PCC Exol SA (PCX) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of PCC Exol SA stock PLN 2.67, price PLN 2.07, upside +29.0%, quality 59 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range 1.89 PLN – 4.05 PLN · fair‑value band 1.43 PLN – 3.93 PLN · the 2.07 PLN price screens below the 2.67 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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PCC Exol S.A. manufactures and distributes surfactants in Poland and internationally. The company offers anionic, nonionic, cationic, and amphoteric surfactants.
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Its products are used in household chemicals, personal care products, textile, and industrial applications, as well as used as wetting agents, emulsifiers, and auxiliary agents in the paper, metallurgy, and many other areas.
The company was incorporated in 2008 and is headquartered in Brzeg Dolny, Poland. PCC Exol S.A. is a subsidiary of PCC SE.
Stock analysis
PCC Exol SA (PCX) currently trades at 2.07 PLN, while our model-based Fair Value estimate is 2.67 PLN, implying the stock looks roughly 22% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 3.54 PLN per share, and 18 of the 26 models we run sit above the 2.07 PLN price.
Bear case: the Dividend Discount group reads lowest at 0.8050 PLN, and 8 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 1.43 PLN (bear) to 3.93 PLN (bull), the price of 2.07 PLN sits inside 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 59/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
PCC Exol SA reported revenue of 1.1B PLN in FY2025 versus 807M PLN in FY2021, a compound +7.7%/yr. Reported net income was 37.9M PLN in FY2025, compounding −10.1%/yr from FY2021.
Key figures
Market cap 360M PLN (≈ $92.1M) Micro · P/E ratio 8.0 · P/S ratio 0.32 · EPS (TTM) 0.2600 PLN · Dividend yield 3.3% · Net margin 3.9% · Return on equity 8.8% · Return on assets (EBIT) 10.1% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).
What moves the price
The share trades about 17% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −43% fair-value upside, at 29%, PCX screens cheaper than that median.
Fair Value models
Bear1.43 PLNFair Value 2.67 PLNBull3.93 PLN
Price 2.07 PLN · Upside +29.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.2230 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = 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.
Best data coverage
FCF DCF1.48 PLN2.49 PLN3.77 PLN79
Growth DCF1.48 PLN2.36 PLN3.40 PLN78
Residual Income2.19 PLN2.23 PLN2.40 PLN76
All 26 models by family
DCF Models
FCF DCF1.48 PLN2.49 PLN3.77 PLN79
Owner Earnings0.2800 PLN0.8100 PLN1.48 PLN72
5Y Revenue Exit1.87 PLN3.58 PLN5.76 PLN70
5Y EBITDA Exit1.86 PLN3.57 PLN5.54 PLN73
5Y P/E Exit1.43 PLN2.77 PLN4.15 PLN69
10Y Revenue Exit1.58 PLN2.97 PLN4.80 PLN65
10Y EBITDA Exit1.66 PLN2.96 PLN4.66 PLN67
10Y P/E Exit1.42 PLN2.48 PLN3.74 PLN63
Earnings-Based
Graham-Dodd1.48 PLN4.58 PLN6.09 PLN65
Lynch FV0.9900 PLN1.42 PLN1.84 PLN61
PEG = 1.00.9900 PLN1.42 PLN1.84 PLN57
EPV1.42 PLN1.73 PLN1.98 PLN74
Dividend Discount
Gordon GGM0.5000 PLN0.8500 PLN1.12 PLN68
DDM Multi-Stage0.5000 PLN0.7600 PLN0.9200 PLN67
Multiples
P/E Multiple2.78 PLN3.70 PLN4.63 PLN63
P/S Multiple2.78 PLN3.70 PLN4.63 PLN58
P/B Multiple2.51 PLN3.35 PLN4.19 PLN55
EV/EBIT2.45 PLN3.76 PLN5.06 PLN65
EV/EBITDA2.16 PLN3.37 PLN4.58 PLN66
EV/Revenue1.93 PLN3.38 PLN4.84 PLN52
Asset-Based
NCAV (Graham)0.8600 PLN1.16 PLN1.73 PLN54
Growth DCF
Growth DCF1.48 PLN2.36 PLN3.40 PLN78
Rev-Margin DCF1.87 PLN3.59 PLN5.55 PLN71
Economic Profit
Residual Income2.19 PLN2.23 PLN2.40 PLN76
ROIC Compounder1.42 PLN1.73 PLN1.98 PLN72
Growth Earnings
Growth-Adj P/E2.35 PLN3.36 PLN4.36 PLN67
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+14.5%
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.
