Torpol SA (TOR) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Torpol SA PLN 75.90, price PLN 69.00, upside +10.0%, quality 73 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 8.78 PLN – 73.50 PLN · fair‑value band 56.92 PLN – 94.88 PLN · the 69.00 PLN price screens below the 75.90 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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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.
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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.
Stock analysis
Torpol SA (TOR) currently trades at 69.00 PLN, while our model-based Fair Value estimate is 75.90 PLN, implying the stock looks roughly 9.1% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 175.21 PLN per share, and 15 of the 26 models we run sit above the 69.00 PLN price.
Bear case: the Asset-Based group reads lowest at 16.82 PLN, and 11 of the 26 models stay below the price. Evidence for this calculation is medium.
Scenario range: 56.92 PLN (bear) to 94.88 PLN (bull), the price of 69.00 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 73/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Torpol SA 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.
Key figures
Market cap 1.6B PLN (≈ $412M) · P/E ratio 20.2 · P/S ratio 0.80 · EPS (TTM) 3.41 PLN · Dividend yield 4.9% · Net margin 3.9% · Return on equity 13.9% · Return on assets (EBIT) 11.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 54% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at 10%, TOR screens cheaper than that median.
Fair Value models
Bear 56.92 PLNFair Value 75.90 PLNBull 94.88 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 (0.0147 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.79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+35.7%
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.
+22.2%
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.
+7.3%
Start year 2020 (pandemic). Over 10 years: +4.8% a year
Revenue growth 13 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.
+13.5%
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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.
+14.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+10.0%
Dividend (yield on the price)4.9%
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.10% vs 10%, steady
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% → 5%
Start year 2020 (pandemic)
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).
−31.2%
Yearly growth needed for the next five years to justify today's price.
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 −33.3% 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.Engineering & Construction · 840 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score73 · Top 25%
Fair Value upside+10% · Above median
Profitability
Return on equity (TTM)14% · Above median
Return on assets5% · Above median
Net margin (TTM)4% · Above median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth−13% · Below median
Dividend yield (TTM)4.9% · Top 25%
Balance sheet
Debt / equity0.04× · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Torpol SA Fair Value". https://www.fairvalue-calculator.com/stock/TOR
Frequently asked questions
Is Torpol SA (TOR) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 75.90 PLN versus a price of 69.00 PLN, about +10% upside (undervalued).
What is the fair value of TOR?
Our model-based fair value for Torpol SA is 75.90 PLN (as of Sep 23, 2026), built from audited fundamentals. The current price: 69.00 PLN.
What is the quality score of TOR?
Torpol SA 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 price target for Torpol SA (TOR)?
Our model-based price target is the fair value of 75.90 PLN (as of Sep 23, 2026) from 26 valuation models. Cautious scenario 56.92 PLN, optimistic scenario 94.88 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Torpol SA stock forecast for 2026?
Our models put fair value at 75.90 PLN, about +10% upside versus a price of 69.00 PLN (undervalued). Cautious scenario 56.92 PLN, optimistic scenario 94.88 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Torpol SA (TOR)?
Torpol SA reported trailing-twelve-month revenue of about 1.9B PLN (latest available figure, as of Sep 23, 2026).
Does Torpol SA pay a dividend?
Torpol SA currently shows a dividend yield of about 4.91% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Torpol SA (TOR)?
For today's price to be fair in a discounted-cash-flow model, Torpol SA would have to grow free cash flow by -31.2 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.3 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of TOR use?
Our models discount Torpol SA at 10.6 %: a base by market capitalisation (small), damped by beta 0.24, 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 Torpol SA that is -31.2 % 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 Torpol SA (TOR) delivered so far?
Over the past 5 years revenue at Torpol SA grew +7.3 % a year. The price currently implies -31.2 % 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 Torpol SA (TOR) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Torpol SA (-31.2 % 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 Torpol SA (TOR)?
The free-cash-flow yield on the price is 29.40 %: that much free cash flow Torpol SA 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 Torpol SA (TOR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Torpol SA it is 75.90 PLN per share (as of Sep 23, 2026), against a price of 69.00 PLN. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Torpol SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, TOR trades below its calculated fair value: price 69.00 PLN, fair value 75.90 PLN, a gap of about +10% (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 TOR?
No. The price is what the market pays today (69.00 PLN); the fair value is what the company's own numbers justify (75.90 PLN). For Torpol SA the two are 6.90 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Torpol SA worth?
The market values Torpol SA at about 1.6B PLN (market capitalisation, as of Sep 23, 2026). Per share that is 69.00 PLN; our models calculate a fair value of 75.90 PLN per share.
What do the bullish and bearish scenarios say about TOR?
Our models span a range for Torpol SA: cautious scenario 56.92 PLN, base 75.90 PLN, optimistic 94.88 PLN per share (as of Sep 23, 2026, price 69.00 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TOR?
Torpol SA trades at a price-to-earnings ratio of 20.2 (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 75.90 PLN is built from several models across several years. Other multiples: P/B 0.7, P/S 0.2.
How solid is the balance sheet of Torpol SA (TOR)?
Balance-sheet figures for Torpol SA (as of Sep 23, 2026): return on equity 13.9%, debt of 0.04 per unit of equity. They feed the Quality Score of 73/100, which measures business quality independently of the share price.
How far is TOR from its 52-week high?
Torpol SA trades at 69.00 PLN, about 6% below its 52-week high of 73.50 PLN and 54% above the low of 44.83 PLN (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 75.90 PLN is for.
Which stocks are comparable to Torpol SA?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro 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 Torpol SA stock attractive at the current price?
The data as of Sep 23, 2026: price 69.00 PLN, calculated fair value 75.90 PLN (+10%), Quality Score 73/100, 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 TOR calculated?
We run Torpol SA 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 75.90 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 14.0 % above its aggregate fair value. Torpol SA currently trades 10 % 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 Torpol SA (TOR)?
The closing price on Sep 24, 2026 was 69.00 PLN. Our model-based fair value is 75.90 PLN, about +10% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Torpol SA right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Torpol SA (TOR) come from?
Earnings per share at Torpol SA grew +14.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.9 %, EBIT margin +7.1 %, tax rate +0.2 %, residual (interest, one-offs) +2.1 %. 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 Torpol SA
How large is the market capitalisation of Torpol SA (TOR)?
The market capitalisation of Torpol SA is 1.6B PLN (≈ $412M). 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 Torpol SA (TOR)?
The price-to-sales ratio of Torpol SA is 0.80 (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 Torpol SA (TOR)?
Earnings per share at Torpol SA are 3.41 PLN (price ÷ EPS = P/E 20.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Torpol SA (TOR)?
The dividend yield of Torpol SA is 4.9% (payout 99.4%). 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 Torpol SA (TOR)?
The net margin of Torpol SA is 3.9% (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 Torpol SA (TOR)?
The return on equity (ROE) of Torpol SA is 13.9% (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 Torpol SA (TOR)?
On an EBIT basis the return on assets of Torpol SA is 11.1% (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 Torpol SA (TOR)?
The operating margin of Torpol SA is 2.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Torpol SA (TOR)?
Revenue at Torpol SA is growing −13.2% versus a year earlier (3y avg +22.2%). 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 Torpol SA (TOR)?
Earnings per share at Torpol SA are growing +2.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Torpol SA (TOR) hold?
Torpol SA holds more cash than debt, 591M PLN net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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