Votum SA (VOT) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Votum SA PLN 135, price PLN 44.90, upside +200.0%, quality 79 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Votum SA for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
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 9.55 PLN – 48.30 PLN · fair‑value band 79.63 PLN – 175.95 PLN · the 44.90 PLN price screens below the 134.70 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.
Follow Votum in your weekly email
Every Wednesday you see whether Votum is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Votum S.A. helps victims of traffic accidents in obtaining compensation from insurance companies. The company was founded in 2005 and is headquartered in Wroclaw, Poland
Stock analysis
Votum SA (VOT) currently trades at 44.90 PLN, while our model-based Fair Value estimate is 134.70 PLN, implying the stock looks roughly 66.7% undervalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of 288.99 PLN per share, and 25 of the 26 models we run sit above the 44.90 PLN price.
Bear case: the Asset-Based group reads lowest at 21.31 PLN, and 1 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: 79.63 PLN (bear) to 175.95 PLN (bull), the price of 44.90 PLN sits below 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 79/100 (high quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Votum SA reported revenue of 462M PLN in FY2025 versus 196M PLN in FY2021, a compound +24.0%/yr. Reported net income was 140M PLN in FY2025, compounding +93.1%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 539M PLN (≈ $140M) · P/E ratio 4.3 · P/S ratio 1.29 · EPS (TTM) 10.55 PLN · Net margin 30.3% · Return on equity 32.2% · Return on assets (EBIT) 28.2% · Operating margin 32.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 7% below its 52-week high and 26% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 0% fair-value upside, at 200%, VOT screens cheaper than that median.
Fair Value models
Bear 79.63 PLNFair Value 134.70 PLNBull 175.95 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 (1.62 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.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.5%
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.
+15.2%
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.
+25.2%
Start year 2020 (pandemic). Over 10 years: +17.5% a year
Revenue growth 16 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.
+16.5%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
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.
+69.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+69.3%
Dividend (yield on the price)0.0%
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.69% vs 27%, picking up
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.8% → 39%
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).
−29.1%
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 −31.2% a year for the price.
Price, fair value, quality and upside side by side.
Free, no sign-up
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.Specialty Business Services · 248 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score79 · Top 25%
Fair Value upside+200% · Top 25%
Profitability
Return on equity (TTM)32% · Top 25%
Return on assets15% · Top 25%
Net margin (TTM)28% · Top 25%
Operating margin (TTM)33% · Top 25%
Growth and dividend
Revenue growth−14% · Bottom 25%
Dividend yield (TTM)18.6% · Top 25%
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Specialty Business Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Votum SA Fair Value". https://www.fairvalue-calculator.com/stock/VOT
Frequently asked questions
Is Votum SA (VOT) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 134.70 PLN versus a price of 44.90 PLN, about +200% upside (undervalued).
What is the fair value of VOT?
Our model-based fair value for Votum SA is 134.70 PLN (as of Sep 24, 2026), built from audited fundamentals. The current price: 44.90 PLN.
What is the quality score of VOT?
Votum SA has a Quality Score of 79/100. 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 Votum SA (VOT)?
Our model-based price target is the fair value of 134.70 PLN (as of Sep 24, 2026) from 26 valuation models. Cautious scenario 79.63 PLN, optimistic scenario 175.95 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Votum SA stock forecast for 2026?
Our models put fair value at 134.70 PLN, about +200% upside versus a price of 44.90 PLN (undervalued). Cautious scenario 79.63 PLN, optimistic scenario 175.95 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Votum SA (VOT)?
Votum SA reported trailing-twelve-month revenue of about 445M PLN (latest available figure, as of Sep 24, 2026).
What growth is priced into Votum SA (VOT)?
For today's price to be fair in a discounted-cash-flow model, Votum SA would have to grow free cash flow by -29.1 % per year for five years (discount rate 12.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +25.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of VOT use?
Our models discount Votum SA at 12.3 %: a base by market capitalisation (micro), damped by beta 0.62, 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 Votum SA that is -29.1 % per year a year over ten years, using the same discount rate (12.3 %) and the same formula as our fair value.
