Thor Medical ASA (TRMED) Fair Value & Analysis
Healthcare · NO · Market cap 1.5B NOK
Fair value as of: Jul 19, 2026
From 1 valuation models · updated 22 days ago
Share price +39.9% over the past month.
Below-average quality, and screening another 88% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 1.08). The favourable scenario is already priced in.
- Weak quality (22/100) 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 (kr 0.5355 to kr 1.08) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.
How to read this chart
60‑month range kr 0.6528 – kr 29.85 · fair‑value band kr 0.5355 – kr 1.08 · the kr 5.86 price screens above the kr 0.7225 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.
Analysis
Thor Medical ASA (TRMED) currently trades at kr 5.86, while our model-based Fair Value estimate is kr 0.7225, implying the stock looks roughly 87.7% overvalued today. The Quality Score stands at 22/100 (below-average quality), in the Healthcare 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: low).
Trailing-twelve-month revenue stands at 839K NOK. It earns a return on equity of -14.6%. The balance sheet holds a net cash position of 123M NOK. Fundamentals as of Jul 19, 2026
Our scenario range runs from kr 0.5355 (bear case) to kr 1.08 (bull case); at kr 5.86, 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 near its 52-week high and 157% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -43% fair-value upside, at -88%, TRMED screens richer 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 1 models by family
Notify me when TRMED reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 29 · Market factors (momentum, volatility) 79
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
Thor Medical ASA produces and supplies alpha-particle emitters for cancer therapy in Norway. It offers thorium-228, as well as radium-224 and lead-212 to radiopharmaceutical customers. The company was incorporated in 2009 and is headquartered in Oslo, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Thor Medical ASA reported revenue of kr 439K in FY2025 versus kr 0 in FY2021. Reported net income was −kr 58.0M in FY2025.
TRMED screens 88% overvalued. Compare with Vertex Pharmaceuticals Incorporated →
Peer Group
Biotechnology · 601 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 Biotechnology median · lower = cheaper
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 Biotechnology stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vertex Pharmaceuticals Incorporated VRTX | $486.03 | $278.78 | -43% |
| Regeneron Pharmaceuticals, Inc REGN | $664.45 | $594.40 | -11% |
| Samsung Biologics Co 207940 | 1,368,000 KRW | 1,091,384 KRW | -20% |
| Celltrion, Inc 068270 | 175,800 KRW | 76,325 KRW | -57% |
| WuXi Biologics (Cayman) Inc 2269 | HK$39.54 | HK$30.42 | -23% |
| Innovent Biologics, Inc 1801 | HK$86.70 | HK$19.66 | -77% |
| Sino Biopharmaceutical Limited 1177 | HK$5.26 | HK$3.36 | -36% |
| ALTEOGEN Inc 196170 | 276,500 KRW | 44,444 KRW | -84% |
| RemeGen Co 688331 | ¥134.02 | ¥26.99 | -80% |
| Biocon Limited BIOCON | ₹440.70 | ₹57.36 | -87% |
Compare Thor Medical ASA with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Healthcare stocks →
Frequently asked questions
Is Thor Medical ASA (TRMED) overvalued or undervalued?
What is the fair value of TRMED?
What is the quality score of TRMED?
What is the revenue of Thor Medical ASA (TRMED)?
What is the net profit margin of TRMED?
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 Thor Medical ASA 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.