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Allegro.eu S.A. (ALE) Fair Value & Analysis

Consumer Cyclical · PL · Market cap 40.5B PLN (≈ $10.9B) · ISIN LU2237380790

What is Allegro.eu S.A. really worth?

AE Allegro.eu S.A. ALE · WAR
Price45.61 PLN
Fair Value32.94 PLN
Upside−27.8%
Quality77/100

A strong business, but trading 38% above our fair value of 32.94 PLN.

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Strengths

Healthy Growth (revenue 5y +23.4 %/yr)
Solidly profitable · 13.2% net margin
Low debt · generates free cash flow
Ranks above peers (10/15)

Risks

!Moderate moat 64/100
Evidence: High Range 24.13 PLN – 41.18 PLN

Fair value as of: Sep 5, 2026

From 26 valuation models · updated today

Share price +1.0% over the past month.

What runs behind every stock

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

What matters now

  • A high-quality business (quality 77/100), 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 (41.18 PLN). The favourable scenario is already priced in.

Price vs Fair Value (5 years)

73.90 PLN 18.37 PLN Fair Value 32.94 PLN May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range 18.37 PLN – 73.90 PLN · fair‑value band 24.13 PLN – 41.18 PLN · the 45.61 PLN price screens above the 32.94 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

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Analysis

Allegro.eu S.A. (ALE) currently trades at 45.61 PLN, while our model-based Fair Value estimate is 32.94 PLN, implying the stock looks roughly 38.4% overvalued today. The Quality Score stands at 77/100 (high quality), in the Consumer Cyclical sector. Bull case: the Dividend Discount group reads highest at a median of 72.29 PLN per share, and 10 of the 26 models we run sit above the 45.61 PLN price. Bear case: the Asset-Based group reads lowest at 6.71 PLN, and 16 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Allegro.eu S.A. generated revenue of 11.9B PLN at a net margin of 13.2%. Revenue grew 11.7% year over year. It earns a return on equity of 17.7%. Net debt stands at 2.5B PLN. Fundamentals as of Sep 5, 2026

Our scenario range runs from 24.13 PLN (bear case) to 41.18 PLN (bull case); at 45.61 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 near its 52-week high and 79% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −50% fair-value upside, at −28%, ALE 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 1.20 PLN per share, which is 3.7 % 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 26.41 PLN 45.98 PLN 102.17 PLN 74
EPV 14.04 PLN 16.78 PLN 19.18 PLN 74
Growth DCF 25.06 PLN 51.39 PLN 101.71 PLN 74
All 26 models by family
DCF Models
FCF DCF 26.41 PLN 45.98 PLN 102.17 PLN 74
Owner Earnings 22.85 PLN 55.11 PLN 122.84 PLN 70
5Y Revenue Exit 12.85 PLN 23.03 PLN 42.41 PLN 69
5Y EBITDA Exit 26.32 PLN 52.17 PLN 99.44 PLN 71
5Y P/E Exit 23.11 PLN 49.58 PLN 83.50 PLN 68
10Y Revenue Exit 16.40 PLN 30.87 PLN 46.39 PLN 65
10Y EBITDA Exit 26.29 PLN 56.45 PLN 111.43 PLN 64
10Y P/E Exit 24.02 PLN 50.34 PLN 95.17 PLN 60
Earnings-Based
Graham-Dodd 10.18 PLN 71.01 PLN 99.65 PLN 63
Lynch FV 21.19 PLN 30.28 PLN 39.36 PLN 61
PEG = 1.0 21.19 PLN 30.28 PLN 39.36 PLN 57
EPV 14.04 PLN 16.78 PLN 19.18 PLN 74
Dividend Discount
Gordon GGM 41.23 PLN 85.73 PLN 136.00 PLN 66
DDM Multi-Stage 41.23 PLN 72.29 PLN 89.98 PLN 66
Multiples
P/E Multiple 24.71 PLN 32.94 PLN 41.18 PLN 63
P/S Multiple 10.18 PLN 13.57 PLN 16.96 PLN 58
P/B Multiple 19.09 PLN 25.45 PLN 31.82 PLN 55
EV/EBIT 26.36 PLN 35.96 PLN 45.56 PLN 66
EV/EBITDA 26.82 PLN 36.58 PLN 46.33 PLN 67
EV/Revenue 7.06 PLN 11.13 PLN 15.20 PLN 53
Asset-Based
NCAV (Graham) 5.01 PLN 6.71 PLN 10.01 PLN 54
Growth DCF
Growth DCF 25.06 PLN 51.39 PLN 101.71 PLN 74
Rev-Margin DCF 12.85 PLN 24.78 PLN 42.51 PLN 70
Economic Profit
Residual Income 10.00 PLN 12.35 PLN 24.20 PLN 72
ROIC Compounder 17.11 PLN 26.75 PLN 33.86 PLN 71
Growth Earnings
Growth-Adj P/E 29.48 PLN 42.12 PLN 54.76 PLN 67

Widest divergence: Dividend Discount (72.29 PLN) versus Asset-Based (6.71 PLN). Highest evidence: FCF DCF (74).