−2.8%
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.
+10.9%
Start year 2020 (pandemic). Over 10 years: +7.7% a year
Revenue growth 14 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.
+12.0%
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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.
+2.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−1.3%
Dividend (yield on the price)3.3%
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.−1.3% vs 9.8%, slowing
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.9% → 6%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
+13.1%
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 +9.6% 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.Specialty Chemicals · 728 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside+29.0% · Top 25%
Profitability
Return on equity (12 months)8.8% · Above median
Return on assets3.9% · Above median
Net margin (12 months)3.9% · Below median
Operating margin (12 months)8.7% · Below median
Growth and dividend
Revenue growth (quarter YoY)24.1% · Above median
Dividend yield (12 months)3.3% · Top 25%
Balance sheet
Debt / equity0.40× · Highest 25%
Valuation Multiplesvs Specialty Chemicals 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). "PCC Exol SA Fair Value". https://www.fairvalue-calculator.com/stock/PCX
Frequently asked questions
Is PCC Exol SA (PCX) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 2.67 PLN versus a price of 2.07 PLN, about +29% upside (undervalued).
What is the fair value of PCX?
Our model-based fair value for PCC Exol SA is 2.67 PLN (as of Nov 9, 2026), built from audited fundamentals. The current price: 2.07 PLN.
What is the quality score of PCX?
PCC Exol SA has a Quality Score of 59/100. 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 PCC Exol SA (PCX)?
Our model-based price target is the fair value of 2.67 PLN (as of Nov 9, 2026) from 26 valuation models. Cautious scenario 1.43 PLN, optimistic scenario 3.93 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the PCC Exol SA stock forecast for 2026?
Our models put fair value at 2.67 PLN, about +29% upside versus a price of 2.07 PLN (undervalued). Cautious scenario 1.43 PLN, optimistic scenario 3.93 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of PCC Exol SA (PCX)?
PCC Exol SA reported trailing-twelve-month revenue of about 1.1B PLN (latest available figure, as of Nov 9, 2026).
Does PCC Exol SA pay a dividend?
PCC Exol SA currently shows a dividend yield of 3.33% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of PCC Exol SA (PCX)?
PCC Exol SA has a dividend yield of 3.3%.
What growth is priced into PCC Exol SA (PCX)?
For today's price to be fair in a discounted-cash-flow model, PCC Exol SA would have to grow free cash flow by +13.1 % per year for five years (discount rate 12.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.9 % per year. As of Nov 9, 2026.
What discount rate (WACC) does the fair value of PCX use?
Our models discount PCC Exol SA at 12.1 %: a base by market capitalisation (micro), damped by beta 0.36, 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 PCC Exol SA that is +13.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.1 %) and the same formula as our fair value.
How much growth has PCC Exol SA (PCX) delivered so far?
Over the past 5 years revenue at PCC Exol SA grew +10.9 % a year. The price currently implies free-cash-flow growth of +13.1 % per 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 PCC Exol SA (PCX) growing?
The median revenue growth in the sector is +9.8 % a year. That is the yardstick for the growth priced into PCC Exol SA (+13.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of PCC Exol SA (PCX)?
The free-cash-flow yield on the price is 9.53 %: that much free cash flow PCC Exol SA produces per unit of market value. When it exceeds the discount rate of our models (12.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of PCC Exol SA (PCX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For PCC Exol SA it is 2.67 PLN per share (as of Nov 9, 2026), against a price of 2.07 PLN. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is PCC Exol SA stock overvalued or undervalued in 2026?
