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Zaklad Budowy Maszyn ZREMB - Chojnice S.A (ZRE) Fair Value & Analysis

Basic Materials · PL · Market cap 129M PLN

ZB Zaklad Budowy Maszyn ZREMB - Chojnice S.A ZRE · WAR
Price9.02 PLN
Fair Value0.9700 PLN
Upside-89.3%
Quality46/100
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Mixed Growth
Highly profitable · 21.8% net margin
Low debt · negative free cash flow
Mixed vs. peers (5/12)
Moderate moat 49/100
Evidence: High Range 0.7300 PLN – 1.21 PLN Share as image

Fair value as of: Jul 13, 2026

From 15 valuation models · updated 28 days ago

Fair value updated Jul 13, 2026, revised from 4.19 PLN to 0.9700 PLN (−76.8%) since Jun 24, 2026. Share price −1.1% over the past month.

Below-average quality, and screening another 89% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (1.21 PLN). The favourable scenario is already priced in.
  • Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

11.48 PLN 0.9440 PLN Fair Value 0.9700 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 0.9440 PLN – 11.48 PLN · fair‑value band 0.7300 PLN – 1.21 PLN · the 9.02 PLN price screens above the 0.9700 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 13, 2026.

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Analysis

Zaklad Budowy Maszyn ZREMB - Chojnice S.A (ZRE) currently trades at 9.02 PLN, while our model-based Fair Value estimate is 0.9700 PLN, implying the stock looks roughly 89.3% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Basic Materials 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, Zaklad Budowy Maszyn ZREMB - Chojnice S.A generated revenue of 41.0M PLN at a net margin of 21.8%. Revenue grew 9.3% year over year. It earns a return on equity of 23.7%. Net debt stands at 4.5M PLN. Fundamentals as of Jul 13, 2026

Our scenario range runs from 0.7300 PLN (bear case) to 1.21 PLN (bull case); at 9.02 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 23% below its 52-week high and 44% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -7% fair-value upside, at -89%, ZRE 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 4.06 PLN 6.43 PLN 56.70 PLN 76
ROIC Compounder 1.10 PLN 1.23 PLN 1.33 PLN 72
Gordon GGM 0.0800 PLN 0.0900 PLN 0.1000 PLN 70
All 15 models by family
DCF Models
Owner Earnings 2.15 PLN 2.63 PLN 3.48 PLN 31
Earnings-Based
Graham-Dodd 4.80 PLN 7.92 PLN 9.60 PLN 54
EPV 1.10 PLN 1.23 PLN 1.33 PLN 59
Dividend Discount
Gordon GGM 0.0800 PLN 0.0900 PLN 0.1000 PLN 70
DDM Multi-Stage 0.0800 PLN 0.1000 PLN 0.1100 PLN 61
Multiples
P/E Multiple 9.01 PLN 12.01 PLN 15.01 PLN 63
P/S Multiple 3.14 PLN 4.19 PLN 5.24 PLN 58
P/B Multiple 4.92 PLN 6.56 PLN 8.20 PLN 55
EV/EBIT 3.18 PLN 4.24 PLN 5.29 PLN 53
EV/EBITDA 3.33 PLN 4.43 PLN 5.53 PLN 54
EV/Revenue 2.76 PLN 3.94 PLN 5.11 PLN 43
Asset-Based
NCAV (Graham) 1.09 PLN 1.47 PLN 2.19 PLN 50
Economic Profit
Residual Income 4.06 PLN 6.43 PLN 56.70 PLN 76
ROIC Compounder 1.10 PLN 1.23 PLN 1.33 PLN 72
Growth Earnings
Growth-Adj P/E 6.42 PLN 9.17 PLN 11.92 PLN 68

Widest divergence: Growth Earnings (9.17 PLN) versus Dividend Discount (0.0900 PLN). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 41.0M PLN
Revenue growth (YoY) +9.3%
Net margin 21.8%
Return on equity 23.7%
Free cash flow −1.5M PLN FY2024
P/E ratio 14.4
More key figures
Operating margin -6.3%
EPS (TTM) 0.6400 PLN
EPS growth (YoY) -69.4%
Net debt 4.5M PLN FY2024

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

Quality Score breakdown

Overall quality 46/100

Of which business quality 49 · Market factors (momentum, volatility) 52

Profitability 77
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 19
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 5
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 56
Distance to the 52-week high (market factor)
Net Issuance 58
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

Zaklad Budowy Maszyn ZREMB - Chojnice S.A. produces and sells containers and steel structures in Poland and internationally.

