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Black Pearl SA (BPC) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Black Pearl SA stock PLN 0.14, price PLN 0.21, that is 34.0% below the price, quality 59 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Financial Services PL · ISIN PLBLKPC00014

BP Black Pearl SA logo Thin data Nov 10, 2026

Black Pearl SA

BPC · WAR
Overvalued / Monitor

Our calculation puts a fair price 34% below what the stock costs today.

Low debt
Quality 59/100
Mixed Growth (revenue 5y +79.8 %/yr in PLN)
Thin margins · 3.5% net margin (TTM)
Revenue last quarter 26% below a year ago.
Fair value 0.1387 PLN · Overvalued
Negative free cash flow
Trails peers (3/10)
Narrow moat 19/100 · thin data
Thin data
Estimate⚠ Small free float
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

0.7439 PLN 0.0630 PLN Fair Value 0.1387 PLN Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range 0.0630 PLN – 0.7439 PLN · fair‑value band 0.1040 PLN – 0.1734 PLN · the 0.2100 PLN price screens above the 0.1387 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Black Pearl Capital SA is a principal investment firm based in Warsaw, Poland.

Stock analysis

Black Pearl SA (BPC) currently trades at 0.2100 PLN, while our estimate is 0.1387 PLN, 34% below the price, so the stock looks overvalued today.

Show more

Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: 0.1040 PLN (bear) to 0.1734 PLN (bull), the price of 0.2100 PLN sits above 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 59/100 (solid quality), in the Financial Services sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Black Pearl SA reported revenue of 8.4M PLN in FY2025 versus 373K PLN in FY2021, a compound +118.2%/yr. Reported net income was 54.1K PLN in FY2025, compounding −39.2%/yr from FY2021.

Key figures

Market cap 51.5M PLN (≈ $13.2M) Micro · P/E ratio 39.2 · P/S ratio 0.25 · Net margin 0.6% · Return on equity 2.8% · Return on assets (EBIT) −25.5% (5-year average) · Operating margin −4.0% · Revenue (TTM) 6.5M PLN.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 19 out of 100 (low confidence).

What moves the price

The share trades about 36% below its 52-week high and 233% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −19% fair-value upside, at −34%, BPC screens richer than that median.

Fair Value

Bear 0.1040 PLN Fair Value 0.1387 PLN Bull 0.1734 PLN
Price 0.2100 PLN · Downside -34.0%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 59/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 20
How much profit the company makes from its sales and capital
Quality Growth 60
Are margins and returns getting better?
Cashflow 43
Do the profits arrive as real cash?
Financial strength 74
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 50
How calm the share price moves, does not count
Price momentum 100
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 70
Distance to the 52-week high, does not count
New shares 82
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 47/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+55.3%
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.
+79.8%
Start year 2020 (pandemic)
Revenue growth 9 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.
+38.4%
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.
−32.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−32.8%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2024 ⓘ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.247% → 3%

BPC screens overvalued: fair value 34% below the price. Compare with Blackstone Inc →

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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.Asset Management · 658 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 59 · Above median
Fair Value upside −34.0% · Bottom 25%
Profitability
Return on equity (12 months) 2.8% · Below median
Return on assets 0.4% · Below median
Net margin (12 months) 3.5% · Bottom 25%
Operating margin (12 months) −4.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −25.8% · Bottom 25%

Valuation Multiplesvs Asset Management median · lower = cheaper

P/E (12 months) 39.2× · Priciest 25%
P/B 1.64× · 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.
P/S (12 months) 2.02× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 37
FUTURE (revenue growth)0 · sector 36
PAST (return on equity)11 · sector 23
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)0 · sector 78

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Raymond James Financial, Inc RJF $168.11 $281.42 +67% vs BPC
Apollo Global Management, Inc APO $122.74 $197.52 +61% vs BPC
Ameriprise Financial, Inc AMP $519.96 $609.56 +17% vs BPC
Exor N.V EXO €74.30 €76.42 +3% vs BPC
State Street Corporation STT $171.62 $139.37 −19% vs BPC
Ares Management Corporation ARES $139.41 $99.35 −29% vs BPC
Northern Trust Corporation NTRS $177.89 $123.42 −31% vs BPC
Brookfield Asset Management Ltd BAM $53.49 $31.26 −42% vs BPC
Blackstone Inc BX $122.53 $52.29 −57% vs BPC
KKR & Co KKR $100.85 $27.63 −73% vs BPC

