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Wirtualna Polska Holding (WPL) Fair Value & Analysis

Communication Services · PL · Market cap 1.7B PLN

WP Wirtualna Polska Holding WPL · WAR
Price65.50 PLN
Fair Value121.39 PLN
Upside+85.3%
Quality43/100
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Mixed Growth
Loss-making · -2.6% net margin
High debt · generates free cash flow
2.28% dividend yield
Ranks above peers (8/13)
Narrow moat 26/100
Evidence: High Range 70.76 PLN – 163.36 PLN Share as image

Fair value as of: Jul 13, 2026

From 16 valuation models · updated 28 days ago

Share price +12.9% over the past month.

Below-average quality, screening 85% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (43/100). That raises the risk this is a value trap rather than a bargain.
  • The price is below even our cautious bear case (70.76 PLN). The market is more pessimistic than our downside scenario.
  • A fairly wide model range (70.76 PLN to 163.36 PLN) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

139.45 PLN 45.95 PLN Fair Value 121.39 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 13, 2026.

How to read this chart

60‑month range 45.95 PLN – 139.45 PLN · fair‑value band 70.76 PLN – 163.36 PLN · the 65.50 PLN price screens below the 121.39 PLN fair value. Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Wirtualna Polska Holding (WPL) currently trades at 65.50 PLN, while our model-based Fair Value estimate is 121.39 PLN, implying the stock looks roughly 85.3% undervalued today. The Quality Score stands at 43/100 (below-average quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Wirtualna Polska Holding generated revenue of 2.4B PLN at a net margin of -2.6%. Revenue grew 49.3% year over year. It earns a return on equity of -5.2%. Net debt stands at 1.4B PLN. Fundamentals as of Jul 13, 2026

Our scenario range runs from 70.76 PLN (bear case) to 163.36 PLN (bull case); at 65.50 PLN, the current price sits below 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 22% below its 52-week high and 42% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -1% fair-value upside, at 85%, WPL screens cheaper 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
Growth DCF 49.26 PLN 110.84 PLN 224.11 PLN 80
Rev-Margin DCF 54.57 PLN 143.90 PLN 318.07 PLN 74
ROIC Compounder 15.91 PLN 24.09 PLN 33.13 PLN 72
All 16 models by family
DCF Models
FCF DCF 55.56 PLN 101.38 PLN 238.30 PLN 38
Owner Earnings 11.10 PLN 31
5Y Revenue Exit 50.71 PLN 120.33 PLN 266.07 PLN 39
5Y EBITDA Exit 107.85 PLN 235.73 PLN 486.84 PLN 41
10Y Revenue Exit 49.61 PLN 159.70 PLN 229.49 PLN 36
10Y EBITDA Exit 90.94 PLN 271.91 PLN 592.48 PLN 37
Earnings-Based
EPV 15.91 PLN 24.09 PLN 30.90 PLN 59
Dividend Discount
Gordon GGM 17.09 PLN 30.80 PLN 42.40 PLN 70
DDM Multi-Stage 17.09 PLN 28.14 PLN 32.90 PLN 61
Multiples
EV/EBIT 81.83 PLN 123.80 PLN 165.77 PLN 53
EV/EBITDA 129.61 PLN 187.51 PLN 245.40 PLN 54
EV/Revenue 40.80 PLN 77.17 PLN 113.54 PLN 43
Asset-Based
NCAV (Graham) 14.65 PLN 19.63 PLN 29.30 PLN 50
Growth DCF
Growth DCF 49.26 PLN 110.84 PLN 224.11 PLN 80
Rev-Margin DCF 54.57 PLN 143.90 PLN 318.07 PLN 74
Economic Profit
ROIC Compounder 15.91 PLN 24.09 PLN 33.13 PLN 72

Widest divergence: DCF Models (159.70 PLN) versus Asset-Based (19.63 PLN). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 2.4B PLN
Revenue growth (YoY) +49.3%
Net margin -2.6%
Return on equity -5.2%
Free cash flow 218M PLN FY2025
Operating margin 4.6%
More key figures
EPS (TTM) -2.11 PLN
Dividend yield 2.3%
EPS growth (YoY) +24.9%
Net debt 1.4B PLN FY2025

Figures from reported company fundamentals · as of Jul 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 43/100

Of which business quality 43 · Market factors (momentum, volatility) 53

Profitability 32
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 49
Earnings quality: real cash, not paper profit
Fin. Strength 21
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 44
Price trend over the last 3–12 months (market factor)
52W Momentum 42
Distance to the 52-week high (market factor)
Net Issuance 77
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

Wirtualna Polska Holding S.A., through its subsidiaries, engages in the media, advertising, and e-commerce businesses in Poland. The company operates tourism portals, comprising Wakacje.pl, nocowanie.pl, WAKACYJNY SWIAT, eazygo, PARKLOT.PL, and SZALLAS Group.

