Spyrosoft S.A. (SPR) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Spyrosoft S.A. PLN 966, price PLN 322, upside +200.0%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 173.00 PLN – 644.00 PLN · fair‑value band 583.94 PLN – 1,424 PLN · the 322.00 PLN price screens below the 966.00 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Spyrosoft Spólka Akcyjna operates as a software engineering company. It offers a range of software development services, including embedded and cloud solutions.
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Spyrosoft Spólka Akcyjna operates as a software engineering company. It offers a range of software development services, including embedded and cloud solutions. Its services include agile consulting, artificial intelligence and machine learning, build operate transfer, cloud services, customer support, cybersecurity, digital product design, ecommerce development, embedded software engineering, enterprise software engineering, functional safety, HMI development and consulting, low-code development platforms, managed services, mobile app development, IT staff augmentation, and public sector digital services. It serves chemical industry, agritech, automotive, defense, security and aerospace, digital transformation, edutech, financial services, geospatial, healthcare and life sciences, hr tech, industry 4.0, legal technology consulting, media and entertainment, robotics, adtech & martech development, high tech, and retail industries. The company was founded in 2016 and is based in Wroclaw, Poland.
Stock analysis
Spyrosoft S.A. (SPR) currently trades at 322.00 PLN, while our model-based Fair Value estimate is 966.00 PLN, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 1,882 PLN per share, and 22 of the 24 models we run sit above the 322.00 PLN price.
Bear case: the Asset-Based group reads lowest at 98.61 PLN, and 2 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 583.94 PLN (bear) to 1,424 PLN (bull), the price of 322.00 PLN sits below 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 69/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Spyrosoft S.A. reported revenue of 601M PLN in FY2025 versus 173M PLN in FY2021, a compound +36.5%/yr. Reported net income was 40.8M PLN in FY2025, compounding +29.1%/yr from FY2021.
Key figures
Market cap 432M PLN (≈ $112M) · P/E ratio 8.5 · P/S ratio 0.57 · EPS (TTM) 38.01 PLN · Net margin 6.8% · Return on equity 29.2% · Return on assets (EBIT) 21.6% · Operating margin 10.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 46% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −14% fair-value upside, at 200%, SPR screens cheaper than that median.
Fair Value models
Bear 583.94 PLNFair Value 966.00 PLNBull 1,424 PLN
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (27.91 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.Evidence ⓘEvidence = 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.
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.95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+29.2%
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.
+22.0%
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.
+39.7%
Start year 2020 (pandemic)
Revenue growth 8 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.
+67.5%
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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.
+25.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+25.9%
Dividend (yield on the price)0.0%
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.18% → 10%
Growth Forecast
Little optimism in the price
The price assumes less growth than 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).
−8.5%
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 −11.2% 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.Software - Application · 720 stocks
Beats the industry median on 11/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+200% · Top 25%
Profitability
Return on equity (TTM)29% · Top 25%
Return on assets13% · Top 25%
Net margin (TTM)7% · Above median
Operating margin (TTM)10% · Above median
Growth and dividend
Revenue growth13% · Above median
Valuation Multiplesvs Software - Application 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). "Spyrosoft S.A. Fair Value". https://www.fairvalue-calculator.com/stock/SPR
Frequently asked questions
Is Spyrosoft S.A. (SPR) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 966.00 PLN versus a price of 322.00 PLN, about +200% upside (undervalued).
What is the fair value of SPR?
Our model-based fair value for Spyrosoft S.A. is 966.00 PLN (as of Sep 24, 2026), built from audited fundamentals. The current price: 322.00 PLN.
What is the quality score of SPR?
Spyrosoft S.A. has a Quality Score of 69/100. 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 Spyrosoft S.A. (SPR)?
Our model-based price target is the fair value of 966.00 PLN (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 583.94 PLN, optimistic scenario 1,424 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Spyrosoft S.A. stock forecast for 2026?
Our models put fair value at 966.00 PLN, about +200% upside versus a price of 322.00 PLN (undervalued). Cautious scenario 583.94 PLN, optimistic scenario 1,424 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Spyrosoft S.A. (SPR)?
Spyrosoft S.A. reported trailing-twelve-month revenue of about 619M PLN (latest available figure, as of Sep 24, 2026).
What growth is priced into Spyrosoft S.A. (SPR)?
For today's price to be fair in a discounted-cash-flow model, Spyrosoft S.A. would have to grow free cash flow by -8.5 % 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 +39.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SPR use?
