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CDRL SA (CDL) Fair Value & Analysis

Consumer Cyclical · PL · Market cap 61.3M PLN

CS CDRL SA CDL · WAR
Price13.20 PLN
Fair Value15.90 PLN
Upside+20.5%
Quality55/100
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Strengths

Trades 17% below our fair value of 15.90 PLN
Ranks above peers (10/13)

Risks

!Weak Growth (revenue 5y −7.8 %/yr)
!Thin margins · 3.4% net margin
!Low debt · negative free cash flow
!Narrow moat 33/100
Weak Growth (revenue 5y −7.8 %/yr)
Thin margins · 3.4% net margin
Low debt · negative free cash flow
Ranks above peers (10/13)
Narrow moat 33/100
Evidence: Medium Range 11.59 PLN – 20.67 PLN Share as image

Fair value as of: Aug 22, 2026

From 15 valuation models · updated 4 days ago

Fair value updated Aug 22, 2026, revised from 3.69 PLN to 15.90 PLN (+330.9%) since Aug 13, 2026. Share price +5.6% over the past month.

A solid business, trading 17% below our fair value.

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69 individual criteria per stock, every one traceable See the method →

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What matters now

  • Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from 11.59 PLN (bear) to 20.67 PLN (bull), base 15.90 PLN. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 55/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

27.90 PLN 7.00 PLN Fair Value 15.90 PLN May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

60‑month range 7.00 PLN – 27.90 PLN · fair‑value band 11.59 PLN – 20.67 PLN · the 13.20 PLN price screens below the 15.90 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

CDRL SA (CDL) currently trades at 13.20 PLN, while our model-based Fair Value estimate is 15.90 PLN, implying the stock looks roughly 20.5% undervalued today. The Quality Score stands at 55/100 (solid quality), in the Consumer Cyclical 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, CDRL SA generated revenue of 264M PLN at a net margin of 3.4%. Revenue declined 15.1% year over year. It earns a return on equity of 9.6%. Net debt stands at 17.5M PLN. Fundamentals as of Aug 22, 2026

Our scenario range runs from 11.59 PLN (bear case) to 20.67 PLN (bull case); at 13.20 PLN, the current price sits within 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 near its 52-week high and 98% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -44% fair-value upside, at 20%, CDL 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
Residual Income 11.96 PLN 12.03 PLN 10.86 PLN 76
ROIC Compounder 8.31 PLN 9.24 PLN 10.00 PLN 72
Gordon GGM 5.22 PLN 6.38 PLN 7.41 PLN 70
All 15 models by family
DCF Models
Owner Earnings 4.77 PLN 5.79 PLN 7.35 PLN 31
Earnings-Based
Graham-Dodd 6.51 PLN 11.71 PLN 14.44 PLN 54
EPV 8.31 PLN 9.24 PLN 10.00 PLN 59
Dividend Discount
Gordon GGM 5.22 PLN 6.38 PLN 7.41 PLN 70
DDM Multi-Stage 5.22 PLN 6.55 PLN 7.88 PLN 61
Multiples
P/E Multiple 15.79 PLN 21.05 PLN 26.31 PLN 63
P/S Multiple 12.20 PLN 16.26 PLN 20.33 PLN 58
P/B Multiple 12.20 PLN 16.26 PLN 20.33 PLN 55
EV/EBIT 17.73 PLN 23.46 PLN 29.20 PLN 53
EV/EBITDA 28.17 PLN 37.38 PLN 46.59 PLN 54
EV/Revenue 12.12 PLN 17.09 PLN 22.06 PLN 43
Asset-Based
NCAV (Graham) 8.37 PLN 11.22 PLN 16.75 PLN 50
Economic Profit
Residual Income 11.96 PLN 12.03 PLN 10.86 PLN 76
ROIC Compounder 8.31 PLN 9.24 PLN 10.00 PLN 72
Growth Earnings
Growth-Adj P/E 11.13 PLN 15.90 PLN 20.67 PLN 68

Widest divergence: Multiples (17.09 PLN) versus DCF Models (5.79 PLN). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 10.6
P/S ratio 0.23 TTM
Net margin 3.4% TTM
Return on equity 9.6% TTM
Return on assets 4.4% TTM
Operating margin -4.3% TTM
More key figures
Profitability
EPS (TTM) 1.25 PLN
Growth
Revenue (TTM) 264M PLN TTM
Revenue growth (YoY) -15.1% 3y avg -1.6%
EPS growth (YoY) -78.8%
Balance sheet & cash flow
Free cash flow −5.2M PLN FY2025
Net debt 17.5M PLN FY2025

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 53 · Market factors (momentum, volatility) 79

Profitability 57
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 87
Price trend over the last 3–12 months (market factor)
52W Momentum 85
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

CDRL S.A. designs, manufactures, and distributes children's clothing and baby accessories. Its products also include footwear, leather goods, nutrition accessories, school supplies, books, and licensed products, toys, and cosmetics.

