Spineway (ALSPW) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Spineway €0.18, price €0.10, upside +76.5%, quality 47 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range €0.0798 – €136,000 · fair‑value band €0.1200 – €0.2200 · the €0.1020 price screens below the €0.1800 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Spineway SA designs, develops, and markets a range of surgical implants for spine in France.
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Spineway SA designs, develops, and markets a range of surgical implants for spine in France. The company offers posterior fixation, including posterior osteosynthesis systems and minimal invasive posterior osteosynthesis systems; interbody fusion products, such as lumbar cage twin peaks tlif curved and oblique; motion preservation products; and biomaterials. It also exports its products. The company was incorporated in 2005 and is headquartered in Ecully, France.
Stock analysis
Spineway (ALSPW) currently trades at €0.1020, while our model-based Fair Value estimate is €0.1800, implying the stock looks roughly 43.3% undervalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: €0.1200 (bear) to €0.2200 (bull), the price of €0.1020 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 47/100 (below-average quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Spineway reported revenue of €12.4M in FY2025 versus €4.3M in FY2021, a compound +30.5%/yr. Reported net income was −€2.2M in FY2025.
Key figures
Market cap €4.7M · P/S ratio 0.36 · EPS (TTM) €−0.0600 · Net margin −18.0% · Return on equity −9.5% · Return on assets (EBIT) −14.3% · Operating margin −13.2% · Revenue (TTM) €12.8M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 55% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −38% fair-value upside, at 76%, ALSPW screens cheaper than that median.
Fair Value models
Bear €0.1200Fair Value €0.1800Bull €0.2200
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. 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.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.
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.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+4.0%
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.
+18.7%
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.
+29.8%
Start year 2020 (pandemic). Over 10 years: +8.1% a year
Revenue growth 16 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.
+10.9%
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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.
−43.7% (2020) → −17.2% (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
Price, fair value, quality and upside side by side.
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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.Medical Instruments & Supplies · 189 stocks
Beats the industry median on 5/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score46 · Bottom 25%
Fair Value upside+76.5% · Top 25%
Profitability
Return on assets−4.5% · Bottom 25%
Net margin (TTM)−17.5% · Bottom 25%
Operating margin (TTM)−13.2% · Bottom 25%
Growth and dividend
Revenue growth16.7% · Top 25%
Balance sheet
Debt / equity0.07× · Below median
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Spineway Fair Value". https://www.fairvalue-calculator.com/stock/ALSPW
Frequently asked questions
Is Spineway (ALSPW) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of €0.1800 versus a price of €0.1020, about +76% upside (undervalued).
What is the fair value of ALSPW?
Our model-based fair value for Spineway is €0.1800 (as of Sep 27, 2026), built from audited fundamentals. The current price: €0.1020.
What is the quality score of ALSPW?
Spineway has a Quality Score of 47/100. 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 Spineway (ALSPW)?
Our model-based price target is the fair value of €0.1800 (as of Sep 27, 2026) from 1 valuation models. Cautious scenario €0.1200, optimistic scenario €0.2200. It is a calculation from audited fundamentals, not an analyst target.
What is the Spineway stock forecast for 2026?
Our models put fair value at €0.1800, about +76% upside versus a price of €0.1020 (undervalued). Cautious scenario €0.1200, optimistic scenario €0.2200. The calculation is refreshed regularly with new filings.
What is the revenue of Spineway (ALSPW)?
Spineway reported trailing-twelve-month revenue of about €12.8M (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Spineway (ALSPW)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Spineway it is €0.1800 per share (as of Sep 27, 2026), against a price of €0.1020. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Spineway stock overvalued or undervalued in 2026?
As of Sep 27, 2026, ALSPW trades below its calculated fair value: price €0.1020, fair value €0.1800, a gap of about +76% (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 ALSPW?
No. The price is what the market pays today (€0.1020); the fair value is what the company's own numbers justify (€0.1800). For Spineway the two are €0.0780 per share apart. That gap is exactly why we show both numbers side by side.
How much is Spineway worth?
The market values Spineway at about €4.7M (market capitalisation, as of Sep 27, 2026). Per share that is €0.1020; our models calculate a fair value of €0.1800 per share.
What do the bullish and bearish scenarios say about ALSPW?
Our models span a range for Spineway: cautious scenario €0.1200, base €0.1800, optimistic €0.2200 per share (as of Sep 27, 2026, price €0.1020). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Spineway (ALSPW)?
Balance-sheet figures for Spineway (as of Sep 27, 2026): return on equity −9.5%, debt of 0.07 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is ALSPW from its 52-week high?
Spineway trades at €0.1020, about 55% below its 52-week high of €0.2250 and at the low of €0.1020 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €0.1800 is for.
Which stocks are comparable to Spineway?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Becton, Dickinson and Company, Medline Inc, 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 Spineway stock attractive at the current price?
The data as of Sep 27, 2026: price €0.1020, calculated fair value €0.1800 (+76%), Quality Score 47/100, from 1 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 ALSPW calculated?
We run Spineway through 1 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 €0.1800, 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 14.5 % above its aggregate fair value. Spineway currently trades 43 % 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 Spineway (ALSPW)?
The closing price on Oct 2, 2026 was €0.1020. Our model-based fair value is €0.1800, about +76% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Spineway right now?
The price is below even our cautious bear case (€0.1200). 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. Solid quality (47/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€0.1200 to €0.2200) leaves room in how you read the outcome.
Key figures of Spineway
How large is the market capitalisation of Spineway (ALSPW)?
The market capitalisation of Spineway is €4.7M. 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 Spineway (ALSPW)?
The price-to-sales ratio of Spineway is 0.36 (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 Spineway (ALSPW)?
Earnings per share at Spineway are €−0.0600. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Spineway (ALSPW)?
The net margin of Spineway is −18.0% (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 Spineway (ALSPW)?
The return on equity (ROE) of Spineway is −9.5% (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 Spineway (ALSPW)?
On an EBIT basis the return on assets of Spineway is −14.3% (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 Spineway (ALSPW)?
The operating margin of Spineway is −13.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Spineway (ALSPW)?
Revenue at Spineway is growing +16.7% versus a year earlier (3y avg +18.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Spineway (ALSPW) generate?
The free cash flow of Spineway is −€163K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Spineway (ALSPW) hold?
Spineway holds more cash than debt, €2.0M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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