Farminveste, S.G.P.S., S.A. (MLFMV) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Farminveste, S.G.P.S., S.A. €9.27, price €4.50, upside +106.0%, quality 50 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range €1.10 – €5.55 · fair‑value band €5.48 – €12.05 · the €4.50 price screens below the €9.27 fair value. Dashed = 300-day average. As of Sep 23, 2026.
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Farminveste, S.G.P.S., S.A., through its subsidiaries, engages in the pharmacies and pharmaceutical distribution in Portugal and internationally. The company distributes pharmaceutical products; operates hospitals and clinics; and offers consultancy and technological services in the healthcare sector.
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Farminveste, S.G.P.S., S.A., through its subsidiaries, engages in the pharmacies and pharmaceutical distribution in Portugal and internationally. The company distributes pharmaceutical products; operates hospitals and clinics; and offers consultancy and technological services in the healthcare sector. It is also involved in information technologies, healthcare, health market intelligence, real estate, and other services businesses. In addition, the company is involved in the market research study in the health area; and operation of pharmacies. Further, it invests in the real estate sector. The company was incorporated in 2010 and is based in Lisbon, Portugal. Farminveste, S.G.P.S., S.A. operates as a subsidiary of Associacao Nacional das Farmacias.
Stock analysis
Farminveste, S.G.P.S., S.A. (MLFMV) currently trades at €4.50, while our model-based Fair Value estimate is €9.27, implying the stock looks roughly 51.5% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €12.16 per share, and 22 of the 24 models we run sit above the €4.50 price.
Bear case: the Dividend Discount group reads lowest at €1.87, and 2 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: €5.48 (bear) to €12.05 (bull), the price of €4.50 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 50/100 (solid quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Farminveste, S.G.P.S., S.A. reported revenue of €845M in FY2024 versus €767M in FY2020, a compound +2.5%/yr. Reported net income was €11.2M in FY2024.
Key figures
Market cap €105M · P/S ratio 0.11 · EPS (TTM) €−0.7500 · Dividend yield 4.1% · Net margin 1.3% · Return on equity 10.2% · Return on assets (EBIT) 3.9% · Operating margin 4.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 19% below its 52-week high and 50% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 35% fair-value upside, at 106%, MLFMV screens cheaper than that median.
Fair Value models
Bear €5.48Fair Value €9.27Bull €12.05
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = 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.49/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+2.1%
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.
+1.9%
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.
+2.0%
Revenue growth 9 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.
+2.2%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+85.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+81.5%
Dividend (yield on the price)4.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.18% vs −6%, picking up
Profit margin 2019 to 2024 ⓘ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.4% → 4%
2024 sits 389% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+14.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about +11.9% a year for the price.
Compare Farminveste, S.G.P.S., S.A. with another stock
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 Distribution · 83 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score50 · Below median
Fair Value upside+106% · Top 25%
Profitability
Return on equity (TTM)10% · Top 25%
Return on assets4% · Top 25%
Net margin (TTM)6% · Top 25%
Operating margin (TTM)4% · Above median
Growth and dividend
Revenue growth0% · Below median
Dividend yield (TTM)4.1% · Above median
Balance sheet
Debt / equity0.79× · Highest 25%
Valuation Multiplesvs Medical Distribution median · lower = cheaper
P/B0.80× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
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.
Is Farminveste, S.G.P.S., S.A. (MLFMV) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of €9.27 versus a price of €4.50, about +106% upside (undervalued).
What is the fair value of MLFMV?
Our model-based fair value for Farminveste, S.G.P.S., S.A. is €9.27 (as of Sep 23, 2026), built from audited fundamentals. The current price: €4.50.
What is the quality score of MLFMV?
Farminveste, S.G.P.S., S.A. has a Quality Score of 50/100. 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 Farminveste, S.G.P.S., S.A. (MLFMV)?
Our model-based price target is the fair value of €9.27 (as of Sep 23, 2026) from 24 valuation models. Cautious scenario €5.48, optimistic scenario €12.05. It is a calculation from audited fundamentals, not an analyst target.
What is the Farminveste, S.G.P.S., S.A. stock forecast for 2026?
Our models put fair value at €9.27, about +106% upside versus a price of €4.50 (undervalued). Cautious scenario €5.48, optimistic scenario €12.05. The calculation is refreshed regularly with new filings.
What is the revenue of Farminveste, S.G.P.S., S.A. (MLFMV)?
Farminveste, S.G.P.S., S.A. reported trailing-twelve-month revenue of about €931M (latest available figure, as of Sep 23, 2026).
Does Farminveste, S.G.P.S., S.A. pay a dividend?
Farminveste, S.G.P.S., S.A. currently shows a dividend yield of about 4.12% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Farminveste, S.G.P.S., S.A. (MLFMV)?
For today's price to be fair in a discounted-cash-flow model, Farminveste, S.G.P.S., S.A. would have to grow free cash flow by +14.3 % per year for five years (discount rate 12.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.0 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of MLFMV use?
