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Calibre (ALWIN) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Calibre stock €0.17, price €0.22, that is 22.1% below the price, quality 13 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Communication Services · Home Belgium · ISIN BE0974334667

C Calibre logo Thin data Nov 10, 2026

Calibre

ALWIN · PA
Expensive, weak quality

Our calculation puts a fair price 22% below what the stock costs today.

Negative equity (buybacks among others)
Revenue last quarter 26% below a year ago.
Fair value €0.1691 · Overvalued
Quality 13/100
Weak Growth (revenue 5y −38.2 %/yr in EUR)
Negative free cash flow
Trails peers (0/5)
Narrow moat 36/100 · thin data
Thin data
Estimate
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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

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Price vs Fair Value

€3.95 €0.1792 Fair Value €0.1691 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range €0.1792 – €3.95 · fair‑value band €0.1268 – €0.2114 · the €0.2170 price screens above the €0.1691 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Winamp Group SA is involved in the digital music business in Belgium, the rest of Europe, the United States, and internationally.

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The company offers Winamp, an audio player; Bridger, a copyright management solution for artists; and a range of digital and music radios comprising various themed stations. It also provides solutions to artists for their music promotion, distribution, and licensing.

The company was formerly known as Llama Group SA and changed its name to Winamp Group SA in October 2025. Winamp Group SA was founded in 2001 and is headquartered in Brussels, Belgium.

Stock analysis

Calibre (ALWIN) currently trades at €0.2170, while our estimate is €0.1691, 22% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: €0.1268 (bear) to €0.2114 (bull), the price of €0.2170 sits above 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 13/100 (below-average quality), in the Communication Services sector.

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

Calibre reported revenue of €1.8M in FY2025 versus €28.3M in FY2021, a compound −50.1%/yr. Reported net income was −€6.9M in FY2025.

Key figures

Market cap €4.8M Micro · P/S ratio 2.75 · EPS (TTM) €−0.4000 · Return on assets (EBIT) −30.1% (5-year average) · Operating margin −339% · Revenue (TTM) €1.8M · Revenue growth (YoY) −25.8% · Free cash flow −€3.0M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 36 out of 100 (low confidence).

What moves the price

The share trades about 66% below its 52-week high and 21% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at 39% fair-value upside, at −22%, ALWIN screens richer than that median.

Fair Value

Bear €0.1268 Fair Value €0.1691 Bull €0.2114
Price €0.2170 · Downside -22.1%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 13/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 4
How much profit the company makes from its sales and capital
Quality Growth 9
Are margins and returns getting better?
Cashflow 0
Do the profits arrive as real cash?
Financial strength 0
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 7
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 10
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

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
−23.6%
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.
−5.9%
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.
−38.2%
Start year 2020 (pandemic)
Revenue growth 9 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.
−23.2%
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.
−17.2% (2020) → −334.7% (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

ALWIN screens overvalued: fair value 22% below the price. Compare with Alphabet Inc →

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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.Internet Content & Information · 138 stocks

Beats the industry median on 0/5 measures
Overall it trails its industry peers.
Valuation
Quality Score 13 · Bottom 25%
Fair Value upside −22.1% · Below median
Profitability
Return on equity (12 months) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −47.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −25.8% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Internet Content & Information median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months) 2.72× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)4 · sector 40
FUTURE (revenue growth)0 · sector 32
PAST (return on equity)0 · sector 16
HEALTH (low debt)0 · sector 97
DIVIDEND (yield)0 · sector 39

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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 Internet Content & Information stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Kuaishou Technology 1024 HK$28.98 HK$86.94 +200% vs ALWIN
Tencent Music Entertainment Group 1698 HK$36.92 HK$74.26 +101% vs ALWIN
Tencent Holdings 0700 HK$417.80 HK$710.45 +70% vs ALWIN
NAVER Corporation 035420 193,000 KRW 314,922 KRW +63% vs ALWIN
Pinterest, Inc PINS $18.95 $26.25 +39% vs ALWIN
Reddit, Inc RDDT $98.67 $110.87 +12% vs ALWIN
Alphabet Inc GOOG $284.92 $314.61 +10% vs ALWIN
Meta Platforms, Inc META $641.39 $705.51 +10% vs ALWIN
Spotify Technology S.A SPOT $606.22 $612.82 +1% vs ALWIN
Baidu, Inc BIDU $79.71 $54.09 −32% vs ALWIN

