Tax-Net S.A (TXN) fair value: what the stock is really worth
As of Oct 27, 2026: fair value (intrinsic value) of Tax-Net S.A stock PLN 1.05, price PLN 1.28, that is 18.0% below the price, quality 63 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range 0.3262 PLN – 3.87 PLN · fair‑value band 0.8300 PLN – 1.45 PLN · the 1.28 PLN price screens above the 1.05 PLN fair value. As of Nov 4, 2026.
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Tax-Net S.A. provides accounting, tax financial advisory, and payroll services in Poland. It offers tax consultancy, optimization and control, company reorganization, accounting, financial consulting, human resource, payroll, professional virtual office, training, and other tax services.
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Tax-Net S.A. was incorporated in 2010 and is headquartered in Katowice, Poland.
Stock analysis
Tax-Net S.A (TXN) currently trades at 1.28 PLN, while our model-based Fair Value estimate is 1.05 PLN, 18% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 1.37 PLN per share, and 5 of the 13 models we run sit above the 1.28 PLN price.
Bear case: the Asset-Based group reads lowest at 0.5000 PLN, and 8 of the 13 models stay below the price. Data coverage for this calculation is low.
Scenario range: 0.8300 PLN (bear) to 1.45 PLN (bull), the price of 1.28 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 63/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Tax-Net S.A reported revenue of 15.0M PLN in FY2025 versus 10.9M PLN in FY2022, a compound +11.1%/yr. Reported net income was −29.3K PLN in FY2025.
Key figures
Market cap 3.0M PLN (≈ $769K) Micro · P/E ratio 10.7 · P/S ratio 0.19 · EPS (TTM) 0.1200 PLN · Net margin 1.9% · Return on equity 9.6% · Return on assets (EBIT) 8.5% · Operating margin 2.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 24 out of 100 (low confidence).
What moves the price
The share trades about 41% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −8% fair-value upside, at −18%, TXN screens richer than that median.
Fair Value models
Bear0.8300 PLNFair Value 1.05 PLNBull1.45 PLN
Price 1.28 PLN · Downside -18.0%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.1016 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.69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+10.3%
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.
+11.1%
’22
’23
’24
’25
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.
8.7% (2022) → 0.9% (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
Growth Forecast
A lot of optimism in the price
The price assumes more growth than 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).
+18.8%
Yearly growth needed for the next five years to justify today's price.
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 +15.2% a year for the price.
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.Consulting Services · 75 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score63 · Above median
Fair Value upside−18.0% · Below median
Profitability
Return on equity (12 months)9.6% · Above median
Return on assets−0.6% · Bottom 25%
Net margin (12 months)1.9% · Below median
Operating margin (12 months)2.1% · Below median
Growth and dividend
Revenue growth (quarter YoY)3.1% · Above median
Valuation Multiplesvs Consulting 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). "Tax-Net S.A Fair Value". https://www.fairvalue-calculator.com/stock/TXN.WAR
Frequently asked questions
Is Tax-Net S.A (TXN) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 1.05 PLN versus the last price from Oct 27, 2026 of 1.28 PLN, about 18% lower (overvalued).
What is the fair value of TXN?
Our model-based fair value for Tax-Net S.A is 1.05 PLN (as of Nov 4, 2026), built from audited fundamentals. Last price (from Oct 27, 2026): 1.28 PLN.
What is the quality score of TXN?
Tax-Net S.A has a Quality Score of 63/100. 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 Tax-Net S.A (TXN)?
Our model-based price target is the fair value of 1.05 PLN (as of Nov 4, 2026) from 13 valuation models. Cautious scenario 0.8300 PLN, optimistic scenario 1.45 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Tax-Net S.A stock forecast for 2026?
Our models put fair value at 1.05 PLN, about 18% lower versus the last price from Oct 27, 2026 of 1.28 PLN (overvalued). Cautious scenario 0.8300 PLN, optimistic scenario 1.45 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Tax-Net S.A (TXN)?
Tax-Net S.A reported trailing-twelve-month revenue of about 15.5M PLN (latest available figure, as of Nov 4, 2026).
What growth is priced into Tax-Net S.A (TXN)?
