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Wawel S.A (WWL) Fair Value & Analysis

Consumer Defensive · PL · Market cap 922M PLN

WS Wawel S.A WWL · WAR
Price708.00 PLN
Fair Value822.86 PLN
Upside+16.2%
Quality63/100
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Expensive Growth
Solidly profitable · 12.5% net margin
generates free cash flow
4.93% dividend yield
Ranks above peers (11/13)
Moderate moat 56/100
Evidence: High Range 541.63 PLN – 1,235 PLN Share as image

Fair value as of: Jul 16, 2026

From 24 valuation models · updated 25 days ago

Share price −0.3% over the past month.

A solid business, screening 16% undervalued on our models.

What matters now

  • A fairly wide model range (541.63 PLN to 1,235 PLN) leaves room in how you read the outcome.
  • Our model range runs from 541.63 PLN (bear) to 1,235 PLN (bull), base 822.86 PLN. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 63/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

841.21 PLN 360.68 PLN Fair Value 822.86 PLN Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 360.68 PLN – 841.21 PLN · fair‑value band 541.63 PLN – 1,235 PLN · the 708.00 PLN price screens below the 822.86 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Wawel S.A (WWL) currently trades at 708.00 PLN, while our model-based Fair Value estimate is 822.86 PLN, implying the stock looks roughly 16.2% undervalued today. The Quality Score stands at 63/100 (solid quality), in the Consumer Defensive 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, Wawel S.A generated revenue of 719M PLN at a net margin of 12.5%. Revenue declined 11.2% year over year. It earns a return on equity of 11.5%. The balance sheet holds a net cash position of 126M PLN. Fundamentals as of Jul 16, 2026

Our scenario range runs from 541.63 PLN (bear case) to 1,235 PLN (bull case); at 708.00 PLN, the current price sits within 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 16% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -45% fair-value upside, at 16%, WWL 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
Residual Income 519.10 PLN 569.33 PLN 744.30 PLN 76
Growth DCF 250.09 PLN 301.40 PLN 363.77 PLN 72
Growth-Adj P/E 815.65 PLN 1,165 PLN 1,515 PLN 68
All 24 models by family
DCF Models
FCF DCF 248.35 PLN 306.10 PLN 380.22 PLN 38
Owner Earnings 526.83 PLN 694.41 PLN 909.48 PLN 31
5Y Revenue Exit 496.29 PLN 776.92 PLN 1,134 PLN 39
5Y EBITDA Exit 631.90 PLN 1,024 PLN 1,476 PLN 41
5Y P/E Exit 697.77 PLN 1,144 PLN 1,603 PLN 38
10Y Revenue Exit 374.95 PLN 590.64 PLN 876.09 PLN 36
10Y EBITDA Exit 468.04 PLN 745.03 PLN 1,108 PLN 37
10Y P/E Exit 506.03 PLN 820.02 PLN 1,195 PLN 35
Earnings-Based
Graham-Dodd 445.42 PLN 1,210 PLN 1,587 PLN 54
Lynch FV 238.43 PLN 340.61 PLN 442.80 PLN 50
PEG = 1.0 238.43 PLN 340.61 PLN 442.80 PLN 46
EPV 544.27 PLN 604.59 PLN 654.86 PLN 59
Multiples
P/E Multiple 1,032 PLN 1,376 PLN 1,719 PLN 63
P/S Multiple 686.87 PLN 915.82 PLN 1,145 PLN 58
P/B Multiple 835.16 PLN 1,114 PLN 1,392 PLN 55
EV/EBIT 1,016 PLN 1,321 PLN 1,626 PLN 53
EV/EBITDA 1,007 PLN 1,308 PLN 1,610 PLN 54
EV/Revenue 702.90 PLN 960.47 PLN 1,218 PLN 43
Asset-Based
NCAV (Graham) 309.34 PLN 414.52 PLN 618.69 PLN 50
Growth DCF
Growth DCF 250.09 PLN 301.40 PLN 363.77 PLN 72
Rev-Margin DCF 496.29 PLN 772.57 PLN 1,076 PLN 67
Economic Profit
Residual Income 519.10 PLN 569.33 PLN 744.30 PLN 76
ROIC Compounder 544.27 PLN 604.59 PLN 678.30 PLN 67
Growth Earnings
Growth-Adj P/E 815.65 PLN 1,165 PLN 1,515 PLN 68

Widest divergence: Growth Earnings (1,165 PLN) versus Growth DCF (301.40 PLN). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 719M PLN
Revenue growth (YoY) -11.2%
Net margin 12.5%
Return on equity 11.5%
Free cash flow 20.8M PLN FY2025
P/E ratio 10.3
More key figures
Operating margin 15.6%
EPS (TTM) 69.37 PLN
Dividend yield 4.9%
EPS growth (YoY) +28.2%
Net cash 126M PLN FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 61 · Market factors (momentum, volatility) 56

