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Asseco Business Solutions S.A (ABS) Fair Value & Analysis

Technology · PL · Market cap 2.9B PLN

AB Asseco Business Solutions S.A ABS · WAR
Price89.60 PLN
Fair Value101.04 PLN
Upside+12.8%
Quality86/100
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Healthy Growth
Highly profitable · 29.6% net margin
Low debt · generates free cash flow
Ranks above peers (13/14)
Wide moat 91/100
Evidence: High Range 65.45 PLN – 126.37 PLN Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from 72.90 PLN to 101.04 PLN (+38.6%) since Jul 12, 2026. Share price +5.2% over the past month.

A strong business, screening 13% undervalued on our models.

What matters now

  • A fairly wide model range (65.45 PLN to 126.37 PLN) leaves room in how you read the outcome.
  • Our model range runs from 65.45 PLN (bear) to 126.37 PLN (bull), base 101.04 PLN. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 86/100 (high quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

91.60 PLN 23.33 PLN Fair Value 101.04 PLN May 2021 Aug 2026

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

How to read this chart

60‑month range 23.33 PLN – 91.60 PLN · fair‑value band 65.45 PLN – 126.37 PLN · the 89.60 PLN price screens below the 101.04 PLN fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Asseco Business Solutions S.A (ABS) currently trades at 89.60 PLN, while our model-based Fair Value estimate is 101.04 PLN, implying the stock looks roughly 12.8% undervalued today. The Quality Score stands at 86/100 (high quality), in the Technology 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, Asseco Business Solutions S.A generated revenue of 499M PLN at a net margin of 29.6%. Revenue grew 20.6% year over year. It earns a return on equity of 34.3%. Net debt stands at 8.6M PLN. Fundamentals as of Aug 13, 2026

Our scenario range runs from 65.45 PLN (bear case) to 126.37 PLN (bull case); at 89.60 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 2% below its 52-week high and 39% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -40% fair-value upside, at 13%, ABS 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 60.69 PLN 97.01 PLN 153.12 PLN 80
Residual Income 22.91 PLN 27.22 PLN 82.61 PLN 76
Rev-Margin DCF 47.94 PLN 75.95 PLN 110.63 PLN 74
All 26 models by family
DCF Models
FCF DCF 60.70 PLN 99.32 PLN 160.55 PLN 38
Owner Earnings 54.76 PLN 89.45 PLN 144.45 PLN 31
5Y Revenue Exit 47.94 PLN 76.05 PLN 112.74 PLN 39
5Y EBITDA Exit 67.65 PLN 115.10 PLN 172.86 PLN 41
5Y P/E Exit 73.03 PLN 125.75 PLN 184.10 PLN 38
10Y Revenue Exit 50.72 PLN 77.96 PLN 116.72 PLN 36
10Y EBITDA Exit 64.54 PLN 105.32 PLN 164.08 PLN 37
10Y P/E Exit 67.97 PLN 112.78 PLN 172.93 PLN 35
Earnings-Based
Graham-Dodd 27.54 PLN 110.47 PLN 150.20 PLN 54
Lynch FV 27.50 PLN 39.28 PLN 51.06 PLN 50
PEG = 1.0 27.50 PLN 39.28 PLN 51.06 PLN 46
EPV 38.36 PLN 44.03 PLN 48.92 PLN 59
Dividend Discount
Gordon GGM 29.15 PLN 58.08 PLN 87.95 PLN 70
DDM Multi-Stage 29.15 PLN 50.19 PLN 61.31 PLN 61
Multiples
P/E Multiple 85.04 PLN 113.38 PLN 141.73 PLN 63
P/S Multiple 51.63 PLN 68.84 PLN 86.05 PLN 58
P/B Multiple 51.63 PLN 68.84 PLN 86.05 PLN 55
EV/EBIT 81.44 PLN 107.76 PLN 134.09 PLN 53
EV/EBITDA 78.44 PLN 103.76 PLN 129.09 PLN 54
EV/Revenue 42.39 PLN 59.50 PLN 76.61 PLN 43
Asset-Based
NCAV (Graham) 6.49 PLN 8.70 PLN 12.98 PLN 50
Growth DCF
Growth DCF 60.69 PLN 97.01 PLN 153.12 PLN 80
Rev-Margin DCF 47.94 PLN 75.95 PLN 110.63 PLN 74
Economic Profit
Residual Income 22.91 PLN 27.22 PLN 82.61 PLN 76
ROIC Compounder 41.51 PLN 51.65 PLN 63.27 PLN 72
Growth Earnings
Growth-Adj P/E 57.70 PLN 82.43 PLN 107.16 PLN 68

