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Tarczynski S.A (TAR) Fair Value & Analysis

Consumer Defensive · PL · Market cap 1.4B PLN

TS Tarczynski S.A TAR · WAR
Price123.50 PLN
Fair Value53.74 PLN
Upside-56.5%
Quality43/100
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Expensive Growth
Thin margins · 6.5% net margin
Moderate debt · negative free cash flow
2.16% dividend yield
Ranks above peers (9/13)
Moderate moat 51/100
Evidence: Medium Range 39.58 PLN – 67.18 PLN Share as image

Fair value as of: Jul 15, 2026

From 14 valuation models · updated 26 days ago

Fair value updated Jul 15, 2026, revised from 221.71 PLN to 53.74 PLN (−75.8%) since Jun 24, 2026. Share price +0.4% over the past month.

Below-average quality, and screening another 56% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (67.18 PLN). The favourable scenario is already priced in.
  • Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

145.46 PLN 20.30 PLN Fair Value 53.74 PLN Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 20.30 PLN – 145.46 PLN · fair‑value band 39.58 PLN – 67.18 PLN · the 123.50 PLN price screens above the 53.74 PLN fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Tarczynski S.A (TAR) currently trades at 123.50 PLN, while our model-based Fair Value estimate is 53.74 PLN, implying the stock looks roughly 56.5% overvalued today. The Quality Score stands at 43/100 (below-average quality), in the Consumer Defensive 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: medium).

Over the trailing twelve months, Tarczynski S.A generated revenue of 2.2B PLN at a net margin of 5.9%. Revenue grew 7.1% year over year. It earns a return on equity of 19.1%. Net debt stands at 1.0B PLN. Fundamentals as of Jul 15, 2026

Our scenario range runs from 39.58 PLN (bear case) to 67.18 PLN (bull case); at 123.50 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 5% below its 52-week high and 18% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -56%, TAR 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.

Model 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
Highest evidence
Residual Income 63.61 PLN 83.77 PLN 222.05 PLN 76
ROIC Compounder 86.48 PLN 126.60 PLN 171.11 PLN 72
Growth-Adj P/E 175.49 PLN 250.70 PLN 325.91 PLN 68
All 14 models by family
Earnings-Based
Graham-Dodd 75.33 PLN 417.26 PLN 579.17 PLN 54
Lynch FV 116.40 PLN 166.29 PLN 216.18 PLN 50
PEG = 1.0 116.40 PLN 166.29 PLN 216.18 PLN 46
EPV 78.83 PLN 95.19 PLN 108.83 PLN 59
Multiples
P/E Multiple 174.49 PLN 232.65 PLN 290.81 PLN 63
P/S Multiple 141.25 PLN 188.34 PLN 235.42 PLN 58
P/B Multiple 141.25 PLN 188.34 PLN 235.42 PLN 55
EV/EBIT 171.33 PLN 242.16 PLN 312.99 PLN 53
EV/EBITDA 202.20 PLN 283.33 PLN 364.45 PLN 54
EV/Revenue 110.49 PLN 175.49 PLN 240.49 PLN 43
Asset-Based
NCAV (Graham) 31.92 PLN 42.77 PLN 63.84 PLN 50
Economic Profit
Residual Income 63.61 PLN 83.77 PLN 222.05 PLN 76
ROIC Compounder 86.48 PLN 126.60 PLN 171.11 PLN 72
Growth Earnings
Growth-Adj P/E 175.49 PLN 250.70 PLN 325.91 PLN 68

Widest divergence: Growth Earnings (250.70 PLN) versus Asset-Based (42.77 PLN). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 2.3B PLN
Revenue growth (YoY) +7.1%
Net margin 5.9%
Return on equity 20.4%
Free cash flow −137M PLN FY2025
P/E ratio 10.8
More key figures
Operating margin 8.2%
EPS (TTM) 11.45 PLN
Dividend yield 2.2%
EPS growth (YoY) +74.1%
Net debt 1.0B PLN FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 43 · Market factors (momentum, volatility) 64

Profitability 54
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 18
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 64
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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

Tarczynski S.A. processes, produces, distributes, and sells meat products in Poland. It offers Kabanos, a meat snacks; Tarczynski Naturally, a meat without preservatives; sausage products under the FRANKFURTERS name; Beef Jerky and Strips under the Protein name; meat snacks for children under the Gryzzale name; plant-based sausages; and cure meat products.

