Vercom SA (VRC) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Vercom SA PLN 144, price PLN 131, upside +9.8%, quality 80 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 28.77 PLN – 150.31 PLN · fair‑value band 82.53 PLN – 226.31 PLN · the 130.80 PLN price screens below the 143.66 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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Vercom S.A. develops cloud communications platforms. The company's platforms enable companies to build and develop relationships with recipients through various channels, such as email, SMS, push, and instant messages. The company was founded in 2005 and is based in Poznan, Poland. Vercom S.A. is a subsidiary of Cyber_Folks S.A.
Stock analysis
Vercom SA (VRC) currently trades at 130.80 PLN, while our model-based Fair Value estimate is 143.66 PLN, implying the stock looks roughly 9.0% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 166.08 PLN per share, and 9 of the 26 models we run sit above the 130.80 PLN price.
Bear case: the Dividend Discount group reads lowest at 30.91 PLN, and 17 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: 82.53 PLN (bear) to 226.31 PLN (bull), the price of 130.80 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 80/100 (high quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Vercom SA reported revenue of 471M PLN in FY2025 versus 179M PLN in FY2021, a compound +27.4%/yr. Reported net income was 89.9M PLN in FY2025, compounding +41.0%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap 2.9B PLN (≈ $747M) · P/E ratio 31.6 · P/S ratio 6.03 · EPS (TTM) 4.14 PLN · Dividend yield 2.1% · Net margin 19.1% · Return on equity 21.4% · Return on assets (EBIT) 12.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 23% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −13% fair-value upside, at 10%, VRC screens cheaper than that median.
Fair Value models
Bear 82.53 PLNFair Value 143.66 PLNBull 226.31 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 (1.03 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.94/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−5.1%
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.
+21.9%
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.
+26.8%
Start year 2020 (pandemic)
Revenue growth 7 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.
+34.7%
’18
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’21
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’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.
+33.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+31.0%
Dividend (yield on the price)2.1%
Profit margin 2019 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.21% → 24%
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
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).
+14.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+11.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (Poland: IMF forecast 3.1% a year to 2030, 4.6% from 2016 to 2025) that is about +11.1% a year for the price and +7.7% for the forecasts.
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.Software - Application · 702 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score80 · Top 25%
Fair Value upside+10% · Above median
Profitability
Return on equity (TTM)21% · Top 25%
Return on assets12% · Top 25%
Net margin (TTM)19% · Top 25%
Operating margin (TTM)24% · Top 25%
Growth and dividend
Revenue growth11% · Above median
Dividend yield (TTM)2.1% · Above median
Balance sheet
Debt / equity0.14× · Above median
Valuation Multiplesvs Software - Application median · lower = cheaper
P/E (TTM)31.6× · Pricier than median
P/B1.88× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
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). "Vercom SA Fair Value". https://www.fairvalue-calculator.com/stock/VRC
Frequently asked questions
Is Vercom SA (VRC) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of 143.66 PLN versus a price of 130.80 PLN, about +10% upside (fairly valued).
What is the fair value of VRC?
Our model-based fair value for Vercom SA is 143.66 PLN (as of Sep 23, 2026), built from audited fundamentals. The current price: 130.80 PLN.
What is the quality score of VRC?
Vercom SA has a Quality Score of 80/100. 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 Vercom SA (VRC)?
Our model-based price target is the fair value of 143.66 PLN (as of Sep 23, 2026) from 26 valuation models. Cautious scenario 82.53 PLN, optimistic scenario 226.31 PLN. It is a calculation from audited fundamentals, not an analyst target.
What is the Vercom SA stock forecast for 2026?
Our models put fair value at 143.66 PLN, about +10% upside versus a price of 130.80 PLN (fairly valued). Cautious scenario 82.53 PLN, optimistic scenario 226.31 PLN. The calculation is refreshed regularly with new filings.
What is the revenue of Vercom SA (VRC)?
Vercom SA reported trailing-twelve-month revenue of about 483M PLN (latest available figure, as of Sep 23, 2026).
Does Vercom SA pay a dividend?
Vercom SA currently shows a dividend yield of about 2.09% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Vercom SA (VRC)?
For today's price to be fair in a discounted-cash-flow model, Vercom SA would have to grow free cash flow by +14.6 % per year for five years (discount rate 9.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +26.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of VRC use?
