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BBI Development S.A (BBD) Fair Value & Analysis

Real Estate · PL · Market cap 54.9M PLN

BD BBI Development S.A BBD · WAR
Price5.38 PLN
Fair Value2.92 PLN
Upside-45.7%
Quality49/100
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Weak Growth
Loss-making · -37.4% net margin
Low debt · generates free cash flow
Mixed vs. peers (5/12)
Narrow moat 20/100
Evidence: Medium Range 1.54 PLN – 4.69 PLN Share as image

Fair value as of: Jul 13, 2026

From 9 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from 0.9000 PLN to 2.92 PLN (+224.4%) since Jun 26, 2026. Share price −1.8% over the past month.

Below-average quality, and screening another 46% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (4.69 PLN). The favourable scenario is already priced in.
  • The model range is unusually wide (1.54 PLN to 4.69 PLN). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
  • 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)

7.14 PLN 3.61 PLN Fair Value 2.92 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range 3.61 PLN – 7.14 PLN · fair‑value band 1.54 PLN – 4.69 PLN · the 5.38 PLN price screens above the 2.92 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

BBI Development S.A (BBD) currently trades at 5.38 PLN, while our model-based Fair Value estimate is 2.92 PLN, implying the stock looks roughly 45.7% overvalued today. The Quality Score stands at 49/100 (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: medium).

Over the trailing twelve months, BBI Development S.A generated revenue of 21.9M PLN at a net margin of -38.6%. Revenue grew 31.7% year over year. It earns a return on equity of -5.2%. Net debt stands at 84.6M PLN. Fundamentals as of Jul 13, 2026

Our scenario range runs from 1.54 PLN (bear case) to 4.69 PLN (bull case); at 5.38 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 17% 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 -46%, BBD 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
Growth DCF 6.32 PLN 10.04 PLN 14.44 PLN 80
Rev-Margin DCF 6.05 PLN 11.59 PLN 17.75 PLN 74
Gordon GGM 0.4800 PLN 0.8000 PLN 1.04 PLN 70
All 9 models by family
DCF Models
FCF DCF 6.33 PLN 10.68 PLN 16.19 PLN 38
5Y Revenue Exit 6.05 PLN 11.71 PLN 18.87 PLN 39
10Y Revenue Exit 5.79 PLN 10.50 PLN 16.74 PLN 36
Dividend Discount
Gordon GGM 0.4800 PLN 0.8000 PLN 1.04 PLN 70
DDM Multi-Stage 0.4800 PLN 0.7400 PLN 0.8600 PLN 61
Multiples
EV/Revenue 6.42 PLN 11.01 PLN 15.60 PLN 43
Asset-Based
NCAV (Graham) 7.72 PLN 10.35 PLN 15.45 PLN 50
Growth DCF
Growth DCF 6.32 PLN 10.04 PLN 14.44 PLN 80
Rev-Margin DCF 6.05 PLN 11.59 PLN 17.75 PLN 74

Widest divergence: Multiples (11.01 PLN) versus Dividend Discount (0.7400 PLN). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 21.9M PLN
Revenue growth (YoY) +31.7%
Net margin -38.6%
Return on equity -5.2%
Free cash flow 12.6M PLN FY2025
P/E ratio 44.8
More key figures
Operating margin 20.1%
EPS (TTM) 0.1200 PLN
EPS growth (YoY) -75.2%
Net debt 84.6M PLN FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 49 · Market factors (momentum, volatility) 54

Profitability 3
Margins and returns on capital today
Quality Growth 79
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 47
Distance to the 52-week high (market factor)
Net Issuance 85
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

BBI Development S.A. engages in the real estate business in Poland. It engages in the development of projects, apartments, offices, and residential property. The company is based in Warsaw, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

BBI Development S.A reported revenue of 21.9M PLN in FY2025 versus 20.9M PLN in FY2021, a compound +1.2%/yr. Reported net income was −8.5M PLN in FY2025.

Growth Quality 9/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
21.9M PLN
Latest YoY
+57.3%
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.
+10.4%
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.
−23.7%
Avg. growth/yr (15Y) 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.
+13.9%
Revenue +1.2%/yr
FY21 20.9M PLN
FY22 16.3M PLN
FY23 24.4M PLN
FY24 13.9M PLN
FY25 21.9M PLN
Net income
FY21 −6.4M PLN
FY22 −9.4M PLN
FY23 50.9M PLN
FY24 −3.4M PLN
FY25 −8.5M PLN

BBD screens 46% overvalued. Compare with DLF Limited →

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

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 51 · Above median
Fair Value upside −46% · Bottom 25%
Return on assets -0% · Below median
Net margin (TTM) -37% · Bottom 25%
Operating margin (TTM) 7% · Below median
Revenue growth 7% · Above median
Debt / equity 0.30× · Lower than median

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

P/E (TTM) 44.8× · Pricier than 75% of peers
P/B 0.10× · Cheaper than 75% of peers
P/S (TTM) 0.66× · Cheaper than median
P/FCF 1.2× · Pricier 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 37 · sector 0
PAST 0 · sector 10
HEALTH 85 · sector 84
DIVIDEND 0 · 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 13, 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 BBI Development S.A (BBD) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 2.92 PLN versus a price of 5.38 PLN, about −46% (overvalued).
What is the fair value of BBD?
Our model-based fair value for BBI Development S.A is 2.92 PLN (as of Jul 13, 2026), built from audited fundamentals. The current price is 5.38 PLN.
What is the quality score of BBD?
BBI Development S.A has a Quality Score of 49/100. 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 BBI Development S.A (BBD)?
BBI Development S.A reported trailing-twelve-month revenue of about 21.9M PLN (latest available figure, as of Jul 13, 2026).
What is the net profit margin of BBD?
The net profit margin of BBI Development S.A is about -38.6%, 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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