Lubawa S.A (LBW) Fair Value & Analysis

Industrials · PL · Market cap 1.8B PLN

A solid business, screening 22% undervalued on our models.

What matters now

• Our model range runs from 10.70 PLN (bear) to 17.83 PLN (bull), base 14.27 PLN. The closer the price sits to the lower half, the larger the margin of safety.
• Quality 73/100 (solid quality) with high evidence: the data supports the verdict.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 1.03 PLN – 14.65 PLN · fair‑value band 10.70 PLN – 17.83 PLN · the 11.74 PLN price screens below the 14.27 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Lubawa S.A (LBW) currently trades at 11.74 PLN, while our model-based Fair Value estimate is 14.27 PLN, implying the stock looks roughly 21.6% undervalued today. The Quality Score stands at 73/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Lubawa S.A generated revenue of 617M PLN at a net margin of 20.5%. Revenue grew 33.2% year over year. It earns a return on equity of 24.0%. The balance sheet holds a net cash position of 158M PLN. Fundamentals as of Jul 14, 2026

Our scenario range runs from 10.70 PLN (bear case) to 17.83 PLN (bull case); at 11.74 PLN, the current price sits within 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 23% below its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -14% fair-value upside, at 22%, LBW screens cheaper 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.

Widest divergence: DCF Models (18.60 PLN) versus Dividend Discount (0.2100 PLN). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

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. The company operates through the Fabrics and Knitwear, Advertising Articles, Specialist Equipment, and Others segments.

Full company description

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. 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.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lubawa S.A 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.

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Peer Group

Conglomerates · 370 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.

Valuation Multiples vs Conglomerates median · lower = cheaper

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.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

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.