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Roche CDR (CAD Hedged) (ROG) Fair Value & Analysis

Healthcare · CA · Market cap C$466B (≈ $337B)

What is Roche CDR (CAD Hedged) really worth?

RC Roche CDR (CAD Hedged) ROG · NEO
Price from Aug 18, 2026C$28.81
Fair ValueC$26.43
Upside−8.3%
Quality74/100

A solid business, currently priced close to our fair value of C$26.43.

As of Aug 19, 2026, the fair value of Roche CDR (CAD Hedged) is C$26.43 per share against a price of C$28.81, so the fair value sits 8% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

Strengths

Solidly profitable · 14.9% net margin
Moderate debt · generates free cash flow
Wide moat 85/100

Risks

!Weak Growth (revenue 3y −1.3 %/yr)
!Mixed vs. peers (7/15)
!Weak on valuation: 22 out of 100
!Weak on future: 18 out of 100
Evidence: High Range C$17.69 – C$43.86

Fair value as of: Aug 19, 2026

From 22 valuation models · updated 17 days ago

Share price +8.9% over the past month.

What runs behind every stock

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

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (C$17.69 to C$43.86) leaves room in how you read the outcome.

Price vs Fair Value (18 months)

C$28.81 C$18.06 Fair Value C$26.43 Feb 2025 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

18‑month range C$18.06 – C$28.81 · fair‑value band C$17.69 – C$43.86 · the C$28.81 price screens above the C$26.43 fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Roche CDR (CAD Hedged) (ROG) currently trades at C$28.81, while our model-based Fair Value estimate is C$26.43, implying the stock looks roughly 9.0% fairly valued today. The Quality Score stands at 74/100 (solid quality), in the Healthcare sector. Bull case: the Multiples group reads highest at a median of C$15.80 per share, and 0 of the 22 models we run sit above the C$28.81 price. Bear case: the Earnings-Based group reads lowest at C$9.19, and 22 of the 22 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Roche CDR (CAD Hedged) generated revenue of C$63.5B at a net margin of 14.9%. Revenue grew 3.6% year over year. It earns a return on equity of 31.3%. Net debt stands at C$26.1B. Fundamentals as of Aug 19, 2026

Our scenario range runs from C$17.69 (bear case) to C$43.86 (bull case); at C$28.81, the current price sits within 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 near its 52-week high and 52% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −18% fair-value upside, at −8%, ROG screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF best evidence C$8.25 C$12.15 C$20.01 76
Growth DCF C$8.72 C$12.56 C$19.68 74
Owner Earnings C$6.31 C$9.44 C$15.74 72
All 22 models by family
DCF Models
FCF DCF best evidence C$8.25 C$12.15 C$20.01 76
Owner Earnings C$6.31 C$9.44 C$15.74 72
5Y Revenue Exit C$7.63 C$11.83 C$18.08 69
5Y EBITDA Exit C$11.04 C$17.68 C$26.65 71
5Y P/E Exit C$10.38 C$16.54 C$24.04 67
10Y Revenue Exit C$7.51 C$11.03 C$14.94 64
10Y EBITDA Exit C$9.91 C$14.87 C$20.38 66
10Y P/E Exit C$9.50 C$14.12 C$18.72 62
Earnings-Based
Graham-Dodd C$6.32 C$9.19 C$10.84 65
EPV C$8.95 C$10.81 C$12.46 71
Multiples
P/E Multiple C$15.33 C$20.44 C$25.55 63
P/S Multiple C$11.85 C$15.80 C$19.75 58
P/B Multiple C$8.23 C$10.97 C$13.72 55
EV/EBIT C$15.42 C$21.08 C$26.75 66
EV/EBITDA C$14.98 C$20.51 C$26.03 67
EV/Revenue C$8.02 C$12.14 C$16.25 53
Asset-Based
NCAV (Graham) C$1.22 C$1.63 C$2.44 54
Growth DCF
Growth DCF C$8.72 C$12.56 C$19.68 74
Rev-Margin DCF C$7.63 C$12.05 C$17.58 69
Economic Profit
Residual Income C$7.19 C$10.58 C$118.49 61
ROIC Compounder C$9.05 C$11.26 C$13.61 69
Growth Earnings
Growth-Adj P/E C$10.81 C$15.44 C$20.07 65

Widest divergence: Multiples (C$15.80) versus Asset-Based (C$1.63). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 25.1 as of Jun 18, 2026
P/S ratio 5.11 P/E × margin
EPS (TTM) C$1.02 price ÷ EPS = P/E 25.1
Net margin 20.3% FY2025
Return on equity 31.3% TTM
Return on assets (EBIT) 17.1% avg 4y
More key figures
Profitability
Operating margin 36.1% TTM
Growth
Revenue (TTM) C$63.5B TTM
Revenue growth (YoY) +3.6% 3y avg −1.3%
EPS growth (YoY) +18.3%
Balance sheet & cash flow
Free cash flow C$13.1B FY2025
Net debt C$26.1B FY2025 · ≈ 2.0 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 74/100

Of which business quality 71 · Market factors (momentum, volatility) 77

Profitability 77
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 68
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 63
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 82
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Europe, North America, Latin America, Asia, Africa, Australia, and New Zealand.