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Key figures & financial health

P/E ratio 25.9
P/S ratio 3.43 P/E × margin
EPS (TTM) 1.76 PLN price ÷ EPS = P/E 25.9
Dividend yield 13.1%
Net margin 13.2% FY2025
Return on equity 17.7% TTM
More key figures
Profitability
Return on assets (EBIT) 5.4% avg 5y
Operating margin 20.0% TTM
Growth
Revenue (TTM) 11.9B PLN TTM
Revenue growth (YoY) +11.7% 3y avg +8.4%
EPS growth (YoY) +9.6%
Balance sheet & cash flow
Free cash flow 1.9B PLN FY2025
Net debt 2.5B PLN FY2025 · ≈ 1.3 yrs of FCF

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 77/100

Of which business quality 73 · Market factors (momentum, volatility) 84

Profitability 61
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 64
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 87
Price trend over the last 3–12 months (market factor)
52W Momentum 85
Distance to the 52-week high (market factor)
Net Issuance 98
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

Allegro.eu S.A. operates a commerce platform for consumers in Poland, Czech Republic, Slovakia, Hungary, and internationally. It operates through Allegro, Ceneo, Allegro International, and Other segments.

Full company description

Allegro.eu S.A. operates a commerce platform for consumers in Poland, Czech Republic, Slovakia, Hungary, and internationally. It operates through Allegro, Ceneo, Allegro International, and Other segments. The company engages in operating B2C, C2C, and B2B e-commerce platforms comprising online marketplace; and various services, such as consumer lending and logistics services. It also provides multi-category price comparison services allowing the customer to find prices among the different websites and marketplaces. In addition, it operates eBilet, an event ticket sales site. Further, the company operates Allegro. pl, an online marketplace; Ceneo.pl, a price comparison platform. Additionally, the company engages in online marketplace; retail sale via the Internet; advertising; logistic services; online price comparison services; consumer lending to marketplace buyers; online tickets distribution; software and solutions for delivery logistics; and provides payment services to partners. The company was formerly known as Adinan Super Topco S.a r.l. and changed its name to Allegro.eu S.A. in August 2020. The company was incorporated in 2017 and is based in Luxembourg, Luxembourg.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Allegro.eu S.A. reported revenue of 11.5B PLN in FY2025 versus 5.4B PLN in FY2021, a compound +21.0%/yr. Reported net income was 1.5B PLN in FY2025, compounding +8.6%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
11.5B PLN
Latest YoY
+5.9%
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.
+8.4%
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.
+23.4%
Avg. revenue growth/yr (8Y) 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.
+27.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+36.1% (23.0 + 13.1)
Revenue +21.0%/yr
FY21 5.4B PLN
FY22 9.0B PLN
FY23 10.2B PLN
FY24 10.8B PLN
FY25 11.5B PLN
Net income +8.6%/yr
FY21 1.1B PLN
FY22 −1.9B PLN
FY23 284M PLN
FY24 1.0B PLN
FY25 1.5B PLN

ALE screens 38% overvalued. Compare with Amazon.com, Inc →

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Cite: Fair Value Calculator (2026). "Allegro.eu S.A. Fair Value". https://www.fairvalue-calculator.com/stock/ALE

Peer Group

Internet Retail · 103 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 77 · Top 25%
Fair Value upside −28% · Below median
Return on equity (TTM) 18% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 20% · Top 25%
Revenue growth 12% · Above median
Dividend yield (TTM) 13.1% · Top 25%
Debt / equity 0.49× · Higher than 75% of peers

Valuation Multiples vs Internet Retail median · lower = cheaper

P/E (TTM) 25.9× · Pricier than median
P/B 1.08× · Cheaper than median
P/S (TTM) 0.92× · Pricier than median
P/FCF 5.9× · Pricier than median
EV/EBITDA 4.1× · Cheaper than 75% of peers
PEG 0.23× · 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
VALUE0 · sector 23
FUTURE59 · sector 52
PAST71 · sector 12
HEALTH75 · sector 94
DIVIDEND100 · sector 38

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

Similar stocks

10 more Internet Retail stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

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MercadoLibre, Inc MELI $1,966 $798.98 −59%
DoorDash, Inc DASH $222.00 $38.64 −83%
Sea Limited SE $118.32 $52.70 −55%
JD.com, Inc 89618 ¥95.45 ¥73.98 −22%
eBay Inc EBAY $105.62 $60.13 −43%
Coupang, Inc CPNG $16.32 $2.79 −83%
Delivery Hero SE DHER €37.05 €12.71 −66%

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Frequently asked questions

Is Allegro.eu S.A. (ALE) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of 32.94 PLN versus a price of 45.61 PLN, about −28% upside (overvalued).
What is the fair value of ALE?
Our model-based fair value for Allegro.eu S.A. is 32.94 PLN (as of Sep 5, 2026), built from audited fundamentals. The current price: 45.61 PLN.
What is the quality score of ALE?
Allegro.eu S.A. has a Quality Score of 77/100. 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 Allegro.eu S.A. (ALE)?
Allegro.eu S.A. reported trailing-twelve-month revenue of about 11.9B PLN (latest available figure, as of Sep 5, 2026).
What is the net profit margin of ALE?
The net profit margin of Allegro.eu S.A. is about 13.2%, meaning it keeps roughly 13.2% of revenue as net income. Based on the latest reported figures.
Does Allegro.eu S.A. pay a dividend?
Allegro.eu S.A. currently shows a dividend yield of about 13.08% relative to its recent price (as of Sep 5, 2026).
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