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Novacyt S.A (NCYT) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Novacyt S.A £0.15, price £0.37, upside -59.5%, quality 49 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 · GB · Home France · ISIN FR0010397232

NS Thin data Sep 24, 2026

Novacyt S.A

NCYT · LSE

Weakest SetupStrongly overvalued and low quality.

!Fair value £0.1500 · Strongly overvalued (−59.5%)
!Quality 49/100
!Weak Growth (revenue 5y −40.7 %/yr)
!Loss-making · -114.3% net margin (TTM)
!Low debt · negative free cash flow
!Narrow moat 10/100
!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

£4.35 £0.2660 Fair Value £0.1500 Jul 2021 Oct 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 £0.2660 – £4.35 · fair‑value band £0.1000 – £0.1800 · the £0.3700 price screens above the £0.1500 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

Novacyt S.A., together with its subsidiaries, develops, manufactures, and commercializes a range of molecular assays and instrumentation to deliver workflows and services for human health, animal health, and environmental sectors. It operates through Yourgene Health and Primer Design segments.

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Novacyt S.A., together with its subsidiaries, develops, manufactures, and commercializes a range of molecular assays and instrumentation to deliver workflows and services for human health, animal health, and environmental sectors. It operates through Yourgene Health and Primer Design segments. The Yourgene Health segment delivers molecular diagnostic and screening solutions, across reproductive health and precision medicine. The Primer Design segment designs, manufactures, and markets molecular real-time qPCR testing devices and reagents in the areas of infectious diseases. It operates in the United Kingdom, France, Europe, the United States, the Asia Pacific, the Middle East, and Africa. The company was incorporated in 2006 and is based in Le Vésinet, France.

Stock analysis

Novacyt S.A (NCYT) currently trades at £0.3700, while our model-based Fair Value estimate is £0.1500, 59.5% 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 95/100, which puts the evidence level at low.

Scenario range: £0.1000 (bear) to £0.1800 (bull), the price of £0.3700 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 49/100 (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.

Novacyt S.A reported revenue of £20.4M in FY2025 versus £95.8M in FY2021, a compound −32.1%/yr. Reported net income was −£23.3M in FY2025.

Key figures

Market cap 26.1M GBX · P/S ratio 1.25 · EPS (TTM) £−0.3300 · Net margin −114% · Return on equity −65.8% · Return on assets (EBIT) −24.0% · Operating margin −59.4% · Revenue (TTM) £20.0M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 52% below its 52-week high and 39% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at 6% fair-value upside, at −59%, NCYT screens richer than that median.

Fair Value models

Bear £0.1000 Fair Value £0.1500 Bull £0.1800
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. 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. 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) £0.1600 £0.2200 £0.3200 54
All 1 models by family
Asset-Based
NCAV (Graham) £0.1600 £0.2200 £0.3200 54

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Quality Score breakdown

Overall quality 49/100

Of which business quality 48 · Market factors (momentum, volatility) 36

Profitability 13
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 72
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 27
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 82
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. 6/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+3.9%
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.
−1.0%
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.
−40.7%
Start year 2020 (pandemic). Over 10 years: +12.0% a year
Revenue growth 14 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.
+26.5%
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.
60.4% (2020) → −64.6% (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

NCYT screens overvalued: fair value 59% below the price. 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 · 349 stocks

Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 48 · Below median
Fair Value upside −78.4% · Bottom 25%
Profitability
Return on assets −14.0% · Bottom 25%
Net margin (TTM) −114.3% · Bottom 25%
Operating margin (TTM) −59.4% · Bottom 25%
Growth and dividend
Revenue growth 6.0% · Below median

Valuation Multiplesvs Medical Devices median · lower = cheaper

P/B 1.45× · Cheaper than median
P/S (TTM) 1.69× · Cheaper than median
EV/EBITDA 5.7× · Cheapest 25%

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 $98.83 $74.79 −24%
Medtronic plc MDT $87.09 $65.61 −25%
Stryker Corporation SYK $278.77 $306.65 +10%
Boston Scientific Corporation BSX $43.65 $48.02 +10%
Edwards Lifesciences Corporation EW $85.19 $81.94 −4%
Siemens Healthineers AG SHL €37.86 €35.19 −7%
DexCom, Inc DXCM $86.68 $95.35 +10%
GE HealthCare Technologies Inc GEHC $66.63 $70.37 +6%
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥153.86 ¥169.25 +10%
Koninklijke Philips N.V PHIA €21.87 €15.23 −30%

