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

Technology · PL · Market cap 2.9B PLN (≈ $777M) · ISIN PLABS0000018

What is Asseco Business Solutions S.A. really worth?

AB Asseco Business Solutions S.A. ABS · WAR
Price84.80 PLN
Fair Value101.04 PLN
Upside+19.2%
Quality86/100

A strong business, trading 16% below our fair value of 101.04 PLN.

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Strengths

Healthy Growth (revenue 5y +11.1 %/yr)
Highly profitable · 29.6% net margin
Low debt · generates free cash flow
Ranks above peers (14/14)
Wide moat 91/100
Evidence: High Range 65.45 PLN – 126.37 PLN

Fair value as of: Aug 22, 2026

From 26 valuation models · updated 14 days ago

Share price −1.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • A fairly wide model range (65.45 PLN to 126.37 PLN) leaves room in how you read the outcome.
  • The price sits in the lower half of our model range, the side with the larger margin of safety.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

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

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 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 84.80 PLN price screens below the 101.04 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

Asseco Business Solutions S.A. (ABS) currently trades at 84.80 PLN, while our model-based Fair Value estimate is 101.04 PLN, implying the stock looks roughly 16.1% undervalued today. The Quality Score stands at 86/100 (high quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of 99.32 PLN per share, and 11 of the 26 models we run sit above the 84.80 PLN price. Bear case: the Economic Profit group reads lowest at 27.22 PLN, and 15 of the 26 models stay below the price. Evidence for this calculation is high.

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 22, 2026

Our scenario range runs from 65.45 PLN (bear case) to 126.37 PLN (bull case); at 84.80 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 8% below its 52-week high and 32% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −38% fair-value upside, at 19%, ABS screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 3.02 PLN per share, which is 3.0 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
FCF DCF best evidence 60.70 PLN 99.32 PLN 160.55 PLN 79
Growth DCF 60.69 PLN 97.01 PLN 153.12 PLN 77
Owner Earnings 54.76 PLN 89.45 PLN 144.45 PLN 75
All 26 models by family
DCF Models
FCF DCF best evidence 60.70 PLN 99.32 PLN 160.55 PLN 79
Owner Earnings 54.76 PLN 89.45 PLN 144.45 PLN 75
5Y Revenue Exit 47.94 PLN 76.05 PLN 112.74 PLN 72
5Y EBITDA Exit 67.65 PLN 115.10 PLN 172.86 PLN 74
5Y P/E Exit 73.03 PLN 125.75 PLN 184.10 PLN 70
10Y Revenue Exit 50.72 PLN 77.96 PLN 116.72 PLN 66
10Y EBITDA Exit 64.54 PLN 105.32 PLN 164.08 PLN 67
10Y P/E Exit 67.97 PLN 112.78 PLN 172.93 PLN 63
Earnings-Based
Graham-Dodd 27.54 PLN 110.47 PLN 150.20 PLN 64
Lynch FV 27.50 PLN 39.28 PLN 51.06 PLN 61
PEG = 1.0 27.50 PLN 39.28 PLN 51.06 PLN 57
EPV 38.36 PLN 44.03 PLN 48.92 PLN 74
Dividend Discount
Gordon GGM 29.15 PLN 58.08 PLN 87.95 PLN 67
DDM Multi-Stage 29.15 PLN 50.19 PLN 61.31 PLN 67
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 66
EV/EBITDA 78.44 PLN 103.76 PLN 129.09 PLN 67
EV/Revenue 42.39 PLN 59.50 PLN 76.61 PLN 54
Asset-Based
NCAV (Graham) 6.49 PLN 8.70 PLN 12.98 PLN 54
Growth DCF
Growth DCF 60.69 PLN 97.01 PLN 153.12 PLN 77
Rev-Margin DCF 47.94 PLN 75.95 PLN 110.63 PLN 72
Economic Profit
Residual Income 22.91 PLN 27.22 PLN 82.61 PLN 66
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 67

Widest divergence: DCF Models (99.32 PLN) versus Asset-Based (8.70 PLN). Highest evidence: FCF DCF (79).

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Key figures & financial health

P/E ratio 19.0
P/S ratio 5.30 P/E × margin
EPS (TTM) 4.46 PLN price ÷ EPS = P/E 19.0
Dividend yield 3.6% payout 68.9%
Net margin 27.9% FY2025
Return on equity 34.3% TTM
More key figures
Profitability
Return on assets (EBIT) 22.8% avg 5y
Operating margin 35.8% TTM
Growth
Revenue (TTM) 499M PLN TTM
Revenue growth (YoY) +20.6% 3y avg +12.1%
EPS growth (YoY) +50.7%
Balance sheet & cash flow
Free cash flow 165M PLN FY2025
Net debt 8.6M PLN FY2024 · ≈ 0.1 yrs of FCF

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 86/100

Of which business quality 83 · Market factors (momentum, volatility) 61

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 87
Calm price path (market factor)
Momentum 47
Price trend over the last 3–12 months (market factor)
52W Momentum 57
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

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. revenue 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. revenue 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. revenue 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%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+13.1% (9.5 + 3.6)
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 %

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

EBIT margin +2.1 %
Tax rate +1.1 %
Residual (interest, one-offs) −0.4 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. 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 · 690 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 +19% · Top 25%
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) 3.6% · Top 25%

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 19.0× · Cheaper than median
P/B 1.82× · Cheaper than median
P/S (TTM) 1.56× · Cheaper than median
P/FCF 4.7× · Cheaper than median
EV/EBITDA 4.1× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE59 · sector 0
FUTURE100 · sector 37
PAST100 · sector 12
HEALTH100 · sector 98
DIVIDEND72 · sector 28

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

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAP €191.32 €169.59 −11%
Shopify Inc SHOP C$209.78 C$28.76 −86%
Uber Technologies, Inc UBER $78.82 $43.66 −45%
Salesforce, Inc CRM $252.05 $249.28 −1%
ServiceNow, Inc NOW $138.43 $43.73 −68%
Cadence Design Systems, Inc CDNS $340.39 $112.57 −67%
Snowflake Inc SNOW $329.11 $42.27 −87%
Adobe Inc ADBE $289.15 $454.04 +57%
Automatic Data Processing, Inc ADP $284.68 $177.51 −38%
Intuit Inc INTU $348.00 $363.46 +4%

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Frequently asked questions

Is Asseco Business Solutions S.A. (ABS) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of 101.04 PLN versus a price of 84.80 PLN, about +19% upside (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 22, 2026), built from audited fundamentals. The current price: 84.80 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 22, 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.
Does Asseco Business Solutions S.A. pay a dividend?
Asseco Business Solutions S.A. currently shows a dividend yield of about 3.62% relative to its recent price (as of Aug 22, 2026).
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