EN DE
Watch ML System S.A. for free: we tell you when fair value or trend changes.
Data-driven stock valuation

ML System S.A. (MLS) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of ML System S.A. stock PLN 6.04, price PLN 13.42, that is 55.0% below the price, quality 25 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.

  1. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Technology PL · ISIN PLMLSTM00015

MS ML System S.A. logo Thin data Nov 7, 2026

ML System S.A.

MLS · WAR
Very expensive, weak quality

Our calculation puts a fair price 55% below what the stock costs today.

Low debt
Revenue last quarter +117% vs. a year ago.
Fair value 6.04 PLN · Strongly overvalued
Quality 25/100
Weak Growth (revenue 5y −0.7 %/yr in PLN)
Loss-making · -12.7% net margin (TTM)
Negative free cash flow
Trails peers (3/11)
Narrow moat 10/100 · thin data
Thin data
Watch ML System S.A. for free: we tell you when fair value or trend changes. Watch for free

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

115.20 PLN 13.16 PLN Fair Value 6.04 PLN Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.

How to read this chart

60‑month range 13.16 PLN – 115.20 PLN · fair‑value band 4.51 PLN – 9.02 PLN · the 13.42 PLN price screens above the 6.04 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.

Follow ML System in your weekly email

Every Wednesday you see whether ML System 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.

Which stocks are undervalued right now? Check free Discover now →

Company profile

ML System S.A. produces and sale of flat glass and glass-photovoltaic panels in Poland.

Show moreShow less

The company offers PV, building integrated photovoltaics (BIPV), Ultra PV, and semi-flexible PV modules; smart city products, including photovoltaic terrace shelters, car parking roofing, and lamp, as well as smart pylon, intelligent bus shelter, and smart benches; intelligent heating glass, glass with an active quantum coating for automotive and construction industry, variable translucency glass, and glass heater, and sill glass.

It also provides anti-virus barrier and ML-UV-BOX products; photovoltaic sunshades, facade panels, insulated glass, and skylights, as well as ventilated facade and roof tiles; PV Max Color module products; and building management systems.

ML System S.A. was incorporated in 2006 and is based in Zaczernie, Poland.

Stock analysis

ML System S.A. (MLS) currently trades at 13.42 PLN, while our model-based Fair Value estimate is 6.04 PLN, 55% below the price, so the stock looks overvalued today.

Show more

Valuation

How firm this estimate is: it rests on 1 models at a data quality of 81/100, which puts the data coverage at low.

Scenario range: 4.51 PLN (bear) to 9.02 PLN (bull), the price of 13.42 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 25/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

ML System S.A. reported revenue of 123M PLN in FY2025 versus 189M PLN in FY2021, a compound −10.2%/yr. Reported net income was −42.4M PLN in FY2025.

Key figures

Market cap 99.1M PLN (≈ $25.3M) Micro · P/S ratio 0.66 · EPS (TTM) −2.77 PLN · Net margin −12.7% · Return on equity −19.6% · Return on assets (EBIT) −2.1% (5-year average) · Operating margin −7.6% · Revenue (TTM) 160M PLN.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 10 out of 100 (low confidence).

What moves the price

The share trades about 33% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at 10% fair-value upside, at −55%, MLS screens richer than that median.

Fair Value models

Bear 4.51 PLN Fair Value 6.04 PLN Bull 9.02 PLN
Price 13.42 PLN · Downside -55.0%
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
NCAV (Graham) 4.51 PLN 6.04 PLN 9.02 PLN 54
All 1 models by family
Asset-Based
NCAV (Graham) 4.51 PLN 6.04 PLN 9.02 PLN 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 25/100

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

Profitability 2
How much profit the company makes from its sales and capital
Quality Growth 12
Are margins and returns getting better?
Cashflow 4
Do the profits arrive as real cash?
Financial strength 14
Debt, balance sheet and risk of trouble
Investment 82
Does it invest with discipline instead of growing at any price?
Low Volatility 66
How calm the share price moves, does not count
Price momentum 29
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 9
Distance to the 52-week high, does not count
New shares 72
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. 3/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−24.3%
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.
−24.2%
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.
−0.7%
Start year 2020 (pandemic). Over 10 years: +9.2% a year
Revenue growth 11 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.
+8.6%
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.
9.1% (2020) → −28.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

MLS screens overvalued: fair value 55% below the price. Compare with First Solar, Inc →

Compare ML System S.A. with another stock

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.Solar · 97 stocks

Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score 25 · Bottom 25%
Fair Value upside −55.0% · Bottom 25%
Profitability
Return on assets −8.6% · Bottom 25%
Net margin (12 months) −12.7% · Bottom 25%
Operating margin (12 months) −7.6% · Below median
Growth and dividend
Revenue growth (quarter YoY) 117.3% · Top 25%
Balance sheet
Debt / equity 0.41× · Above median

Valuation Multiplesvs Solar median · lower = cheaper

P/B 0.96× · Cheapest 25%
P/S (12 months) 0.62× · Cheapest 25%
EV/EBITDA 18.1× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 4
FUTURE (revenue growth)100 · sector 7
PAST (return on equity)0 · sector 0
HEALTH (low debt)79 · sector 82
DIVIDEND (yield)0 · sector 26

