INSTAL KRAKÓW SA (INK) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of INSTAL KRAKÓW SA stock PLN 66.04, price PLN 34.20, upside +93.1%, quality 64 out of 100. Rating: strongly undervalued. 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 9, 2026.
How to read this chart
60‑month range 22.71 PLN – 45.72 PLN · fair‑value band 46.27 PLN – 83.91 PLN · the 34.20 PLN price screens below the 66.04 PLN fair value. As of Nov 9, 2026.
Follow INSTAL KRAKÓW in your weekly email
Every Wednesday you see whether INSTAL KRAKÓW 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.
Instal Kraków S.A. engages in the construction business in Poland and internationally.
Show moreShow less
It constructs and assembles industrial, commercial, sports, public facilities, etc.; desulphurization, denitrification, ash removal, slagging, and pneumatic transport facilities; municipal and industrial sewage treatment plants; sludge dryer and thermal waste treatment plants; water demineralization and treatment stations; water intakes; ozone and water production installations, pumping stations, and chlorination plants; external networks, water mains, and internal sewage and water installations; technological and industrial installations; gas reduction stations; heat exchangers and compact heat substations, gas-oil boiler rooms, and biogas utilization systems; heat networks; compressed air, vacuum, and pneumatic transport systems; and ventilation and air-conditioning systems.
The company also constructs and executes storage tanks; silos; ventilation, air-conditioning, and dust removal systems; desulfurization and denitrification installation components; pipelines and equipment for transport media; load-bearing and supporting structures; protective barriers, platforms, and ladders; and machines and devices for various technological processes.
In addition, it produces sediment scrapers and rod mixers, and heat exchangers; sells and rents real estate projects; repairs equipment, and installation power plants and industrial plants; and installs air conditioning and ventilation, heating and sanitary, heat centers, and technical gases equipment; assembles and prefabricates steel structures; and offers welding and foundry services.
The company was founded in 1950 and is based in Kraków, Poland.
Stock analysis
INSTAL KRAKÓW SA (INK) currently trades at 34.20 PLN, while our model-based Fair Value estimate is 66.04 PLN, implying the stock looks roughly 48% undervalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of 101.75 PLN per share, and 20 of the 24 models we run sit above the 34.20 PLN price.
Bear case: the Asset-Based group reads lowest at 16.76 PLN, and 4 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 46.27 PLN (bear) to 83.91 PLN (bull), the price of 34.20 PLN sits below 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 64/100 (solid quality), in the Industrials sector.
Mixed Growth: Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
INSTAL KRAKÓW SA reported revenue of 342M PLN in FY2025 versus 380M PLN in FY2021, a compound −2.6%/yr. Reported net income was 43.6M PLN in FY2025, compounding +12.8%/yr from FY2021.
Key figures
Market cap 249M PLN (≈ $63.6M) Micro · P/E ratio 4.6 · P/S ratio 0.59 · EPS (TTM) 7.38 PLN · Net margin 12.7% · Return on equity 11.1% · Return on assets (EBIT) 9.5% (5-year average) · Operating margin 13.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −42% fair-value upside, at 93%, INK screens cheaper than that median.
Fair Value models
Bear46.27 PLNFair Value 66.04 PLNBull83.91 PLN
Price 34.20 PLN · Upside +93.1%
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 (6.33 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.55/100
Spin-off in 2024: revenue and profit before it include the divested business. Growth is measured afresh from 2024.
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.
+10.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.1%
Dividend (yield on the price)0.0%
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.10.1% vs 16.5%, slowing
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.8% → 16%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 2.7%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
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).
−3.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Poland: IMF forecast 3.1% a year to 2030, 4.6% from 2016 to 2025) that is about −6.2% a year for the price.
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.Engineering & Construction · 791 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside+93.1% · Top 25%
Profitability
Return on equity (12 months)11.1% · Above median
Return on assets8.6% · Top 25%
Net margin (12 months)13.5% · Top 25%
Operating margin (12 months)13.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−6.8% · Below median
Dividend yield (12 months)0.0% · Bottom 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (12 months)4.6× · Cheapest 25%
P/B0.63× · Cheapest 25%
P/S (12 months)0.77× · Cheaper than median
Price / free cash flow (fiscal year)8.7× · Cheaper than median
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). "INSTAL KRAKÓW SA Fair Value". https://www.fairvalue-calculator.com/stock/INK
Frequently asked questions
Is INSTAL KRAKÓW SA (INK) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 66.04 PLN versus a price of 34.20 PLN, about +93% upside (undervalued).
What is the fair value of INK?
Our model-based fair value for INSTAL KRAKÓW SA is 66.04 PLN (as of Nov 9, 2026), built from audited fundamentals. The current price: 34.20 PLN.
What is the quality score of INK?
INSTAL KRAKÓW SA has a Quality Score of 64/100. 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 INSTAL KRAKÓW SA (INK)?
Our model-based price target is the fair value of 66.04 PLN (as of Nov 9, 2026) from 24 valuation models. Cautious scenario 46.27 PLN, optimistic scenario 83.91 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the INSTAL KRAKÓW SA stock forecast for 2026?
Our models put fair value at 66.04 PLN, about +93% upside versus a price of 34.20 PLN (undervalued). Cautious scenario 46.27 PLN, optimistic scenario 83.91 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of INSTAL KRAKÓW SA (INK)?
INSTAL KRAKÓW SA reported trailing-twelve-month revenue of about 324M PLN (latest available figure, as of Nov 9, 2026).
What growth is priced into INSTAL KRAKÓW SA (INK)?
