Substrate Artificial Inteligence, S.A (SAI) Fair Value & Analysis
Technology · ES · Market cap €27.1M
Fair value as of: Jul 16, 2026
From 6 valuation models · updated 26 days ago
Share price +15.4% over the past month.
Below-average quality, screening 78% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (17/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (€0.0822). The market is more pessimistic than our downside scenario.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Price vs Fair Value (4 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.
How to read this chart
51‑month range €0.0234 – €4.10 · fair‑value band €0.0822 – €0.1448 · the €0.0668 price screens below the €0.1190 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.
Analysis
Substrate Artificial Inteligence, S.A (SAI) currently trades at €0.0668, while our model-based Fair Value estimate is €0.1190, implying the stock looks roughly 78.1% undervalued today. The Quality Score stands at 17/100 (below-average quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.
Over the trailing twelve months, Substrate Artificial Inteligence, S.A generated revenue of €19.6M at a net margin of 38.6%. Revenue grew 36.2% year over year. It earns a return on equity of 19.5%. Net debt stands at €4.0M. Fundamentals as of Jul 16, 2026
Our scenario range runs from €0.0822 (bear case) to €0.1448 (bull case); at €0.0668, the current price sits below 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 48% below its 52-week high and 96% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at 78%, SAI 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.
All 6 models by family
Widest divergence: Multiples (€0.1600) versus Earnings-Based (€0.0600). Highest evidence: ROIC Compounder (72).
Notify me when SAI reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 18 · Market factors (momentum, volatility) 43
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
Substrate Artificial Inteligence, S.A., together with its subsidiaries, engages in the creation and development of artificial intelligence systems in Spain, the United Kingdom, the United States, and Latin America.
Full company description
Substrate Artificial Inteligence, S.A., together with its subsidiaries, engages in the creation and development of artificial intelligence systems in Spain, the United Kingdom, the United States, and Latin America. The company offers compute and cloud; storage and data fabric; networking; security and governance; AI platforms and agents; and developer access. Its products are used in AI and technology, gaming and simulation, healthcare, finance, telecommunications, public sector, manufacturing, smart cities, education and research, and energy and sustainability industries. The company was formerly known as Substrate AI S.A. and changed its name to Substrate Artificial Inteligence, S.A. in July 2021. Substrate Artificial Inteligence, S.A. was incorporated in 2010 and is based in Valencia, Spain.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Substrate Artificial Inteligence, S.A reported revenue of €18.0M in FY2025 versus €1.6M in FY2021, a compound +83.2%/yr. Reported net income was −€7.4M in FY2025.
Watch SAI: get an alert when its fair value changes →
Peer Group
Software - Infrastructure · 370 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.
Valuation Multiples vs Software - Infrastructure median · lower = cheaper
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.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $384.00 | $274.17 | -29% |
| Oracle Corporation ORAC | C$9.08 | C$2.94 | -68% |
| Fortinet, Inc FTNT | $160.78 | $44.96 | -72% |
| Synopsys, Inc 1SNPS | €354.50 | €93.61 | -74% |
| Block, Inc XYZ | A$114.53 | A$70.69 | -38% |
| CoreWeave, Inc CRWV | $79.94 | $44.89 | -44% |
| Range Intelligent Computing Technology Group 300442 | ¥71.60 | ¥34.00 | -53% |
| Oracle Financial Services Software Limited OFSS | ₹11,651 | ₹5,821 | -50% |
| 360 Security Technology Inc 601360 | ¥9.64 | ¥5.05 | -48% |
| One97 Communications Limited PAYTM | ₹1,342 | ₹181.50 | -86% |
Compare Substrate Artificial Inteligence, S.A with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Technology stocks →
Frequently asked questions
Is Substrate Artificial Inteligence, S.A (SAI) overvalued or undervalued?
What is the fair value of SAI?
What is the quality score of SAI?
What is the revenue of Substrate Artificial Inteligence, S.A (SAI)?
What is the net profit margin of SAI?
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.
Track Substrate Artificial Inteligence, S.A and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.