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Calibre: fair value per Fair Value Calculator

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

Frequently asked questions

Is Calibre (ALWIN) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is €0.1691 versus a price of €0.2170, about 22% lower (overvalued).
What is the fair value of ALWIN?
Our estimate for Calibre is €0.1691 (as of Nov 10, 2026), built from audited fundamentals. The current price: €0.2170.
What is the quality score of ALWIN?
Calibre has a Quality Score of 13/100. 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 Calibre (ALWIN)?
Our calculated price target is the estimate of €0.1691 (as of Nov 10, 2026). Cautious scenario €0.1268, optimistic scenario €0.2114. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Calibre stock forecast for 2026?
Our estimate puts fair value at €0.1691, about 22% lower versus a price of €0.2170 (overvalued). Cautious scenario €0.1268, optimistic scenario €0.2114. The calculation is refreshed regularly with new filings.
What is the revenue of Calibre (ALWIN)?
Calibre reported trailing-twelve-month revenue of about €1.8M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Calibre (ALWIN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Calibre it is €0.1691 per share (as of Nov 10, 2026), against a price of €0.2170.
Is Calibre stock overvalued or undervalued in 2026?
As of Nov 10, 2026, ALWIN trades above its calculated fair value: price €0.2170, fair value €0.1691, a gap of about −22% (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 ALWIN?
No. The price is what the market pays today (€0.2170); the fair value is what the company's own numbers justify (€0.1691). For Calibre the two are €0.0479 per share apart. That gap is exactly why we show both numbers side by side.
How much is Calibre worth?
The market values Calibre at about €4.8M (market capitalisation, as of Nov 10, 2026). Per share that is €0.2170; our models calculate a fair value of €0.1691 per share.
What do the bullish and bearish scenarios say about ALWIN?
Our models span a range for Calibre: cautious scenario €0.1268, base €0.1691, optimistic €0.2114 per share (as of Nov 10, 2026, price €0.2170). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Calibre (ALWIN)?
Balance-sheet figures for Calibre (as of Nov 10, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 13/100, which measures business quality independently of the share price.
How far is ALWIN from its 52-week high?
Calibre trades at €0.2170, about 66% below its 52-week high of €0.6450 and 21% above the low of €0.1792 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of €0.1691 is for.
Which stocks are comparable to Calibre?
From the same area (Communication Services) we also value Alphabet Inc, Meta Platforms, Inc, Tencent Holdings, Spotify Technology S.A, 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 Calibre stock attractive at the current price?
The data as of Nov 10, 2026: price €0.2170, calculated fair value €0.1691 (−22%), Quality Score 13/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Calibre 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 Calibre (ALWIN)?
The closing price on Nov 10, 2026 was €0.2170. Our estimate is €0.1691, about 22% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Calibre right now?
The price sits above even our optimistic bull case (€0.2114). The favourable scenario is already priced in. Weak quality (13/100) 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 Calibre

How large is the market capitalisation of Calibre (ALWIN)?
The market capitalisation of Calibre is €4.8M. 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 Calibre (ALWIN)?
The price-to-sales ratio of Calibre is 2.75 (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 Calibre (ALWIN)?
Earnings per share at Calibre are €−0.4000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the EBIT return on assets of Calibre (ALWIN)?
On an EBIT basis the return on assets of Calibre is −30.1% (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 Calibre (ALWIN)?
The operating margin of Calibre is −339% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Calibre (ALWIN)?
Revenue at Calibre is growing −25.8% versus a year earlier (3y avg −5.9%). 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 Calibre (ALWIN) generate?
The free cash flow of Calibre is −€3.0M (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 Calibre (ALWIN) carry?
The net debt of Calibre is €12.0M (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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