UltraGreen.ai Limited (ULG) Fair Value & Analysis
Healthcare · SG · Market cap $1.4B
Fair value as of: Aug 9, 2026
From 26 valuation models · updated yesterday
Fair value updated Aug 9, 2026, revised from $1.05 to $0.9600 (−8.6%) since Jul 4, 2026. Share price −7.1% over the past month.
A solid business, but screening 19% overvalued on our models.
What matters now
- A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- A fairly wide model range ($0.7200 to $1.60) leaves room in how you read the outcome.
Price vs Fair Value (8 months)
White line = price, green steps = our fair value per fiscal year. As of Aug 9, 2026.
How to read this chart
8‑month range $1.17 – $1.86 · fair‑value band $0.7200 – $1.60 · the $1.18 price screens above the $0.9600 fair value. As of Aug 9, 2026.
Analysis
UltraGreen.ai Limited (ULG) currently trades at $1.18, while our model-based Fair Value estimate is $0.9600, implying the stock looks roughly 18.6% overvalued today. The Quality Score stands at 72/100 (solid 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: high).
Over the trailing twelve months, UltraGreen.ai Limited generated revenue of $138M at a net margin of 54.8%. Revenue grew 20.3% year over year. It earns a return on equity of 35.9%. Net debt stands at $9.3M. Fundamentals as of Aug 9, 2026
Our scenario range runs from $0.7200 (bear case) to $1.60 (bull case); at $1.18, 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 about 37% below its 52-week high, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -53% fair-value upside, at -19%, ULG 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 26 models by family
Widest divergence: Growth Earnings ($3.16) versus Asset-Based ($0.1900). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 70 · Market factors (momentum, volatility) 18
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
UltraGreen.ai Limited manufactures and sells Indocyanine Green (ICG) pharmaceutical products in the United States and internationally. It provides diagnostic imaging analytics and software solutions.
Full company description
UltraGreen.ai Limited manufactures and sells Indocyanine Green (ICG) pharmaceutical products in the United States and internationally. It provides diagnostic imaging analytics and software solutions. The company also develops software for real-time quantification of blood perfusion during surgery, including PerfusionWorks quantification software for tissue perfusion, lymphatic mapping, and margin assessment. In addition, it offers products, such as ICG, the IC-Flow Imaging System and the UltraGreen Data Platform and other technologies related to fluorescence guided surgery. Further, the company sells ICG vials and related pharmaceutical products; and engages in software development activities. It serves healthcare providers, hospitals, and medical technology companies. The company was formerly known as UltraGreen.ai Private Limited and changed its name to UltraGreen.ai Limited. UltraGreen.ai Limited was incorporated in 2024 and is based in Singapore. UltraGreen.ai Limited operates as a subsidiary of Renew Group Private Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2025 · reported fiscal years
UltraGreen.ai Limited reported revenue of $138M in FY2025 versus $49.2M in FY2022, a compound +41.0%/yr. Reported net income was $75.6M in FY2025, compounding +47.6%/yr from FY2022.
ULG screens 19% overvalued. Compare with Veeva Systems Inc →
Peer Group
Health Information Services · 126 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 Health Information Services 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.
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 Health Information Services stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Veeva Systems Inc VEEV | $190.12 | $95.12 | -50% |
| Pro Medicus Limited PME | A$194.84 | A$23.74 | -88% |
| BrightSpring Health Services, Inc BTSG | $68.16 | $21.31 | -69% |
| HealthEquity, Inc HQY | $97.67 | $56.63 | -42% |
| Hinge Health, Inc HNGE | $88.80 | $24.03 | -73% |
| 10x Genomics, Inc TXG | $45.75 | $17.18 | -62% |
| Waystar Holding WAY | $22.69 | $12.86 | -43% |
| Doximity, Inc DOCS | $22.21 | $17.18 | -23% |
| Privia Health Group PRVA | $28.10 | $5.30 | -81% |
| Inventurus Knowledge Solutions Limited IKS | ₹1,846 | ₹860.28 | -53% |
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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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