Altheora SA (ALORA) AI Stock Analysis

Altheora SA

(Paris:ALORA)

Select Model

Rating:44Neutral

Price Target:EUR 0.34▲(10.29% Upside)

Action:reiterated

Date:10/13/26

The score is primarily weighed down by weak financial performance quality (ongoing net losses, margin deterioration, and elevated leverage), reinforced by bearish technicals (price below key moving averages and negative MACD). Improved 2025 operating and free cash flow and strong revenue rebound provide partial support, but not enough to offset profitability and trend concerns.

Positive Factors

Revenue ReboundThe strong 2025 sales rebound shows that demand for Altheora’s composite and technical plastic offerings can recover materially. If maintained, higher volumes could improve operating absorption, support customer relationships, and provide a broader base for restoring profitability over the next several quarters.

Negative Factors

Persistent Net LossesRepeated annual net losses indicate that the business has not yet demonstrated durable earnings conversion despite the latest revenue recovery. Continued losses can constrain reinvestment, weaken equity, and make future growth more dependent on operational improvement or outside financing.

Altheora SA (ALORA) vs. iShares MSCI France ETF (EWQ)

Market Cap: EUR 4.18M
Dividend Yield: ―
Average Volume (3M): 7,431
Price to Earnings (P/E): -1.5
Beta (1Y): 0.06
Revenue Growth: -1.56%
EPS Growth: -50.65%
Country: France
Employees: 235
Sector: Industrials
Sector Strength: 63
Industry: Electrical Equipment & Parts

Altheora SA Business Overview & Revenue Model

Company Description

Altheora SA is a global enterprise dedicated to the creation and supply of sophisticated composite materials. These advanced products are engineered for deployment across a broad spectrum of industries, encompassing aerospace, rail transport, automot...

How the Company Makes Money

Altheora makes money primarily by selling composite and polymer-based materials and manufactured components to business customers. Revenue is generated through (1) the sale of composite products (e.g., panels, profiles, or other composite-based semi-...

Altheora SA Financial Statement Overview

Summary

Financials are mixed: 2025 revenue rebounded strongly (+81.5% to €34.3M) and cash flow improved (positive operating cash flow and positive free cash flow), but profitability remains weak with persistent net losses and a sharp 2025 gross margin drop (~21.9% vs. ~60.1% in 2024). Leverage is elevated (debt-to-equity ~1.49x) while equity declined, limiting flexibility.

Income Statement

34Negative

Balance Sheet

41Neutral

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	34.16M	34.30M	36.99M	41.34M	35.03M	31.97M
Gross Profit	7.62M	7.51M	22.23M	23.63M	16.92M	17.36M
EBITDA	388.00K	505.00K	1.42M	1.57M	987.00K	1.68M
Net Income	-2.83M	-2.38M	-1.74M	-2.02M	-1.69M	-228.00K
Balance Sheet
Total Assets	31.56M	30.23M	32.97M	37.84M	45.18M	35.11M
Cash, Cash Equivalents and Short-Term Investments	1.58M	1.00M	1.73M	3.76M	5.80M	3.72M
Total Debt	11.29M	11.57M	13.44M	15.37M	18.52M	9.80M
Total Liabilities	25.04M	22.45M	22.72M	25.66M	31.09M	26.25M
Stockholders Equity	6.52M	7.78M	10.25M	12.18M	14.09M	8.86M
Cash Flow
Free Cash Flow	1.56M	997.00K	-253.00K	84.00K	-3.54M	-3.77M
Operating Cash Flow	2.52M	2.09M	888.00K	1.26M	-621.00K	864.00K
Investing Cash Flow	-961.00K	-1.09M	-999.00K	-1.18M	-8.81M	-4.15M
Financing Cash Flow	-479.00K	-2.13M	-2.92M	-2.13M	11.52M	-1.60M

Altheora SA Technical Analysis

Technical Analysis SentimentNegative

Last Price0.31

Price Trends

50DMA0.38Negative

100DMA0.39Negative

200DMA0.44Negative

Market Momentum

MACD-0.01Negative

RSI39.38Neutral

STOCH44.60Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALORA, the sentiment is Negative. The current price of 0.31 is below the 20-day moving average (MA) of 0.35, below the 50-day MA of 0.38, and below the 200-day MA of 0.44, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 39.38 is Neutral, neither overbought nor oversold. The STOCH value of 44.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALORA.

Altheora SA Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

FR:ALORA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FR:ALGRO	65Neutral	EUR 9.27M	-6.27	―	―	―	―
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
FR:ALWTR	48Neutral	EUR 17.23M	-11.63	―	―	123.19%	90.82%
FR:ALORA	44Neutral	EUR 4.19M	-1.47	―	―	-1.56%	-50.65%
FR:OREGE	42Neutral	EUR 14.85M	-1.18	19.27%	―	61.30%	-6.66%
FR:ALTUV	41Neutral	EUR 10.91M	82.47	―	―	-5.75%	-78.66%

* Industrials Sector Average

Performance Comparison

FR:ALORA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
FR:ALORA	Altheora SA	0.31	-0.12	-28.01%
FR:OREGE	Orege SA	0.29	0.01	2.80%
FR:ALTUV	Bio-UV Group SA	0.80	-0.79	-49.69%
FR:ALGRO	Grolleau	3.26	0.58	21.64%
FR:GPE	Groupe Pizzorno Environnement SA	62.60	5.98	10.56%
FR:ALWTR	Osmosun	0.98	0.22	28.27%

Altheora SA Corporate Events

Altheora Publishes 2026 Half-Year Financial Report

Oct 9, 2026

Altheora SA, a specialist in composite materials and polymers listed on Euronext Growth Paris, has evolved from its historic roots in construction tooling to serve a wide range of industrial sectors. Leveraging integrated capabilities from R&D th...

Altheora pivots to profitability as debt falls and mobility orders rise

Sep 24, 2026

Altheora SA reported first-half 2026 revenue of €18.7 million, broadly stable year-on-year despite a downturn in French manufacturing, with growth in Mobility activities offsetting weakness in Construction and Leisure. EBITDA contracted to &#83...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 13, 2026

Altheora SA AI Stock Analysis