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IFirma SA (IFI) Fair Value & Analysis

Technology · PL · Market cap 159M PLN

IS IFirma SA IFI · WAR
Price25.60 PLN
Fair Value32.98 PLN
Upside+28.8%
Quality82/100
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Healthy Growth
Solidly profitable · 18.7% net margin
generates free cash flow
5.31% dividend yield
Ranks above peers (10/13)
Wide moat 79/100
Evidence: High Range 21.14 PLN – 41.13 PLN Share as image

Fair value as of: Jul 12, 2026

From 26 valuation models · updated 29 days ago

Share price +2.8% over the past month.

A strong business, screening 29% undervalued on our models.

What matters now

  • The rarer combination: high quality (82/100) AND below fair value. That earns a closer look rather than a quick verdict.
  • A fairly wide model range (21.14 PLN to 41.13 PLN) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

37.10 PLN 6.47 PLN Fair Value 32.98 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 6.47 PLN – 37.10 PLN · fair‑value band 21.14 PLN – 41.13 PLN · the 25.60 PLN price screens below the 32.98 PLN fair value. Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

IFirma SA (IFI) currently trades at 25.60 PLN, while our model-based Fair Value estimate is 32.98 PLN, implying the stock looks roughly 28.8% undervalued today. The Quality Score stands at 82/100 (high quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, IFirma SA generated revenue of 63.1M PLN at a net margin of 18.7%. Revenue declined 1.7% year over year. It earns a return on equity of 71.6%. The balance sheet holds a net cash position of 2.6M PLN. Fundamentals as of Jul 12, 2026

Our scenario range runs from 21.14 PLN (bear case) to 41.13 PLN (bull case); at 25.60 PLN, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 29% below its 52-week high and 6% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 29%, IFI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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
Highest evidence
Residual Income 7.37 PLN 8.95 PLN 35.61 PLN 76
Growth DCF 19.68 PLN 33.55 PLN 53.07 PLN 72
Gordon GGM 11.84 PLN 19.83 PLN 25.74 PLN 70
All 26 models by family
DCF Models
FCF DCF 20.50 PLN 32.08 PLN 58.43 PLN 38
Owner Earnings 21.89 PLN 39.73 PLN 69.07 PLN 31
5Y Revenue Exit 18.86 PLN 34.14 PLN 56.57 PLN 39
5Y EBITDA Exit 22.26 PLN 41.79 PLN 68.64 PLN 41
5Y P/E Exit 25.79 PLN 50.10 PLN 80.16 PLN 38
10Y Revenue Exit 18.64 PLN 32.83 PLN 54.62 PLN 36
10Y EBITDA Exit 21.14 PLN 37.93 PLN 66.23 PLN 37
10Y P/E Exit 23.23 PLN 43.22 PLN 75.28 PLN 35
Earnings-Based
Graham-Dodd 13.83 PLN 86.19 PLN 120.35 PLN 54
Lynch FV 24.80 PLN 35.43 PLN 46.06 PLN 50
PEG = 1.0 24.80 PLN 35.43 PLN 46.06 PLN 46
EPV 15.60 PLN 17.40 PLN 18.87 PLN 59
Dividend Discount
Gordon GGM 11.84 PLN 19.83 PLN 25.74 PLN 70
DDM Multi-Stage 11.84 PLN 18.81 PLN 21.34 PLN 61
Multiples
P/E Multiple 30.51 PLN 40.68 PLN 50.85 PLN 63
P/S Multiple 18.57 PLN 24.76 PLN 30.95 PLN 58
P/B Multiple 5.91 PLN 7.89 PLN 9.86 PLN 55
EV/EBIT 33.41 PLN 44.35 PLN 55.30 PLN 53
EV/EBITDA 25.00 PLN 33.15 PLN 41.29 PLN 54
EV/Revenue 17.90 PLN 25.33 PLN 32.76 PLN 43
Asset-Based
NCAV (Graham) 1.31 PLN 1.76 PLN 2.63 PLN 50
Growth DCF
Growth DCF 19.68 PLN 33.55 PLN 53.07 PLN 72
Rev-Margin DCF 18.86 PLN 33.80 PLN 55.09 PLN 67
Economic Profit
Residual Income 7.37 PLN 8.95 PLN 35.61 PLN 76
ROIC Compounder 16.63 PLN 19.68 PLN 22.85 PLN 67
Growth Earnings
Growth-Adj P/E 34.70 PLN 49.58 PLN 64.45 PLN 68

Widest divergence: Growth Earnings (49.58 PLN) versus Asset-Based (1.76 PLN). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 63.1M PLN
Revenue growth (YoY) -1.7%
Net margin 18.7%
Return on equity 71.6%
Free cash flow 12.1M PLN FY2025
P/E ratio 14.2
More key figures
Operating margin 17.5%
EPS (TTM) 1.85 PLN
Dividend yield 4.9%
EPS growth (YoY) -33.8%
Net cash 2.6M PLN FY2024

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 82/100

Of which business quality 80 · Market factors (momentum, volatility) 40

Profitability 97
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 87
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 20
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

IFirma SA provides accounting services. The company offers services and tools for tax settlements and supporting business activities. It also provides Outsourcing and recruitment of IT specialists, and IT services and IT solutions, as well as internet accounting and the invoicing program Faktura+.

