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Molecure S.A. (MOC) Fair Value & Analysis

Healthcare · PL · Market cap 146M PLN

MS Molecure S.A. MOC · WAR
Price6.14 PLN
Fair Value1.65 PLN
Upside-73.1%
Quality39/100
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Risks

!Trades 272% ABOVE our fair value of 1.65 PLN
!Mixed Growth (revenue 5y +301.2 %/yr)
!negative free cash flow
!Trails peers (3/8)
Mixed Growth (revenue 5y +301.2 %/yr)
negative free cash flow
Trails peers (3/8)
Narrow moat 12/100
Evidence: Low Range 1.09 PLN – 2.06 PLN Share as image

Fair value as of: Aug 13, 2026

From 1 valuation models · updated 13 days ago

Share price +1.7% over the past month.

Below-average quality, and trading another 272% above our fair value.

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69 individual criteria per stock, every one traceable See the method →

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What matters now

  • The price sits above even our optimistic bull case (2.06 PLN). The favourable scenario is already priced in.
  • Weak quality (39/100) 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 (1.09 PLN to 2.06 PLN) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

51.10 PLN 5.11 PLN Fair Value 1.65 PLN May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 5.11 PLN – 51.10 PLN · fair‑value band 1.09 PLN – 2.06 PLN · the 6.14 PLN price screens above the 1.65 PLN fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Molecure S.A. (MOC) currently trades at 6.14 PLN, while our model-based Fair Value estimate is 1.65 PLN, implying the stock looks roughly 73.1% overvalued today. The Quality Score stands at 39/100 (below-average 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: low).

Trailing-twelve-month revenue stands at 6.5M PLN. Revenue grew 29.0% year over year. It earns a return on equity of -16.3%. The balance sheet holds a net cash position of 11.0M PLN. Fundamentals as of Aug 13, 2026

Our scenario range runs from 1.09 PLN (bear case) to 2.06 PLN (bull case); at 6.14 PLN, 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 share trades about 32% below its 52-week high and 23% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -60% fair-value upside, at -73%, MOC screens richer 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
NCAV (Graham) 2.09 PLN 2.80 PLN 4.18 PLN 50
All 1 models by family
Asset-Based
NCAV (Graham) 2.09 PLN 2.80 PLN 4.18 PLN 50

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Key figures & financial health

P/S ratio 19.0 TTM
Net margin -241% TTM
Return on equity -16.3% TTM
Return on assets -17.2% TTM
Operating margin -61.3% TTM
EPS (TTM) -0.9900 PLN
More key figures
Growth
Revenue (TTM) 6.5M PLN TTM
Revenue growth (YoY) +29.0% 3y avg +1,840%
Balance sheet & cash flow
Free cash flow −80.8M PLN FY2024
Net cash 11.0M PLN FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 39/100

Of which business quality 42 · Market factors (momentum, volatility) 29

Profitability 0
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 29
Earnings quality: real cash, not paper profit
Fin. Strength 88
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 42
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 19
Distance to the 52-week high (market factor)
Net Issuance 0
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Molecure S.A., a biotechnology company, engages in discovering, developing, and commercializing therapeutics for neoplastic and inflammatory diseases in Poland.

Full company description

Molecure S.A., a biotechnology company, engages in discovering, developing, and commercializing therapeutics for neoplastic and inflammatory diseases in Poland. The company is involved in the development of OATD-01, a chitotriosidase/AMCASE inhibitor that has completed Phase I clinical trial for the treatment of sarcoidosis, as well as in preclinical stage to treat idiopathic pulmonary fibrosis and NASH. It also develops OATD-02, an arginase 1 and arginase 2, which is in Phase I clinical trial for the treatment of cancer; USP7, USP21, and YKL-40 for the treatment of cancer; and Deubiquitinase program. The company was formerly known as OncoArendi Therapeutics S.A. and changed its name to Molecure S.A. in March 2022. Molecure S.A. was founded in 2012 and is headquartered in Warsaw, Poland.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Molecure S.A. reported revenue of 2.9M PLN in FY2024 versus 123M PLN in FY2020, a compound −60.7%/yr. Reported net income was −31.3M PLN in FY2024.

Growth Quality 30/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
2.9M PLN
Avg. revenue 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.
+301.2%
Avg. revenue growth/yr (9Y) 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.
+101.2%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2024 is a loss year, no rate is defined from a loss
not computed
Revenue −60.7%/yr
FY20 123M PLN
FY21 400 PLN
FY22 7.5M PLN
FY23 100 PLN
FY24 2.9M PLN
Net income
FY20 68.0M PLN
FY21 −13.6M PLN
FY22 −13.5M PLN
FY23 −28.4M PLN
FY24 −31.3M PLN

MOC screens 73% overvalued. Compare with Vertex Pharmaceuticals Incorporated →

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Cite: Fair Value Calculator (2026). "Molecure S.A. Fair Value". https://www.fairvalue-calculator.com/stock/MOC

Peer Group

Biotechnology · 630 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 42 · Below median
Fair Value upside −73% · Bottom 25%
Return on assets -17% · Below median
Operating margin (TTM) -61% · Bottom 25%
Revenue growth 29% · Top 25%

Valuation Multiples vs Biotechnology median · lower = cheaper

P/B 0.38× · Cheaper than 75% of peers
P/S (TTM) 6.05× · Pricier 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE100 · sector 0
PAST0 · sector 0
HEALTH0 · sector 98
DIVIDEND0 · sector 26

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.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Vertex Pharmaceuticals Incorporated VRTX $525.73 $278.78 -47%
Regeneron Pharmaceuticals, Inc REGN $797.99 $594.40 -26%
argenx SE ARGX €877.60 €292.84 -67%
Samsung Biologics Co 207940 1,549,000 KRW 1,055,793 KRW -32%
Alnylam Pharmaceuticals, Inc ALNY $228.61 $51.70 -77%
Royalty Pharma plc RPRX $60.58 $24.22 -60%
Celltrion, Inc 068270 202,000 KRW 74,519 KRW -63%
BeOne Medicines AG ONC $362.51 $111.35 -69%
Moderna, Inc MRNA $63.67 $12.77 -80%
BioNTech SE 22UA €80.60 €52.92 -34%

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Frequently asked questions

Is Molecure S.A. (MOC) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 1.65 PLN versus a price of 6.14 PLN, about −73% (overvalued).
What is the fair value of MOC?
Our model-based fair value for Molecure S.A. is 1.65 PLN (as of Aug 13, 2026), built from audited fundamentals. The current price: 6.14 PLN.
What is the quality score of MOC?
Molecure S.A. has a Quality Score of 39/100. 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 Molecure S.A. (MOC)?
Molecure S.A. reported trailing-twelve-month revenue of about 6.5M PLN (latest available figure, as of Aug 13, 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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