PJP Makrum S.A (PJP) Fair Value & Analysis
Industrials · PL · Market cap 120M PLN
Fair value as of: Jul 14, 2026
From 23 valuation models · updated 27 days ago
Share price +21.2% over the past month.
Below-average quality, and screening another 26% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (17.65 PLN). The favourable scenario is already priced in.
- Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts.
Price vs Fair Value (5 years)
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 5.17 PLN – 24.00 PLN · fair‑value band 13.24 PLN – 17.65 PLN · the 24.00 PLN price screens above the 17.65 PLN fair value. Dashed = 300-day average. As of Jul 14, 2026.
Analysis
PJP Makrum S.A (PJP) currently trades at 24.00 PLN, while our model-based Fair Value estimate is 17.65 PLN, implying the stock looks roughly 26.5% overvalued today. The Quality Score stands at 39/100 (below-average quality), in the Industrials 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, PJP Makrum S.A generated revenue of 492M PLN at a net margin of 1.3%. Revenue grew 22.5% year over year. It earns a return on equity of 3.8%. Net debt stands at 197M PLN. Fundamentals as of Jul 14, 2026
Our scenario range runs from 13.24 PLN (bear case) to 17.65 PLN (bull case); at 24.00 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 85% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at -26%, PJP 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 23 models by family
Widest divergence: Asset-Based (18.61 PLN) versus DCF Models (5.23 PLN). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 39 · Market factors (momentum, volatility) 76
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
PJP Makrum S.A. engages in manufactures and sells industrial equipment and provides industrial construction services in Poland and internationally.
Full company description
PJP Makrum S.A. engages in manufactures and sells industrial equipment and provides industrial construction services in Poland and internationally. The company offers handling systems, aluminium façades, flood dams, crushing and grinding machines, parking platforms, industrial construction, forklifts, warehouse equipment, fire protection products, and aluminium joinery, lift-and-slide doors; and construction of office buildings, shopping centers, supermarkets, and residential buildings. The company was founded in 1948 and is based in Bydgoszcz, Poland. PJP MAKRUM SA operates as a subsidiary of Immobile SA.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PJP Makrum S.A reported revenue of 492M PLN in FY2025 versus 312M PLN in FY2021, a compound +12.1%/yr. Reported net income was 6.2M PLN in FY2025, compounding +34.9%/yr from FY2021.
PJP screens 26% overvalued. Compare with Larsen & Toubro Limited →
Peer Group
Engineering & Construction · 842 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 Engineering & Construction 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.
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.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Larsen & Toubro Limited LT | ₹3,815 | ₹1,994 | -48% |
| Samsung C&T Corporation 028260 | 346,000 KRW | 268,779 KRW | -22% |
| Hyundai Engineering & Construction Co 000720 | 99,000 KRW | 63,993 KRW | -35% |
| United Integrated Services Co 2404 | 1,250 TWD | 925.62 TWD | -26% |
| Samsung E&A Co 028050 | 42,550 KRW | 44,840 KRW | +5% |
| Rail Vikas Nigam Limited RVNL | ₹232.67 | ₹61.46 | -74% |
| Daewoo Engineering & Construction Co 047040 | 16,240 KRW | 6,507 KRW | -60% |
| NBCC (India) Limited NBCC | ₹96.32 | ₹48.22 | -50% |
| Cemindia Projects Limited CEMPRO | ₹1,330 | ₹730.69 | -45% |
| KEPCO Engineering & Construction Company 052690 | 92,700 KRW | 20,172 KRW | -78% |
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Frequently asked questions
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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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