PA Nova S.A. (NVA) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of PA Nova S.A. PLN 38.02, price PLN 18.85, upside +101.7%, quality 45 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 8.12 PLN – 19.40 PLN · fair‑value band 27.64 PLN – 46.85 PLN · the 18.85 PLN price screens below the 38.02 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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P.A. Nova S.A. engages in the construction business in Poland.
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P.A. Nova S.A. engages in the construction business in Poland. It is involved in the execution of general and industrial construction facilities; provision of design services; development activities; management of a portfolio of real estate; and delivery and implementation of computer systems, such as CAD/PDM/GIS, as well as training of engineers and designers. The company was founded in 1987 and is headquartered in Gliwice, Poland.
Stock analysis
PA Nova S.A. (NVA) currently trades at 18.85 PLN, while our model-based Fair Value estimate is 38.02 PLN, implying the stock looks roughly 50.4% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 38.43 PLN per share, and 11 of the 14 models we run sit above the 18.85 PLN price.
Bear case: the Earnings-Based group reads lowest at 13.43 PLN, and 3 of the 14 models stay below the price. Evidence for this calculation is medium.
Scenario range: 27.64 PLN (bear) to 46.85 PLN (bull), the price of 18.85 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 45/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
PA Nova S.A. reported revenue of 246M PLN in FY2025 versus 200M PLN in FY2021, a compound +5.4%/yr. Reported net income was 22.0M PLN in FY2025, compounding −1.6%/yr from FY2021.
Key figures
Market cap 188M PLN (≈ $48.9M) · P/E ratio 7.6 · P/S ratio 0.68 · EPS (TTM) 2.49 PLN · Net margin 8.9% · Return on equity 4.9% · Return on assets (EBIT) 5.0% · Operating margin 26.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 3% below its 52-week high and 35% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 102%, NVA screens cheaper than that median.
Fair Value models
Bear 27.64 PLNFair Value 38.02 PLNBull 46.85 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 (1.82 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.48/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−13.2%
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.
+6.1%
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.
+10.0%
Start year 2020 (pandemic). Over 10 years: +5.9% 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.
+3.2%
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What shareholders gained per year (last 5 years) ⓘ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.
−1.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.3%
Dividend (yield on the price)0.0%
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.−1% vs 1%, steady
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.20% → 16%
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.Engineering & Construction · 836 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score45 · Below median
Fair Value upside+102% · Top 25%
Profitability
Return on equity (TTM)5% · Below median
Return on assets3% · Above median
Net margin (TTM)11% · Top 25%
Operating margin (TTM)26% · Top 25%
Growth and dividend
Revenue growth−30% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Balance sheet
Debt / equity0.51× · Highest 25%
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "PA Nova S.A. Fair Value". https://www.fairvalue-calculator.com/stock/NVA
Frequently asked questions
Is PA Nova S.A. (NVA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 38.02 PLN versus a price of 18.85 PLN, about +102% upside (undervalued).
What is the fair value of NVA?
Our model-based fair value for PA Nova S.A. is 38.02 PLN (as of Sep 24, 2026), built from audited fundamentals. The current price: 18.85 PLN.
What is the quality score of NVA?
PA Nova S.A. has a Quality Score of 45/100. 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 PA Nova S.A. (NVA)?
Our model-based price target is the fair value of 38.02 PLN (as of Sep 24, 2026) from 14 valuation models. Cautious scenario 27.64 PLN, optimistic scenario 46.85 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the PA Nova S.A. stock forecast for 2026?
Our models put fair value at 38.02 PLN, about +102% upside versus a price of 18.85 PLN (undervalued). Cautious scenario 27.64 PLN, optimistic scenario 46.85 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of PA Nova S.A. (NVA)?
