illumin Holdings Inc. (ILLM) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of illumin Holdings Inc. stock C$1.21, price C$0.53, upside +128.3%, quality 52 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range C$0.5300 – C$11.67 · fair‑value band C$1.08 – C$1.41 · the C$0.5300 price screens below the C$1.21 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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illumin Holdings Inc., a technology company, provides digital media solutions in Canada, the United States, Europe, Latin America, and internationally.
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The company offers a programmatic marketing platform that enables advertisers to connect with their audiences across video, mobile, out-of-home, social, CTV and online display advertising campaigns.
Its platform also allows advertisers to manage their purchasing of online display advertising in real-time using programmatic ad buying.
In addition, the company offers illumin platform, an advertising automation technology that provides planning, media buying, and omnichannel intelligence, as well as allows advertisers to map their consumer journey playbooks across screens and execute in real-time using programmatic technology.
It serves Fortune 500 enterprises and small to mid-sized businesses. The company was formerly known as AcuityAds Holdings Inc. and changed its name to illumin Holdings Inc. in June 2023. illumin Holdings Inc. was founded in 2009 and is headquartered in Toronto, Canada.
Stock analysis
illumin Holdings Inc. (ILLM) currently trades at C$0.5300, while our model-based Fair Value estimate is C$1.21, implying the stock looks roughly 56% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of C$1.32 per share, and 6 of the 6 models we run sit above the C$0.5300 price.
Bear case: the Asset-Based group reads lowest at C$0.7300, and 0 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: C$1.08 (bear) to C$1.41 (bull), the price of C$0.5300 sits below 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 52/100 (solid quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
illumin Holdings Inc. reported revenue of C$144M in FY2025 versus C$122M in FY2021, a compound +4.2%/yr. Reported net income was −C$14.7M in FY2025.
Key figures
Market cap C$27.4M (≈ $19.4M) Micro · P/S ratio 0.16 · EPS (TTM) C$−0.1900 · Net margin −5.8% · Return on equity −14.9% · Return on assets (EBIT) −4.8% (5-year average) · Operating margin −3.3% · Revenue (TTM) C$171M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 15 out of 100 (low confidence).
What moves the price
The share trades about 53% below its 52-week high and at 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 128%, ILLM screens cheaper than that median.
Fair Value models
BearC$1.08Fair Value C$1.21BullC$1.41
Price C$0.5300 · Upside +128.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
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.44/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.3%
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.
+6.5%
Start year 2020 (pandemic). Over 10 years: +21.4% 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.
+23.9%
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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.
6.7% (2020) → −10.3% (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
Little optimism in the price
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).
less than -40 %
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+9.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about +7.5% a year for the forecasts.
Price, fair value, quality and upside side by side.
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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.Advertising Agencies · 170 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+128.3% · Top 25%
Profitability
Return on assets−13.3% · Bottom 25%
Net margin (12 months)−5.8% · Bottom 25%
Operating margin (12 months)−3.3% · Below median
Growth and dividend
Revenue growth (quarter YoY)11.6% · Above median
Valuation Multiplesvs Advertising Agencies median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "illumin Holdings Inc. Fair Value". https://www.fairvalue-calculator.com/stock/ILLM
Frequently asked questions
Is illumin Holdings Inc. (ILLM) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of C$1.21 versus a price of C$0.5300, about +128% upside (undervalued).
What is the fair value of ILLM?
Our model-based fair value for illumin Holdings Inc. is C$1.21 (as of Nov 8, 2026), built from audited fundamentals. The current price: C$0.5300.
What is the quality score of ILLM?
illumin Holdings Inc. has a Quality Score of 52/100. 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 illumin Holdings Inc. (ILLM)?
Our model-based price target is the fair value of C$1.21 (as of Nov 8, 2026) from 6 valuation models. Cautious scenario C$1.08, optimistic scenario C$1.41. It is a calculation from audited fundamentals, not an analyst target.
What is the illumin Holdings Inc. stock forecast for 2026?
Our models put fair value at C$1.21, about +128% upside versus a price of C$0.5300 (undervalued). Cautious scenario C$1.08, optimistic scenario C$1.41. The calculation is refreshed regularly with new filings.
What is the revenue of illumin Holdings Inc. (ILLM)?
illumin Holdings Inc. reported trailing-twelve-month revenue of about C$171M (latest available figure, as of Nov 8, 2026).
What growth is priced into illumin Holdings Inc. (ILLM)?
For today's price to be fair in a discounted-cash-flow model, illumin Holdings Inc. would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 9.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.5 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of ILLM use?
