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Orange Polska S.A (OPL) Fair Value & Analysis

Communication Services · PL · Market cap 19.1B PLN

OP Orange Polska S.A OPL · WAR
Price15.38 PLN
Fair Value10.41 PLN
Upside-32.3%
Quality53/100
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Expensive Growth
Thin margins · 6.6% net margin
Low debt · generates free cash flow
4.27% dividend yield
Ranks above peers (9/15)
Narrow moat 43/100
Evidence: High Range 8.41 PLN – 15.21 PLN Share as image

Fair value as of: Jul 19, 2026

From 24 valuation models · updated 21 days ago

Share price +10.3% over the past month.

A solid business, but screening 32% overvalued on our models.

What matters now

  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (8.41 PLN to 15.21 PLN) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

16.38 PLN 3.97 PLN Fair Value 10.41 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range 3.97 PLN – 16.38 PLN · fair‑value band 8.41 PLN – 15.21 PLN · the 15.38 PLN price screens above the 10.41 PLN fair value. Dashed = 300-day average. As of Jul 19, 2026.

Full chart & analysis →

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Analysis

Orange Polska S.A (OPL) currently trades at 15.38 PLN, while our model-based Fair Value estimate is 10.41 PLN, implying the stock looks roughly 32.3% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Orange Polska S.A generated revenue of 13.2B PLN at a net margin of 6.6%. Revenue grew 1.0% year over year. It earns a return on equity of 6.3%. Net debt stands at 3.7B PLN. Fundamentals as of Jul 19, 2026

Our scenario range runs from 8.41 PLN (bear case) to 15.21 PLN (bull case); at 15.38 PLN, the current price sits above 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 7% below its 52-week high and 83% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at -32%, OPL screens richer 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 BearBaseBull Evidence
Highest evidence
Growth DCF 4.17 PLN 5.98 PLN 9.07 PLN 80
Residual Income 8.13 PLN 8.42 PLN 8.44 PLN 76
Rev-Margin DCF 6.63 PLN 10.95 PLN 16.17 PLN 74
All 24 models by family
DCF Models
FCF DCF 3.95 PLN 5.81 PLN 9.26 PLN 38
Owner Earnings 3.01 PLN 4.50 PLN 7.27 PLN 31
5Y Revenue Exit 6.63 PLN 10.84 PLN 16.98 PLN 39
5Y EBITDA Exit 15.98 PLN 27.04 PLN 41.67 PLN 41
5Y P/E Exit 6.08 PLN 9.89 PLN 14.44 PLN 38
10Y Revenue Exit 5.28 PLN 8.33 PLN 11.67 PLN 36
10Y EBITDA Exit 11.22 PLN 18.34 PLN 26.17 PLN 37
10Y P/E Exit 5.21 PLN 7.74 PLN 10.18 PLN 35
Earnings-Based
Graham-Dodd 3.95 PLN 4.83 PLN 5.43 PLN 54
EPV 8.38 PLN 9.91 PLN 11.24 PLN 59
Dividend Discount
Gordon GGM 4.87 PLN 5.33 PLN 6.03 PLN 70
DDM Multi-Stage 4.87 PLN 6.11 PLN 7.85 PLN 61
Multiples
P/E Multiple 9.58 PLN 12.77 PLN 15.97 PLN 63
P/S Multiple 7.40 PLN 9.87 PLN 12.34 PLN 58
P/B Multiple 7.40 PLN 9.87 PLN 12.34 PLN 55
EV/EBIT 12.29 PLN 16.65 PLN 21.01 PLN 53
EV/EBITDA 27.62 PLN 37.09 PLN 46.56 PLN 54
EV/Revenue 9.13 PLN 13.38 PLN 17.63 PLN 43
Asset-Based
NCAV (Graham) 5.15 PLN 6.90 PLN 10.31 PLN 50
Growth DCF
Growth DCF 4.17 PLN 5.98 PLN 9.07 PLN 80
Rev-Margin DCF 6.63 PLN 10.95 PLN 16.17 PLN 74
Economic Profit
Residual Income 8.13 PLN 8.42 PLN 8.44 PLN 76
ROIC Compounder 8.38 PLN 9.91 PLN 11.56 PLN 72
Growth Earnings
Growth-Adj P/E 6.75 PLN 9.65 PLN 12.54 PLN 68

Widest divergence: Multiples (12.77 PLN) versus Earnings-Based (4.83 PLN). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 13.2B PLN
Revenue growth (YoY) +1.0%
Net margin 6.6%
Return on equity 6.3%
Free cash flow 640M PLN FY2025
P/E ratio 24.2
More key figures
Operating margin 12.7%
EPS (TTM) 0.6500 PLN
Dividend yield 3.9%
EPS growth (YoY) +54.5%
Net debt 3.7B PLN FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 51 · Market factors (momentum, volatility) 86

Profitability 32
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 56
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 66
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 80
Price trend over the last 3–12 months (market factor)
52W Momentum 97
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

Orange Polska S.A., together with its subsidiaries, provides telecommunications services for individuals, small and large businesses, and corporations in Poland.

