Verimatrix SA (VMX) Fair Value & Analysis
Technology · FR · Market cap €17.9M
Fair value as of: Jul 16, 2026
From 3 valuation models · updated 25 days ago
Fair value updated Jul 16, 2026, revised from €0.6300 to €0.6090 (−3.3%) since Jun 25, 2026. Share price +49.9% over the past month.
Below-average quality, screening 112% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (36/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (€0.4125). 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.
- A fairly wide model range (€0.4125 to €0.8055) 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 16, 2026.
How to read this chart
60‑month range €0.1465 – €2.15 · fair‑value band €0.4125 – €0.8055 · the €0.2870 price screens below the €0.6090 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
Verimatrix SA (VMX) currently trades at €0.2870, while our model-based Fair Value estimate is €0.6090, implying the stock looks roughly 112.2% undervalued today. The Quality Score stands at 36/100 (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.
Trailing-twelve-month revenue stands at €46.5M. Revenue declined 24.3% year over year. Net debt stands at €25.0M. Fundamentals as of Jul 16, 2026
Our scenario range runs from €0.4125 (bear case) to €0.8055 (bull case); at €0.2870, 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 near its 52-week high and 99% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at 112%, VMX 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 3 models by family
Widest divergence: Dividend Discount (€0.4900) versus Asset-Based (€0.2700). Highest evidence: Gordon GGM (70).
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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 36 · Market factors (momentum, volatility) 59
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
Verimatrix SA provides security solutions that protect digital content, applications, and devices in France and internationally.
Full company description
Verimatrix SA provides security solutions that protect digital content, applications, and devices in France and internationally. The company offers anti-piracy products, including multi-DRM that provides managed access and secure content distribution; watermarking that detects piracy threats and deploys countermeasures to curb abuse; counterspy, which identify content leaks at distribution level and shut down illicit sources; and streamkeeper suite, a tailored solution package aligned with various requirements. It also offers cybersecurity products, such as web protect, app shield, code shield, and key shield; and Extended Threat Defense, a cybersecurity solution. It offers security solutions for various markets comprising automotive, e-sports and gaming, financial services, healthcare, Internet of Things, live sports, media and entertainment, pay TV, and streaming media, as well as for content owners. The company has a strategic collaboration with Velocix to help streaming providers combat piracy, boost paid video subscriptions, and cut CDN costs. The company was formerly known as Inside Secure S.A. and changed its name to Verimatrix SA in July 2019. Verimatrix SA was incorporated in 1994 and is headquartered in Meyreuil, France.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Verimatrix SA reported revenue of €46.5M in FY2025 versus €88.5M in FY2021, a compound −14.9%/yr. Reported net income was −€78.6M in FY2025.
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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% |
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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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