Software Mansion S.A (SWM) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of Software Mansion S.A stock PLN 52.05, price PLN 17.35, upside +200.0%, quality 74 out of 100. Rating: strongly undervalued. 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. As of Nov 5, 2026.
How to read this chart
37‑month range 15.70 PLN – 49.47 PLN · fair‑value band 33.16 PLN – 82.50 PLN · the 17.35 PLN price screens below the 52.05 PLN fair value. As of Nov 5, 2026.
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Software Mansion S.A. engages in software development in Poland and internationally. It undertakes projects in the areas of react native, multimedia and RTC, Elixir libraries, AI, and blockchain tools. The company was founded in 2012 and is based in Kraków, Poland.
Stock analysis
Software Mansion S.A (SWM) currently trades at 17.35 PLN, while our model-based Fair Value estimate is 52.05 PLN, implying the stock looks roughly 67% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 63.58 PLN per share, and 24 of the 26 models we run sit above the 17.35 PLN price.
Bear case: the Economic Profit group reads lowest at 11.92 PLN, and 2 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 33.16 PLN (bear) to 82.50 PLN (bull), the price of 17.35 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 74/100 (solid quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Software Mansion S.A reported revenue of 118M PLN in FY2025 versus 62.8M PLN in FY2022, a compound +23.4%/yr. Reported net income was 20.7M PLN in FY2025, compounding +6.5%/yr from FY2022.
Key figures
Market cap 188M PLN (≈ $48.1M) Micro · P/E ratio 15.2 · P/S ratio 1.48 · EPS (TTM) 1.14 PLN · Dividend yield 11.4% · Net margin 10.4% · Return on equity 34.2% · Return on assets (EBIT) 48.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 75 out of 100 (medium confidence).
What moves the price
The share trades about 58% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −16% fair-value upside, at 200%, SWM screens cheaper than that median.
Fair Value models
Bear33.16 PLNFair Value 52.05 PLNBull82.50 PLN
Price 17.35 PLN · Upside +200.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.9651 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. 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.
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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+18.3%
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.
+23.4%
’22
’23
’24
’25
What shareholders gained per year (last 3 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 3 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.
+23.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.3%
Dividend (yield on the price)11.4%
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%
The company could shrink this much every year for the next five years and today's price would still be justified.
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 −11.3% 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 - Infrastructure · 345 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score74 · Top 25%
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (12 months)34.2% · Top 25%
Return on assets34.3% · Top 25%
Net margin (12 months)10.4% · Above median
Operating margin (12 months)11.9% · Above median
Growth and dividend
Revenue growth (quarter YoY)17.8% · Above median
Dividend yield (12 months)11.4% · Top 25%
Valuation Multiplesvs Software - Infrastructure 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.
Is Software Mansion S.A (SWM) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 52.05 PLN versus a price of 17.35 PLN, about +200% upside (undervalued).
What is the fair value of SWM?
Our model-based fair value for Software Mansion S.A is 52.05 PLN (as of Nov 5, 2026), built from audited fundamentals. The current price: 17.35 PLN.
What is the quality score of SWM?
Software Mansion S.A has a Quality Score of 74/100. 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 Software Mansion S.A (SWM)?
Our model-based price target is the fair value of 52.05 PLN (as of Nov 5, 2026) from 26 valuation models. Cautious scenario 33.16 PLN, optimistic scenario 82.50 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Software Mansion S.A stock forecast for 2026?
Our models put fair value at 52.05 PLN, about +200% upside versus a price of 17.35 PLN (undervalued). Cautious scenario 33.16 PLN, optimistic scenario 82.50 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Software Mansion S.A (SWM)?
Software Mansion S.A reported trailing-twelve-month revenue of about 126M PLN (latest available figure, as of Nov 5, 2026).
Does Software Mansion S.A pay a dividend?
Software Mansion S.A currently shows a dividend yield of 11.35% relative to its recent price (as of Nov 5, 2026).
What growth is priced into Software Mansion S.A (SWM)?
For today's price to be fair in a discounted-cash-flow model, Software Mansion S.A would have to grow free cash flow by -8.5 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 3 years revenue grew +23.4 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of SWM use?
