EN DE

PGF Polska Grupa Fotowoltaiczna SA (PGV) Fair Value & Analysis

Industrials · PL · Market cap 50.1M PLN (≈ $13.5M) · ISIN PLZSTAL00012

What is PGF Polska Grupa Fotowoltaiczna SA really worth?

PP PGF Polska Grupa Fotowoltaiczna SA PGV · WAR
Price1.14 PLN
Fair Value0.0700 PLN
Upside−93.9%
Quality49/100

Below-average quality, and trading another 1,529% above our fair value of 0.0700 PLN.

As of Aug 13, 2026, the fair value of PGF Polska Grupa Fotowoltaiczna SA is 0.0700 PLN per share against a price of 1.14 PLN, so the fair value sits 94% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

Watch PGF Polska Grupa Fotowoltaiczna SA for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card. Watch for free

Strengths

Highly profitable · 105.4% net margin

Risks

!Weak Growth (revenue YoY −92.7 %/yr)
!Low debt · negative free cash flow
!Mixed vs. peers (6/12)
!Moderate moat 49/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range 0.0600 PLN – 0.0800 PLN

Fair value as of: Aug 13, 2026

From 2 valuation models · updated 23 days ago

Share price +150.0% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (0.0800 PLN). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

3.30 PLN 0.2880 PLN Fair Value 0.0700 PLN May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 0.2880 PLN – 3.30 PLN · fair‑value band 0.0600 PLN – 0.0800 PLN · the 1.14 PLN price screens above the 0.0700 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

PGF Polska Grupa Fotowoltaiczna SA (PGV) currently trades at 1.14 PLN, while our model-based Fair Value estimate is 0.0700 PLN, implying the stock looks roughly 1,528.7% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Industrials sector. How firm this estimate is: it rests on 2 models at a data quality of 76/100, which puts the evidence level at low.

Trailing-twelve-month revenue stands at 61.2M PLN. It earns a return on equity of 36.9%. The balance sheet holds a net cash position of 4.2M PLN. The stock trades on a trailing P/E of 1.1 (as of Jul 20, 2026). Fundamentals as of Aug 13, 2026

Our scenario range runs from 0.0600 PLN (bear case) to 0.0800 PLN (bull case); at 1.14 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 near its 52-week high and 226% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −58% fair-value upside, at −94%, PGV screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2024 figures, and about 12 months have passed since. In that time the company retained roughly 0.4500 PLN per share, which is 197.4 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model 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
Highest evidence
EV/EBITDA best evidence 0.1400 PLN 0.1700 PLN 0.2000 PLN 67
NCAV (Graham) 0.3300 PLN 0.4400 PLN 0.6600 PLN 54
All 2 models by family
Multiples
EV/EBITDA best evidence 0.1400 PLN 0.1700 PLN 0.2000 PLN 67
Asset-Based
NCAV (Graham) 0.3300 PLN 0.4400 PLN 0.6600 PLN 54

Widest divergence: Asset-Based (0.4400 PLN) versus Multiples (0.1700 PLN). Highest evidence: EV/EBITDA (67).

Notify me when PGV reaches fair value

Put PGV on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.

Set up alert →

Free, no payment details. Unsubscribe anytime in one click.

Key figures & financial health

P/E ratio 1.1 as of Jul 20, 2026
P/S ratio 0.82 TTM
EPS (TTM) 0.4500 PLN price ÷ EPS = P/E 1.1
Net margin −36.3% FY2024
Return on equity 36.9% TTM
Return on assets (EBIT) −3.3% avg 5y
More key figures
Profitability
Operating margin 3.3% TTM
Growth
Revenue (TTM) 61.2M PLN TTM
Revenue growth (YoY) −90.4%
EPS growth (YoY) +41.3%
Balance sheet & cash flow
Free cash flow −470K PLN FY2024
Net cash 4.2M PLN FY2024

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 42 · Market factors (momentum, volatility) 72

Profitability 11
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 10
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 100
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

PGF Polska Grupa Fotowoltaiczna SA, an investment company, operates in the renewable energy sector primarily focusing on the photovoltaic market in Poland. The company was formerly known as Zastal S.A. and changed its name to PGF Polska Grupa Fotowoltaiczna SA in January 2021. The company is based in Warsaw, Poland.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

