Digital Network S.A. (DIG) Fair Value & Analysis

Communication Services · PL · Market cap 1.2B PLN (≈ $327M) · ISIN PL4FNMD00013

What is Digital Network S.A. really worth?

DN Digital Network S.A. DIG · WAR

Price301.80 PLN

Fair Value180.32 PLN

Upside−40.3%

Quality66/100

A solid business, but trading 67% above our fair value of 180.32 PLN.

As of Aug 14, 2026, the fair value of Digital Network S.A. is 180.32 PLN per share against a price of 301.80 PLN, so the fair value sits 40% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

✓Healthy Growth (revenue 5y +33.9 %/yr)

✓Highly profitable · 28.2% net margin

✓Low debt · generates free cash flow

✓Wide moat 88/100

Risks

!Mixed vs. peers (7/14)

!Weak on dividend: 16 out of 100

For context

·0.80% dividend yield

Evidence: High Range 132.14 PLN – 318.97 PLN

Fair value as of: Aug 14, 2026

From 26 valuation models · updated 23 days ago

Share price −3.0% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

What matters now

Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
A fairly wide model range (132.14 PLN to 318.97 PLN) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.

How to read this chart

60‑month range 4.25 PLN – 315.60 PLN · fair‑value band 132.14 PLN – 318.97 PLN · the 301.80 PLN price screens above the 180.32 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 14, 2026.

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Analysis

Digital Network S.A. (DIG) currently trades at 301.80 PLN, while our model-based Fair Value estimate is 180.32 PLN, implying the stock looks roughly 67.4% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Communication Services sector. Bull case: the DCF Models group reads highest at a median of 257.43 PLN per share, and 1 of the 26 models we run sit above the 301.80 PLN price. Bear case: the Dividend Discount group reads lowest at 36.20 PLN, and 25 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Digital Network S.A. generated revenue of 84.0M PLN at a net margin of 36.6%. Revenue grew 12.1% year over year. It earns a return on equity of 58.2%. Net debt stands at 51.6M PLN. Fundamentals as of Aug 14, 2026

Our scenario range runs from 132.14 PLN (bear case) to 318.97 PLN (bull case); at 301.80 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 314% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at −6% fair-value upside, at −40%, DIG screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 4.73 PLN per share, which is 2.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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

