Korporacja Gospodarcza efekt S.A (EFK) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Korporacja Gospodarcza efekt S.A PLN 15.13, price PLN 6.00, upside +152.2%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Korporacja Gospodarcza efekt S.A. engages in the provision of rental and leasing services for premises and commercial stands in Poland. The company was formerly known as Przedsiebiorstwo Transportu i Uslug "efekt' S.A. and changed its name to Korporacja Gospodarcza efekt S.A. in 1992. Korporacja Gospodarcza efekt S.A.
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Korporacja Gospodarcza efekt S.A. engages in the provision of rental and leasing services for premises and commercial stands in Poland. The company was formerly known as Przedsiebiorstwo Transportu i Uslug "efekt' S.A. and changed its name to Korporacja Gospodarcza efekt S.A. in 1992. Korporacja Gospodarcza efekt S.A. was founded in 1989 and is based in Kraków, Poland.
Stock analysis
Korporacja Gospodarcza efekt S.A (EFK) currently trades at 6.00 PLN, while our model-based Fair Value estimate is 15.13 PLN, implying the stock looks roughly 60.3% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 56.33 PLN per share, and 14 of the 16 models we run sit above the 6.00 PLN price.
Bear case: the Asset-Based group reads lowest at 18.87 PLN, and 2 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: 9.81 PLN (bear) to 21.22 PLN (bull), the price of 6.00 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 58/100 (solid quality), in the Real Estate sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Korporacja Gospodarcza efekt S.A reported revenue of 40.1M PLN in FY2025 versus 30.1M PLN in FY2021, a compound +7.4%/yr. Reported net income was 18.3M PLN in FY2025, compounding +27.5%/yr from FY2021.
Key figures
Market cap 30.0M PLN (≈ $7.8M) · P/E ratio 1.7 · P/S ratio 0.77 · EPS (TTM) 3.54 PLN · Dividend yield 0.8% · Net margin 45.7% · Return on equity 13.2% · Return on assets (EBIT) 10.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 45 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 24% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −37% fair-value upside, at 152%, EFK screens cheaper than that median.
Fair Value models
Bear 9.81 PLNFair Value 15.13 PLNBull 21.22 PLN
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (2.55 PLN per share) are deliberately not added.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 ⓘEvidence = 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 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
+17.1%
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.
+0.3%
Revenue growth 16 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.
−0.1%
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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.
+22.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+21.4%
Dividend (yield on the price)0.8%
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.21% vs 19%, steady
Profit margin 2020 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.9% → 46%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−18.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Poland: IMF forecast 3.1% a year to 2030, 4.6% from 2016 to 2025) that is about −20.8% a year for the price.
Compare Korporacja Gospodarcza efekt S.A with another stock
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 Services · 547 stocks
Beats the industry median on 13/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+152% · Top 25%
Profitability
Return on equity (TTM)13% · Top 25%
Return on assets4% · Top 25%
Net margin (TTM)44% · Top 25%
Operating margin (TTM)53% · Top 25%
Growth and dividend
Revenue growth6% · Above median
Dividend yield (TTM)0.8% · Bottom 25%
Balance sheet
Debt / equity0.22× · Below median
Valuation Multiplesvs Real Estate Services median · lower = cheaper
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Is Korporacja Gospodarcza efekt S.A (EFK) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 15.13 PLN versus a price of 6.00 PLN, about +152% upside (undervalued).
What is the fair value of EFK?
Our model-based fair value for Korporacja Gospodarcza efekt S.A is 15.13 PLN (as of Sep 23, 2026), built from audited fundamentals. The current price: 6.00 PLN.
What is the quality score of EFK?
Korporacja Gospodarcza efekt S.A has a Quality Score of 58/100. 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 Korporacja Gospodarcza efekt S.A (EFK)?
Our model-based price target is the fair value of 15.13 PLN (as of Sep 23, 2026) from 16 valuation models. Cautious scenario 9.81 PLN, optimistic scenario 21.22 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Korporacja Gospodarcza efekt S.A stock forecast for 2026?
Our models put fair value at 15.13 PLN, about +152% upside versus a price of 6.00 PLN (undervalued). Cautious scenario 9.81 PLN, optimistic scenario 21.22 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Korporacja Gospodarcza efekt S.A (EFK)?
Korporacja Gospodarcza efekt S.A reported trailing-twelve-month revenue of about 40.6M PLN (latest available figure, as of Sep 23, 2026).
Does Korporacja Gospodarcza efekt S.A pay a dividend?
Korporacja Gospodarcza efekt S.A currently shows a dividend yield of about 0.83% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Korporacja Gospodarcza efekt S.A (EFK)?
For today's price to be fair in a discounted-cash-flow model, Korporacja Gospodarcza efekt S.A would have to grow free cash flow by -18.3 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.5 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of EFK use?
Our models discount Korporacja Gospodarcza efekt S.A at 9.3 %: a base by market capitalisation (nano), damped by beta 0.34, country premium for Poland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Korporacja Gospodarcza efekt S.A that is -18.3 % per year a year over ten years, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has Korporacja Gospodarcza efekt S.A (EFK) delivered so far?
Over the past 5 years revenue at Korporacja Gospodarcza efekt S.A grew +5.5 % a year. The price currently implies -18.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Korporacja Gospodarcza efekt S.A (EFK) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Korporacja Gospodarcza efekt S.A (-18.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Korporacja Gospodarcza efekt S.A (EFK)?
