Tatry mountain resorts, a.s. (TMR) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Tatry mountain resorts, a.s. stock CZK 544, price CZK 370, upside +47.1%, quality 25 out of 100. Rating: undervalued. Calculated from audited financials with 11 of our 26 valuation models and 37 quality factors, updated daily.
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Tatry mountain resorts, a.s.
TMR · PRThe stock costs 32% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range 356.00 CZK – 950.00 CZK · fair‑value band 179.26 CZK – 1,050 CZK · the 370.00 CZK price screens below the 544.25 CZK fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Company profile
Tatry mountain resorts, a.s., together with its subsidiaries, provides tourism services in Slovakia. It operates through seven segments: Mountains Resorts, Leisure Parks, Golf, Dining, Sports Services and Stores, Hotels, and Real Estate.
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The Mountains Resorts segment operates mountain resorts, including Jasná Nízke Tatry, Vysoké Tatry " Tatranská Lomnica, Starý Smokovec, "trbské Pleso, Polish Szczyrk mountain resort, the Austrian Alpine resorts of Muttereralm, Mölltaler Gletscher and Ankogel Mallnitz, and the Je"ted Ski resort.
The Leisure Parks segment operates Water park Tatralandia, water park Be"enová, and Legendia- Silesian amusement parks. The Golf segment leases and operates golf resorts, such as Golf & Ski Resort Ostravice.
The Dining segment operates restaurants, bars, après ski bars, and fast-food joints on and off the slopes of the mountain resorts, in the leisure parks, and golf resorts.
The Sports Services and Stores segment operates sports services and stores under the Tatry Motion, Szczyrk Motion, and Je"ted Motion brands comprising specialized stores with ski and snowboard goods, ski schools, and sports equipment rentals; and leisure park stores that sell souvenirs and specialized summer and sports merchandise.
The Hotels segment owns or leases and operates a portfolio of hotels and lodging. The Real Estate segment engages in the development, construction, and sale of apartments. The company was formerly known as Jasná Nízke Tatry, a.s. and changed its name to Tatry mountain resorts, a.s. in June 2009.
Tatry mountain resorts, a.s. was founded in 1992 and is based in Liptovský Mikulá", Slovakia.
Stock analysis
Tatry mountain resorts, a.s. (TMR) currently trades at 370.00 CZK, while our model-based Fair Value estimate is 544.25 CZK, implying the stock looks roughly 32% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 658.35 CZK per share, and 5 of the 11 models we run sit above the 370.00 CZK price.
Bear case: the Asset-Based group reads lowest at 122.70 CZK, and 6 of the 11 models stay below the price. Data coverage for this calculation is low.
Scenario range: 179.26 CZK (bear) to 1,050 CZK (bull), the price of 370.00 CZK 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 25/100 (below-average quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Tatry mountain resorts, a.s., reported revenue of €209M in FY2025 versus €63.5M in FY2021, a compound +34.7%/yr. Reported net income was −€11.5M in FY2025.
Key figures
Market cap 4.8B CZK (≈ $221M) Micro · P/S ratio 21.7 · EPS (TTM) −0.6600 CZK · Net margin −5.5% · Return on equity −8.2% · Return on assets (EBIT) 2.0% (5-year average) · Operating margin 27.6% · Revenue (TTM) €223M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 4% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 34% fair-value upside, at 47%, TMR screens cheaper than that median.
Fair Value models
All 11 models by family
The fair value above starts from this blend and is adjusted for dilution from new shares.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
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Compare Tatry mountain resorts, a.s., with another stock
Price, fair value, quality and upside side by side.
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.Resorts & Casinos · 62 stocks
Valuation Multiplesvs Resorts & Casinos median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Consumer Discretionary sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Return on equity by industry
- Quality Score by industry
- PEG screener for stocks with fair value
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Resorts & Casinos stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| MGM China Holdings 2282 | HK$10.01 | HK$30.03 | +200% | vs TMR |
| Sands China Ltd 1928 | HK$11.03 | HK$18.86 | +71% | vs TMR |
| Boyd Gaming Corporation BYD | $76.57 | $129.48 | +69% | vs TMR |
| Las Vegas Sands Corp LVS | $40.73 | $55.26 | +36% | vs TMR |
| Galaxy Entertainment Group 0027 | HK$34.84 | HK$46.74 | +34% | vs TMR |
| Genting Singapore Limited G13 | 0.6100 SGD | 0.6400 SGD | +5% | vs TMR |
| MGM Resorts International MGM | $32.34 | $31.91 | −1% | vs TMR |
| Wynn Resorts, Limited WYNN | $83.11 | $54.88 | −34% | vs TMR |
| Red Rock Resorts, Inc RRR | $48.22 | $30.31 | −37% | vs TMR |
| Vail Resorts, Inc MTN | $158.59 | $83.42 | −47% | vs TMR |
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Key figures of Tatry mountain resorts, a.s.
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