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Atal S.A (1AT) Fair Value & Analysis

Real Estate · PL · Market cap 2.5B PLN

AS Atal S.A 1AT · WAR
Price57.00 PLN
Fair Value82.50 PLN
Upside+44.7%
Quality41/100
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Expensive Growth
Solidly profitable · 18.1% net margin
Moderate debt · negative free cash flow
Ranks above peers (10/13)
Moderate moat 63/100
Evidence: High Range 59.81 PLN – 109.69 PLN Share as image

Fair value as of: Jul 17, 2026

From 9 valuation models · updated 23 days ago

Share price −0.9% over the past month.

Below-average quality, screening 45% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (59.81 PLN). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (59.81 PLN to 109.69 PLN) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

60.39 PLN 18.17 PLN Fair Value 82.50 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 18.17 PLN – 60.39 PLN · fair‑value band 59.81 PLN – 109.69 PLN · the 57.00 PLN price screens below the 82.50 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Atal S.A (1AT) currently trades at 57.00 PLN, while our model-based Fair Value estimate is 82.50 PLN, implying the stock looks roughly 44.7% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Atal S.A generated revenue of 1.0B PLN at a net margin of 16.5%. Revenue grew 130.4% year over year. It earns a return on equity of 10.3%. Net debt stands at 1.9B PLN. Fundamentals as of Jul 17, 2026

Our scenario range runs from 59.81 PLN (bear case) to 109.69 PLN (bull case); at 57.00 PLN, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 45%, 1AT screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income 37.46 PLN 43.69 PLN 71.63 PLN 76
Gordon GGM 48.30 PLN 96.25 PLN 145.75 PLN 70
DDM Multi-Stage 48.30 PLN 83.18 PLN 101.60 PLN 61
All 9 models by family
Dividend Discount
Gordon GGM 48.30 PLN 96.25 PLN 145.75 PLN 70
DDM Multi-Stage 48.30 PLN 83.18 PLN 101.60 PLN 61
Multiples
P/S Multiple 65.81 PLN 87.75 PLN 109.69 PLN 58
P/B Multiple 59.81 PLN 79.74 PLN 99.68 PLN 55
EV/EBIT 94.03 PLN 134.58 PLN 175.14 PLN 53
EV/EBITDA 67.77 PLN 99.57 PLN 131.37 PLN 54
EV/Revenue 39.46 PLN 68.22 PLN 96.98 PLN 43
Asset-Based
NCAV (Graham) 19.94 PLN 26.71 PLN 39.87 PLN 50
Economic Profit
Residual Income 37.46 PLN 43.69 PLN 71.63 PLN 76

Widest divergence: Multiples (87.75 PLN) versus Asset-Based (26.71 PLN). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 1.0B PLN
Revenue growth (YoY) +130%
Net margin 16.5%
Return on equity 10.3%
Free cash flow −659M PLN FY2025
P/E ratio 10.6
More key figures
Operating margin 23.9%
EPS (TTM) 6.05 PLN
Dividend yield 8.5%
EPS growth (YoY) +228%
Net debt 1.9B PLN FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 37 · Market factors (momentum, volatility) 63

Profitability 38
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 58
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 58
Distance to the 52-week high (market factor)
Net Issuance 62
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Atal S.A. engages in the construction and sale of residential real estate and the rental of commercial real estate in Poland. It also offers investment services for office premises. Atal S.A. was founded in 1990 and is headquartered in Cieszyn, Poland. Atal S.A. is a subsidiary of Juroszek Holding Sp. z o.o.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Atal S.A reported revenue of 1.3B PLN in FY2025 versus 1.7B PLN in FY2021, a compound −6.8%/yr. Reported net income was 223M PLN in FY2025, compounding −9.4%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
1.3B PLN
Avg. growth/yr (3Y)
−3.9%
Avg. growth/yr (5Y)
+15.6%
Avg. growth/yr (13Y)
+18.6%
Revenue −6.8%/yr
FY21 1.7B PLN
FY22 1.7B PLN
FY23 1.5B PLN
FY24 1.5B PLN
FY25 1.3B PLN
Net income −9.4%/yr
FY21 331M PLN
FY22 368M PLN
FY23 341M PLN
FY24 295M PLN
FY25 223M PLN

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Cite: Fair Value Calculator (2026). "Atal S.A Fair Value". https://www.fairvalue-calculator.com/stock/1AT

Peer Group

Real Estate - Development · 588 stocks

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.

Quality Score 41 · Below median
Fair Value upside +45% · Above median
Return on equity (TTM) 15% · Top 25%
Return on assets 5% · Top 25%
Net margin (TTM) 18% · Above median
Operating margin (TTM) 24% · Top 25%
Revenue growth 130% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.70× · Higher than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 9.7× · Cheaper than median
P/B 0.39× · Cheaper than median
P/S (TTM) 0.47× · Cheaper than median
EV/EBITDA 5.0× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 93 · sector 48
FUTURE 100 · sector 0
PAST 59 · sector 10
HEALTH 65 · sector 84
DIVIDEND 0 · sector 38

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Atal S.A (1AT) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 82.50 PLN versus a price of 57.00 PLN, about +45% (undervalued).
What is the fair value of 1AT?
Our model-based fair value for Atal S.A is 82.50 PLN (as of Jul 17, 2026), built from audited fundamentals. The current price is 57.00 PLN.
What is the quality score of 1AT?
Atal S.A has a Quality Score of 41/100. 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 revenue of Atal S.A (1AT)?
Atal S.A reported trailing-twelve-month revenue of about 1.0B PLN (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 1AT?
The net profit margin of Atal S.A is about 16.5%, meaning it keeps roughly 16.5% of revenue as net income. Based on the latest reported figures.
Does Atal S.A pay a dividend?
Atal S.A currently shows a dividend yield of about 8.47% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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