For today's price to be fair in a discounted-cash-flow model, Tax-Net S.A would have to grow free cash flow by +18.8 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +11.1 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of TXN use?
Our models discount Tax-Net S.A at 9.3 %: a base by market capitalisation (nano), 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 Tax-Net S.A that is +18.8 % per year a year over ten years, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has Tax-Net S.A (TXN) delivered so far?
Over the past 3 years revenue at Tax-Net S.A grew +11.1 % a year. The price currently implies +18.8 % per year free-cash-flow growth a 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 Tax-Net S.A (TXN) growing?
The median revenue growth in the sector is +7.7 % a year. That is the yardstick for the growth priced into Tax-Net S.A (+18.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Tax-Net S.A (TXN)?
The free-cash-flow yield on the price is 1.92 %: that much free cash flow Tax-Net S.A produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tax-Net S.A (TXN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tax-Net S.A it is 1.05 PLN per share (as of Nov 4, 2026), against a price of 1.28 PLN. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is Tax-Net S.A stock overvalued or undervalued in 2026?
As of Nov 4, 2026, TXN trades above its calculated fair value: price 1.28 PLN, fair value 1.05 PLN, a gap of about −18% (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 TXN?
No. The price is what the market pays today (1.28 PLN); the fair value is what the company's own numbers justify (1.05 PLN). For Tax-Net S.A the two are 0.2300 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Tax-Net S.A worth?
The market values Tax-Net S.A at about 3.0M PLN (market capitalisation, as of Nov 4, 2026). Per share that is 1.28 PLN; our models calculate a fair value of 1.05 PLN per share.
What do the bullish and bearish scenarios say about TXN?
Our models span a range for Tax-Net S.A: cautious scenario 0.8300 PLN, base 1.05 PLN, optimistic 1.45 PLN per share (as of Nov 4, 2026, price 1.28 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TXN?
Tax-Net S.A trades at a price-to-earnings ratio of 10.7 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.05 PLN is built from several models across several years. Other multiples: P/B 1.1, P/S 0.2, EV/EBITDA 2.7.
How solid is the balance sheet of Tax-Net S.A (TXN)?
Balance-sheet figures for Tax-Net S.A (as of Nov 4, 2026): return on equity 9.6%. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is TXN from its 52-week high?
Tax-Net S.A trades at 1.28 PLN, about 41% below its 52-week high of 2.18 PLN and 5% above the low of 1.22 PLN (as of Nov 2, 2026). Distance from the high says nothing about value: that is what the fair value of 1.05 PLN is for.
Which stocks are comparable to Tax-Net S.A?
From the same area (Industrials) we also value Verisk Analytics, Inc, SGS SA, Equifax Inc, Bureau Veritas SA, 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 Tax-Net S.A stock attractive at the current price?
The data as of Nov 4, 2026: price 1.28 PLN, calculated fair value 1.05 PLN (−18%), Quality Score 63/100, 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 TXN calculated?
We run Tax-Net S.A through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 1.05 PLN, 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 15.0% above its aggregate fair value. Tax-Net 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 Tax-Net S.A (TXN)?
The latest price we hold is from Oct 27, 2026 and stands at 1.28 PLN. Our model-based fair value is 1.05 PLN, about 18% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tax-Net S.A right now?
Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Tax-Net S.A
How large is the market capitalisation of Tax-Net S.A (TXN)?
The market capitalisation of Tax-Net S.A is 3.0M PLN (≈ $769K). 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 Tax-Net S.A (TXN)?
The price-to-sales ratio of Tax-Net S.A is 0.19 (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 Tax-Net S.A (TXN)?
Earnings per share at Tax-Net S.A are 0.1200 PLN (price ÷ EPS = P/E 10.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Tax-Net S.A (TXN)?
The net margin of Tax-Net S.A is 1.9% (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 Tax-Net S.A (TXN)?
The return on equity (ROE) of Tax-Net S.A is 9.6% (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 Tax-Net S.A (TXN)?
On an EBIT basis the return on assets of Tax-Net S.A is 8.5% (avg 4y). 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 Tax-Net S.A (TXN)?
The operating margin of Tax-Net S.A is 2.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tax-Net S.A (TXN)?
Revenue at Tax-Net S.A is growing +3.1% versus a year earlier (3y avg +11.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
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