How much growth has Votum SA (VOT) delivered so far?
Over the past 5 years revenue at Votum SA grew +25.2 % a year. The price currently implies -29.1 % 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 Votum SA (VOT) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Votum SA (-29.1 % 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 Votum SA (VOT)?
The free-cash-flow yield on the price is 35.72 %: that much free cash flow Votum SA produces per unit of market value. When it exceeds the discount rate of our models (12.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Votum SA (VOT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Votum SA it is 134.70 PLN per share (as of Sep 24, 2026), against a price of 44.90 PLN. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Votum SA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, VOT trades below its calculated fair value: price 44.90 PLN, fair value 134.70 PLN, a gap of about +200% (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 VOT?
No. The price is what the market pays today (44.90 PLN); the fair value is what the company's own numbers justify (134.70 PLN). For Votum SA the two are 89.80 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Votum SA worth?
The market values Votum SA at about 539M PLN (market capitalisation, as of Sep 24, 2026). Per share that is 44.90 PLN; our models calculate a fair value of 134.70 PLN per share.
What do the bullish and bearish scenarios say about VOT?
Our models span a range for Votum SA: cautious scenario 79.63 PLN, base 134.70 PLN, optimistic 175.95 PLN per share (as of Sep 24, 2026, price 44.90 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VOT?
Votum SA trades at a price-to-earnings ratio of 4.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 134.70 PLN is built from several models across several years. Other multiples: P/B 0.4, P/S 0.3.
How solid is the balance sheet of Votum SA (VOT)?
Balance-sheet figures for Votum SA (as of Sep 24, 2026): return on equity 32.2%, debt of 0.01 per unit of equity. They feed the Quality Score of 79/100, which measures business quality independently of the share price.
How far is VOT from its 52-week high?
Votum SA trades at 44.90 PLN, about 7% below its 52-week high of 48.30 PLN and 26% above the low of 35.66 PLN (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of 134.70 PLN is for.
Which stocks are comparable to Votum SA?
From the same area (Industrials) we also value Cintas Corporation, Thomson Reuters Corporation, Copart, Inc, Global Payments Inc, 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 Votum SA stock attractive at the current price?
The data as of Sep 24, 2026: price 44.90 PLN, calculated fair value 134.70 PLN (+200%), Quality Score 79/100, 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 VOT calculated?
We run Votum 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 134.70 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. Votum SA currently trades 200 % 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 Votum SA (VOT)?
The closing price on Sep 24, 2026 was 44.90 PLN. Our model-based fair value is 134.70 PLN, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Votum SA right now?
The rarer combination: high quality (79/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (79.63 PLN). The market is more pessimistic than our downside scenario. 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 (79.63 PLN to 175.95 PLN) leaves room in how you read the outcome.
Where does the earnings growth of Votum SA (VOT) come from?
Earnings per share at Votum SA grew +29.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share +18.9 %, EBIT margin +8.8 %, tax rate +0.1 %, residual (interest, one-offs) +0.3 %. 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 Votum SA
How large is the market capitalisation of Votum SA (VOT)?
The market capitalisation of Votum SA is 539M PLN (≈ $140M). 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 Votum SA (VOT)?
The price-to-sales ratio of Votum SA is 1.29 (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 Votum SA (VOT)?
Earnings per share at Votum SA are 10.55 PLN (price ÷ EPS = P/E 4.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Votum SA (VOT)?
The net margin of Votum SA is 30.3% (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 Votum SA (VOT)?
The return on equity (ROE) of Votum SA is 32.2% (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 Votum SA (VOT)?
On an EBIT basis the return on assets of Votum SA is 28.2% (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 Votum SA (VOT)?
The operating margin of Votum SA is 32.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Votum SA (VOT)?
Revenue at Votum SA is growing −14.2% versus a year earlier (3y avg +15.2%). 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 Votum SA (VOT)?
Earnings per share at Votum SA are growing −36.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Votum SA (VOT) hold?
Votum SA holds more cash than debt, 126M PLN net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Votum SA in the live analysis
One click puts Votum SA on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
