Voxel S.A (VOX) Fair Value & Analysis
Healthcare · PL · Market cap 1.2B PLN
Fair value as of: Jul 20, 2026
From 26 valuation models · updated 21 days ago
Fair value updated Jul 20, 2026, revised from 201.85 PLN to 201.67 PLN (−0.1%) since Jul 19, 2026. Share price +16.1% over the past month.
A solid business, screening 55% undervalued on our models.
What matters now
- The model range is unusually wide (96.76 PLN to 278.54 PLN). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.
How to read this chart
60‑month range 29.56 PLN – 181.57 PLN · fair‑value band 96.76 PLN – 278.54 PLN · the 130.00 PLN price screens below the 201.67 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.
Analysis
Voxel S.A (VOX) currently trades at 130.00 PLN, while our model-based Fair Value estimate is 201.67 PLN, implying the stock looks roughly 55.1% undervalued today. The Quality Score stands at 59/100 (solid quality), in the Healthcare 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: high), always confirm before acting.
Over the trailing twelve months, Voxel S.A generated revenue of 584M PLN at a net margin of 16.9%. Revenue grew 10.6% year over year. It earns a return on equity of 25.6%. Net debt stands at 43.2M PLN. Fundamentals as of Jul 20, 2026
Our scenario range runs from 96.76 PLN (bear case) to 278.54 PLN (bull case); at 130.00 PLN, 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 28% below its 52-week high and 39% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -48% fair-value upside, at 55%, VOX 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 (230.55 PLN) versus Asset-Based (26.09 PLN). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 46
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
Voxel S.A. provides medical services in Poland. The company offers imaging diagnostics services, including reimbursed, commercial, and private patient examinations; teleradiology services; and clinical/pharmaceutical trials. It is also involved in the sale of radiopharmaceuticals, and the leasing of land. Voxel S.A.
Full company description
Voxel S.A. provides medical services in Poland. The company offers imaging diagnostics services, including reimbursed, commercial, and private patient examinations; teleradiology services; and clinical/pharmaceutical trials. It is also involved in the sale of radiopharmaceuticals, and the leasing of land. Voxel S.A. was incorporated in 2005 and is headquartered in Kraków, Poland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Voxel S.A reported revenue of 584M PLN in FY2025 versus 443M PLN in FY2021, a compound +7.2%/yr. Reported net income was 98.5M PLN in FY2025, compounding +8.7%/yr from FY2021.
of which total revenue +17.7 pp · buybacks/dilution +0.0 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Diagnostics & Research · 136 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 Diagnostics & Research 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: 45/100
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 Diagnostics & Research stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Thermo Fisher Scientific Inc TMO | $543.19 | $308.19 | -43% |
| Danaher Corporation DHR | $199.66 | $103.88 | -48% |
| WuXi AppTec Co 2359 | HK$160.70 | HK$125.20 | -22% |
| Lonza Group LONN | CHF 567.80 | CHF 259.80 | -54% |
| IDEXX Laboratories, Inc IDXX | $567.44 | $255.77 | -55% |
| Agilent Technologies, Inc A | $131.46 | $62.70 | -52% |
| Waters Corporation WAT | $368.98 | $121.96 | -67% |
| IQVIA Holdings IQV | $207.85 | $134.18 | -35% |
| Integrated Diagnostics Holdings IDHC | $0.0050 | $0.0053 | +5% |
| Illumina, Inc ILMN | $186.65 | $95.51 | -49% |
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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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