Full company description

CDRL S.A. designs, manufactures, and distributes children's clothing and baby accessories. Its products also include footwear, leather goods, nutrition accessories, school supplies, books, and licensed products, toys, and cosmetics. The company sells its products through a chain of stores located in Poland, the Czech Republic, Romania, the Baltic States, Hungary, Slovakia, Bulgaria, Serbia, Kazakhstan, Montenegro, Mongolia, and Oman, others countries. It operates under the Coccodrillo, Lemon Explore, Petit Bijou, Broel, mokida, and Fikolki Playrooms brands. CDRL S.A. is based in Koscian, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CDRL SA reported revenue of 270M PLN in FY2025 versus 424M PLN in FY2021, a compound −10.7%/yr. Reported net income was 5.8M PLN in FY2025, compounding −34.8%/yr from FY2021.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
270M PLN
Latest YoY
−1.1%
Avg. revenue 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.
−1.6%
Avg. revenue 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.
−7.8%
Avg. revenue growth/yr (13Y) 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.
+6.8%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−23.6% (-23.6 + 0.0)
Revenue −10.7%/yr
FY21 424M PLN
FY22 284M PLN
FY23 275M PLN
FY24 273M PLN
FY25 270M PLN
Net income −34.8%/yr
FY21 31.7M PLN
FY22 12.1M PLN
FY23 −3.4M PLN
FY24 11.9M PLN
FY25 5.8M PLN

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Cite: Fair Value Calculator (2026). "CDRL SA Fair Value". https://www.fairvalue-calculator.com/stock/CDL

Peer Group

Apparel Retail · 109 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 55 · Below median
Fair Value upside +21% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 4% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) -4% · Bottom 25%
Revenue growth -15% · Bottom 25%
Dividend yield (TTM) 8.5% · Top 25%

Valuation Multiples vs Apparel Retail median · lower = cheaper

P/E (TTM) 10.6× · Cheaper than median
P/B 0.17× · Cheaper than 75% of peers
P/S (TTM) 0.06× · Cheaper than 75% of peers
EV/EBITDA 1.0× · 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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE61 · sector 33
FUTURE0 · sector 19
PAST38 · sector 33
HEALTH100 · sector 100
DIVIDEND100 · 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

Similar stocks

10 more Apparel Retail stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

Stock Price Fair Value vs Fair Value
Industria de Diseño Textil, S.A ITX €57.90 €41.13 -29%
The TJX Companies, Inc TJX $152.61 $84.95 -44%
Fast Retailing Co 6288 HK$37.20 HK$15.24 -59%
Ross Stores, Inc ROST $248.25 $118.41 -52%
Burlington Stores, Inc BURL $353.63 $143.65 -59%
Trent Limited TRENT ₹2,990 ₹709.49 -76%
lululemon athletica inc., LULU $120.87 $299.63 +148%
Aritzia Inc ATZ C$140.07 C$70.30 -50%
The Gap, Inc GAP $20.60 $36.44 +77%
Urban Outfitters, Inc URBN $74.59 $92.88 +25%

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Frequently asked questions

Is CDRL SA (CDL) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of 15.90 PLN versus a price of 13.20 PLN, about +20% (undervalued).
What is the fair value of CDL?
Our model-based fair value for CDRL SA is 15.90 PLN (as of Aug 22, 2026), built from audited fundamentals. The current price: 13.20 PLN.
What is the quality score of CDL?
CDRL SA has a Quality Score of 55/100. 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 CDRL SA (CDL)?
CDRL SA reported trailing-twelve-month revenue of about 264M PLN (latest available figure, as of Aug 22, 2026).
What is the net profit margin of CDL?
The net profit margin of CDRL SA is about 3.4%, meaning it keeps roughly 3.4% of revenue as net income. 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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