As of Nov 9, 2026, PCX trades below its calculated fair value: price 2.07 PLN, fair value 2.67 PLN, a gap of about +29% (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 PCX?
No. The price is what the market pays today (2.07 PLN); the fair value is what the company's own numbers justify (2.67 PLN). For PCC Exol SA the two are 0.6000 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is PCC Exol SA worth?
The market values PCC Exol SA at about 360M PLN (market capitalisation, as of Nov 9, 2026). Per share that is 2.07 PLN; our models calculate a fair value of 2.67 PLN per share.
What do the bullish and bearish scenarios say about PCX?
Our models span a range for PCC Exol SA: cautious scenario 1.43 PLN, base 2.67 PLN, optimistic 3.93 PLN per share (as of Nov 9, 2026, price 2.07 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PCX?
PCC Exol SA trades at a price-to-earnings ratio of 8.0 (as of Nov 9, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2.67 PLN is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 11.6. Other multiples: P/B 0.7, P/S 0.3, EV/EBITDA 6.0.
How solid is the balance sheet of PCC Exol SA (PCX)?
Balance-sheet figures for PCC Exol SA (as of Nov 9, 2026): return on equity 8.8%, debt of 0.40 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is PCX from its 52-week high?
PCC Exol SA trades at 2.07 PLN, about 17% below its 52-week high of 2.50 PLN and 10% above the low of 1.89 PLN (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 2.67 PLN is for.
Which stocks are comparable to PCC Exol SA?
From the same area (Basic Materials) we also value Linde plc, Ecolab Inc, The Sherwin-Williams Company, Nan Ya Plastics Corporation, 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 PCC Exol SA stock attractive at the current price?
The data as of Nov 9, 2026: price 2.07 PLN, calculated fair value 2.67 PLN (+29%), Quality Score 59/100, from 26 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 PCX calculated?
We run PCC Exol SA through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 2.67 PLN builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. PCC Exol SA currently trades 22% 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 PCC Exol SA (PCX)?
The closing price on Nov 6, 2026 was 2.07 PLN. Our model-based fair value is 2.67 PLN, about +29% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with PCC Exol SA right now?
The model range is unusually wide (1.43 PLN to 3.93 PLN). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (59/100) at a price below fair value, the discount is the argument here, not the business quality. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Where does the earnings growth of PCC Exol SA (PCX) come from?
Earnings per share at PCC Exol SA grew +12.3 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.3 %, EBIT margin +2.5 %, tax rate −0.2 %, residual (interest, one-offs) +2.3 %. 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 PCC Exol SA
How large is the market capitalisation of PCC Exol SA (PCX)?
The market capitalisation of PCC Exol SA is 360M PLN (≈ $92.1M). 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 PCC Exol SA (PCX)?
The price-to-sales ratio of PCC Exol SA is 0.32 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of PCC Exol SA (PCX)?
Earnings per share at PCC Exol SA are 0.2600 PLN (price ÷ EPS = P/E 8.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of PCC Exol SA (PCX)?
The dividend yield of PCC Exol SA is 3.3% (payout 26.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of PCC Exol SA (PCX)?
The net margin of PCC Exol SA is 3.9% (last twelve months). 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 PCC Exol SA (PCX)?
The return on equity (ROE) of PCC Exol SA is 8.8% (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 PCC Exol SA (PCX)?
On an EBIT basis the return on assets of PCC Exol SA is 10.1% (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 PCC Exol SA (PCX)?
The operating margin of PCC Exol SA is 8.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at PCC Exol SA (PCX)?
Revenue at PCC Exol SA is growing +24.1% versus a year earlier (3y avg −2.8%). 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 PCC Exol SA (PCX)?
Earnings per share at PCC Exol SA are growing +138% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does PCC Exol SA (PCX) carry?
The net debt of PCC Exol SA is 256M PLN (fiscal year 2025, ≈ 7.4 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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Thin data
Nov 9, 2026