Full company description

Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Europe, North America, Latin America, Asia, Africa, Australia, and New Zealand. The company offers pharma solutions in the therapeutic areas of anaemia, blood and solid tumors, dermatology, haemophilia, inflammatory and autoimmune, neurological disorders, ophthalmology, respiratory disorders, and transplantation. It also provides in vitro tests for the diagnosis of various diseases, such as cancer, diabetes, Covid-19, hepatitis, human papillomavirus, and others; diagnostic instruments; and digital health solutions. The company was founded in 1896 and is based in Basel, Switzerland.

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

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

Roche CDR (CAD Hedged) reported revenue of CHF 63.4B in FY2025 versus CHF 65.8B in FY2022, a compound −1.3%/yr. Reported net income was CHF 12.9B in FY2025, compounding +1.2%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
C$63.4B
Latest YoY
+1.5%
Avg. revenue 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.
−1.3%
Value creation/yr (3Y) Earnings growth per share (CAGR 3 years) plus dividend yield: value created per share and year.
+2.6% · in CAD
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+2.6%
Dividend yield0.0%
Operating margin (EBIT) 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.26.6% (2022) → 29.2% (2025) · rising
Worst earnings drop33% (2024) · in CAD
Revenue −1.3%/yr
FY22 CHF 65.8B
FY23 CHF 60.4B
FY24 CHF 62.4B
FY25 CHF 63.4B
Net income +1.2%/yr
FY22 CHF 12.4B
FY23 CHF 11.5B
FY24 CHF 8.3B
FY25 CHF 12.9B

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Cite: Fair Value Calculator (2026). "Roche CDR (CAD Hedged) Fair Value". https://www.fairvalue-calculator.com/stock/ROG.NEO

Peer Group

Drug Manufacturers - General · 75 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 74 · Top 25%
Fair Value upside −8% · Above median
Return on equity (TTM) 31% · Top 25%
Return on assets 13% · Top 25%
Net margin (TTM) 15% · Above median
Operating margin (TTM) 36% · Top 25%
Revenue growth 4% · Below median
Dividend yield (TTM) 37.9% · Top 25%
Debt / equity 0.81× · Higher than 75% of peers

Valuation Multiples vs Drug Manufacturers - General median · lower = cheaper

P/E (TTM) 25.1× · Pricier than median
P/B 9.97× · Pricier than 75% of peers
P/S (TTM) 5.31× · Pricier than median
P/FCF 25.8× · Pricier than 75% of peers
EV/EBITDA 15.3× · Pricier than median
PEG 1.30× · Cheaper than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE22 · sector 0
FUTURE18 · sector 29
PAST100 · sector 49
HEALTH59 · sector 94
DIVIDEND33 · sector 42

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 Drug Manufacturers - General stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Eli Lilly and Company LLY $1,176 $389.47 −67%
Johnson & Johnson, JNJ $275.23 $169.04 −39%
AbbVie Inc ABBV $256.46 $67.72 −74%
Roche Holding RO CHF 374.60 CHF 306.54 −18%
Merck & Co MRK €131.98 €101.38 −23%
Novartis AG NOVN CHF 123.74 CHF 114.90 −7%
Novo Nordisk A/S NOVOB kr 295.50 kr 409.46 +39%
Amgen Inc AMGN $437.23 $252.02 −42%
Gilead Sciences, Inc GILD $151.00 $146.50 −3%
Pfizer Inc PFE $28.02 $24.87 −11%

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Frequently asked questions

Is Roche CDR (CAD Hedged) (ROG) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of C$26.43 versus the last price from Aug 18, 2026 of C$28.81, about −8% upside (fairly valued).
What is the fair value of ROG?
Our model-based fair value for Roche CDR (CAD Hedged) is C$26.43 (as of Aug 19, 2026), built from audited fundamentals. Last price (from Aug 18, 2026): C$28.81.
What is the quality score of ROG?
Roche CDR (CAD Hedged) has a Quality Score of 74/100. 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 Roche CDR (CAD Hedged) (ROG)?
Our model-based price target is the fair value of C$26.43 (as of Aug 19, 2026) from 22 valuation models. Cautious scenario C$17.69, optimistic scenario C$43.86. It is a calculation from audited fundamentals, not an analyst target.
What is the Roche CDR (CAD Hedged) stock forecast for 2026?
Our models put fair value at C$26.43, about −8% upside versus the last price from Aug 18, 2026 of C$28.81 (fairly valued). Cautious scenario C$17.69, optimistic scenario C$43.86. The calculation is refreshed regularly with new filings.
What is the revenue of Roche CDR (CAD Hedged) (ROG)?
Roche CDR (CAD Hedged) reported trailing-twelve-month revenue of about C$63.5B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of ROG?
The net profit margin of Roche CDR (CAD Hedged) is about 14.9%, meaning it keeps roughly 14.9% of revenue as net income. Based on the latest reported figures.
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