Aelis Farma S.A. (AELIS.PA)

Aelis Farma S.A. (AELIS.PA) — VMCI valuation read

Headline read on AELIS.PA: VMCI of 36/100 versus a Healthcare sector median of 50. The 14-point below-median position is what makes Aelis Farma S.A. a relative-value laggard in the mid-cap cohort, before any pillar-level review.

Form 4 filings on AELIS.PA: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on AELIS.PA: value (AELIS.PA trades at 19.0x earnings, 6% above the Healthcare median of 18.0x), quality (ROIC of 15.0% sits 5.0pp above the Healthcare median (10.0%)), and risk (net debt to EBITDA of 0.3x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Healthcare 12.0x baseline.

AELIS.PA rose 2.7% over the trailing 7 days, with a -18.5% read on a 30-day basis.