Seco/Warwick SA (SWG) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Seco/Warwick SA PLN 42.72, price PLN 34.00, upside +25.7%, quality 57 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 23, 2026.
How to read this chart
60‑month range 10.29 PLN – 43.60 PLN · fair‑value band 26.01 PLN – 46.41 PLN · the 34.00 PLN price screens below the 42.72 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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Seco/Warwick S.A. engages in the manufacture and sale of heat treatment furnaces for metals in the European Union, Russia, the United States, Asia, and internationally.
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Seco/Warwick S.A. engages in the manufacture and sale of heat treatment furnaces for metals in the European Union, Russia, the United States, Asia, and internationally. The company offers vacuum and atmosphere furnaces, aluminium heat treatment products, vacuum metallurgy products, automation services, metal heat treatment services, and professional engineering services, as well as aluminium controlled atmosphere brazing services. It also provides spare parts and repair services; and manufactures metallurgy equipment that are used for melting and vacuum casting of metals and specialty alloys. Seco/Warwick S.A. was founded in 1991 and is headquartered in Swiebodzin, Poland.
Stock analysis
Seco/Warwick SA (SWG) currently trades at 34.00 PLN, while our model-based Fair Value estimate is 42.72 PLN, implying the stock looks roughly 20.4% undervalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 75.44 PLN per share, and 10 of the 17 models we run sit above the 34.00 PLN price.
Bear case: the Dividend Discount group reads lowest at 12.55 PLN, and 7 of the 17 models stay below the price. Evidence for this calculation is high.
Scenario range: 26.01 PLN (bear) to 46.41 PLN (bull), the price of 34.00 PLN sits inside 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 57/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Seco/Warwick SA reported revenue of 746M PLN in FY2025 versus 463M PLN in FY2021, a compound +12.7%/yr. Reported net income was 26.1M PLN in FY2025, compounding +11.5%/yr from FY2021.
Key figures
Market cap 247M PLN (≈ $64.3M) · P/E ratio 8.4 · P/S ratio 0.30 · EPS (TTM) 4.03 PLN · Dividend yield 3.5% · Net margin 3.5% · Return on equity 11.9% · Return on assets (EBIT) 6.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 29% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −50% fair-value upside, at 26%, SWG screens cheaper than that median.
Fair Value models
Bear 26.01 PLNFair Value 42.72 PLNBull 46.41 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 (2.08 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.58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+4.6%
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.
+6.2%
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.
+13.9%
Start year 2020 (pandemic). Over 10 years: +4.5% a year
Revenue growth 18 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.
+5.8%
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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.
+22.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.5%
Dividend (yield on the price)3.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.19% vs 7%, picking up
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.5% → 6%
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.Specialty Industrial Machinery · 828 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Above median
Fair Value upside+26% · Top 25%
Profitability
Return on equity (TTM)12% · Above median
Return on assets4% · Above median
Net margin (TTM)4% · Below median
Operating margin (TTM)5% · Below median
Growth and dividend
Revenue growth−3% · Below median
Dividend yield (TTM)3.5% · Top 25%
Balance sheet
Debt / equity0.21× · Above median
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Seco/Warwick SA Fair Value". https://www.fairvalue-calculator.com/stock/SWG
Frequently asked questions
Is Seco/Warwick SA (SWG) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 42.72 PLN versus a price of 34.00 PLN, about +26% upside (undervalued).
What is the fair value of SWG?
Our model-based fair value for Seco/Warwick SA is 42.72 PLN (as of Sep 23, 2026), built from audited fundamentals. The current price: 34.00 PLN.
What is the quality score of SWG?
Seco/Warwick SA has a Quality Score of 57/100. 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 Seco/Warwick SA (SWG)?
Our model-based price target is the fair value of 42.72 PLN (as of Sep 23, 2026) from 17 valuation models. Cautious scenario 26.01 PLN, optimistic scenario 46.41 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Seco/Warwick SA stock forecast for 2026?
Our models put fair value at 42.72 PLN, about +26% upside versus a price of 34.00 PLN (undervalued). Cautious scenario 26.01 PLN, optimistic scenario 46.41 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Seco/Warwick SA (SWG)?