For today's price to be fair in a discounted-cash-flow model, INSTAL KRAKÓW SA would have to grow free cash flow by -3.2 % per year for five years (discount rate 12.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -3.6 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of INK use?
Our models discount INSTAL KRAKÓW SA at 12.1 %: a base by market capitalisation (micro), damped by beta 0.16, 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 INSTAL KRAKÓW SA that is -3.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.1 %) and the same formula as our fair value.
How much growth has INSTAL KRAKÓW SA (INK) delivered so far?
Over the past 5 years revenue at INSTAL KRAKÓW SA grew -3.6 % a year. The price currently implies free-cash-flow growth of -3.2 % 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 INSTAL KRAKÓW SA (INK) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into INSTAL KRAKÓW SA (-3.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of INSTAL KRAKÓW SA (INK)?
The free-cash-flow yield on the price is 11.46 %: that much free cash flow INSTAL KRAKÓW SA produces per unit of market value. When it exceeds the discount rate of our models (12.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of INSTAL KRAKÓW SA (INK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For INSTAL KRAKÓW SA it is 66.04 PLN per share (as of Nov 9, 2026), against a price of 34.20 PLN. It is the blended result of 24 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is INSTAL KRAKÓW SA stock overvalued or undervalued in 2026?
As of Nov 9, 2026, INK trades below its calculated fair value: price 34.20 PLN, fair value 66.04 PLN, a gap of about +93% (undervalued). 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 INK?
No. The price is what the market pays today (34.20 PLN); the fair value is what the company's own numbers justify (66.04 PLN). For INSTAL KRAKÓW SA the two are 31.84 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is INSTAL KRAKÓW SA worth?
The market values INSTAL KRAKÓW SA at about 249M PLN (market capitalisation, as of Nov 9, 2026). Per share that is 34.20 PLN; our models calculate a fair value of 66.04 PLN per share.
What do the bullish and bearish scenarios say about INK?
Our models span a range for INSTAL KRAKÓW SA: cautious scenario 46.27 PLN, base 66.04 PLN, optimistic 83.91 PLN per share (as of Nov 9, 2026, price 34.20 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of INK?
INSTAL KRAKÓW SA trades at a price-to-earnings ratio of 4.6 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 66.04 PLN is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 7.2. Other multiples: P/B 0.6, P/S 0.8, EV/EBITDA 3.9.
How solid is the balance sheet of INSTAL KRAKÓW SA (INK)?
Balance-sheet figures for INSTAL KRAKÓW SA (as of Nov 9, 2026): return on equity 11.1%. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is INK from its 52-week high?
INSTAL KRAKÓW SA trades at 34.20 PLN, about 17% below its 52-week high of 41.40 PLN and 1% above the low of 34.00 PLN (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 66.04 PLN is for.
Which stocks are comparable to INSTAL KRAKÓW SA?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, 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 INSTAL KRAKÓW SA stock attractive at the current price?
The data as of Nov 9, 2026: price 34.20 PLN, calculated fair value 66.04 PLN (+93%), Quality Score 64/100, 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 INK calculated?
We run INSTAL KRAKÓW SA through 24 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 66.04 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 13.3% above its aggregate fair value. INSTAL KRAKÓW SA currently trades 48% 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 INSTAL KRAKÓW SA (INK)?
The closing price on Nov 6, 2026 was 34.20 PLN. Our model-based fair value is 66.04 PLN, about +93% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with INSTAL KRAKÓW SA right now?
The price is below even our cautious bear case (46.27 PLN). The market is more pessimistic than our downside scenario. Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (46.27 PLN to 83.91 PLN) leaves room in how you read the outcome.
Where does the earnings growth of INSTAL KRAKÓW SA (INK) come from?
Earnings per share at INSTAL KRAKÓW SA grew +18.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share −2.4 %, EBIT margin +19.7 %, tax rate +1.1 %, residual (interest, one-offs) +0.7 %. 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 INSTAL KRAKÓW SA
How large is the market capitalisation of INSTAL KRAKÓW SA (INK)?
The market capitalisation of INSTAL KRAKÓW SA is 249M PLN (≈ $63.6M). 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 INSTAL KRAKÓW SA (INK)?
The price-to-sales ratio of INSTAL KRAKÓW SA is 0.59 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of INSTAL KRAKÓW SA (INK)?
Earnings per share at INSTAL KRAKÓW SA are 7.38 PLN (price ÷ EPS = P/E 4.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of INSTAL KRAKÓW SA (INK)?
The net margin of INSTAL KRAKÓW SA is 12.7% (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 INSTAL KRAKÓW SA (INK)?
The return on equity (ROE) of INSTAL KRAKÓW SA is 11.1% (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 INSTAL KRAKÓW SA (INK)?
On an EBIT basis the return on assets of INSTAL KRAKÓW SA is 9.5% (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 INSTAL KRAKÓW SA (INK)?
The operating margin of INSTAL KRAKÓW SA is 13.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at INSTAL KRAKÓW SA (INK)?
Revenue at INSTAL KRAKÓW SA is growing −6.8% versus a year earlier (3y avg −4.9%). 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 INSTAL KRAKÓW SA (INK)?
Earnings per share at INSTAL KRAKÓW SA are growing +66.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does INSTAL KRAKÓW SA (INK) hold?
INSTAL KRAKÓW SA holds more cash than debt, 8.0M PLN net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch INSTAL KRAKÓW SA in the live analysis
One click puts INSTAL KRAKÓW SA on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Some data
Nov 9, 2026