KSG Agro SA (KSG) fair value: what the stock is really worth
As of Sep 30, 2026: fair value of KSG Agro SA PLN 3.23, price PLN 3.08, upside +5.0%, quality 62 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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KSG Agro S.A., together with its subsidiaries, produces, processes, stores, and sells agricultural products in Ukraine. The company operates through three segments: Crop Farming, Pig Breeding, and Other. The Crop Farming segment produces crops, including sunflower, corn, wheat, barley, and rapeseed, as well as provides land cultivation services.
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KSG Agro S.A., together with its subsidiaries, produces, processes, stores, and sells agricultural products in Ukraine. The company operates through three segments: Crop Farming, Pig Breeding, and Other. The Crop Farming segment produces crops, including sunflower, corn, wheat, barley, and rapeseed, as well as provides land cultivation services. The Pig Breeding segment engages in the breeding of pigs; ownership of Danish purebred sows; and sale of pigs and piglets in live and dead weight. The Other segment is involved in the production of fuel pellets and thermal energy; wholesale trade of crops and other goods; and provision of services to third parties. The company was formerly known as Borquest S.A. and changed its name to KSG Agro S.A. in March 2011. The company was incorporated in 2010 and is based in Luxembourg, Luxembourg.
Stock analysis
KSG Agro SA (KSG) currently trades at 3.08 PLN, while our model-based Fair Value estimate is 3.23 PLN, so the stock looks roughly fairly valued today (gap 4.8%).
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Valuation
Bull case: the DCF Models group reads highest at a median of 13.63 PLN per share, and 21 of the 23 models we run sit above the 3.08 PLN price.
Bear case: the Asset-Based group reads lowest at 0.8800 PLN, and 2 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: 2.17 PLN (bear) to 4.21 PLN (bull), the price of 3.08 PLN sits inside 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 Consumer Defensive sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
KSG Agro SA reported revenue of $22.1M in FY2024 versus $21.3M in FY2020, a compound +0.9%/yr. Reported net income was $2.4M in FY2024, compounding −3.4%/yr from FY2020.
Key figures
Market cap 46.2M PLN (≈ $12.0M) · P/E ratio 1.9 · P/S ratio 0.20 · EPS (TTM) 1.62 PLN · Net margin 10.7% · Return on equity 16.4% · Return on assets (EBIT) 5.1% · Operating margin 39.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 27% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 10% fair-value upside, at 5%, KSG screens richer than that median.
Fair Value models
Bear 2.17 PLNFair Value 3.23 PLNBull 4.21 PLN
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2024 figures (about 12 months old). Earnings retained since then (1.62 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.Evidence ⓘEvidence = 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+17.7%
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.
−10.4%
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.
−1.5%
Revenue growth 15 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.
+1.4%
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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.
+0.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.0%
Dividend (yield on the price)0.0%
Profit margin 2019 to 2024 ⓘ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.2% → 17%
⚠ Revenue per share shrinking 6.7%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than 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).
+6.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +4.4% 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.Farm Products · 290 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside+5.0% · Above median
Profitability
Return on equity (TTM)16.4% · Top 25%
Return on assets9.6% · Top 25%
Net margin (TTM)7.7% · Above median
Operating margin (TTM)39.4% · Top 25%
Growth and dividend
Revenue growth−39.6% · Bottom 25%
Balance sheet
Debt / equity1.04× · Highest 25%
Valuation Multiplesvs Farm Products median · lower = cheaper
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Cite: Fair Value Calculator (2026). "KSG Agro SA Fair Value". https://www.fairvalue-calculator.com/stock/KSG
Frequently asked questions
Is KSG Agro SA (KSG) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 3.23 PLN versus a price of 3.08 PLN, about +5% upside (fairly valued).
What is the fair value of KSG?
Our model-based fair value for KSG Agro SA is 3.23 PLN (as of Sep 24, 2026), built from audited fundamentals. The current price: 3.08 PLN.
What is the quality score of KSG?
KSG Agro SA 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 KSG Agro SA (KSG)?
Our model-based price target is the fair value of 3.23 PLN (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 2.17 PLN, optimistic scenario 4.21 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the KSG Agro SA stock forecast for 2026?
Our models put fair value at 3.23 PLN, about +5% upside versus a price of 3.08 PLN (fairly valued). Cautious scenario 2.17 PLN, optimistic scenario 4.21 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of KSG Agro SA (KSG)?
KSG Agro SA reported trailing-twelve-month revenue of about $17.2M (latest available figure, as of Sep 24, 2026).
