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Witbe Net SA (ALWIT) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Witbe Net SA €3.61, price €4.49, upside -19.7%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Communication Services · FR · ISIN FR0013143872

WN Thin data Sep 23, 2026

Witbe Net SA

ALWIT · PA

Weak valuationQuality is weak on top of the rich price.

!Fair value €3.61 · Overvalued (−20%)
!Quality 49/100
!Weak Growth (revenue 5y +6.3 %/yr)
!Loss-making · -3.5% net margin (TTM)
✓Low debt · generates free cash flow
!Trails peers (1/11)
!Narrow moat 14/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 7 out of 100
!Weak on future: 4 out of 100
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What runs behind every stock

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

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

Price vs Fair Value

€9.73 €1.35 Fair Value €3.61 Aug 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range €1.35 – €9.73 · fair‑value band €3.15 – €3.99 · the €4.49 price screens above the €3.61 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Witbe S.A. provides digital services in France, Europe, the Middle East, Africa, Asia, the United States, and internationally. The company offers Witbe Suite software, including Remote Eye Controller for testing devices that is a lot less landlocked; Smartgate for analyzing data; and Workbench for programing scenarios.

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Witbe S.A. provides digital services in France, Europe, the Middle East, Africa, Asia, the United States, and internationally. The company offers Witbe Suite software, including Remote Eye Controller for testing devices that is a lot less landlocked; Smartgate for analyzing data; and Workbench for programing scenarios. It also offers WitboxOne, a streaming video testing and monitoring device; Witbox+ for testing up to four 4K or mobile devices simultaneously; WitboxNet for web testing; Witbe Cloud Devices, which offers secure access to testing and monitoring technology on a real, physical device without getting any wires involved; and Witbe Cloud OnDemand that provides access to specific testing and monitoring technology for a brief amount of time. In addition, the company provides mobile and smart TV automation, remote device access, QA test automation, video service and ad monitoring, and VoD asset checking solutions. Witbe S.A. was incorporated in 2000 and is headquartered in Nanterre, France.

Stock analysis

Witbe Net SA (ALWIT) currently trades at €4.49, while our model-based Fair Value estimate is €3.61, implying the stock looks roughly 24.5% overvalued today.

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Valuation

Bull case: the Economic Profit group reads highest at a median of €35.91 per share, and 12 of the 13 models we run sit above the €4.49 price.

Bear case: the Asset-Based group reads lowest at €0.8800, and 1 of the 13 models stay below the price. Evidence for this calculation is low.

Scenario range: €3.15 (bear) to €3.99 (bull), the price of €4.49 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 49/100 (below-average quality), in the Communication Services sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Witbe Net SA reported revenue of €19.6M in FY2025 versus €19.1M in FY2021, a compound +0.6%/yr. Reported net income was −€682K in FY2025.

Key figures

Market cap €18.5M · P/S ratio 0.65 · EPS (TTM) €−0.1700 · Net margin −3.5% · Return on equity −13.0% · Return on assets (EBIT) 15.4% · Operating margin −3.2% · Revenue (TTM) €19.6M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).

What moves the price

The share trades at its 52-week high and 234% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at −20%, ALWIT screens richer than that median.

Fair Value models

Bear €3.15 Fair Value €3.61 Bull €3.99
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.
Highest evidence
FCF DCF €4.68 €6.48 €9.71 80
Growth DCF €4.88 €6.62 €9.49 79
5Y EBITDA Exit €35.30 €59.98 €92.64 74
All 13 models by family
DCF Models
FCF DCF €4.68 €6.48 €9.71 80
5Y Revenue Exit €10.90 €17.74 €27.72 71
5Y EBITDA Exit €35.30 €59.98 €92.64 74
10Y Revenue Exit €7.91 €12.69 €17.98 66
10Y EBITDA Exit €22.81 €38.22 €55.22 68
Earnings-Based
EPV €30.79 €35.69 €39.92 74
Multiples
EV/EBIT €68.04 €90.80 €113.56 66
EV/EBITDA €65.05 €86.81 €108.58 67
EV/Revenue €16.41 €23.55 €30.69 53
Asset-Based
NCAV (Graham) €0.6600 €0.8800 €1.32 54
Growth DCF
Growth DCF €4.88 €6.62 €9.49 79
Rev-Margin DCF €10.90 €17.86 €26.22 72
Economic Profit
ROIC Compounder €30.79 €35.91 €40.42 72

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Quality Score breakdown

Overall quality 49/100

Of which business quality 52 · Market factors (momentum, volatility) 79

Profitability 36
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 29
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 81
Share count: buybacks or dilution?

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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. 32/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−12.1%
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.
−9.2%
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.
+6.3%
Start year 2020 (pandemic). Over 10 years: +2.6% a year
Revenue growth 11 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.
+2.2%
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.
−13.0% (2020) → 79.7% (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

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).
+14.6%
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 +12.1% a year for the price.

