Cpi Fim SA (OPG) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Cpi Fim SA PLN 3.20, price PLN 3.58, upside -10.6%, quality 57 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 23, 2026.
How to read this chart
60‑month range 0.7950 PLN – 4.98 PLN · fair‑value band 2.39 PLN – 3.20 PLN · the 3.58 PLN price screens above the 3.20 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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CPI FIM SA, and its subsidiaries is an owner of income-generating real estate and land bank primarily in Poland and in the Czech Republic. The Company is a subsidiary of CPI Property Group (also CPIPG and together with its subsidiaries as the CPIPG Group), which holds 97.31% of the Company shares.
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CPI FIM SA, and its subsidiaries is an owner of income-generating real estate and land bank primarily in Poland and in the Czech Republic. The Company is a subsidiary of CPI Property Group (also CPIPG and together with its subsidiaries as the CPIPG Group), which holds 97.31% of the Company shares. The Company is also involved in providing equity loans to other entities within the CPIPG Group. The Company is a joint stock company incorporated for an unlimited term and registered in Luxembourg. The trade registry number of the Company is B 44 996. The Company's shares registered under ISIN code LU0122624777 are listed on the regulated markets of the Luxembourg Stock Exchange and the Warsaw Stock Exchange. CPI FIM SA was established on September 09, 1993 and incorporated in Luxembourg. CPI FIM SA registered office is 40, rue de la Vallée, L-2661 Luxembourg, Grand Duchy of Luxembourg. CPI FIM SA was incorporated on September 9th, 1993 in Luxembourg.
Stock analysis
Cpi Fim SA (OPG) currently trades at 3.58 PLN, while our model-based Fair Value estimate is 3.20 PLN, implying the stock looks roughly 11.9% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 0.8500 PLN per share, and 0 of the 4 models we run sit above the 3.58 PLN price.
Bear case: the Multiples group reads lowest at 0.7300 PLN, and 4 of the 4 models stay below the price. Evidence for this calculation is low.
Scenario range: 2.39 PLN (bear) to 3.20 PLN (bull), the price of 3.58 PLN sits above 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 57/100 (solid quality), in the Real Estate sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Cpi Fim SA reported revenue of €148M in FY2024 versus €66.6M in FY2020, a compound +22.0%/yr. Reported net income was €78.3M in FY2024, compounding −8.7%/yr from FY2020.
Key figures
Market cap 5.3B PLN (≈ $1.4B) · P/E ratio 20.5 · P/S ratio 10.9 · EPS (TTM) 0.1700 PLN · Net margin 53.0% · Return on equity 7.2% · Return on assets (EBIT) 1.7% · Operating margin 135%.
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 28% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 54% fair-value upside, at −11%, OPG screens richer than that median.
Fair Value models
Bear 2.39 PLNFair Value 3.20 PLNBull 3.20 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 2024 figures (about 12 months old). Earnings retained since then (0.1700 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.87/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+167.3%
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.
+29.7%
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.
+44.2%
Revenue growth 22 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.
+13.0%
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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.
−7.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.0%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2024 ⓘ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.266% → 12%
⚠ Revenue per share shrinking 29.2%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+52.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Poland: IMF forecast 3.1% a year to 2030, 4.6% from 2016 to 2025) that is about +48.0% a year for the price.
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.Real Estate Development · 27 stocks
Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside−11% · Below median
Profitability
Return on equity (TTM)7% · Above median
Return on assets1% · Above median
Net margin (TTM)96% · Top 25%
Operating margin (TTM)135% · Top 25%
Growth and dividend
Revenue growth−19% · Below median
Balance sheet
Debt / equity2.75× · Highest 25%
Valuation Multiplesvs Real Estate Development median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Cpi Fim SA Fair Value". https://www.fairvalue-calculator.com/stock/OPG
Frequently asked questions
Is Cpi Fim SA (OPG) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 3.20 PLN versus a price of 3.58 PLN, about −11% upside (overvalued).
What is the fair value of OPG?
Our model-based fair value for Cpi Fim SA is 3.20 PLN (as of Sep 23, 2026), built from audited fundamentals. The current price: 3.58 PLN.
What is the quality score of OPG?
Cpi Fim SA has a Quality Score of 57/100. 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 Cpi Fim SA (OPG)?
Our model-based price target is the fair value of 3.20 PLN (as of Sep 23, 2026) from 6 valuation models. Cautious scenario 2.39 PLN, optimistic scenario 3.20 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Cpi Fim SA stock forecast for 2026?
Our models put fair value at 3.20 PLN, about −11% upside versus a price of 3.58 PLN (overvalued). Cautious scenario 2.39 PLN, optimistic scenario 3.20 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Cpi Fim SA (OPG)?
