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Zaklady Urzadzen Kotlowych Staporków S.A (ZUK) Fair Value & Analysis

Industrials · PL · Market cap 27.8M PLN

ZU Zaklady Urzadzen Kotlowych Staporków S.A ZUK · WAR
Price4.60 PLN
Fair Value1.65 PLN
Upside-64.1%
Quality71/100
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Weak Growth
Thin margins · 5.4% net margin
Low debt · generates free cash flow
Ranks above peers (10/13)
Narrow moat 41/100
Evidence: High Range 1.19 PLN – 2.41 PLN Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from 6.82 PLN to 1.65 PLN (−75.8%) since Jun 24, 2026. Share price +1.8% over the past month.

A solid business, but screening 64% overvalued on our models.

What matters now

  • A high-quality business (quality 71/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case (2.41 PLN). The favourable scenario is already priced in.
  • A fairly wide model range (1.19 PLN to 2.41 PLN) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

5.79 PLN 2.00 PLN Fair Value 1.65 PLN Sep 2020 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range 2.00 PLN – 5.79 PLN · fair‑value band 1.19 PLN – 2.41 PLN · the 4.60 PLN price screens above the 1.65 PLN fair value. Dashed = 300-day average. As of Jul 18, 2026.

Full chart & analysis →

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Analysis

Zaklady Urzadzen Kotlowych Staporków S.A (ZUK) currently trades at 4.60 PLN, while our model-based Fair Value estimate is 1.65 PLN, implying the stock looks roughly 64.1% overvalued today. The Quality Score stands at 71/100 (solid quality), in the Industrials 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, Zaklady Urzadzen Kotlowych Staporków S.A generated revenue of 50.7M PLN at a net margin of 6.2%. Revenue grew 14.3% year over year. It earns a return on equity of 16.4%. Net debt stands at 1.5M PLN. Fundamentals as of Jul 18, 2026

Our scenario range runs from 1.19 PLN (bear case) to 2.41 PLN (bull case); at 4.60 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 15% below its 52-week high and 59% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -48% fair-value upside, at -64%, ZUK 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
Growth DCF 2.54 PLN 3.11 PLN 3.85 PLN 80
Residual Income 2.99 PLN 3.37 PLN 4.93 PLN 76
Rev-Margin DCF 3.93 PLN 6.03 PLN 8.39 PLN 74
All 24 models by family
DCF Models
FCF DCF 2.49 PLN 3.11 PLN 3.96 PLN 38
Owner Earnings 2.29 PLN 2.85 PLN 3.62 PLN 31
5Y Revenue Exit 3.93 PLN 5.99 PLN 8.74 PLN 39
5Y EBITDA Exit 4.99 PLN 7.83 PLN 11.24 PLN 41
5Y P/E Exit 4.57 PLN 7.10 PLN 9.81 PLN 38
10Y Revenue Exit 3.12 PLN 4.64 PLN 6.43 PLN 36
10Y EBITDA Exit 3.79 PLN 5.68 PLN 7.90 PLN 37
10Y P/E Exit 3.57 PLN 5.26 PLN 7.06 PLN 35
Earnings-Based
Graham-Dodd 3.14 PLN 6.00 PLN 7.48 PLN 54
EPV 3.63 PLN 4.06 PLN 4.41 PLN 59
Dividend Discount
Gordon GGM 1.47 PLN 1.86 PLN 2.19 PLN 70
DDM Multi-Stage 1.47 PLN 1.87 PLN 2.26 PLN 61
Multiples
P/E Multiple 7.28 PLN 9.71 PLN 12.14 PLN 63
P/S Multiple 5.90 PLN 7.86 PLN 9.83 PLN 58
P/B Multiple 5.90 PLN 7.86 PLN 9.83 PLN 55
EV/EBIT 7.77 PLN 10.34 PLN 12.92 PLN 53
EV/EBITDA 8.23 PLN 10.96 PLN 13.69 PLN 54
EV/Revenue 5.55 PLN 7.92 PLN 10.28 PLN 43
Asset-Based
NCAV (Graham) 1.73 PLN 2.32 PLN 3.46 PLN 50
Growth DCF
Growth DCF 2.54 PLN 3.11 PLN 3.85 PLN 80
Rev-Margin DCF 3.93 PLN 6.03 PLN 8.39 PLN 74
Economic Profit
Residual Income 2.99 PLN 3.37 PLN 4.93 PLN 76
ROIC Compounder 3.64 PLN 4.14 PLN 4.60 PLN 72
Growth Earnings
Growth-Adj P/E 5.22 PLN 7.45 PLN 9.69 PLN 68

Widest divergence: Multiples (7.92 PLN) versus Dividend Discount (1.86 PLN). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 52.6M PLN
Revenue growth (YoY) +17.0%
Net margin 5.4%
Return on equity 14.3%
Free cash flow 2.0M PLN FY2025
P/E ratio 13.2
More key figures
Operating margin -1.0%
EPS (TTM) 0.3400 PLN
EPS growth (YoY) -53.4%
Net debt 1.5M PLN FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 71/100

Of which business quality 68 · Market factors (momentum, volatility) 63

Profitability 59
Margins and returns on capital today
Quality Growth 90
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 67
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 82
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

Zaklady Urzadzen Kotlowych Staporków S.A. manufactures industrial equipment in Poland and internationally. It operates through three segments: Steel Structures, Mass Production, and Energy.

