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Astarta Holding (AST) Fair Value & Analysis

Consumer Defensive · PL · Market cap 1.1B PLN

AH Astarta Holding AST · WAR
Price43.25 PLN
Fair Value70.24 PLN
Upside+62.4%
Quality40/100
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Expensive Growth
Loss-making · -0.1% net margin
Low debt · negative free cash flow
Mixed vs. peers (7/13)
Narrow moat 29/100
Evidence: High Range 55.64 PLN – 85.87 PLN Share as image

Fair value as of: Jul 19, 2026

From 16 valuation models · updated 23 days ago

Fair value updated Jul 19, 2026, revised from 16.20 PLN to 70.24 PLN (+333.6%) since Jul 14, 2026. Share price −3.4% over the past month.

Below-average quality, screening 62% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (55.64 PLN). The market is more pessimistic than our downside scenario.
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Price vs Fair Value (5 years)

61.92 PLN 11.82 PLN Fair Value 70.24 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 11.82 PLN – 61.92 PLN · fair‑value band 55.64 PLN – 85.87 PLN · the 43.25 PLN price screens below the 70.24 PLN fair value. Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Astarta Holding (AST) currently trades at 43.25 PLN, while our model-based Fair Value estimate is 70.24 PLN, implying the stock looks roughly 62.4% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Consumer Defensive 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, Astarta Holding generated revenue of 23.5B PLN at a net margin of -0.1%. Revenue grew 23.1% year over year. It earns a return on equity of -0.1%. Net debt stands at 94.0M PLN. Fundamentals as of Jul 19, 2026

Our scenario range runs from 55.64 PLN (bear case) to 85.87 PLN (bull case); at 43.25 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 27% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 102% fair-value upside, at 62%, AST 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 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
Residual Income 15.77 PLN 15.34 PLN 12.66 PLN 76
ROIC Compounder 14.19 PLN 16.23 PLN 17.94 PLN 72
Gordon GGM 3.88 PLN 7.00 PLN 9.64 PLN 70
All 16 models by family
Earnings-Based
Graham-Dodd 5.54 PLN 15.11 PLN 19.81 PLN 54
Lynch FV 2.98 PLN 4.26 PLN 5.54 PLN 50
PEG = 1.0 2.98 PLN 4.26 PLN 5.54 PLN 46
EPV 14.19 PLN 16.23 PLN 17.94 PLN 59
Dividend Discount
Gordon GGM 3.88 PLN 7.00 PLN 9.64 PLN 70
DDM Multi-Stage 3.88 PLN 5.72 PLN 7.42 PLN 61
Multiples
P/E Multiple 12.83 PLN 17.11 PLN 21.39 PLN 63
P/S Multiple 10.39 PLN 13.85 PLN 17.32 PLN 58
P/B Multiple 10.39 PLN 13.85 PLN 17.32 PLN 55
EV/EBIT 25.73 PLN 34.57 PLN 43.40 PLN 53
EV/EBITDA 39.30 PLN 52.66 PLN 66.02 PLN 54
EV/Revenue 18.14 PLN 26.25 PLN 34.36 PLN 43
Asset-Based
NCAV (Graham) 11.30 PLN 15.14 PLN 22.59 PLN 50
Economic Profit
Residual Income 15.77 PLN 15.34 PLN 12.66 PLN 76
ROIC Compounder 14.19 PLN 16.23 PLN 17.94 PLN 72
Growth Earnings
Growth-Adj P/E 10.16 PLN 14.51 PLN 18.86 PLN 68

Widest divergence: Multiples (17.11 PLN) versus Earnings-Based (4.26 PLN). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 23.5B PLN
Revenue growth (YoY) +23.1%
Net margin -0.1%
Return on equity -0.1%
Free cash flow −65.7M PLN FY2025
P/E ratio 234.0
More key figures
EPS (TTM) 0.2100 PLN
EPS growth (YoY) -94.6%
Net debt 94.0M PLN FY2025

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

Quality Score breakdown

Overall quality 40/100

Of which business quality 42 · Market factors (momentum, volatility) 41

Profitability 29
Margins and returns on capital today
Quality Growth 5
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 48
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 79
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

Astarta Holding PLC, together with its subsidiaries, engages in the agriculture, sugar production, cattle farming, soybean crushing, and bioenergy businesses in Ukraine, Switzerland, Europe, Asia, and internationally.

