EN DE
Watch Nyxoah SA for free: we tell you when fair value or trend changes.
Data-driven stock valuation

Nyxoah SA (NYXH) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Nyxoah SA stock €0.77, price €0.78, that is 2.2% below the price, quality 28 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

  1. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Healthcare BE · ISIN BE0974358906

NS Nyxoah SA logo Thin data Nov 10, 2026

Nyxoah SA

NYXH · BR
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Low debt
Fair value €0.7660 · Fairly valued
Mixed Growth (revenue 5y +170.6 %/yr in EUR)
Quality 28/100
Negative free cash flow
Trails peers (2/7)
Narrow moat 9/100
Thin data
Estimate
Watch Nyxoah SA for free: we tell you when fair value or trend changes. Watch for free

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

€25.75 €0.7320 Fair Value €0.7660 Sep 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range €0.7320 – €25.75 · fair‑value band €0.5745 – €0.9575 · the €0.7830 price screens above the €0.7660 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

Follow Nyxoah in your weekly email

Every Wednesday you see whether Nyxoah is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

Nyxoah SA, a medical technology company, focuses on the development and commercialization of solutions to treat obstructive sleep apnea. Its lead solution is the Genio system, a hypoglossal neurostimulations therapy for obstructive sleep apnea.

Show moreShow less

The company was incorporated in 2009 and is headquartered in Mont-Saint-Guibert, Belgium.

Stock analysis

Nyxoah SA (NYXH) currently trades at €0.7830, while our estimate is €0.7660, so the stock looks roughly fairly valued today (gap 2.2%).

Show more

Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: €0.5745 (bear) to €0.9575 (bull), the price of €0.7830 sits inside 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 28/100 (below-average quality), in the Healthcare sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Nyxoah SA reported revenue of €10.0M in FY2025 versus €852K in FY2021, a compound +85.2%/yr. Reported net income was −€90.1M in FY2025.

Key figures

Market cap €102M Micro · P/S ratio 4.70 · EPS (TTM) €−2.19 · Return on equity −123% · Return on assets (EBIT) −36.2% (5-year average) · Operating margin −268% · Revenue (TTM) €21.7M · Revenue growth (YoY) +473%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 9 out of 100 (medium confidence).

What moves the price

The share trades about 84% 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 8% fair-value upside, at −2%, NYXH screens richer than that median.

Fair Value

Bear €0.5745 Fair Value €0.7660 Bull €0.9575
Price €0.7830 · Downside -2.2%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 28/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 2
How much profit the company makes from its sales and capital
Quality Growth 61
Are margins and returns getting better?
Cashflow 6
Do the profits arrive as real cash?
Financial strength 51
Debt, balance sheet and risk of trouble
Investment 67
Does it invest with discipline instead of growing at any price?
Low Volatility 31
How calm the share price moves, does not count
Price momentum 0
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 1
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

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. 26/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+121.6%
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.
+48.1%
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.
+170.6%
Start year 2020 (pandemic)
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.
−16,266.7% (2020) → −827.8% (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

Watch NYXH, get fair value alerts →

Compare Nyxoah SA with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

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 · 402 stocks

Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 28 · Bottom 25%
Fair Value upside −2.2% · Above median
Profitability
Return on assets −76.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 472.8% · Top 25%
Balance sheet
Debt / equity 0.33× · Above median

Valuation Multiplesvs Medical Devices median · lower = cheaper

P/B 2.07× · 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.
P/S (12 months) 4.70× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)30 · sector 17
FUTURE (revenue growth)100 · sector 44
PAST (return on equity)0 · sector 0
HEALTH (low debt)84 · sector 97
DIVIDEND (yield)0 · sector 34

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 Compare
Shenzhen Mindray Bio-Medical Electronics Co 300760 ¥178.92 ¥202.57 +13% vs NYXH
DexCom, Inc DXCM $79.92 $89.18 +12% vs NYXH
Stryker Corporation SYK $324.29 $358.30 +10% vs NYXH
STERIS plc STE $257.12 $279.53 +9% vs NYXH
Boston Scientific Corporation BSX $44.70 $48.42 +8% vs NYXH
GE HealthCare Technologies Inc GEHC $83.65 $69.92 −16% vs NYXH
Edwards Lifesciences Corporation EW $104.01 $81.94 −21% vs NYXH
Abbott Laboratories, ABT $110.46 $75.28 −32% vs NYXH
Medtronic plc MDT $101.59 $65.61 −35% vs NYXH
Koninklijke Philips N.V PHIA €27.06 €15.23 −44% vs NYXH

Explore undervalued stocks

More undervalued Healthcare stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend StocksUndervalued 52-Week Low StocksStocks for 2027: Large Companies Below Fair Value

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Free calculator Peter Lynch Fair Value Formula &…Free calculator
Run the numbers yourself: free valuation calculators
DCF CalculatorP/E Ratio CalculatorPEG Ratio CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorIntrinsic ValueIntrinsic vs Extrinsic ValueP/E Ratio by Sector
For bloggers & editors: embed code + live data

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.

