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MFO S.A (MFO) Fair Value & Analysis

Industrials · PL · Market cap 188M PLN

MS MFO S.A MFO · WAR
Price33.20 PLN
Fair Value44.24 PLN
Upside+33.3%
Quality49/100
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Expensive Growth
Thin margins · 1.3% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/12)
Narrow moat 27/100
Evidence: High Range 33.19 PLN – 48.52 PLN Share as image

Fair value as of: Jul 12, 2026

From 16 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from 32.41 PLN to 44.24 PLN (+36.5%) since Jun 24, 2026. Share price +16.9% over the past month.

Below-average quality, screening 33% undervalued on our models.

What matters now

  • Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from 33.19 PLN (bear) to 48.52 PLN (bull), base 44.24 PLN. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 49/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

54.88 PLN 24.00 PLN Fair Value 44.24 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 24.00 PLN – 54.88 PLN · fair‑value band 33.19 PLN – 48.52 PLN · the 33.20 PLN price screens below the 44.24 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

MFO S.A (MFO) currently trades at 33.20 PLN, while our model-based Fair Value estimate is 44.24 PLN, implying the stock looks roughly 33.3% undervalued today. The Quality Score stands at 49/100 (below-average 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, MFO S.A generated revenue of 685M PLN at a net margin of 1.5%. Revenue grew 13.0% year over year. It earns a return on equity of 3.2%. Net debt stands at 36.8M PLN. Fundamentals as of Jul 12, 2026

Our scenario range runs from 33.19 PLN (bear case) to 48.52 PLN (bull case); at 33.20 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 22% below its 52-week high and 16% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -72% fair-value upside, at 33%, MFO 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.

Model 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
Highest evidence
Residual Income 32.31 PLN 31.00 PLN 23.65 PLN 76
ROIC Compounder 19.75 PLN 22.00 PLN 23.83 PLN 72
Gordon GGM 27.86 PLN 46.67 PLN 60.57 PLN 70
All 16 models by family
Earnings-Based
Graham-Dodd 10.37 PLN 43.95 PLN 60.00 PLN 54
Lynch FV 11.20 PLN 15.99 PLN 20.79 PLN 50
PEG = 1.0 11.20 PLN 15.99 PLN 20.79 PLN 46
EPV 19.75 PLN 22.00 PLN 23.83 PLN 59
Dividend Discount
Gordon GGM 27.86 PLN 46.67 PLN 60.57 PLN 70
DDM Multi-Stage 27.86 PLN 44.26 PLN 50.21 PLN 61
Multiples
P/E Multiple 24.02 PLN 32.02 PLN 40.03 PLN 63
P/S Multiple 19.44 PLN 25.92 PLN 32.40 PLN 58
P/B Multiple 19.44 PLN 25.92 PLN 32.40 PLN 55
EV/EBIT 38.22 PLN 50.64 PLN 63.06 PLN 53
EV/EBITDA 44.71 PLN 59.30 PLN 73.88 PLN 54
EV/Revenue 27.56 PLN 38.95 PLN 50.35 PLN 43
Asset-Based
NCAV (Graham) 24.40 PLN 32.70 PLN 48.81 PLN 50
Economic Profit
Residual Income 32.31 PLN 31.00 PLN 23.65 PLN 76
ROIC Compounder 19.75 PLN 22.00 PLN 23.83 PLN 72
Growth Earnings
Growth-Adj P/E 18.91 PLN 27.01 PLN 35.12 PLN 68

Widest divergence: Dividend Discount (44.26 PLN) versus Earnings-Based (15.99 PLN). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 689M PLN
Revenue growth (YoY) +2.2%
Net margin 1.3%
Return on equity 2.8%
Free cash flow −52.1M PLN FY2025
P/E ratio 20.9
More key figures
Operating margin 2.3%
EPS (TTM) 1.36 PLN
EPS growth (YoY) -30.2%
Net debt 36.8M PLN FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 47 · Market factors (momentum, volatility) 45

Profitability 36
Margins and returns on capital today
Quality Growth 60
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 52
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 31
Price trend over the last 3–12 months (market factor)
52W Momentum 37
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

MFO S.A. manufactures and sells steel profiles in Poland. The company offers CD profiles, UD and UA profiles, CW and UW standard profiles, and CW and UW eco profiles for drywall framing applications; mounting rails for ventilation and air conditioning, and electrical installation applications; and steel sections for technical flooring systems applications.

Full company description

MFO S.A. manufactures and sells steel profiles in Poland. The company offers CD profiles, UD and UA profiles, CW and UW standard profiles, and CW and UW eco profiles for drywall framing applications; mounting rails for ventilation and air conditioning, and electrical installation applications; and steel sections for technical flooring systems applications. It also provides steel profiles for furniture industry, rack system, and semi-trailer and truck body applications; and steel posts for applications in fencing systems and gates. The company was incorporated in 2011 and is based in Sochaczew, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MFO S.A reported revenue of 685M PLN in FY2025 versus 990M PLN in FY2021, a compound −8.8%/yr. Reported net income was 10.1M PLN in FY2025, compounding −47.5%/yr from FY2021.

Growth Quality 49/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
685M PLN
Latest YoY
+11.1%
Avg. growth/yr (3Y) 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.
−9.4%
Avg. growth/yr (5Y) 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.
+10.2%
Avg. growth/yr (13Y) 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.
+11.7%
Revenue −8.8%/yr
FY21 990M PLN
FY22 923M PLN
FY23 576M PLN
FY24 617M PLN
FY25 685M PLN
Net income −47.5%/yr
FY21 133M PLN
FY22 24.6M PLN
FY23 −14.8M PLN
FY24 7.2M PLN
FY25 10.1M PLN
Character of growth · EPS growth decomposed (2013-2024) +6.0 % p.a.
Revenue per share +14.6 pp

of which total revenue +16.4 pp · buybacks/dilution −1.8 pp

EBIT margin −6.0 pp
Tax rate +0.0 pp
Residual (interest, one-offs) −2.5 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "MFO S.A Fair Value". https://www.fairvalue-calculator.com/stock/MFO

Peer Group

Metal Fabrication · 245 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.

Quality Score 49 · Below median
Fair Value upside +33% · Top 25%
Return on equity (TTM) 3% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 2% · Below median
Revenue growth 2% · Below median
Debt / equity 0.13× · Higher than median

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 20.9× · Cheaper than median
P/B 0.16× · Cheaper than 75% of peers
P/S (TTM) 0.07× · Cheaper than 75% of peers
EV/EBITDA 1.8× · Cheaper than 75% of peers

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.

VALUE 78 · sector 0
FUTURE 11 · sector 35
PAST 11 · sector 21
HEALTH 93 · sector 95
DIVIDEND 0 · sector 24

Values & ESG

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

None of the checked exposures detected

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

Similar stocks

10 more Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

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Frequently asked questions

Is MFO S.A (MFO) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 44.24 PLN versus a price of 33.20 PLN, about +33% (undervalued).
What is the fair value of MFO?
Our model-based fair value for MFO S.A is 44.24 PLN (as of Jul 12, 2026), built from audited fundamentals. The current price is 33.20 PLN.
What is the quality score of MFO?
MFO S.A has a Quality Score of 49/100. 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 revenue of MFO S.A (MFO)?
MFO S.A reported trailing-twelve-month revenue of about 685M PLN (latest available figure, as of Jul 12, 2026).
What is the net profit margin of MFO?
The net profit margin of MFO S.A is about 1.5%, meaning it keeps roughly 1.5% of revenue as net income. Based on the latest reported figures.

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.

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