Excellence S.A (EXC) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of Excellence S.A stock PLN 0.76, price PLN 0.45, upside +68.9%, quality 68 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 Nov 4, 2026.
How to read this chart
60‑month range 0.1224 PLN – 0.8000 PLN · fair‑value band 0.5000 PLN – 1.08 PLN · the 0.4500 PLN price screens below the 0.7600 PLN fair value. As of Nov 4, 2026.
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Excellence S.A. produces and sells fruit syrups, drinks, functional waters, and dietary supplements in Poland and internationally. The company provides flavoured beverage concentrates; squashes; lemonades; and coffee syrups.
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It also engages in bottling and labeling services for beverage brands and supermarket chains. Excellence S.A. was founded in 1992 and is headquartered in Stryków, Poland.
Stock analysis
Excellence S.A (EXC) currently trades at 0.4500 PLN, while our model-based Fair Value estimate is 0.7600 PLN, implying the stock looks roughly 41% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 1.10 PLN per share, and 19 of the 23 models we run sit above the 0.4500 PLN price.
Bear case: the Asset-Based group reads lowest at 0.1000 PLN, and 4 of the 23 models stay below the price. Data coverage for this calculation is low.
Scenario range: 0.5000 PLN (bear) to 1.08 PLN (bull), the price of 0.4500 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 68/100 (solid quality), in the Consumer Defensive sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Excellence S.A reported revenue of 83.1M PLN in FY2025 versus 72.9M PLN in FY2022, a compound +4.5%/yr. Reported net income was 8.4M PLN in FY2025, compounding +196.4%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap 71.0M PLN (≈ $18.2M) Micro · P/E ratio 6.4 · P/S ratio 0.80 · EPS (TTM) 0.0700 PLN · Net margin 12.4% · Return on equity 24.2% · Return on assets (EBIT) 19.9% · Operating margin 20.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 74 out of 100 (low confidence).
What moves the price
The share trades about 44% below its 52-week high and 60% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −10% fair-value upside, at 69%, EXC screens cheaper than that median.
Fair Value models
Bear0.5000 PLNFair Value 0.7600 PLNBull1.08 PLN
Price 0.4500 PLN · Upside +68.9%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.0593 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.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.73/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+5.7%
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.
+4.5%
’22
’23
’24
’25
What shareholders gained per year (last 3 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 3 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. Basis: EBIT basis.
≈ +14.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.8%
Dividend (yield on the price)0.0%
⚠ Rate on operating basis: 2025 sits 68% above its own trend.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
+2.9%
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 −0.3% 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.Confectioners · 80 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside+68.9% · Top 25%
Profitability
Return on equity (12 months)24.2% · Top 25%
Return on assets15.7% · Top 25%
Net margin (12 months)12.4% · Top 25%
Operating margin (12 months)20.6% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)1.4% · Above median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Confectioners 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). "Excellence S.A Fair Value". https://www.fairvalue-calculator.com/stock/EXC.WAR
Frequently asked questions
Is Excellence S.A (EXC) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 0.7600 PLN versus a price of 0.4500 PLN, about +69% upside (undervalued).
What is the fair value of EXC?
Our model-based fair value for Excellence S.A is 0.7600 PLN (as of Nov 4, 2026), built from audited fundamentals. The current price: 0.4500 PLN.
What is the quality score of EXC?
Excellence S.A has a Quality Score of 68/100. 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 Excellence S.A (EXC)?
Our model-based price target is the fair value of 0.7600 PLN (as of Nov 4, 2026) from 23 valuation models. Cautious scenario 0.5000 PLN, optimistic scenario 1.08 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Excellence S.A stock forecast for 2026?
Our models put fair value at 0.7600 PLN, about +69% upside versus a price of 0.4500 PLN (undervalued). Cautious scenario 0.5000 PLN, optimistic scenario 1.08 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Excellence S.A (EXC)?
Excellence S.A reported trailing-twelve-month revenue of about 88.3M PLN (latest available figure, as of Nov 4, 2026).
What growth is priced into Excellence S.A (EXC)?
For today's price to be fair in a discounted-cash-flow model, Excellence S.A would have to grow free cash flow by +2.9 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +4.5 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of EXC use?