Full company description

Orange Polska S.A., together with its subsidiaries, provides telecommunications services for individuals, small and large businesses, and corporations in Poland. The company offers mobile and fixed telecommunications services, including calls, messaging, content, and access to the Internet and TV; and information technology and integration services, leased lines, and other value-added telecommunication services. It also engages in the sale of telecommunications equipment; provision of data transmission services; and construction of telecommunications infrastructure. In addition, the company is involved in the local operation of fibre infrastructure; provision of training, insurance agency, and charity foundation services; management of employee pension funds; and point of sale rental business. The company was incorporated in 1991 and is based in Warsaw, Poland. Orange Polska S.A. operates as a subsidiary of Orange S.A.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Orange Polska S.A reported revenue of 13.1B PLN in FY2025 versus 11.9B PLN in FY2021, a compound +2.4%/yr. Reported net income was 762M PLN in FY2025, compounding −17.8%/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)
13.1B PLN
Latest YoY
+3.1%
Avg. growth/yr (3Y)
+1.7%
Avg. growth/yr (5Y)
+2.7%
Avg. growth/yr (20Y)
−1.7%
Revenue +2.4%/yr
FY21 11.9B PLN
FY22 12.5B PLN
FY23 13.0B PLN
FY24 12.7B PLN
FY25 13.1B PLN
Net income −17.8%/yr
FY21 1.7B PLN
FY22 724M PLN
FY23 818M PLN
FY24 913M PLN
FY25 762M PLN

OPL screens 32% overvalued. Compare with China Mobile Limited →

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

Peer Group

Telecom Services · 252 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 53 · Below median
Fair Value upside −32% · Below median
Return on equity (TTM) 6% · Below median
Return on assets 3% · Above median
Net margin (TTM) 7% · Above median
Operating margin (TTM) 13% · Above median
Revenue growth 1% · Below median
Dividend yield (TTM) 4.3% · Above median
Debt / equity 0.12× · Lower than median

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 22.3× · Pricier than median
P/B 0.38× · Cheaper than 75% of peers
P/S (TTM) 0.39× · Cheaper than 75% of peers
P/FCF 8.0× · Pricier than median
EV/EBITDA 2.0× · Cheaper than 75% of peers
PEG 0.72× · 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 0 · sector 30
FUTURE 5 · sector 15
PAST 25 · sector 28
HEALTH 94 · sector 89
DIVIDEND 85 · sector 72

VALUE 0: the price sits above our fair-value range.

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 Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥89.98 ¥109.88 +22%
T-Mobile US, Inc TMUS $187.61 $172.67 -8%
Bharti Airtel Limited BHARTIARTL ₹1,922 ₹941.55 -51%
China Telecom Corporation 601728 ¥6.01 ¥8.36 +39%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 507.27 MXN +95%
Advanced Info Service Public Company ADVANC 379.00 THB 286.77 THB -24%
Chunghwa Telecom Co 2412 133.50 TWD 100.00 TWD -25%
China Unicom (Hong Kong) Limited 0762 HK$6.50 HK$13.03 +100%
Telefónica, S.A TEFN 75.67 MXN 111.01 MXN +47%

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Frequently asked questions

Is Orange Polska S.A (OPL) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of 10.41 PLN versus a price of 15.38 PLN, about −32% (overvalued).
What is the fair value of OPL?
Our model-based fair value for Orange Polska S.A is 10.41 PLN (as of Jul 19, 2026), built from audited fundamentals. The current price is 15.38 PLN.
What is the quality score of OPL?
Orange Polska S.A has a Quality Score of 53/100. 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 Orange Polska S.A (OPL)?
Orange Polska S.A reported trailing-twelve-month revenue of about 13.2B PLN (latest available figure, as of Jul 19, 2026).
What is the net profit margin of OPL?
The net profit margin of Orange Polska S.A is about 6.6%, meaning it keeps roughly 6.6% of revenue as net income. Based on the latest reported figures.
Does Orange Polska S.A pay a dividend?
Orange Polska S.A currently shows a dividend yield of about 3.89% relative to its recent price (as of Jul 19, 2026).

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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