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Torpol S.A (TOR) Fair Value & Analysis

Industrials · PL · Market cap 1.7B PLN

TS Torpol S.A TOR · WAR
Price67.70 PLN
Fair Value71.39 PLN
Upside+5.5%
Quality73/100
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Healthy Growth
Thin margins · 4.1% net margin
Low debt · generates free cash flow
4.64% dividend yield
Ranks above peers (10/13)
Narrow moat 43/100
Evidence: High Range 53.54 PLN – 89.24 PLN Share as image

Fair value as of: Jul 17, 2026

From 26 valuation models · updated 24 days ago

Share price −5.0% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from 53.54 PLN (bear) to 89.24 PLN (bull), base 71.39 PLN. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 73/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

73.50 PLN 8.10 PLN Fair Value 71.39 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 8.10 PLN – 73.50 PLN · fair‑value band 53.54 PLN – 89.24 PLN · the 67.70 PLN price screens below the 71.39 PLN fair value. Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Torpol S.A (TOR) currently trades at 67.70 PLN, while our model-based Fair Value estimate is 71.39 PLN, implying the stock looks roughly 5.5% fairly valued today. The Quality Score stands at 73/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Torpol S.A generated revenue of 1.9B PLN at a net margin of 4.1%. Revenue declined 13.2% year over year. It earns a return on equity of 13.9%. The balance sheet holds a net cash position of 591M PLN. Fundamentals as of Jul 17, 2026

Our scenario range runs from 53.54 PLN (bear case) to 89.24 PLN (bull case); at 67.70 PLN, the current price sits within 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 8% below its 52-week high and 91% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 5%, TOR screens cheaper 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
Growth DCF 228.06 PLN 328.84 PLN 465.74 PLN 80
Residual Income 22.77 PLN 26.56 PLN 47.13 PLN 76
Rev-Margin DCF 127.27 PLN 162.84 PLN 207.21 PLN 74
All 26 models by family
DCF Models
FCF DCF 228.81 PLN 338.29 PLN 494.02 PLN 38
Owner Earnings 54.84 PLN 69.72 PLN 90.89 PLN 31
5Y Revenue Exit 127.27 PLN 159.72 PLN 197.57 PLN 39
5Y EBITDA Exit 133.59 PLN 172.08 PLN 214.83 PLN 41
5Y P/E Exit 134.75 PLN 174.35 PLN 215.06 PLN 38
10Y Revenue Exit 164.91 PLN 204.98 PLN 254.75 PLN 36
10Y EBITDA Exit 169.66 PLN 213.01 PLN 267.30 PLN 37
10Y P/E Exit 170.35 PLN 214.49 PLN 267.46 PLN 35
Earnings-Based
Graham-Dodd 23.12 PLN 88.28 PLN 119.58 PLN 54
Lynch FV 21.49 PLN 30.70 PLN 39.91 PLN 50
PEG = 1.0 21.49 PLN 30.70 PLN 39.91 PLN 46
EPV 53.30 PLN 56.82 PLN 59.75 PLN 59
Dividend Discount
Gordon GGM 10.49 PLN 18.90 PLN 26.02 PLN 70
DDM Multi-Stage 10.49 PLN 17.26 PLN 20.19 PLN 61
Multiples
P/E Multiple 53.54 PLN 71.39 PLN 89.24 PLN 63
P/S Multiple 43.34 PLN 57.79 PLN 72.24 PLN 58
P/B Multiple 43.34 PLN 57.79 PLN 72.24 PLN 55
EV/EBIT 79.69 PLN 97.09 PLN 114.50 PLN 53
EV/EBITDA 78.91 PLN 96.05 PLN 113.19 PLN 54
EV/Revenue 64.74 PLN 80.71 PLN 96.68 PLN 43
Asset-Based
NCAV (Graham) 12.55 PLN 16.82 PLN 25.10 PLN 50
Growth DCF
Growth DCF 228.06 PLN 328.84 PLN 465.74 PLN 80
Rev-Margin DCF 127.27 PLN 162.84 PLN 207.21 PLN 74
Economic Profit
Residual Income 22.77 PLN 26.56 PLN 47.13 PLN 76
ROIC Compounder 53.30 PLN 56.82 PLN 59.75 PLN 72
Growth Earnings
Growth-Adj P/E 39.07 PLN 55.81 PLN 72.56 PLN 68

