Modivo S.A. (MDV) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Modivo S.A. stock PLN 14.31, price PLN 102, that is 86.0% below the price, quality 20 out of 100. Rating: strongly overvalued. Calculated from audited financials with 23 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 33.03 PLN – 244.50 PLN · fair‑value band 7.08 PLN – 20.62 PLN · the 102.30 PLN price screens above the 14.31 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.
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Modivo S.A. engages in the retail sale of footwear and other products in Poland, Central and Eastern Europe, and Western Europe. It operates through CCC, HalfPrice, eobuwie, MODIVO, and DeeZee segments.
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The company also sells clothing, handbags, shoe care accessories, homeware, accessories, cosmetics, toys, home furnishings, and health and beauty products through its offline stores and online channels.
It offers its products under the CCC, HalfPrice, eobuwie, MODIVO, and DeeZee brands, as well as proprietary, licensed, and third-party brands. The company was formerly known as CCC S.A. and change its name to Modivo S.A. in February 2026.
Modivo S.A. was incorporated in 2004 and is headquartered in Polkowice, Poland.
Stock analysis
Modivo S.A. (MDV) currently trades at 102.30 PLN, while our model-based Fair Value estimate is 14.31 PLN, 86% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 23.11 PLN per share, and 0 of the 23 models we run sit above the 102.30 PLN price.
Bear case: the Growth Earnings group reads lowest at 6.88 PLN, and 23 of the 23 models stay below the price. Data coverage for this calculation is low.
Scenario range: 7.08 PLN (bear) to 20.62 PLN (bull), the price of 102.30 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 20/100 (below-average quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Modivo S.A. reported revenue of 10.9B PLN in FY2026 versus 7.5B PLN in FY2022, a compound +9.6%/yr. Reported net income was 21.8M PLN in FY2026.
Key figures
Market cap 7.9B PLN (≈ $2.0B) Mid · P/E ex one-offs 352.8 · P/S ratio 0.68 · EPS (TTM) −4.60 PLN · Net margin −3.1% · Return on equity −24.6% · Return on assets (EBIT) 3.6% (5-year average) · Operating margin 3.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 20 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 40% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −18% fair-value upside, at −86%, MDV screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (4.59 PLN to 69.54 PLN). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear7.08 PLNFair Value 14.31 PLNBull20.62 PLN
Price 102.30 PLN · Downside -86.0%
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.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.
Best data coverage
Growth DCF7.72 PLN16.83 PLN29.53 PLN74
FCF DCF8.11 PLN16.29 PLN35.00 PLN73
EPV8.33 PLN9.95 PLN11.31 PLN73
All 23 models by family
DCF Models
FCF DCF8.11 PLN16.29 PLN35.00 PLN73
Owner Earnings23.70 PLN47.53 PLN88.13 PLN72
5Y Revenue Exit10.98 PLN24.70 PLN44.44 PLN68
5Y EBITDA Exit24.07 PLN53.78 PLN93.80 PLN71
5Y P/E Exit3.39 PLN7.84 PLN13.04 PLN67
10Y Revenue Exit9.24 PLN21.51 PLN42.48 PLN61
10Y EBITDA Exit17.96 PLN41.90 PLN83.21 PLN63
10Y P/E Exit4.98 PLN9.70 PLN16.58 PLN61
Earnings-Based
Graham-Dodd1.92 PLN11.32 PLN15.77 PLN63
Lynch FV3.21 PLN4.59 PLN5.96 PLN61
PEG = 1.03.21 PLN4.59 PLN5.96 PLN57
EPV8.33 PLN9.95 PLN11.31 PLN73
Multiples
P/E Multiple4.67 PLN6.23 PLN7.78 PLN63
P/S Multiple3.61 PLN4.81 PLN6.01 PLN57
P/B Multiple52.16 PLN69.54 PLN86.93 PLN55
EV/EBIT18.30 PLN26.19 PLN34.07 PLN64
EV/EBITDA33.15 PLN45.98 PLN58.82 PLN66
EV/Revenue10.59 PLN17.42 PLN24.26 PLN52
Asset-Based
NCAV (Graham)5.27 PLN7.98 PLN9.97 PLN54
Growth DCF
Growth DCF7.72 PLN16.83 PLN29.53 PLN74
Economic Profit
Residual Income15.44 PLN16.29 PLN17.98 PLN71
ROIC Compounder8.33 PLN9.95 PLN11.31 PLN71
Growth Earnings
Growth-Adj P/E4.81 PLN6.88 PLN8.94 PLN67
The fair value above starts from this blend and is adjusted for dilution from new shares.
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.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+6.5%
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.
+6.1%
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.
+15.9%
Start year 2021 (pandemic). Over 10 years: +16.8% 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.
+19.1%
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Profit margin (trend) ⓘ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.
−11.0% (2021) → 4.8% (2026)
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).
+57.6%
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.
+10.7%
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 +52.8% a year for the price and +7.3% for the forecasts.
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.Apparel Retail · 101 stocks
Beats the industry median on 1/12 measures
Overall it trails its industry peers.
Valuation
Quality Score20 · Bottom 25%
Fair Value upside−86.0% · Bottom 25%
Profitability
Return on assets0.2% · Below median
Net margin (12 months)−3.1% · Bottom 25%
Operating margin (12 months)3.4% · Below median
Growth and dividend
Revenue growth (quarter YoY)5.2% · Above median
Balance sheet
Debt / equity0.69× · Highest 25%
Valuation Multiplesvs Apparel Retail 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). "Modivo S.A. Fair Value". https://www.fairvalue-calculator.com/stock/MDV
Frequently asked questions
Is Modivo S.A. (MDV) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 14.31 PLN versus a price of 102.30 PLN, about 86% lower (overvalued).
