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Bank Polska Kasa Opieki S.A (PEO) Fair Value & Analysis

Financial Services · PL · Market cap 63.9B PLN

BP Bank Polska Kasa Opieki S.A PEO · WAR
Price256.90 PLN
Fair Value347.45 PLN
Upside+35.3%
Quality65/100
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Healthy Growth
Highly profitable · 40.9% net margin
Low debt · generates free cash flow
8.09% dividend yield
Ranks above peers (13/15)
Wide moat 73/100
Evidence: High Range 260.59 PLN – 434.31 PLN Share as image

Fair value as of: Jul 14, 2026

From 26 valuation models · updated 24 days ago

Share price +10.8% over the past month.

A solid business, screening 35% undervalued on our models.

What matters now

  • Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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Price vs Fair Value (5 years)

256.90 PLN 42.44 PLN Fair Value 347.45 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range 42.44 PLN – 256.90 PLN · fair‑value band 260.59 PLN – 434.31 PLN · the 256.90 PLN price screens below the 347.45 PLN fair value. Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Bank Polska Kasa Opieki S.A (PEO) currently trades at 256.90 PLN, while our model-based Fair Value estimate is 347.45 PLN, implying the stock looks roughly 35.3% undervalued today. We read business quality at 65/100 (solid quality), in the Financial Services 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: high), always confirm before acting.

Over the trailing twelve months, Bank Polska Kasa Opieki S.A generated revenue of 16.0B PLN at a net margin of 40.9%. Revenue declined 2.6% year over year. It earns a return on equity of 18.8%. Net debt stands at 17.9B PLN. Fundamentals as of Jul 14, 2026

Our scenario range runs from 260.59 PLN (bear case) to 434.31 PLN (bull case); at 256.90 PLN, the current price sits below 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 near its 52-week high and 51% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 35%, PEO 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 509.31 PLN 959.23 PLN 1,833 PLN 80
Residual Income 169.61 PLN 208.50 PLN 562.43 PLN 76
Rev-Margin DCF 254.73 PLN 420.20 PLN 667.81 PLN 74
All 26 models by family
DCF Models
FCF DCF 535.15 PLN 865.17 PLN 1,841 PLN 38
Owner Earnings 432.12 PLN 952.30 PLN 2,044 PLN 31
5Y Revenue Exit 254.73 PLN 386.67 PLN 637.77 PLN 39
5Y EBITDA Exit 442.55 PLN 788.34 PLN 1,425 PLN 41
5Y P/E Exit 452.19 PLN 899.76 PLN 1,478 PLN 38
10Y Revenue Exit 330.93 PLN 545.13 PLN 741.63 PLN 36
10Y EBITDA Exit 468.92 PLN 909.21 PLN 1,712 PLN 37
10Y P/E Exit 475.75 PLN 927.89 PLN 1,708 PLN 35
Earnings-Based
Graham-Dodd 181.74 PLN 1,267 PLN 1,779 PLN 54
Lynch FV 393.07 PLN 561.53 PLN 729.99 PLN 50
PEG = 1.0 393.07 PLN 561.53 PLN 729.99 PLN 46
EPV 312.68 PLN 360.73 PLN 402.78 PLN 59
Dividend Discount
Gordon GGM 168.68 PLN 350.73 PLN 556.40 PLN 70
DDM Multi-Stage 168.68 PLN 295.75 PLN 368.10 PLN 61
Multiples
P/E Multiple 400.90 PLN 534.54 PLN 668.17 PLN 63
P/S Multiple 124.39 PLN 165.86 PLN 207.32 PLN 58
P/B Multiple 303.02 PLN 404.02 PLN 505.03 PLN 55
EV/EBIT 522.76 PLN 688.89 PLN 855.02 PLN 53
EV/EBITDA 411.76 PLN 540.90 PLN 670.03 PLN 54
EV/Revenue 140.46 PLN 190.21 PLN 239.97 PLN 43
Asset-Based
NCAV (Graham) 67.34 PLN 90.23 PLN 134.67 PLN 50
Growth DCF
Growth DCF 509.31 PLN 959.23 PLN 1,833 PLN 80
Rev-Margin DCF 254.73 PLN 420.20 PLN 667.81 PLN 74
Economic Profit
Residual Income 169.61 PLN 208.50 PLN 562.43 PLN 76
ROIC Compounder 384.23 PLN 544.82 PLN 767.69 PLN 72
Growth Earnings
Growth-Adj P/E 519.16 PLN 741.65 PLN 964.15 PLN 68

Widest divergence: DCF Models (865.17 PLN) versus Asset-Based (90.23 PLN). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 16.0B PLN
Revenue growth (YoY) -2.6%
Net margin 40.9%
Return on equity 18.8%
Free cash flow 8.3B PLN FY2025
P/E ratio 9.2
More key figures
Operating margin 47.7%
EPS (TTM) 25.00 PLN
Dividend yield 8.1%
EPS growth (YoY) -26.9%
Net debt 17.9B PLN FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 65/100

Of which business quality 51 · Market factors (momentum, volatility) 77

Profitability 42
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 11
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 67
Price trend over the last 3–12 months (market factor)
52W Momentum 87
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

Bank Polska Kasa Opieki S.A., a commercial bank, provides banking products and services to retail and corporate clients in Poland. It operates through Retail Banking and Private Banking; Enterprise banking; and Corporate and Investment Banking segments.