Widest divergence: DCF Models (174.35 PLN) versus Asset-Based (16.82 PLN). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.9B PLN
Revenue growth (YoY) -13.2%
Net margin 4.1%
Return on equity 13.9%
Free cash flow 466M PLN FY2025
P/E ratio 20.3
More key figures
Operating margin 2.9%
EPS (TTM) 3.41 PLN
Dividend yield 4.8%
EPS growth (YoY) +2.3%
Net cash 591M PLN FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 73/100

Of which business quality 75 · Market factors (momentum, volatility) 79

Profitability 49
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 94
Earnings quality: real cash, not paper profit
Fin. Strength 91
Balance sheet, leverage, solvency risk
Investment 62
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 70
Price trend over the last 3–12 months (market factor)
52W Momentum 91
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

Torpol S.A. engages in construction of railway infrastructure in Poland. The company offers railway infrastructure services in the construction and modernization of railway stations, tracks, and lines; implements track works; constructs overhead catenary system, power supply, and train traffic and control systems; and road and civil engineering structures.

Full company description

Torpol S.A. engages in construction of railway infrastructure in Poland. The company offers railway infrastructure services in the construction and modernization of railway stations, tracks, and lines; implements track works; constructs overhead catenary system, power supply, and train traffic and control systems; and road and civil engineering structures. It also provides oil and gas infrastructure, including design and construction services for installation of the oil and gas, chemical and petrochemical, energy, and hydrogen industries. In addition, the company offers urban infrastructure and machinery and equipment. Torpol S.A. was founded in 1991 and is based in Poznan, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Torpol S.A reported revenue of 2.0B PLN in FY2025 versus 1.1B PLN in FY2021, a compound +15.2%/yr. Reported net income was 78.1M PLN in FY2025, compounding +0.3%/yr from FY2021.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
2.0B PLN
Latest YoY
+35.7%
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.
+22.2%
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.
+7.3%
Avg. growth/yr (13Y) 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.
+13.5%
Revenue +15.2%/yr
FY21 1.1B PLN
FY22 1.1B PLN
FY23 1.1B PLN
FY24 1.5B PLN
FY25 2.0B PLN
Net income +0.3%/yr
FY21 77.1M PLN
FY22 184M PLN
FY23 102M PLN
FY24 67.9M PLN
FY25 78.1M PLN
Character of growth · EPS growth decomposed (2014-2025) +14.9 % p.a.
Revenue per share +4.9 pp

of which total revenue +5.6 pp · buybacks/dilution −0.7 pp

EBIT margin +7.1 pp
Tax rate +0.2 pp
Residual (interest, one-offs) +2.7 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).

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

Peer Group

Engineering & Construction · 841 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 73 · Top 25%
Fair Value upside +6% · Above median
Return on equity (TTM) 14% · Above median
Return on assets 5% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 3% · Below median
Revenue growth -13% · Below median
Dividend yield (TTM) 4.6% · Top 25%
Debt / equity 0.04× · Lower than median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 21.4× · Pricier than median
P/B 0.78× · Cheaper than median
P/S (TTM) 0.23× · Cheaper than median
P/FCF 1.0× · Cheaper than median

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 41 · sector 15
FUTURE 0 · sector 17
PAST 56 · sector 26
HEALTH 98 · sector 94
DIVIDEND 93 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Torpol S.A (TOR) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 71.39 PLN versus a price of 67.70 PLN, about +5% (fairly valued).
What is the fair value of TOR?
Our model-based fair value for Torpol S.A is 71.39 PLN (as of Jul 17, 2026), built from audited fundamentals. The current price is 67.70 PLN.
What is the quality score of TOR?
Torpol S.A has a Quality Score of 73/100. 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 Torpol S.A (TOR)?
Torpol S.A reported trailing-twelve-month revenue of about 1.9B PLN (latest available figure, as of Jul 17, 2026).
What is the net profit margin of TOR?
The net profit margin of Torpol S.A is about 4.1%, meaning it keeps roughly 4.1% of revenue as net income. Based on the latest reported figures.
Does Torpol S.A pay a dividend?
Torpol S.A currently shows a dividend yield of about 4.83% relative to its recent price (as of Jul 17, 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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