CPD SA (CPD) fair value: what the stock is really worth
As of Oct 30, 2026: fair value (intrinsic value) of CPD SA stock PLN 1.71, price PLN 0.68, upside +150.7%, quality 59 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Oct 31, 2026.
How to read this chart
60‑month range 0.6500 PLN – 15.10 PLN · fair‑value band 1.28 PLN – 2.13 PLN · the 0.6820 PLN price screens below the 1.71 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Oct 31, 2026.
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CPD S.A. together with its subsidiaries, develops and sells residential, office, and warehouse properties in Poland and Hungary. It purchases land and erects buildings; and acquires existing properties.
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The company was formerly known as Celtic Property Developments S.A. and changed its name to CPD S.A. in September 2014. CPD S.A. was founded in 1999 and is based in Warsaw, Poland.
Stock analysis
CPD SA (CPD) currently trades at 0.6820 PLN, while our model-based Fair Value estimate is 1.71 PLN, implying the stock looks roughly 60.1% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 2.27 PLN per share, and 4 of the 5 models we run sit above the 0.6820 PLN price.
Bear case: the Asset-Based group reads lowest at 0.7600 PLN, and 1 of the 5 models stay below the price. Data coverage for this calculation is low.
Scenario range: 1.28 PLN (bear) to 2.13 PLN (bull), the price of 0.6820 PLN sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Real Estate sector.
Mixed Growth: Spin-off in 2011: revenue and profit before it include the divested business. Growth is measured afresh from 2011.
CPD SA reported revenue of 91.0K PLN in FY2025 versus 1.4M PLN in FY2021, a compound −49.8%/yr. Reported net income was 3.4M PLN in FY2025, compounding −42.5%/yr from FY2021.
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 81% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −52% fair-value upside, at 151%, CPD screens cheaper than that median.
Fair Value models
Bear1.28 PLNFair Value 1.71 PLNBull2.13 PLN
Price 0.6820 PLN · Upside +150.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Spin-off in 2011: revenue and profit before it include the divested business. Growth is measured afresh from 2011.
Revenue growth 1 year
+78.4%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−50.4%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−65.5%
Start year 2020 (pandemic). Over 10 years: −41.3% a year
Revenue growth 14 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
−35.4%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−31.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−31.6%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−31.6% vs −16.3%, slowing
Profit margin 2018 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−47% → −1,426%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 31.5%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Real Estate - Diversified · 131 stocks
Beats the industry median on 6/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+150.7% · Top 25%
Profitability
Return on assets13.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)450.0% · Top 25%
Valuation Multiplesvs Real Estate - Diversified median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "CPD SA Fair Value". https://www.fairvalue-calculator.com/stock/CPD
Frequently asked questions
Is CPD SA (CPD) overvalued or undervalued?
As of Oct 31, 2026, our model estimates a fair value of 1.71 PLN versus a price of 0.6820 PLN, about +151% upside (undervalued).
What is the fair value of CPD?
Our model-based fair value for CPD SA is 1.71 PLN (as of Oct 31, 2026), built from audited fundamentals. The current price: 0.6820 PLN.
What is the quality score of CPD?
CPD SA has a Quality Score of 59/100. 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 price target for CPD SA (CPD)?
Our model-based price target is the fair value of 1.71 PLN (as of Oct 31, 2026) from 5 valuation models. Cautious scenario 1.28 PLN, optimistic scenario 2.13 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the CPD SA stock forecast for 2026?
Our models put fair value at 1.71 PLN, about +151% upside versus a price of 0.6820 PLN (undervalued). Cautious scenario 1.28 PLN, optimistic scenario 2.13 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of CPD SA (CPD)?
CPD SA reported trailing-twelve-month revenue of about 136K PLN (latest available figure, as of Oct 31, 2026).
What is the intrinsic value of CPD SA (CPD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CPD SA it is 1.71 PLN per share (as of Oct 31, 2026), against a price of 0.6820 PLN. It is the blended result of 5 valuation models (cash flow, earnings, asset, dividend).
Is CPD SA stock overvalued or undervalued in 2026?
As of Oct 31, 2026, CPD trades below its calculated fair value: price 0.6820 PLN, fair value 1.71 PLN, a gap of about +151% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CPD?
No. The price is what the market pays today (0.6820 PLN); the fair value is what the company's own numbers justify (1.71 PLN). For CPD SA the two are 1.03 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is CPD SA worth?
The market values CPD SA at about 10.2M PLN (market capitalisation, as of Oct 31, 2026). Per share that is 0.6820 PLN; our models calculate a fair value of 1.71 PLN per share.
What do the bullish and bearish scenarios say about CPD?
Our models span a range for CPD SA: cautious scenario 1.28 PLN, base 1.71 PLN, optimistic 2.13 PLN per share (as of Oct 31, 2026, price 0.6820 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CPD?
CPD SA trades at a price-to-earnings ratio of 4.2 (as of Oct 31, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 1.71 PLN is built from several models across several years. Other multiples: P/B 0.6, P/S 74.8, EV/EBITDA 1.4.
How solid is the balance sheet of CPD SA (CPD)?
Balance-sheet figures for CPD SA (as of Oct 31, 2026): return on equity −143.9%. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is CPD from its 52-week high?
CPD SA trades at 0.6820 PLN, about 81% below its 52-week high of 3.65 PLN and 5% above the low of 0.6500 PLN (as of Oct 30, 2026). Distance from the high says nothing about value: that is what the fair value of 1.71 PLN is for.
Which stocks are comparable to CPD SA?
From the same area (Real Estate) we also value Henderson Land Development Company, Swiss Prime Site AG, Central Pattana Public Company, The Phoenix Mills Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is CPD SA stock attractive at the current price?
The data as of Oct 31, 2026: price 0.6820 PLN, calculated fair value 1.71 PLN (+151%), Quality Score 59/100, from 5 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CPD calculated?
We run CPD SA through 5 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 1.71 PLN, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.4 % above its aggregate fair value. CPD SA currently trades 60 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of CPD SA (CPD)?
The closing price on Oct 30, 2026 was 0.6820 PLN. Our model-based fair value is 1.71 PLN, about +151% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CPD SA right now?
The price is below even our cautious bear case (1.28 PLN). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of CPD SA
How large is the market capitalisation of CPD SA (CPD)?
The market capitalisation of CPD SA is 10.2M PLN (≈ $2.6M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What are the earnings per share of CPD SA (CPD)?
Earnings per share at CPD SA are −0.3200 PLN (price ÷ EPS = P/E 4.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of CPD SA (CPD)?
The return on equity (ROE) of CPD SA is −144% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of CPD SA (CPD)?
On an EBIT basis the return on assets of CPD SA is 4,601% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of CPD SA (CPD)?
The operating margin of CPD SA is −1,165% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CPD SA (CPD)?
Revenue at CPD SA is growing +450% versus a year earlier (3y avg −50.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at CPD SA (CPD)?
Earnings per share at CPD SA are growing +24.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does CPD SA (CPD) generate?
The free cash flow of CPD SA is −2.0M PLN (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does CPD SA (CPD) hold?
CPD SA holds more cash than debt, 712K PLN net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Oct 31, 2026