Kruk SA (KRU) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Kruk SA stock PLN 428, price PLN 331, upside +29.4%, quality 52 out of 100. Rating: undervalued. Calculated from audited financials with 13 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 8, 2026.
How to read this chart
60‑month range 191.69 PLN – 481.48 PLN · fair‑value band 321.84 PLN – 902.17 PLN · the 331.00 PLN price screens below the 428.46 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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KRUK Spólka Akcyjna, together with its subsidiaries, engages in the management of debt in Poland, Romania, Italy, the Czech Republic, Slovakia, France, Germany, and Spain. The company operates through three segments: Consumer Debts, Mortgage Debts, and Corporate Debts.
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It offers credit management services, including receivables management services to banks, loan brokers, insurers, leasing companies, landline and mobile telecommunications operators, cable TV operators, digital TV operators, and companies from the FMCG sector.
The company also purchases and manages debt portfolios, including consumer, mortgage, and corporate debts. In addition, it offers consumer unsecured, mortgage, and SME/corporate loans. Further, the company provides auxiliary services to small and medium-sized enterprises.
Additionally, the company engages in the acquisition and management of real estate properties; purchase of farmland; and IT and software development; and in law firm related activities. KRUK Spólka Akcyjna was founded in 1998 and is headquartered in Wroclaw, Poland.
Stock analysis
Kruk SA (KRU) currently trades at 331.00 PLN, while our model-based Fair Value estimate is 428.46 PLN, implying the stock looks roughly 23% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 1,774 PLN per share, and 7 of the 11 models we run sit above the 331.00 PLN price.
Bear case: the Asset-Based group reads lowest at 177.40 PLN, and 4 of the 11 models stay below the price. Data coverage for this calculation is high.
Scenario range: 321.84 PLN (bear) to 902.17 PLN (bull), the price of 331.00 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 52/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Kruk SA reported revenue of 2.5B PLN in FY2025 versus 1.2B PLN in FY2021, a compound +20.6%/yr. Reported net income was 1.1B PLN in FY2025, compounding +11.8%/yr from FY2021.
Key figures
Market cap 6.9B PLN (≈ $1.7B) Small · P/E ratio 7.1 · P/S ratio 2.59 · EPS (TTM) 46.49 PLN · Net margin 36.3% · Return on equity 17.7% · Return on assets (EBIT) 12.5% (5-year average) · Operating margin 64.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 78 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −3% fair-value upside, at 29%, KRU screens cheaper than that median.
Fair Value models
Bear321.84 PLNFair Value 428.46 PLNBull902.17 PLN
Price 331.00 PLN · Upside +29.4%
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 (39.74 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.72/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+15.3%
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.
+19.5%
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.
+17.0%
Start year 2020 (pandemic). Over 10 years: +15.3% a year
Revenue growth 20 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.
+16.4%
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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.
+31.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+31.2%
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.31.2% vs 17.1%, 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.19% → 45%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than 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).
+30.7%
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.
+13.8%
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 +26.7% a year for the price and +10.3% for the forecasts.
AI conclusion: Solid margins from debt collection activities represent the main strength, while thin evidence of any durable moat and high debt relative to equity form the key weakness.
Main risk: Weaker collections from purchased debt portfolios in markets such as Spain and Romania would cut profits and constrain the scale of future portfolio investments.
Kruk's collections from its purchased debt portfolios came in below expectations this year, especially in Spain and Romania, driving a sharp year-on-year drop in third-quarter profits. The company is deliberately holding back on new investments to avoid chasing lower returns amid stronger competition. Our models see it as undervalued, yet will this focus on investment quality safeguard margins over time or simply limit the scale of future growth?
Price, fair value, quality and upside side by side.
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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.Credit Services · 283 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside+29.4% · Above median
Profitability
Return on equity (12 months)17.7% · Top 25%
Return on assets8.3% · Top 25%
Net margin (12 months)36.3% · Above median
Operating margin (12 months)64.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)6.8% · Below median
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity1.29× · Above median
Valuation Multiplesvs Credit Services median · lower = cheaper
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). "Kruk SA Fair Value". https://www.fairvalue-calculator.com/stock/KRU
Frequently asked questions
Is Kruk SA (KRU) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 428.46 PLN versus a price of 331.00 PLN, about +29% upside (undervalued).
What is the fair value of KRU?
Our model-based fair value for Kruk SA is 428.46 PLN (as of Nov 8, 2026), built from audited fundamentals. The current price: 331.00 PLN.
What is the quality score of KRU?
Kruk SA has a Quality Score of 52/100. 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 Kruk SA (KRU)?
Our model-based price target is the fair value of 428.46 PLN (as of Nov 8, 2026) from 13 valuation models. Cautious scenario 321.84 PLN, optimistic scenario 902.17 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Kruk SA stock forecast for 2026?
