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hVIVO plc (HVO) Fair Value & Analysis

Healthcare · GB · Market cap 47.2M GBX

HP hVIVO plc HVO · LSE
Price£0.0685
Fair Value£0.0832
Upside+21.5%
Quality37/100
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Mixed Growth
Loss-making · -12.1% net margin
negative free cash flow
Trails peers (3/9)
Narrow moat 8/100
Evidence: Low Range £0.0627 – £0.0969 Share as image

Fair value as of: Jul 17, 2026

From 4 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from £0.0852 to £0.0832 (−2.3%) since Jun 26, 2026.

Below-average quality, screening 21% undervalued on our models.

What matters now

  • Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
  • Our model range runs from £0.0627 (bear) to £0.0969 (bull), base £0.0832. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 37/100 (below-average quality) with low evidence: read the verdict with care.
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Price vs Fair Value (5 years)

£0.3724 £0.0459 Fair Value £0.0832 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range £0.0459 – £0.3724 · fair‑value band £0.0627 – £0.0969 · the £0.0685 price screens below the £0.0832 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

Full chart & analysis →

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Analysis

hVIVO plc (HVO) currently trades at £0.0685, while our model-based Fair Value estimate is £0.0832, implying the stock looks roughly 21.5% undervalued today. The Quality Score stands at 37/100 (below-average 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: low), always confirm before acting.

Over the trailing twelve months, hVIVO plc generated revenue of £49.7M at a net margin of -12.1%. Revenue declined 16.6% year over year. It earns a return on equity of -14.5%. Fundamentals as of Jul 17, 2026

Our scenario range runs from £0.0627 (bear case) to £0.0969 (bull case); at £0.0685, 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. For context, the median of 10 Healthcare peers we cover trades at -48% fair-value upside, at 21%, HVO 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 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
Highest evidence
Gordon GGM £0.0100 £0.0200 £0.0300 70
DDM Multi-Stage £0.0100 £0.0200 £0.0300 61
EV/EBITDA £0.0900 £0.1100 £0.1300 54
All 4 models by family
Dividend Discount
Gordon GGM £0.0100 £0.0200 £0.0300 70
DDM Multi-Stage £0.0100 £0.0200 £0.0300 61
Multiples
EV/EBITDA £0.0900 £0.1100 £0.1300 54
Asset-Based
NCAV (Graham) £0.0300 £0.0400 £0.0600 50

Widest divergence: Multiples (£0.1100) versus Dividend Discount (£0.0200). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) 49.7M GBX
Revenue growth (YoY) -16.6%
Net margin -12.1%
Return on equity -14.5%
Free cash flow −14.8M GBX FY2025
Operating margin -17.8%
More key figures
EPS (TTM) £-0.0100
EPS growth (YoY) -55.1%
Net debt 490K GBX FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 41 · Market factors (momentum, volatility) 19

Profitability 9
Margins and returns on capital today
Quality Growth 5
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 45
Disciplined investing over empire-building
Low Volatility 4
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 80
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

hVIVO plc operates as a full-service early specialist contract research organisation in the United Kingdom, Europe, and North America. It provides end-to-end early clinical development services to the biopharmaceutical industry, including phase I capabilities and world leading human challenge trial services.

Full company description

hVIVO plc operates as a full-service early specialist contract research organisation in the United Kingdom, Europe, and North America. It provides end-to-end early clinical development services to the biopharmaceutical industry, including phase I capabilities and world leading human challenge trial services. The company is involved in the testing of vaccines and antivirals using human challenge clinical trials; and provision of laboratory services, including virology, immunology and biomarker analysis, as well as assay development, sample analysis, and data interpretation. In addition, the company offers services combined with specialisms in infectious diseases, respiratory, and cardiometabolic therapeutical areas. Further, it provides pre­clinical and early clinical research services; sales and marketing services; data management; storage solutions; and statistics services, as well as drug development consultancy and services. The company was formerly known as Open Orphan Plc and changed its name to hVIVO plc in October 2022. hVIVO plc is headquartered in London, the United Kingdom.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

hVIVO plc reported revenue of £46.8M in FY2025 versus £36.9M in FY2021, a compound +6.1%/yr. Reported net income was −£6.0M in FY2025.

Growth Quality 30/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
£46.8M
Latest YoY
−25.4%
Avg. growth/yr (3Y) 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.
−1.2%
Avg. growth/yr (5Y) 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.
+17.8%
Avg. growth/yr (14Y) 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.
+22.1%
Revenue +6.1%/yr
FY21 £36.9M
FY22 £48.5M
FY23 £56.0M
FY24 £62.7M
FY25 £46.8M
Net income
FY21 −£74.0K
FY22 −£776K
FY23 £16.1M
FY24 £10.7M
FY25 −£6.0M

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Cite: Fair Value Calculator (2026). "hVIVO plc Fair Value". https://www.fairvalue-calculator.com/stock/HVO

Peer Group

Diagnostics & Research · 135 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 37 · Bottom 25%
Fair Value upside +17% · Top 25%
Return on assets -3% · Below median
Net margin (TTM) -12% · Bottom 25%
Operating margin (TTM) -18% · Bottom 25%
Revenue growth -17% · Bottom 25%

Valuation Multiples vs Diagnostics & Research median · lower = cheaper

P/B 1.67× · Cheaper than median
P/S (TTM) 1.28× · Cheaper than median

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 0
FUTURE 0 · sector 25
PAST 0 · sector 11
HEALTH 0 · sector 96
DIVIDEND 0 · sector 21

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 17, 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 hVIVO plc (HVO) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of £0.0832 versus a price of £0.0685, about +21% (undervalued).
What is the fair value of HVO?
Our model-based fair value for hVIVO plc is £0.0832 (as of Jul 17, 2026), built from audited fundamentals. The current price is £0.0685.
What is the quality score of HVO?
hVIVO plc has a Quality Score of 37/100. 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 hVIVO plc (HVO)?
hVIVO plc reported trailing-twelve-month revenue of about £49.7M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of HVO?
The net profit margin of hVIVO plc is about -12.1%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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