Our models discount Vercom SA at 9.3 %: a base by market capitalisation (mid), damped by beta 0.33, 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 Vercom SA that is +14.6 % per year a year over ten years, using the same discount rate (9.3 %) and the same formula as our fair value.
How much growth has Vercom SA (VRC) delivered so far?
Over the past 5 years revenue at Vercom SA grew +26.8 % a year. The price currently implies +14.6 % 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 Vercom SA (VRC) growing?
The median revenue growth in the sector is +8.4 % a year. That is the yardstick for the growth priced into Vercom SA (+14.6 % 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 Vercom SA (VRC)?
The free-cash-flow yield on the price is 3.53 %: that much free cash flow Vercom SA produces per unit of market value. When it exceeds the discount rate of our models (9.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Vercom SA (VRC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vercom SA it is 143.66 PLN per share (as of Sep 23, 2026), against a price of 130.80 PLN. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Vercom SA stock overvalued or undervalued in 2026?
As of Sep 23, 2026, VRC trades below its calculated fair value: price 130.80 PLN, fair value 143.66 PLN, a gap of about +10% (fairly valued). 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 VRC?
No. The price is what the market pays today (130.80 PLN); the fair value is what the company's own numbers justify (143.66 PLN). For Vercom SA the two are 12.86 PLN per share apart. That gap is exactly why we show both numbers side by side.
How much is Vercom SA worth?
The market values Vercom SA at about 2.9B PLN (market capitalisation, as of Sep 23, 2026). Per share that is 130.80 PLN; our models calculate a fair value of 143.66 PLN per share.
What do the bullish and bearish scenarios say about VRC?
Our models span a range for Vercom SA: cautious scenario 82.53 PLN, base 143.66 PLN, optimistic 226.31 PLN per share (as of Sep 23, 2026, price 130.80 PLN). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of VRC?
Vercom SA trades at a price-to-earnings ratio of 31.6 (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 143.66 PLN is built from several models across several years. Other multiples: P/B 1.9, P/S 1.6, EV/EBITDA 5.6.
How solid is the balance sheet of Vercom SA (VRC)?
Balance-sheet figures for Vercom SA (as of Sep 23, 2026): return on equity 21.4%, debt of 0.14 per unit of equity. They feed the Quality Score of 80/100, which measures business quality independently of the share price.
How far is VRC from its 52-week high?
Vercom SA trades at 130.80 PLN, about 13% below its 52-week high of 150.31 PLN and 23% above the low of 106.72 PLN (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 143.66 PLN is for.
Which stocks are comparable to Vercom SA?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, 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 Vercom SA stock attractive at the current price?
The data as of Sep 23, 2026: price 130.80 PLN, calculated fair value 143.66 PLN (+10%), Quality Score 80/100, 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 VRC calculated?
We run Vercom 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 143.66 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 14.1 % above its aggregate fair value. Vercom 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 Vercom SA (VRC)?
The closing price on Sep 23, 2026 was 130.80 PLN. Our model-based fair value is 143.66 PLN, about +10% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vercom SA right now?
The model range is unusually wide (82.53 PLN to 226.31 PLN). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Key figures of Vercom SA
How large is the market capitalisation of Vercom SA (VRC)?
The market capitalisation of Vercom SA is 2.9B PLN (≈ $747M). 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 Vercom SA (VRC)?
The price-to-sales ratio of Vercom SA is 6.03 (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 Vercom SA (VRC)?
Earnings per share at Vercom SA are 4.14 PLN (price ÷ EPS = P/E 31.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Vercom SA (VRC)?
The dividend yield of Vercom SA is 2.1% (payout 65.9%). 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 Vercom SA (VRC)?
The net margin of Vercom SA is 19.1% (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 Vercom SA (VRC)?
The return on equity (ROE) of Vercom SA is 21.4% (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 Vercom SA (VRC)?
On an EBIT basis the return on assets of Vercom SA is 12.6% (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 Vercom SA (VRC)?
The operating margin of Vercom SA is 24.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Vercom SA (VRC)?
Revenue at Vercom SA is growing +11.0% versus a year earlier (3y avg +21.9%). 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 Vercom SA (VRC)?
Earnings per share at Vercom SA are growing +7.9% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Vercom SA (VRC) hold?
Vercom SA holds more cash than debt, 10.5M PLN net (fiscal year 2024). The company holds more cash than debt, a safety cushion.
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