LSI Software S.A. (LSI) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of LSI Software S.A. PLN 125, price PLN 52.40, upside +138.8%, quality 77 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 9.67 PLN – 61.80 PLN · fair‑value band 73.14 PLN – 172.16 PLN · the 52.40 PLN price screens below the 125.15 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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LSI Software S.A. develops software for enterprise resource planning, retail chains, restaurants, hotels, gastronomy, sports and recreation facilities, and cinemas. The company offers implementation of professional B2B systems, as well as modern equipment, and consulting and maintenance services. LSI Software S.A.
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LSI Software S.A. develops software for enterprise resource planning, retail chains, restaurants, hotels, gastronomy, sports and recreation facilities, and cinemas. The company offers implementation of professional B2B systems, as well as modern equipment, and consulting and maintenance services. LSI Software S.A. was founded in 1991 and is headquartered in Lódz, Poland.
Stock analysis
LSI Software S.A. (LSI) currently trades at 52.40 PLN, while our model-based Fair Value estimate is 125.15 PLN, implying the stock looks roughly 58.1% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 125.15 PLN per share, and 23 of the 26 models we run sit above the 52.40 PLN price.
Bear case: the Asset-Based group reads lowest at 17.62 PLN, and 3 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 73.14 PLN (bear) to 172.16 PLN (bull), the price of 52.40 PLN sits below 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 77/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
LSI Software S.A. reported revenue of 85.3M PLN in FY2025 versus 54.0M PLN in FY2021, a compound +12.1%/yr. Reported net income was 15.4M PLN in FY2025, compounding +24.3%/yr from FY2021.
Key figures
Market cap 166M PLN (≈ $43.2M) · P/E ratio 8.8 · P/S ratio 1.59 · EPS (TTM) 5.96 PLN · Dividend yield 3.8% · Net margin 18.1% · Return on equity 32.1% · Return on assets (EBIT) 8.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 97% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at 139%, LSI screens cheaper than that median.
Fair Value models
Bear 73.14 PLNFair Value 125.15 PLNBull 172.16 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 2025 figures (about 9 months old). Earnings retained since then (2.91 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.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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+22.4%
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.
+14.1%
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.
+14.6%
Start year 2020 (pandemic). Over 10 years: +11.5% a year
Revenue growth 16 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.
+10.0%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+29.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+25.2%
Dividend (yield on the price)3.8%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.21% vs 15%, picking up
Profit margin 2020 to 2025 ⓘ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.4% → 18%
2025 sits 398% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less 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).
+4.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Poland: IMF forecast 3.1% a year to 2030, 4.6% from 2016 to 2025) that is about +1.4% 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.Software - Application · 721 stocks
Beats the industry median on 14/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score77 · Top 25%
Fair Value upside+139% · Top 25%
Profitability
Return on equity (TTM)32% · Top 25%
Return on assets14% · Top 25%
Net margin (TTM)20% · Top 25%
Operating margin (TTM)24% · Top 25%
Growth and dividend
Revenue growth52% · Top 25%
Dividend yield (TTM)3.8% · Above median
Balance sheet
Debt / equity0.01× · Below median
Valuation Multiplesvs Software - Application median · lower = cheaper
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Is LSI Software S.A. (LSI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 125.15 PLN versus a price of 52.40 PLN, about +139% upside (undervalued).
What is the fair value of LSI?
Our model-based fair value for LSI Software S.A. is 125.15 PLN (as of Sep 24, 2026), built from audited fundamentals. The current price: 52.40 PLN.
What is the quality score of LSI?
LSI Software S.A. has a Quality Score of 77/100. 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 LSI Software S.A. (LSI)?
Our model-based price target is the fair value of 125.15 PLN (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 73.14 PLN, optimistic scenario 172.16 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the LSI Software S.A. stock forecast for 2026?
Our models put fair value at 125.15 PLN, about +139% upside versus a price of 52.40 PLN (undervalued). Cautious scenario 73.14 PLN, optimistic scenario 172.16 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of LSI Software S.A. (LSI)?
LSI Software S.A. reported trailing-twelve-month revenue of about 93.8M PLN (latest available figure, as of Sep 24, 2026).
Does LSI Software S.A. pay a dividend?
LSI Software S.A. currently shows a dividend yield of about 3.82% relative to its recent price (as of Sep 24, 2026).
What growth is priced into LSI Software S.A. (LSI)?
For today's price to be fair in a discounted-cash-flow model, LSI Software S.A. would have to grow free cash flow by +4.6 % per year for five years (discount rate 9.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of LSI use?
Our models discount LSI Software S.A. at 9.6 %: a base by market capitalisation (nano), damped by beta 0.64, 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 LSI Software S.A. that is +4.6 % per year a year over ten years, using the same discount rate (9.6 %) and the same formula as our fair value.