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Novacyt S.A · Fair Value
£0.1500 −59%Fair Value
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Cite: Fair Value Calculator (2026). "Novacyt S.A Fair Value". https://www.fairvalue-calculator.com/stock/NCYT

Frequently asked questions

Is Novacyt S.A (NCYT) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of £0.1500 versus a price of £0.3700, about −59% upside (overvalued).
What is the fair value of NCYT?
Our model-based fair value for Novacyt S.A is £0.1500 (as of Sep 24, 2026), built from audited fundamentals. The current price: £0.3700.
What is the quality score of NCYT?
Novacyt S.A has a Quality Score of 49/100. 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 Novacyt S.A (NCYT)?
Our model-based price target is the fair value of £0.1500 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario £0.1000, optimistic scenario £0.1800. It is a calculation from audited fundamentals, not an analyst target.
What is the Novacyt S.A stock forecast for 2026?
Our models put fair value at £0.1500, about −59% upside versus a price of £0.3700 (overvalued). Cautious scenario £0.1000, optimistic scenario £0.1800. The calculation is refreshed regularly with new filings.
What is the revenue of Novacyt S.A (NCYT)?
Novacyt S.A reported trailing-twelve-month revenue of about £20.0M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Novacyt S.A (NCYT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Novacyt S.A it is £0.1500 per share (as of Sep 24, 2026), against a price of £0.3700. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Novacyt S.A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NCYT trades above its calculated fair value: price £0.3700, fair value £0.1500, a gap of about −59% (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 NCYT?
No. The price is what the market pays today (£0.3700); the fair value is what the company's own numbers justify (£0.1500). For Novacyt S.A the two are £0.2200 per share apart. That gap is exactly why we show both numbers side by side.
How much is Novacyt S.A worth?
The market values Novacyt S.A at about 26.1M GBX (market capitalisation, as of Sep 24, 2026). Per share that is £0.3700; our models calculate a fair value of £0.1500 per share.
What do the bullish and bearish scenarios say about NCYT?
Our models span a range for Novacyt S.A: cautious scenario £0.1000, base £0.1500, optimistic £0.1800 per share (as of Sep 24, 2026, price £0.3700). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Novacyt S.A (NCYT)?
Balance-sheet figures for Novacyt S.A (as of Sep 24, 2026): return on equity −65.8%. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is NCYT from its 52-week high?
Novacyt S.A trades at £0.3700, about 52% below its 52-week high of £0.7740 and 39% above the low of £0.2660 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of £0.1500 is for.
Which stocks are comparable to Novacyt S.A?
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 Novacyt S.A stock attractive at the current price?
The data as of Sep 24, 2026: price £0.3700, calculated fair value £0.1500 (−59%), Quality Score 49/100, 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 NCYT calculated?
We run Novacyt S.A 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 £0.1500, 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 14.5 % above its aggregate fair value. Novacyt S.A 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 Novacyt S.A (NCYT)?
The closing price on Oct 2, 2026 was £0.3700. Our model-based fair value is £0.1500, about −59% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Novacyt S.A right now?
The price sits above even our optimistic bull case (£0.1800). 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 (49/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Novacyt S.A

How large is the market capitalisation of Novacyt S.A (NCYT)?
The market capitalisation of Novacyt S.A is 26.1M GBX. 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 Novacyt S.A (NCYT)?
The price-to-sales ratio of Novacyt S.A is 1.25 (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 Novacyt S.A (NCYT)?
Earnings per share at Novacyt S.A are £−0.3300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Novacyt S.A (NCYT)?
The net margin of Novacyt S.A is −114% (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 Novacyt S.A (NCYT)?
The return on equity (ROE) of Novacyt S.A is −65.8% (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 Novacyt S.A (NCYT)?
On an EBIT basis the return on assets of Novacyt S.A is −24.0% (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 Novacyt S.A (NCYT)?
The operating margin of Novacyt S.A is −59.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Novacyt S.A (NCYT)?
Revenue at Novacyt S.A is growing +6.0% versus a year earlier (3y avg −1.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Novacyt S.A (NCYT)?
Earnings per share at Novacyt S.A are growing −97.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Novacyt S.A (NCYT) generate?
The free cash flow of Novacyt S.A is −9.0M GBX (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 Novacyt S.A (NCYT) hold?
Novacyt S.A holds more cash than debt, 8.7M GBX net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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