Cpi Fim SA reported trailing-twelve-month revenue of about 118M PLN (latest available figure, as of Sep 23, 2026).
What growth is priced into Cpi Fim SA (OPG)?
For today's price to be fair in a discounted-cash-flow model, Cpi Fim SA would have to grow free cash flow by +52.7 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +44.2 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of OPG use?
Our models discount Cpi Fim SA at 9.3 %: a base by market capitalisation (mid), damped by beta 0.19, country premium for Poland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Cpi Fim SA that is +52.7 % per year a year over ten years, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has Cpi Fim SA (OPG) delivered so far?
Over the past 5 years revenue at Cpi Fim SA grew +44.2 % a year. The price currently implies +52.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Cpi Fim SA (OPG) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into Cpi Fim SA (+52.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Cpi Fim SA (OPG)?
The free-cash-flow yield on the price is 1.00 %: that much free cash flow Cpi Fim SA produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Cpi Fim SA (OPG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cpi Fim SA it is 3.20 PLN per share (as of Sep 23, 2026), against a price of 3.58 PLN. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Cpi Fim SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, OPG trades above its calculated fair value: price 3.58 PLN, fair value 3.20 PLN, a gap of about −11% (overvalued). 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 OPG?
No. The price is what the market pays today (3.58 PLN); the fair value is what the company's own numbers justify (3.20 PLN). For Cpi Fim SA the two are 0.3800 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Cpi Fim SA worth?
The market values Cpi Fim SA at about 5.3B PLN (market capitalisation, as of Sep 23, 2026). Per share that is 3.58 PLN; our models calculate a fair value of 3.20 PLN per share.
What do the bullish and bearish scenarios say about OPG?
Our models span a range for Cpi Fim SA: cautious scenario 2.39 PLN, base 3.20 PLN, optimistic 3.20 PLN per share (as of Sep 23, 2026, price 3.58 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of OPG?
Cpi Fim SA trades at a price-to-earnings ratio of 20.5 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 3.20 PLN is built from several models across several years. Other multiples: P/B 1.0, P/S 11.6, EV/EBITDA 64.2.
How solid is the balance sheet of Cpi Fim SA (OPG)?
Balance-sheet figures for Cpi Fim SA (as of Sep 23, 2026): return on equity 7.2%, debt of 2.75 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is OPG from its 52-week high?
Cpi Fim SA trades at 3.58 PLN, about 28% below its 52-week high of 4.98 PLN and 11% above the low of 3.22 PLN (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 3.20 PLN is for.
Which stocks are comparable to Cpi Fim SA?
From the same area (Real Estate) we also value NIRLON, BRRL, ARIHANT, MODIS, 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 Cpi Fim SA stock attractive at the current price?
The data as of Sep 23, 2026: price 3.58 PLN, calculated fair value 3.20 PLN (−11%), Quality Score 57/100, 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 OPG calculated?
We run Cpi Fim SA through 6 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 3.20 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. Cpi Fim SA itself currently trades above fair value. 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 Cpi Fim SA (OPG)?
The closing price on Sep 23, 2026 was 3.58 PLN. Our model-based fair value is 3.20 PLN, about −11% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cpi Fim SA right now?
The price sits above even our optimistic bull case (3.20 PLN). The favourable scenario is already priced in. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Cpi Fim SA
How large is the market capitalisation of Cpi Fim SA (OPG)?
The market capitalisation of Cpi Fim SA is 5.3B PLN (≈ $1.4B). 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 Cpi Fim SA (OPG)?
The price-to-sales ratio of Cpi Fim SA is 10.9 (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 Cpi Fim SA (OPG)?
Earnings per share at Cpi Fim SA are 0.1700 PLN (price ÷ EPS = P/E 20.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cpi Fim SA (OPG)?
The net margin of Cpi Fim SA is 53.0% (fiscal year 2024). 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 Cpi Fim SA (OPG)?
The return on equity (ROE) of Cpi Fim SA is 7.2% (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 Cpi Fim SA (OPG)?
On an EBIT basis the return on assets of Cpi Fim SA is 1.7% (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 Cpi Fim SA (OPG)?
The operating margin of Cpi Fim SA is 135% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cpi Fim SA (OPG)?
Revenue at Cpi Fim SA is growing −18.6% versus a year earlier (3y avg +29.7%). 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 Cpi Fim SA (OPG)?
Earnings per share at Cpi Fim SA are growing +81.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Cpi Fim SA (OPG) carry?
The net debt of Cpi Fim SA is 4.0B PLN (fiscal year 2024, ≈ 85.5 yrs of FCF). 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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