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LPP SA (LPP) Fair Value & Analysis

Consumer Cyclical · PL · Market cap 36.0B PLN

LS LPP SA LPP · WAR
Price21,820 PLN
Fair Value17,754 PLN
Upside-18.6%
Quality62/100
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Healthy Growth
Loss-making · -0.6% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/15)
Moderate moat 58/100
Evidence: High Range 11,378 PLN – 22,193 PLN Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated today

Share price +9.9% over the past month.

A solid business, but screening 19% overvalued on our models.

What matters now

  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (11,378 PLN to 22,193 PLN) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

23,880 PLN 6,577 PLN Fair Value 17,754 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 6,577 PLN – 23,880 PLN · fair‑value band 11,378 PLN – 22,193 PLN · the 21,820 PLN price screens above the 17,754 PLN fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

LPP SA (LPP) currently trades at 21,820 PLN, while our model-based Fair Value estimate is 17,754 PLN, implying the stock looks roughly 18.6% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, LPP SA generated revenue of 8.4B PLN at a net margin of -0.6%. Revenue grew 13.9% year over year. It earns a return on equity of 27.4%. Net debt stands at 1.4B PLN. Fundamentals as of Aug 13, 2026

Our scenario range runs from 11,378 PLN (bear case) to 22,193 PLN (bull case); at 21,820 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 10% below its 52-week high and 68% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 27% fair-value upside, at -19%, LPP 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 10,882 PLN 22,951 PLN 42,302 PLN 80
Residual Income 4,863 PLN 5,766 PLN 17,052 PLN 76
Rev-Margin DCF 10,504 PLN 20,280 PLN 34,098 PLN 74
All 26 models by family
DCF Models
FCF DCF 11,238 PLN 20,928 PLN 45,800 PLN 38
Owner Earnings 2,652 PLN 6,052 PLN 12,687 PLN 31
5Y Revenue Exit 10,504 PLN 20,744 PLN 35,490 PLN 39
5Y EBITDA Exit 22,109 PLN 46,793 PLN 80,279 PLN 41
5Y P/E Exit 11,933 PLN 23,952 PLN 38,729 PLN 38
10Y Revenue Exit 10,273 PLN 20,471 PLN 37,800 PLN 36
10Y EBITDA Exit 18,647 PLN 40,532 PLN 78,785 PLN 37
10Y P/E Exit 11,653 PLN 22,941 PLN 40,945 PLN 35
Earnings-Based
Graham-Dodd 5,488 PLN 33,157 PLN 46,229 PLN 54
Lynch FV 9,468 PLN 13,526 PLN 17,583 PLN 50
PEG = 1.0 9,468 PLN 13,526 PLN 17,583 PLN 46
EPV 16,391 PLN 19,207 PLN 21,671 PLN 59
Dividend Discount
Gordon GGM 6,051 PLN 12,582 PLN 19,960 PLN 70
DDM Multi-Stage 6,051 PLN 10,610 PLN 13,205 PLN 61
Multiples
P/E Multiple 13,316 PLN 17,754 PLN 22,193 PLN 63
P/S Multiple 10,289 PLN 13,719 PLN 17,149 PLN 58
P/B Multiple 9,053 PLN 12,071 PLN 15,088 PLN 55
EV/EBIT 27,105 PLN 36,307 PLN 45,510 PLN 53
EV/EBITDA 27,950 PLN 37,434 PLN 46,918 PLN 54
EV/Revenue 9,942 PLN 14,417 PLN 18,893 PLN 43
Asset-Based
NCAV (Graham) 1,509 PLN 2,022 PLN 3,018 PLN 50
Growth DCF
Growth DCF 10,882 PLN 22,951 PLN 42,302 PLN 80
Rev-Margin DCF 10,504 PLN 20,280 PLN 34,098 PLN 74
Economic Profit
Residual Income 4,863 PLN 5,766 PLN 17,052 PLN 76
ROIC Compounder 18,726 PLN 24,934 PLN 32,699 PLN 72
Growth Earnings
Growth-Adj P/E 14,022 PLN 20,032 PLN 26,042 PLN 68

