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Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A (KMP) Fair Value & Analysis

Basic Materials · PL · Market cap 103M PLN

PP Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A KMP · WAR
Price22.00 PLN
Fair Value17.92 PLN
Upside-18.6%
Quality61/100
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Mixed Growth
Thin margins · 0.2% net margin
Low debt · generates free cash flow
3.10% dividend yield
Mixed vs. peers (6/14)
Narrow moat 24/100
Evidence: High Range 15.04 PLN – 17.92 PLN Share as image

Fair value as of: Jul 13, 2026

From 25 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from 8.89 PLN to 17.92 PLN (+101.6%) since Jun 24, 2026.

A solid business, but screening 19% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (17.92 PLN). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

27.73 PLN 4.50 PLN Fair Value 17.92 PLN Sep 2019 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range 4.50 PLN – 27.73 PLN · fair‑value band 15.04 PLN – 17.92 PLN · the 22.00 PLN price screens above the 17.92 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

Full chart & analysis →

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Analysis

Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A (KMP) currently trades at 22.00 PLN, while our model-based Fair Value estimate is 17.92 PLN, implying the stock looks roughly 18.6% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Basic Materials 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, Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A generated revenue of 102M PLN at a net margin of 0.6%. Revenue declined 3.1% year over year. It earns a return on equity of 0.8%. Net debt stands at 7.4M PLN. Fundamentals as of Jul 13, 2026

Our scenario range runs from 15.04 PLN (bear case) to 17.92 PLN (bull case); at 22.00 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 20% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at -19%, KMP 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 10.34 PLN 13.51 PLN 17.23 PLN 80
Residual Income 9.27 PLN 8.47 PLN 5.21 PLN 76
Rev-Margin DCF 6.06 PLN 7.58 PLN 9.41 PLN 74
All 25 models by family
DCF Models
FCF DCF 10.33 PLN 14.01 PLN 18.63 PLN 38
5Y Revenue Exit 6.06 PLN 7.40 PLN 8.91 PLN 39
5Y EBITDA Exit 12.70 PLN 19.84 PLN 28.12 PLN 41
5Y P/E Exit 5.89 PLN 7.08 PLN 8.23 PLN 38
10Y Revenue Exit 7.84 PLN 9.41 PLN 11.24 PLN 36
10Y EBITDA Exit 11.51 PLN 16.80 PLN 23.77 PLN 37
10Y P/E Exit 7.79 PLN 9.23 PLN 10.80 PLN 35
Earnings-Based
Graham-Dodd 0.8800 PLN 2.78 PLN 3.71 PLN 54
Lynch FV 0.6100 PLN 0.8700 PLN 1.13 PLN 50
PEG = 1.0 0.6100 PLN 0.8700 PLN 1.13 PLN 46
EPV 1.77 PLN 1.86 PLN 1.93 PLN 59
Dividend Discount
Gordon GGM 7.31 PLN 12.25 PLN 15.90 PLN 70
DDM Multi-Stage 7.31 PLN 11.05 PLN 13.18 PLN 61
Multiples
P/E Multiple 1.66 PLN 2.21 PLN 2.76 PLN 63
P/S Multiple 1.66 PLN 2.21 PLN 2.76 PLN 58
P/B Multiple 1.66 PLN 2.21 PLN 2.76 PLN 55
EV/EBIT 3.15 PLN 3.87 PLN 4.58 PLN 53
EV/EBITDA 16.36 PLN 21.48 PLN 26.60 PLN 54
EV/Revenue 2.86 PLN 3.66 PLN 4.46 PLN 43
Asset-Based
NCAV (Graham) 7.52 PLN 10.08 PLN 15.04 PLN 50
Growth DCF
Growth DCF 10.34 PLN 13.51 PLN 17.23 PLN 80
Rev-Margin DCF 6.06 PLN 7.58 PLN 9.41 PLN 74
Economic Profit
Residual Income 9.27 PLN 8.47 PLN 5.21 PLN 76
ROIC Compounder 1.77 PLN 1.86 PLN 1.93 PLN 72
Growth Earnings
Growth-Adj P/E 1.41 PLN 2.01 PLN 2.62 PLN 68

Widest divergence: Dividend Discount (11.05 PLN) versus Earnings-Based (0.8700 PLN). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 100M PLN
Revenue growth (YoY) -4.7%
Net margin 0.2%
Return on equity 0.2%
Free cash flow 5.2M PLN FY2024
P/E ratio 550.0
More key figures
Operating margin 1.6%
EPS (TTM) 0.0400 PLN
Dividend yield 3.1%
EPS growth (YoY) -82.9%
Net debt 7.4M PLN FY2024

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 61 · Market factors (momentum, volatility) 47

Profitability 31
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 66
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 35
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

Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A. manufactures and sells paper and printing products and services in Poland and internationally.

