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Clínica Baviera, S.A (CBAV) Fair Value & Analysis

Healthcare · ES · Market cap €920M

CB Clínica Baviera, S.A CBAV · MC
Price€61.40
Fair Value€58.94
Upside-4.0%
Quality60/100
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Healthy Growth
Solidly profitable · 13.8% net margin
Low debt · generates free cash flow
2.74% dividend yield
Ranks above peers (11/15)
Wide moat 77/100
Evidence: High Range €35.32 – €73.68 Share as image

Fair value as of: Jul 13, 2026

From 26 valuation models · updated 27 days ago

Fair value updated Jul 13, 2026, revised from €58.97 to €58.94 (−0.1%) since Jun 24, 2026. Share price +7.0% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (€35.32 to €73.68) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€61.40 €11.14 Fair Value €58.94 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range €11.14 – €61.40 · fair‑value band €35.32 – €73.68 · the €61.40 price screens above the €58.94 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Clínica Baviera, S.A (CBAV) currently trades at €61.40, while our model-based Fair Value estimate is €58.94, implying the stock looks roughly 4.0% fairly valued today. The Quality Score stands at 60/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Clínica Baviera, S.A generated revenue of €305M at a net margin of 13.8%. Revenue grew 10.6% year over year. It earns a return on equity of 41.0%. Net debt stands at €63.6M. Fundamentals as of Jul 13, 2026

Our scenario range runs from €35.32 (bear case) to €73.68 (bull case); at €61.40, 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 near its 52-week high and 61% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -48% fair-value upside, at -4%, CBAV 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 €30.13 €47.93 €73.43 80
Residual Income €14.60 €18.57 €85.80 76
Rev-Margin DCF €32.43 €56.13 €86.65 74
All 26 models by family
DCF Models
FCF DCF €30.59 €50.84 €81.72 38
Owner Earnings €24.30 €40.38 €64.92 31
5Y Revenue Exit €32.43 €56.73 €89.66 39
5Y EBITDA Exit €43.04 €78.54 €123.17 41
5Y P/E Exit €36.65 €65.40 €98.18 38
10Y Revenue Exit €30.29 €51.81 €84.57 36
10Y EBITDA Exit €37.70 €66.39 €110.11 37
10Y P/E Exit €33.83 €57.61 €91.07 35
Earnings-Based
Graham-Dodd €18.22 €83.93 €115.24 54
Lynch FV €22.07 €31.53 €40.99 50
PEG = 1.0 €22.07 €31.53 €40.99 46
EPV €21.63 €24.58 €27.04 59
Dividend Discount
Gordon GGM €12.80 €23.07 €31.76 70
DDM Multi-Stage €12.80 €21.07 €24.64 61
Multiples
P/E Multiple €44.21 €58.94 €73.68 63
P/S Multiple €34.16 €45.55 €56.93 58
P/B Multiple €23.16 €30.88 €38.60 55
EV/EBIT €48.15 €64.20 €80.26 53
EV/EBITDA €55.36 €73.83 €92.29 54
EV/Revenue €34.36 €49.09 €63.82 43
Asset-Based
NCAV (Graham) €3.43 €4.60 €6.86 50
Growth DCF
Growth DCF €30.13 €47.93 €73.43 80
Rev-Margin DCF €32.43 €56.13 €86.65 74
Economic Profit
Residual Income €14.60 €18.57 €85.80 76
ROIC Compounder €23.66 €29.32 €35.67 72
Growth Earnings
Growth-Adj P/E €36.28 €51.83 €67.38 68

Widest divergence: DCF Models (€56.73) versus Asset-Based (€4.60). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €305M
Revenue growth (YoY) +10.6%
Net margin 13.8%
Return on equity 41.0%
Free cash flow €46.5M FY2025
P/E ratio 21.2
More key figures
Operating margin 22.2%
EPS (TTM) €2.74
Dividend yield 2.6%
EPS growth (YoY) +12.8%
Net debt €63.6M FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 63 · Market factors (momentum, volatility) 76

Profitability 79
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 26
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 91
Distance to the 52-week high (market factor)
Net Issuance 67
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

Clínica Baviera, S.A., a medical company, provides ophthalmologic medicine services in Spain, Germany, and rest of Europe. The company offers refractive, presbyopia, and cataract surgeries; and oculoplastia, corneal disease, dry eye, strabismus, pediatric ophthalmology, glaucoma, neuro-ophthalmological, disorders, and blepharoplasty treatments.

