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Sanofi (SNY) Fair Value & Analysis

Healthcare · US · Market cap $100B

S Sanofi logo Sanofi SNY · US
Price$43.78
Fair Value$73.34
Upside+67.5%
Quality77/100
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Healthy Growth
Solidly profitable · 16.0% net margin
Low debt · generates free cash flow
Ranks above peers (10/15)
Wide moat 66/100
Evidence: High Range $53.30 – $93.00 Share as image

Fair value as of: Aug 13, 2026

From 25 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from $72.72 to $73.34 (+0.9%) since Jul 19, 2026. Share price +1.4% over the past month.

A strong business, screening 68% undervalued on our models.

What matters now

  • The rarer combination: high quality (77/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case ($53.30). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

$53.91 $31.17 Fair Value $73.34 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range $31.17 – $53.91 · fair‑value band $53.30 – $93.00 · the $43.78 price screens below the $73.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Sanofi (SNY) currently trades at $43.78, while our model-based Fair Value estimate is $73.34, implying the stock looks roughly 67.5% undervalued today. The Quality Score stands at 77/100 (high 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, Sanofi generated revenue of $47.4B at a net margin of 16.0%. Revenue grew 6.0% year over year. It earns a return on equity of 6.6%. Net debt stands at $12.7B. Fundamentals as of Aug 13, 2026

Our scenario range runs from $53.30 (bear case) to $93.00 (bull case); at $43.78, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 12% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -20% fair-value upside, at 68%, SNY 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.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF $44.48 $64.64 $92.58 80
Residual Income $27.02 $30.51 $47.10 76
Rev-Margin DCF $35.82 $55.68 $77.56 74
All 25 models by family
DCF Models
FCF DCF $43.31 $65.34 $97.44 38
Owner Earnings $53.02 $79.69 $118.56 31
5Y Revenue Exit $35.82 $55.22 $79.19 39
5Y EBITDA Exit $53.51 $87.19 $125.34 41
5Y P/E Exit $44.15 $70.28 $96.68 38
10Y Revenue Exit $37.10 $55.12 $77.69 36
10Y EBITDA Exit $49.29 $76.90 $111.82 37
10Y P/E Exit $43.41 $65.38 $90.62 35
Earnings-Based
Graham-Dodd $22.19 $57.38 $74.76 54
PEG = 1.0 $10.83 $15.47 $20.11 46
EPV $31.28 $36.95 $41.91 59
Dividend Discount
Gordon GGM $20.66 $40.91 $68.14 70
DDM Multi-Stage $20.66 $31.66 $43.51 61
Multiples
P/E Multiple $53.85 $71.81 $89.76 63
P/S Multiple $41.61 $55.49 $69.36 58
P/B Multiple $41.61 $55.49 $69.36 55
EV/EBIT $48.36 $65.40 $82.44 53
EV/EBITDA $67.67 $91.14 $114.62 54
EV/Revenue $33.73 $49.37 $65.00 43
Asset-Based
NCAV (Graham) $14.91 $19.98 $29.82 50
Growth DCF
Growth DCF $44.48 $64.64 $92.58 80
Rev-Margin DCF $35.82 $55.68 $77.56 74
Economic Profit
Residual Income $27.02 $30.51 $47.10 76
ROIC Compounder $31.57 $39.73 $49.52 72
Growth Earnings
Growth-Adj P/E $41.77 $59.67 $77.57 68

Widest divergence: DCF Models ($65.38) versus Asset-Based ($19.98). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $47.4B
Revenue growth (YoY) +6.0%
Net margin 16.0%
Return on equity 6.6%
Free cash flow $10.1B FY2025
P/E ratio 19.3
More key figures
Operating margin 20.0%
EPS (TTM) $2.27
EPS growth (YoY) -11.7%
Net debt $12.7B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 77/100

Of which business quality 73 · Market factors (momentum, volatility) 51

Profitability 46
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 82
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 96
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 31
Distance to the 52-week high (market factor)
Net Issuance 96
Buybacks instead of dilution

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

Sanofi engages in the research, development, manufacture, and marketing of therapeutic solutions. It provides immunology and inflammation, rare diseases neurology, oncology, and other vaccines.

