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Gielda Praw Majatkowych Vindexus Spolka Akcyjna (VIN) Fair Value & Analysis

Industrials · PL · Market cap 163M PLN

GP Gielda Praw Majatkowych Vindexus Spolka Akcyjna VIN · WAR
Price14.90 PLN
Fair Value7.23 PLN
Upside-51.5%
Quality56/100
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Expensive Growth
Solidly profitable · 18.5% net margin
Low debt · negative free cash flow
3.46% dividend yield
Ranks above peers (11/13)
Moderate moat 59/100
Evidence: High Range 4.32 PLN – 10.81 PLN Share as image

Fair value as of: Jul 11, 2026

From 17 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from 37.51 PLN to 7.23 PLN (−80.7%) since Jun 25, 2026. Share price +1.4% over the past month.

A solid business, but screening 51% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (10.81 PLN). The favourable scenario is already priced in.
  • Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (4.32 PLN to 10.81 PLN) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

15.10 PLN 4.18 PLN Fair Value 7.23 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range 4.18 PLN – 15.10 PLN · fair‑value band 4.32 PLN – 10.81 PLN · the 14.90 PLN price screens above the 7.23 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Gielda Praw Majatkowych Vindexus Spolka Akcyjna (VIN) currently trades at 14.90 PLN, while our model-based Fair Value estimate is 7.23 PLN, implying the stock looks roughly 51.5% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Industrials 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: high).

Over the trailing twelve months, Gielda Praw Majatkowych Vindexus Spolka Akcyjna generated revenue of 138M PLN at a net margin of 19.5%. Revenue declined 18.3% year over year. It earns a return on equity of 9.2%. Net debt stands at 78.4M PLN. Fundamentals as of Jul 11, 2026

Our scenario range runs from 4.32 PLN (bear case) to 10.81 PLN (bull case); at 14.90 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 4% below its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at -51%, VIN 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 21.04 PLN 21.88 PLN 22.63 PLN 76
ROIC Compounder 17.10 PLN 19.67 PLN 21.76 PLN 72
Gordon GGM 3.33 PLN 5.58 PLN 7.24 PLN 70
All 17 models by family
DCF Models
Owner Earnings 19.22 PLN 35.18 PLN 59.28 PLN 31
Earnings-Based
Graham-Dodd 16.53 PLN 86.32 PLN 119.43 PLN 54
Lynch FV 23.67 PLN 33.81 PLN 43.96 PLN 50
PEG = 1.0 23.67 PLN 33.81 PLN 43.96 PLN 46
EPV 17.10 PLN 19.67 PLN 21.76 PLN 59
Dividend Discount
Gordon GGM 3.33 PLN 5.58 PLN 7.24 PLN 70
DDM Multi-Stage 3.33 PLN 5.29 PLN 6.01 PLN 61
Multiples
P/E Multiple 38.28 PLN 51.05 PLN 63.81 PLN 63
P/S Multiple 18.68 PLN 24.90 PLN 31.13 PLN 58
P/B Multiple 30.99 PLN 41.32 PLN 51.65 PLN 55
EV/EBIT 42.11 PLN 57.59 PLN 73.07 PLN 53
EV/EBITDA 31.75 PLN 43.79 PLN 55.82 PLN 54
EV/Revenue 11.35 PLN 18.07 PLN 24.80 PLN 43
Asset-Based
NCAV (Graham) 13.82 PLN 18.52 PLN 27.64 PLN 50
Economic Profit
Residual Income 21.04 PLN 21.88 PLN 22.63 PLN 76
ROIC Compounder 17.10 PLN 19.67 PLN 21.76 PLN 72
Growth Earnings
Growth-Adj P/E 35.31 PLN 50.44 PLN 65.58 PLN 68

Widest divergence: Growth Earnings (50.44 PLN) versus Dividend Discount (5.29 PLN). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 141M PLN
Revenue growth (YoY) +9.5%
Net margin 18.5%
Return on equity 8.7%
Free cash flow −19.6M PLN FY2025
P/E ratio 6.0
More key figures
Operating margin 21.7%
EPS (TTM) 2.45 PLN
Dividend yield 3.5%
EPS growth (YoY) -16.9%
Net debt 78.4M PLN FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 56/100

