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Boiron SA (BOI) Fair Value & Analysis

Healthcare · FR · Market cap €477M

BS Boiron SA BOI · PA
Price€27.20
Fair Value€31.88
Upside+17.2%
Quality69/100
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Weak Growth
Thin margins · 6.5% net margin
Low debt · generates free cash flow
4.95% dividend yield
Ranks above peers (12/15)
Moderate moat 46/100
Evidence: High Range €23.86 – €40.12 Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 27 days ago

Share price +0.7% over the past month.

A solid business, screening 17% undervalued on our models.

What matters now

  • Our model range runs from €23.86 (bear) to €40.12 (bull), base €31.88. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 69/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€38.90 €19.92 Fair Value €31.88 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range €19.92 – €38.90 · fair‑value band €23.86 – €40.12 · the €27.20 price screens below the €31.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Boiron SA (BOI) currently trades at €27.20, while our model-based Fair Value estimate is €31.88, implying the stock looks roughly 17.2% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Healthcare sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Boiron SA generated revenue of €501M at a net margin of 6.5%. Revenue declined 1.4% year over year. It earns a return on equity of 8.5%. The balance sheet holds a net cash position of €47.9M. Fundamentals as of Jul 14, 2026

Our scenario range runs from €23.86 (bear case) to €40.12 (bull case); at €27.20, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 16% below its 52-week high and 30% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at 17%, BOI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €18.78 €22.69 €28.89 80
Residual Income €18.03 €19.10 €20.35 76
Rev-Margin DCF €20.08 €27.76 €37.23 74
All 24 models by family
DCF Models
FCF DCF €18.35 €22.46 €29.54 38
Owner Earnings €17.40 €21.24 €27.84 31
5Y Revenue Exit €20.08 €27.39 €38.12 39
5Y EBITDA Exit €26.25 €38.01 €53.72 41
5Y P/E Exit €25.46 €36.66 €50.12 38
10Y Revenue Exit €18.80 €23.99 €29.63 36
10Y EBITDA Exit €22.65 €30.08 €38.17 37
10Y P/E Exit €22.21 €29.30 €36.20 35
Earnings-Based
Graham-Dodd €12.78 €16.84 €19.35 54
EPV €16.38 €18.02 €19.38 59
Dividend Discount
Gordon GGM €9.32 €10.05 €11.13 70
DDM Multi-Stage €9.32 €11.25 €13.64 61
Multiples
P/E Multiple €31.02 €41.36 €51.70 63
P/S Multiple €23.97 €31.96 €39.95 58
P/B Multiple €23.97 €31.96 €39.95 55
EV/EBIT €30.35 €39.02 €47.68 53
EV/EBITDA €37.01 €47.89 €58.77 54
EV/Revenue €22.91 €30.86 €38.81 43
Asset-Based
NCAV (Graham) €11.31 €15.16 €22.62 50
Growth DCF
Growth DCF €18.78 €22.69 €28.89 80
Rev-Margin DCF €20.08 €27.76 €37.23 74
Economic Profit
Residual Income €18.03 €19.10 €20.35 76
ROIC Compounder €16.38 €18.02 €19.38 72
Growth Earnings
Growth-Adj P/E €21.87 €31.24 €40.61 68

Widest divergence: Multiples (€31.96) versus Dividend Discount (€10.05). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €501M
Revenue growth (YoY) -1.4%
Net margin 6.5%
Return on equity 8.5%
Free cash flow €29.7M FY2025
P/E ratio 14.6
More key figures
Operating margin 11.6%
EPS (TTM) €1.88
Dividend yield 5.0%
EPS growth (YoY) +166%
Net cash €47.9M FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 68 · Market factors (momentum, volatility) 65

Profitability 55
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 89
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 75
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Boiron SA manufactures and sells homeopathic medicines in France, rest of Europe, North America, and internationally. The company offers non-proprietary homeopathic medicines and homeopathic specialties; and other healthcare products, including medical devices, invitro diagnostics, herbal medicine, food supplements, cosmetics, and CBD-based products.