Seco/Warwick SA reported trailing-twelve-month revenue of about 740M PLN (latest available figure, as of Sep 23, 2026).
Does Seco/Warwick SA pay a dividend?
Seco/Warwick SA currently shows a dividend yield of about 3.53% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Seco/Warwick SA (SWG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Seco/Warwick SA it is 42.72 PLN per share (as of Sep 23, 2026), against a price of 34.00 PLN. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Seco/Warwick SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, SWG trades below its calculated fair value: price 34.00 PLN, fair value 42.72 PLN, a gap of about +26% (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 SWG?
No. The price is what the market pays today (34.00 PLN); the fair value is what the company's own numbers justify (42.72 PLN). For Seco/Warwick SA the two are 8.72 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Seco/Warwick SA worth?
The market values Seco/Warwick SA at about 247M PLN (market capitalisation, as of Sep 23, 2026). Per share that is 34.00 PLN; our models calculate a fair value of 42.72 PLN per share.
What do the bullish and bearish scenarios say about SWG?
Our models span a range for Seco/Warwick SA: cautious scenario 26.01 PLN, base 42.72 PLN, optimistic 46.41 PLN per share (as of Sep 23, 2026, price 34.00 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SWG?
Seco/Warwick SA trades at a price-to-earnings ratio of 8.4 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 42.72 PLN is built from several models across several years. Other multiples: P/B 0.3, P/S 0.1, EV/EBITDA 1.0.
How solid is the balance sheet of Seco/Warwick SA (SWG)?
Balance-sheet figures for Seco/Warwick SA (as of Sep 23, 2026): return on equity 11.9%, debt of 0.21 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is SWG from its 52-week high?
Seco/Warwick SA trades at 34.00 PLN, about 22% below its 52-week high of 43.60 PLN and 29% above the low of 26.26 PLN (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 42.72 PLN is for.
Which stocks are comparable to Seco/Warwick SA?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, 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 Seco/Warwick SA stock attractive at the current price?
The data as of Sep 23, 2026: price 34.00 PLN, calculated fair value 42.72 PLN (+26%), Quality Score 57/100, from 17 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 SWG calculated?
We run Seco/Warwick SA through 17 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 42.72 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. Seco/Warwick SA currently trades 26 % 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 Seco/Warwick SA (SWG)?
The closing price on Sep 24, 2026 was 34.00 PLN. Our model-based fair value is 42.72 PLN, about +26% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Seco/Warwick SA right now?
Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Seco/Warwick SA
How large is the market capitalisation of Seco/Warwick SA (SWG)?
The market capitalisation of Seco/Warwick SA is 247M PLN (≈ $64.3M). 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 Seco/Warwick SA (SWG)?
The price-to-sales ratio of Seco/Warwick SA is 0.30 (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 Seco/Warwick SA (SWG)?
Earnings per share at Seco/Warwick SA are 4.03 PLN (price ÷ EPS = P/E 8.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Seco/Warwick SA (SWG)?
The dividend yield of Seco/Warwick SA is 3.5% (payout 29.8%). 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 Seco/Warwick SA (SWG)?
The net margin of Seco/Warwick SA is 3.5% (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 Seco/Warwick SA (SWG)?
The return on equity (ROE) of Seco/Warwick SA is 11.9% (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 Seco/Warwick SA (SWG)?
On an EBIT basis the return on assets of Seco/Warwick SA is 6.0% (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 Seco/Warwick SA (SWG)?
The operating margin of Seco/Warwick SA is 5.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Seco/Warwick SA (SWG)?
Revenue at Seco/Warwick SA is growing −3.2% versus a year earlier (3y avg +6.2%). 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 Seco/Warwick SA (SWG)?
Earnings per share at Seco/Warwick SA are growing +33.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Seco/Warwick SA (SWG) generate?
The free cash flow of Seco/Warwick SA is −45.4M 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 debt does Seco/Warwick SA (SWG) carry?
The net debt of Seco/Warwick SA is 48.8M PLN (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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