Herkules S.A. (HRS) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of Herkules S.A. stock PLN 3.63, price PLN 1.65, upside +120.0%, quality 62 out of 100. Rating: strongly undervalued. Calculated from audited financials with 19 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 0.5637 PLN – 2.30 PLN · fair‑value band 2.72 PLN – 4.94 PLN · the 1.65 PLN price screens below the 3.63 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Herkules S.A. engages in the hoisting equipment rental and oversize load shipping activities in Poland. The company rents tower, self-propelled, cravler, and tracked cranes.
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It also provides services related to the construction of finished buildings; undertakes construction of cable lines and overhead power lines, optical fiber cable runs, power substations, and electrical installations; and installs guaranteed power supplies, such as power generators and UPS systems.
In addition, the company offers construction services for the telecommunication sector and wind farms; and manufactures pretensioned concrete and reinforced concrete rings. The company was formerly known as Gastel Zurawie S.A. and changed its name to Herkules S.A. in December 2011.
Herkules S.A. was incorporated in 2006 and is headquartered in Warsaw, Poland.
Stock analysis
Herkules S.A. (HRS) currently trades at 1.65 PLN, while our model-based Fair Value estimate is 3.63 PLN, implying the stock looks roughly 55% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 13.97 PLN per share, and 18 of the 19 models we run sit above the 1.65 PLN price.
Bear case: the Asset-Based group reads lowest at 2.05 PLN, and 1 of the 19 models stay below the price. Data coverage for this calculation is low.
Scenario range: 2.72 PLN (bear) to 4.94 PLN (bull), the price of 1.65 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 Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Herkules S.A. reported revenue of 104M PLN in FY2025 versus 164M PLN in FY2021, a compound −10.8%/yr. Reported net income was 30.0M PLN in FY2025, compounding +160.1%/yr from FY2021.
Key figures
Market cap 56.3M PLN (≈ $14.4M) Micro · P/E ratio 1.7 · P/S ratio 0.50 · EPS (TTM) 0.9900 PLN · Net margin 30.9% · Return on equity 34.4% · Return on assets (EBIT) 0.0% (5-year average) · Operating margin 1.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 65 out of 100 (low confidence).
What moves the price
The share trades about 28% 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 −15% fair-value upside, at 120%, HRS screens cheaper than that median.
Fair Value models
Bear2.72 PLNFair Value 3.63 PLNBull4.94 PLN
Price 1.65 PLN · Upside +120.0%
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 (0.8490 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.36/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−4.0%
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.
−12.9%
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.
−7.2%
Start year 2020 (pandemic). Over 10 years: −4.0% 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.
+5.8%
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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.
≈ +64.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year≈ +64.8%
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.base effect: 64.8% / 14.0%
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.7% → −8%
⚠ Base effect: the rate starts in the earnings trough around 2020 (starting value 0.072 per share, median 0.20 in 2015 to 2018). It measures the recovery from the trough, not lasting growth.
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).
−5.9%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −8.8% 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.Rental & Leasing Services · 85 stocks
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Cite: Fair Value Calculator (2026). "Herkules S.A. Fair Value". https://www.fairvalue-calculator.com/stock/HRS
Frequently asked questions
Is Herkules S.A. (HRS) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 3.63 PLN versus a price of 1.65 PLN, about +120% upside (undervalued).
What is the fair value of HRS?
Our model-based fair value for Herkules S.A. is 3.63 PLN (as of Nov 8, 2026), built from audited fundamentals. The current price: 1.65 PLN.
What is the quality score of HRS?
Herkules 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 Herkules S.A. (HRS)?
Our model-based price target is the fair value of 3.63 PLN (as of Nov 8, 2026) from 19 valuation models. Cautious scenario 2.72 PLN, optimistic scenario 4.94 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Herkules S.A. stock forecast for 2026?
Our models put fair value at 3.63 PLN, about +120% upside versus a price of 1.65 PLN (undervalued). Cautious scenario 2.72 PLN, optimistic scenario 4.94 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Herkules S.A. (HRS)?
Herkules S.A. reported trailing-twelve-month revenue of about 109M PLN (latest available figure, as of Nov 8, 2026).
What growth is priced into Herkules S.A. (HRS)?
For today's price to be fair in a discounted-cash-flow model, Herkules S.A. would have to grow free cash flow by -5.9 % per year for five years (discount rate 10.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -7.2 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of HRS use?
