Elkop SA (EKP) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Elkop SA PLN 2.42, price PLN 1.94, upside +24.9%, quality 83 out of 100. 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, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range 1.65 PLN – 4.19 PLN · fair‑value band 1.37 PLN – 4.37 PLN · the 1.94 PLN price screens below the 2.42 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Elkop Estonia SE engages in the rental and management of owned and leased real estate in Poland. It leases retail, service, manufacturing, and office spaces, as well as purchases commercial real estate. The company was formerly known as Elkop SE and changed its name to Elkop Estonia SE in January 2025.
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Elkop Estonia SE engages in the rental and management of owned and leased real estate in Poland. It leases retail, service, manufacturing, and office spaces, as well as purchases commercial real estate. The company was formerly known as Elkop SE and changed its name to Elkop Estonia SE in January 2025. The company was founded in 1950 and is headquartered in Tallinn, Estonia. Elkop Estonia SE operates as a subsidiary of Patro Invest OU.
Stock analysis
Elkop SA (EKP) currently trades at 1.94 PLN, while our model-based Fair Value estimate is 2.42 PLN, implying the stock looks roughly 19.9% undervalued today.
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Valuation
How firm this estimate is: it rests on 24 models at a data quality of 91/100, which puts the evidence level at low.
Scenario range: 1.37 PLN (bear) to 4.37 PLN (bull), the price of 1.94 PLN sits inside 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 83/100 (high quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Elkop SA reported revenue of 42.1M PLN in FY2024 versus 11.4M PLN in FY2020, a compound +38.7%/yr. Reported net income was 40.5M PLN in FY2024, compounding +213.6%/yr from FY2020. FY2020 was a trough year, so the rate overstates the trend.
Key figures
Market cap 17.6M PLN (≈ $4.5M) · P/E ratio 0.5 · P/S ratio 0.44 · EPS (TTM) 4.29 PLN · Net margin 96.2% · Return on equity 34.9% · Return on assets (EBIT) 9.8% · Operating margin 312%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 20% below its 52-week high and 18% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −10% fair-value upside, at 25%, EKP screens cheaper than that median.
Fair Value models
Bear 1.37 PLNFair Value 2.42 PLNBull 4.37 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 2024 figures (about 12 months old). Earnings retained since then (4.29 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. 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.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.83/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+122.1%
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.
+50.8%
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.
+35.2%
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.
+12.5%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+30.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+30.3%
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.41.9% vs 31.2%, picking up
Profit margin 2018 to 2024 ⓘ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.−4% → 81%
2024 sits 534% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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).
−12.1%
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 −14.8% a year for the price.
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 · 520 stocks
Beats the industry median on 7/8 measures
Overall it ranks above its industry peers.
Valuation
Quality Score83 · Top 25%
Fair Value upside+24.8% · Above median
Profitability
Return on equity (TTM)34.9% · Top 25%
Return on assets15.2% · Top 25%
Net margin (TTM)96.2% · Top 25%
Growth and dividend
Revenue growth−85.3% · Bottom 25%
Balance sheet
Debt / equity0.21× · Below median
Valuation Multiplesvs Real Estate Services 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). "Elkop SA Fair Value". https://www.fairvalue-calculator.com/stock/EKP
Frequently asked questions
Is Elkop SA (EKP) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 2.42 PLN versus a price of 1.94 PLN, about +25% upside (undervalued).
What is the fair value of EKP?
Our model-based fair value for Elkop SA is 2.42 PLN (as of Sep 27, 2026), built from audited fundamentals. The current price: 1.94 PLN.
What is the quality score of EKP?
Elkop SA has a Quality Score of 83/100. 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 Elkop SA (EKP)?
Our model-based price target is the fair value of 2.42 PLN (as of Sep 27, 2026) from 14 valuation models. Cautious scenario 1.37 PLN, optimistic scenario 4.37 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Elkop SA stock forecast for 2026?
Our models put fair value at 2.42 PLN, about +25% upside versus a price of 1.94 PLN (undervalued). Cautious scenario 1.37 PLN, optimistic scenario 4.37 PLN. The calculation is refreshed regularly with new filings.
What growth is priced into Elkop SA (EKP)?
