Pulmonx Corp (LUNG) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Pulmonx Corp stock $0.62, price $2.56, that is 75.8% below the price, quality 43 out of 100. Rating: strongly overvalued. Calculated from audited financials with one 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 5, 2026.
How to read this chart
60‑month range $1.17 – $45.10 · fair‑value band $0.4100 – $0.7700 · the $2.56 price screens above the $0.6200 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Pulmonx Corporation, a commercial-stage medical technology company that provides a minimally invasive treatment for patients with severe emphysema, a form of chronic obstructive pulmonary disease.
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It offers Zephyr Endobronchial Valve; and Chartis Pulmonary Assessment System, a balloon catheter and console system with flow and pressure sensors that are used to assess the presence of collateral ventilation.
The company also offers LungTraX Platform, a cloud-based quantitative computed tomography analysis service that provides physicians with multiple products, such as LungTraX Connect to improve workup efficiency; LungTraX Detect to enable patient identification; and StratX Lung report that is designed for solution that includes information on emphysema destruction, fissure completeness, and lobar volume to help identify target lobes for treatment with Zephyr Valves.
It serves emphysema patients in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company was formerly known as Pulmonx and changed its name to Pulmonx Corporation in December 2013.
Pulmonx Corporation was incorporated in 1995 and is headquartered in Redwood City, California.
Stock analysis
Pulmonx Corp (LUNG) currently trades at $2.56, while our model-based Fair Value estimate is $0.6200, 76% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: $0.4100 (bear) to $0.7700 (bull), the price of $2.56 sits above 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 43/100 (below-average quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Pulmonx Corp reported revenue of $90.5M in FY2025 versus $48.4M in FY2021, a compound +16.9%/yr. Reported net income was −$54.0M in FY2025.
Key figures
Market cap $136M Micro · P/S ratio 1.53 · EPS (TTM) $−1.01 · Net margin −47.9% · Return on equity −90.3% · Return on assets (EBIT) −32.4% (5-year average) · Operating margin −32.8% · Revenue (TTM) $88.8M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (medium confidence).
What moves the price
The share trades about 19% below its 52-week high and 119% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −15% fair-value upside, at −76%, LUNG screens richer than that median.
Fair Value models
Bear$0.4100Fair Value $0.6200Bull$0.7700
Price $2.56 · Downside -75.8%
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.
In the last 6 months, 4 officers or directors sold shares worth $321,079 and none bought.
SaleDavid Aaron LehmanGeneral Counsel4× since Dec 1, 2025: 51,443 shares, avg. $1.72$88,505Sep 1, 2026
SaleGeoffrey Beran RoseChief Commercial Officer4× since Dec 1, 2025: 29,956 shares, avg. $1.71$51,144Sep 1, 2026
SaleGlendon E. French IIIPresident and CEO, Director4× since Dec 1, 2025: 174,649 shares, avg. $1.67$292,325Sep 1, 2026
SaleSrikanth RadhakrishnanChief Science & Techn. Officer3× since Mar 2, 2026: 39,225 shares, avg. $1.77$69,510Sep 1, 2026
SaleDaniel P FlorinDirector23,321 shares at $1.99$46,409Dec 8, 202510b5-1 plan
Plus 6 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
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.35/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+8.0%
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.
+19.0%
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.
+22.6%
Start year 2020 (pandemic). Over 10 years: +132.7% a year
Revenue growth 12 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.
+74.3%
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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.
−98.8% (2020) → −59.3% (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
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.Medical Devices · 318 stocks
Beats the industry median on 1/9 measures
Overall it trails its industry peers.
Valuation
Quality Score43 · Below median
Fair Value upside−75.8% · Bottom 25%
Profitability
Return on assets−41.8% · Bottom 25%
Net margin (12 months)−47.9% · Bottom 25%
Operating margin (12 months)−32.8% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)6.2% · Below median
Balance sheet
Debt / equity0.68× · Highest 25%
Valuation Multiplesvs Medical Devices median · lower = cheaper
P/B2.51× · Pricier than median
P/S (12 months)1.53× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 6
FUTURE (revenue growth)31· sector 36
PAST (return on equity)0· sector 17
HEALTH (low debt)66· sector 98
DIVIDEND (yield)0· sector 34
VALUE 0: the price sits above our fair-value range.
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). "Pulmonx Corp Fair Value". https://www.fairvalue-calculator.com/stock/LUNG
Frequently asked questions
Is Pulmonx Corp (LUNG) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of $0.6200 versus a price of $2.56, about 76% lower (overvalued).
