FASING SA (FSG) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of FASING SA PLN 43.20, price PLN 14.40, upside +200.0%, quality 45 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 24, 2026.
How to read this chart
60‑month range 10.20 PLN – 16.43 PLN · fair‑value band 28.02 PLN – 54.00 PLN · the 14.40 PLN price screens below the 43.20 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Fabryki Sprzetu i Narzedzi Górniczych Grupa Kapitalowa FASING S.A. produces and sells chains for the mining, fishing, energy, sugar, cement, and wood industries worldwide.
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Fabryki Sprzetu i Narzedzi Górniczych Grupa Kapitalowa FASING S.A. produces and sells chains for the mining, fishing, energy, sugar, cement, and wood industries worldwide. The company provides round mining link chains, flat mining link chains, chain routes, scrapers, cards, locks, and clamps, hoist chains, connector links, abrasion-resistant round chains, technical chains and accessories, fishing chains, and sling chains with short links. It also offers die forgings and forging tools, clutches, drills, anchors, hydraulic units, stands and others. The company exports its products to China, the United States, Australia, Russia, Germany, Sweden, Kazakhstan, Ukraine, and Belarus. Fabryki Sprzetu i Narzedzi Górniczych Grupa Kapitalowa FASING S.A. was founded in 1925 and is headquartered in Katowice, Poland. Fabryki Sprzetu i Narzedzi Górniczych Grupa Kapitalowa FASING S.A. is a subsidiary of Karbon 2 Sp. z o.o.
Stock analysis
FASING SA (FSG) currently trades at 14.40 PLN, while our model-based Fair Value estimate is 43.20 PLN, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 103.82 PLN per share, and 15 of the 17 models we run sit above the 14.40 PLN price.
Bear case: the Dividend Discount group reads lowest at 4.50 PLN, and 2 of the 17 models stay below the price. Evidence for this calculation is medium.
Scenario range: 28.02 PLN (bear) to 54.00 PLN (bull), the price of 14.40 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 45/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
FASING SA reported revenue of 292M PLN in FY2025 versus 204M PLN in FY2021, a compound +9.5%/yr. Reported net income was 7.4M PLN in FY2025, compounding +11.7%/yr from FY2021.
Key figures
Market cap 44.7M PLN (≈ $11.6M) · P/E ratio 5.8 · P/S ratio 0.15 · EPS (TTM) 2.49 PLN · Dividend yield 3.5% · Net margin 2.5% · Return on equity 4.0% · Return on assets (EBIT) 7.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 23% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −36% fair-value upside, at 200%, FSG screens cheaper than that median.
Fair Value models
Bear 28.02 PLNFair Value 43.20 PLNBull 54.00 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 (1.46 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.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+9.5%
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.
+5.4%
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.
+13.8%
Start year 2020 (pandemic). Over 10 years: +1.3% a year
Revenue growth 17 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.
+7.2%
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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. Basis: EBIT basis.
+13.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.8%
Dividend (yield on the price)3.5%
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.−3% vs −1%, 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.10% → 10%
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.Metal Fabrication · 264 stocks
Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score45 · Below median
Profitability
Return on equity (TTM)4% · Below median
Return on assets4% · Above median
Net margin (TTM)3% · Below median
Operating margin (TTM)0% · Bottom 25%
Growth and dividend
Revenue growth−1% · Below median
Dividend yield (TTM)3.5% · Top 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Metal Fabrication median · lower = cheaper
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Cite: Fair Value Calculator (2026). "FASING SA Fair Value". https://www.fairvalue-calculator.com/stock/FSG
Frequently asked questions
Is FASING SA (FSG) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 43.20 PLN versus a price of 14.40 PLN, about +200% upside (undervalued).
What is the fair value of FSG?
Our model-based fair value for FASING SA is 43.20 PLN (as of Sep 24, 2026), built from audited fundamentals. The current price: 14.40 PLN.
What is the quality score of FSG?
FASING SA has a Quality Score of 45/100. 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 FASING SA (FSG)?
Our model-based price target is the fair value of 43.20 PLN (as of Sep 24, 2026) from 17 valuation models. Cautious scenario 28.02 PLN, optimistic scenario 54.00 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the FASING SA stock forecast for 2026?