Full company description

Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A. manufactures and sells paper and printing products and services in Poland and internationally. The company prints leaflets and information booklets, user manuals, and other informational and training materials for pharmaceutical or cosmetic companies; A4 company-headed papers for use in laser printers; and jobbing prints, such as accounting, HR, payroll papers, warehouse stationery, sales prints, and others. It also prints self-adhesive labels in the form of sheets, rolls, and listing papers for offices, warehouses, administrative bodies, and other industries; paper rolls with print for fiscal cash registers, ATMs, and other specialist rolls; computer printer papers with special print; and confidential envelopes. In addition, the company offers packaging papers on rolls or sheets; and books and magazines, and printing services. It serves printing industry companies, paper wholesalers, transport and logistics companies, service companies, pharmaceutical companies, and food producers. It serves its products under the Kompap, BZGraf, and OZGraf brand name. Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A. was founded in 1989 and is headquartered in Laskowice, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A reported revenue of 102M PLN in FY2025 versus 91.3M PLN in FY2021, a compound +2.7%/yr. Reported net income was 608K PLN in FY2025, compounding −41.9%/yr from FY2021.

Growth Quality 53/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
102M PLN
Latest YoY
−6.0%
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.
−3.2%
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.
+3.2%
Avg. growth/yr (17Y) 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.
+9.5%
Revenue +2.7%/yr
FY21 91.3M PLN
FY22 112M PLN
FY23 118M PLN
FY24 108M PLN
FY25 102M PLN
Net income −41.9%/yr
FY21 5.3M PLN
FY22 8.5M PLN
FY23 4.2M PLN
FY24 2.4M PLN
FY25 608K PLN
Character of growth · EPS growth decomposed (2013-2024) +4.0 % p.a.
Revenue per share +7.8 pp

of which total revenue +7.8 pp · buybacks/dilution +0.0 pp

EBIT margin −1.6 pp
Tax rate −1.9 pp
Residual (interest, one-offs) −0.3 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).

KMP screens 19% overvalued. Compare with Klabin S.A →

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Cite: Fair Value Calculator (2026). "Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A Fair Value". https://www.fairvalue-calculator.com/stock/KMP

Peer Group

Paper & Paper Products · 111 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 61 · Top 25%
Fair Value upside −19% · Below median
Return on equity (TTM) 0% · Below median
Return on assets 0% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth -5% · Below median
Dividend yield (TTM) 3.1% · Above median

Valuation Multiples vs Paper & Paper Products median · lower = cheaper

P/E (TTM) 550.0× · Pricier than 75% of peers
P/B 0.39× · Cheaper than 75% of peers
P/S (TTM) 0.28× · Cheaper than median
P/FCF 5.3× · Pricier than median
EV/EBITDA 2.5× · 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 9 · sector 20
FUTURE 0 · sector 9
PAST 1 · sector 12
HEALTH 100 · sector 91
DIVIDEND 62 · sector 41

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 Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
Klabin S.A KLBN11 R$17.58 R$3.89 -78%
UPM-Kymmene Oyj UPM €23.45 €15.47 -34%
Suzano S.A SUZB3 R$41.70 R$138.01 +231%
Svenska Cellulosa Aktiebolaget SCA (publ) SCAB kr 103.00 kr 49.40 -52%
Shandong Sunpaper Co 002078 ¥14.13 ¥17.29 +22%
Holmen AB HOLMB kr 305.40 kr 217.72 -29%
Nine Dragons Paper (Holdings) Limited 2689 HK$7.55 HK$8.73 +16%
Empresas CMPC S.A CMPC 1,078 CLP 1,269 CLP +18%
Xianhe Co 603733 ¥22.05 ¥24.32 +10%
Billerud AB BILL kr 68.70 kr 48.60 -29%

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Frequently asked questions

Is Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A (KMP) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 17.92 PLN versus a price of 22.00 PLN, about −19% (overvalued).
What is the fair value of KMP?
Our model-based fair value for Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A is 17.92 PLN (as of Jul 13, 2026), built from audited fundamentals. The current price is 22.00 PLN.
What is the quality score of KMP?
Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A has a Quality Score of 61/100. 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 Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A (KMP)?
Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A reported trailing-twelve-month revenue of about 102M PLN (latest available figure, as of Jul 13, 2026).
What is the net profit margin of KMP?
The net profit margin of Przedsiebiorstwo Produkcyjno - Handlowe KOMPAP S.A is about 0.6%, meaning it keeps roughly 0.6% 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.

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