 kr 161.17 -42%
Getinge AB GETIB kr 206.80 kr 192.14 -7%

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Frequently asked questions

Is SpineGuard SA (ALSGD) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of €0.0170 versus a price of €0.0856, about −80% (overvalued).
What is the fair value of ALSGD?
Our model-based fair value for SpineGuard SA is €0.0170 (as of Jul 13, 2026), built from audited fundamentals. The current price is €0.0856.
What is the quality score of ALSGD?
SpineGuard SA has a Quality Score of 34/100. 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 SpineGuard SA (ALSGD)?
SpineGuard SA reported trailing-twelve-month revenue of about €3.8M (latest available figure, as of Jul 13, 2026).
What is the net profit margin of ALSGD?
The net profit margin of SpineGuard SA is about -55.0%, 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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