What is the fair value of LUNG?
Our model-based fair value for Pulmonx Corp is $0.6200 (as of Nov 5, 2026), built from audited fundamentals. The current price: $2.56.
What is the quality score of LUNG?
Pulmonx Corp has a Quality Score of 43/100. 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 Pulmonx Corp (LUNG)?
Our model-based price target is the fair value of $0.6200 (as of Nov 5, 2026) from 1 valuation models. Cautious scenario $0.4100, optimistic scenario $0.7700. It is a calculation from audited fundamentals, not an analyst target.
What is the Pulmonx Corp stock forecast for 2026?
Our models put fair value at $0.6200, about 76% lower versus a price of $2.56 (overvalued). Cautious scenario $0.4100, optimistic scenario $0.7700. The calculation is refreshed regularly with new filings.
What is the revenue of Pulmonx Corp (LUNG)?
Pulmonx Corp reported trailing-twelve-month revenue of about $88.8M (latest available figure, as of Nov 5, 2026).
What is the intrinsic value of Pulmonx Corp (LUNG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Pulmonx Corp it is $0.6200 per share (as of Nov 5, 2026), against a price of $2.56. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Pulmonx Corp stock overvalued or undervalued in 2026?
As of Nov 5, 2026, LUNG trades above its calculated fair value: price $2.56, fair value $0.6200, a gap of about −76% (overvalued). 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 LUNG?
No. The price is what the market pays today ($2.56); the fair value is what the company's own numbers justify ($0.6200). For Pulmonx Corp the two are $1.94 per share apart. That gap is exactly why we show both numbers side by side.
How much is Pulmonx Corp worth?
The market values Pulmonx Corp at about $136M (market capitalisation, as of Nov 5, 2026). Per share that is $2.56; our models calculate a fair value of $0.6200 per share.
What do the bullish and bearish scenarios say about LUNG?
Our models span a range for Pulmonx Corp: cautious scenario $0.4100, base $0.6200, optimistic $0.7700 per share (as of Nov 5, 2026, price $2.56). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Pulmonx Corp (LUNG)?
Balance-sheet figures for Pulmonx Corp (as of Nov 5, 2026): return on equity −90.3%, debt of 0.68 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is LUNG from its 52-week high?
Pulmonx Corp trades at $2.56, about 19% below its 52-week high of $3.17 and 119% above the low of $1.17 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $0.6200 is for.
Which stocks are comparable to Pulmonx Corp?
From the same area (Healthcare) we also value Abbott Laboratories,, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, 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 Pulmonx Corp stock attractive at the current price?
The data as of Nov 5, 2026: price $2.56, calculated fair value $0.6200 (−76%), Quality Score 43/100, from 1 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 LUNG calculated?
We run Pulmonx Corp through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $0.6200 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. Pulmonx Corp itself currently trades above fair value. 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 Pulmonx Corp (LUNG)?
The closing price on Nov 6, 2026 was $2.56. Our model-based fair value is $0.6200, about 76% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Pulmonx Corp right now?
The price sits above even our optimistic bull case ($0.7700). The favourable scenario is already priced in. Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($0.4100 to $0.7700) leaves room in how you read the outcome.
Key figures of Pulmonx Corp
How large is the market capitalisation of Pulmonx Corp (LUNG)?
The market capitalisation of Pulmonx Corp is $136M. 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 Pulmonx Corp (LUNG)?
The price-to-sales ratio of Pulmonx Corp is 1.53 (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 Pulmonx Corp (LUNG)?
Earnings per share at Pulmonx Corp are $−1.01. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Pulmonx Corp (LUNG)?
The net margin of Pulmonx Corp is −47.9% (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 Pulmonx Corp (LUNG)?
The return on equity (ROE) of Pulmonx Corp is −90.3% (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 Pulmonx Corp (LUNG)?
On an EBIT basis the return on assets of Pulmonx Corp is −32.4% (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 Pulmonx Corp (LUNG)?
The operating margin of Pulmonx Corp is −32.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Pulmonx Corp (LUNG)?
Revenue at Pulmonx Corp is growing +6.2% versus a year earlier (3y avg +19.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Pulmonx Corp (LUNG) generate?
The free cash flow of Pulmonx Corp is −$32.9M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Pulmonx Corp (LUNG) hold?
Pulmonx Corp holds more cash than debt, $13.6M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 5, 2026