Our models discount Excellence S.A 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 Excellence S.A that is +2.9 % 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 Excellence S.A (EXC) delivered so far?
Over the past 3 years revenue at Excellence S.A grew +4.5 % a year. The price currently implies +2.9 % 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 Excellence S.A (EXC) growing?
The median revenue growth in the sector is +2.0 % a year. That is the yardstick for the growth priced into Excellence S.A (+2.9 % 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 Excellence S.A (EXC)?
The free-cash-flow yield on the price is 7.27 %: that much free cash flow Excellence S.A 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 Excellence S.A (EXC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Excellence S.A it is 0.7600 PLN per share (as of Nov 4, 2026), against a price of 0.4500 PLN. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Excellence S.A stock overvalued or undervalued in 2026?
As of Nov 4, 2026, EXC trades below its calculated fair value: price 0.4500 PLN, fair value 0.7600 PLN, a gap of about +69% (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 EXC?
No. The price is what the market pays today (0.4500 PLN); the fair value is what the company's own numbers justify (0.7600 PLN). For Excellence S.A the two are 0.3100 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Excellence S.A worth?
The market values Excellence S.A at about 71.0M PLN (market capitalisation, as of Nov 4, 2026). Per share that is 0.4500 PLN; our models calculate a fair value of 0.7600 PLN per share.
What do the bullish and bearish scenarios say about EXC?
Our models span a range for Excellence S.A: cautious scenario 0.5000 PLN, base 0.7600 PLN, optimistic 1.08 PLN per share (as of Nov 4, 2026, price 0.4500 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EXC?
Excellence S.A trades at a price-to-earnings ratio of 6.4 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 0.7600 PLN is built from several models across several years. Other multiples: P/B 1.8, P/S 0.8, EV/EBITDA 3.8.
How solid is the balance sheet of Excellence S.A (EXC)?
Balance-sheet figures for Excellence S.A (as of Nov 4, 2026): return on equity 24.2%, debt of 0.01 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is EXC from its 52-week high?
Excellence S.A trades at 0.4500 PLN, about 44% below its 52-week high of 0.8000 PLN and 60% above the low of 0.2820 PLN (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of 0.7600 PLN is for.
Which stocks are comparable to Excellence S.A?
From the same area (Consumer Defensive) we also value Mondelez International, Inc, The Hershey Company, Chocoladefabriken Lindt & Sprüngli AG, Barry Callebaut AG, 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 Excellence S.A stock attractive at the current price?
The data as of Nov 4, 2026: price 0.4500 PLN, calculated fair value 0.7600 PLN (+69%), Quality Score 68/100, from 23 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 EXC calculated?
We run Excellence S.A through 23 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 0.7600 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 15.0% above its aggregate fair value. Excellence S.A currently trades 41% 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 Excellence S.A (EXC)?
The closing price on Nov 4, 2026 was 0.4500 PLN. Our model-based fair value is 0.7600 PLN, about +69% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Excellence S.A right now?
The price is below even our cautious bear case (0.5000 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 (68/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (0.5000 PLN to 1.08 PLN) leaves room in how you read the outcome.
Key figures of Excellence S.A
How large is the market capitalisation of Excellence S.A (EXC)?
The market capitalisation of Excellence S.A is 71.0M PLN (≈ $18.2M). 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 Excellence S.A (EXC)?
The price-to-sales ratio of Excellence S.A is 0.80 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Excellence S.A (EXC)?
Earnings per share at Excellence S.A are 0.0700 PLN (price ÷ EPS = P/E 6.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Excellence S.A (EXC)?
The net margin of Excellence S.A is 12.4% (last twelve months). 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 Excellence S.A (EXC)?
The return on equity (ROE) of Excellence S.A is 24.2% (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 Excellence S.A (EXC)?
On an EBIT basis the return on assets of Excellence S.A is 19.9% (avg 4y). 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 Excellence S.A (EXC)?
The operating margin of Excellence S.A is 20.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Excellence S.A (EXC)?
Revenue at Excellence S.A is growing +1.4% versus a year earlier (3y avg +4.5%). 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 Excellence S.A (EXC)?
Earnings per share at Excellence S.A are growing +9.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Excellence S.A (EXC) carry?
The net debt of Excellence S.A is 1.1M PLN (fiscal year 2025, ≈ 0.2 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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