Passus S.A (PAS) Fair Value & Analysis
Technology · PL · Market cap 188M PLN
Fair value as of: Jul 19, 2026
From 26 valuation models · updated 22 days ago
Share price +2.2% over the past month.
A solid business, currently priced close to our fair value.
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- A fairly wide model range (94.43 PLN to 235.71 PLN) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
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 16.91 PLN – 145.86 PLN · fair‑value band 94.43 PLN – 235.71 PLN · the 120.20 PLN price screens below the 125.90 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.
Analysis
Passus S.A (PAS) currently trades at 120.20 PLN, while our model-based Fair Value estimate is 125.90 PLN, implying the stock looks roughly 4.7% fairly valued today. The Quality Score stands at 70/100 (solid quality), in the Technology 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: medium), always confirm before acting.
Over the trailing twelve months, Passus S.A generated revenue of 136M PLN at a net margin of 8.4%. Revenue grew 106.8% year over year. It earns a return on equity of 51.5%. The balance sheet holds a net cash position of 12.5M PLN. Fundamentals as of Jul 19, 2026
Our scenario range runs from 94.43 PLN (bear case) to 235.71 PLN (bull case); at 120.20 PLN, the current price sits within 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 20% below its 52-week high and 193% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -25% fair-value upside, at 5%, PAS 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.
All 26 models by family
Widest divergence: Growth Earnings (181.32 PLN) versus Asset-Based (10.70 PLN). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 67 · Market factors (momentum, volatility) 64
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
Passus S.A. engages in the design and implementation of specialized IT solutions in the areas of cybersecurity, network/application monitoring, and performance improvement in Poland.
Full company description
Passus S.A. engages in the design and implementation of specialized IT solutions in the areas of cybersecurity, network/application monitoring, and performance improvement in Poland. The company offers cybersecurity solutions, such as network environment protection and internet connection, endpoint protection, data security, security operating center, OT security, cloud security, and testing and audits. It also provides advanced solutions, including network performance management, application performance management, and observability to identify the causes and resolve network or application performance and availability problems in large organizations. In addition, the company offers IT infrastructure management solutions for IT managers in handling a range of processes, such as hiring new people, managing access to IT resources, monitoring user activity, and resolving problems reported by users. Its customers include entities in the public sector, such as uniformed services, state bodies, and state and local government offices, as well as State Treasury and private sector entities. The company was founded in 2014 and is based in Warsaw, Poland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Passus S.A reported revenue of 123M PLN in FY2025 versus 63.0M PLN in FY2021, a compound +18.3%/yr. Reported net income was 10.2M PLN in FY2025, compounding +14.2%/yr from FY2021.
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Peer Group
Information Technology Services · 477 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.
Valuation Multiples vs Information Technology Services median · lower = cheaper
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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Information Technology Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| International Business Machines Corporation IBM | $235.92 | $143.90 | -39% |
| Accenture plc ACNN | 2,460 MXN | 250.95 MXN | -90% |
| Infosys Limited INFY | ₹1,156 | ₹1,457 | +26% |
| HCL Technologies Limited HCLTECH | ₹1,204 | ₹1,230 | +2% |
| Wipro Limited WIPRO | ₹178.43 | ₹226.81 | +27% |
| Tech Mahindra Limited TECHM | ₹1,455 | ₹1,086 | -25% |
| Samsung SDS Co 018260 | 199,300 KRW | 196,390 KRW | -1% |
| Persistent Systems Limited PERSISTENT | ₹5,059 | ₹2,364 | -53% |
| Hyundai Autoever Corporation 307950 | 393,000 KRW | 133,088 KRW | -66% |
| Coforge Limited COFORGE | ₹1,541 | ₹702.84 | -54% |
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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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