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Marvipol Development S.A (MVP) Fair Value & Analysis

Real Estate · PL · Market cap 359M PLN

MD Marvipol Development S.A MVP · WAR
Price8.36 PLN
Fair Value21.55 PLN
Upside+157.8%
Quality64/100
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Healthy Growth
Solidly profitable · 12.0% net margin
Moderate debt · generates free cash flow
Ranks above peers (9/14)
Narrow moat 38/100
Evidence: High Range 12.41 PLN – 29.52 PLN Share as image

Fair value as of: Jul 16, 2026

From 16 valuation models · updated 25 days ago

Fair value updated Jul 16, 2026, revised from 20.95 PLN to 21.55 PLN (+2.9%) since Jun 26, 2026. Share price −1.6% over the past month.

A solid business, screening 158% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (12.41 PLN). The market is more pessimistic than our downside scenario.
  • Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (12.41 PLN to 29.52 PLN) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

10.25 PLN 3.64 PLN Fair Value 21.55 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 3.64 PLN – 10.25 PLN · fair‑value band 12.41 PLN – 29.52 PLN · the 8.36 PLN price screens below the 21.55 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Marvipol Development S.A (MVP) currently trades at 8.36 PLN, while our model-based Fair Value estimate is 21.55 PLN, implying the stock looks roughly 157.8% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Real Estate 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, Marvipol Development S.A generated revenue of 548M PLN at a net margin of 10.6%. Revenue declined 68.5% year over year. It earns a return on equity of 8.1%. Net debt stands at 238M PLN. Fundamentals as of Jul 16, 2026

Our scenario range runs from 12.41 PLN (bear case) to 29.52 PLN (bull case); at 8.36 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 19% below its 52-week high and 40% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 158%, MVP 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
Growth DCF 4.97 PLN 11.08 PLN 19.88 PLN 80
Residual Income 13.78 PLN 14.45 PLN 15.13 PLN 76
Rev-Margin DCF 11.67 PLN 25.74 PLN 43.92 PLN 74
All 16 models by family
DCF Models
FCF DCF 5.14 PLN 12.12 PLN 22.84 PLN 38
5Y Revenue Exit 11.67 PLN 26.29 PLN 46.46 PLN 39
5Y EBITDA Exit 17.63 PLN 38.58 PLN 65.26 PLN 41
10Y Revenue Exit 8.35 PLN 20.60 PLN 39.87 PLN 36
10Y EBITDA Exit 12.57 PLN 28.84 PLN 54.27 PLN 37
Dividend Discount
Gordon GGM 4.66 PLN 8.40 PLN 11.56 PLN 70
DDM Multi-Stage 4.66 PLN 7.67 PLN 8.97 PLN 61
Multiples
P/S Multiple 17.81 PLN 23.74 PLN 29.68 PLN 58
P/B Multiple 17.81 PLN 23.74 PLN 29.68 PLN 55
EV/EBIT 33.24 PLN 46.06 PLN 58.88 PLN 53
EV/EBITDA 27.88 PLN 38.90 PLN 49.93 PLN 54
EV/Revenue 16.00 PLN 25.08 PLN 34.17 PLN 43
Asset-Based
NCAV (Graham) 8.78 PLN 11.76 PLN 17.55 PLN 50
Growth DCF
Growth DCF 4.97 PLN 11.08 PLN 19.88 PLN 80
Rev-Margin DCF 11.67 PLN 25.74 PLN 43.92 PLN 74
Economic Profit
Residual Income 13.78 PLN 14.45 PLN 15.13 PLN 76

Widest divergence: DCF Models (26.29 PLN) versus Dividend Discount (7.67 PLN). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 548M PLN
Revenue growth (YoY) -68.5%
Net margin 10.6%
Return on equity 8.1%
Free cash flow 40.6M PLN FY2025
P/E ratio 5.5
More key figures
Operating margin 11.0%
EPS (TTM) 1.58 PLN
EPS growth (YoY) -98.9%
Net debt 238M PLN FY2025

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

Quality Score breakdown

Overall quality 64/100

Of which business quality 62 · Market factors (momentum, volatility) 56

Profitability 33
Margins and returns on capital today
Quality Growth 89
Are margins and returns improving?
Cashflow 48
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 80
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 52
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

Marvipol Development S.A. develops residential projects in Poland. It operates through Development, Warehouse, and Other Real Estate Assets segments. The company develops multi-family housing projects, including apartments, as well as commercial premises.

Full company description

Marvipol Development S.A. develops residential projects in Poland. It operates through Development, Warehouse, and Other Real Estate Assets segments. The company develops multi-family housing projects, including apartments, as well as commercial premises. It also engages in the investment in construction and commercialization projects for sale; and undeveloped real estate projects. The company was founded in 1996 and is headquartered in Warsaw, Poland. Marvipol Development S.A. operates as a subsidiary of Ksiazek Holding Sp. Z.o.o.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Marvipol Development S.A reported revenue of 548M PLN in FY2025 versus 394M PLN in FY2021, a compound +8.6%/yr. Reported net income was 58.2M PLN in FY2025, compounding −11.7%/yr from FY2021.

Growth Quality 69/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
548M PLN
Latest YoY
+18.6%
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.
−2.4%
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.
+4.9%
Avg. growth/yr (11Y) 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.
−2.8%
Revenue +8.6%/yr
FY21 394M PLN
FY22 589M PLN
FY23 378M PLN
FY24 462M PLN
FY25 548M PLN
Net income −11.7%/yr
FY21 95.7M PLN
FY22 89.9M PLN
FY23 55.3M PLN
FY24 31.7M PLN
FY25 58.2M PLN
Character of growth · EPS growth decomposed (2014-2025) −2.8 % p.a.
Revenue per share −6.3 pp

of which total revenue −2.0 pp · buybacks/dilution −4.3 pp

EBIT margin +5.4 pp
Tax rate −1.8 pp
Residual (interest, one-offs) −0.2 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). "Marvipol Development S.A Fair Value". https://www.fairvalue-calculator.com/stock/MVP

Peer Group

Real Estate - Development · 588 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 65 · Top 25%
Fair Value upside +158% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 4% · Top 25%
Net margin (TTM) 12% · Above median
Operating margin (TTM) -9% · Bottom 25%
Revenue growth -6% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.62× · Higher than median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 5.5× · Cheaper than 75% of peers
P/B 0.13× · Cheaper than 75% of peers
P/S (TTM) 0.18× · Cheaper than 75% of peers
P/FCF 2.4× · Pricier than median
EV/EBITDA 3.2× · 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 100 · sector 48
FUTURE 0 · sector 0
PAST 37 · sector 10
HEALTH 69 · sector 84
DIVIDEND 0 · sector 38

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Marvipol Development S.A (MVP) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 21.55 PLN versus a price of 8.36 PLN, about +158% (undervalued).
What is the fair value of MVP?
Our model-based fair value for Marvipol Development S.A is 21.55 PLN (as of Jul 16, 2026), built from audited fundamentals. The current price is 8.36 PLN.
What is the quality score of MVP?
Marvipol Development S.A has a Quality Score of 64/100. 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 Marvipol Development S.A (MVP)?
Marvipol Development S.A reported trailing-twelve-month revenue of about 548M PLN (latest available figure, as of Jul 16, 2026).
What is the net profit margin of MVP?
The net profit margin of Marvipol Development S.A is about 10.6%, meaning it keeps roughly 10.6% 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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