PGF Polska Grupa Fotowoltaiczna SA reported revenue of 61.2M PLN in FY2024 versus −1.4M PLN in FY2020. Reported net income was −22.2M PLN in FY2024.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2024)
61.2M PLN
Latest YoY
−92.7%
Avg. revenue growth/yr (20Y) 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.
+6.6%
EBIT margin (trend) 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.
−13.3% (2018) → −0.8% (2024)
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2024 is a loss year, no rate is defined from a loss
not computed
Revenue
FY20 −1.4M PLN
FY21 −3.2M PLN
FY22 117M PLN
FY23 841M PLN
FY24 61.2M PLN
Net income
FY20 −167M PLN
FY21 88.5M PLN
FY22 −186M PLN
FY23 −8.0M PLN
FY24 −22.2M PLN

PGV screens 1,529% overvalued. Compare with Carpenter Technology Corporation →

Share or link this analysis
𝕏 Post WhatsApp LinkedIn Reddit
For bloggers & editors: embed code + live data

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). "PGF Polska Grupa Fotowoltaiczna SA Fair Value". https://www.fairvalue-calculator.com/stock/PGV.WAR

Peer Group

Metal Fabrication · 249 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 42 · Below median
Return on equity (TTM) 37% · Top 25%
Return on assets 1% · Below median
Net margin (TTM) 105% · Top 25%
Operating margin (TTM) 3% · Below median
Revenue growth −90% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 1.1× · Cheaper than 75% of peers
P/B 0.75× · Cheaper than median
P/S (TTM) 0.82× · Cheaper than median
EV/EBITDA 13.0× · Pricier than median
PEG 1.83× · Pricier than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE0 · sector 35
PAST100 · sector 21
HEALTH99 · sector 95
DIVIDEND0 · sector 26

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

Similar stocks

10 more Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Carpenter Technology Corporation CRS $490.58 $101.35 −79%
ATI Inc ATI $210.76 $35.74 −83%
Mueller Industries, Inc MLI $62.80 $59.33 −6%
Aurubis AG NDA €178.90 €223.43 +25%
China International Marine Containers (Group) Co 000039 ¥9.39 ¥3.39 −64%
Commercial Metals Company CMC $68.16 $13.01 −81%
JL Mag Rare-Earth Co 300748 ¥27.08 ¥8.34 −69%
Viohalco S.A VIO €16.46 €14.98 −9%
ESAB Corporation ESAB $86.05 $52.40 −39%
Ningbo Zhenyu Technology Co 300953 ¥104.36 ¥44.23 −58%

Compare PGF Polska Grupa Fotowoltaiczna SA with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Industrials stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names ⭐ Top Rated 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screener Filter by region, size and sector Compare tool Two stocks side by side Extrinsic Value Calculator (Options) Splits an option premium into intrinsic and extrinsic (time) value. Peter Lynch Fair Value Formula & Calculator Apply Peter Lynch's fair value formula in seconds: fair P/E ≈ earnings growth (+ dividend) - free, with formula and example.

Frequently asked questions

Is PGF Polska Grupa Fotowoltaiczna SA (PGV) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 0.0700 PLN versus a price of 1.14 PLN, about −94% upside (overvalued).
What is the fair value of PGV?
Our model-based fair value for PGF Polska Grupa Fotowoltaiczna SA is 0.0700 PLN (as of Aug 13, 2026), built from audited fundamentals. The current price: 1.14 PLN.
What is the quality score of PGV?
PGF Polska Grupa Fotowoltaiczna SA has a Quality Score of 49/100. 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 PGF Polska Grupa Fotowoltaiczna SA (PGV)?
Our model-based price target is the fair value of 0.0700 PLN (as of Aug 13, 2026) from 2 valuation models. Cautious scenario 0.0600 PLN, optimistic scenario 0.0800 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the PGF Polska Grupa Fotowoltaiczna SA stock forecast for 2026?
Our models put fair value at 0.0700 PLN, about −94% upside versus a price of 1.14 PLN (overvalued). Cautious scenario 0.0600 PLN, optimistic scenario 0.0800 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of PGF Polska Grupa Fotowoltaiczna SA (PGV)?
PGF Polska Grupa Fotowoltaiczna SA reported trailing-twelve-month revenue of about 61.2M PLN (latest available figure, as of Aug 13, 2026).
What is the net profit margin of PGV?
The net profit margin of PGF Polska Grupa Fotowoltaiczna SA is about 105.4%, meaning it keeps roughly 105.4% of revenue as net income. Based on the latest reported figures.
Free · no account needed

Watch PGF Polska Grupa Fotowoltaiczna SA in the live analysis

One click puts PGF Polska Grupa Fotowoltaiczna SA on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.