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Vigo System SA (VGO) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of Vigo System SA PLN 91.17, price PLN 570, upside -84.0%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Technology · PL · ISIN PLVIGOS00015

VS Thin data Sep 24, 2026

Vigo System SA

VGO · WAR

Weakest SetupStrongly overvalued and low quality.

!Fair value 91.17 PLN · Strongly overvalued (−84.0%)
!Quality 37/100
!Expensive Growth (revenue 5y +11.7 %/yr)
!Loss-making · -17.9% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (4/11)
!Narrow moat 11/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

802.00 PLN 402.00 PLN Fair Value 91.17 PLN Jun 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range 402.00 PLN – 802.00 PLN · fair‑value band 68.04 PLN – 136.07 PLN · the 570.00 PLN price screens above the 91.17 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

VIGO Photonics S.A. manufactures and sells semiconductor materials, and devices for photonic and microelectronic applications worldwide. It offers epi-wafers; infrared detectors comprising photoconductive, multi-channel, photovoltaic, and superlattice detectors; and infrared detection modules.

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VIGO Photonics S.A. manufactures and sells semiconductor materials, and devices for photonic and microelectronic applications worldwide. It offers epi-wafers; infrared detectors comprising photoconductive, multi-channel, photovoltaic, and superlattice detectors; and infrared detection modules. The company's products are used in defense and security, environmental protection, healthcare, transport, and research and development industries. VIGO Photonics S.A. was formerly known as VIGO System S.A. and changed its name to VIGO Photonics S.A. in August 2022. The company was founded in 1987 and is based in Ozarów Mazowiecki, Poland.

Stock analysis

Vigo System SA (VGO) currently trades at 570.00 PLN, while our model-based Fair Value estimate is 91.17 PLN, 84.0% below the price, so the stock looks overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: 68.04 PLN (bear) to 136.07 PLN (bull), the price of 570.00 PLN sits above 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 37/100 (below-average quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Vigo System SA reported revenue of 93.0M PLN in FY2025 versus 71.5M PLN in FY2021, a compound +6.8%/yr. Reported net income was −15.1M PLN in FY2025.

Key figures

Market cap 499M PLN (≈ $128M) · P/S ratio 5.27 · EPS (TTM) −18.50 PLN · Net margin −16.2% · Return on equity −10.0% · Return on assets (EBIT) −0.3% · Operating margin −8.9% · Revenue (TTM) 90.3M PLN.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).

What moves the price

The share trades about 14% below its 52-week high and 29% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −64% fair-value upside, at −84%, VGO screens richer than that median.

Fair Value models

Bear 68.04 PLN Fair Value 91.17 PLN Bull 136.07 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. 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. 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.
Highest evidence
NCAV (Graham) 89.84 PLN 120.39 PLN 179.68 PLN 54
All 1 models by family
Asset-Based
NCAV (Graham) 89.84 PLN 120.39 PLN 179.68 PLN 54

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Quality Score breakdown

Overall quality 37/100

Of which business quality 38 · Market factors (momentum, volatility) 54

Profitability 13
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 68
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 51
Distance to the 52-week high (market factor)
Net Issuance 48
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 39/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+18.8%
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.
+11.1%
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.
+11.7%
Start year 2020 (pandemic). Over 10 years: +13.8% 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.
+12.9%
Profit margin (trend) ⓘ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.
37.8% (2020) → −17.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

VGO screens overvalued: fair value 84% below the price. Compare with Amphenol Corporation →

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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.Electronic Components · 634 stocks

Beats the industry median on 4/10 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 39 · Bottom 25%
Fair Value upside −84.0% · Bottom 25%
Profitability
Return on assets −1.6% · Bottom 25%
Net margin (TTM) −17.9% · Bottom 25%
Operating margin (TTM) −8.9% · Bottom 25%
Growth and dividend
Revenue growth −12.5% · Bottom 25%
Balance sheet
Debt / equity 0.04× · Below median

Valuation Multiplesvs Electronic Components median · lower = cheaper

P/B 0.82× · Cheapest 25%
P/S (TTM) 1.42× · Cheaper than median
EV/EBITDA 16.6× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)0 · sector 59
PAST (return on equity)0 · sector 27
HEALTH (low debt)98 · sector 95
DIVIDEND (yield)0 · sector 25

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

Context: sector, industry, market

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

Similar stocks

10 more Electronic Components stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Amphenol Corporation APH $84.30 $84.44 +0%
Delta Electronics, Inc 2308 1,910 TWD 519.57 TWD −73%
Corning Incorporated GLW $153.76 $33.52 −78%
Hon Hai Precision Industry Co 2317 250.50 TWD 293.60 TWD +17%
Samsung Electro-Mechanics Co 009150 1,507,000 KRW 171,572 KRW −89%
TE Connectivity plc TEL $218.59 $142.45 −35%
Luxshare Precision Industry Co 002475 ¥52.00 ¥18.59 −64%
Elite Material Co 2383 5,050 TWD 787.47 TWD −84%
Shengyi Technology Co 600183 ¥137.33 ¥66.42 −52%
Celestica Inc CLS $373.09 $106.95 −71%