Our models put fair value at 43.20 PLN, about +200% upside versus a price of 14.40 PLN (undervalued). Cautious scenario 28.02 PLN, optimistic scenario 54.00 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of FASING SA (FSG)?
FASING SA reported trailing-twelve-month revenue of about 292M PLN (latest available figure, as of Sep 24, 2026).
Does FASING SA pay a dividend?
FASING SA currently shows a dividend yield of about 3.47% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of FASING SA (FSG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FASING SA it is 43.20 PLN per share (as of Sep 24, 2026), against a price of 14.40 PLN. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is FASING SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, FSG trades below its calculated fair value: price 14.40 PLN, fair value 43.20 PLN, a gap of about +200% (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 FSG?
No. The price is what the market pays today (14.40 PLN); the fair value is what the company's own numbers justify (43.20 PLN). For FASING SA the two are 28.80 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is FASING SA worth?
The market values FASING SA at about 44.7M PLN (market capitalisation, as of Sep 24, 2026). Per share that is 14.40 PLN; our models calculate a fair value of 43.20 PLN per share.
What do the bullish and bearish scenarios say about FSG?
Our models span a range for FASING SA: cautious scenario 28.02 PLN, base 43.20 PLN, optimistic 54.00 PLN per share (as of Sep 24, 2026, price 14.40 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FSG?
FASING SA trades at a price-to-earnings ratio of 5.8 (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 43.20 PLN is built from several models across several years. Other multiples: P/B 0.1, P/S 0.0.
How solid is the balance sheet of FASING SA (FSG)?
Balance-sheet figures for FASING SA (as of Sep 24, 2026): return on equity 4.0%, debt of 0.02 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is FSG from its 52-week high?
FASING SA trades at 14.40 PLN, about 9% below its 52-week high of 15.74 PLN and 23% above the low of 11.69 PLN (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 43.20 PLN is for.
Which stocks are comparable to FASING SA?
From the same area (Industrials) we also value Carpenter Technology Corporation, ATI Inc, Mueller Industries, Inc, Aurubis 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 FASING SA stock attractive at the current price?
The data as of Sep 24, 2026: price 14.40 PLN, calculated fair value 43.20 PLN (+200%), Quality Score 45/100, from 17 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 FSG calculated?
We run FASING SA through 17 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 43.20 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. FASING SA currently trades 200 % 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 FASING SA (FSG)?
The closing price on Sep 23, 2026 was 14.40 PLN. Our model-based fair value is 43.20 PLN, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FASING SA right now?
The price is below even our cautious bear case (28.02 PLN). The market is more pessimistic than our downside scenario. Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (28.02 PLN to 54.00 PLN) leaves room in how you read the outcome.
Where does the earnings growth of FASING SA (FSG) come from?
Earnings per share at FASING SA grew +7.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.3 %, EBIT margin +5.6 %, tax rate +2.0 %, residual (interest, one-offs) −3.5 %. 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 FASING SA
How large is the market capitalisation of FASING SA (FSG)?
The market capitalisation of FASING SA is 44.7M PLN (≈ $11.6M). 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 FASING SA (FSG)?
The price-to-sales ratio of FASING SA is 0.15 (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 FASING SA (FSG)?
Earnings per share at FASING SA are 2.49 PLN (price ÷ EPS = P/E 5.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of FASING SA (FSG)?
The dividend yield of FASING SA is 3.5% (payout 20.1%). 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 FASING SA (FSG)?
The net margin of FASING SA is 2.5% (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 FASING SA (FSG)?
The return on equity (ROE) of FASING SA is 4.0% (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 FASING SA (FSG)?
On an EBIT basis the return on assets of FASING SA is 7.7% (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 FASING SA (FSG)?
The operating margin of FASING SA is 0.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FASING SA (FSG)?
Revenue at FASING SA is growing −0.7% versus a year earlier (3y avg +5.4%). 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 FASING SA (FSG)?
Earnings per share at FASING SA are growing −44.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does FASING SA (FSG) generate?
The free cash flow of FASING SA is −5.0M PLN (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does FASING SA (FSG) carry?
The net debt of FASING SA is 65.1M PLN (fiscal year 2025). 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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