Full company description

Sanofi engages in the research, development, manufacture, and marketing of therapeutic solutions. It provides immunology and inflammation, rare diseases neurology, oncology, and other vaccines. It also offers poliomyelitis, pertussis, and haemophilus influenzae type b (Hib) pediatric vaccines; respiratory syncytial virus protection and hexavalent combination vaccines that includes hepatitis A, typhoid, yellow fever, and rabies vaccines. It has a collaboration and license agreement with Exscientia to develop up to 15 novel small-molecule for oncology and immunology; ABL Bio, Inc. to develop ABL301 for treatment of alpha-synucleinopathies; and Innate Pharma SA for cell engager program targeting B7-H3. Further, it has a collaboration agreements with Atomwise to use ATOMNET platform and Insilico Medicine to use Pharma.AI, a medicine's AI platform; Kymera Therapeutics, Inc. to develop and commercialize protein degrader therapies targeting IRAK4 in patients with immune-inflammatory diseases; Nurix Therapeutics, Inc. to develop protein degradation therapies; Denali Therapeutics Inc. to treat systemic inflammatory diseases, such as ulcerative colitis; and Adagene Inc. for development of antibody-based therapies. Additionally, it has a collaboration with Scribe Therapeutics Inc. to develop genome editing technologies; Teva Pharmaceuticals to co-develop and co-commercialize TEV'574, for treatment of ulcerative colitis and Crohn's disease; and co-promotion service agreement with Provention Bio, Inc. for the commercialization of teplizumab. The company was formerly known as Sanofi-Aventis and changed its name to Sanofi in May 2011. Sanofi was incorporated in 1994 and is headquartered in Paris, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Sanofi reported revenue of $46.7B in FY2025 versus $39.2B in FY2021, a compound +4.5%/yr. Reported net income was $7.8B in FY2025, compounding +5.9%/yr from FY2021.

Growth Quality 73/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$46.7B
Latest YoY
+5.5%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.8%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.6%
Avg. growth/yr (26Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.7%
Revenue +4.5%/yr
FY21 $39.2B
FY22 $40.6B
FY23 $41.6B
FY24 $44.3B
FY25 $46.7B
Net income +5.9%/yr
FY21 $6.2B
FY22 $8.4B
FY23 $5.4B
FY24 $5.6B
FY25 $7.8B
Character of growth · EPS growth decomposed (2014-2025) +4.4 % p.a.
Revenue per share +3.6 pp

of which total revenue +3.0 pp · buybacks/dilution +0.5 pp

EBIT margin +0.0 pp
Tax rate +0.6 pp
Residual (interest, one-offs) +0.2 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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Cite: Fair Value Calculator (2026). "Sanofi Fair Value". https://www.fairvalue-calculator.com/stock/SNY

Peer Group

Drug Manufacturers - General · 77 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.

Quality Score 77 · Top 25%
Fair Value upside +68% · Top 25%
Return on equity (TTM) 7% · Below median
Return on assets 5% · Below median
Net margin (TTM) 16% · Above median
Operating margin (TTM) 20% · Above median
Revenue growth 6% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.20× · Higher than median

Valuation Multiples vs Drug Manufacturers - General median · lower = cheaper

P/E (TTM) 19.3× · Cheaper than median
P/B 1.40× · Cheaper than median
P/S (TTM) 2.11× · Cheaper than median
P/FCF 9.9× · Cheaper than median
EV/EBITDA 8.3× · Cheaper than 75% of peers
PEG 3.66× · Pricier than median

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.

VALUE 100 · sector 0
FUTURE 30 · sector 25
PAST 26 · sector 49
HEALTH 90 · sector 94
DIVIDEND 0 · sector 44

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Drug Manufacturers - General stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Eli Lilly and Company LLY $1,220 $389.47 -68%
Johnson & Johnson, JNJ $260.86 $169.04 -35%
AbbVie Inc ABBV $248.76 $67.72 -73%
Roche Holding 1RO €392.80 €240.14 -39%
Merck & Co MRK €115.42 €118.21 +2%
Novartis AG NVSN 2,742 MXN 1,964 MXN -28%
AstraZeneca PLC AZN $158.50 $127.32 -20%
Novo Nordisk A/S NOVOB kr 299.50 kr 409.46 +37%
GSK plc GSKN 917.00 MXN 879.08 MXN -4%
Bayer Aktiengesellschaft BAYER 17,685 HUF 14,810 HUF -16%

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Frequently asked questions

Is Sanofi (SNY) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of $73.34 versus a price of $43.78, about +68% (undervalued).
What is the fair value of SNY?
Our model-based fair value for Sanofi is $73.34 (as of Aug 13, 2026), built from audited fundamentals. The current price is $43.78.
What is the quality score of SNY?
Sanofi has a Quality Score of 77/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Sanofi (SNY)?
Sanofi reported trailing-twelve-month revenue of about $47.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of SNY?
The net profit margin of Sanofi is about 16.0%, meaning it keeps roughly 16.0% of revenue as net income. Based on the latest reported figures.

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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