Full company description

Boiron SA manufactures and sells homeopathic medicines in France, rest of Europe, North America, and internationally. The company offers non-proprietary homeopathic medicines and homeopathic specialties; and other healthcare products, including medical devices, invitro diagnostics, herbal medicine, food supplements, cosmetics, and CBD-based products. It also provides homeopathic specialties comprising Oscillococcinum to treat influenza symptoms, such as fever, chills, headaches, and aches; Stodal and Stodaline for treating coughs; Arnigel for adjunctive local treatment of benign trauma in the absence of open wounds; Camilia for the treatment of teething problems for babies; Sédatif PC to treat anxiety and emotional, and minor sleep disorders; Coryzalia for the treatment of cold symptoms and rhinitis; Homéoptic to treat eye discomfort and irritation due to various causes for adults and children; Homéovox for vocal disorders; Homéoplasmine for treating irritated skin and redness; Varésol to treat symptoms of chickenpox; and Arnicare Arthritis for use in the treatment of benign trauma pain. In addition, it offers Dermoplasmine, a plant based multi-use balm that repairs and protects irritated and damaged skin; COVID self-tests and rapid antigenic tests; LABIAMEO, that used to treat outbreaks of localized cold sores; and CONVAMEO to treat physical and mental asthenia. The company offers its products through distribution centers, pharmacies, pharmacy chains, wholesalers, grocery and drugstores, health food stores, and online retail. Boiron SA was founded in 1932 and is based in Messimy, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Boiron SA reported revenue of €501M in FY2025 versus €455M in FY2021, a compound +2.4%/yr. Reported net income was €32.6M in FY2025, compounding +3.4%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€501M
Latest YoY
+2.8%
Avg. growth/yr (3Y)
−2.1%
Avg. growth/yr (5Y)
−0.5%
Avg. growth/yr (24Y)
+2.7%
Revenue +2.4%/yr
FY21 €455M
FY22 €534M
FY23 €493M
FY24 €488M
FY25 €501M
Net income +3.4%/yr
FY21 €28.6M
FY22 €44.7M
FY23 €35.8M
FY24 €11.3M
FY25 €32.6M

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Cite: Fair Value Calculator (2026). "Boiron SA Fair Value". https://www.fairvalue-calculator.com/stock/BOI

Peer Group

Drug Manufacturers - Specialty & Generic · 626 stocks

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.

Quality Score 69 · Top 25%
Fair Value upside +17% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 5% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 12% · Above median
Revenue growth -1% · Below median
Dividend yield (TTM) 5.0% · Top 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/E (TTM) 14.6× · Cheaper than median
P/B 1.40× · Cheaper than median
P/S (TTM) 1.10× · Cheaper than median
P/FCF 18.6× · Pricier than 75% of peers
EV/EBITDA 6.9× · Cheaper than median
PEG 2.38× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 56 · sector 7
FUTURE 0 · sector 20
PAST 34 · sector 23
HEALTH 100 · sector 97
DIVIDEND 99 · sector 34

Insider activity: 45/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.19 ¥25.94 -51%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,933 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹7,316 ₹1,943 -73%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,763 ₹1,329 -72%
PharmaEssentia Corporation 6446 1,285 TWD 221.01 TWD -83%
Cipla Limited CIPLA ₹1,439 ₹1,001 -30%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,151 ₹703.32 -39%
Lupin Limited LUPIN ₹2,443 ₹2,477 +1%
Mankind Pharma Limited MANKIND ₹2,484 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,211 ₹874.79 -28%

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Frequently asked questions

Is Boiron SA (BOI) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of €31.88 versus a price of €27.20, about +17% (undervalued).
What is the fair value of BOI?
Our model-based fair value for Boiron SA is €31.88 (as of Jul 14, 2026), built from audited fundamentals. The current price is €27.20.
What is the quality score of BOI?
Boiron SA has a Quality Score of 69/100. 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 revenue of Boiron SA (BOI)?
Boiron SA reported trailing-twelve-month revenue of about €501M (latest available figure, as of Jul 14, 2026).
What is the net profit margin of BOI?
The net profit margin of Boiron SA is about 6.5%, meaning it keeps roughly 6.5% of revenue as net income. Based on the latest reported figures.
Does Boiron SA pay a dividend?
Boiron SA currently shows a dividend yield of about 4.82% relative to its recent price (as of Jul 14, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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