What is the fair value of MDV?
Our model-based fair value for Modivo S.A. is 14.31 PLN (as of Nov 7, 2026), built from audited fundamentals. The current price: 102.30 PLN.
What is the quality score of MDV?
Modivo S.A. has a Quality Score of 20/100. 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 Modivo S.A. (MDV)?
Our model-based price target is the fair value of 14.31 PLN (as of Nov 7, 2026) from 23 valuation models. Cautious scenario 7.08 PLN, optimistic scenario 20.62 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Modivo S.A. stock forecast for 2026?
Our models put fair value at 14.31 PLN, about 86% lower versus a price of 102.30 PLN (overvalued). Cautious scenario 7.08 PLN, optimistic scenario 20.62 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Modivo S.A. (MDV)?
Modivo S.A. reported trailing-twelve-month revenue of about 11.1B PLN (latest available figure, as of Nov 7, 2026).
What growth is priced into Modivo S.A. (MDV)?
For today's price to be fair in a discounted-cash-flow model, Modivo S.A. would have to grow free cash flow by +57.6 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.9 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of MDV use?
Our models discount Modivo S.A. at 10.9 %: a base by market capitalisation (small), damped by beta 0.62, 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 Modivo S.A. that is +57.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Modivo S.A. (MDV) delivered so far?
Over the past 5 years revenue at Modivo S.A. grew +15.9 % a year. The price currently implies free-cash-flow growth of +57.6 % 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 Modivo S.A. (MDV) growing?
The median revenue growth in the sector is +8.6 % a year. That is the yardstick for the growth priced into Modivo S.A. (+57.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Modivo S.A. (MDV)?
The free-cash-flow yield on the price is 0.69 %: that much free cash flow Modivo S.A. produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Modivo S.A. (MDV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Modivo S.A. it is 14.31 PLN per share (as of Nov 7, 2026), against a price of 102.30 PLN. It is the blended result of 23 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Modivo S.A. stock overvalued or undervalued in 2026?
As of Nov 7, 2026, MDV trades above its calculated fair value: price 102.30 PLN, fair value 14.31 PLN, a gap of about −86% (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 MDV?
No. The price is what the market pays today (102.30 PLN); the fair value is what the company's own numbers justify (14.31 PLN). For Modivo S.A. the two are 87.99 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Modivo S.A. worth?
The market values Modivo S.A. at about 7.9B PLN (market capitalisation, as of Nov 7, 2026). Per share that is 102.30 PLN; our models calculate a fair value of 14.31 PLN per share.
What do the bullish and bearish scenarios say about MDV?
Our models span a range for Modivo S.A.: cautious scenario 7.08 PLN, base 14.31 PLN, optimistic 20.62 PLN per share (as of Nov 7, 2026, price 102.30 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of MDV?
The PEG ratio of Modivo S.A. is 1.94 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Modivo S.A. (MDV)?
Balance-sheet figures for Modivo S.A. (as of Nov 7, 2026): return on equity −24.6%, debt of 0.69 per unit of equity. They feed the Quality Score of 20/100, which measures business quality independently of the share price.
How far is MDV from its 52-week high?
Modivo S.A. trades at 102.30 PLN, about 33% below its 52-week high of 152.95 PLN and 40% above the low of 73.18 PLN (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 14.31 PLN is for.
Which stocks are comparable to Modivo S.A.?
From the same area (Consumer Cyclical) we also value Industria de Diseño Textil, S.A, The TJX Companies, Inc, Fast Retailing Co, Ross Stores, 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 Modivo S.A. stock attractive at the current price?
The data as of Nov 7, 2026: price 102.30 PLN, calculated fair value 14.31 PLN (−86%), Quality Score 20/100, from 23 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 MDV calculated?
We run Modivo S.A. through 23 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 14.31 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. Modivo S.A. 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 Modivo S.A. (MDV)?
The closing price on Nov 6, 2026 was 102.30 PLN. Our model-based fair value is 14.31 PLN, about 86% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Modivo S.A. right now?
The price sits above even our optimistic bull case (20.62 PLN). The favourable scenario is already priced in. Weak quality (20/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (7.08 PLN to 20.62 PLN). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Modivo S.A.
How large is the market capitalisation of Modivo S.A. (MDV)?
The market capitalisation of Modivo S.A. is 7.9B PLN (≈ $2.0B). 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/E ratio of Modivo S.A. (MDV) excluding one-off items?
Excluding one-off items, the price-to-earnings ratio of Modivo S.A. is 352.8 (fiscal year 2026, the reported result was a loss, median at FY-end 41.3 (5 FY)).
What is the P/S ratio of Modivo S.A. (MDV)?
The price-to-sales ratio of Modivo S.A. is 0.68 (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 Modivo S.A. (MDV)?
Earnings per share at Modivo S.A. are −4.60 PLN. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Modivo S.A. (MDV)?
The net margin of Modivo S.A. is −3.1% (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 Modivo S.A. (MDV)?
The return on equity (ROE) of Modivo S.A. is −24.6% (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 Modivo S.A. (MDV)?
On an EBIT basis the return on assets of Modivo S.A. is 3.6% (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 Modivo S.A. (MDV)?
The operating margin of Modivo S.A. is 3.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Modivo S.A. (MDV)?
Revenue at Modivo S.A. is growing +5.2% versus a year earlier (3y avg +6.1%). 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 Modivo S.A. (MDV)?
Earnings per share at Modivo S.A. are growing −30.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Modivo S.A. (MDV) carry?
The net debt of Modivo S.A. is 1.6B PLN (fiscal year 2026, ≈ 29.7 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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Thin data
Nov 7, 2026