Benefit Systems SA (BFT) Fair Value & Analysis
Consumer Cyclical · PL · Market cap 17.3B PLN (≈ $4.7B) · ISIN PLBNFTS00018
What is Benefit Systems SA really worth?
Below-average quality, and trading another 42% above our fair value of 3,714 PLN.
Strengths
Risks
Fair value as of: Aug 23, 2026
From 26 valuation models · updated 13 days ago
Share price −3.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (4,703 PLN). The favourable scenario is already priced in.
- Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (2,466 PLN to 4,703 PLN) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.
How to read this chart
60‑month range 440.43 PLN – 5,660 PLN · fair‑value band 2,466 PLN – 4,703 PLN · the 5,275 PLN price screens above the 3,714 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 23, 2026.
Analysis
Benefit Systems SA (BFT) currently trades at 5,275 PLN, while our model-based Fair Value estimate is 3,714 PLN, implying the stock looks roughly 42.0% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Growth Earnings group reads highest at a median of 5,974 PLN per share, and 6 of the 26 models we run sit above the 5,275 PLN price. Bear case: the Asset-Based group reads lowest at 478.77 PLN, and 20 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Benefit Systems SA generated revenue of 5.0B PLN at a net margin of 15.0%. Revenue grew 45.4% year over year. It earns a return on equity of 38.1%. Net debt stands at 795M PLN. Fundamentals as of Aug 23, 2026
Our scenario range runs from 2,466 PLN (bear case) to 4,703 PLN (bull case); at 5,275 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 81% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −1% fair-value upside, at −30%, BFT screens richer 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 155.70 PLN per share, which is 4.2 % 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.
All 26 models by family
Widest divergence: Growth Earnings (5,974 PLN) versus Asset-Based (478.77 PLN). Highest evidence: FCF DCF (75).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 47 · Market factors (momentum, volatility) 87
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
Benefit Systems S.A. provides non-pay employee benefits solutions in Poland, Czech Republic, Slovakia, Bulgaria, Croatia, and Turkey.
Full company description
Benefit Systems S.A. provides non-pay employee benefits solutions in Poland, Czech Republic, Slovakia, Bulgaria, Croatia, and Turkey. The company offers Multisport card, which provides access to sports facilities; MultiBilet and MultiTeatr for providing solutions for culture and entertainment; MyBenefit platform for distributing sport cards, as well as provides wellbeing services. It also develops MultiLife, an online accessible product engages in promoting employee well-being in the areas of mental health, personal development, healthy eating, and physical activity. Benefit Systems S.A. was founded in 2000 and is based in Warsaw, Poland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Benefit Systems SA reported revenue of 4.5B PLN in FY2025 versus 955M PLN in FY2021, a compound +47.5%/yr. Reported net income was 571M PLN in FY2025.
of which total revenue +22.1 % · buybacks/dilution −1.8 %
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).
BFT screens 42% overvalued. Compare with ANTA Sports Products Limited →
Peer Group
Leisure · 190 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.
Valuation Multiples vs Leisure median · lower = cheaper
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.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Leisure stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ANTA Sports Products Limited 82020 | HK$65.10 | HK$97.98 | +51% |
| Pop Mart International Group 9992 | HK$158.70 | HK$227.30 | +43% |
| Amer Sports, Inc AS | $33.03 | $16.16 | −51% |
| Hasbro, Inc HAS | $94.10 | $81.97 | −13% |
| Life Time Group LTH | $45.40 | $15.61 | −66% |
| Li Ning Company 82331 | HK$11.62 | HK$11.48 | −1% |
| Acushnet Holdings GOLF | $89.10 | $36.89 | −59% |
| Ninebot Limited 689009 | ¥44.94 | ¥39.73 | −12% |
| Mattel, Inc MAT | $15.26 | $18.93 | +24% |
| Planet Fitness, Inc PLNT | $53.33 | $52.62 | −1% |
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