How much growth has LSI Software S.A. (LSI) delivered so far?
Over the past 5 years revenue at LSI Software S.A. grew +14.7 % a year. The price currently implies +4.6 % 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 LSI Software S.A. (LSI) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into LSI Software S.A. (+4.6 % 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 LSI Software S.A. (LSI)?
The free-cash-flow yield on the price is 6.01 %: that much free cash flow LSI Software S.A. produces per unit of market value. When it exceeds the discount rate of our models (9.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of LSI Software S.A. (LSI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For LSI Software S.A. it is 125.15 PLN per share (as of Sep 24, 2026), against a price of 52.40 PLN. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is LSI Software S.A. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, LSI trades below its calculated fair value: price 52.40 PLN, fair value 125.15 PLN, a gap of about +139% (undervalued). 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 LSI?
No. The price is what the market pays today (52.40 PLN); the fair value is what the company's own numbers justify (125.15 PLN). For LSI Software S.A. the two are 72.75 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is LSI Software S.A. worth?
The market values LSI Software S.A. at about 166M PLN (market capitalisation, as of Sep 24, 2026). Per share that is 52.40 PLN; our models calculate a fair value of 125.15 PLN per share.
What do the bullish and bearish scenarios say about LSI?
Our models span a range for LSI Software S.A.: cautious scenario 73.14 PLN, base 125.15 PLN, optimistic 172.16 PLN per share (as of Sep 24, 2026, price 52.40 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LSI?
LSI Software S.A. trades at a price-to-earnings ratio of 8.8 (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 125.15 PLN is built from several models across several years. Other multiples: P/B 0.6, P/S 0.5, EV/EBITDA 1.7.
How solid is the balance sheet of LSI Software S.A. (LSI)?
Balance-sheet figures for LSI Software S.A. (as of Sep 24, 2026): return on equity 32.1%, debt of 0.01 per unit of equity. They feed the Quality Score of 77/100, which measures business quality independently of the share price.
How far is LSI from its 52-week high?
LSI Software S.A. trades at 52.40 PLN, about 15% below its 52-week high of 61.80 PLN and 97% above the low of 26.57 PLN (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 125.15 PLN is for.
Which stocks are comparable to LSI Software S.A.?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, 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 LSI Software S.A. stock attractive at the current price?
The data as of Sep 24, 2026: price 52.40 PLN, calculated fair value 125.15 PLN (+139%), Quality Score 77/100, from 26 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 LSI calculated?
We run LSI Software S.A. through 26 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 125.15 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 14.0 % above its aggregate fair value. LSI Software S.A. currently trades 139 % 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 LSI Software S.A. (LSI)?
The closing price on Sep 24, 2026 was 52.40 PLN. Our model-based fair value is 125.15 PLN, about +139% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with LSI Software S.A. right now?
The rarer combination: high quality (77/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (73.14 PLN). The market is more pessimistic than our downside scenario. A fairly wide model range (73.14 PLN to 172.16 PLN) leaves room in how you read the outcome.
Where does the earnings growth of LSI Software S.A. (LSI) come from?
Earnings per share at LSI Software S.A. grew +8.5 % a year from 2015 to 2025. Broken into its drivers: revenue per share +10.3 %, EBIT margin −3.1 %, tax rate +3.0 %, residual (interest, one-offs) −1.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of LSI Software S.A.
How large is the market capitalisation of LSI Software S.A. (LSI)?
The market capitalisation of LSI Software S.A. is 166M PLN (≈ $43.2M). 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 LSI Software S.A. (LSI)?
The price-to-sales ratio of LSI Software S.A. is 1.59 (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 LSI Software S.A. (LSI)?
Earnings per share at LSI Software S.A. are 5.96 PLN (price ÷ EPS = P/E 8.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of LSI Software S.A. (LSI)?
The dividend yield of LSI Software S.A. is 3.8% (payout 33.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of LSI Software S.A. (LSI)?
The net margin of LSI Software S.A. is 18.1% (fiscal year 2025). 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 LSI Software S.A. (LSI)?
The return on equity (ROE) of LSI Software S.A. is 32.1% (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 LSI Software S.A. (LSI)?
On an EBIT basis the return on assets of LSI Software S.A. is 8.7% (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 LSI Software S.A. (LSI)?
The operating margin of LSI Software S.A. is 24.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at LSI Software S.A. (LSI)?
Revenue at LSI Software S.A. is growing +51.6% versus a year earlier (3y avg +14.1%). 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 LSI Software S.A. (LSI)?
Earnings per share at LSI Software S.A. are growing +153% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does LSI Software S.A. (LSI) hold?
LSI Software S.A. holds more cash than debt, 4.1M PLN net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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