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 Solar stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
First Solar, Inc FSLR $201.14 $392.02 +95% vs MLS
Hengdian Group 002056 ¥17.29 ¥31.86 +84% vs MLS
Waaree Energies Limited WAAREEENER ₹2,438 ₹3,613 +48% vs MLS
Jinko Solar Co 688223 ¥4.38 ¥6.49 +48% vs MLS
Nextpower Inc NXT $104.91 $115.40 +10% vs MLS
Premier Energies Limited PREMIERENE ₹890.00 ₹908.90 +2% vs MLS
Tongwei Co 600438 ¥12.25 ¥12.13 −1% vs MLS
Hanwha Solutions Corporation 009830 26,050 KRW 21,850 KRW −16% vs MLS
CSI Solar Co 688472 ¥9.03 ¥5.85 −35% vs MLS
Shanghai Aiko Solar Energy Co 600732 ¥13.40 ¥7.22 −46% vs MLS

Explore undervalued stocks

More undervalued Technology stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend StocksUndervalued 52-Week Low Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Free calculator Peter Lynch Fair Value Formula &…Free calculator
Run the numbers yourself: free valuation calculators
DCF CalculatorP/E Ratio CalculatorPEG Ratio CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorIntrinsic ValueIntrinsic vs Extrinsic ValueP/E Ratio by Sector
For bloggers & editors: embed code + live data

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.

ML System S.A.: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "ML System S.A. Fair Value". https://www.fairvalue-calculator.com/stock/MLS

Frequently asked questions

Is ML System S.A. (MLS) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 6.04 PLN versus a price of 13.42 PLN, about 55% lower (overvalued).
What is the fair value of MLS?
Our model-based fair value for ML System S.A. is 6.04 PLN (as of Nov 7, 2026), built from audited fundamentals. The current price: 13.42 PLN.
What is the quality score of MLS?
ML System S.A. has a Quality Score of 25/100. 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 ML System S.A. (MLS)?
Our model-based price target is the fair value of 6.04 PLN (as of Nov 7, 2026) from 1 valuation models. Cautious scenario 4.51 PLN, optimistic scenario 9.02 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the ML System S.A. stock forecast for 2026?
Our models put fair value at 6.04 PLN, about 55% lower versus a price of 13.42 PLN (overvalued). Cautious scenario 4.51 PLN, optimistic scenario 9.02 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of ML System S.A. (MLS)?
ML System S.A. reported trailing-twelve-month revenue of about 160M PLN (latest available figure, as of Nov 7, 2026).
What is the intrinsic value of ML System S.A. (MLS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ML System S.A. it is 6.04 PLN per share (as of Nov 7, 2026), against a price of 13.42 PLN. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is ML System S.A. stock overvalued or undervalued in 2026?
As of Nov 7, 2026, MLS trades above its calculated fair value: price 13.42 PLN, fair value 6.04 PLN, a gap of about −55% (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 MLS?
No. The price is what the market pays today (13.42 PLN); the fair value is what the company's own numbers justify (6.04 PLN). For ML System S.A. the two are 7.38 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is ML System S.A. worth?
The market values ML System S.A. at about 99.1M PLN (market capitalisation, as of Nov 7, 2026). Per share that is 13.42 PLN; our models calculate a fair value of 6.04 PLN per share.
What do the bullish and bearish scenarios say about MLS?
Our models span a range for ML System S.A.: cautious scenario 4.51 PLN, base 6.04 PLN, optimistic 9.02 PLN per share (as of Nov 7, 2026, price 13.42 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of ML System S.A. (MLS)?
Balance-sheet figures for ML System S.A. (as of Nov 7, 2026): return on equity −19.6%, debt of 0.41 per unit of equity. They feed the Quality Score of 25/100, which measures business quality independently of the share price.
How far is MLS from its 52-week high?
ML System S.A. trades at 13.42 PLN, about 33% below its 52-week high of 19.96 PLN and 2% above the low of 13.16 PLN (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 6.04 PLN is for.
Which stocks are comparable to ML System S.A.?
From the same area (Technology) we also value First Solar, Inc, Nextpower Inc, Tongwei Co, Waaree Energies Limited, 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 ML System S.A. stock attractive at the current price?
The data as of Nov 7, 2026: price 13.42 PLN, calculated fair value 6.04 PLN (−55%), Quality Score 25/100, from 1 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 MLS calculated?
We run ML System S.A. through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of 6.04 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. ML System 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 ML System S.A. (MLS)?
The closing price on Nov 6, 2026 was 13.42 PLN. Our model-based fair value is 6.04 PLN, about 55% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ML System S.A. right now?
The price sits above even our optimistic bull case (9.02 PLN). The favourable scenario is already priced in. Weak quality (25/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (4.51 PLN to 9.02 PLN) leaves room in how you read the outcome.

Key figures of ML System S.A.

How large is the market capitalisation of ML System S.A. (MLS)?
The market capitalisation of ML System S.A. is 99.1M PLN (≈ $25.3M). 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 ML System S.A. (MLS)?
The price-to-sales ratio of ML System S.A. is 0.66 (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 ML System S.A. (MLS)?
Earnings per share at ML System S.A. are −2.77 PLN. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ML System S.A. (MLS)?
The net margin of ML System S.A. is −12.7% (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 ML System S.A. (MLS)?
The return on equity (ROE) of ML System S.A. is −19.6% (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 ML System S.A. (MLS)?
On an EBIT basis the return on assets of ML System S.A. is −2.1% (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 ML System S.A. (MLS)?
The operating margin of ML System S.A. is −7.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ML System S.A. (MLS)?
Revenue at ML System S.A. is growing +117% versus a year earlier (3y avg −24.2%). 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 ML System S.A. (MLS)?
Earnings per share at ML System S.A. are growing −1.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does ML System S.A. (MLS) generate?
The free cash flow of ML System S.A. is −19.2M PLN (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does ML System S.A. (MLS) carry?
The net debt of ML System S.A. is 150M PLN (fiscal year 2025). 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 ML System S.A. in the live analysis

One click puts ML System S.A. on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.