Lubelski Wegiel Bogdanka S.A. (LWB) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of Lubelski Wegiel Bogdanka S.A. stock PLN 36.64, price PLN 22.90, upside +60.0%, quality 46 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 17.58 PLN – 50.36 PLN · fair‑value band 33.44 PLN – 39.19 PLN · the 22.90 PLN price screens below the 36.64 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Lubelski Wegiel Bogdanka S.A. engages in the hard coal mining business in Poland. It produces heat; carries out overhauls; maintains and installs power equipment; produces drinking and industrial water; and transports and recovers waste from washing and cleaning of coal shale and land reclamation.
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It also engages in the production of steel structures, as well as mining and auxiliary works and coal haulage handling business. The company was incorporated in 2001 and is based in Puchaczów, Poland. Lubelski Wegiel Bogdanka S.A. is a subsidiary of ENEA S.A.
Stock analysis
Lubelski Wegiel Bogdanka S.A. (LWB) currently trades at 22.90 PLN, while our model-based Fair Value estimate is 36.64 PLN, implying the stock looks roughly 38% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 65.10 PLN per share, and 5 of the 6 models we run sit above the 22.90 PLN price.
Bear case: the Asset-Based group reads lowest at 12.01 PLN, and 1 of the 6 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 33.44 PLN (bear) to 39.19 PLN (bull), the price of 22.90 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 46/100 (below-average quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Lubelski Wegiel Bogdanka S.A. reported revenue of 2.9B PLN in FY2025 versus 2.4B PLN in FY2021, a compound +3.9%/yr. Reported net income was −160M PLN in FY2025.
Key figures
Market cap 796M PLN (≈ $200M) Micro · P/S ratio 0.32 · EPS (TTM) −12.34 PLN · Dividend yield 0.1% · Net margin −15.6% · Return on equity −15.2% · Return on assets (EBIT) −3.3% (5-year average) · Operating margin 4.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 15 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 30% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −25% fair-value upside, at 60%, LWB screens cheaper than that median.
Fair Value models
Bear33.44 PLNFair Value 36.64 PLNBull39.19 PLN
Price 22.90 PLN · Upside +60.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.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.Coverage ⓘCoverage = 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.
Best data coverage
EPV29.64 PLN32.48 PLN34.74 PLN74
ROIC Compounder29.64 PLN32.48 PLN34.74 PLN72
EV/EBITDA59.96 PLN76.94 PLN93.92 PLN67
All 6 models by family
Earnings-Based
EPV29.64 PLN32.48 PLN34.74 PLN74
Multiples
EV/EBIT41.38 PLN52.16 PLN62.94 PLN66
EV/EBITDA59.96 PLN76.94 PLN93.92 PLN67
EV/Revenue48.28 PLN65.10 PLN81.92 PLN54
Asset-Based
NCAV (Graham)7.93 PLN12.01 PLN15.02 PLN54
Economic Profit
ROIC Compounder29.64 PLN32.48 PLN34.74 PLN72
The fair value above starts from this blend and is adjusted for a cyclical trough year.
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.21/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−22.1%
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.
+5.2%
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.
+9.4%
Start year 2020 (pandemic). Over 10 years: +4.2% a year
Revenue growth 17 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.
+6.2%
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Profit margin (trend) ⓘ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.
17.4% (2019) → −50.6% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Compare Lubelski Wegiel Bogdanka S.A. with another stock
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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.Thermal Coal · 83 stocks
Beats the industry median on 3/10 measures
Overall it trails its industry peers.
Valuation
Quality Score46 · Below median
Fair Value upside+60.0% · Top 25%
Profitability
Return on assets−4.4% · Bottom 25%
Net margin (12 months)−15.6% · Bottom 25%
Operating margin (12 months)4.0% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)1.2% · Below median
Dividend yield (12 months)0.1% · Bottom 25%
Valuation Multiplesvs Thermal Coal median · lower = cheaper
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Is Lubelski Wegiel Bogdanka S.A. (LWB) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 36.64 PLN versus a price of 22.90 PLN, about +60% upside (undervalued).
What is the fair value of LWB?
Our model-based fair value for Lubelski Wegiel Bogdanka S.A. is 36.64 PLN (as of Nov 8, 2026), built from audited fundamentals. The current price: 22.90 PLN.
What is the quality score of LWB?
Lubelski Wegiel Bogdanka S.A. has a Quality Score of 46/100. 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 Lubelski Wegiel Bogdanka S.A. (LWB)?
Our model-based price target is the fair value of 36.64 PLN (as of Nov 8, 2026) from 6 valuation models. Cautious scenario 33.44 PLN, optimistic scenario 39.19 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Lubelski Wegiel Bogdanka S.A. stock forecast for 2026?
Our models put fair value at 36.64 PLN, about +60% upside versus a price of 22.90 PLN (undervalued). Cautious scenario 33.44 PLN, optimistic scenario 39.19 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Lubelski Wegiel Bogdanka S.A. (LWB)?
Lubelski Wegiel Bogdanka S.A. reported trailing-twelve-month revenue of about 2.7B PLN (latest available figure, as of Nov 8, 2026).
Does Lubelski Wegiel Bogdanka S.A. pay a dividend?
