Skarbiec Holding (SKH) Fair Value & Analysis
Financial Services · PL · Market cap 243M PLN
Fair value as of: Jul 19, 2026
From 13 valuation models · updated 22 days ago
Fair value updated Jul 19, 2026, revised from 49.73 PLN to 13.62 PLN (−72.6%) since Jun 26, 2026.
A solid business, but screening 61% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (17.02 PLN). The favourable scenario is already priced in.
- Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
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 13.43 PLN – 35.90 PLN · fair‑value band 10.21 PLN – 17.02 PLN · the 34.50 PLN price screens above the 13.62 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
Skarbiec Holding (SKH) currently trades at 34.50 PLN, while our model-based Fair Value estimate is 13.62 PLN, implying the stock looks roughly 60.5% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Financial Services 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, Skarbiec Holding generated revenue of 112M PLN at a net margin of 55.0%. Revenue grew 111.6% year over year. It earns a return on equity of 29.2%. The balance sheet holds a net cash position of 62.7M PLN. Fundamentals as of Jul 19, 2026
Our scenario range runs from 10.21 PLN (bear case) to 17.02 PLN (bull case); at 34.50 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 about 11% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at -12% fair-value upside, at -61%, SKH 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.
All 13 models by family
Widest divergence: Earnings-Based (347.35 PLN) versus Dividend Discount (5.53 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 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 75
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
Skarbiec Holding S.A. engages in creation and management of investment funds in Poland. The company also involved in managing various types of investment funds, including open-end, specialized open-end, and closed-end funds. It also offers portfolio management services for financial instruments on behalf of clients.
Full company description
Skarbiec Holding S.A. engages in creation and management of investment funds in Poland. The company also involved in managing various types of investment funds, including open-end, specialized open-end, and closed-end funds. It also offers portfolio management services for financial instruments on behalf of clients. In addition, it offers asset management services. The company was formerly known as Skarbiec Holding Sp. z o.o. and changed its name to Skarbiec Holding S.A. in March 2014. Skarbiec Holding S.A. was founded 1997 and is based in Warsaw, Poland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Skarbiec Holding reported revenue of 238M PLN in FY2025 versus 94.8M PLN in FY2021, a compound +25.8%/yr. Reported net income was 107M PLN in FY2025, compounding +83.4%/yr from FY2021.
of which total revenue +6.8 pp · buybacks/dilution −0.1 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
SKH screens 61% overvalued. Compare with Fondul Proprietatea SA →
Peer Group
Asset Management · 971 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 Asset Management 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.
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 Asset Management stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Fondul Proprietatea SA FP | $0.0420 | $0.0800 | +90% |
| BlackRock, Inc BLK | $1,136 | $465.75 | -59% |
| Blackstone Inc BX | $124.56 | $16.35 | -87% |
| Investor AB INVEB | kr 423.70 | kr 847.40 | +100% |
| Brookfield Corporation BN | C$62.45 | C$10.12 | -84% |
| KKR & Co KKR | $100.94 | $44.88 | -56% |
| AB Industrivärden INDUA | kr 532.50 | kr 1,065 | +100% |
| Jio Financial Services Limited JIOFIN | ₹242.98 | ₹40.19 | -83% |
| Hedef Holding HEDEF | 267.25 TRY | 320.98 TRY | +20% |
| Bajaj Holdings BAJAJHLDNG | ₹10,398 | ₹9,202 | -12% |
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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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