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Stalprodukt SA (STP) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Stalprodukt SA stock PLN 387, price PLN 242, upside +60.0%, quality 50 out of 100. Rating: strongly undervalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.

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Basic Materials PL · ISIN PLSTLPD00017

SS Stalprodukt SA logo Thin data Nov 9, 2026

Stalprodukt SA

STP · WAR
Undervalued, but in a downtrend

The stock costs 38% less than our calculation considers fair.

Fair value 387.20 PLN · Strongly undervalued
Low debt
Even on cautious assumptions the value is 35% above the price (327.78 PLN).
Quality 50/100
Mixed vs. peers (7/12)
Weak Growth (revenue 3y −14.1 %/yr in PLN)
Loss-making · -1.4% net margin (TTM)
Negative free cash flow
Narrow moat 19/100 · thin data
Thin data
⟳ Cyclical
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

336.68 PLN 194.35 PLN Fair Value 387.20 PLN Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.

How to read this chart

60‑month range 194.35 PLN – 336.68 PLN · fair‑value band 327.78 PLN – 446.61 PLN · the 242.00 PLN price screens below the 387.20 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.

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Company profile

Stalprodukt S.A., together with its subsidiaries, manufactures and sells processed steel products in Poland. It operates through three segments: Electrical Sheets, Profiles, and Zinc.

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The company offers cold-bent sections, cold- and hot-rolled cut sheets and strips, transformer sheets and toroidal cores, cold-bent pipes and sections, road and bridge protective barriers, and transformer cores; and heat supplies, alterations/repair, transport and equipment-related, and hotel services, as well as edible protein casings, hoop iron products, and woodwork products.

It is also involved in the spare parts production and repair; metallurgical products trading; property and people protection; construction production and galvanizing; non-ferrous metals mining and zinc and lead production; hydrogen sales; lightning protection wire and galvanizing; and internet commerce activities, as well as investigative, detective, and security-related business.

The company sells its products through warehouses and sales offices. The company was formerly known as ZPH Stalprodukt S.A. and changed its name to Stalprodukt S.A. in 2005. The company was founded in 1991 and is based in Bochnia, Poland.

Stock analysis

Stalprodukt SA (STP) currently trades at 242.00 PLN, while our model-based Fair Value estimate is 387.20 PLN, implying the stock looks roughly 38% undervalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 93/100, which puts the data coverage at low.

Scenario range: 327.78 PLN (bear) to 446.61 PLN (bull), the price of 242.00 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 50/100 (solid quality), in the Basic Materials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Stalprodukt SA reported revenue of 3.7B PLN in FY2025 versus 4.7B PLN in FY2021, a compound −5.4%/yr. Reported net income was −50.7M PLN in FY2025.

Key figures

Market cap 1.2B PLN (≈ $315M) Small · P/S ratio 0.32 · EPS (TTM) −9.65 PLN · Dividend yield 2.7% · Net margin −1.4% · Return on equity −1.3% · Return on assets (EBIT) 4.6% (5-year average) · Operating margin −0.5%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 19 out of 100 (low confidence).

What moves the price

The share trades about 9% below its 52-week high and 20% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −34% fair-value upside, at 60%, STP screens cheaper than that median.

Fair Value models

Bear 327.78 PLN Fair Value 387.20 PLN Bull 446.61 PLN
Price 242.00 PLN · Upside +60.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = 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.
Best data coverage
EV/EBITDA 317.21 PLN 374.71 PLN 432.20 PLN 67
NCAV (Graham) 178.32 PLN 270.19 PLN 337.74 PLN 54
All 2 models by family
Multiples
EV/EBITDA 317.21 PLN 374.71 PLN 432.20 PLN 67
Asset-Based
NCAV (Graham) 178.32 PLN 270.19 PLN 337.74 PLN 54

The fair value above starts from this blend and is adjusted for a cyclical trough year.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 50/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 20
How much profit the company makes from its sales and capital
Quality Growth 31
Are margins and returns getting better?
Cashflow 7
Do the profits arrive as real cash?
Financial strength 90
Debt, balance sheet and risk of trouble
Investment 90
Does it invest with discipline instead of growing at any price?
Low Volatility 93
How calm the share price moves, does not count
Price momentum 39
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 43
Distance to the 52-week high, does not count
New shares 90
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 11/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−2.5%
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.
−14.1%
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.
+2.4%
Start year 2020 (pandemic). Over 10 years: +1.8% a year
Revenue growth 23 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.
+8.8%
Profit 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.
5.9% (2020) → −1.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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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.Steel · 410 stocks

Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 50 · Above median
Fair Value upside +60.0% · Top 25%
Profitability
Return on assets −1.1% · Bottom 25%
Net margin (12 months) −1.4% · Bottom 25%
Operating margin (12 months) −0.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) 7.2% · Below median
Dividend yield (12 months) 2.7% · Above median

Valuation Multiplesvs Steel median · lower = cheaper

P/B 0.34× · Cheapest 25%
P/S (12 months) 0.34× · Cheaper than median
EV/EBITDA 3.0× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 22
FUTURE (revenue growth)36 · sector 38
PAST (return on equity)0 · sector 19
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)54 · sector 52

Context: sector, industry, market

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 Steel stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Baoshan Iron & Steel Co 600019 ¥6.11 ¥8.07 +32% vs STP
POSCO Holdings 005490 265,000 KRW 240,001 KRW −9% vs STP
Tata Steel Limited TATASTEEL ₹186.30 ₹148.06 −21% vs STP
JSW Steel Limited JSWSTEEL ₹1,357 ₹1,029 −24% vs STP
ArcelorMittal S.A MT €54.82 €36.18 −34% vs STP
Reliance, Inc RS $417.00 $211.54 −49% vs STP
Nucor Corporation NUE $244.97 $116.49 −52% vs STP
Jindal Steel Limited JINDALSTEL ₹1,165 ₹516.03 −56% vs STP
Steel Dynamics, Inc STLD $222.90 $89.54 −60% vs STP
Inner Mongolia Baotou Steel Union Co 600010 ¥1.99 ¥0.5400 −73% vs STP