Full company description

IFirma SA provides accounting services. The company offers services and tools for tax settlements and supporting business activities. It also provides Outsourcing and recruitment of IT specialists, and IT services and IT solutions, as well as internet accounting and the invoicing program Faktura+. In addition, the company offers accounting office, independent accounting, free invoice program, company registration, e-commerce integrator, and unregistered activity, as well as mobile application program. It serves programmers, freelancers, beauty industry, doctors, IT/startups, lawyers and legal advisors, e-commerce, and health sectors. The company was formerly known as Power Media S.A. and changed its name to Ifirma SA in June 2017. IFirma SA was founded in 1997 is based in Wroclaw, Poland.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

IFirma SA reported revenue of 63.4M PLN in FY2025 versus 33.5M PLN in FY2021, a compound +17.3%/yr. Reported net income was 13.0M PLN in FY2025, compounding +25.3%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
63.4M PLN
Latest YoY
+8.8%
Avg. growth/yr (3Y) 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.
+13.8%
Avg. growth/yr (5Y) 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.
+21.2%
Avg. growth/yr (15Y) 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.
+15.5%
Revenue +17.3%/yr
FY21 33.5M PLN
FY22 43.0M PLN
FY23 51.3M PLN
FY24 58.3M PLN
FY25 63.4M PLN
Net income +25.3%/yr
FY21 5.3M PLN
FY22 7.5M PLN
FY23 8.0M PLN
FY24 8.4M PLN
FY25 13.0M PLN
Character of growth · EPS growth decomposed (2013-2024) +32.8 % p.a.
Revenue per share +20.4 pp

of which total revenue +20.4 pp · buybacks/dilution +0.0 pp

EBIT margin +12.7 pp
Tax rate −1.5 pp
Residual (interest, one-offs) +1.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "IFirma SA Fair Value". https://www.fairvalue-calculator.com/stock/IFI

Peer Group

Information Technology Services · 475 stocks

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.

Quality Score 82 · Top 25%
Fair Value upside +29% · Above median
Return on equity (TTM) 72% · Top 25%
Return on assets 32% · Top 25%
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 18% · Top 25%
Revenue growth -2% · Below median
Dividend yield (TTM) 5.3% · Top 25%

Valuation Multiples vs Information Technology Services median · lower = cheaper

P/E (TTM) 13.5× · Cheaper than median
P/B 2.55× · Pricier than median
P/S (TTM) 0.68× · Cheaper than median
P/FCF 3.5× · Pricier than median
EV/EBITDA 2.7× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 72 · sector 21
FUTURE 0 · sector 31
PAST 100 · sector 37
HEALTH 0 · sector 97
DIVIDEND 100 · sector 37

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
International Business Machines Corporation IBM $235.92 $143.90 -39%
Accenture plc ACNN 2,460 MXN 250.95 MXN -90%
Infosys Limited INFY ₹1,156 ₹1,457 +26%
HCL Technologies Limited HCLTECH ₹1,204 ₹1,230 +2%
Wipro Limited WIPRO ₹178.43 ₹226.81 +27%
Tech Mahindra Limited TECHM ₹1,455 ₹1,086 -25%
Samsung SDS Co 018260 199,300 KRW 196,390 KRW -1%
Persistent Systems Limited PERSISTENT ₹5,059 ₹2,364 -53%
Hyundai Autoever Corporation 307950 393,000 KRW 133,088 KRW -66%
Coforge Limited COFORGE ₹1,541 ₹702.84 -54%

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Frequently asked questions

Is IFirma SA (IFI) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 32.98 PLN versus a price of 25.60 PLN, about +29% (undervalued).
What is the fair value of IFI?
Our model-based fair value for IFirma SA is 32.98 PLN (as of Jul 12, 2026), built from audited fundamentals. The current price is 25.60 PLN.
What is the quality score of IFI?
IFirma SA has a Quality Score of 82/100. 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 revenue of IFirma SA (IFI)?
IFirma SA reported trailing-twelve-month revenue of about 63.1M PLN (latest available figure, as of Jul 12, 2026).
What is the net profit margin of IFI?
The net profit margin of IFirma SA is about 18.7%, meaning it keeps roughly 18.7% of revenue as net income. Based on the latest reported figures.
Does IFirma SA pay a dividend?
IFirma SA currently shows a dividend yield of about 4.87% relative to its recent price (as of Jul 12, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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