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LNA Santé SA (LNA) Fair Value & Analysis

Healthcare · FR · Market cap €370M

LS LNA Santé SA LNA · PA
Price€34.80
Fair Value€45.48
Upside+30.7%
Quality56/100
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Healthy Growth
Thin margins · 2.7% net margin
Moderate debt · generates free cash flow
2.69% dividend yield
Ranks above peers (11/15)
Narrow moat 38/100
Evidence: High Range €29.90 – €64.49 Share as image

Fair value as of: Jul 18, 2026

From 26 valuation models · updated 23 days ago

Share price +0.3% over the past month.

A solid business, screening 31% undervalued on our models.

What matters now

  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€29.90 to €64.49) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€52.40 €16.13 Fair Value €45.48 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range €16.13 – €52.40 · fair‑value band €29.90 – €64.49 · the €34.80 price screens below the €45.48 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

LNA Santé SA (LNA) currently trades at €34.80, while our model-based Fair Value estimate is €45.48, implying the stock looks roughly 30.7% undervalued today. The Quality Score stands at 56/100 (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, LNA Santé SA generated revenue of €913M at a net margin of 2.7%. Revenue grew 11.8% year over year. It earns a return on equity of 6.9%. Net debt stands at €812M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €29.90 (bear case) to €64.49 (bull case); at €34.80, 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 54% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at 11% fair-value upside, at 31%, LNA 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
Growth DCF €39.21 €71.87 €117.73 80
Residual Income €24.63 €25.41 €25.68 76
Rev-Margin DCF €43.07 €86.84 €142.02 74
All 26 models by family
DCF Models
FCF DCF €39.84 €76.37 €130.64 38
Owner Earnings €78.87 €139.41 €229.35 31
5Y Revenue Exit €43.07 €87.71 €147.42 39
5Y EBITDA Exit €95.15 €192.74 €314.41 41
5Y P/E Exit €24.68 €50.62 €79.13 38
10Y Revenue Exit €39.11 €78.36 €136.56 36
10Y EBITDA Exit €72.27 €147.81 €261.56 37
10Y P/E Exit €29.92 €53.84 €85.44 35
Earnings-Based
Graham-Dodd €15.95 €68.65 €93.83 54
Lynch FV €17.60 €25.14 €32.68 50
PEG = 1.0 €17.60 €25.14 €32.68 46
EPV €28.08 €34.58 €39.99 59
Dividend Discount
Gordon GGM €5.03 €9.07 €12.49 70
DDM Multi-Stage €5.03 €8.29 €9.69 61
Multiples
P/E Multiple €38.70 €51.59 €64.49 63
P/S Multiple €29.90 €39.87 €49.83 58
P/B Multiple €29.90 €39.87 €49.83 55
EV/EBIT €73.76 €104.86 €135.96 53
EV/EBITDA €144.25 €198.84 €253.43 54
EV/Revenue €47.06 €75.59 €104.13 43
Asset-Based
NCAV (Graham) €16.04 €21.49 €32.08 50
Growth DCF
Growth DCF €39.21 €71.87 €117.73 80
Rev-Margin DCF €43.07 €86.84 €142.02 74
Economic Profit
Residual Income €24.63 €25.41 €25.68 76
ROIC Compounder €28.08 €36.65 €50.16 72
Growth Earnings
Growth-Adj P/E €30.21 €43.16 €56.11 68

Widest divergence: DCF Models (€78.36) versus Dividend Discount (€8.29). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €913M
Revenue growth (YoY) +11.8%
Net margin 2.7%
Return on equity 7.7%
Free cash flow €59.3M FY2025
P/E ratio 15.3
More key figures
Operating margin 8.6%
EPS (TTM) €2.35
Dividend yield 2.7%
EPS growth (YoY) +35.3%
Net debt €812M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 52 · Market factors (momentum, volatility) 76

Profitability 26
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 18
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 73
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 93
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

LNA Santé SA engages in the management and operation of healthcare facilities and medical residences for able-bodied, semi-dependent, or dependent elderly people in France. The company operates medical care and rehabilitation units; mental health clinics; health centres; and care homes.