Full company description

Clínica Baviera, S.A., a medical company, provides ophthalmologic medicine services in Spain, Germany, and rest of Europe. The company offers refractive, presbyopia, and cataract surgeries; and oculoplastia, corneal disease, dry eye, strabismus, pediatric ophthalmology, glaucoma, neuro-ophthalmological, disorders, and blepharoplasty treatments. It also provides external and internal consultations, surgery treatments, and rehabilitation services. The company was formerly known as Clínica Oftalmológica Baviera, S.L. and changed its name to Clínica Baviera, S.A. in 2000. Clínica Baviera, S.A. was incorporated in 1992 and is based in Madrid, Spain. Clínica Baviera, S.A. is a subsidiary of Aier Eye International (Europe), S.L.U.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Clínica Baviera, S.A reported revenue of €302M in FY2025 versus €173M in FY2021, a compound +15.0%/yr. Reported net income was €42.9M in FY2025, compounding +11.3%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€302M
Latest YoY
+14.9%
Avg. growth/yr (3Y)
+15.0%
Avg. growth/yr (5Y)
+19.7%
Avg. growth/yr (20Y)
+10.2%
Revenue +15.0%/yr
FY21 €173M
FY22 €198M
FY23 €225M
FY24 €263M
FY25 €302M
Net income +11.3%/yr
FY21 €27.9M
FY22 €30.1M
FY23 €36.7M
FY24 €40.2M
FY25 €42.9M

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Cite: Fair Value Calculator (2026). "Clínica Baviera, S.A Fair Value". https://www.fairvalue-calculator.com/stock/CBAV

Peer Group

Diagnostics & Research · 136 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 60 · Above median
Fair Value upside −4% · Top 25%
Return on equity (TTM) 41% · Top 25%
Return on assets 16% · Top 25%
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth 11% · Above median
Dividend yield (TTM) 2.7% · Top 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Diagnostics & Research median · lower = cheaper

P/E (TTM) 20.9× · Cheaper than median
P/B 9.67× · Pricier than 75% of peers
P/S (TTM) 3.49× · Pricier than median
P/FCF 22.9× · Pricier than 75% of peers
EV/EBITDA 12.9× · Cheaper than median
PEG 2.70× · 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 28 · sector 0
FUTURE 53 · sector 27
PAST 100 · sector 10
HEALTH 97 · sector 96
DIVIDEND 55 · sector 21

Insider activity: 35/100

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 Diagnostics & Research stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Thermo Fisher Scientific Inc TMO $543.19 $308.19 -43%
Danaher Corporation DHR $199.66 $103.88 -48%
WuXi AppTec Co 2359 HK$160.70 HK$125.20 -22%
Lonza Group LONN CHF 567.80 CHF 259.80 -54%
IDEXX Laboratories, Inc IDXX $567.44 $255.77 -55%
Agilent Technologies, Inc A $131.46 $62.70 -52%
Waters Corporation WAT $368.98 $121.96 -67%
IQVIA Holdings IQV $207.85 $134.18 -35%
Integrated Diagnostics Holdings IDHC $0.0050 $0.0053 +5%
Illumina, Inc ILMN $186.65 $95.51 -49%

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Frequently asked questions

Is Clínica Baviera, S.A (CBAV) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of €58.94 versus a price of €61.40, about −4% (fairly valued).
What is the fair value of CBAV?
Our model-based fair value for Clínica Baviera, S.A is €58.94 (as of Jul 13, 2026), built from audited fundamentals. The current price is €61.40.
What is the quality score of CBAV?
Clínica Baviera, S.A has a Quality Score of 60/100. 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 Clínica Baviera, S.A (CBAV)?
Clínica Baviera, S.A reported trailing-twelve-month revenue of about €305M (latest available figure, as of Jul 13, 2026).
What is the net profit margin of CBAV?
The net profit margin of Clínica Baviera, S.A is about 13.8%, meaning it keeps roughly 13.8% of revenue as net income. Based on the latest reported figures.
Does Clínica Baviera, S.A pay a dividend?
Clínica Baviera, S.A currently shows a dividend yield of about 2.64% relative to its recent price (as of Jul 13, 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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