FCF DCF 140.58 PLN 224.98 PLN 439.64 PLN 76

Growth DCF 133.79 PLN 239.81 PLN 417.40 PLN 76

EPV 75.34 PLN 86.03 PLN 94.94 PLN 74

All 26 models by family

DCF Models

FCF DCF 140.58 PLN 224.98 PLN 439.64 PLN 76

Owner Earnings 140.73 PLN 288.80 PLN 558.70 PLN 72

5Y Revenue Exit 83.63 PLN 140.94 PLN 240.73 PLN 70

5Y EBITDA Exit 136.80 PLN 257.43 PLN 459.52 PLN 72

5Y P/E Exit 139.64 PLN 279.84 PLN 456.66 PLN 68

10Y Revenue Exit 100.22 PLN 171.53 PLN 256.31 PLN 66

10Y EBITDA Exit 136.14 PLN 261.13 PLN 480.25 PLN 65

10Y P/E Exit 137.96 PLN 265.91 PLN 477.77 PLN 61

Earnings-Based

Graham-Dodd 61.40 PLN 414.41 PLN 580.75 PLN 63

Lynch FV 121.48 PLN 173.54 PLN 225.60 PLN 61

PEG = 1.0 121.48 PLN 173.54 PLN 225.60 PLN 57

EPV 75.34 PLN 86.03 PLN 94.94 PLN 74

Dividend Discount

Gordon GGM 21.99 PLN 39.63 PLN 54.55 PLN 68

DDM Multi-Stage 21.99 PLN 36.20 PLN 42.33 PLN 67

Multiples

P/E Multiple 148.98 PLN 198.64 PLN 248.30 PLN 63

P/S Multiple 71.16 PLN 94.87 PLN 118.59 PLN 58

P/B Multiple 66.56 PLN 88.75 PLN 110.94 PLN 55

EV/EBIT 142.44 PLN 190.94 PLN 239.45 PLN 66

EV/EBITDA 141.47 PLN 189.64 PLN 237.82 PLN 67

EV/Revenue 53.87 PLN 78.26 PLN 102.66 PLN 53

Asset-Based

NCAV (Graham) 12.68 PLN 16.99 PLN 25.36 PLN 54

Growth DCF

Growth DCF 133.79 PLN 239.81 PLN 417.40 PLN 76

Rev-Margin DCF 83.63 PLN 147.23 PLN 240.19 PLN 71

Economic Profit

Residual Income 55.74 PLN 79.13 PLN 613.21 PLN 64

ROIC Compounder 88.88 PLN 118.27 PLN 154.61 PLN 72

Growth Earnings

Growth-Adj P/E 171.75 PLN 245.36 PLN 318.97 PLN 67

Widest divergence: DCF Models (257.43 PLN) versus Asset-Based (16.99 PLN). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 32.3

P/S ratio 10.8 P/E × margin

EPS (TTM) 9.34 PLN price ÷ EPS = P/E 32.3

Dividend yield 0.8% payout 25.8%

Net margin 33.3% FY2025

Return on equity 49.8% TTM

More key figures

Profitability

Return on assets (EBIT) 20.6% avg 5y

Operating margin 30.6% TTM

Growth

Revenue (TTM) 140M PLN TTM

Revenue growth (YoY) +12.1% 3y avg +32.6%

EPS growth (YoY) +26.1%

Balance sheet & cash flow

Free cash flow 47.8M PLN FY2025

Net debt 51.6M PLN FY2025 · ≈ 1.1 yrs of FCF

Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 65 · Market factors (momentum, volatility) 90

Profitability 63

Margins and returns on capital today

Quality Growth 48

Are margins and returns improving?

Cashflow 88

Earnings quality: real cash, not paper profit

Fin. Strength 64

Balance sheet, leverage, solvency risk

Investment 27

Disciplined investing over empire-building

Low Volatility 71

Calm price path (market factor)

Momentum 98

Price trend over the last 3–12 months (market factor)

52W Momentum 97

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

Full company description

Digital Network SA, together with its subsidiaries, engages in media and advertising business in Poland and internationally. The company provides digital outdoor advertising services; and consulting services. It also provides digital content created by naEkranie.pl website. In addition, the company engages in the distribution, support, and marketing of thematic TV channels, as well as marketing and promotional activities for customers. Digital Network SA was formerly known as 4fun Media S.A. and changed its name to Digital Network SA in April 2022. The company was incorporated in 2005 and is based in Warsaw, Poland. Digital Network SA operates as a subsidiary of Epicom Ltd.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Digital Network S.A. reported revenue of 113M PLN in FY2025 versus 32.1M PLN in FY2021, a compound +37.0%/yr. Reported net income was 37.6M PLN in FY2025, compounding +46.8%/yr from FY2021.

Growth Quality 100/100

Revenue growth appears healthy and is supported by profitability and cash-flow quality.

Latest Revenue (FY 2025)

113M PLN

Latest YoY

+51.2%

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.

+32.6%

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.

+33.9%

Avg. revenue growth/yr (18Y) ⓘ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.

+11.5%

Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.

≈ +36.8% (approximate, leans on 2025) · in PLN

Earnings growth per share plus dividend yield: the value created per share and year.

Earnings growth per share+36.0%

Dividend yield0.8%

Trend ⓘ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.5Y 36.0% vs 10Y 33.2%, steady

Operating margin (EBIT) ⓘ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.11.6% (2020) → 44.7% (2025) · rising

Worst earnings drop302% (2019) (loss year, drop beyond 100%) · in PLN

⚠ Rate leans on 2025: that final year sits 76% above its own trend (e.g. a one-off disposal gain) and could not be adjusted

Revenue +37.0%/yr

FY21 32.1M PLN

FY22 48.4M PLN

FY23 64.3M PLN

FY24 74.7M PLN

FY25 113M PLN

Net income +46.8%/yr

FY21 8.1M PLN

FY22 8.5M PLN

FY23 21.3M PLN

FY24 25.2M PLN

FY25 37.6M PLN

Character of growth · EPS growth decomposed (2015-2025) +35.4 % p.a.

