Fabryki Mebli Forte S.A. (FTE) fair value: what the stock is really worth
We calculate from audited financials what Fabryki Mebli Forte S.A. is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 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 13, 2026.
How to read this chart
60‑month range 15.30 PLN – 55.68 PLN · fair‑value band 22.73 PLN – 25.50 PLN · the 15.70 PLN price screens below the 22.73 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
Fabryki Mebli FORTE S.A. designs, manufactures, and exports furniture worldwide. It offers furniture for living room, dining room, bedroom, children's room, hallway, and study. The company was founded in 1992 and is based in Ostrow Mazowiecka, Poland.
Stock analysis
Fabryki Mebli Forte S.A. (FTE) currently trades at 15.70 PLN, while our model-based Fair Value estimate is 22.73 PLN, implying the stock looks roughly 30.9% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 34.30 PLN per share, and 20 of the 24 models we run sit above the 15.70 PLN price.
Bear case: the Earnings-Based group reads lowest at 4.85 PLN, and 4 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 22.73 PLN (bear) to 25.50 PLN (bull), the price of 15.70 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 62/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Fabryki Mebli Forte S.A. reported revenue of 1.2B PLN in FY2025 versus 1.3B PLN in FY2021, a compound −2.3%/yr. Reported net income was 22.2M PLN in FY2025, compounding −33.1%/yr from FY2021.
Key figures
Market cap 416M PLN (≈ $110M) · P/E ratio 4.6 · P/S ratio 0.08 · EPS (TTM) 3.40 PLN · Net margin 1.8% · Return on equity 8.8% · Return on assets (EBIT) 4.8% · Operating margin 3.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 52% below its 52-week high, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −7% fair-value upside, at 45%, FTE screens cheaper than that median.
Fair Value models
Bear 22.73 PLNFair Value 22.73 PLNBull 25.50 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 (0.6752 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
+9.8%
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.
−1.7%
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.
+0.8%
Revenue growth 20 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.
+5.6%
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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.
−20.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−20.0%
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.−15% vs −13%, 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.12% → 4%
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).
−5.8%
Yearly growth needed for the next five years to justify today's price.
Compare Fabryki Mebli Forte 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.Furnishings, Fixtures & Appliances · 315 stocks
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). "Fabryki Mebli Forte S.A. Fair Value". https://www.fairvalue-calculator.com/stock/FTE
Frequently asked questions
Is Fabryki Mebli Forte S.A. (FTE) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of 22.73 PLN versus a price of 15.70 PLN, about +45% upside (undervalued).
What is the fair value of FTE?
Our model-based fair value for Fabryki Mebli Forte S.A. is 22.73 PLN (as of Sep 13, 2026), built from audited fundamentals. The current price: 15.70 PLN.
What is the quality score of FTE?
Fabryki Mebli Forte S.A. has a Quality Score of 62/100. 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 Fabryki Mebli Forte S.A. (FTE)?
Our model-based price target is the fair value of 22.73 PLN (as of Sep 13, 2026) from 24 valuation models. Cautious scenario 22.73 PLN, optimistic scenario 25.50 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Fabryki Mebli Forte S.A. stock forecast for 2026?
Our models put fair value at 22.73 PLN, about +45% upside versus a price of 15.70 PLN (undervalued). Cautious scenario 22.73 PLN, optimistic scenario 25.50 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Fabryki Mebli Forte S.A. (FTE)?
Fabryki Mebli Forte S.A. reported trailing-twelve-month revenue of about 1.2B PLN (latest available figure, as of Sep 13, 2026).
What growth is priced into Fabryki Mebli Forte S.A. (FTE)?
For today's price to be fair in a discounted-cash-flow model, Fabryki Mebli Forte S.A. would have to grow free cash flow by -5.8 % per year for five years (discount rate 12.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +0.8 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of FTE use?
Our models discount Fabryki Mebli Forte S.A. at 12.1 %: a base by market capitalisation (micro), damped by beta 0.56, 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 Fabryki Mebli Forte S.A. that is -5.8 % per year a year over ten years, using the same discount rate (12.1 %) and the same formula as our fair value.
How much growth has Fabryki Mebli Forte S.A. (FTE) delivered so far?
Over the past 5 years revenue at Fabryki Mebli Forte S.A. grew +0.8 % a year. The price currently implies -5.8 % 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 Fabryki Mebli Forte S.A. (FTE) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Fabryki Mebli Forte S.A. (-5.8 % 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 Fabryki Mebli Forte S.A. (FTE)?