For today's price to be fair in a discounted-cash-flow model, Elkop SA would have to grow free cash flow by -12.1 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +35.2 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of EKP use?
Our models discount Elkop SA at 10.6 %: a base by market capitalisation (nano), 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 Elkop SA that is -12.1 % per year a year over ten years, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Elkop SA (EKP) delivered so far?
Over the past 5 years revenue at Elkop SA grew +35.2 % a year. The price currently implies -12.1 % 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 Elkop SA (EKP) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Elkop SA (-12.1 % 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 Elkop SA (EKP)?
The free-cash-flow yield on the price is 23.92 %: that much free cash flow Elkop SA produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Elkop SA (EKP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Elkop SA it is 2.42 PLN per share (as of Sep 27, 2026), against a price of 1.94 PLN. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Elkop SA stock overvalued or undervalued in 2026?
As of Sep 27, 2026, EKP trades below its calculated fair value: price 1.94 PLN, fair value 2.42 PLN, a gap of about +25% (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 EKP?
No. The price is what the market pays today (1.94 PLN); the fair value is what the company's own numbers justify (2.42 PLN). For Elkop SA the two are 0.4820 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Elkop SA worth?
The market values Elkop SA at about 17.6M PLN (market capitalisation, as of Sep 27, 2026). Per share that is 1.94 PLN; our models calculate a fair value of 2.42 PLN per share.
What do the bullish and bearish scenarios say about EKP?
Our models span a range for Elkop SA: cautious scenario 1.37 PLN, base 2.42 PLN, optimistic 4.37 PLN per share (as of Sep 27, 2026, price 1.94 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EKP?
Elkop SA trades at a price-to-earnings ratio of 0.5 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2.42 PLN is built from several models across several years.
How solid is the balance sheet of Elkop SA (EKP)?
Balance-sheet figures for Elkop SA (as of Sep 27, 2026): return on equity 34.9%, debt of 0.21 per unit of equity. They feed the Quality Score of 83/100, which measures business quality independently of the share price.
How far is EKP from its 52-week high?
Elkop SA trades at 1.94 PLN, about 20% below its 52-week high of 2.42 PLN and 18% above the low of 1.65 PLN (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 2.42 PLN is for.
Which stocks are comparable to Elkop SA?
From the same area (Real Estate) we also value Vingroup Joint Stock Company, CBRE Group, KE Holdings, Swire Properties 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 Elkop SA stock attractive at the current price?
The data as of Sep 27, 2026: price 1.94 PLN, calculated fair value 2.42 PLN (+25%), Quality Score 83/100, from 14 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 EKP calculated?
We run Elkop SA through 14 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 2.42 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 14.5 % above its aggregate fair value. Elkop SA currently trades 20 % 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 Elkop SA (EKP)?
The closing price on Oct 2, 2026 was 1.94 PLN. Our model-based fair value is 2.42 PLN, about +25% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Elkop SA right now?
The model range is unusually wide (1.37 PLN to 4.37 PLN). The outcome hinges heavily on assumptions, so read the point estimate with caution. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Elkop SA
How large is the market capitalisation of Elkop SA (EKP)?
The market capitalisation of Elkop SA is 17.6M PLN (≈ $4.5M). 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 Elkop SA (EKP)?
The price-to-sales ratio of Elkop SA is 0.44 (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 Elkop SA (EKP)?
Earnings per share at Elkop SA are 4.29 PLN (price ÷ EPS = P/E 0.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Elkop SA (EKP)?
The net margin of Elkop SA is 96.2% (fiscal year 2024). 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 Elkop SA (EKP)?
The return on equity (ROE) of Elkop SA is 34.9% (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 Elkop SA (EKP)?
On an EBIT basis the return on assets of Elkop SA is 9.8% (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 Elkop SA (EKP)?
The operating margin of Elkop SA is 312% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Elkop SA (EKP)?
Revenue at Elkop SA is growing −85.3% versus a year earlier (3y avg +50.8%). 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 Elkop SA (EKP)?
Earnings per share at Elkop SA are growing +146% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Elkop SA (EKP) hold?
Elkop SA holds more cash than debt, 38.5K PLN net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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