Our models discount Herkules S.A. at 10.7 %: a base by market capitalisation (nano), damped by beta 1.02, 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 Herkules S.A. that is -5.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.7 %) and the same formula as our fair value.
How much growth has Herkules S.A. (HRS) delivered so far?
Over the past 5 years revenue at Herkules S.A. grew -7.2 % a year. The price currently implies free-cash-flow growth of -5.9 % per 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 Herkules S.A. (HRS) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Herkules S.A. (-5.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Herkules S.A. (HRS)?
The free-cash-flow yield on the price is 11.28 %: that much free cash flow Herkules S.A. produces per unit of market value. When it exceeds the discount rate of our models (10.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Herkules S.A. (HRS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Herkules S.A. it is 3.63 PLN per share (as of Nov 8, 2026), against a price of 1.65 PLN. It is the blended result of 19 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Herkules S.A. stock overvalued or undervalued in 2026?
As of Nov 8, 2026, HRS trades below its calculated fair value: price 1.65 PLN, fair value 3.63 PLN, a gap of about +120% (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 HRS?
No. The price is what the market pays today (1.65 PLN); the fair value is what the company's own numbers justify (3.63 PLN). For Herkules S.A. the two are 1.98 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Herkules S.A. worth?
The market values Herkules S.A. at about 56.3M PLN (market capitalisation, as of Nov 8, 2026). Per share that is 1.65 PLN; our models calculate a fair value of 3.63 PLN per share.
What do the bullish and bearish scenarios say about HRS?
Our models span a range for Herkules S.A.: cautious scenario 2.72 PLN, base 3.63 PLN, optimistic 4.94 PLN per share (as of Nov 8, 2026, price 1.65 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HRS?
Herkules S.A. trades at a price-to-earnings ratio of 1.7 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3.63 PLN is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2016 to 2025), reported earnings: 15.2. Other multiples: P/B 0.5, P/S 0.5, EV/EBITDA 1.1.
How solid is the balance sheet of Herkules S.A. (HRS)?
Balance-sheet figures for Herkules S.A. (as of Nov 8, 2026): return on equity 34.4%, debt of 0.04 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is HRS from its 52-week high?
Herkules S.A. trades at 1.65 PLN, about 28% below its 52-week high of 2.30 PLN and 49% above the low of 1.11 PLN (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of 3.63 PLN is for.
Which stocks are comparable to Herkules S.A.?
From the same area (Industrials) we also value United Rentals, Inc, Sunbelt Rentals Holdings, AerCap Holdings, U-Haul 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 Herkules S.A. stock attractive at the current price?
The data as of Nov 8, 2026: price 1.65 PLN, calculated fair value 3.63 PLN (+120%), Quality Score 62/100, from 19 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 HRS calculated?
We run Herkules S.A. through 19 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 3.63 PLN builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Herkules 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 Herkules S.A. (HRS)?
The closing price on Nov 9, 2026 was 1.65 PLN. Our model-based fair value is 3.63 PLN, about +120% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Herkules S.A. right now?
The price is below even our cautious bear case (2.72 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 (62/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (2.72 PLN to 4.94 PLN) leaves room in how you read the outcome.
Key figures of Herkules S.A.
How large is the market capitalisation of Herkules S.A. (HRS)?
The market capitalisation of Herkules S.A. is 56.3M PLN (≈ $14.4M). 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 Herkules S.A. (HRS)?
The price-to-sales ratio of Herkules S.A. is 0.50 (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 Herkules S.A. (HRS)?
Earnings per share at Herkules S.A. are 0.9900 PLN (price ÷ EPS = P/E 1.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Herkules S.A. (HRS)?
The net margin of Herkules S.A. is 30.9% (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 Herkules S.A. (HRS)?
The return on equity (ROE) of Herkules S.A. is 34.4% (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 Herkules S.A. (HRS)?
On an EBIT basis the return on assets of Herkules S.A. is 0.0% (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 Herkules S.A. (HRS)?
The operating margin of Herkules S.A. is 1.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Herkules S.A. (HRS)?
Revenue at Herkules S.A. is growing +25.1% versus a year earlier (3y avg −12.9%). 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 Herkules S.A. (HRS)?
Earnings per share at Herkules S.A. are growing +26.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Herkules S.A. (HRS) carry?
The net debt of Herkules S.A. is 18.2M PLN (fiscal year 2025, ≈ 2.9 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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Thin data
Nov 8, 2026