The free-cash-flow yield on the price is 20.43 %: that much free cash flow Fabryki Mebli Forte S.A. produces per unit of market value. When it exceeds the discount rate of our models (12.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Fabryki Mebli Forte S.A. (FTE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Fabryki Mebli Forte S.A. it is 22.73 PLN per share (as of Sep 13, 2026), against a price of 15.70 PLN. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Fabryki Mebli Forte S.A. stock overvalued or undervalued in 2026?
As of Sep 13, 2026, FTE trades below its calculated fair value: price 15.70 PLN, fair value 22.73 PLN, a gap of about +45% (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 FTE?
No. The price is what the market pays today (15.70 PLN); the fair value is what the company's own numbers justify (22.73 PLN). For Fabryki Mebli Forte S.A. the two are 7.03 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Fabryki Mebli Forte S.A. worth?
The market values Fabryki Mebli Forte S.A. at about 416M PLN (market capitalisation, as of Sep 13, 2026). Per share that is 15.70 PLN; our models calculate a fair value of 22.73 PLN per share.
What do the bullish and bearish scenarios say about FTE?
Our models span a range for Fabryki Mebli Forte S.A.: cautious scenario 22.73 PLN, base 22.73 PLN, optimistic 25.50 PLN per share (as of Sep 13, 2026, price 15.70 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FTE?
Fabryki Mebli Forte S.A. trades at a price-to-earnings ratio of 4.6 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 22.73 PLN is built from several models across several years. Other multiples: P/B 0.5, P/S 0.4, EV/EBITDA 2.6.
How solid is the balance sheet of Fabryki Mebli Forte S.A. (FTE)?
Balance-sheet figures for Fabryki Mebli Forte S.A. (as of Sep 13, 2026): return on equity 8.8%, debt of 0.00 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is FTE from its 52-week high?
Fabryki Mebli Forte S.A. trades at 15.70 PLN, about 52% below its 52-week high of 32.90 PLN (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of 22.73 PLN is for.
Which stocks are comparable to Fabryki Mebli Forte S.A.?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, Haier Smart Home Co, King Slide Works Co, 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 Fabryki Mebli Forte S.A. stock attractive at the current price?
The data as of Sep 13, 2026: price 15.70 PLN, calculated fair value 22.73 PLN (+45%), Quality Score 62/100, 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 FTE calculated?
We run Fabryki Mebli Forte 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 22.73 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 16.1 % above its aggregate fair value. Fabryki Mebli Forte S.A. currently trades 45 % 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 Fabryki Mebli Forte S.A. (FTE)?
The closing price on Sep 21, 2026 was 15.70 PLN. Our model-based fair value is 22.73 PLN, about +45% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Fabryki Mebli Forte S.A. right now?
The price is below even our cautious bear case (22.73 PLN). The market is more pessimistic than our downside scenario. Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality. The models converge in a tight band (22.73 PLN to 25.50 PLN), unusually little disagreement for a valuation.
Where does the earnings growth of Fabryki Mebli Forte S.A. (FTE) come from?
Earnings per share at Fabryki Mebli Forte S.A. grew −9.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.0 %, EBIT margin −8.4 %, tax rate −1.6 %, residual (interest, one-offs) −1.3 %. 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 Fabryki Mebli Forte S.A.
How large is the market capitalisation of Fabryki Mebli Forte S.A. (FTE)?
The market capitalisation of Fabryki Mebli Forte S.A. is 416M PLN (≈ $110M). 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 Fabryki Mebli Forte S.A. (FTE)?
The price-to-sales ratio of Fabryki Mebli Forte S.A. is 0.08 (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 Fabryki Mebli Forte S.A. (FTE)?
Earnings per share at Fabryki Mebli Forte S.A. are 3.40 PLN (price ÷ EPS = P/E 4.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Fabryki Mebli Forte S.A. (FTE)?
The net margin of Fabryki Mebli Forte S.A. is 1.8% (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 Fabryki Mebli Forte S.A. (FTE)?
The return on equity (ROE) of Fabryki Mebli Forte S.A. is 8.8% (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 Fabryki Mebli Forte S.A. (FTE)?
On an EBIT basis the return on assets of Fabryki Mebli Forte S.A. is 4.8% (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 Fabryki Mebli Forte S.A. (FTE)?
The operating margin of Fabryki Mebli Forte S.A. is 3.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Fabryki Mebli Forte S.A. (FTE)?
Revenue at Fabryki Mebli Forte S.A. is growing +5.0% versus a year earlier (3y avg −1.7%). 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 Fabryki Mebli Forte S.A. (FTE)?
Earnings per share at Fabryki Mebli Forte S.A. are growing −59.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Fabryki Mebli Forte S.A. (FTE) carry?
The net debt of Fabryki Mebli Forte S.A. is 180M PLN (fiscal year 2025, ≈ 2.4 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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