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Enter Air S.A (ENT) Fair Value & Analysis

Industrials · PL · Market cap 874M PLN

EA Enter Air S.A ENT · WAR
Price54.00 PLN
Fair Value61.80 PLN
Upside+14.4%
Quality51/100
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Healthy Growth
Thin margins · 1.2% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/13)
Narrow moat 31/100
Evidence: High Range 46.35 PLN – 104.71 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 49.85 PLN to 61.80 PLN (+24.0%) since Jul 12, 2026. Share price +10.2% over the past month.

A solid business, screening 14% undervalued on our models.

What matters now

  • A fairly wide model range (46.35 PLN to 104.71 PLN) leaves room in how you read the outcome.
  • Our model range runs from 46.35 PLN (bear) to 104.71 PLN (bull), base 61.80 PLN. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 51/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

66.10 PLN 18.12 PLN Fair Value 61.80 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 18.12 PLN – 66.10 PLN · fair‑value band 46.35 PLN – 104.71 PLN · the 54.00 PLN price screens below the 61.80 PLN fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Enter Air S.A (ENT) currently trades at 54.00 PLN, while our model-based Fair Value estimate is 61.80 PLN, implying the stock looks roughly 14.4% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Industrials 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, Enter Air S.A generated revenue of 3.0B PLN at a net margin of 7.5%. Revenue declined 7.5% year over year. It earns a return on equity of 53.7%. Net debt stands at 1.8B PLN. Fundamentals as of Aug 13, 2026

Our scenario range runs from 46.35 PLN (bear case) to 104.71 PLN (bull case); at 54.00 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 19% below its 52-week high and 11% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 29% fair-value upside, at 14%, ENT 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 341.82 PLN 587.93 PLN 1,008 PLN 80
Residual Income 90.11 PLN 142.67 PLN 1,960 PLN 76
Rev-Margin DCF 179.93 PLN 284.65 PLN 438.42 PLN 74
All 26 models by family
DCF Models
FCF DCF 359.37 PLN 552.84 PLN 1,061 PLN 38
Owner Earnings 421.40 PLN 859.19 PLN 1,672 PLN 31
5Y Revenue Exit 179.93 PLN 266.89 PLN 426.96 PLN 39
5Y EBITDA Exit 331.88 PLN 596.07 PLN 1,075 PLN 41
5Y P/E Exit 255.89 PLN 465.06 PLN 726.39 PLN 38
10Y Revenue Exit 236.53 PLN 367.43 PLN 497.17 PLN 36
10Y EBITDA Exit 336.90 PLN 628.96 PLN 1,147 PLN 37
10Y P/E Exit 288.01 PLN 498.17 PLN 839.92 PLN 35
Earnings-Based
Graham-Dodd 86.29 PLN 601.78 PLN 844.51 PLN 54
Lynch FV 177.75 PLN 253.93 PLN 330.10 PLN 50
PEG = 1.0 177.75 PLN 253.93 PLN 330.10 PLN 46
EPV 73.70 PLN 81.94 PLN 88.81 PLN 59
Dividend Discount
Gordon GGM 23.31 PLN 42.00 PLN 57.82 PLN 70
DDM Multi-Stage 23.31 PLN 38.37 PLN 44.87 PLN 61
Multiples
P/E Multiple 199.87 PLN 266.49 PLN 333.11 PLN 63
P/S Multiple 161.80 PLN 215.73 PLN 269.66 PLN 58
P/B Multiple 96.00 PLN 128.00 PLN 159.99 PLN 55
EV/EBIT 120.30 PLN 155.98 PLN 191.66 PLN 53
EV/EBITDA 331.16 PLN 437.14 PLN 543.11 PLN 54
EV/Revenue 89.65 PLN 122.40 PLN 155.14 PLN 43
Asset-Based
NCAV (Graham) 14.22 PLN 19.06 PLN 28.44 PLN 50
Growth DCF
Growth DCF 341.82 PLN 587.93 PLN 1,008 PLN 80
Rev-Margin DCF 179.93 PLN 284.65 PLN 438.42 PLN 74
Economic Profit
Residual Income 90.11 PLN 142.67 PLN 1,960 PLN 76
ROIC Compounder 82.55 PLN 102.47 PLN 126.18 PLN 72
Growth Earnings
Growth-Adj P/E 243.12 PLN 347.32 PLN 451.51 PLN 68

Widest divergence: DCF Models (498.17 PLN) versus Asset-Based (19.06 PLN). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 3.0B PLN
Revenue growth (YoY) +3.7%
Net margin 1.2%
Return on equity 10.4%
Free cash flow 476M PLN FY2025
P/E ratio 25.7
More key figures
Operating margin -10.6%
EPS (TTM) 2.10 PLN
EPS growth (YoY) -41.4%
Net debt 1.8B PLN FY2024

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

Quality Score breakdown

Overall quality 51/100

Of which business quality 55 · Market factors (momentum, volatility) 45

Profitability 56
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 81
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 37
Disciplined investing over empire-building
Low Volatility 76
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 33
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

Enter Air S.A. operates as a charter airline company in Europe. The company also offers production planning, technical documentation and records, material logistics, and compliance and security, and professional aircraft maintenance and services.