Our models discount Spyrosoft S.A. at 12.1 %: a base by market capitalisation (micro), damped by beta 0.31, 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 Spyrosoft S.A. that is -8.5 % per year a year over ten years, using the same discount rate (12.1 %) and the same formula as our fair value.
How much growth has Spyrosoft S.A. (SPR) delivered so far?
Over the past 5 years revenue at Spyrosoft S.A. grew +39.7 % a year. The price currently implies -8.5 % per year free-cash-flow growth a 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 Spyrosoft S.A. (SPR) growing?
The median revenue growth in the sector is +8.2 % a year. That is the yardstick for the growth priced into Spyrosoft S.A. (-8.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Spyrosoft S.A. (SPR)?
The free-cash-flow yield on the price is 14.53 %: that much free cash flow Spyrosoft S.A. 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 Spyrosoft S.A. (SPR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Spyrosoft S.A. it is 966.00 PLN per share (as of Sep 24, 2026), against a price of 322.00 PLN. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Spyrosoft S.A. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SPR trades below its calculated fair value: price 322.00 PLN, fair value 966.00 PLN, a gap of about +200% (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 SPR?
No. The price is what the market pays today (322.00 PLN); the fair value is what the company's own numbers justify (966.00 PLN). For Spyrosoft S.A. the two are 644.00 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Spyrosoft S.A. worth?
The market values Spyrosoft S.A. at about 432M PLN (market capitalisation, as of Sep 24, 2026). Per share that is 322.00 PLN; our models calculate a fair value of 966.00 PLN per share.
What do the bullish and bearish scenarios say about SPR?
Our models span a range for Spyrosoft S.A.: cautious scenario 583.94 PLN, base 966.00 PLN, optimistic 1,424 PLN per share (as of Sep 24, 2026, price 322.00 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SPR?
Spyrosoft S.A. trades at a price-to-earnings ratio of 8.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 966.00 PLN is built from several models across several years. Other multiples: P/B 0.7, P/S 0.2.
How solid is the balance sheet of Spyrosoft S.A. (SPR)?
Balance-sheet figures for Spyrosoft S.A. (as of Sep 24, 2026): return on equity 29.2%. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is SPR from its 52-week high?
Spyrosoft S.A. trades at 322.00 PLN, about 46% below its 52-week high of 600.00 PLN and at the low of 322.00 PLN (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 966.00 PLN is for.
Which stocks are comparable to Spyrosoft S.A.?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, Inc, 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 Spyrosoft S.A. stock attractive at the current price?
The data as of Sep 24, 2026: price 322.00 PLN, calculated fair value 966.00 PLN (+200%), Quality Score 69/100, from 24 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 SPR calculated?
We run Spyrosoft S.A. through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 966.00 PLN, 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 13.0 % above its aggregate fair value. Spyrosoft S.A. currently trades 200 % 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 Spyrosoft S.A. (SPR)?
The closing price on Sep 24, 2026 was 322.00 PLN. Our model-based fair value is 966.00 PLN, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Spyrosoft S.A. right now?
The price is below even our cautious bear case (583.94 PLN). The market is more pessimistic than our downside scenario. 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 quality (69/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (583.94 PLN to 1,424 PLN) leaves room in how you read the outcome.
Key figures of Spyrosoft S.A.
How large is the market capitalisation of Spyrosoft S.A. (SPR)?
The market capitalisation of Spyrosoft S.A. is 432M PLN (≈ $112M). 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 Spyrosoft S.A. (SPR)?
The price-to-sales ratio of Spyrosoft S.A. is 0.57 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Spyrosoft S.A. (SPR)?
Earnings per share at Spyrosoft S.A. are 38.01 PLN (price ÷ EPS = P/E 8.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Spyrosoft S.A. (SPR)?
The net margin of Spyrosoft S.A. is 6.8% (fiscal year 2025). 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 Spyrosoft S.A. (SPR)?
The return on equity (ROE) of Spyrosoft S.A. is 29.2% (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 Spyrosoft S.A. (SPR)?
On an EBIT basis the return on assets of Spyrosoft S.A. is 21.6% (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 Spyrosoft S.A. (SPR)?
The operating margin of Spyrosoft S.A. is 10.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Spyrosoft S.A. (SPR)?
Revenue at Spyrosoft S.A. is growing +12.5% versus a year earlier (3y avg +22.0%). 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 Spyrosoft S.A. (SPR)?
Earnings per share at Spyrosoft S.A. are growing +11.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Spyrosoft S.A. (SPR) hold?
Spyrosoft S.A. holds more cash than debt, 29.3M PLN net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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