Revenue per share +11.8 %

of which total revenue +12.2 % · buybacks/dilution −0.4 %

EBIT margin +22.2 %

Tax rate −0.3 %

Residual (interest, one-offs) −0.5 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

DIG screens 67% overvalued. Compare with Nexstar Media Group →

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Digital Network S.A. · Fair Value
180.32 PLN −67%Fair Value
Calculator →

<a href="https://www.fairvalue-calculator.com/stock/DIG.WAR" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">Digital Network S.A. · Fair Value</span><br><b style="font-size:20px">180.32 PLN</b> <span style="color:#e0816f;font-weight:700;font-size:14px">−67%</span></span><span style="font-size:11px;color:#7BB290;font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "Digital Network S.A. Fair Value". https://www.fairvalue-calculator.com/stock/DIG.WAR

Peer Group

Broadcasting · 63 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 66 · Top 25%

Fair Value upside −40% · Bottom 25%

Return on equity (TTM) 50% · Top 25%

Return on assets 16% · Top 25%

Net margin (TTM) 28% · Top 25%

Operating margin (TTM) 31% · Top 25%

Revenue growth 179% · Top 25%

Dividend yield (TTM) 0.8% · Bottom 25%

Debt / equity 0.35× · Higher than median

Valuation Multiples vs Broadcasting median · lower = cheaper

P/E (TTM) 32.3× · Pricier than median

P/B 3.11× · Pricier than 75% of peers

P/S (TTM) 2.34× · Pricier than 75% of peers

P/FCF 6.9× · Pricier than median

EV/EBITDA 5.0× · Cheaper than median

Strength profile in five axes (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.

This stock

Sector peers

VALUE0 · sector 56

FUTURE100 · sector 0

PAST100 · sector 2

HEALTH83 · sector 96

DIVIDEND16 · sector 84

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

Insider activity: 40/100

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 Broadcasting stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).

Stock	Price	Fair Value	vs Fair Value
Nexstar Media Group NXST	$177.84	$151.97	−15%
PT Elang Mahkota Teknologi Tbk, through its subsidiaries, EMTK	500.00 IDR	1,094 IDR	+119%
MFE-Mediaforeurope N.V MFEB	€3.62	€5.38	+49%
Jiangsu Broadcasting Cable Information Network Corporation 600959	¥3.10	¥1.14	−63%
Sun TV Network Limited SUNTV	₹487.90	₹586.58	+20%
MBC Group 4072	20.41 SAR	19.24 SAR	−6%
Métropole Télévision S.A MMT	€12.04	€15.96	+33%
Beijing Gehua Catv Network Co 600037	¥7.07	¥3.63	−49%
PT Surya Citra Media Tbk, SCMA	216.00 IDR	198.19 IDR	−8%
Zee Entertainment Enterprises Limited ZEEL	₹104.65	₹48.34	−54%

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Frequently asked questions

Is Digital Network S.A. (DIG) overvalued or undervalued?

As of Aug 14, 2026, our model estimates a fair value of 180.32 PLN versus a price of 301.80 PLN, about −40% upside (overvalued).

What is the fair value of DIG?

Our model-based fair value for Digital Network S.A. is 180.32 PLN (as of Aug 14, 2026), built from audited fundamentals. The current price: 301.80 PLN.

What is the quality score of DIG?

Digital Network S.A. has a Quality Score of 66/100. 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 Digital Network S.A. (DIG)?

Our model-based price target is the fair value of 180.32 PLN (as of Aug 14, 2026) from 26 valuation models. Cautious scenario 132.14 PLN, optimistic scenario 318.97 PLN. It is a calculation from audited fundamentals, not an analyst target.

What is the Digital Network S.A. stock forecast for 2026?

Our models put fair value at 180.32 PLN, about −40% upside versus a price of 301.80 PLN (overvalued). Cautious scenario 132.14 PLN, optimistic scenario 318.97 PLN. The calculation is refreshed regularly with new filings.

What is the revenue of Digital Network S.A. (DIG)?

Digital Network S.A. reported trailing-twelve-month revenue of about 84.0M PLN (latest available figure, as of Aug 14, 2026).

What is the net profit margin of DIG?

The net profit margin of Digital Network S.A. is about 36.6%, meaning it keeps roughly 36.6% of revenue as net income. Based on the latest reported figures.

Does Digital Network S.A. pay a dividend?

Digital Network S.A. currently shows a dividend yield of about 0.80% relative to its recent price (as of Aug 14, 2026).

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