Widest divergence: DCF Models (99.32 PLN) versus Asset-Based (8.70 PLN). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 499M PLN
Revenue growth (YoY) +20.6%
Net margin 29.6%
Return on equity 34.3%
Free cash flow 165M PLN FY2025
P/E ratio 20.1
More key figures
Operating margin 35.8%
EPS (TTM) 4.46 PLN
EPS growth (YoY) +50.7%
Net debt 8.6M PLN FY2024

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

Quality Score breakdown

Overall quality 86/100

Of which business quality 83 · Market factors (momentum, volatility) 65

Profitability 86
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 87
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 86
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 67
Distance to the 52-week high (market factor)
Net Issuance 88
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

Asseco Business Solutions S.A. designs and develops enterprise software solutions in Poland and internationally. The company offers enterprise resource planning (ERP) systems, including softlab ERP, macrologic ERP, and wapro ERP for business management of large, medium, and small enterprises, as well as business cloud solutions.

Full company description

Asseco Business Solutions S.A. designs and develops enterprise software solutions in Poland and internationally. The company offers enterprise resource planning (ERP) systems, including softlab ERP, macrologic ERP, and wapro ERP for business management of large, medium, and small enterprises, as well as business cloud solutions. It also provides mobile touch, a sales force automation solution; connector, a data integration and management platform, as well as faktor, a factoring solution; and direct portal, an online store platform. In addition, the company offers e-commerce platforms, such as e-commerce standard and e-commerce enterprise; and Faktor, a system designed to support factoring transactions of banks and financial institutions. It serves FMCG, food production, retail, wholesale, construction, automotive, furniture, electrotechnology, and steel industries, as well as HR in logistics and accounting firms. The company was founded in 2001 and is based in Lublin, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Asseco Business Solutions S.A reported revenue of 477M PLN in FY2025 versus 307M PLN in FY2021, a compound +11.6%/yr. Reported net income was 133M PLN in FY2025, compounding +13.3%/yr from FY2021.

Growth Quality 93/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
477M PLN
Latest YoY
+11.2%
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.
+12.1%
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.
+11.1%
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.
+6.3%
Revenue +11.6%/yr
FY21 307M PLN
FY22 339M PLN
FY23 381M PLN
FY24 429M PLN
FY25 477M PLN
Net income +13.3%/yr
FY21 80.6M PLN
FY22 85.3M PLN
FY23 95.0M PLN
FY24 115M PLN
FY25 133M PLN
Character of growth · EPS growth decomposed (2013-2024) +14.3 % p.a.
Revenue per share +11.2 pp

of which total revenue +11.2 pp · buybacks/dilution +0.0 pp

EBIT margin +2.1 pp
Tax rate +1.1 pp
Residual (interest, one-offs) −0.1 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). "Asseco Business Solutions S.A Fair Value". https://www.fairvalue-calculator.com/stock/ABS

Peer Group

Software - Application · 712 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 86 · Top 25%
Fair Value upside +13% · Above median
Return on equity (TTM) 34% · Top 25%
Return on assets 18% · Top 25%
Net margin (TTM) 30% · Top 25%
Operating margin (TTM) 36% · Top 25%
Revenue growth 21% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 20.1× · Cheaper than median
P/B 1.81× · Cheaper than median
P/S (TTM) 1.55× · Cheaper than median
P/FCF 4.7× · Cheaper than median
EV/EBITDA 4.0× · 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 50 · sector 4
FUTURE 100 · sector 38
PAST 100 · sector 13
HEALTH 100 · sector 98
DIVIDEND 0 · sector 27

Insider activity: 45/100

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 Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.46 C$16.26 +30%
Shopify Inc SHOP C$209.78 C$28.76 -86%
Uber Technologies, Inc UBER $75.36 $43.66 -42%
Salesforce, Inc CRM $193.32 $249.28 +29%
ServiceNow, Inc NOW $124.94 $43.73 -65%
Cadence Design Systems, Inc CDNS $323.13 $112.57 -65%
Beijing Kingsoft Office Software, Inc 688111 ¥254.50 ¥81.23 -68%
Tata Elxsi Limited TATAELXSI ₹3,712 ₹2,519 -32%
Douzone Bizon Co 012510 120,000 KRW 92,181 KRW -23%
KFin Technologies Limited KFINTECH ₹922.00 ₹556.85 -40%

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Frequently asked questions

Is Asseco Business Solutions S.A (ABS) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 101.04 PLN versus a price of 89.60 PLN, about +13% (undervalued).
What is the fair value of ABS?
Our model-based fair value for Asseco Business Solutions S.A is 101.04 PLN (as of Aug 13, 2026), built from audited fundamentals. The current price is 89.60 PLN.
What is the quality score of ABS?
Asseco Business Solutions S.A has a Quality Score of 86/100. 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 Asseco Business Solutions S.A (ABS)?
Asseco Business Solutions S.A reported trailing-twelve-month revenue of about 499M PLN (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ABS?
The net profit margin of Asseco Business Solutions S.A is about 29.6%, meaning it keeps roughly 29.6% 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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