Of which business quality 52 · Market factors (momentum, volatility) 74

Profitability 41
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 66
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 81
Distance to the 52-week high (market factor)
Net Issuance 99
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

Gielda Praw Majatkowych Vindexus Spolka Akcyjna provides debt management services in Poland. It offers securitization funds; debt recovery services; and debt collection and trading services. Gielda Praw Majatkowych Vindexus Spolka Akcyjna was founded in 1995 and is headquartered in Warsaw, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Gielda Praw Majatkowych Vindexus Spolka Akcyjna reported revenue of 138M PLN in FY2025 versus 126M PLN in FY2021, a compound +2.4%/yr. Reported net income was 26.9M PLN in FY2025, compounding −7.0%/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)
138M PLN
Latest YoY
+16.7%
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.
+6.0%
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.
+22.1%
Avg. growth/yr (17Y) 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.
+12.7%
Revenue +2.4%/yr
FY21 126M PLN
FY22 116M PLN
FY23 105M PLN
FY24 118M PLN
FY25 138M PLN
Net income −7.0%/yr
FY21 36.0M PLN
FY22 32.2M PLN
FY23 18.6M PLN
FY24 25.3M PLN
FY25 26.9M PLN
Character of growth · EPS growth decomposed (2013-2024) +8.9 % p.a.
Revenue per share +9.8 pp

of which total revenue +9.9 pp · buybacks/dilution −0.1 pp

EBIT margin +0.3 pp
Tax rate −1.1 pp
Residual (interest, one-offs) −0.1 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).

VIN screens 51% overvalued. Compare with Cintas Corporation →

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Cite: Fair Value Calculator (2026). "Gielda Praw Majatkowych Vindexus Spolka Akcyjna Fair Value". https://www.fairvalue-calculator.com/stock/VIN

Peer Group

Specialty Business Services · 253 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 56 · Above median
Fair Value upside −52% · Bottom 25%
Return on equity (TTM) 9% · Above median
Return on assets 5% · Above median
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth 10% · Above median
Dividend yield (TTM) 3.5% · Above median
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 6.0× · Cheaper than 75% of peers
P/B 0.14× · Cheaper than 75% of peers
P/S (TTM) 0.31× · Cheaper than 75% of peers
EV/EBITDA 2.4× · 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 24
FUTURE 48 · sector 27
PAST 35 · sector 33
HEALTH 88 · sector 92
DIVIDEND 69 · sector 54

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

Insider activity: 30/100

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 Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $206.25 $95.30 -54%
RELX PLC RELX $33.70 $32.49 -4%
Thomson Reuters Corporation TRI C$133.87 C$70.40 -47%
Copart, Inc CPRT $27.61 $28.59 +4%
Global Payments Inc GPN $80.49 $69.67 -13%
RB Global, Inc RBA C$156.43 C$49.14 -69%
Brambles Limited BXB A$18.79 A$12.28 -35%
UL Solutions Inc ULS $87.76 $33.62 -62%
Wolters Kluwer N.V WKL €62.56 €103.99 +66%
Aramark ARMK $56.74 $13.73 -76%

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Frequently asked questions

Is Gielda Praw Majatkowych Vindexus Spolka Akcyjna (VIN) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of 7.23 PLN versus a price of 14.90 PLN, about −51% (overvalued).
What is the fair value of VIN?
Our model-based fair value for Gielda Praw Majatkowych Vindexus Spolka Akcyjna is 7.23 PLN (as of Jul 11, 2026), built from audited fundamentals. The current price is 14.90 PLN.
What is the quality score of VIN?
Gielda Praw Majatkowych Vindexus Spolka Akcyjna has a Quality Score of 56/100. 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 Gielda Praw Majatkowych Vindexus Spolka Akcyjna (VIN)?
Gielda Praw Majatkowych Vindexus Spolka Akcyjna reported trailing-twelve-month revenue of about 138M PLN (latest available figure, as of Jul 11, 2026).
What is the net profit margin of VIN?
The net profit margin of Gielda Praw Majatkowych Vindexus Spolka Akcyjna is about 19.5%, meaning it keeps roughly 19.5% of revenue as net income. Based on the latest reported figures.

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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