Nyxoah (NYXH) fair value: what the stock is really worth
We calculate from audited financials what Nyxoah is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
Valuation from Jul 17, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
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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 Jul 17, 2026.
How to read this chart
60‑month range $1.31 – $37.00 · fair‑value band $0.2380 – $0.4760 · the $1.33 price screens above the $0.3230 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.
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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. The company was incorporated in 2009 and is headquartered in Mont-Saint-Guibert, Belgium.
Stock analysis
Nyxoah (NYXH) currently trades at $1.33, while our model-based Fair Value estimate is $0.3230, implying the stock looks roughly 311.7% 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: $0.2380 (bear) to $0.4760 (bull), the price of $1.33 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 29/100 (below-average quality), in the Healthcare sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Nyxoah 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 $160M · P/S ratio 10.4 · EPS (TTM) $−2.46 · Return on equity −130% · Return on assets (EBIT) −36.2% · Operating margin −322% · Revenue (TTM) €15.3M · Revenue growth (YoY) +499%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (medium confidence).
What moves the price
The share trades about 80% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −12% fair-value upside, at −76%, NYXH screens richer than that median.
Fair Value models
Bear $0.2380Fair Value $0.3230Bull $0.4760
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.32/100
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)
’20
’21
’22
’23
’24
’25
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
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 Instruments & Supplies · 203 stocks
Beats the industry median on 1/6 measures
Overall it trails its industry peers.
Valuation
Quality Score30 · Bottom 25%
Fair Value upside−76% · Bottom 25%
Profitability
Return on assets−45% · Bottom 25%
Growth and dividend
Revenue growth499% · Top 25%
Balance sheet
Debt / equity0.33× · Highest 25%
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
P/B3.26× · 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 (TTM)10.43× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 15
FUTURE (revenue growth)100· sector 31
PAST (return on equity)0· sector 25
HEALTH (low debt)84· sector 96
DIVIDEND (yield)0· sector 33
VALUE 0: the price sits above our fair-value range.
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.
Cite: Fair Value Calculator (2026). "Nyxoah Fair Value". https://www.fairvalue-calculator.com/stock/NYXH
Frequently asked questions
Is Nyxoah (NYXH) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of $0.3230 versus a price of $1.33, about −76% upside (overvalued).
What is the fair value of NYXH?
Our model-based fair value for Nyxoah is $0.3230 (as of Jul 17, 2026), built from audited fundamentals. The current price: $1.33.
What is the quality score of NYXH?
Nyxoah has a Quality Score of 29/100. 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 (NYXH)?
Our model-based price target is the fair value of $0.3230 (as of Jul 17, 2026) from 1 valuation models. Cautious scenario $0.2380, optimistic scenario $0.4760. It is a calculation from audited fundamentals, not an analyst target.
What is the Nyxoah stock forecast for 2026?
Our models put fair value at $0.3230, about −76% upside versus a price of $1.33 (overvalued). Cautious scenario $0.2380, optimistic scenario $0.4760. The calculation is refreshed regularly with new filings.
What is the revenue of Nyxoah (NYXH)?
Nyxoah reported trailing-twelve-month revenue of about €15.3M (latest available figure, as of Jul 17, 2026).
What is the intrinsic value of Nyxoah (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 it is $0.3230 per share (as of Jul 17, 2026), against a price of $1.33. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Nyxoah stock overvalued or undervalued in 2026?
As of Jul 17, 2026, NYXH trades above its calculated fair value: price $1.33, fair value $0.3230, a gap of about −76% (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 NYXH?
No. The price is what the market pays today ($1.33); the fair value is what the company's own numbers justify ($0.3230). For Nyxoah the two are $1.01 per share apart. That gap is exactly why we show both numbers side by side.
How much is Nyxoah worth?
The market values Nyxoah at about $160M (market capitalisation, as of Jul 17, 2026). Per share that is $1.33; our models calculate a fair value of $0.3230 per share.
What do the bullish and bearish scenarios say about NYXH?
Our models span a range for Nyxoah: cautious scenario $0.2380, base $0.3230, optimistic $0.4760 per share (as of Jul 17, 2026, price $1.33). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Nyxoah (NYXH)?
Balance-sheet figures for Nyxoah (as of Jul 17, 2026): return on equity −130.0%, debt of 0.33 per unit of equity. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is NYXH from its 52-week high?
Nyxoah trades at $1.33, about 80% below its 52-week high of $6.52 and 2% above the low of $1.31 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $0.3230 is for.
Which stocks are comparable to Nyxoah?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Medline Inc, Becton, Dickinson and Company, 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 stock attractive at the current price?
The data as of Jul 17, 2026: price $1.33, calculated fair value $0.3230 (−76%), Quality Score 29/100, 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 NYXH calculated?
We run Nyxoah 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 $0.3230, 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. Nyxoah 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 (NYXH)?
The closing price on Sep 23, 2026 was $1.33. Our model-based fair value is $0.3230, about −76% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Nyxoah right now?
The price sits above even our optimistic bull case ($0.4760). The favourable scenario is already priced in. Weak quality (29/100) 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 ($0.2380 to $0.4760) leaves room in how you read the outcome.
Key figures of Nyxoah
How large is the market capitalisation of Nyxoah (NYXH)?
The market capitalisation of Nyxoah is $160M. 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 (NYXH)?
The price-to-sales ratio of Nyxoah is 10.4 (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 (NYXH)?
Earnings per share at Nyxoah are $−2.46. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Nyxoah (NYXH)?
The return on equity (ROE) of Nyxoah is −130% (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 (NYXH)?
On an EBIT basis the return on assets of Nyxoah 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 (NYXH)?
The operating margin of Nyxoah is −322% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Nyxoah (NYXH)?
Revenue at Nyxoah is growing +499% 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 (NYXH) generate?
The free cash flow of Nyxoah is −€68.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Nyxoah (NYXH) carry?
The net debt of Nyxoah is €12.1M (fiscal year 2025). 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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Thin data
Jul 17, 2026