EN DE

Instal Kraków S.A (INK) Fair Value & Analysis

Industrials · PL · Market cap 297M PLN

IK Instal Kraków S.A INK · WAR
Price39.30 PLN
Fair Value15.30 PLN
Upside-61.1%
Quality62/100
Watch Instal Kraków S.A for free, get notified when fair value or trend changes. Watch for free
Mixed Growth
Solidly profitable · 13.0% net margin
Low debt · negative free cash flow
Ranks above peers (10/13)
Moderate moat 58/100
Evidence: Medium Range 13.51 PLN – 24.61 PLN Share as image

Fair value as of: Jul 12, 2026

From 15 valuation models · updated 30 days ago

Fair value updated Jul 12, 2026, revised from 66.20 PLN to 15.30 PLN (−76.9%) since Jun 24, 2026. Share price −1.8% over the past month.

A solid business, but screening 61% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (24.61 PLN). The favourable scenario is already priced in.
  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (13.51 PLN to 24.61 PLN) leaves room in how you read the outcome.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

45.72 PLN 18.21 PLN Fair Value 15.30 PLN Mar 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 18.21 PLN – 45.72 PLN · fair‑value band 13.51 PLN – 24.61 PLN · the 39.30 PLN price screens above the 15.30 PLN fair value. Dashed = 300-day average. As of Jul 12, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

Instal Kraków S.A (INK) currently trades at 39.30 PLN, while our model-based Fair Value estimate is 15.30 PLN, implying the stock looks roughly 61.1% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Instal Kraków S.A generated revenue of 342M PLN at a net margin of 13.0%. Revenue declined 16.6% year over year. It earns a return on equity of 11.5%. Net debt stands at 3.3M PLN. Fundamentals as of Jul 12, 2026

Our scenario range runs from 13.51 PLN (bear case) to 24.61 PLN (bull case); at 39.30 PLN, the current price sits above 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 4% below its 52-week high and 12% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -61%, INK screens richer 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 45.03 PLN 51.63 PLN 84.67 PLN 76
ROIC Compounder 52.38 PLN 59.10 PLN 65.58 PLN 72
Gordon GGM 17.54 PLN 18.74 PLN 20.52 PLN 70
All 15 models by family
DCF Models
Owner Earnings 57.37 PLN 71.82 PLN 95.07 PLN 31
Earnings-Based
Graham-Dodd 49.34 PLN 60.30 PLN 67.84 PLN 54
EPV 52.38 PLN 58.46 PLN 63.40 PLN 59
Dividend Discount
Gordon GGM 17.54 PLN 18.74 PLN 20.52 PLN 70
DDM Multi-Stage 17.54 PLN 20.30 PLN 23.75 PLN 61
Multiples
P/E Multiple 114.28 PLN 152.37 PLN 190.46 PLN 63
P/S Multiple 77.19 PLN 102.93 PLN 128.66 PLN 58
P/B Multiple 92.51 PLN 123.35 PLN 154.18 PLN 55
EV/EBIT 114.63 PLN 152.27 PLN 189.91 PLN 53
EV/EBITDA 95.28 PLN 126.47 PLN 157.66 PLN 54
EV/Revenue 66.56 PLN 94.35 PLN 122.14 PLN 43
Asset-Based
NCAV (Graham) 25.55 PLN 34.24 PLN 51.11 PLN 50
Economic Profit
Residual Income 45.03 PLN 51.63 PLN 84.67 PLN 76
ROIC Compounder 52.38 PLN 59.10 PLN 65.58 PLN 72
Growth Earnings
Growth-Adj P/E 80.69 PLN 115.28 PLN 149.86 PLN 68

Widest divergence: Multiples (123.35 PLN) versus Dividend Discount (18.74 PLN). Highest evidence: Residual Income (76).

Notify me when INK reaches fair value

Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.