Profitability 53
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 92
Calm price path (market factor)
Momentum 38
Price trend over the last 3–12 months (market factor)
52W Momentum 46
Distance to the 52-week high (market factor)
Net Issuance 90
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

Wawel S.A. produces and sells cocoa, chocolate, and confectionary products in Poland. It offers various chocolate bars, chocolate pastilles, chocolate souffles, chocolate coated candies, chocolate pralines, no added sugar, cocoa powder, fresh and fruity, travel gummies, cream fudge/krówka, baked goods, tofflairs, filled hard caramels, chocolate jellies, and …

Full company description

Wawel S.A. produces and sells cocoa, chocolate, and confectionary products in Poland. It offers various chocolate bars, chocolate pastilles, chocolate souffles, chocolate coated candies, chocolate pralines, no added sugar, cocoa powder, fresh and fruity, travel gummies, cream fudge/krówka, baked goods, tofflairs, filled hard caramels, chocolate jellies, and fruits in chocolate as well as other candies. The company sells its products through its outlets and online shop. It also exports its products. Wawel S.A. was founded in 1898 and is headquartered in Kraków, Poland. Wawel S.A. is a subsidiary of Hosta International AG.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Wawel S.A reported revenue of 739M PLN in FY2025 versus 518M PLN in FY2021, a compound +9.3%/yr. Reported net income was 84.6M PLN in FY2025, compounding +18.3%/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)
739M PLN
Latest YoY
+7.3%
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.
+8.1%
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.
+8.6%
Avg. growth/yr (20Y) 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.
+6.3%
Revenue +9.3%/yr
FY21 518M PLN
FY22 585M PLN
FY23 663M PLN
FY24 689M PLN
FY25 739M PLN
Net income +18.3%/yr
FY21 43.2M PLN
FY22 37.0M PLN
FY23 72.1M PLN
FY24 73.7M PLN
FY25 84.6M PLN
Character of growth · EPS growth decomposed (2014-2025) +0.1 % p.a.
Revenue per share +2.9 pp

of which total revenue +1.2 pp · buybacks/dilution +1.7 pp

EBIT margin −3.6 pp
Tax rate −0.1 pp
Residual (interest, one-offs) +0.8 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). "Wawel S.A Fair Value". https://www.fairvalue-calculator.com/stock/WWL

Peer Group

Confectioners · 75 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 63 · Top 25%
Fair Value upside +16% · Above median
Return on equity (TTM) 11% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 16% · Top 25%
Revenue growth -11% · Below median
Dividend yield (TTM) 4.9% · Top 25%

Valuation Multiples vs Confectioners median · lower = cheaper

P/E (TTM) 10.3× · Cheaper than median
P/B 0.31× · Cheaper than 75% of peers
P/S (TTM) 0.35× · Cheaper than median
P/FCF 11.9× · Pricier than 75% of peers
EV/EBITDA 0.9× · 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 55 · sector 26
FUTURE 0 · sector 0
PAST 46 · sector 26
HEALTH 0 · sector 91
DIVIDEND 99 · sector 57

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 Confectioners stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Chocoladefabriken Lindt & Sprüngli AG LISN CHF 96,500 CHF 9,874 -90%
Mondelez International, Inc MDLZ $61.00 $27.68 -55%
The Hershey Company HSY $170.27 $91.25 -46%
Barry Callebaut AG BARN CHF 1,100 CHF 711.91 -35%
ORION Corp 271560 127,100 KRW 203,315 KRW +60%
Tootsie Roll Industries, Inc TROLB $39.50 $21.81 -45%
Guangxi Yuegui Guangye Holdings 000833 ¥18.81 ¥9.83 -48%
Cloetta AB CLAB kr 48.88 kr 59.12 +21%
Balrampur Chini Mills Limited BALRAMCHIN ₹586.20 ₹304.54 -48%
PT Yupi Indo Jelly Gum Tbk YUPI 1,320 IDR 1,286 IDR -3%

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Frequently asked questions

Is Wawel S.A (WWL) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 822.86 PLN versus a price of 708.00 PLN, about +16% (undervalued).
What is the fair value of WWL?
Our model-based fair value for Wawel S.A is 822.86 PLN (as of Jul 16, 2026), built from audited fundamentals. The current price is 708.00 PLN.
What is the quality score of WWL?
Wawel S.A has a Quality Score of 63/100. 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 Wawel S.A (WWL)?
Wawel S.A reported trailing-twelve-month revenue of about 719M PLN (latest available figure, as of Jul 16, 2026).
What is the net profit margin of WWL?
The net profit margin of Wawel S.A is about 12.5%, meaning it keeps roughly 12.5% of revenue as net income. Based on the latest reported figures.
Does Wawel S.A pay a dividend?
Wawel S.A currently shows a dividend yield of about 4.67% relative to its recent price (as of Jul 16, 2026).

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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