Nyxoah SA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Nyxoah SA Fair Value". https://www.fairvalue-calculator.com/stock/NYXH

Frequently asked questions

Is Nyxoah SA (NYXH) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is €0.7660 versus a price of €0.7830, about 2% lower (fairly valued).
What is the fair value of NYXH?
Our estimate for Nyxoah SA is €0.7660 (as of Nov 10, 2026), built from audited fundamentals. The current price: €0.7830.
What is the quality score of NYXH?
Nyxoah SA has a Quality Score of 28/100. 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 Nyxoah SA (NYXH)?
Our calculated price target is the estimate of €0.7660 (as of Nov 10, 2026). Cautious scenario €0.5745, optimistic scenario €0.9575. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Nyxoah SA stock forecast for 2026?
Our estimate puts fair value at €0.7660, about 2% lower versus a price of €0.7830 (fairly valued). Cautious scenario €0.5745, optimistic scenario €0.9575. The calculation is refreshed regularly with new filings.
What is the revenue of Nyxoah SA (NYXH)?
Nyxoah SA reported trailing-twelve-month revenue of about €21.7M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Nyxoah SA (NYXH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Nyxoah SA it is €0.7660 per share (as of Nov 10, 2026), against a price of €0.7830.
Is Nyxoah SA stock overvalued or undervalued in 2026?
As of Nov 10, 2026, NYXH trades above its calculated fair value: price €0.7830, fair value €0.7660, a gap of about −2% (fairly valued). 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 NYXH?
No. The price is what the market pays today (€0.7830); the fair value is what the company's own numbers justify (€0.7660). For Nyxoah SA the two are €0.0170 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nyxoah SA worth?
The market values Nyxoah SA at about €102M (market capitalisation, as of Nov 10, 2026). Per share that is €0.7830; our models calculate a fair value of €0.7660 per share.
What do the bullish and bearish scenarios say about NYXH?
Our models span a range for Nyxoah SA: cautious scenario €0.5745, base €0.7660, optimistic €0.9575 per share (as of Nov 10, 2026, price €0.7830). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Nyxoah SA (NYXH)?
Balance-sheet figures for Nyxoah SA (as of Nov 10, 2026): return on equity −122.7%, debt of 0.33 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is NYXH from its 52-week high?
Nyxoah SA trades at €0.7830, about 84% below its 52-week high of €5.00 and 7% above the low of €0.7320 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of €0.7660 is for.
Which stocks are comparable to Nyxoah SA?
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 Nyxoah SA stock attractive at the current price?
The data as of Nov 10, 2026: price €0.7830, calculated fair value €0.7660 (−2%), Quality Score 28/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Nyxoah SA 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 Nyxoah SA (NYXH)?
The closing price on Nov 10, 2026 was €0.7830. Our estimate is €0.7660, about 2% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nyxoah SA right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Nyxoah SA

How large is the market capitalisation of Nyxoah SA (NYXH)?
The market capitalisation of Nyxoah SA is €102M. 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 Nyxoah SA (NYXH)?
The price-to-sales ratio of Nyxoah SA is 4.70 (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 Nyxoah SA (NYXH)?
Earnings per share at Nyxoah SA are €−2.19. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Nyxoah SA (NYXH)?
The return on equity (ROE) of Nyxoah SA is −123% (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 Nyxoah SA (NYXH)?
On an EBIT basis the return on assets of Nyxoah SA is −36.2% (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 Nyxoah SA (NYXH)?
The operating margin of Nyxoah SA is −268% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nyxoah SA (NYXH)?
Revenue at Nyxoah SA is growing +473% versus a year earlier (3y avg +48.1%). 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 Nyxoah SA (NYXH) generate?
The free cash flow of Nyxoah SA is −€72.7M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
Free · no account needed

Watch Nyxoah SA in the live analysis

One click puts Nyxoah SA on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.