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ANY Biztonsági Nyomda Nyrt. (ANY) Fair Value & Analysis

Industrials · HU · Market cap 113B HUF

AB ANY Biztonsági Nyomda Nyrt. ANY · BUD
Price6,700 HUF
Fair Value12,473 HUF
Upside+86.2%
Quality71/100
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Healthy Growth
Solidly profitable · 11.1% net margin
Low debt · generates free cash flow
6.45% dividend yield
Ranks above peers (10/14)
Wide moat 75/100
Evidence: Medium Range 9,355 HUF – 16,380 HUF Share as image

Fair value as of: Jul 14, 2026

From 24 valuation models · updated 27 days ago

Share price −4.6% over the past month.

A solid business, screening 86% undervalued on our models.

What matters now

  • The rarer combination: high quality (71/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • The price is below even our cautious bear case (9,355 HUF). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

8,360 HUF 910.47 HUF Fair Value 12,473 HUF Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 910.47 HUF – 8,360 HUF · fair‑value band 9,355 HUF – 16,380 HUF · the 6,700 HUF price screens below the 12,473 HUF fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

Full chart & analysis →

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Analysis

ANY Biztonsági Nyomda Nyrt. (ANY) currently trades at 6,700 HUF, while our model-based Fair Value estimate is 12,473 HUF, implying the stock looks roughly 86.2% undervalued today. The Quality Score stands at 71/100 (solid quality), in the Industrials 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: medium), always confirm before acting.

Over the trailing twelve months, ANY Biztonsági Nyomda Nyrt. generated revenue of 65.5B HUF at a net margin of 11.1%. Revenue declined 27.0% year over year. It earns a return on equity of 37.7%. Net debt stands at 2.2B HUF. Fundamentals as of Jul 14, 2026

Our scenario range runs from 9,355 HUF (bear case) to 16,380 HUF (bull case); at 6,700 HUF, 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 20% below its 52-week high, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at 86%, ANY 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 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. Evidence
Highest evidence
Growth DCF 8,422 HUF 15,231 HUF 27,295 HUF 80
Residual Income 5,104 HUF 8,170 HUF 143,031 HUF 76
Rev-Margin DCF 7,322 HUF 12,775 HUF 20,170 HUF 74
All 24 models by family
DCF Models
FCF DCF 8,580 HUF 16,189 HUF 30,596 HUF 38
Owner Earnings 7,491 HUF 14,190 HUF 26,574 HUF 31
5Y Revenue Exit 7,322 HUF 12,961 HUF 20,820 HUF 39
5Y EBITDA Exit 9,598 HUF 17,868 HUF 28,631 HUF 41
5Y P/E Exit 9,008 HUF 16,596 HUF 25,617 HUF 38
10Y Revenue Exit 7,445 HUF 13,067 HUF 22,153 HUF 36
10Y EBITDA Exit 9,211 HUF 16,758 HUF 28,987 HUF 37
10Y P/E Exit 8,812 HUF 15,801 HUF 26,350 HUF 35
Earnings-Based
Graham-Dodd 4,039 HUF 21,697 HUF 30,066 HUF 54
Lynch FV 6,000 HUF 8,571 HUF 11,142 HUF 50
PEG = 1.0 6,000 HUF 8,571 HUF 11,142 HUF 46
EPV 7,919 HUF 9,171 HUF 10,266 HUF 59
Multiples
P/E Multiple 9,355 HUF 12,473 HUF 15,591 HUF 63
P/S Multiple 7,513 HUF 10,018 HUF 12,522 HUF 58
P/B Multiple 4,059 HUF 5,412 HUF 6,765 HUF 55
EV/EBIT 11,580 HUF 15,304 HUF 19,027 HUF 53
EV/EBITDA 10,672 HUF 14,093 HUF 17,513 HUF 54
EV/Revenue 6,721 HUF 9,426 HUF 12,131 HUF 43
Asset-Based
NCAV (Graham) 601.33 HUF 805.78 HUF 1,203 HUF 50
Growth DCF
Growth DCF 8,422 HUF 15,231 HUF 27,295 HUF 80
Rev-Margin DCF 7,322 HUF 12,775 HUF 20,170 HUF 74
Economic Profit
Residual Income 5,104 HUF 8,170 HUF 143,031 HUF 76
ROIC Compounder 8,397 HUF 10,298 HUF 12,370 HUF 72
Growth Earnings
Growth-Adj P/E 8,820 HUF 12,600 HUF 16,380 HUF 68

Widest divergence: DCF Models (15,801 HUF) versus Asset-Based (805.78 HUF). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 65.5B HUF
Revenue growth (YoY) -27.0%
Net margin 11.1%
Return on equity 37.7%
Free cash flow 8.5B HUF FY2025
P/E ratio 15.6
More key figures
Operating margin 22.3%
EPS (TTM) 505.44 HUF
Dividend yield 6.5%
EPS growth (YoY) -32.1%
Net debt 2.2B HUF FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 70 · Market factors (momentum, volatility) 41