Full company description

LNA Santé SA engages in the management and operation of healthcare facilities and medical residences for able-bodied, semi-dependent, or dependent elderly people in France. The company operates medical care and rehabilitation units; mental health clinics; health centres; and care homes. It also provides respiratory assistance and rehabilitation, cancerology, diabetology, pain management, therapeutic education for the patient and his/her family, geriatrics, enteral and parenteral nutrition, obstetrics, antenatal and postnatal, complex dressings and specific care, post-operative care, anti-cancer chemotherapy, post-chemotherapy, radiotherapy and aplasia monitoring, psychological or social care, neurological and orthopedic rehabilitation, palliative care, intensive nursing care, intravenous treatment/infusion, blood transfusion, education for the patient and his/her loved ones, paracentesis, pleural or peritoneal drainage, and other treatment services. In addition, the company offers general, ENT carcinological, digestive and urology, dental, spinal, cosmetic, gynecological and obstetric, maxillo-facial, eye, ENT, orthopedic and trauma, plastic and cosmetic facial, stomatological, urological, vascular, and visceral and digestive surgery, as well as digestive endoscopies and hepato-gastroenterology services. LNA Santé SA was founded in 1990 and is based in Vertou, France.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

LNA Santé SA reported revenue of €913M in FY2025 versus €689M in FY2021, a compound +7.3%/yr. Reported net income was €24.1M in FY2025, compounding +0.7%/yr from FY2021.

Growth Quality 75/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€913M
Latest YoY
+13.1%
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.
+7.8%
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.
+9.7%
Avg. growth/yr (21Y) 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.
+15.3%
Revenue +7.3%/yr
FY21 €689M
FY22 €728M
FY23 €736M
FY24 €807M
FY25 €913M
Net income +0.7%/yr
FY21 €23.5M
FY22 €25.8M
FY23 €23.4M
FY24 €21.8M
FY25 €24.1M
Character of growth · EPS growth decomposed (2014-2025) +4.6 % p.a.
Revenue per share +5.7 pp

of which total revenue +7.7 pp · buybacks/dilution −2.0 pp

EBIT margin +1.9 pp
Tax rate −0.8 pp
Residual (interest, one-offs) −2.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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

Peer Group

Medical Care Facilities · 261 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 56 · Above median
Fair Value upside +31% · Above median
Return on equity (TTM) 8% · Above median
Return on assets 3% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 9% · Above median
Revenue growth 12% · Above median
Dividend yield (TTM) 2.7% · Above median
Debt / equity 0.90× · Higher than 75% of peers

Valuation Multiples vs Medical Care Facilities median · lower = cheaper

P/E (TTM) 15.3× · Cheaper than median
P/B 1.29× · Cheaper than median
P/S (TTM) 0.47× · Cheaper than 75% of peers
P/FCF 7.2× · Pricier than median
EV/EBITDA 6.6× · Cheaper than median
PEG 1.16× · 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 74 · sector 23
FUTURE 59 · sector 24
PAST 31 · sector 30
HEALTH 55 · sector 90
DIVIDEND 54 · sector 38

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 Medical Care Facilities stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
HCA Healthcare, Inc HCA $378.85 $554.93 +46%
Fresenius SE FRE €41.73 €32.15 -23%
Dr. Sulaiman Al Habib Medical Services Group 4013 235.00 SAR 112.37 SAR -52%
IHH Healthcare Berhad, an investment holding company, Q0F 2.58 SGD 1.44 SGD -44%
Tenet Healthcare Corporation THC $194.91 $338.05 +73%
Rede D'Or São Luiz S.A RDOR3 R$36.01 R$47.31 +31%
DaVita Inc DVA $231.61 $255.97 +11%
Apollo Hospitals Enterprise Limited APOLLOHOSP ₹8,955 ₹2,955 -67%
Fresenius Medical Care AG FMS $24.68 $45.60 +85%
Aier Eye Hospital Group 300015 ¥8.68 ¥7.67 -12%

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Frequently asked questions

Is LNA Santé SA (LNA) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €45.48 versus a price of €34.80, about +31% (undervalued).
What is the fair value of LNA?
Our model-based fair value for LNA Santé SA is €45.48 (as of Jul 18, 2026), built from audited fundamentals. The current price is €34.80.
What is the quality score of LNA?
LNA Santé SA has a Quality Score of 56/100. 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 LNA Santé SA (LNA)?
LNA Santé SA reported trailing-twelve-month revenue of about €913M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of LNA?
The net profit margin of LNA Santé SA is about 2.7%, meaning it keeps roughly 2.7% of revenue as net income. Based on the latest reported figures.
Does LNA Santé SA pay a dividend?
LNA Santé SA currently shows a dividend yield of about 2.66% relative to its recent price (as of Jul 18, 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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