Feerum S.A. (FEE) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Feerum S.A. PLN 26.96, price PLN 17.40, upside +54.9%, quality 77 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Feerum S.A. engages in the production, sale, and assembly of grain dryers, silos, and other equipment for agricultural production storage and drying complexes.
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Feerum S.A. engages in the production, sale, and assembly of grain dryers, silos, and other equipment for agricultural production storage and drying complexes. The company offers general contracting, professional support, and consulting services; flat-bottomed, hopper-bottomed, hopper-bottomed with internal basket and open funnel, forwarding, square, non-standard, with assimmetric cone, with sided discharge, with flat metal sheet lining, and grain cooler silos; and continuous flow, SG, FTD, and batch flow dryers. It also provides air separators; cleaners, including control panel with inverter, aspiration of the sieve drum, cyclone, fan, and air channels; automatics; bucket elevators, straight chain conveyors, belt conveyors, screw conveyors, silo screw auger, supporting structure, as well as arched, diagonal, z-type chain conveyors; and sheds, and halls and warehouses. In addition, the company offers electric, pneumatic, and manual distributors; pipes, elbows, reductions, symmetrical, and asymmetrical three-way distribution valves and cross-pieces; swivel rings; vertical and angled brakes; electric, pneumatic, and manual bars; rotary valve separators; percentage selectors; and performance regulators. It offers its products for grain drying, vertical and horizontal transport, cooling systems, automatic control of the process of reception, and drying and storing grain. The company operates in Poland, Ukraine, Lithuania, Romania, Hungary, and internationally. The company was founded in 2002 and is headquartered in Chojnów, Poland. Feerum S.A. is a subsidiary of Danmag Sp. z o.o.
Stock analysis
Feerum S.A. (FEE) currently trades at 17.40 PLN, while our model-based Fair Value estimate is 26.96 PLN, implying the stock looks roughly 35.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 43.06 PLN per share, and 22 of the 24 models we run sit above the 17.40 PLN price.
Bear case: the Asset-Based group reads lowest at 8.83 PLN, and 2 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 20.22 PLN (bear) to 34.94 PLN (bull), the price of 17.40 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 77/100 (high quality), in the Industrials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Feerum S.A. reported revenue of 125M PLN in FY2025 versus 132M PLN in FY2021, a compound −1.3%/yr. Reported net income was 12.2M PLN in FY2025, compounding +27.7%/yr from FY2021.
Key figures
Market cap 166M PLN (≈ $43.2M) · P/E ratio 11.7 · P/S ratio 1.14 · EPS (TTM) 1.49 PLN · Net margin 9.8% · Return on equity 11.7% · Return on assets (EBIT) 3.5% · Operating margin 9.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 1% below its 52-week high and 49% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 16% fair-value upside, at 55%, FEE screens cheaper than that median.
Fair Value models
Bear 20.22 PLNFair Value 26.96 PLNBull 34.94 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 (1.09 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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+66.0%
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.
+18.2%
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.
+1.2%
Start year 2020 (pandemic). Over 10 years: +1.4% a year
Revenue growth 13 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.
+6.4%
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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.
+0.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.1%
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.0% vs 4%, slowing
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.−5% → 12%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 2.7%/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.
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).
−10.1%
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 −12.8% 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.Farm & Heavy Construction Machinery · 154 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score77 · Top 25%
Fair Value upside+55% · Top 25%
Profitability
Return on equity (TTM)12% · Above median
Return on assets6% · Top 25%
Net margin (TTM)11% · Top 25%
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth37% · Top 25%
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Farm & Heavy Construction Machinery median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Feerum S.A. Fair Value". https://www.fairvalue-calculator.com/stock/FEE
Frequently asked questions
Is Feerum S.A. (FEE) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 26.96 PLN versus a price of 17.40 PLN, about +55% upside (undervalued).
What is the fair value of FEE?
Our model-based fair value for Feerum S.A. is 26.96 PLN (as of Sep 24, 2026), built from audited fundamentals. The current price: 17.40 PLN.
What is the quality score of FEE?
Feerum S.A. has a Quality Score of 77/100. 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 Feerum S.A. (FEE)?
Our model-based price target is the fair value of 26.96 PLN (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 20.22 PLN, optimistic scenario 34.94 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Feerum S.A. stock forecast for 2026?
Our models put fair value at 26.96 PLN, about +55% upside versus a price of 17.40 PLN (undervalued). Cautious scenario 20.22 PLN, optimistic scenario 34.94 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Feerum S.A. (FEE)?