Full company description

Zaklad Budowy Maszyn ZREMB - Chojnice S.A. produces and sells containers and steel structures in Poland and internationally. The company provides offshore containers for drilling platforms; basket containers for storage and transport of drills, heads and other elements; mudskip/wasteskip containers for transportation of sea sludge; tool containers for the storage of tools on oil rigs; and specialized containers, as well as transport services. It also offers military containers; containers for transportation of hazardous freights; offshore frames; agricultural machinery; and steel constructions, including laser cutting and machining. In addition, the company provides selg discharging containers; mobile kitchen; custom design containers; and custom design military container. Further, it is involved in the fabrication of steel structures bridges and steel structures of buildings and structures; production of central heating radiators and boilers; and manufacture of other tanks, cisterns, and metal containers, as well as repair and maintenance of finished metal products and machines, and wholesale of metals and metal ores. The company was founded in 1973 and is based in Chojnice, Poland.

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

Revenue & earnings trend

FY2020 – FY2024 · reported fiscal years

Zaklad Budowy Maszyn ZREMB - Chojnice S.A reported revenue of 39.1M PLN in FY2024 versus 24.9M PLN in FY2020, a compound +11.9%/yr. Reported net income was 9.9M PLN in FY2024, compounding +77.5%/yr from FY2020.

Growth Quality 29/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2024)
39.1M PLN
Latest YoY
+5.6%
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.
+10.9%
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.
+3.4%
Avg. growth/yr (16Y) 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.
+1.5%
Revenue +11.9%/yr
FY20 24.9M PLN
FY21 28.7M PLN
FY22 33.8M PLN
FY23 37.0M PLN
FY24 39.1M PLN
Net income +77.5%/yr
FY20 997K PLN
FY21 168K PLN
FY22 1.7M PLN
FY23 2.3M PLN
FY24 9.9M PLN
Character of growth · EPS growth decomposed (2013-2024) +5.9 % p.a.
Revenue per share −15.7 pp

of which total revenue −11.0 pp · buybacks/dilution −4.8 pp

EBIT margin +18.9 pp
Tax rate −1.8 pp
Residual (interest, one-offs) +4.5 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).

ZRE screens 89% overvalued. Compare with Tata Steel Limited →

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Cite: Fair Value Calculator (2026). "Zaklad Budowy Maszyn ZREMB - Chojnice S.A Fair Value". https://www.fairvalue-calculator.com/stock/ZRE

Peer Group

Steel · 380 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 46 · Below median
Fair Value upside −89% · Bottom 25%
Return on equity (TTM) 24% · Top 25%
Return on assets 0% · Below median
Net margin (TTM) 22% · Top 25%
Operating margin (TTM) -6% · Bottom 25%
Revenue growth 9% · Above median
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Steel median · lower = cheaper

P/E (TTM) 14.4× · Cheaper than median
P/B 1.14× · Pricier than median
P/S (TTM) 0.85× · Pricier than median
EV/EBITDA 13.2× · Pricier than median

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 19
FUTURE 47 · sector 4
PAST 95 · sector 15
HEALTH 99 · sector 95
DIVIDEND 0 · sector 41

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

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

Stock Price Fair Value vs Fair Value
Tata Steel Limited TTST $0.2010 $0.2000 -0%
JSW Steel Limited JSWSTEEL ₹1,227 ₹1,140 -7%
Baoshan Iron & Steel Co 600019 ¥5.89 ¥8.07 +37%
China Steel Corporation 2002A 38.55 TWD 8.74 TWD -77%
POSCO Holdings 005490 313,500 KRW 155,270 KRW -50%
Companhia Siderúrgica Nacional, SID 13,670 ARS 15,940 ARS +17%
Jindal Steel Limited JINDALSTEL ₹1,028 ₹545.12 -47%
Lloyds Metals and Energy Limited LLOYDSME ₹1,844 ₹1,098 -40%
Gerdau S.A GGBN 83.50 MXN 42.64 MXN -49%
Ternium S.A TXR 17,780 ARS 27,210 ARS +53%

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Frequently asked questions

Is Zaklad Budowy Maszyn ZREMB - Chojnice S.A (ZRE) overvalued or undervalued?
As of Jul 13, 2026, our model estimates a fair value of 0.9700 PLN versus a price of 9.02 PLN, about −89% (overvalued).
What is the fair value of ZRE?
Our model-based fair value for Zaklad Budowy Maszyn ZREMB - Chojnice S.A is 0.9700 PLN (as of Jul 13, 2026), built from audited fundamentals. The current price is 9.02 PLN.
What is the quality score of ZRE?
Zaklad Budowy Maszyn ZREMB - Chojnice S.A has a Quality Score of 46/100. 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 Zaklad Budowy Maszyn ZREMB - Chojnice S.A (ZRE)?
Zaklad Budowy Maszyn ZREMB - Chojnice S.A reported trailing-twelve-month revenue of about 41.0M PLN (latest available figure, as of Jul 13, 2026).
What is the net profit margin of ZRE?
The net profit margin of Zaklad Budowy Maszyn ZREMB - Chojnice S.A is about 21.8%, meaning it keeps roughly 21.8% 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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