Full company description

Enter Air S.A. operates as a charter airline company in Europe. The company also offers production planning, technical documentation and records, material logistics, and compliance and security, and professional aircraft maintenance and services. In addition, the company provides advertising services, comprising inflight sales magazine, advertising on the outside of the plane, logo on tables, logo on catering carts, logo on the headrests, on-board announcement, and leaflets in the seat pocket. The company operates a fleet of 30 aircrafts. Enter Air S.A. was incorporated in 2009 and is based in Warsaw, Poland.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Enter Air S.A reported revenue of 3.0B PLN in FY2025 versus 1.1B PLN in FY2021, a compound +27.4%/yr. Reported net income was 223M PLN in FY2025.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
3.0B PLN
Latest YoY
+0.9%
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.
+9.4%
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.
+44.4%
Avg. growth/yr (13Y) 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.
+13.5%
Revenue +27.4%/yr
FY21 1.1B PLN
FY22 2.3B PLN
FY23 2.6B PLN
FY24 2.9B PLN
FY25 3.0B PLN
Net income
FY21 −117M PLN
FY22 72.3M PLN
FY23 196M PLN
FY24 65.6M PLN
FY25 223M PLN
Character of growth · EPS growth decomposed (2013-2024) +16.6 % p.a.
Revenue per share +11.7 pp

of which total revenue +15.6 pp · buybacks/dilution −3.9 pp

EBIT margin +6.2 pp
Tax rate +0.8 pp
Residual (interest, one-offs) −2.1 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). "Enter Air S.A Fair Value". https://www.fairvalue-calculator.com/stock/ENT

Peer Group

Airlines · 60 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 51 · Above median
Fair Value upside +14% · Above median
Return on equity (TTM) 10% · Below median
Return on assets 3% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) -11% · Bottom 25%
Revenue growth 4% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.03× · Lower than 75% of peers

Valuation Multiples vs Airlines median · lower = cheaper

P/E (TTM) 25.7× · Pricier than 75% of peers
P/B 0.47× · Cheaper than 75% of peers
P/S (TTM) 0.08× · Cheaper than 75% of peers
P/FCF 0.5× · 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 53 · sector 47
FUTURE 19 · sector 45
PAST 41 · sector 47
HEALTH 99 · sector 71
DIVIDEND 0 · sector 41

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

Stock Price Fair Value vs Fair Value
Delta Air Lines, Inc DAL $89.93 $115.82 +29%
United Airlines Holdings UAL $125.12 $175.62 +40%
Ryanair Holdings RYA €25.47 €41.26 +62%
Southwest Airlines Co LUV $44.98 $14.76 -67%
InterGlobe Aviation Limited INDIGO ₹5,333 ₹3,073 -42%
Singapore Airlines Limited C6L 7.09 SGD 7.89 SGD +11%
Air China Limited 601111 ¥5.94 ¥7.16 +21%
China Southern Airlines Company 600029 ¥5.07 ¥1.28 -75%
China Eastern Airlines Corporation 600115 ¥3.57 ¥14.20 +298%
Cathay Pacific Airways Limited 0293 HK$14.80 HK$31.02 +110%

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Frequently asked questions

Is Enter Air S.A (ENT) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 61.80 PLN versus a price of 54.00 PLN, about +14% (undervalued).
What is the fair value of ENT?
Our model-based fair value for Enter Air S.A is 61.80 PLN (as of Aug 13, 2026), built from audited fundamentals. The current price is 54.00 PLN.
What is the quality score of ENT?
Enter Air S.A has a Quality Score of 51/100. 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 Enter Air S.A (ENT)?
Enter Air S.A reported trailing-twelve-month revenue of about 3.0B PLN (latest available figure, as of Aug 13, 2026).
What is the net profit margin of ENT?
The net profit margin of Enter Air S.A is about 7.5%, meaning it keeps roughly 7.5% 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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