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

We calculate from audited financials what Calibre 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.
  1. Fair value above price? No
  2. Good quality? No
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Communication Services · Home Belgium · ISIN BE0974334667

C Thin data Jun 23, 2026

Calibre

ALWIN · PA

Weakest SetupStrongly overvalued and low quality.

!Fair value €0.1105 · Strongly overvalued (−58%)
!Quality 17/100
!Weak Growth (revenue 5y −38.2 %/yr)
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (0/5)
!Narrow moat 36/100
!Evidence only low, so the estimate is less certain

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

€3.95 €0.1792 Fair Value €0.1105 Aug 2021 Sep 2026

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 €0.1792 – €3.95 · fair‑value band €0.0850 – €0.1360 · the €0.2650 price screens above the €0.1105 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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Company profile

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

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Winamp Group SA is involved in the digital music business in Belgium, the rest of Europe, the United States, and internationally. 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 €0.2650, while our model-based Fair Value estimate is €0.1105, implying the stock looks roughly 139.8% overvalued today.

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Valuation

How firm this estimate is: it rests on 3 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: €0.0850 (bear) to €0.1360 (bull), the price of €0.2650 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 17/100 (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 €8.9M · P/S ratio 5.07 · EPS (TTM) €−0.4300 · Return on assets (EBIT) −30.1% · 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 35 out of 100 (low confidence).

What moves the price

The share trades about 59% below its 52-week high and 48% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at −58%, ALWIN screens richer than that median.

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Quality Score breakdown

Overall quality 17/100

Of which business quality 13 · Market factors (momentum, volatility) 7

Profitability 4
Margins and returns on capital today
Quality Growth 9
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 0
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 10
Price trend over the last 3–12 months (market factor)
52W Momentum 9
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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 140% overvalued. 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 · 150 stocks

Beats the industry median on 0/5 measures
Overall it trails its industry peers.
Valuation
Quality Score 17 · Bottom 25%
Fair Value upside −58% · Bottom 25%
Profitability
Return on equity (TTM) 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 −23% · Bottom 25%
Growth and dividend
Revenue growth −26% · 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 (TTM) 5.78× · Priciest 25%

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
Alphabet Inc GOOG $347.41 $333.34 −4%
Meta Platforms, Inc META $736.60 $810.25 +10%
Tencent Holdings 0700 HK$451.60 HK$710.95 +57%
Spotify Technology S.A SPOT $510.40 $561.44 +10%
Reddit, Inc RDDT $151.98 $132.52 −13%
Baidu, Inc BIDU $89.78 $67.35 −25%
Kuaishou Technology, an investment holding company, 1024 HK$31.22 HK$101.62 +225%
NAVER Corporation 035420 194,700 KRW 315,395 KRW +62%
Tencent Music Entertainment Group 1698 HK$32.28 HK$71.55 +122%
REA Group REA A$152.08 A$167.29 +10%

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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 Jun 23, 2026, our model estimates a fair value of €0.1105 versus a price of €0.2650, about −58% upside (overvalued).
What is the fair value of ALWIN?
Our model-based fair value for Calibre is €0.1105 (as of Jun 23, 2026), built from audited fundamentals. The current price: €0.2650.
What is the quality score of ALWIN?
Calibre has a Quality Score of 17/100. 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 model-based price target is the fair value of €0.1105 (as of Jun 23, 2026) from 3 valuation models. Cautious scenario €0.0850, optimistic scenario €0.1360. It is a calculation from audited fundamentals, not an analyst target.
What is the Calibre stock forecast for 2026?
Our models put fair value at €0.1105, about −58% upside versus a price of €0.2650 (overvalued). Cautious scenario €0.0850, optimistic scenario €0.1360. 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 Jun 23, 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 €0.1105 per share (as of Jun 23, 2026), against a price of €0.2650. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Calibre stock overvalued or undervalued in 2026?
As of Jun 23, 2026, ALWIN trades above its calculated fair value: price €0.2650, fair value €0.1105, a gap of about −58% (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 (€0.2650); the fair value is what the company's own numbers justify (€0.1105). For Calibre the two are €0.1545 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 €8.9M (market capitalisation, as of Jun 23, 2026). Per share that is €0.2650; our models calculate a fair value of €0.1105 per share.
What do the bullish and bearish scenarios say about ALWIN?
Our models span a range for Calibre: cautious scenario €0.0850, base €0.1105, optimistic €0.1360 per share (as of Jun 23, 2026, price €0.2650). 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 Jun 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 17/100, which measures business quality independently of the share price.
How far is ALWIN from its 52-week high?
Calibre trades at €0.2650, about 59% below its 52-week high of €0.6450 and 48% above the low of €0.1792 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €0.1105 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 Jun 23, 2026: price €0.2650, calculated fair value €0.1105 (−58%), Quality Score 17/100, from 3 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 ALWIN calculated?
We run Calibre through 3 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 €0.1105, 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. 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 Sep 24, 2026 was €0.2650. Our model-based fair value is €0.1105, about −58% upside (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 (€0.1360). The favourable scenario is already priced in. Weak quality (17/100) 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.

Key figures of Calibre

How large is the market capitalisation of Calibre (ALWIN)?
The market capitalisation of Calibre is €8.9M. 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 5.07 (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 €−0.4300. 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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