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Archicom S.A (ARH) Fair Value & Analysis

Real Estate · PL · Market cap 3.1B PLN

AS Archicom S.A ARH · WAR
Price52.00 PLN
Fair Value24.40 PLN
Upside-53.1%
Quality31/100
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Expensive Growth
Solidly profitable · 13.1% net margin
Moderate debt · negative free cash flow
3.35% dividend yield
Ranks above peers (8/13)
Moderate moat 57/100
Evidence: High Range 18.30 PLN – 30.50 PLN Share as image

Fair value as of: Jul 19, 2026

From 9 valuation models · updated 22 days ago

Share price −0.8% over the past month.

Below-average quality, and screening another 53% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (30.50 PLN). The favourable scenario is already priced in.
  • Weak quality (31/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • 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)

54.94 PLN 11.71 PLN Fair Value 24.40 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range 11.71 PLN – 54.94 PLN · fair‑value band 18.30 PLN – 30.50 PLN · the 52.00 PLN price screens above the 24.40 PLN fair value. Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Archicom S.A (ARH) currently trades at 52.00 PLN, while our model-based Fair Value estimate is 24.40 PLN, implying the stock looks roughly 53.1% overvalued today. The Quality Score stands at 31/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Archicom S.A generated revenue of 1.3B PLN at a net margin of 13.1%. It earns a return on equity of 15.7%. Net debt stands at 790M PLN. The stock trades on a trailing P/E of 15.8. Fundamentals as of Jul 19, 2026

Our scenario range runs from 18.30 PLN (bear case) to 30.50 PLN (bull case); at 52.00 PLN, the current price sits above 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 8% below its 52-week high and 27% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -53%, ARH screens richer 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 17.07 PLN 17.92 PLN 18.64 PLN 76
Gordon GGM 17.21 PLN 34.30 PLN 51.94 PLN 70
DDM Multi-Stage 17.21 PLN 29.64 PLN 36.21 PLN 61
All 9 models by family
Dividend Discount
Gordon GGM 17.21 PLN 34.30 PLN 51.94 PLN 70
DDM Multi-Stage 17.21 PLN 29.64 PLN 36.21 PLN 61
Multiples
P/S Multiple 18.30 PLN 24.40 PLN 30.50 PLN 58
P/B Multiple 18.30 PLN 24.40 PLN 30.50 PLN 55
EV/EBIT 25.59 PLN 37.23 PLN 48.88 PLN 53
EV/EBITDA 19.85 PLN 29.58 PLN 39.31 PLN 54
EV/Revenue 9.92 PLN 18.18 PLN 26.44 PLN 43
Asset-Based
NCAV (Graham) 10.65 PLN 14.27 PLN 21.30 PLN 50
Economic Profit
Residual Income 17.07 PLN 17.92 PLN 18.64 PLN 76

Widest divergence: Dividend Discount (29.64 PLN) versus Asset-Based (14.27 PLN). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) 1.3B PLN
Revenue growth (YoY) +1,608%
Net margin 13.1%
Return on equity 15.7%
Free cash flow −21.4M PLN FY2025
P/E ratio 15.8
More key figures
Operating margin 18.6%
EPS (TTM) 3.37 PLN
Dividend yield 3.4%
EPS growth (YoY) +166%
Net debt 790M PLN FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 31/100

Of which business quality 29 · Market factors (momentum, volatility) 61

Profitability 26
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 13
Earnings quality: real cash, not paper profit
Fin. Strength 39
Balance sheet, leverage, solvency risk
Investment 23
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 49
Price trend over the last 3–12 months (market factor)
52W Momentum 62
Distance to the 52-week high (market factor)
Net Issuance 40
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

Archicom S.A. engages in the real estate activities in Poland. It also involves in the construction and sale of residential real estate; buying and selling real estate; implementation of construction projects; and leasing of intellectual property and similar products, as well as provides financial services.

Full company description

Archicom S.A. engages in the real estate activities in Poland. It also involves in the construction and sale of residential real estate; buying and selling real estate; implementation of construction projects; and leasing of intellectual property and similar products, as well as provides financial services. The company was founded in 1986 and is headquartered in Wroclaw, Poland. Archicom S.A. operates as a subsidiary of Echo Investment S.A.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Archicom S.A reported revenue of 962M PLN in FY2025 versus 638M PLN in FY2021, a compound +10.8%/yr. Reported net income was 84.0M PLN in FY2025, compounding −9.6%/yr from FY2021.

Growth Quality 53/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
962M PLN
Latest YoY
+29.6%
Avg. growth/yr (3Y)
+24.4%
Avg. growth/yr (5Y)
+7.5%
Avg. growth/yr (13Y)
+18.3%
Revenue +10.8%/yr
FY21 638M PLN
FY22 500M PLN
FY23 1.1B PLN
FY24 742M PLN
FY25 962M PLN
Net income −9.6%/yr
FY21 126M PLN
FY22 110M PLN
FY23 245M PLN
FY24 107M PLN
FY25 84.0M PLN

ARH screens 53% overvalued. Compare with DLF Limited →

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

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 31 · Bottom 25%
Fair Value upside −53% · Bottom 25%
Return on equity (TTM) 16% · Top 25%
Return on assets 4% · Top 25%
Net margin (TTM) 13% · Above median
Operating margin (TTM) 19% · Above median
Revenue growth 1608% · Top 25%
Dividend yield (TTM) 3.4% · Above median
Debt / equity 0.54× · Higher than median

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

P/E (TTM) 15.5× · Pricier than median
P/B 0.66× · Pricier than median
P/S (TTM) 0.63× · Cheaper than median
EV/EBITDA 5.9× · 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 0 · sector 48
FUTURE 100 · sector 0
PAST 63 · sector 10
HEALTH 73 · sector 84
DIVIDEND 67 · sector 38

VALUE 0: the price sits above our fair-value range.

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 19, 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 Archicom S.A (ARH) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 24.40 PLN versus a price of 52.00 PLN, about −53% (overvalued).
What is the fair value of ARH?
Our model-based fair value for Archicom S.A is 24.40 PLN (as of Jul 19, 2026), built from audited fundamentals. The current price is 52.00 PLN.
What is the quality score of ARH?
Archicom S.A has a Quality Score of 31/100. 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 Archicom S.A (ARH)?
Archicom S.A reported trailing-twelve-month revenue of about 1.3B PLN (latest available figure, as of Jul 19, 2026).
What is the net profit margin of ARH?
The net profit margin of Archicom S.A is about 13.1%, meaning it keeps roughly 13.1% of revenue as net income. Based on the latest reported figures.
Does Archicom S.A pay a dividend?
Archicom S.A currently shows a dividend yield of about 3.42% relative to its recent price (as of Jul 19, 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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