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Black Pearl SA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Black Pearl SA Fair Value". https://www.fairvalue-calculator.com/stock/BPC

Frequently asked questions

Is Black Pearl SA (BPC) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is 0.1387 PLN versus a price of 0.2100 PLN, about 34% lower (overvalued).
What is the fair value of BPC?
Our estimate for Black Pearl SA is 0.1387 PLN (as of Nov 10, 2026), built from audited fundamentals. The current price: 0.2100 PLN.
What is the quality score of BPC?
Black Pearl SA has a Quality Score of 59/100. 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 Black Pearl SA (BPC)?
Our calculated price target is the estimate of 0.1387 PLN (as of Nov 10, 2026). Cautious scenario 0.1040 PLN, optimistic scenario 0.1734 PLN. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Black Pearl SA stock forecast for 2026?
Our estimate puts fair value at 0.1387 PLN, about 34% lower versus a price of 0.2100 PLN (overvalued). Cautious scenario 0.1040 PLN, optimistic scenario 0.1734 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Black Pearl SA (BPC)?
Black Pearl SA reported trailing-twelve-month revenue of about 6.5M PLN (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Black Pearl SA (BPC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Black Pearl SA it is 0.1387 PLN per share (as of Nov 10, 2026), against a price of 0.2100 PLN.
Is Black Pearl SA stock overvalued or undervalued in 2026?
As of Nov 10, 2026, BPC trades above its calculated fair value: price 0.2100 PLN, fair value 0.1387 PLN, a gap of about −34% (overvalued). 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 BPC?
No. The price is what the market pays today (0.2100 PLN); the fair value is what the company's own numbers justify (0.1387 PLN). For Black Pearl SA the two are 0.0713 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Black Pearl SA worth?
The market values Black Pearl SA at about 51.5M PLN (market capitalisation, as of Nov 10, 2026). Per share that is 0.2100 PLN; our models calculate a fair value of 0.1387 PLN per share.
What do the bullish and bearish scenarios say about BPC?
Our models span a range for Black Pearl SA: cautious scenario 0.1040 PLN, base 0.1387 PLN, optimistic 0.1734 PLN per share (as of Nov 10, 2026, price 0.2100 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BPC?
Black Pearl SA trades at a price-to-earnings ratio of 39.2 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.1387 PLN is built from several models across several years. Other multiples: P/B 1.6, P/S 2.0.
How solid is the balance sheet of Black Pearl SA (BPC)?
Balance-sheet figures for Black Pearl SA (as of Nov 10, 2026): return on equity 2.8%. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is BPC from its 52-week high?
Black Pearl SA trades at 0.2100 PLN, about 36% below its 52-week high of 0.3300 PLN and 233% above the low of 0.0630 PLN (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 0.1387 PLN is for.
Which stocks are comparable to Black Pearl SA?
From the same area (Financial Services) we also value Blackstone Inc, KKR & Co, Brookfield Asset Management Ltd, Apollo Global Management, Inc, 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 Black Pearl SA stock attractive at the current price?
The data as of Nov 10, 2026: price 0.2100 PLN, calculated fair value 0.1387 PLN (−34%), Quality Score 59/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Black Pearl SA itself currently trades above fair value. 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 Black Pearl SA (BPC)?
The closing price on Nov 10, 2026 was 0.2100 PLN. Our estimate is 0.1387 PLN, about 34% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Black Pearl SA right now?
The price sits above even our optimistic bull case (0.1734 PLN). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Black Pearl SA

How large is the market capitalisation of Black Pearl SA (BPC)?
The market capitalisation of Black Pearl SA is 51.5M PLN (≈ $13.2M). 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 Black Pearl SA (BPC)?
The price-to-sales ratio of Black Pearl SA is 0.25 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Black Pearl SA (BPC)?
The net margin of Black Pearl SA is 0.6% (fiscal year 2025). 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 Black Pearl SA (BPC)?
The return on equity (ROE) of Black Pearl SA is 2.8% (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 Black Pearl SA (BPC)?
On an EBIT basis the return on assets of Black Pearl SA is −25.5% (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 Black Pearl SA (BPC)?
The operating margin of Black Pearl SA is −4.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Black Pearl SA (BPC)?
Revenue at Black Pearl SA is growing −25.8% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Black Pearl SA (BPC) generate?
The free cash flow of Black Pearl SA is −31.1K PLN (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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