ALWIT screens 25% 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 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside −7% · Below median
Profitability
Return on assets −13% · Bottom 25%
Net margin (TTM) −3% · Below median
Operating margin (TTM) −3% · Below median
Growth and dividend
Revenue growth 1% · Below median
Balance sheet
Debt / equity 0.35× · Highest 25%

Valuation Multiplesvs Internet Content & Information median · lower = cheaper

P/B 3.36× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM) 0.93× · Cheaper than median
P/FCF 21.1× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)7 · sector 46
FUTURE (revenue growth)4 · sector 28
PAST (return on equity)0 · sector 18
HEALTH (low debt)82 · sector 98
DIVIDEND (yield)0 · sector 39

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

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Witbe Net SA · Fair Value
€3.61 −25%Fair Value
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Cite: Fair Value Calculator (2026). "Witbe Net SA Fair Value". https://www.fairvalue-calculator.com/stock/ALWIT

Frequently asked questions

Is Witbe Net SA (ALWIT) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €3.61 versus a price of €4.49, about −20% upside (overvalued).
What is the fair value of ALWIT?
Our model-based fair value for Witbe Net SA is €3.61 (as of Sep 23, 2026), built from audited fundamentals. The current price: €4.49.
What is the quality score of ALWIT?
Witbe Net SA has a Quality Score of 49/100. 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 Witbe Net SA (ALWIT)?
Our model-based price target is the fair value of €3.61 (as of Sep 23, 2026) from 13 valuation models. Cautious scenario €3.15, optimistic scenario €3.99. It is a calculation from audited fundamentals, not an analyst target.
What is the Witbe Net SA stock forecast for 2026?
Our models put fair value at €3.61, about −20% upside versus a price of €4.49 (overvalued). Cautious scenario €3.15, optimistic scenario €3.99. The calculation is refreshed regularly with new filings.
What is the revenue of Witbe Net SA (ALWIT)?
Witbe Net SA reported trailing-twelve-month revenue of about €19.6M (latest available figure, as of Sep 23, 2026).
What growth is priced into Witbe Net SA (ALWIT)?
For today's price to be fair in a discounted-cash-flow model, Witbe Net SA would have to grow free cash flow by +14.6 % per year for five years (discount rate 10.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.3 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of ALWIT use?
Our models discount Witbe Net SA at 10.5 %: a base by market capitalisation (nano), damped by beta 1.08, 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 Witbe Net SA that is +14.6 % per year a year over ten years, using the same discount rate (10.5 %) and the same formula as our fair value.
How much growth has Witbe Net SA (ALWIT) delivered so far?
Over the past 5 years revenue at Witbe Net SA grew +6.3 % a year. The price currently implies +14.6 % 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 Witbe Net SA (ALWIT) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Witbe Net SA (+14.6 % 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 Witbe Net SA (ALWIT)?
The free-cash-flow yield on the price is 4.66 %: that much free cash flow Witbe Net SA produces per unit of market value. When it exceeds the discount rate of our models (10.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Witbe Net SA (ALWIT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Witbe Net SA it is €3.61 per share (as of Sep 23, 2026), against a price of €4.49. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Witbe Net SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, ALWIT trades above its calculated fair value: price €4.49, fair value €3.61, a gap of about −20% (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 ALWIT?
No. The price is what the market pays today (€4.49); the fair value is what the company's own numbers justify (€3.61). For Witbe Net SA the two are €0.8840 per share apart. That gap is exactly why we show both numbers side by side.
How much is Witbe Net SA worth?
The market values Witbe Net SA at about €18.5M (market capitalisation, as of Sep 23, 2026). Per share that is €4.49; our models calculate a fair value of €3.61 per share.
What do the bullish and bearish scenarios say about ALWIT?
Our models span a range for Witbe Net SA: cautious scenario €3.15, base €3.61, optimistic €3.99 per share (as of Sep 23, 2026, price €4.49). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Witbe Net SA (ALWIT)?
Balance-sheet figures for Witbe Net SA (as of Sep 23, 2026): return on equity −13.0%, debt of 0.35 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is ALWIT from its 52-week high?
Witbe Net SA trades at €4.49, at its 52-week high of €4.49 and 234% above the low of €1.35 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €3.61 is for.
Which stocks are comparable to Witbe Net SA?
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 Witbe Net SA stock attractive at the current price?
The data as of Sep 23, 2026: price €4.49, calculated fair value €3.61 (−20%), Quality Score 49/100, from 13 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 ALWIT calculated?
We run Witbe Net SA through 13 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 €3.61, 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 13.2 % above its aggregate fair value. Witbe Net SA 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 Witbe Net SA (ALWIT)?
The closing price on Sep 24, 2026 was €4.49. Our model-based fair value is €3.61, about −20% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Witbe Net SA right now?
The price sits above even our optimistic bull case (€3.99). The favourable scenario is already priced in. Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Witbe Net SA

How large is the market capitalisation of Witbe Net SA (ALWIT)?
The market capitalisation of Witbe Net SA is €18.5M. 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 Witbe Net SA (ALWIT)?
The price-to-sales ratio of Witbe Net SA is 0.65 (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 Witbe Net SA (ALWIT)?
Earnings per share at Witbe Net SA are €−0.1700. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Witbe Net SA (ALWIT)?
The net margin of Witbe Net SA is −3.5% (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 Witbe Net SA (ALWIT)?
The return on equity (ROE) of Witbe Net SA is −13.0% (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 Witbe Net SA (ALWIT)?
On an EBIT basis the return on assets of Witbe Net SA is 15.4% (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 Witbe Net SA (ALWIT)?
The operating margin of Witbe Net SA is −3.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Witbe Net SA (ALWIT)?
Revenue at Witbe Net SA is growing +0.7% versus a year earlier (3y avg −9.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Witbe Net SA (ALWIT)?
Earnings per share at Witbe Net SA are growing −69.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Witbe Net SA (ALWIT) carry?
The net debt of Witbe Net SA is €1.9M (fiscal year 2025, ≈ 2.1 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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