Our models discount illumin Holdings Inc. at 9.9 %: a base by market capitalisation (nano), damped by beta 1.17, country premium for Canada. 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 illumin Holdings Inc. that is less than minus 40 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.9 %) and the same formula as our fair value.
How much growth has illumin Holdings Inc. (ILLM) delivered so far?
Over the past 5 years revenue at illumin Holdings Inc. grew +6.5 % a year. The price currently implies free-cash-flow growth of less than minus 40 % per 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 illumin Holdings Inc. (ILLM) growing?
The median revenue growth in the sector is +3.8 % a year. That is the yardstick for the growth priced into illumin Holdings Inc. (less than minus 40 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of illumin Holdings Inc. (ILLM)?
The free-cash-flow yield on the price is 3.88 %: that much free cash flow illumin Holdings Inc. produces per unit of market value. When it exceeds the discount rate of our models (9.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of illumin Holdings Inc. (ILLM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For illumin Holdings Inc. it is C$1.21 per share (as of Nov 8, 2026), against a price of C$0.5300. It is the blended result of 6 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is illumin Holdings Inc. stock overvalued or undervalued in 2026?
As of Nov 8, 2026, ILLM trades below its calculated fair value: price C$0.5300, fair value C$1.21, a gap of about +128% (undervalued). 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 ILLM?
No. The price is what the market pays today (C$0.5300); the fair value is what the company's own numbers justify (C$1.21). For illumin Holdings Inc. the two are C$0.6800 per share apart. That gap is exactly why we show both numbers side by side.
How much is illumin Holdings Inc. worth?
The market values illumin Holdings Inc. at about C$27.4M (market capitalisation, as of Nov 8, 2026). Per share that is C$0.5300; our models calculate a fair value of C$1.21 per share.
What do the bullish and bearish scenarios say about ILLM?
Our models span a range for illumin Holdings Inc.: cautious scenario C$1.08, base C$1.21, optimistic C$1.41 per share (as of Nov 8, 2026, price C$0.5300). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of illumin Holdings Inc. (ILLM)?
Balance-sheet figures for illumin Holdings Inc. (as of Nov 8, 2026): return on equity −14.9%. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is ILLM from its 52-week high?
illumin Holdings Inc. trades at C$0.5300, about 53% below its 52-week high of C$1.12 and at the low of C$0.5300 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of C$1.21 is for.
Which stocks are comparable to illumin Holdings Inc.?
From the same area (Communication Services) we also value AppLovin Corporation, Publicis Groupe S.A, Omnicom Group, Focus Media Information Technology Co, 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 illumin Holdings Inc. stock attractive at the current price?
The data as of Nov 8, 2026: price C$0.5300, calculated fair value C$1.21 (+128%), Quality Score 52/100, from 6 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 ILLM calculated?
We run illumin Holdings Inc. through 6 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of C$1.21 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. illumin Holdings Inc. currently trades 56% below its own fair value, and the market average says nothing about that. 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 illumin Holdings Inc. (ILLM)?
The closing price on Nov 6, 2026 was C$0.5300. Our model-based fair value is C$1.21, about +128% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with illumin Holdings Inc. right now?
The price is below even our cautious bear case (C$1.08). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of illumin Holdings Inc.
How large is the market capitalisation of illumin Holdings Inc. (ILLM)?
The market capitalisation of illumin Holdings Inc. is C$27.4M (≈ $19.4M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of illumin Holdings Inc. (ILLM)?
The price-to-sales ratio of illumin Holdings Inc. is 0.16 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of illumin Holdings Inc. (ILLM)?
Earnings per share at illumin Holdings Inc. are C$−0.1900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of illumin Holdings Inc. (ILLM)?
The net margin of illumin Holdings Inc. is −5.8% (last twelve months). 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 illumin Holdings Inc. (ILLM)?
The return on equity (ROE) of illumin Holdings Inc. is −14.9% (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 illumin Holdings Inc. (ILLM)?
On an EBIT basis the return on assets of illumin Holdings Inc. is −4.8% (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 illumin Holdings Inc. (ILLM)?
The operating margin of illumin Holdings Inc. is −3.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at illumin Holdings Inc. (ILLM)?
Revenue at illumin Holdings Inc. is growing +11.6% 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 fast are earnings growing at illumin Holdings Inc. (ILLM)?
Earnings per share at illumin Holdings Inc. are growing −80.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does illumin Holdings Inc. (ILLM) hold?
illumin Holdings Inc. holds more cash than debt, C$39.2M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 8, 2026