Benefit Systems SA (BFT) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Benefit Systems SA stock PLN 6,771, price PLN 6,155, upside +10.0%, quality 51 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 432.08 PLN – 6,170 PLN · fair‑value band 3,707 PLN – 9,684 PLN · the 6,155 PLN price screens below the 6,771 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
Follow Benefit Systems in your weekly email
Every Wednesday you see whether Benefit Systems is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Benefit Systems S.A. provides non-pay employee benefits solutions in Poland, Czech Republic, Slovakia, Bulgaria, Croatia, and Turkey.
Show moreShow less
The company offers Multisport card, which provides access to sports facilities; MultiBilet and MultiTeatr for providing solutions for culture and entertainment; MyBenefit platform for distributing sport cards, as well as provides wellbeing services.
It also develops MultiLife, an online accessible product engages in promoting employee well-being in the areas of mental health, personal development, healthy eating, and physical activity. Benefit Systems S.A. was founded in 2000 and is based in Warsaw, Poland.
Stock analysis
Benefit Systems SA (BFT) currently trades at 6,155 PLN, while our model-based Fair Value estimate is 6,771 PLN, so the stock looks roughly fairly valued today (gap 9.1%).
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of 5,974 PLN per share, and 4 of the 24 models we run sit above the 6,155 PLN price.
Bear case: the Dividend Discount group reads lowest at 1,907 PLN, and 20 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: 3,707 PLN (bear) to 9,684 PLN (bull), the price of 6,155 PLN sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 51/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Benefit Systems SA reported revenue of 4.5B PLN in FY2025 versus 955M PLN in FY2021, a compound +47.5%/yr. Reported net income was 571M PLN in FY2025.
Key figures
Market cap 20.3B PLN (≈ $5.1B) Mid · P/E ratio 24.7 · P/S ratio 3.82 · EPS (TTM) 249.19 PLN · Dividend yield 1.6% · Net margin 15.5% · Return on equity 36.1% · Return on assets (EBIT) 11.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 71 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 109% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 10%, BFT screens cheaper than that median.
Fair Value models
Bear3,707 PLNFair Value 6,771 PLNBull9,684 PLN
Price 6,155 PLN · Upside +10.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (127.53 PLN per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+33.1%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+33.3%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+34.3%
Start year 2020 (pandemic). Over 10 years: +22.8% a year
Revenue growth 16 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+27.4%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+37.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+35.9%
Dividend (yield on the price)1.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.35.9% vs 25.0%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−1% → 16%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+18.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (Poland: IMF forecast 3.1% a year to 2030, 4.6% from 2016 to 2025) that is about +17.4% a year for the price and +15.0% for the forecasts.
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer Groupⓘ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.Leisure · 169 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside+10.0% · Above median
Profitability
Return on equity (12 months)36.1% · Top 25%
Return on assets8.1% · Top 25%
Net margin (12 months)15.5% · Top 25%
Operating margin (12 months)18.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)33.4% · Top 25%
Dividend yield (12 months)1.6% · Below median
Balance sheet
Debt / equity0.55× · Highest 25%
Valuation Multiplesvs Leisure median · lower = cheaper
P/E (12 months)24.7× · Pricier than median
P/B8.61× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Benefit Systems SA Fair Value". https://www.fairvalue-calculator.com/stock/BFT
Frequently asked questions
Is Benefit Systems SA (BFT) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 6,771 PLN versus a price of 6,155 PLN, about +10% upside (fairly valued).
What is the fair value of BFT?
Our model-based fair value for Benefit Systems SA is 6,771 PLN (as of Nov 7, 2026), built from audited fundamentals. The current price: 6,155 PLN.
What is the quality score of BFT?
Benefit Systems SA has a Quality Score of 51/100. 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 price target for Benefit Systems SA (BFT)?
Our model-based price target is the fair value of 6,771 PLN (as of Nov 7, 2026) from 24 valuation models. Cautious scenario 3,707 PLN, optimistic scenario 9,684 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Benefit Systems SA stock forecast for 2026?
Our models put fair value at 6,771 PLN, about +10% upside versus a price of 6,155 PLN (fairly valued). Cautious scenario 3,707 PLN, optimistic scenario 9,684 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Benefit Systems SA (BFT)?
Benefit Systems SA reported trailing-twelve-month revenue of about 5.3B PLN (latest available figure, as of Nov 7, 2026).
Does Benefit Systems SA pay a dividend?
Benefit Systems SA currently shows a dividend yield of 1.62% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Benefit Systems SA (BFT) and when is the ex-dividend date?
Benefit Systems SA pays a dividend of 100.00 PLN per share a year, a dividend yield of 1.6%. The last ex-dividend date was Sep 4, 2026. The payout ratio is 50.9% of earnings (on adjusted earnings, reported 40.1%). Free cash flow covers the dividend 1.73 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Benefit Systems SA (BFT)?
For today's price to be fair in a discounted-cash-flow model, Benefit Systems SA would have to grow free cash flow by +21.1 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +34.3 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of BFT use?