Full company description

Wirtualna Polska Holding S.A., through its subsidiaries, engages in the media, advertising, and e-commerce businesses in Poland. The company operates tourism portals, comprising Wakacje.pl, nocowanie.pl, WAKACYJNY SWIAT, eazygo, PARKLOT.PL, and SZALLAS Group. It also provides financing for new cars through Totalmoney, Direct.Money.pl, Finansowy Supermarket, and Superauto.pl. In addition, the company sells home designs through the Homebook, Extradom, and Selsey platforms, as well as the Naturalnie platform. Further, it is involved in broadcasting services via the Telewizja WP and Multiplex 8 satellite platforms and offers e-mail services through WP Poczta and o2. Additionally, the company engages in online advertising. The company 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

Wirtualna Polska Holding reported revenue of 2.2B PLN in FY2025 versus 872M PLN in FY2021, a compound +26.2%/yr. Reported net income was −34.1M PLN in FY2025.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
2.2B PLN
Latest YoY
+41.1%
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.
+27.1%
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.
+28.5%
Avg. growth/yr (13Y) 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.
+36.1%
Revenue +26.2%/yr
FY21 872M PLN
FY22 1.1B PLN
FY23 1.4B PLN
FY24 1.6B PLN
FY25 2.2B PLN
Net income
FY21 183M PLN
FY22 171M PLN
FY23 156M PLN
FY24 156M PLN
FY25 −34.1M PLN
Character of growth · EPS growth decomposed (2013-2024) +47.8 % p.a.
Revenue per share +19.3 pp

of which total revenue +24.6 pp · buybacks/dilution −5.3 pp

EBIT margin +1.8 pp
Tax rate +6.1 pp
Residual (interest, one-offs) +20.6 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).

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Cite: Fair Value Calculator (2026). "Wirtualna Polska Holding Fair Value". https://www.fairvalue-calculator.com/stock/WPL

Peer Group

Advertising Agencies · 199 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 43 · Below median
Fair Value upside +85% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) -3% · Below median
Operating margin (TTM) 5% · Above median
Revenue growth 49% · Top 25%
Dividend yield (TTM) 2.3% · Below median
Debt / equity 1.96× · Higher than 75% of peers

Valuation Multiples vs Advertising Agencies median · lower = cheaper

P/B 0.53× · Cheaper than median
P/S (TTM) 0.19× · Cheaper than 75% of peers
P/FCF 2.1× · Cheaper than median
EV/EBITDA 3.7× · 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 100 · sector 19
FUTURE 100 · sector 8
PAST 0 · sector 7
HEALTH 2 · sector 98
DIVIDEND 46 · sector 66

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 Advertising Agencies stocks, each showing price versus our Fair Value estimate (as of Jul 13, 2026).

Stock Price Fair Value vs Fair Value
AppLovin Corporation APP $506.98 $181.37 -64%
Publicis Groupe S.A PUB €87.16 €146.36 +68%
Omnicom Group OMC $80.75 $99.84 +24%
Focus Media Information Technology Co 002027 ¥5.00 ¥4.08 -18%
The Trade Desk, Inc TTD $19.37 $20.76 +7%
BlueFocus Intelligent Communications Group 300058 ¥13.81 ¥1.50 -89%
JCDecaux SE DEC €21.28 €20.99 -1%
WPP plc WPP $18.13 $18.56 +2%
Easy Click Worldwide Network Technology Co 301171 ¥28.85 ¥5.62 -81%
Mobvista Inc 1860 HK$11.15 HK$6.43 -42%

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Frequently asked questions

Is Wirtualna Polska Holding (WPL) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 121.39 PLN versus a price of 65.50 PLN, about +85% (undervalued).
What is the fair value of WPL?
Our model-based fair value for Wirtualna Polska Holding is 121.39 PLN (as of Jul 13, 2026), built from audited fundamentals. The current price is 65.50 PLN.
What is the quality score of WPL?
Wirtualna Polska Holding has a Quality Score of 43/100. 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 Wirtualna Polska Holding (WPL)?
Wirtualna Polska Holding reported trailing-twelve-month revenue of about 2.4B PLN (latest available figure, as of Jul 13, 2026).
What is the net profit margin of WPL?
The net profit margin of Wirtualna Polska Holding is about -2.6%, meaning it is currently running at a net loss. 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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