Key figures & financial health

Revenue (TTM) 342M PLN
Revenue growth (YoY) -16.6%
Net margin 13.0%
Return on equity 11.5%
Free cash flow −1.1M PLN FY2024
P/E ratio 5.1
More key figures
Operating margin 18.9%
EPS (TTM) 7.38 PLN
EPS growth (YoY) -38.7%
Net debt 3.3M PLN FY2024

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 58 · Market factors (momentum, volatility) 61

Profitability 54
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 96
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 83
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

Instal Kraków S.A. engages in the construction business in Poland and internationally. It constructs and assembles industrial, commercial, sports, public facilities, etc.; desulphurization, denitrification, ash removal, slagging, and pneumatic transport facilities; municipal and industrial sewage treatment plants; sludge dryer and thermal waste treatment …

Full company description

Instal Kraków S.A. engages in the construction business in Poland and internationally. It constructs and assembles industrial, commercial, sports, public facilities, etc.; desulphurization, denitrification, ash removal, slagging, and pneumatic transport facilities; municipal and industrial sewage treatment plants; sludge dryer and thermal waste treatment plants; water demineralization and treatment stations; water intakes; ozone and water production installations, pumping stations, and chlorination plants; external networks, water mains, and internal sewage and water installations; technological and industrial installations; gas reduction stations; heat exchangers and compact heat substations, gas-oil boiler rooms, and biogas utilization systems; heat networks; compressed air, vacuum, and pneumatic transport systems; and ventilation and air-conditioning systems. The company also constructs and executes storage tanks; silos; ventilation, air-conditioning, and dust removal systems; desulfurization and denitrification installation components; pipelines and equipment for transport media; load-bearing and supporting structures; protective barriers, platforms, and ladders; and machines and devices for various technological processes. In addition, it produces sediment scrapers and rod mixers, and heat exchangers; sells and rents real estate projects; repairs equipment, and installation power plants and industrial plants; and installs air conditioning and ventilation, heating and sanitary, heat centers, and technical gases equipment; assembles and prefabricates steel structures; and offers welding and foundry services. The company was founded in 1950 and is based in Kraków, Poland.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Instal Kraków S.A reported revenue of 375M PLN in FY2024 versus 411M PLN in FY2020, a compound −2.3%/yr. Reported net income was 52.9M PLN in FY2024, compounding +22.9%/yr from FY2020.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
375M PLN
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.
+0.5%
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.
−3.0%
Avg. growth/yr (14Y) 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.
+2.0%
Revenue −2.3%/yr
FY20 411M PLN
FY21 380M PLN
FY22 398M PLN
FY23 418M PLN
FY24 375M PLN
Net income +22.9%/yr
FY20 23.2M PLN
FY21 26.9M PLN
FY22 29.0M PLN
FY23 35.3M PLN
FY24 52.9M PLN
Character of growth · EPS growth decomposed (2013-2024) +15.7 % p.a.
Revenue per share −2.3 pp

of which total revenue −2.3 pp · buybacks/dilution +0.0 pp

EBIT margin +16.3 pp
Tax rate +1.1 pp
Residual (interest, one-offs) +0.6 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).

INK screens 61% overvalued. Compare with Larsen & Toubro Limited →

Share or link this analysis
For bloggers & editors: embed code + live data

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). "Instal Kraków S.A Fair Value". https://www.fairvalue-calculator.com/stock/INK

Peer Group

Engineering & Construction · 839 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 62 · Top 25%
Fair Value upside −61% · Bottom 25%
Return on equity (TTM) 11% · Above median
Return on assets 7% · Top 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 19% · Top 25%
Revenue growth -17% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 5.5× · Cheaper than 75% of peers
P/B 0.21× · Cheaper than 75% of peers
P/S (TTM) 0.23× · Cheaper than median
EV/EBITDA 1.1× · 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 0 · sector 16
FUTURE 0 · sector 17
PAST 46 · sector 26
HEALTH 100 · sector 94
DIVIDEND 0 · sector 33

VALUE 0: the price sits above our fair-value range.

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

Compare Instal Kraków S.A with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Industrials stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is Instal Kraków S.A (INK) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 15.30 PLN versus a price of 39.30 PLN, about −61% (overvalued).
What is the fair value of INK?
Our model-based fair value for Instal Kraków S.A is 15.30 PLN (as of Jul 12, 2026), built from audited fundamentals. The current price is 39.30 PLN.
What is the quality score of INK?
Instal Kraków 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 revenue of Instal Kraków S.A (INK)?
Instal Kraków S.A reported trailing-twelve-month revenue of about 342M PLN (latest available figure, as of Jul 12, 2026).
What is the net profit margin of INK?
The net profit margin of Instal Kraków S.A is about 13.0%, meaning it keeps roughly 13.0% of revenue as net income. Based on the latest reported figures.

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.

14 days Pro free · no card

Track Instal Kraków S.A and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.