Full company description

Bank Polska Kasa Opieki S.A., a commercial bank, provides banking products and services to retail and corporate clients in Poland. It operates through Retail Banking and Private Banking; Enterprise banking; and Corporate and Investment Banking segments. The company offers bank accounts, deposits and certificates of deposit, payment cards, loan products, mortgage and consumer loans, and insurance products. It is also involved in the brokering activity and sale of investment products; leasing, factoring, arranging issues of debt securities, and other specialized forms of financing; and transactional banking. In addition, the company provides investment advisory services, advisory in M&A, advanced treasury, capital market products, and custody services; investment banking; structured finance; financing of commercial real estate projects, including financing of the construction of warehouses; and other services, such as collecting information on debtors' financial situation, collection, debt collection, settlements accounting, and monitoring of payments. Further, it is involved in the settlement of mass transactions, financial advisory and consulting services regarding the selection of financing method, and granting loans and credits related to the factoring agreement; brokerage services for large and medium-sized enterprises and financial institutions; payment card management systems, transaction authorization and card personalization; online payment systems; and financial intermediation and transfer agent services. Bank Polska Kasa Opieki S.A. was founded in 1929 and is headquartered in Warsaw, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bank Polska Kasa Opieki S.A reported revenue of 17.4B PLN in FY2025 versus 8.6B PLN in FY2021, a compound +19.3%/yr. Reported net income was 7.0B PLN in FY2025, compounding +34.0%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
17.4B PLN
Latest YoY
+7.7%
Avg. growth/yr (3Y)
+15.4%
Avg. growth/yr (5Y)
+17.0%
Avg. growth/yr (20Y)
+32.9%
Revenue +19.3%/yr
FY21 8.6B PLN
FY22 11.3B PLN
FY23 14.8B PLN
FY24 16.2B PLN
FY25 17.4B PLN
Net income +34.0%/yr
FY21 2.2B PLN
FY22 1.7B PLN
FY23 6.6B PLN
FY24 6.4B PLN
FY25 7.0B PLN

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Cite: Fair Value Calculator (2026). "Bank Polska Kasa Opieki S.A Fair Value". https://www.fairvalue-calculator.com/stock/PEO

Peer Group

Banks - Regional · 1082 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 64 · Above median
Fair Value upside +35% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 2% · Top 25%
Net margin (TTM) 41% · Top 25%
Operating margin (TTM) 48% · Above median
Revenue growth -3% · Bottom 25%
Dividend yield (TTM) 8.1% · Top 25%
Debt / equity 0.16× · Lower than median

Valuation Multiples vs Banks - Regional median · lower = cheaper

P/E (TTM) 9.7× · Cheaper than median
P/B 0.49× · Cheaper than 75% of peers
P/S (TTM) 1.07× · Cheaper than 75% of peers
P/FCF 2.1× · Cheaper than median
EV/EBITDA 3.1× · Cheaper than 75% of peers
PEG 2.91× · Pricier 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 80 · sector 39
FUTURE 0 · sector 44
PAST 75 · sector 41
HEALTH 92 · sector 85
DIVIDEND 100 · sector 49

Insider activity: 45/100

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 Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
PT Bank Central Asia Tbk BBCA 6,175 IDR 6,087 IDR -1%
KB Financial Group 105560 184,400 KRW 213,797 KRW +16%
PT Bank Rakyat Indonesia (Persero) Tbk BBRI 2,970 IDR 4,891 IDR +65%
PT Bank Mandiri (Persero) Tbk BMRI 4,310 IDR 7,841 IDR +82%
Banco Bradesco S.A BBD 5,120 ARS 10,240 ARS +100%
Shinhan Financial Group 055550 107,900 KRW 137,259 KRW +27%
Hana Financial Group 086790 136,800 KRW 193,969 KRW +42%
Lloyds Banking Group LYG 4,138 ARS 8,275 ARS +100%
Banco de Chile, CHILE 193.10 CLP 152.55 CLP -21%
Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB 59,400 VND 84,201 VND +42%

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Frequently asked questions

Is Bank Polska Kasa Opieki S.A (PEO) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of 347.45 PLN versus a price of 256.90 PLN, about +35% (undervalued).
What is the fair value of PEO?
Our model-based fair value for Bank Polska Kasa Opieki S.A is 347.45 PLN (as of Jul 14, 2026), built from audited fundamentals. The current price is 256.90 PLN.
What is the quality score of PEO?
Bank Polska Kasa Opieki S.A has a Quality Score of 65/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Bank Polska Kasa Opieki S.A (PEO)?
Bank Polska Kasa Opieki S.A reported trailing-twelve-month revenue of about 16.0B PLN (latest available figure, as of Jul 14, 2026).
What is the net profit margin of PEO?
The net profit margin of Bank Polska Kasa Opieki S.A is about 40.9%, meaning it keeps roughly 40.9% of revenue as net income. Based on the latest reported figures.
Does Bank Polska Kasa Opieki S.A pay a dividend?
Bank Polska Kasa Opieki S.A currently shows a dividend yield of about 8.09% relative to its recent price (as of Jul 14, 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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