Aton (ALTAO) fair value: what the stock is really worth
We calculate from audited financials what Aton is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
Valuation from Jun 23, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
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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 Jun 23, 2026.
How to read this chart
60‑month range €0.0052 – €0.2170 · the €0.0124 price screens above the €0.0100 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jun 23, 2026.
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Aton operates as a bioscience company in France. It engages in drug development, preclinical and clinical services, production of monoclonal antibodies, laboratory equipment production, and designing and manufacturing of medical devices, as well as provision of human tissues. The company also offers medical devices for surgeons, powered by Stemcis.
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Aton operates as a bioscience company in France. It engages in drug development, preclinical and clinical services, production of monoclonal antibodies, laboratory equipment production, and designing and manufacturing of medical devices, as well as provision of human tissues. The company also offers medical devices for surgeons, powered by Stemcis. The company was founded in 1998 and is headquartered in Strasbourg, France.
Stock analysis
Aton (ALTAO) currently trades at €0.0124, while our model-based Fair Value estimate is €0.0100, implying the stock looks roughly 24.0% overvalued today.
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Valuation
How firm this estimate is: it rests on 9 models at a data quality of 86/100, which puts the evidence level at low.
Quality & growth
The Quality Score stands at 30/100 (below-average quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Aton reported revenue of €661K in FY2025 versus €147K in FY2021, a compound +45.6%/yr. Reported net income was −€962K in FY2025.
Key figures
Market cap €12.1M · P/S ratio 18.4 · Net margin −146% · Return on assets (EBIT) −20.9% · Operating margin −170% · Revenue (TTM) €657K · Revenue growth (YoY) +17.6% · Free cash flow €142K.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).
What moves the price
The share trades about 40% below its 52-week high and 138% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −5% fair-value upside, at −19%, ALTAO screens richer than that median.
Fair Value models
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.
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.53/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+7.7%
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.
+34.4%
Start year 2020 (pandemic). Over 10 years: −17.7% 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.
−210.5% (2020) → −121.0% (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
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+38.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +35.9% a year for the price.
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.Biotechnology · 649 stocks
Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score30 · Bottom 25%
Fair Value upside−22% · Above median
Profitability
Return on assets−10% · Below median
Net margin (TTM)−18% · Below median
Operating margin (TTM)−170% · Bottom 25%
Growth and dividend
Revenue growth18% · Above median
Balance sheet
Debt / equity28.05× · Highest 25%
Valuation Multiplesvs Biotechnology 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). "Aton Fair Value". https://www.fairvalue-calculator.com/stock/ALTAO
Frequently asked questions
Is Aton (ALTAO) overvalued or undervalued?
As of Jun 23, 2026, our model estimates a fair value of €0.0100 versus a price of €0.0124, about −19% upside (overvalued).
What is the fair value of ALTAO?
Our model-based fair value for Aton is €0.0100 (as of Jun 23, 2026), built from audited fundamentals. The current price: €0.0124.
What is the quality score of ALTAO?
Aton has a Quality Score of 30/100. 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 Aton (ALTAO)?
Our model-based price target is the fair value of €0.0100 (as of Jun 23, 2026) from 4 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Aton stock forecast for 2026?
Our models put fair value at €0.0100, about −19% upside versus a price of €0.0124 (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Aton (ALTAO)?
Aton reported trailing-twelve-month revenue of about €657K (latest available figure, as of Jun 23, 2026).
What growth is priced into Aton (ALTAO)?
For today's price to be fair in a discounted-cash-flow model, Aton would have to grow free cash flow by +38.9 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +34.4 % per year. As of Jun 23, 2026.
What discount rate (WACC) does the fair value of ALTAO use?
Our models discount Aton at 9.5 %: a base by market capitalisation (nano), damped by beta 0.69, country premium for France. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Aton that is +38.9 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Aton (ALTAO) delivered so far?
Over the past 5 years revenue at Aton grew +34.4 % a year. The price currently implies +38.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Aton (ALTAO) growing?
The median revenue growth in the sector is +0.0 % a year. That is the yardstick for the growth priced into Aton (+38.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Aton (ALTAO)?
The free-cash-flow yield on the price is 1.38 %: that much free cash flow Aton produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Aton (ALTAO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aton it is €0.0100 per share (as of Jun 23, 2026), against a price of €0.0124. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Aton stock overvalued or undervalued in 2026?
As of Jun 23, 2026, ALTAO trades above its calculated fair value: price €0.0124, fair value €0.0100, a gap of about −19% (overvalued). 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 ALTAO?
No. The price is what the market pays today (€0.0124); the fair value is what the company's own numbers justify (€0.0100). For Aton the two are €0.0024 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aton worth?
The market values Aton at about €12.1M (market capitalisation, as of Jun 23, 2026). Per share that is €0.0124; our models calculate a fair value of €0.0100 per share.
How far is ALTAO from its 52-week high?
Aton trades at €0.0124, about 40% below its 52-week high of €0.0206 and 138% above the low of €0.0052 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €0.0100 is for.
Which stocks are comparable to Aton?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, Samsung Biologics Co, 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 Aton stock attractive at the current price?
The data as of Jun 23, 2026: price €0.0124, calculated fair value €0.0100 (−19%), Quality Score 30/100, 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 ALTAO calculated?
We run Aton 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 €0.0100, 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. Aton itself currently trades above fair value. 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 Aton (ALTAO)?
The closing price on Sep 24, 2026 was €0.0124. Our model-based fair value is €0.0100, about −19% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aton right now?
Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Aton
How large is the market capitalisation of Aton (ALTAO)?
The market capitalisation of Aton is €12.1M. 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 Aton (ALTAO)?
The price-to-sales ratio of Aton is 18.4 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Aton (ALTAO)?
The net margin of Aton is −146% (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 EBIT return on assets of Aton (ALTAO)?
On an EBIT basis the return on assets of Aton is −20.9% (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 Aton (ALTAO)?
The operating margin of Aton is −170% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aton (ALTAO)?
Revenue at Aton is growing +17.6% versus a year earlier (3y avg +651%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Aton (ALTAO) carry?
The net debt of Aton is €2.7M (fiscal year 2025, ≈ 18.7 yrs of FCF). 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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