Our models discount Farminveste, S.G.P.S., S.A. at 12.6 %: a base by market capitalisation (micro), damped by beta 0.33, country premium for Portugal. 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 Farminveste, S.G.P.S., S.A. that is +14.3 % per year a year over ten years, using the same discount rate (12.6 %) and the same formula as our fair value.
How much growth has Farminveste, S.G.P.S., S.A. (MLFMV) delivered so far?
Over the past 5 years revenue at Farminveste, S.G.P.S., S.A. grew +2.0 % a year. The price currently implies +14.3 % per year free-cash-flow growth a 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 Farminveste, S.G.P.S., S.A. (MLFMV) growing?
The median revenue growth in the sector is +0.0 % a year. That is the yardstick for the growth priced into Farminveste, S.G.P.S., S.A. (+14.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Farminveste, S.G.P.S., S.A. (MLFMV)?
The free-cash-flow yield on the price is 18.51 %: that much free cash flow Farminveste, S.G.P.S., S.A. produces per unit of market value. When it exceeds the discount rate of our models (12.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Farminveste, S.G.P.S., S.A. (MLFMV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Farminveste, S.G.P.S., S.A. it is €9.27 per share (as of Sep 23, 2026), against a price of €4.50. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Farminveste, S.G.P.S., S.A. stock overvalued or undervalued in 2026?
As of Sep 23, 2026, MLFMV trades below its calculated fair value: price €4.50, fair value €9.27, a gap of about +106% (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 MLFMV?
No. The price is what the market pays today (€4.50); the fair value is what the company's own numbers justify (€9.27). For Farminveste, S.G.P.S., S.A. the two are €4.77 per share apart. That gap is exactly why we show both numbers side by side.
How much is Farminveste, S.G.P.S., S.A. worth?
The market values Farminveste, S.G.P.S., S.A. at about €105M (market capitalisation, as of Sep 23, 2026). Per share that is €4.50; our models calculate a fair value of €9.27 per share.
What do the bullish and bearish scenarios say about MLFMV?
Our models span a range for Farminveste, S.G.P.S., S.A.: cautious scenario €5.48, base €9.27, optimistic €12.05 per share (as of Sep 23, 2026, price €4.50). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Farminveste, S.G.P.S., S.A. (MLFMV)?
Balance-sheet figures for Farminveste, S.G.P.S., S.A. (as of Sep 23, 2026): return on equity 10.2%, debt of 0.79 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is MLFMV from its 52-week high?
Farminveste, S.G.P.S., S.A. trades at €4.50, about 19% below its 52-week high of €5.55 and 50% above the low of €3.00 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €9.27 is for.
Which stocks are comparable to Farminveste, S.G.P.S., S.A.?
From the same area (Healthcare) we also value McKesson Corporation, Cencora, Inc, Cardinal Health, Inc, Henry Schein, Inc, 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 Farminveste, S.G.P.S., S.A. stock attractive at the current price?
The data as of Sep 23, 2026: price €4.50, calculated fair value €9.27 (+106%), Quality Score 50/100, from 24 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 MLFMV calculated?
We run Farminveste, S.G.P.S., S.A. through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €9.27, 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 14.0 % above its aggregate fair value. Farminveste, S.G.P.S., S.A. currently trades 106 % 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 Farminveste, S.G.P.S., S.A. (MLFMV)?
The closing price on Sep 24, 2026 was €4.50. Our model-based fair value is €9.27, about +106% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Farminveste, S.G.P.S., S.A. right now?
The price is below even our cautious bear case (€5.48). The market is more pessimistic than our downside scenario. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (€5.48 to €12.05) leaves room in how you read the outcome.
Key figures of Farminveste, S.G.P.S., S.A.
How large is the market capitalisation of Farminveste, S.G.P.S., S.A. (MLFMV)?
The market capitalisation of Farminveste, S.G.P.S., S.A. is €105M. 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 Farminveste, S.G.P.S., S.A. (MLFMV)?
The price-to-sales ratio of Farminveste, S.G.P.S., S.A. is 0.11 (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 Farminveste, S.G.P.S., S.A. (MLFMV)?
Earnings per share at Farminveste, S.G.P.S., S.A. are €−0.7500. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Farminveste, S.G.P.S., S.A. (MLFMV)?
The dividend yield of Farminveste, S.G.P.S., S.A. is 4.1%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Farminveste, S.G.P.S., S.A. (MLFMV)?
The net margin of Farminveste, S.G.P.S., S.A. is 1.3% (fiscal year 2024). 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 Farminveste, S.G.P.S., S.A. (MLFMV)?
The return on equity (ROE) of Farminveste, S.G.P.S., S.A. is 10.2% (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 Farminveste, S.G.P.S., S.A. (MLFMV)?
On an EBIT basis the return on assets of Farminveste, S.G.P.S., S.A. is 3.9% (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 Farminveste, S.G.P.S., S.A. (MLFMV)?
The operating margin of Farminveste, S.G.P.S., S.A. is 4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How much net debt does Farminveste, S.G.P.S., S.A. (MLFMV) carry?
The net debt of Farminveste, S.G.P.S., S.A. is €224M (fiscal year 2024, ≈ 21.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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