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Proactis SA (PROAC) Fair Value & Analysis

Technology · FR · Market cap €4.1M

PS Proactis SA PROAC · PA
Price€0.0380
Fair Value€0.0323
Upside-15.0%
Quality52/100
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Weak Growth
Loss-making · -93.0% net margin
Negative equity (buybacks among others) · generates free cash flow
Trails peers (4/11)
Narrow moat 14/100
Evidence: High Range €0.0301 – €0.0346 Share as image

Fair value as of: Jul 12, 2026

From 4 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from €0.0336 to €0.0323 (−3.8%) since Jun 26, 2026. Share price +11.8% over the past month.

A solid business, but screening 15% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€0.0346). The favourable scenario is already priced in.
  • Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The models converge in a tight band (€0.0301 to €0.0346), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

€0.1790 €0.0270 Fair Value €0.0323 Dec 2019 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range €0.0270 – €0.1790 · fair‑value band €0.0301 – €0.0346 · the €0.0380 price screens above the €0.0323 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

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Analysis

Proactis SA (PROAC) currently trades at €0.0380, while our model-based Fair Value estimate is €0.0323, implying the stock looks roughly 15.0% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Technology 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: high).

Over the trailing twelve months, Proactis SA generated revenue of €11.9M at a net margin of -93.0%. Revenue declined 5.2% year over year. It earns a return on equity of -3.9%. The balance sheet holds a net cash position of €1.1M. Fundamentals as of Jul 12, 2026

Our scenario range runs from €0.0301 (bear case) to €0.0346 (bull case); at €0.0380, 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 58% below its 52-week high and 62% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at -15%, PROAC screens cheaper 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
Gordon GGM €0.0700 €0.0700 €0.0800 70
DDM Multi-Stage €0.0700 €0.0800 €0.0900 61
EV/EBITDA €0.0500 €0.1500 54
All 4 models by family
DCF Models
5Y EBITDA Exit €0.0400 41
Dividend Discount
Gordon GGM €0.0700 €0.0700 €0.0800 70
DDM Multi-Stage €0.0700 €0.0800 €0.0900 61
Multiples
EV/EBITDA €0.0500 €0.1500 54

Widest divergence: Dividend Discount (€0.0700) versus Multiples (€0.0500). Highest evidence: Gordon GGM (70).

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Key figures & financial health

Revenue (TTM) €11.9M
Revenue growth (YoY) -5.2%
Net margin -93.0%
Return on equity -3.9%
Free cash flow €731K FY2025
Operating margin -11.6%
More key figures
EPS growth (YoY) +333%
Net cash €1.1M FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 52/100

Of which business quality 52 · Market factors (momentum, volatility) 27

Profitability 27
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 35
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 100
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.

About the company

Proactis SA provides cloud-based spend management solutions in France, Germany, the United Kingdom, the Unites States, and internationally. It offers source-to-pay, supplier relationship management, contract management, procure-to-pay, sourcing, and accounts payable automation software, as well as AI and marketplace.

Full company description

Proactis SA provides cloud-based spend management solutions in France, Germany, the United Kingdom, the Unites States, and internationally. It offers source-to-pay, supplier relationship management, contract management, procure-to-pay, sourcing, and accounts payable automation software, as well as AI and marketplace. The company also provides professional services; application managed service; training; support services; integration of ERP, financial, and other supply chain systems; and invoice capture managed service. It serves housing, property and facilities management, not-for-profit, financial services, transport and logistics, public services, care providers, education, and professional services sectors. The company was formerly known as Hubwoo and changed its name to Proactis SA in January 2019. Proactis SA was incorporated in 1990 and is headquartered in Paris, France. The company operates as a subsidiary of Proactis Euro Hedgeco Limited.

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

Revenue & earnings trend

FY2020 – FY2025 · reported fiscal years

Proactis SA reported revenue of €9.3M in FY2025 versus €12.4M in FY2020, a compound −5.5%/yr. Reported net income was −€1.1M in FY2025.

Growth Quality 10/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€9.3M
Latest YoY
−21.9%
Avg. growth/yr (3Y) 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.
−13.4%
Avg. 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.
−5.5%
Avg. growth/yr (16Y) 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.
−7.9%
Revenue −5.5%/yr
FY20 €12.4M
FY21 €15.0M
FY22 €14.4M
FY24 €11.9M
FY25 €9.3M
Net income
FY20 −€9.8M
FY21 −€526K
FY22 €290K
FY24 −€11.1M
FY25 −€1.1M

PROAC screens 15% overvalued. Compare with SAP SE →

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

Peer Group

Software - Application · 709 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 52 · Below median
Fair Value upside −21% · Above median
Return on assets -1% · Below median
Net margin (TTM) -93% · Bottom 25%
Operating margin (TTM) -12% · Bottom 25%
Revenue growth -5% · Bottom 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/S (TTM) 0.39× · Cheaper than 75% of peers
P/FCF 6.4× · Cheaper than median
PEG 1.37× · 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.

VALUE 5 · sector 0
FUTURE 0 · sector 38
PAST 0 · sector 13
HEALTH 100 · sector 98
DIVIDEND 0 · sector 28

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is Proactis SA (PROAC) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of €0.0323 versus a price of €0.0380, about −15% (overvalued).
What is the fair value of PROAC?
Our model-based fair value for Proactis SA is €0.0323 (as of Jul 12, 2026), built from audited fundamentals. The current price is €0.0380.
What is the quality score of PROAC?
Proactis SA has a Quality Score of 52/100. 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 Proactis SA (PROAC)?
Proactis SA reported trailing-twelve-month revenue of about €11.9M (latest available figure, as of Jul 12, 2026).
What is the net profit margin of PROAC?
The net profit margin of Proactis SA is about -93.0%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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