Our models put fair value at 428.46 PLN, about +29% upside versus a price of 331.00 PLN (undervalued). Cautious scenario 321.84 PLN, optimistic scenario 902.17 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Kruk SA (KRU)?
Kruk SA reported trailing-twelve-month revenue of about 2.7B PLN (latest available figure, as of Nov 8, 2026).
What growth is priced into Kruk SA (KRU)?
For today's price to be fair in a discounted-cash-flow model, Kruk SA would have to grow free cash flow by +30.7 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +17.0 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of KRU use?
Our models discount Kruk SA at 10.6 %: a base by market capitalisation (small), damped by beta 0.35, 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 Kruk SA that is +30.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Kruk SA (KRU) delivered so far?
Over the past 5 years revenue at Kruk SA grew +17.0 % a year. The price currently implies free-cash-flow growth of +30.7 % 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 Kruk SA (KRU) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Kruk SA (+30.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Kruk SA (KRU)?
The free-cash-flow yield on the price is 2.91 %: that much free cash flow Kruk SA produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Kruk SA (KRU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Kruk SA it is 428.46 PLN per share (as of Nov 8, 2026), against a price of 331.00 PLN. It is the blended result of 13 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Kruk SA stock overvalued or undervalued in 2026?
As of Nov 8, 2026, KRU trades below its calculated fair value: price 331.00 PLN, fair value 428.46 PLN, a gap of about +29% (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 KRU?
No. The price is what the market pays today (331.00 PLN); the fair value is what the company's own numbers justify (428.46 PLN). For Kruk SA the two are 97.46 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Kruk SA worth?
The market values Kruk SA at about 6.9B PLN (market capitalisation, as of Nov 8, 2026). Per share that is 331.00 PLN; our models calculate a fair value of 428.46 PLN per share.
What do the bullish and bearish scenarios say about KRU?
Our models span a range for Kruk SA: cautious scenario 321.84 PLN, base 428.46 PLN, optimistic 902.17 PLN per share (as of Nov 8, 2026, price 331.00 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KRU?
Kruk SA trades at a price-to-earnings ratio of 7.1 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 428.46 PLN is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 9.5. Other multiples: P/B 1.3, P/S 2.6, EV/EBITDA 6.8.
How solid is the balance sheet of Kruk SA (KRU)?
Balance-sheet figures for Kruk SA (as of Nov 8, 2026): return on equity 17.7%, debt of 1.29 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is KRU from its 52-week high?
Kruk SA trades at 331.00 PLN, about 31% below its 52-week high of 481.48 PLN and 1% above the low of 329.00 PLN (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 428.46 PLN is for.
Which stocks are comparable to Kruk SA?
From the same area (Financial Services) we also value Visa Inc, Mastercard Incorporated, American Express Company, Capital One Financial Corporation, 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 Kruk SA stock attractive at the current price?
The data as of Nov 8, 2026: price 331.00 PLN, calculated fair value 428.46 PLN (+29%), Quality Score 52/100, from 13 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 KRU calculated?
We run Kruk SA through 13 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of 428.46 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. Kruk SA currently trades 23% 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 Kruk SA (KRU)?
The closing price on Nov 6, 2026 was 331.00 PLN. Our model-based fair value is 428.46 PLN, about +29% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Kruk SA right now?
The model range is unusually wide (321.84 PLN to 902.17 PLN). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Kruk SA (KRU) come from?
Earnings per share at Kruk SA grew +18.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +13.3 %, EBIT margin +3.7 %, tax rate +0.6 %, residual (interest, one-offs) +0.2 %. 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 Kruk SA
How large is the market capitalisation of Kruk SA (KRU)?
The market capitalisation of Kruk SA is 6.9B PLN (≈ $1.7B). 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 Kruk SA (KRU)?
The price-to-sales ratio of Kruk SA is 2.59 (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 Kruk SA (KRU)?
Earnings per share at Kruk SA are 46.49 PLN (price ÷ EPS = P/E 7.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Kruk SA (KRU)?
The net margin of Kruk SA is 36.3% (last twelve months). 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 Kruk SA (KRU)?
The return on equity (ROE) of Kruk SA is 17.7% (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 Kruk SA (KRU)?
On an EBIT basis the return on assets of Kruk SA is 12.5% (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 Kruk SA (KRU)?
The operating margin of Kruk SA is 64.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Kruk SA (KRU)?
Revenue at Kruk SA is growing +6.8% versus a year earlier (3y avg +19.5%). 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 Kruk SA (KRU)?
Earnings per share at Kruk SA are growing −31.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Kruk SA (KRU) carry?
The net debt of Kruk SA is 6.9B PLN (fiscal year 2025, ≈ 34.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 8, 2026