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Introl S.A (INL) Fair Value & Analysis

Technology · PL · Market cap 202M PLN

IS Introl S.A INL · WAR
Price8.28 PLN
Fair Value3.45 PLN
Upside-58.3%
Quality58/100
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Mixed Growth
Thin margins · 3.3% net margin
Low debt · generates free cash flow
5.22% dividend yield
Ranks above peers (9/13)
Narrow moat 38/100
Evidence: High Range 2.59 PLN – 4.32 PLN Share as image

Fair value as of: Jul 20, 2026

From 26 valuation models · updated 21 days ago

Fair value updated Jul 20, 2026, revised from 3.22 PLN to 3.45 PLN (+7.1%) since Jul 19, 2026. Share price +5.3% over the past month.

A solid business, but screening 58% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (4.32 PLN). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

9.89 PLN 3.20 PLN Fair Value 3.45 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 3.20 PLN – 9.89 PLN · fair‑value band 2.59 PLN – 4.32 PLN · the 8.28 PLN price screens above the 3.45 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Introl S.A (INL) currently trades at 8.28 PLN, while our model-based Fair Value estimate is 3.45 PLN, implying the stock looks roughly 58.3% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Technology 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: high).

Over the trailing twelve months, Introl S.A generated revenue of 587M PLN at a net margin of 3.7%. Revenue grew 22.8% year over year. It earns a return on equity of 14.3%. Net debt stands at 36.3M PLN. Fundamentals as of Jul 20, 2026

Our scenario range runs from 2.59 PLN (bear case) to 4.32 PLN (bull case); at 8.28 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 36% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -45% fair-value upside, at -58%, INL 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
Growth DCF 20.42 PLN 26.11 PLN 32.58 PLN 80
Residual Income 5.93 PLN 6.37 PLN 7.00 PLN 76
Rev-Margin DCF 16.25 PLN 22.64 PLN 29.84 PLN 74
All 26 models by family
DCF Models
FCF DCF 20.30 PLN 26.75 PLN 34.50 PLN 38
Owner Earnings 10.33 PLN 13.37 PLN 17.02 PLN 31
5Y Revenue Exit 16.25 PLN 22.33 PLN 29.73 PLN 39
5Y EBITDA Exit 19.56 PLN 28.37 PLN 38.26 PLN 41
5Y P/E Exit 15.30 PLN 20.60 PLN 25.88 PLN 38
10Y Revenue Exit 17.62 PLN 22.97 PLN 29.51 PLN 36
10Y EBITDA Exit 19.68 PLN 26.50 PLN 34.93 PLN 37
10Y P/E Exit 17.38 PLN 21.96 PLN 27.07 PLN 35
Earnings-Based
Graham-Dodd 5.10 PLN 13.87 PLN 18.18 PLN 54
Lynch FV 2.73 PLN 3.90 PLN 5.08 PLN 50
PEG = 1.0 2.73 PLN 3.90 PLN 5.08 PLN 46
EPV 9.63 PLN 10.62 PLN 11.41 PLN 59
Dividend Discount
Gordon GGM 3.34 PLN 5.60 PLN 7.27 PLN 70
DDM Multi-Stage 3.34 PLN 4.76 PLN 5.97 PLN 61
Multiples
P/E Multiple 11.24 PLN 14.99 PLN 18.74 PLN 63
P/S Multiple 9.56 PLN 12.74 PLN 15.93 PLN 58
P/B Multiple 9.56 PLN 12.74 PLN 15.93 PLN 55
EV/EBIT 19.74 PLN 25.83 PLN 31.92 PLN 53
EV/EBITDA 21.48 PLN 28.15 PLN 34.82 PLN 54
EV/Revenue 13.78 PLN 19.06 PLN 24.34 PLN 43
Asset-Based
NCAV (Graham) 3.70 PLN 4.96 PLN 7.40 PLN 50
Growth DCF
Growth DCF 20.42 PLN 26.11 PLN 32.58 PLN 80
Rev-Margin DCF 16.25 PLN 22.64 PLN 29.84 PLN 74
Economic Profit
Residual Income 5.93 PLN 6.37 PLN 7.00 PLN 76
ROIC Compounder 9.89 PLN 11.32 PLN 12.80 PLN 72
Growth Earnings
Growth-Adj P/E 8.93 PLN 12.76 PLN 16.59 PLN 68

Widest divergence: Growth DCF (22.64 PLN) versus Earnings-Based (3.90 PLN). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 587M PLN
Revenue growth (YoY) +22.8%
Net margin 3.7%
Return on equity 14.3%
Free cash flow 60.0M PLN FY2025
P/E ratio 9.4
More key figures
Operating margin 3.2%
EPS (TTM) 0.8400 PLN
Dividend yield 3.1%
EPS growth (YoY) +120%
Net debt 36.3M PLN FY2025

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 58 · Market factors (momentum, volatility) 67

Profitability 48
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 51
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 87
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 70
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

Introl S.A. operates as a general contractor in Poland and internationally. It is involved in the modernization of commercial and heat power plants; and implementation of renewable power sources and cogeneration systems, as well as constructs heat and power plants that generate electrical and thermal power primarily for municipal heat and power plants, …