Profitability 90
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 60
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 40
Disciplined investing over empire-building
Low Volatility 88
Calm price path (market factor)
Momentum 29
Price trend over the last 3–12 months (market factor)
52W Momentum 7
Distance to the 52-week high (market factor)
Net Issuance 82
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

ANY Biztonsági Nyomda Nyrt. operates as a security printing company in Europe. It offers ID&Trust's solution that allows governments to issue vaccination, immunity and test certificates; documents and e-IDs; passport and visa solutions, including biometric passport; ID project management solutions; tax and excise stamps; document security solutions, …

Full company description

ANY Biztonsági Nyomda Nyrt. operates as a security printing company in Europe. It offers ID&Trust's solution that allows governments to issue vaccination, immunity and test certificates; documents and e-IDs; passport and visa solutions, including biometric passport; ID project management solutions; tax and excise stamps; document security solutions, including document printers, paper additives, security inks, and verification devices; and contactless bank cards with applications in public transport, loyalty, and e-banking. The company also provides digital solutions for tickets, personal ID, car documents, documents, finance, and health; business, lottery, and election forms; meal vouchers and printed matter with security features; security labels; and tickets and passes for public transport. It serves government, financial, retail, and transport sectors. The company was formerly known as State Printing Company PLC. ANY Biztonsági Nyomda Nyrt. was founded in 1851 and is based in Budapest, Hungary.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

ANY Biztonsági Nyomda Nyrt. reported revenue of 71.9B HUF in FY2025 versus 40.7B HUF in FY2021, a compound +15.3%/yr. Reported net income was 8.5B HUF in FY2025, compounding +24.0%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
71.9B HUF
Latest YoY
+1.9%
Avg. growth/yr (3Y) 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.
+18.5%
Avg. growth/yr (5Y) 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.
+21.2%
Avg. growth/yr (7Y) 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.
+13.0%
Revenue +15.3%/yr
FY21 40.7B HUF
FY22 43.2B HUF
FY23 55.5B HUF
FY24 70.5B HUF
FY25 71.9B HUF
Net income +24.0%/yr
FY21 3.6B HUF
FY22 2.2B HUF
FY23 4.3B HUF
FY24 7.9B HUF
FY25 8.5B HUF

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Cite: Fair Value Calculator (2026). "ANY Biztonsági Nyomda Nyrt. Fair Value". https://www.fairvalue-calculator.com/stock/ANY

Peer Group

Specialty Business Services · 253 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 71 · Top 25%
Fair Value upside +86% · Top 25%
Return on equity (TTM) 38% · Top 25%
Return on assets 11% · Top 25%
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth -27% · Bottom 25%
Dividend yield (TTM) 6.5% · Top 25%
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 15.6× · Cheaper than median
P/B 6.54× · Pricier than 75% of peers
P/S (TTM) 1.72× · Pricier than median
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 8.2× · 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 100 · sector 24
FUTURE 0 · sector 27
PAST 100 · sector 33
HEALTH 92 · sector 92
DIVIDEND 100 · sector 54

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 Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $206.25 $95.30 -54%
RELX PLC RELX $33.70 $32.49 -4%
Thomson Reuters Corporation TRI C$133.87 C$70.40 -47%
Copart, Inc CPRT $27.61 $28.59 +4%
Global Payments Inc GPN $80.49 $69.67 -13%
RB Global, Inc RBA C$156.43 C$49.14 -69%
Brambles Limited BXB A$18.79 A$12.28 -35%
UL Solutions Inc ULS $87.76 $33.62 -62%
Wolters Kluwer N.V WKL €62.56 €103.99 +66%
Aramark ARMK $56.74 $13.73 -76%

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Frequently asked questions

Is ANY Biztonsági Nyomda Nyrt. (ANY) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 12,473 HUF versus a price of 6,700 HUF, about +86% (undervalued).
What is the fair value of ANY?
Our model-based fair value for ANY Biztonsági Nyomda Nyrt. is 12,473 HUF (as of Jul 14, 2026), built from audited fundamentals. The current price is 6,700 HUF.
What is the quality score of ANY?
ANY Biztonsági Nyomda Nyrt. has a Quality Score of 71/100. 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 ANY Biztonsági Nyomda Nyrt. (ANY)?
ANY Biztonsági Nyomda Nyrt. reported trailing-twelve-month revenue of about 65.5B HUF (latest available figure, as of Jul 14, 2026).
What is the net profit margin of ANY?
The net profit margin of ANY Biztonsági Nyomda Nyrt. is about 11.1%, meaning it keeps roughly 11.1% of revenue as net income. Based on the latest reported figures.
Does ANY Biztonsági Nyomda Nyrt. pay a dividend?
ANY Biztonsági Nyomda Nyrt. currently shows a dividend yield of about 6.45% relative to its recent price (as of Jul 14, 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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