Ipsen S.A (IPN) Fair Value & Analysis

Healthcare · FR · Market cap €13.3B

A strong business, but screening 27% overvalued on our models.

What matters now

• A high-quality business (quality 75/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
• The price sits above even our optimistic bull case (€147.83). The favourable scenario is already priced in.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €73.95 – €171.10 · fair‑value band €88.70 – €147.83 · the €161.90 price screens above the €118.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

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Analysis

Ipsen S.A (IPN) currently trades at €161.90, while our model-based Fair Value estimate is €118.26, implying the stock looks roughly 27.0% overvalued today. We read business quality at 75/100 (high 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, Ipsen S.A generated revenue of €3.9B at a net margin of 11.3%. Revenue grew 9.3% year over year. It earns a return on equity of 10.4%. The balance sheet holds a net cash position of €471M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €88.70 (bear case) to €147.83 (bull case); at €161.90, the current price sits above 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 7% below its 52-week high and 62% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at -27%, IPN 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.

Widest divergence: DCF Models (€167.92) versus Dividend Discount (€21.85). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Ipsen S.A., a biopharmaceutical company, develops and commercializes medicines in the areas of oncology, rare disease, and neuroscience in North America, Europe, and internationally.

Full company description

Ipsen S.A., a biopharmaceutical company, develops and commercializes medicines in the areas of oncology, rare disease, and neuroscience in North America, Europe, and internationally. It engages in the development of Somatuline for neuroendocrine tumors and acromegaly indications; and Dysport for motor muscular disorders and medical aesthetics indications; and Decapeptyl for advanced metastatic prostate cancer, uterine fibroids, central precocious puberty, endometriosis, female infertility, and early-stage breast cancer in combination with hormone therapy. The company also develops Cabometyx for renal cell carcinoma, second line hepatocellular carcinoma, differentiated thyroid cancer, and neuroendocrine tumors; Onivyde for second-line metastatic pancreatic cancer; and Bylvay for the treatment of progressive familial intrahepatic cholestasis and cholestatic pruritus in patients with both PFIC and Alagille syndrome. In addition, it is involved in the development of Iqirvo for the second line treatment for primary biliary cholangitis; Sohonos for the treatment to reduce new, abnormal bone formation in soft and connective tissues, in people living with ultra-rare bone disease, and fibrodysplasia ossificans progressiva; and IPN60340 in Phase I/II clinical trial for first line acute myeloid leukemia indications. Further, the company develops Tazverik + rituximab and lenalidomide in Phase III clinical trials for second line follicular lymphoma indications; Tovorafenib in Phase III clinical trials for first line pediatric low-grade gliomas indications; and IPN01194, IPN01195, IPN60300, and IPN01203 in Phase I for solid tumors indications; and IPN10200 in Phase II clinical trials for aesthetic and therapeutic indications. Ipsen S.A. was founded in 1929 and is headquartered in Paris, France.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ipsen S.A reported revenue of €3.7B in FY2025 versus €2.7B in FY2021, a compound +7.5%/yr. Reported net income was €445M in FY2025, compounding −8.9%/yr from FY2021.

IPN screens 27% overvalued. Compare with Jiangsu Hengrui Pharmaceuticals Co →

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

• Ipsen SA (IPSEY) (H1 2026) Earnings Call Highlights: Record Sales and Margin Growth Amid ... Yahoo Finance · Jul 30, 2026
• Ipsen slips despite raising outlook on broad-based drug sales growth Yahoo Finance · Jul 30, 2026
• Ipsen delivers excellent H1 2026 results and upgrades its full-year guidance Yahoo Finance · Jul 30, 2026
• Ipsen nominates Catherine Bradley to its Board of Directors as independent Director Yahoo Finance · Jul 29, 2026

Peer Group

Drug Manufacturers - Specialty & Generic · 625 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.

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

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 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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

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Frequently asked questions

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.