Full company description

Introl S.A. operates as a general contractor in Poland and internationally. It is involved in the modernization of commercial and heat power plants; and implementation of renewable power sources and cogeneration systems, as well as constructs heat and power plants that generate electrical and thermal power primarily for municipal heat and power plants, waste water treatment plants, and coal mines. The company is also involved in the environmental protection, and water and sewage management activities; water and waste water treatment, and air/exhaust gas purification operations; provision of equipment for mechanical waste filtering and mechanical sludge treatment, and transportation of post-production waste, cement, ash, sand, etc., as well as smart manufacturing and cities solutions. In addition, it operates in the areas of process and production automation; implements industrial automation systems, such as process control and monitoring systems; produces automated stations; and modernizes production line, as well as offers maintenance services for industrial plants. Further, the company distributes control and measurement equipment; provides services in the design and implementation of measurement systems; and designs, implements, integrates, and maintains telecom, safety, automation, and power systems, as well as other low-current systems in smart buildings, such as office buildings, shopping centres, industrial facilities, public use buildings, etc. Additionally, it designs and constructs facilities with comfort systems comprising ventilation and air-conditioning systems for commercial and office buildings, and high-end systems for industrial and power plants; and produces pressure castings, temperature sensors, pressure molds, dies, and processing and custom based tools. Introl S.A. was formerly known as Introl-Polon Sp. z o. o and changed its name to Introl S.A. in 1997. The company was founded in 1990 and is headquartered in Katowice, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Introl S.A reported revenue of 602M PLN in FY2025 versus 485M PLN in FY2021, a compound +5.6%/yr. Reported net income was 19.3M PLN in FY2025, compounding +4.0%/yr from FY2021.

Growth Quality 69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
602M PLN
Latest YoY
−6.4%
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.
+0.3%
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.
+5.6%
Avg. growth/yr (18Y) 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.
+8.1%
Revenue +5.6%/yr
FY21 485M PLN
FY22 597M PLN
FY23 687M PLN
FY24 644M PLN
FY25 602M PLN
Net income +4.0%/yr
FY21 16.5M PLN
FY22 22.6M PLN
FY23 33.5M PLN
FY24 27.9M PLN
FY25 19.3M PLN
Character of growth · EPS growth decomposed (2014-2025) +5.7 % p.a.
Revenue per share +5.3 pp

of which total revenue +4.9 pp · buybacks/dilution +0.4 pp

EBIT margin +3.6 pp
Tax rate −2.1 pp
Residual (interest, one-offs) −1.1 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).

INL screens 58% overvalued. Compare with Keysight Technologies, Inc →

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Cite: Fair Value Calculator (2026). "Introl S.A Fair Value". https://www.fairvalue-calculator.com/stock/INL

Peer Group

Scientific & Technical Instruments · 161 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 58 · Above median
Fair Value upside −58% · Below median
Return on equity (TTM) 14% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 23% · Top 25%
Dividend yield (TTM) 5.2% · Top 25%
Debt / equity 0.12× · Higher than median

Valuation Multiples vs Scientific & Technical Instruments median · lower = cheaper

P/E (TTM) 9.7× · Cheaper than 75% of peers
P/B 0.28× · Cheaper than 75% of peers
P/S (TTM) 0.09× · Cheaper than 75% of peers
P/FCF 0.9× · 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 0
FUTURE 100 · sector 34
PAST 55 · sector 25
HEALTH 94 · sector 98
DIVIDEND 100 · sector 24

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 Scientific & Technical Instruments stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

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Keysight Technologies, Inc KEYS $315.90 $84.16 -73%
Garmin Ltd GRMN $241.76 $146.67 -39%
Teledyne Technologies Incorporated TDY $635.52 $367.58 -42%
Chroma ATE Inc 2360 1,905 TWD 286.15 TWD -85%
Hexagon AB HEXAB kr 80.10 kr 52.93 -34%
MKS Inc MKSI $324.69 $77.46 -76%
AVIC Chengdu Aircraft Company 302132 ¥52.91 ¥34.47 -35%
Fortive Corporation FTV $61.78 $33.84 -45%
Trimble Inc TRMB $52.72 $24.47 -54%
Cognex Corporation CGNX $64.07 $13.75 -79%

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Frequently asked questions

Is Introl S.A (INL) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 3.45 PLN versus a price of 8.28 PLN, about −58% (overvalued).
What is the fair value of INL?
Our model-based fair value for Introl S.A is 3.45 PLN (as of Jul 20, 2026), built from audited fundamentals. The current price is 8.28 PLN.
What is the quality score of INL?
Introl S.A has a Quality Score of 58/100. 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 Introl S.A (INL)?
Introl S.A reported trailing-twelve-month revenue of about 587M PLN (latest available figure, as of Jul 20, 2026).
What is the net profit margin of INL?
The net profit margin of Introl S.A is about 3.7%, meaning it keeps roughly 3.7% of revenue as net income. Based on the latest reported figures.
Does Introl S.A pay a dividend?
Introl S.A currently shows a dividend yield of about 3.05% relative to its recent price (as of Jul 20, 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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