Full company description

Astarta Holding PLC, together with its subsidiaries, engages in the agriculture, sugar production, cattle farming, soybean crushing, and bioenergy businesses in Ukraine, Switzerland, Europe, Asia, and internationally. It offers sugar, molasses, and sugar beet pulp granulated; feed corn, wheat, soybean, and Ukrainian rapeseeds and sunflower seeds; hydrated soybean oil, toasted soybean feed meal, and granulated soybean shell; millet, sunflower, mustard seed, and flax; and milk. The company is also involved in the sale of natural gas; trade and investment activities; asset and land management; storage services; research and development; and insurance. It exports its products. The company was founded in 1993 and is headquartered in Kyiv, Ukraine.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Astarta Holding reported revenue of 472M PLN in FY2025 versus 491M PLN in FY2021, a compound −1.0%/yr. Reported net income was 19.9M PLN in FY2025, compounding −36.5%/yr from FY2021.

Growth Quality 19/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
472M PLN
Latest YoY
−22.9%
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.
−2.6%
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.
+2.6%
Avg. growth/yr (19Y) 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.
+13.1%
Revenue −1.0%/yr
FY21 491M PLN
FY22 510M PLN
FY23 619M PLN
FY24 612M PLN
FY25 472M PLN
Net income −36.5%/yr
FY21 122M PLN
FY22 65.2M PLN
FY23 58.3M PLN
FY24 83.2M PLN
FY25 19.9M PLN
Character of growth · EPS growth decomposed (2015-2025) +1.0 % p.a.
Revenue per share +6.2 pp

of which total revenue +6.2 pp · buybacks/dilution +0.0 pp

EBIT margin −9.1 pp
Tax rate −1.4 pp
Residual (interest, one-offs) +5.4 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Astarta Holding Fair Value". https://www.fairvalue-calculator.com/stock/AST

Peer Group

Farm Products · 288 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 40 · Bottom 25%
Fair Value upside +62% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) -0% · Below median
Operating margin (TTM) 0% · Below median
Revenue growth 23% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.11× · Lower than median

Valuation Multiples vs Farm Products median · lower = cheaper

P/E (TTM) 213.6× · Pricier than 75% of peers
P/B 0.53× · Cheaper than median
P/S (TTM) 0.01× · Cheaper than 75% of peers
PEG 0.25× · Cheaper than 75% of peers

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 25
FUTURE 100 · sector 20
PAST 0 · sector 17
HEALTH 95 · sector 94
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 Farm Products stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Muyuan Foods Group 002714 ¥40.90 ¥48.19 +18%
Wens Foodstuff Group 300498 ¥14.51 ¥12.08 -17%
Mowi ASA MOWI kr 188.40 kr 262.59 +39%
PT Charoen Pokphand Indonesia Tbk, CPIN 3,120 IDR 7,076 IDR +127%
Charoen Pokphand Foods Public Company CPF 22.00 THB 55.71 THB +153%
PT Triputra Agro Persada Tbk TAPG 1,540 IDR 3,105 IDR +102%
PT FAP Agri Tbk FAPA 7,300 IDR 7,463 IDR +2%
PT Japfa Comfeed Indonesia Tbk JPFA 2,070 IDR 7,231 IDR +249%
Thaifoods Group TFGR 10.60 THB 23.53 THB +122%
PT Jhonlin Agro Raya Tbk JARR 1,845 IDR 610.80 IDR -67%

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Frequently asked questions

Is Astarta Holding (AST) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 70.24 PLN versus a price of 43.25 PLN, about +62% (undervalued).
What is the fair value of AST?
Our model-based fair value for Astarta Holding is 70.24 PLN (as of Jul 19, 2026), built from audited fundamentals. The current price is 43.25 PLN.
What is the quality score of AST?
Astarta Holding has a Quality Score of 40/100. 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 Astarta Holding (AST)?
Astarta Holding reported trailing-twelve-month revenue of about 23.5B PLN (latest available figure, as of Jul 19, 2026).
What is the net profit margin of AST?
The net profit margin of Astarta Holding is about -0.1%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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