Lubelski Wegiel Bogdanka S.A. currently shows a dividend yield of 0.09% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Lubelski Wegiel Bogdanka S.A. (LWB)?
Lubelski Wegiel Bogdanka S.A. has a dividend yield of 0.1%.
What is the intrinsic value of Lubelski Wegiel Bogdanka S.A. (LWB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lubelski Wegiel Bogdanka S.A. it is 36.64 PLN per share (as of Nov 8, 2026), against a price of 22.90 PLN. It is the blended result of 6 valuation models in 4 families (Earnings-Based, Multiples, Asset-Based, Economic Profit).
Is Lubelski Wegiel Bogdanka S.A. stock overvalued or undervalued in 2026?
As of Nov 8, 2026, LWB trades below its calculated fair value: price 22.90 PLN, fair value 36.64 PLN, a gap of about +60% (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 LWB?
No. The price is what the market pays today (22.90 PLN); the fair value is what the company's own numbers justify (36.64 PLN). For Lubelski Wegiel Bogdanka S.A. the two are 13.74 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Lubelski Wegiel Bogdanka S.A. worth?
The market values Lubelski Wegiel Bogdanka S.A. at about 796M PLN (market capitalisation, as of Nov 8, 2026). Per share that is 22.90 PLN; our models calculate a fair value of 36.64 PLN per share.
What do the bullish and bearish scenarios say about LWB?
Our models span a range for Lubelski Wegiel Bogdanka S.A.: cautious scenario 33.44 PLN, base 36.64 PLN, optimistic 39.19 PLN per share (as of Nov 8, 2026, price 22.90 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Lubelski Wegiel Bogdanka S.A. (LWB)?
Balance-sheet figures for Lubelski Wegiel Bogdanka S.A. (as of Nov 8, 2026): return on equity −15.2%. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is LWB from its 52-week high?
Lubelski Wegiel Bogdanka S.A. trades at 22.90 PLN, about 38% below its 52-week high of 37.00 PLN and 30% above the low of 17.58 PLN (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of 36.64 PLN is for.
Which stocks are comparable to Lubelski Wegiel Bogdanka S.A.?
From the same area (Energy) we also value China Shenhua Energy Company, Shaanxi Coal Industry Company, Adani Enterprises Limited, China Coal Energy Company, 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 Lubelski Wegiel Bogdanka S.A. stock attractive at the current price?
The data as of Nov 8, 2026: price 22.90 PLN, calculated fair value 36.64 PLN (+60%), Quality Score 46/100, from 6 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 LWB calculated?
We run Lubelski Wegiel Bogdanka S.A. through 6 models from 4 families: Earnings-Based, Multiples, Asset-Based, Economic Profit. Every model gets the same audited fundamentals; the fair value of 36.64 PLN builds on their evidence-weighted average, 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. Lubelski Wegiel Bogdanka S.A. currently trades 38% 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 Lubelski Wegiel Bogdanka S.A. (LWB)?
The closing price on Nov 10, 2026 was 22.90 PLN. Our model-based fair value is 36.64 PLN, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lubelski Wegiel Bogdanka S.A. right now?
The large discount to fair value meets weak quality (46/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (33.44 PLN). The market is more pessimistic than our downside scenario.
Key figures of Lubelski Wegiel Bogdanka S.A.
How large is the market capitalisation of Lubelski Wegiel Bogdanka S.A. (LWB)?
The market capitalisation of Lubelski Wegiel Bogdanka S.A. is 796M PLN (≈ $200M). 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 Lubelski Wegiel Bogdanka S.A. (LWB)?
The price-to-sales ratio of Lubelski Wegiel Bogdanka S.A. is 0.32 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Lubelski Wegiel Bogdanka S.A. (LWB)?
Earnings per share at Lubelski Wegiel Bogdanka S.A. are −12.34 PLN. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lubelski Wegiel Bogdanka S.A. (LWB)?
The dividend yield of Lubelski Wegiel Bogdanka S.A. is 0.1%. 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 Lubelski Wegiel Bogdanka S.A. (LWB)?
The net margin of Lubelski Wegiel Bogdanka S.A. is −15.6% (last twelve months). 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 Lubelski Wegiel Bogdanka S.A. (LWB)?
The return on equity (ROE) of Lubelski Wegiel Bogdanka S.A. is −15.2% (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 Lubelski Wegiel Bogdanka S.A. (LWB)?
On an EBIT basis the return on assets of Lubelski Wegiel Bogdanka S.A. is −3.3% (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 Lubelski Wegiel Bogdanka S.A. (LWB)?
The operating margin of Lubelski Wegiel Bogdanka S.A. is 4.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lubelski Wegiel Bogdanka S.A. (LWB)?
Revenue at Lubelski Wegiel Bogdanka S.A. is growing +1.2% versus a year earlier (3y avg +5.2%). 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 Lubelski Wegiel Bogdanka S.A. (LWB)?
Earnings per share at Lubelski Wegiel Bogdanka S.A. are growing +567% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Lubelski Wegiel Bogdanka S.A. (LWB) generate?
The free cash flow of Lubelski Wegiel Bogdanka S.A. is −48.0M PLN (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Lubelski Wegiel Bogdanka S.A. (LWB) hold?
Lubelski Wegiel Bogdanka S.A. holds more cash than debt, 307M PLN net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 8, 2026