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Modulight Oyj (MODU) fair value: what the stock is really worth

As of Sep 22, 2026: fair value of Modulight Oyj €0.23, price €1.06, upside -78.2%, quality 48 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · FI

MO Thin data Sep 24, 2026

Modulight Oyj

MODU · HE

Weakest SetupStrongly overvalued and low quality.

!Fair value €0.2300 · Strongly overvalued (−78%)
!Quality 48/100
!Weak Growth (revenue 5y −6.8 %/yr)
!Loss-making · -37.8% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (2/10)
!Narrow moat 8/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

€17.40 €0.7440 Fair Value €0.2300 Sep 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range €0.7440 – €17.40 · fair‑value band €0.1500 – €0.2900 · the €1.06 price screens above the €0.2300 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Modulight Oyj designs, manufactures, and markets lasers products for medical and other diagnostic applications. The company offers laser products for clinical applications, biomedical illumination, and ophthalmology; plug and play laser systems; laser modules and components; and diode laser chips, bars, and wafers.

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Modulight Oyj designs, manufactures, and markets lasers products for medical and other diagnostic applications. The company offers laser products for clinical applications, biomedical illumination, and ophthalmology; plug and play laser systems; laser modules and components; and diode laser chips, bars, and wafers. The company was incorporated in 2000 and is based in Tampere, Finland.

Stock analysis

Modulight Oyj (MODU) currently trades at €1.06, while our model-based Fair Value estimate is €0.2300, implying the stock looks roughly 358.7% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: €0.1500 (bear) to €0.2900 (bull), the price of €1.06 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 48/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Modulight Oyj reported revenue of €7.1M in FY2025 versus €9.1M in FY2021, a compound −6.0%/yr. Reported net income was −€4.6M in FY2025.

Key figures

Market cap €50.1M · P/S ratio 4.81 · EPS (TTM) €−0.0900 · Net margin −65.1% · Return on equity −8.6% · Return on assets (EBIT) −10.8% · Operating margin −43.6% · Revenue (TTM) €10.4M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).

What moves the price

The share trades about 28% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 5% fair-value upside, at −78%, MODU screens richer than that median.

Fair Value models

Bear €0.1500 Fair Value €0.2300 Bull €0.2900
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.
Highest evidence
NCAV (Graham) €0.5300 €0.7000 €1.05 54
All 1 models by family
Asset-Based
NCAV (Graham) €0.5300 €0.7000 €1.05 54

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Quality Score breakdown

Overall quality 48/100

Of which business quality 48 · Market factors (momentum, volatility) 23

Profitability 0
Margins and returns on capital today
Quality Growth 71
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 23
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 92
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 0/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+72.6%
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.
+15.4%
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.
−6.8%
Start year 2020 (pandemic)
Revenue growth 7 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%
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.
46.8% (2020) → −65.8% (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
not computed

MODU screens 359% overvalued. Compare with Abbott Laboratories, →

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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 · 361 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 48 · Below median
Fair Value upside −78% · Bottom 25%
Profitability
Return on assets −5% · Below median
Net margin (TTM) −38% · Bottom 25%
Operating margin (TTM) −44% · Bottom 25%
Growth and dividend
Revenue growth −3% · Below median
Balance sheet
Debt / equity 0.03× · Below median

Valuation Multiplesvs Medical Devices median · lower = cheaper

P/B 1.28× · Cheaper than median
P/S (TTM) 5.47× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 3
FUTURE (revenue growth)0 · sector 30
PAST (return on equity)0 · sector 5
HEALTH (low debt)99 · sector 97
DIVIDEND (yield)0 · sector 38

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

Context: sector, industry, market

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 Medical Devices stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Abbott Laboratories, ABT $103.69 $74.79 −28%
Stryker Corporation SYK $275.09 $302.60 +10%
Medtronic plc MDT $90.77 $65.57 −28%
Boston Scientific Corporation BSX $44.92 $49.41 +10%
Edwards Lifesciences Corporation EW $88.78 $82.04 −8%
Siemens Healthineers AG SHL €37.43 €35.22 −6%
DexCom, Inc DXCM $89.53 $98.48 +10%
GE HealthCare Technologies Inc GEHC $66.27 $69.62 +5%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥156.68 ¥172.35 +10%
Koninklijke Philips N.V PHIA €21.85 €15.32 −30%