Our models discount Benefit Systems SA at 9.7 %: a base by market capitalisation (mid), damped by beta 0.68, country premium for Poland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Benefit Systems SA that is +21.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Benefit Systems SA (BFT) delivered so far?
Over the past 5 years revenue at Benefit Systems SA grew +34.3 % a year. The price currently implies free-cash-flow growth of +21.1 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Benefit Systems SA (BFT) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Benefit Systems SA (+21.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Benefit Systems SA (BFT)?
The free-cash-flow yield on the price is 2.82 %: that much free cash flow Benefit Systems SA produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Benefit Systems SA (BFT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Benefit Systems SA it is 6,771 PLN per share (as of Nov 7, 2026), against a price of 6,155 PLN. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Benefit Systems SA stock overvalued or undervalued in 2026?
As of Nov 7, 2026, BFT trades below its calculated fair value: price 6,155 PLN, fair value 6,771 PLN, a gap of about +10% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BFT?
No. The price is what the market pays today (6,155 PLN); the fair value is what the company's own numbers justify (6,771 PLN). For Benefit Systems SA the two are 615.50 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Benefit Systems SA worth?
The market values Benefit Systems SA at about 20.3B PLN (market capitalisation, as of Nov 7, 2026). Per share that is 6,155 PLN; our models calculate a fair value of 6,771 PLN per share.
What do the bullish and bearish scenarios say about BFT?
Our models span a range for Benefit Systems SA: cautious scenario 3,707 PLN, base 6,771 PLN, optimistic 9,684 PLN per share (as of Nov 7, 2026, price 6,155 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BFT?
Benefit Systems SA trades at a price-to-earnings ratio of 24.7 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 6,771 PLN is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 44.9 (reported for FY2025: 35.4). Median P/E at fiscal year-end, 6 fiscal years (2018 to 2025), reported earnings, FY2025 ex one-offs: 19.9. Other multiples: P/B 8.6, P/S 3.8, EV/EBITDA 17.3.
How solid is the balance sheet of Benefit Systems SA (BFT)?
Balance-sheet figures for Benefit Systems SA (as of Nov 7, 2026): return on equity 36.1%, debt of 0.55 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is BFT from its 52-week high?
Benefit Systems SA trades at 6,155 PLN, at its 52-week high of 6,170 PLN and 109% above the low of 2,943 PLN (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 6,771 PLN is for.
Which stocks are comparable to Benefit Systems SA?
From the same area (Consumer Cyclical) we also value Pop Mart International Group, Amer Sports, Inc, Hasbro, Inc, Life Time Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Benefit Systems SA stock attractive at the current price?
The data as of Nov 7, 2026: price 6,155 PLN, calculated fair value 6,771 PLN (+10%), Quality Score 51/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BFT calculated?
We run Benefit Systems SA through 24 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 6,771 PLN builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Benefit Systems SA currently trades 9% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Benefit Systems SA (BFT)?
The closing price on Nov 6, 2026 was 6,155 PLN. Our model-based fair value is 6,771 PLN, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Benefit Systems SA right now?
The model range is unusually wide (3,707 PLN to 9,684 PLN). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Where does the earnings growth of Benefit Systems SA (BFT) come from?
Earnings per share at Benefit Systems SA grew +24.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +19.8 %, EBIT margin +5.1 %, tax rate +0.1 %, residual (interest, one-offs) −1.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Benefit Systems SA
How large is the market capitalisation of Benefit Systems SA (BFT)?
The market capitalisation of Benefit Systems SA is 20.3B PLN (≈ $5.1B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Benefit Systems SA (BFT)?
The price-to-sales ratio of Benefit Systems SA is 3.82 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Benefit Systems SA (BFT)?
Earnings per share at Benefit Systems SA are 249.19 PLN (price ÷ EPS = P/E 24.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Benefit Systems SA (BFT)?
The dividend yield of Benefit Systems SA is 1.6% (payout 50.9%, on adjusted earnings, reported 40.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Benefit Systems SA (BFT)?
The net margin of Benefit Systems SA is 15.5% (last twelve months), excl. one-off gain FY2025 10.0%. How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Benefit Systems SA (BFT)?
The return on equity (ROE) of Benefit Systems SA is 36.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Benefit Systems SA (BFT)?
On an EBIT basis the return on assets of Benefit Systems SA is 11.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Benefit Systems SA (BFT)?
The operating margin of Benefit Systems SA is 18.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Benefit Systems SA (BFT)?
Revenue at Benefit Systems SA is growing +33.4% versus a year earlier (3y avg +33.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Benefit Systems SA (BFT)?
Earnings per share at Benefit Systems SA are growing +46.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Benefit Systems SA (BFT) carry?
The net debt of Benefit Systems SA is 795M PLN (fiscal year 2025, ≈ 1.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Benefit Systems SA in the live analysis
One click puts Benefit Systems SA on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Broad data
Nov 7, 2026