LUBAWA SA (LBW) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of LUBAWA SA stock PLN 11.57, price PLN 9.94, upside +16.4%, quality 71 out of 100. Rating: undervalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.
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LUBAWA SA
LBW · WARThe stock costs 14% less than our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 1.03 PLN – 14.65 PLN · fair‑value band 6.74 PLN – 18.35 PLN · the 9.94 PLN price screens below the 11.57 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Company profile
Lubawa S.A., together with its subsidiaries, manufactures and sells army, police, municipal police, border patrol, fire brigade, and special force products in Poland and internationally.
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The company operates through the Fabrics and Knitwear, Advertising Articles, Specialist Equipment, and Others segments.
It provides individual protection products, including helmets, bulletproof vests, ballistic plates and shields, rescue masks, load-bearing equipment, backpacks, special and protective clothing, rescue vests, and individual camouflage; EOD and demining equipment comprising field clearance set, combat engineer demining and reconnaissance equipment, mine-clearance lightweight EOD vest, lightweight EOD suit for pyrotechnicians and sappers, and pyrotechnic shield; frame tents, pneumatic tents, and tent bases; and mobile camouflage and decoys.
The company also offers EHS equipment, such as flood protection, tanks for liquids, decontamination, jump cushions, floating equipment, and water rescue; equipment for vehicles, including lightweight RPG net screens, additional modular armor, integrated multispectral modular armor, curved add-on armor, optronics protection, fuel tanks, ballistic protection, pneumatic floats, and armchair laps for pilots; and technical textiles comprising conductive fabrics, air duct fabrics, tapes, edges, tent fabrics, and boat fabrics, as well as technical textiles for gaskets, sanitary, lifts, inflatable structures, belts, tanks, membranes, and protective clothing.
In addition, it provides vulcanization press and autoclave, cutting, PVC welding, water jet cutting and carving, and sewing services.
Further, the company offers epidemic countermeasure products, including tent-based ambulance decontamination/ozone blasting units, L-2 chemical-resistant garments, preventative multifunctional masks, decontamination cabins, and 1-segment PVC decontamination chambers.
Lubawa S.A. was founded in 1951 and is headquartered in Ostrów Wielkopolski, Poland.
Stock analysis
LUBAWA SA (LBW) currently trades at 9.94 PLN, while our model-based Fair Value estimate is 11.57 PLN, implying the stock looks roughly 14% undervalued today.
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Valuation
Bull case: the Earnings-Based group reads highest at a median of 23.11 PLN per share, and 7 of the 10 models we run sit above the 9.94 PLN price.
Bear case: the Asset-Based group reads lowest at 2.21 PLN, and 3 of the 10 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 6.74 PLN (bear) to 18.35 PLN (bull), the price of 9.94 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 71/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
LUBAWA SA reported revenue of 617M PLN in FY2025 versus 265M PLN in FY2021, a compound +23.5%/yr. Reported net income was 126M PLN in FY2025, compounding +51.0%/yr from FY2021.
Key figures
Market cap 1.5B PLN (≈ $390M) Small · P/E ratio 13.4 · P/S ratio 2.71 · EPS (TTM) 0.7400 PLN · Net margin 19.6% · Return on equity 19.2% · Return on assets (EBIT) 11.4% (5-year average) · Operating margin 15.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 73 out of 100 (low confidence).
What moves the price
The share trades about 32% below its 52-week high and 35% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 8% fair-value upside, at 16%, LBW screens cheaper than that median.
Fair Value models
All 10 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
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Compare LUBAWA SA with another stock
Price, fair value, quality and upside side by side.
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.Conglomerates · 304 stocks
Valuation Multiplesvs Conglomerates median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Industrials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Dividend yield by industry
- EV/EBITDA by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Industrials
- Valuation of the Poland market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Conglomerates stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| PT Astra International Tbk, ASII | 5,000 IDR | 10,000 IDR | +100% | vs LBW |
| SK Inc 034730 | 445,000 KRW | 632,391 KRW | +42% | vs LBW |
| Honeywell International Inc HON | $220.05 | $245.42 | +12% | vs LBW |
| Jardine Matheson Holdings J36 | $60.84 | $66.74 | +10% | vs LBW |
| Kingdom Holding 4280 | 12.40 SAR | 13.40 SAR | +8% | vs LBW |
| SGH Limited SGH | A$42.62 | A$34.87 | −18% | vs LBW |
| Keppel Ltd BN4 | 9.45 SGD | 3.87 SGD | −59% | vs LBW |
| 3M Company MMM | $185.15 | $73.02 | −61% | vs LBW |
| Swire Pacific Limited 0019 | HK$112.20 | HK$27.75 | −75% | vs LBW |
| Doosan Corporation 000150 | 638,000 KRW | 95,752 KRW | −85% | vs LBW |
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