Feerum S.A. reported trailing-twelve-month revenue of about 135M PLN (latest available figure, as of Sep 24, 2026).
What growth is priced into Feerum S.A. (FEE)?
For today's price to be fair in a discounted-cash-flow model, Feerum S.A. would have to grow free cash flow by -10.1 % per year for five years (discount rate 10.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of FEE use?
Our models discount Feerum S.A. at 10.0 %: a base by market capitalisation (nano), damped by beta 0.76, 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 Feerum S.A. that is -10.1 % per year a year over ten years, using the same discount rate (10.0 %) and the same formula as our fair value.
How much growth has Feerum S.A. (FEE) delivered so far?
Over the past 5 years revenue at Feerum S.A. grew +1.2 % a year. The price currently implies -10.1 % 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 Feerum S.A. (FEE) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Feerum S.A. (-10.1 % 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 Feerum S.A. (FEE)?
The free-cash-flow yield on the price is 14.85 %: that much free cash flow Feerum S.A. produces per unit of market value. When it exceeds the discount rate of our models (10.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Feerum S.A. (FEE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Feerum S.A. it is 26.96 PLN per share (as of Sep 24, 2026), against a price of 17.40 PLN. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Feerum S.A. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, FEE trades below its calculated fair value: price 17.40 PLN, fair value 26.96 PLN, a gap of about +55% (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 FEE?
No. The price is what the market pays today (17.40 PLN); the fair value is what the company's own numbers justify (26.96 PLN). For Feerum S.A. the two are 9.56 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Feerum S.A. worth?
The market values Feerum S.A. at about 166M PLN (market capitalisation, as of Sep 24, 2026). Per share that is 17.40 PLN; our models calculate a fair value of 26.96 PLN per share.
What do the bullish and bearish scenarios say about FEE?
Our models span a range for Feerum S.A.: cautious scenario 20.22 PLN, base 26.96 PLN, optimistic 34.94 PLN per share (as of Sep 24, 2026, price 17.40 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FEE?
Feerum S.A. trades at a price-to-earnings ratio of 11.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 26.96 PLN is built from several models across several years. Other multiples: P/B 0.3, P/S 0.3, EV/EBITDA 1.0.
How solid is the balance sheet of Feerum S.A. (FEE)?
Balance-sheet figures for Feerum S.A. (as of Sep 24, 2026): return on equity 11.7%. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is FEE from its 52-week high?
Feerum S.A. trades at 17.40 PLN, about 1% below its 52-week high of 17.50 PLN and 49% above the low of 11.66 PLN (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 26.96 PLN is for.
Which stocks are comparable to Feerum S.A.?
From the same area (Industrials) we also value Caterpillar Inc, Deere & Company, PACCAR Inc, Daimler Truck Holding, 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 Feerum S.A. stock attractive at the current price?
The data as of Sep 24, 2026: price 17.40 PLN, calculated fair value 26.96 PLN (+55%), Quality Score 77/100, from 24 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 FEE calculated?
We run Feerum S.A. through 24 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 26.96 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 14.1 % above its aggregate fair value. Feerum S.A. currently trades 55 % 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 Feerum S.A. (FEE)?
The closing price on Sep 23, 2026 was 17.40 PLN. Our model-based fair value is 26.96 PLN, about +55% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Feerum S.A. right now?
The rarer combination: high quality (77/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (20.22 PLN). The market is more pessimistic than our downside scenario.
Key figures of Feerum S.A.
How large is the market capitalisation of Feerum S.A. (FEE)?
The market capitalisation of Feerum S.A. is 166M PLN (≈ $43.2M). 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 Feerum S.A. (FEE)?
The price-to-sales ratio of Feerum S.A. is 1.14 (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 Feerum S.A. (FEE)?
Earnings per share at Feerum S.A. are 1.49 PLN (price ÷ EPS = P/E 11.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Feerum S.A. (FEE)?
The net margin of Feerum S.A. is 9.8% (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 Feerum S.A. (FEE)?
The return on equity (ROE) of Feerum S.A. is 11.7% (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 Feerum S.A. (FEE)?
On an EBIT basis the return on assets of Feerum S.A. is 3.5% (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 Feerum S.A. (FEE)?
The operating margin of Feerum S.A. is 9.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Feerum S.A. (FEE)?
Revenue at Feerum S.A. is growing +37.4% versus a year earlier (3y avg +18.2%). 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 Feerum S.A. (FEE)?
Earnings per share at Feerum S.A. are growing +154% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Feerum S.A. (FEE) carry?
The net debt of Feerum S.A. is 2.5M PLN (fiscal year 2024, ≈ 0.1 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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