The free-cash-flow yield on the price is 42.71 %: that much free cash flow Korporacja Gospodarcza efekt S.A produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Korporacja Gospodarcza efekt S.A (EFK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Korporacja Gospodarcza efekt S.A it is 15.13 PLN per share (as of Sep 23, 2026), against a price of 6.00 PLN. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Korporacja Gospodarcza efekt S.A stock overvalued or undervalued in 2026?
As of Sep 23, 2026, EFK trades below its calculated fair value: price 6.00 PLN, fair value 15.13 PLN, a gap of about +152% (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 EFK?
No. The price is what the market pays today (6.00 PLN); the fair value is what the company's own numbers justify (15.13 PLN). For Korporacja Gospodarcza efekt S.A the two are 9.13 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Korporacja Gospodarcza efekt S.A worth?
The market values Korporacja Gospodarcza efekt S.A at about 30.0M PLN (market capitalisation, as of Sep 23, 2026). Per share that is 6.00 PLN; our models calculate a fair value of 15.13 PLN per share.
What do the bullish and bearish scenarios say about EFK?
Our models span a range for Korporacja Gospodarcza efekt S.A: cautious scenario 9.81 PLN, base 15.13 PLN, optimistic 21.22 PLN per share (as of Sep 23, 2026, price 6.00 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EFK?
Korporacja Gospodarcza efekt S.A trades at a price-to-earnings ratio of 1.7 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 15.13 PLN is built from several models across several years. Other multiples: P/B 0.1, P/S 0.2, EV/EBITDA 2.2.
How solid is the balance sheet of Korporacja Gospodarcza efekt S.A (EFK)?
Balance-sheet figures for Korporacja Gospodarcza efekt S.A (as of Sep 23, 2026): return on equity 13.2%, debt of 0.22 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is EFK from its 52-week high?
Korporacja Gospodarcza efekt S.A trades at 6.00 PLN, about 6% below its 52-week high of 6.35 PLN and 24% above the low of 4.82 PLN (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 15.13 PLN is for.
Which stocks are comparable to Korporacja Gospodarcza efekt S.A?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, Vonovia SE, Cellnex Telecom, S.A, 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 Korporacja Gospodarcza efekt S.A stock attractive at the current price?
The data as of Sep 23, 2026: price 6.00 PLN, calculated fair value 15.13 PLN (+152%), Quality Score 58/100, from 16 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 EFK calculated?
We run Korporacja Gospodarcza efekt S.A through 16 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 15.13 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 14.0 % above its aggregate fair value. Korporacja Gospodarcza efekt S.A currently trades 152 % 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 Korporacja Gospodarcza efekt S.A (EFK)?
The closing price on Sep 23, 2026 was 6.00 PLN. Our model-based fair value is 15.13 PLN, about +152% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Korporacja Gospodarcza efekt S.A right now?
The price is below even our cautious bear case (9.81 PLN). The market is more pessimistic than our downside scenario. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (9.81 PLN to 21.22 PLN) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Korporacja Gospodarcza efekt S.A (EFK) come from?
Earnings per share at Korporacja Gospodarcza efekt S.A grew +25.6 % a year from 2013 to 2024. Broken into its drivers: revenue per share +7.1 %, EBIT margin +11.9 %, tax rate +0.3 %, residual (interest, one-offs) +4.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Korporacja Gospodarcza efekt S.A
How large is the market capitalisation of Korporacja Gospodarcza efekt S.A (EFK)?
The market capitalisation of Korporacja Gospodarcza efekt S.A is 30.0M PLN (≈ $7.8M). 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 is the P/S ratio of Korporacja Gospodarcza efekt S.A (EFK)?
The price-to-sales ratio of Korporacja Gospodarcza efekt S.A is 0.77 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Korporacja Gospodarcza efekt S.A (EFK)?
Earnings per share at Korporacja Gospodarcza efekt S.A are 3.54 PLN (price ÷ EPS = P/E 1.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Korporacja Gospodarcza efekt S.A (EFK)?
The dividend yield of Korporacja Gospodarcza efekt S.A is 0.8% (payout 1.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Korporacja Gospodarcza efekt S.A (EFK)?
The net margin of Korporacja Gospodarcza efekt S.A is 45.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Korporacja Gospodarcza efekt S.A (EFK)?
The return on equity (ROE) of Korporacja Gospodarcza efekt S.A is 13.2% (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 Korporacja Gospodarcza efekt S.A (EFK)?
On an EBIT basis the return on assets of Korporacja Gospodarcza efekt S.A is 10.4% (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 Korporacja Gospodarcza efekt S.A (EFK)?
The operating margin of Korporacja Gospodarcza efekt S.A is 53.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Korporacja Gospodarcza efekt S.A (EFK)?
Revenue at Korporacja Gospodarcza efekt S.A is growing +6.4% versus a year earlier (3y avg +5.0%). 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 Korporacja Gospodarcza efekt S.A (EFK)?
Earnings per share at Korporacja Gospodarcza efekt S.A are growing −21.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Korporacja Gospodarcza efekt S.A (EFK) carry?
The net debt of Korporacja Gospodarcza efekt S.A is 34.4M PLN (fiscal year 2025, ≈ 2.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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