Full company description

Zaklady Urzadzen Kotlowych Staporków S.A. manufactures industrial equipment in Poland and internationally. It operates through three segments: Steel Structures, Mass Production, and Energy. The company offers silos and non-pressurized tanks; scraper, belt, screw, tubular, roller, chain, and bucket conveyors, as well as slag removers, separators, and spare parts; mechanical grates, including step grates, high and medium boiler grates, and low boiler grates with a RN-type base; flue gas treatment systems, such as two-stage dust collectors, filter-based bicyclone separators, bag filters, flue gas desulphurization and denitrification systems, flue gas treatment system upgrades projects, and reactor housings; and reactors and chutes; channels, and formwork panels. It also provides various services comprising laser, gas, and plasma cutting, welding, technical inspections of equipment and systems, periodic technical checks of equipment and systems, installation and dismantling, and quality and technical acceptance testing, as well as design, consulting, assembly and servicing services. The company exports its products to Germany, Norway, Denmark, Austria, Belgium, Finland, and other countries. It serves mining companies, building contractors, cellulose producers, cement and lime producers, smelting plants, renewable energy source operators, infrastructure operators and producers, refineries, military/defense agencies, shipbuilders, food producers, and paper manufacturers. The company was founded in 1738 and is headquartered in Staporków, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Zaklady Urzadzen Kotlowych Staporków S.A reported revenue of 52.6M PLN in FY2025 versus 44.5M PLN in FY2021, a compound +4.3%/yr. Reported net income was 2.9M PLN in FY2025, compounding +21.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
52.6M PLN
Latest YoY
+26.6%
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.
−8.4%
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.
+1.3%
Avg. growth/yr (17Y) 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.
−1.0%
Revenue +4.3%/yr
FY21 44.5M PLN
FY22 68.5M PLN
FY23 36.8M PLN
FY24 41.5M PLN
FY25 52.6M PLN
Net income +21.5%/yr
FY21 1.3M PLN
FY22 6.3M PLN
FY23 −2.4M PLN
FY24 917K PLN
FY25 2.9M PLN

ZUK screens 64% overvalued. Compare with GE Vernova Inc →

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Cite: Fair Value Calculator (2026). "Zaklady Urzadzen Kotlowych Staporków S.A Fair Value". https://www.fairvalue-calculator.com/stock/ZUK

Peer Group

Specialty Industrial Machinery · 808 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 71 · Top 25%
Fair Value upside −64% · Bottom 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 5% · Below median
Operating margin (TTM) -1% · Bottom 25%
Revenue growth 17% · Above median

Valuation Multiples vs Specialty Industrial Machinery median · lower = cheaper

P/E (TTM) 13.2× · Cheaper than 75% of peers
P/B 1.30× · Cheaper than median
P/S (TTM) 0.53× · Cheaper than 75% of peers
P/FCF 3.7× · Cheaper than median
EV/EBITDA 5.5× · 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 0 · sector 0
FUTURE 85 · sector 23
PAST 57 · sector 28
HEALTH 100 · sector 96
DIVIDEND 0 · sector 24

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.

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10 more Specialty Industrial Machinery stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

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Zhejiang Sanhua Intelligent Controls Co 002050 ¥43.20 ¥22.68 -48%
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Frequently asked questions

Is Zaklady Urzadzen Kotlowych Staporków S.A (ZUK) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of 1.65 PLN versus a price of 4.60 PLN, about −64% (overvalued).
What is the fair value of ZUK?
Our model-based fair value for Zaklady Urzadzen Kotlowych Staporków S.A is 1.65 PLN (as of Jul 18, 2026), built from audited fundamentals. The current price is 4.60 PLN.
What is the quality score of ZUK?
Zaklady Urzadzen Kotlowych Staporków S.A has a Quality Score of 71/100. 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 Zaklady Urzadzen Kotlowych Staporków S.A (ZUK)?
Zaklady Urzadzen Kotlowych Staporków S.A reported trailing-twelve-month revenue of about 50.7M PLN (latest available figure, as of Jul 18, 2026).
What is the net profit margin of ZUK?
The net profit margin of Zaklady Urzadzen Kotlowych Staporków S.A is about 6.2%, meaning it keeps roughly 6.2% 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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