Full company description

Tarczynski S.A. processes, produces, distributes, and sells meat products in Poland. It offers Kabanos, a meat snacks; Tarczynski Naturally, a meat without preservatives; sausage products under the FRANKFURTERS name; Beef Jerky and Strips under the Protein name; meat snacks for children under the Gryzzale name; plant-based sausages; and cure meat products. The company was founded in 1991 and is headquartered in Trzebnica, Poland.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Tarczynski S.A reported revenue of 2.2B PLN in FY2025 versus 1.2B PLN in FY2021, a compound +17.1%/yr. Reported net income was 126M PLN in FY2025, compounding +7.1%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
2.2B PLN
Latest YoY
+8.5%
Avg. growth/yr (3Y) 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.
+11.6%
Avg. growth/yr (5Y) 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.
+17.0%
Avg. growth/yr (15Y) 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.
+14.0%
Revenue +17.1%/yr
FY21 1.2B PLN
FY22 1.6B PLN
FY23 1.9B PLN
FY24 2.1B PLN
FY25 2.2B PLN
Net income +7.1%/yr
FY21 95.6M PLN
FY22 97.7M PLN
FY23 133M PLN
FY24 120M PLN
FY25 126M PLN
Character of growth · EPS growth decomposed (2014-2025) +27.8 % p.a.
Revenue per share +15.6 pp

of which total revenue +15.6 pp · buybacks/dilution +0.0 pp

EBIT margin +7.8 pp
Tax rate +2.9 pp
Residual (interest, one-offs) +1.5 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).

TAR screens 56% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "Tarczynski S.A Fair Value". https://www.fairvalue-calculator.com/stock/TAR

Peer Group

Packaged Foods · 649 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.

Quality Score 43 · Bottom 25%
Fair Value upside −57% · Bottom 25%
Return on equity (TTM) 20% · Top 25%
Return on assets 6% · Above median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 7% · Above median
Dividend yield (TTM) 2.2% · Below median
Debt / equity 0.70× · Higher than 75% of peers

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 9.5× · Cheaper than 75% of peers
P/B 0.52× · Cheaper than 75% of peers
P/S (TTM) 0.16× · Cheaper than 75% of peers
EV/EBITDA 3.2× · Cheaper than 75% of peers

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 · sector 28
FUTURE 36 · sector 20
PAST 81 · sector 27
HEALTH 65 · sector 96
DIVIDEND 43 · sector 47

VALUE 0: the price sits above our fair-value range.

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Tarczynski S.A (TAR) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 53.74 PLN versus a price of 123.50 PLN, about −56% (overvalued).
What is the fair value of TAR?
Our model-based fair value for Tarczynski S.A is 53.74 PLN (as of Jul 15, 2026), built from audited fundamentals. The current price is 123.50 PLN.
What is the quality score of TAR?
Tarczynski S.A has a Quality Score of 43/100. 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 revenue of Tarczynski S.A (TAR)?
Tarczynski S.A reported trailing-twelve-month revenue of about 2.2B PLN (latest available figure, as of Jul 15, 2026).
What is the net profit margin of TAR?
The net profit margin of Tarczynski S.A is about 5.9%, meaning it keeps roughly 5.9% of revenue as net income. Based on the latest reported figures.
Does Tarczynski S.A pay a dividend?
Tarczynski S.A currently shows a dividend yield of about 2.17% relative to its recent price (as of Jul 15, 2026).

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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