Our models discount Software Mansion S.A at 10.6 %: a base by market capitalisation (nano), 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 Software Mansion S.A that is -8.5 % per year a year over ten years, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Software Mansion S.A (SWM) delivered so far?
Over the past 3 years revenue at Software Mansion S.A grew +23.4 % 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 Software Mansion S.A (SWM) growing?
The median revenue growth in the sector is +15.6 % a year. That is the yardstick for the growth priced into Software Mansion 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 Software Mansion S.A (SWM)?
The free-cash-flow yield on the price is 12.75 %: that much free cash flow Software Mansion S.A produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Software Mansion S.A (SWM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Software Mansion S.A it is 52.05 PLN per share (as of Nov 5, 2026), against a price of 17.35 PLN. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Software Mansion S.A stock overvalued or undervalued in 2026?
As of Nov 5, 2026, SWM trades below its calculated fair value: price 17.35 PLN, fair value 52.05 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 SWM?
No. The price is what the market pays today (17.35 PLN); the fair value is what the company's own numbers justify (52.05 PLN). For Software Mansion S.A the two are 34.70 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Software Mansion S.A worth?
The market values Software Mansion S.A at about 188M PLN (market capitalisation, as of Nov 5, 2026). Per share that is 17.35 PLN; our models calculate a fair value of 52.05 PLN per share.
What do the bullish and bearish scenarios say about SWM?
Our models span a range for Software Mansion S.A: cautious scenario 33.16 PLN, base 52.05 PLN, optimistic 82.50 PLN per share (as of Nov 5, 2026, price 17.35 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SWM?
Software Mansion S.A trades at a price-to-earnings ratio of 15.2 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 52.05 PLN is built from several models across several years. Other multiples: P/B 4.1, P/S 1.5, EV/EBITDA 8.8.
How solid is the balance sheet of Software Mansion S.A (SWM)?
Balance-sheet figures for Software Mansion S.A (as of Nov 5, 2026): return on equity 34.2%. They feed the Quality Score of 74/100, which measures business quality independently of the share price.
How far is SWM from its 52-week high?
Software Mansion S.A trades at 17.35 PLN, about 58% below its 52-week high of 41.56 PLN and 11% above the low of 15.70 PLN (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of 52.05 PLN is for.
Which stocks are comparable to Software Mansion S.A?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, Palo Alto Networks, 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 Software Mansion S.A stock attractive at the current price?
The data as of Nov 5, 2026: price 17.35 PLN, calculated fair value 52.05 PLN (+200%), Quality Score 74/100, from 26 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 SWM calculated?
We run Software Mansion S.A through 26 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 52.05 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 15.0% above its aggregate fair value. Software Mansion S.A currently trades 67% 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 Software Mansion S.A (SWM)?
The closing price on Nov 4, 2026 was 17.35 PLN. Our model-based fair value is 52.05 PLN, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Software Mansion S.A right now?
The price is below even our cautious bear case (33.16 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 (74/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (33.16 PLN to 82.50 PLN) leaves room in how you read the outcome.
Key figures of Software Mansion S.A
How large is the market capitalisation of Software Mansion S.A (SWM)?
The market capitalisation of Software Mansion S.A is 188M PLN (≈ $48.1M). 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 Software Mansion S.A (SWM)?
The price-to-sales ratio of Software Mansion S.A is 1.48 (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 Software Mansion S.A (SWM)?
Earnings per share at Software Mansion S.A are 1.14 PLN (price ÷ EPS = P/E 15.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Software Mansion S.A (SWM)?
The dividend yield of Software Mansion S.A is 11.4% (payout 173%). 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 Software Mansion S.A (SWM)?
The net margin of Software Mansion S.A is 10.4% (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 Software Mansion S.A (SWM)?
The return on equity (ROE) of Software Mansion S.A is 34.2% (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 Software Mansion S.A (SWM)?
On an EBIT basis the return on assets of Software Mansion S.A is 48.4% (avg 4y). 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 Software Mansion S.A (SWM)?
The operating margin of Software Mansion S.A is 11.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Software Mansion S.A (SWM)?
Revenue at Software Mansion S.A is growing +17.8% versus a year earlier (3y avg +23.4%). 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 Software Mansion S.A (SWM)?
Earnings per share at Software Mansion S.A are growing −41.7% versus a year earlier. How much earnings per share grew versus a year earlier.
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