PA Nova S.A. reported trailing-twelve-month revenue of about 228M PLN (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of PA Nova S.A. (NVA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PA Nova S.A. it is 38.02 PLN per share (as of Sep 24, 2026), against a price of 18.85 PLN. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is PA Nova S.A. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, NVA trades below its calculated fair value: price 18.85 PLN, fair value 38.02 PLN, a gap of about +102% (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 NVA?
No. The price is what the market pays today (18.85 PLN); the fair value is what the company's own numbers justify (38.02 PLN). For PA Nova S.A. the two are 19.17 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is PA Nova S.A. worth?
The market values PA Nova S.A. at about 188M PLN (market capitalisation, as of Sep 24, 2026). Per share that is 18.85 PLN; our models calculate a fair value of 38.02 PLN per share.
What do the bullish and bearish scenarios say about NVA?
Our models span a range for PA Nova S.A.: cautious scenario 27.64 PLN, base 38.02 PLN, optimistic 46.85 PLN per share (as of Sep 24, 2026, price 18.85 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NVA?
PA Nova S.A. trades at a price-to-earnings ratio of 7.6 (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 38.02 PLN is built from several models across several years. Other multiples: P/B 0.1, P/S 0.2, EV/EBITDA 5.5.
How solid is the balance sheet of PA Nova S.A. (NVA)?
Balance-sheet figures for PA Nova S.A. (as of Sep 24, 2026): return on equity 4.9%, debt of 0.51 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is NVA from its 52-week high?
PA Nova S.A. trades at 18.85 PLN, about 3% below its 52-week high of 19.40 PLN and 35% above the low of 14.01 PLN (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 38.02 PLN is for.
Which stocks are comparable to PA Nova S.A.?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, 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 PA Nova S.A. stock attractive at the current price?
The data as of Sep 24, 2026: price 18.85 PLN, calculated fair value 38.02 PLN (+102%), Quality Score 45/100, from 14 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 NVA calculated?
We run PA Nova S.A. through 14 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 38.02 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 14.1 % above its aggregate fair value. PA Nova S.A. currently trades 102 % 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 PA Nova S.A. (NVA)?
The closing price on Sep 23, 2026 was 18.85 PLN. Our model-based fair value is 38.02 PLN, about +102% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PA Nova S.A. right now?
The price is below even our cautious bear case (27.64 PLN). The market is more pessimistic than our downside scenario. Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of PA Nova S.A. (NVA) come from?
Earnings per share at PA Nova S.A. grew +4.6 % a year from 2013 to 2024. Broken into its drivers: revenue per share +6.4 %, EBIT margin −1.1 %, tax rate −0.2 %, residual (interest, one-offs) −0.4 %. 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 PA Nova S.A.
How large is the market capitalisation of PA Nova S.A. (NVA)?
The market capitalisation of PA Nova S.A. is 188M PLN (≈ $48.9M). 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 PA Nova S.A. (NVA)?
The price-to-sales ratio of PA Nova S.A. is 0.68 (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 PA Nova S.A. (NVA)?
Earnings per share at PA Nova S.A. are 2.49 PLN (price ÷ EPS = P/E 7.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of PA Nova S.A. (NVA)?
The net margin of PA Nova S.A. is 8.9% (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 PA Nova S.A. (NVA)?
The return on equity (ROE) of PA Nova S.A. is 4.9% (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 PA Nova S.A. (NVA)?
On an EBIT basis the return on assets of PA Nova S.A. is 5.0% (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 PA Nova S.A. (NVA)?
The operating margin of PA Nova S.A. is 26.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PA Nova S.A. (NVA)?
Revenue at PA Nova S.A. is growing −29.9% versus a year earlier (3y avg +6.1%). 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 PA Nova S.A. (NVA)?
Earnings per share at PA Nova S.A. are growing +44.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does PA Nova S.A. (NVA) generate?
The free cash flow of PA Nova S.A. is −22.4M 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 debt does PA Nova S.A. (NVA) carry?
The net debt of PA Nova S.A. is 297M PLN (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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