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Stalprodukt SA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Stalprodukt SA Fair Value". https://www.fairvalue-calculator.com/stock/STP

Frequently asked questions

Is Stalprodukt SA (STP) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of 387.20 PLN versus a price of 242.00 PLN, about +60% upside (undervalued).
What is the fair value of STP?
Our model-based fair value for Stalprodukt SA is 387.20 PLN (as of Nov 9, 2026), built from audited fundamentals. The current price: 242.00 PLN.
What is the quality score of STP?
Stalprodukt SA has a Quality Score of 50/100. 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 Stalprodukt SA (STP)?
Our model-based price target is the fair value of 387.20 PLN (as of Nov 9, 2026) from 2 valuation models. Cautious scenario 327.78 PLN, optimistic scenario 446.61 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Stalprodukt SA stock forecast for 2026?
Our models put fair value at 387.20 PLN, about +60% upside versus a price of 242.00 PLN (undervalued). Cautious scenario 327.78 PLN, optimistic scenario 446.61 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Stalprodukt SA (STP)?
Stalprodukt SA reported trailing-twelve-month revenue of about 3.7B PLN (latest available figure, as of Nov 9, 2026).
Does Stalprodukt SA pay a dividend?
Stalprodukt SA currently shows a dividend yield of 2.69% relative to its recent price (as of Nov 9, 2026).
How much is the dividend of Stalprodukt SA (STP)?
Stalprodukt SA has a dividend yield of 2.7%.
What is the intrinsic value of Stalprodukt SA (STP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Stalprodukt SA it is 387.20 PLN per share (as of Nov 9, 2026), against a price of 242.00 PLN. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is Stalprodukt SA stock overvalued or undervalued in 2026?
As of Nov 9, 2026, STP trades below its calculated fair value: price 242.00 PLN, fair value 387.20 PLN, a gap of about +60% (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 STP?
No. The price is what the market pays today (242.00 PLN); the fair value is what the company's own numbers justify (387.20 PLN). For Stalprodukt SA the two are 145.20 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Stalprodukt SA worth?
The market values Stalprodukt SA at about 1.2B PLN (market capitalisation, as of Nov 9, 2026). Per share that is 242.00 PLN; our models calculate a fair value of 387.20 PLN per share.
What do the bullish and bearish scenarios say about STP?
Our models span a range for Stalprodukt SA: cautious scenario 327.78 PLN, base 387.20 PLN, optimistic 446.61 PLN per share (as of Nov 9, 2026, price 242.00 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Stalprodukt SA (STP)?
Balance-sheet figures for Stalprodukt SA (as of Nov 9, 2026): return on equity −1.3%. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is STP from its 52-week high?
Stalprodukt SA trades at 242.00 PLN, about 9% below its 52-week high of 266.00 PLN and 20% above the low of 202.00 PLN (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 387.20 PLN is for.
Which stocks are comparable to Stalprodukt SA?
From the same area (Basic Materials) we also value Nucor Corporation, ArcelorMittal S.A, Steel Dynamics, Inc, JSW Steel Limited, 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 Stalprodukt SA stock attractive at the current price?
The data as of Nov 9, 2026: price 242.00 PLN, calculated fair value 387.20 PLN (+60%), Quality Score 50/100, from 2 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 STP calculated?
We run Stalprodukt SA through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of 387.20 PLN builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Stalprodukt SA currently trades 38% 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 Stalprodukt SA (STP)?
The closing price on Nov 6, 2026 was 242.00 PLN. Our model-based fair value is 387.20 PLN, about +60% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Stalprodukt SA right now?
The price is below even our cautious bear case (327.78 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 (50/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Stalprodukt SA (STP) come from?
Earnings per share at Stalprodukt SA grew −12.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +5.7 %, EBIT margin −18.4 %, tax rate −2.1 %, residual (interest, one-offs) +3.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Stalprodukt SA

How large is the market capitalisation of Stalprodukt SA (STP)?
The market capitalisation of Stalprodukt SA is 1.2B PLN (≈ $315M). 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 Stalprodukt SA (STP)?
The price-to-sales ratio of Stalprodukt SA is 0.32 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Stalprodukt SA (STP)?
Earnings per share at Stalprodukt SA are −9.65 PLN. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Stalprodukt SA (STP)?
The dividend yield of Stalprodukt SA is 2.7%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Stalprodukt SA (STP)?
The net margin of Stalprodukt SA is −1.4% (last twelve months). 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 Stalprodukt SA (STP)?
The return on equity (ROE) of Stalprodukt SA is −1.3% (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 Stalprodukt SA (STP)?
On an EBIT basis the return on assets of Stalprodukt SA is 4.6% (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 Stalprodukt SA (STP)?
The operating margin of Stalprodukt SA is −0.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Stalprodukt SA (STP)?
Revenue at Stalprodukt SA is growing +7.2% versus a year earlier (3y avg −14.1%). 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 Stalprodukt SA (STP)?
Earnings per share at Stalprodukt SA are growing −84.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Stalprodukt SA (STP) generate?
The free cash flow of Stalprodukt SA is −194M PLN (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Stalprodukt SA (STP) hold?
Stalprodukt SA holds more cash than debt, 736M PLN net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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