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Modulight Oyj · Fair Value
€0.2300 −359%Fair Value
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Cite: Fair Value Calculator (2026). "Modulight Oyj Fair Value". https://www.fairvalue-calculator.com/stock/MODU

Frequently asked questions

Is Modulight Oyj (MODU) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of €0.2300 versus a price of €1.06, about −78% upside (overvalued).
What is the fair value of MODU?
Our model-based fair value for Modulight Oyj is €0.2300 (as of Sep 24, 2026), built from audited fundamentals. The current price: €1.06.
What is the quality score of MODU?
Modulight Oyj has a Quality Score of 48/100. 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 Modulight Oyj (MODU)?
Our model-based price target is the fair value of €0.2300 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario €0.1500, optimistic scenario €0.2900. It is a calculation from audited fundamentals, not an analyst target.
What is the Modulight Oyj stock forecast for 2026?
Our models put fair value at €0.2300, about −78% upside versus a price of €1.06 (overvalued). Cautious scenario €0.1500, optimistic scenario €0.2900. The calculation is refreshed regularly with new filings.
What is the revenue of Modulight Oyj (MODU)?
Modulight Oyj reported trailing-twelve-month revenue of about €10.4M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Modulight Oyj (MODU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Modulight Oyj it is €0.2300 per share (as of Sep 24, 2026), against a price of €1.06. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Modulight Oyj stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MODU trades above its calculated fair value: price €1.06, fair value €0.2300, a gap of about −78% (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 MODU?
No. The price is what the market pays today (€1.06); the fair value is what the company's own numbers justify (€0.2300). For Modulight Oyj the two are €0.8250 per share apart. That gap is exactly why we show both numbers side by side.
How much is Modulight Oyj worth?
The market values Modulight Oyj at about €50.1M (market capitalisation, as of Sep 24, 2026). Per share that is €1.06; our models calculate a fair value of €0.2300 per share.
What do the bullish and bearish scenarios say about MODU?
Our models span a range for Modulight Oyj: cautious scenario €0.1500, base €0.2300, optimistic €0.2900 per share (as of Sep 24, 2026, price €1.06). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Modulight Oyj (MODU)?
Balance-sheet figures for Modulight Oyj (as of Sep 24, 2026): return on equity −8.6%, debt of 0.03 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is MODU from its 52-week high?
Modulight Oyj trades at €1.06, about 28% below its 52-week high of €1.46 and 7% above the low of €0.9900 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of €0.2300 is for.
Which stocks are comparable to Modulight Oyj?
From the same area (Healthcare) we also value Abbott Laboratories,, Stryker Corporation, Medtronic plc, 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 Modulight Oyj stock attractive at the current price?
The data as of Sep 24, 2026: price €1.06, calculated fair value €0.2300 (−78%), Quality Score 48/100, 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 MODU calculated?
We run Modulight Oyj through 1 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 €0.2300, 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 14.1 % above its aggregate fair value. Modulight Oyj 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 Modulight Oyj (MODU)?
The closing price on Sep 22, 2026 was €1.06. Our model-based fair value is €0.2300, about −78% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Modulight Oyj right now?
The price sits above even our optimistic bull case (€0.2900). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (48/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (€0.1500 to €0.2900) leaves room in how you read the outcome.

Key figures of Modulight Oyj

How large is the market capitalisation of Modulight Oyj (MODU)?
The market capitalisation of Modulight Oyj is €50.1M. 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 Modulight Oyj (MODU)?
The price-to-sales ratio of Modulight Oyj is 4.81 (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 Modulight Oyj (MODU)?
Earnings per share at Modulight Oyj are €−0.0900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Modulight Oyj (MODU)?
The net margin of Modulight Oyj is −65.1% (fiscal year 2025). 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 Modulight Oyj (MODU)?
The return on equity (ROE) of Modulight Oyj is −8.6% (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 Modulight Oyj (MODU)?
On an EBIT basis the return on assets of Modulight Oyj is −10.8% (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 Modulight Oyj (MODU)?
The operating margin of Modulight Oyj is −43.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Modulight Oyj (MODU)?
Revenue at Modulight Oyj is growing −3.1% versus a year earlier (3y avg +15.4%). 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 Modulight Oyj (MODU) generate?
The free cash flow of Modulight Oyj is −€6.1M (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 Modulight Oyj (MODU) hold?
Modulight Oyj holds more cash than debt, €6.9M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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