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Monnari Trade S.A (MON) Fair Value & Analysis

Consumer Cyclical · PL · Market cap 146M PLN

MT Monnari Trade S.A MON · WAR
Price5.50 PLN
Fair Value12.21 PLN
Upside+122.0%
Quality56/100
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Expensive Growth
Thin margins · 4.9% net margin
Low debt · negative free cash flow
Ranks above peers (11/12)
Narrow moat 31/100
Evidence: High Range 9.77 PLN – 13.34 PLN Share as image

Fair value as of: Jul 16, 2026

From 17 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 12.99 PLN to 12.21 PLN (−6.0%) since Jun 25, 2026. Share price −2.1% over the past month.

A solid business, screening 122% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (9.77 PLN). The market is more pessimistic than our downside scenario.
  • Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

7.48 PLN 2.36 PLN Fair Value 12.21 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 2.36 PLN – 7.48 PLN · fair‑value band 9.77 PLN – 13.34 PLN · the 5.50 PLN price screens below the 12.21 PLN fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Monnari Trade S.A (MON) currently trades at 5.50 PLN, while our model-based Fair Value estimate is 12.21 PLN, implying the stock looks roughly 122.0% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Cyclical 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, Monnari Trade S.A generated revenue of 356M PLN at a net margin of 6.6%. Revenue grew 7.2% year over year. It earns a return on equity of 7.4%. The balance sheet holds a net cash position of 5.6M PLN. Fundamentals as of Jul 16, 2026

Our scenario range runs from 9.77 PLN (bear case) to 13.34 PLN (bull case); at 5.50 PLN, the current price sits below 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 27% below its 52-week high and 22% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at 122%, MON 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 9.33 PLN 9.42 PLN 8.92 PLN 76
ROIC Compounder 9.78 PLN 10.85 PLN 11.71 PLN 72
Gordon GGM 1.64 PLN 2.74 PLN 3.56 PLN 70
All 17 models by family
DCF Models
Owner Earnings 9.25 PLN 13.08 PLN 18.11 PLN 31
Earnings-Based
Graham-Dodd 6.22 PLN 22.65 PLN 30.57 PLN 54
Lynch FV 5.39 PLN 7.70 PLN 10.01 PLN 50
PEG = 1.0 5.39 PLN 7.70 PLN 10.01 PLN 46
EPV 9.78 PLN 10.85 PLN 11.71 PLN 59
Dividend Discount
Gordon GGM 1.64 PLN 2.74 PLN 3.56 PLN 70
DDM Multi-Stage 1.64 PLN 2.60 PLN 2.95 PLN 61
Multiples
P/E Multiple 15.09 PLN 20.12 PLN 25.14 PLN 63
P/S Multiple 11.66 PLN 15.54 PLN 19.43 PLN 58
P/B Multiple 11.66 PLN 15.54 PLN 19.43 PLN 55
EV/EBIT 20.94 PLN 27.63 PLN 34.32 PLN 53
EV/EBITDA 17.02 PLN 22.41 PLN 27.80 PLN 54
EV/Revenue 12.46 PLN 17.42 PLN 22.39 PLN 43
Asset-Based
NCAV (Graham) 6.39 PLN 8.57 PLN 12.79 PLN 50
Economic Profit
Residual Income 9.33 PLN 9.42 PLN 8.92 PLN 76
ROIC Compounder 9.78 PLN 10.85 PLN 11.71 PLN 72
Growth Earnings
Growth-Adj P/E 10.46 PLN 14.94 PLN 19.43 PLN 68

Widest divergence: Multiples (17.42 PLN) versus Dividend Discount (2.60 PLN). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 363M PLN
Revenue growth (YoY) +9.3%
Net margin 4.9%
Return on equity 5.5%
Free cash flow −27.1M PLN FY2025
Operating margin -3.4%
More key figures
EPS (TTM) -21.09 PLN
EPS growth (YoY) +85.1%
Net cash 5.6M PLN FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 55 · Market factors (momentum, volatility) 49

Profitability 55
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 84
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 38
Distance to the 52-week high (market factor)
Net Issuance 75
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

Monnari Trade S.A. designs, produces, markets, and sells clothing products and accessories for women in Poland. It sells its products under the MONNARI brand through its network of stores and online. The company was formerly known as MONNARI s.c. and changed its name to Monnari Trade S.A. in 2000. Monnari Trade S.A.

Full company description

Monnari Trade S.A. designs, produces, markets, and sells clothing products and accessories for women in Poland. It sells its products under the MONNARI brand through its network of stores and online. The company was formerly known as MONNARI s.c. and changed its name to Monnari Trade S.A. in 2000. Monnari Trade S.A. was founded in 1998 and is headquartered in Ló Lódz, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Monnari Trade S.A reported revenue of 356M PLN in FY2025 versus 232M PLN in FY2021, a compound +11.2%/yr. Reported net income was 23.6M PLN in FY2025, compounding +6.6%/yr from FY2021.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
356M PLN
Latest YoY
+13.0%
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.
+7.3%
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.
+11.2%
Avg. growth/yr (20Y) 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.
+10.6%
Revenue +11.2%/yr
FY21 232M PLN
FY22 288M PLN
FY23 310M PLN
FY24 315M PLN
FY25 356M PLN
Net income +6.6%/yr
FY21 18.3M PLN
FY22 57.4M PLN
FY23 18.4M PLN
FY24 21.9M PLN
FY25 23.6M PLN

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

Peer Group

Apparel Manufacturing · 212 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 56 · Above median
Fair Value upside +122% · Top 25%
Return on equity (TTM) 5% · Above median
Return on assets 4% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) -3% · Bottom 25%
Revenue growth 9% · Above median

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/B 0.12× · Cheaper than 75% of peers
P/S (TTM) 0.11× · Cheaper than 75% of peers
EV/EBITDA 0.7× · Cheaper than 75% of peers
PEG 1.16× · Cheaper than median

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 100 · sector 32
FUTURE 47 · sector 4
PAST 22 · sector 21
HEALTH 100 · sector 98
DIVIDEND 0 · sector 49

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 Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 163.45 kr 165.47 +1%
Ralph Lauren Corporation RL $374.08 $224.21 -40%
Moncler S.p.A MONC €52.08 €50.69 -3%
LPP SA LPP 19,380 PLN 17,754 PLN -8%
Bosideng International Holdings 3998 HK$4.88 HK$5.92 +21%
Youngor Fashion Co 600177 ¥7.57 ¥5.59 -26%
Page Industries Limited PAGEIND ₹39,900 ₹12,395 -69%
Hla Group 600398 ¥6.05 ¥9.92 +64%
Eclat Textile Co 1476 333.50 TWD 357.81 TWD +7%
Youngone Corporation 111770 87,600 KRW 196,629 KRW +124%

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Frequently asked questions

Is Monnari Trade S.A (MON) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 12.21 PLN versus a price of 5.50 PLN, about +122% (undervalued).
What is the fair value of MON?
Our model-based fair value for Monnari Trade S.A is 12.21 PLN (as of Jul 16, 2026), built from audited fundamentals. The current price is 5.50 PLN.
What is the quality score of MON?
Monnari Trade S.A has a Quality Score of 56/100. 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 Monnari Trade S.A (MON)?
Monnari Trade S.A reported trailing-twelve-month revenue of about 356M PLN (latest available figure, as of Jul 16, 2026).
What is the net profit margin of MON?
The net profit margin of Monnari Trade S.A is about 6.6%, meaning it keeps roughly 6.6% 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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