What growth is priced into KSG Agro SA (KSG)?
For today's price to be fair in a discounted-cash-flow model, KSG Agro SA would have to grow free cash flow by +6.9 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.5 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of KSG use?
Our models discount KSG Agro SA at 9.3 %: a base by market capitalisation (nano), damped by beta 0.35, 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 KSG Agro SA that is +6.9 % per year a year over ten years, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has KSG Agro SA (KSG) delivered so far?
Over the past 5 years revenue at KSG Agro SA grew -1.5 % a year. The price currently implies +6.9 % per year free-cash-flow growth a 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 KSG Agro SA (KSG) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into KSG Agro SA (+6.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of KSG Agro SA (KSG)?
The free-cash-flow yield on the price is 14.55 %: that much free cash flow KSG Agro SA produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of KSG Agro SA (KSG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KSG Agro SA it is 3.23 PLN per share (as of Sep 24, 2026), against a price of 3.08 PLN. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is KSG Agro SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, KSG trades below its calculated fair value: price 3.08 PLN, fair value 3.23 PLN, a gap of about +5% (fairly valued). 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 KSG?
No. The price is what the market pays today (3.08 PLN); the fair value is what the company's own numbers justify (3.23 PLN). For KSG Agro SA the two are 0.1540 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is KSG Agro SA worth?
The market values KSG Agro SA at about 46.2M PLN (market capitalisation, as of Sep 24, 2026). Per share that is 3.08 PLN; our models calculate a fair value of 3.23 PLN per share.
What do the bullish and bearish scenarios say about KSG?
Our models span a range for KSG Agro SA: cautious scenario 2.17 PLN, base 3.23 PLN, optimistic 4.21 PLN per share (as of Sep 24, 2026, price 3.08 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of KSG?
KSG Agro SA trades at a price-to-earnings ratio of 1.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3.23 PLN is built from several models across several years. Other multiples: P/B 2.5, P/S 0.7, EV/EBITDA 2.3.
How solid is the balance sheet of KSG Agro SA (KSG)?
Balance-sheet figures for KSG Agro SA (as of Sep 24, 2026): return on equity 16.4%, debt of 1.04 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is KSG from its 52-week high?
KSG Agro SA trades at 3.08 PLN, about 27% below its 52-week high of 4.21 PLN and 2% above the low of 3.03 PLN (as of Sep 30, 2026). Distance from the high says nothing about value: that is what the fair value of 3.23 PLN is for.
Which stocks are comparable to KSG Agro SA?
From the same area (Consumer Defensive) we also value Archer-Daniels-Midland Company, Muyuan Foods Group, Bunge Global SA, Tyson Foods, Inc, 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 KSG Agro SA stock attractive at the current price?
The data as of Sep 24, 2026: price 3.08 PLN, calculated fair value 3.23 PLN (+5%), Quality Score 62/100, from 23 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 KSG calculated?
We run KSG Agro SA through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 3.23 PLN, 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 14.7 % above its aggregate fair value. KSG Agro SA currently trades 5 % 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 KSG Agro SA (KSG)?
The closing price on Sep 30, 2026 was 3.08 PLN. Our model-based fair value is 3.23 PLN, about +5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KSG Agro SA right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (2.17 PLN to 4.21 PLN) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of KSG Agro SA
How large is the market capitalisation of KSG Agro SA (KSG)?
The market capitalisation of KSG Agro SA is 46.2M PLN (≈ $12.0M). 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 KSG Agro SA (KSG)?
The price-to-sales ratio of KSG Agro SA is 0.20 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of KSG Agro SA (KSG)?
Earnings per share at KSG Agro SA are 1.62 PLN (price ÷ EPS = P/E 1.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of KSG Agro SA (KSG)?
The net margin of KSG Agro SA is 10.7% (fiscal year 2024). 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 KSG Agro SA (KSG)?
The return on equity (ROE) of KSG Agro SA is 16.4% (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 KSG Agro SA (KSG)?
On an EBIT basis the return on assets of KSG Agro SA is 5.1% (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 KSG Agro SA (KSG)?
The operating margin of KSG Agro SA is 39.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KSG Agro SA (KSG)?
Revenue at KSG Agro SA is growing −39.6% versus a year earlier (3y avg −10.4%). 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 KSG Agro SA (KSG)?
Earnings per share at KSG Agro SA are growing −95.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does KSG Agro SA (KSG) carry?
The net debt of KSG Agro SA is $14.6M (fiscal year 2024, ≈ 8.4 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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