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Vigo System SA · Fair Value
91.17 PLN −84%Fair Value
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Cite: Fair Value Calculator (2026). "Vigo System SA Fair Value". https://www.fairvalue-calculator.com/stock/VGO

Frequently asked questions

Is Vigo System SA (VGO) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 91.17 PLN versus a price of 570.00 PLN, about −84% upside (overvalued).
What is the fair value of VGO?
Our model-based fair value for Vigo System SA is 91.17 PLN (as of Sep 24, 2026), built from audited fundamentals. The current price: 570.00 PLN.
What is the quality score of VGO?
Vigo System SA has a Quality Score of 37/100. 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 Vigo System SA (VGO)?
Our model-based price target is the fair value of 91.17 PLN (as of Sep 24, 2026) from 1 valuation models. Cautious scenario 68.04 PLN, optimistic scenario 136.07 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Vigo System SA stock forecast for 2026?
Our models put fair value at 91.17 PLN, about −84% upside versus a price of 570.00 PLN (overvalued). Cautious scenario 68.04 PLN, optimistic scenario 136.07 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Vigo System SA (VGO)?
Vigo System SA reported trailing-twelve-month revenue of about 90.3M PLN (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Vigo System SA (VGO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vigo System SA it is 91.17 PLN per share (as of Sep 24, 2026), against a price of 570.00 PLN. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Vigo System SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, VGO trades above its calculated fair value: price 570.00 PLN, fair value 91.17 PLN, a gap of about −84% (overvalued). 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 VGO?
No. The price is what the market pays today (570.00 PLN); the fair value is what the company's own numbers justify (91.17 PLN). For Vigo System SA the two are 478.83 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Vigo System SA worth?
The market values Vigo System SA at about 499M PLN (market capitalisation, as of Sep 24, 2026). Per share that is 570.00 PLN; our models calculate a fair value of 91.17 PLN per share.
What do the bullish and bearish scenarios say about VGO?
Our models span a range for Vigo System SA: cautious scenario 68.04 PLN, base 91.17 PLN, optimistic 136.07 PLN per share (as of Sep 24, 2026, price 570.00 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Vigo System SA (VGO)?
Balance-sheet figures for Vigo System SA (as of Sep 24, 2026): return on equity −10.0%, debt of 0.04 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is VGO from its 52-week high?
Vigo System SA trades at 570.00 PLN, about 14% below its 52-week high of 666.00 PLN and 29% above the low of 442.00 PLN (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of 91.17 PLN is for.
Which stocks are comparable to Vigo System SA?
From the same area (Technology) we also value Amphenol Corporation, Delta Electronics, Inc, Corning Incorporated, Hon Hai Precision Industry Co, 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 Vigo System SA stock attractive at the current price?
The data as of Sep 24, 2026: price 570.00 PLN, calculated fair value 91.17 PLN (−84%), Quality Score 37/100, from 1 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 VGO calculated?
We run Vigo System SA through 1 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 91.17 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 14.5 % above its aggregate fair value. Vigo System SA itself currently trades above fair value. 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 Vigo System SA (VGO)?
The closing price on Oct 2, 2026 was 570.00 PLN. Our model-based fair value is 91.17 PLN, about −84% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vigo System SA right now?
The price sits above even our optimistic bull case (136.07 PLN). The favourable scenario is already priced in. Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (68.04 PLN to 136.07 PLN) leaves room in how you read the outcome.

Key figures of Vigo System SA

How large is the market capitalisation of Vigo System SA (VGO)?
The market capitalisation of Vigo System SA is 499M PLN (≈ $128M). 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 Vigo System SA (VGO)?
The price-to-sales ratio of Vigo System SA is 5.27 (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 Vigo System SA (VGO)?
Earnings per share at Vigo System SA are −18.50 PLN. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Vigo System SA (VGO)?
The net margin of Vigo System SA is −16.2% (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 Vigo System SA (VGO)?
The return on equity (ROE) of Vigo System SA is −10.0% (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 Vigo System SA (VGO)?
On an EBIT basis the return on assets of Vigo System SA is −0.3% (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 Vigo System SA (VGO)?
The operating margin of Vigo System SA is −8.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Vigo System SA (VGO)?
Revenue at Vigo System SA is growing −12.5% versus a year earlier (3y avg +11.1%). 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 Vigo System SA (VGO)?
Earnings per share at Vigo System SA are growing −78.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Vigo System SA (VGO) generate?
The free cash flow of Vigo System SA is −19.1M 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 Vigo System SA (VGO) carry?
The net debt of Vigo System SA is 14.6M 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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