Widest divergence: DCF Models (20,928 PLN) versus Asset-Based (2,022 PLN). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 8.4B PLN
Revenue growth (YoY) +13.9%
Net margin -0.6%
Return on equity 27.4%
Free cash flow 1.5B PLN FY2026
P/E ratio 27.1
More key figures
Operating margin 14.6%
EPS (TTM) 805.68 PLN
EPS growth (YoY) +58.9%
Net debt 1.4B PLN FY2026

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 63 · Market factors (momentum, volatility) 65

Profitability 74
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 53
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 35
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 77
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

LPP SA designs, manufactures, and distributes apparel for women, men, and children. It offers apparel, accessories, footwear, and supplementary items under the Reserved, Cropp, House, Mohito, and Sinsay brand names. The company sells its products through offline and online stores. LPP SA was incorporated in 1989 and is headquartered in Gdansk, Poland.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

LPP SA reported revenue of 23.1B PLN in FY2026 versus 14.0B PLN in FY2022, a compound +13.3%/yr. Reported net income was 1.5B PLN in FY2026, compounding +12.0%/yr from FY2022.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
23.1B PLN
Latest YoY
+14.4%
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.
+13.2%
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.
+24.1%
Avg. growth/yr (20Y) ⓘ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.
+19.2%
Revenue +13.3%/yr
FY22 14.0B PLN
FY23 15.9B PLN
FY24 17.4B PLN
FY25 20.2B PLN
FY26 23.1B PLN
Net income +12.0%/yr
FY22 954M PLN
FY23 1.1B PLN
FY24 1.6B PLN
FY25 1.7B PLN
FY26 1.5B PLN
Character of growth · EPS growth decomposed (2014-2025) +14.8 % p.a.
Revenue per share +15.9 pp

of which total revenue +16.1 pp · buybacks/dilution −0.2 pp

EBIT margin −0.7 pp
Tax rate −1.5 pp
Residual (interest, one-offs) +1.1 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).

LPP screens 19% overvalued. Compare with H & M Hennes & Mauritz AB →

Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
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LPP SA · Fair Value
17,754 PLN −19%Fair Value
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Cite: Fair Value Calculator (2026). "LPP SA Fair Value". https://www.fairvalue-calculator.com/stock/LPP

Peer Group

Apparel Manufacturing · 214 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 62 · Above median
Fair Value upside −18% · Below median
Return on equity (TTM) 27% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) -1% · Below median
Operating margin (TTM) 13% · Top 25%
Revenue growth 11% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.25× · Higher than 75% of peers

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 27.1× · Pricier than median
P/B 1.72× · Pricier than median
P/S (TTM) 1.15× · Pricier than median
P/FCF 6.4× · Pricier than 75% of peers
EV/EBITDA 14.3× · Pricier than 75% of peers
PEG 0.70× · 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 9 · sector 33
FUTURE 53 · sector 5
PAST 100 · sector 21
HEALTH 88 · sector 98
DIVIDEND 0 · sector 50

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

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 174.25 kr 165.47 -5%
Ralph Lauren Corporation RL $396.35 $220.38 -44%
Bosideng International Holdings 3998 HK$4.65 HK$5.92 +27%
Youngor Fashion Co 600177 ¥7.78 ¥5.59 -28%
Page Industries Limited PAGEIND ₹38,295 ₹12,395 -68%
Hla Group 600398 ¥6.07 ¥9.92 +63%
Youngone Corporation 111770 85,200 KRW 188,736 KRW +122%
F&F Co 383220 68,800 KRW 179,500 KRW +161%
Youngone Holdings 009970 188,300 KRW 697,038 KRW +270%
Wiselink Co 8932 105.00 TWD 37.95 TWD -64%

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Frequently asked questions

Is LPP SA (LPP) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 17,754 PLN versus a price of 21,820 PLN, about −19% (overvalued).
What is the fair value of LPP?
Our model-based fair value for LPP SA is 17,754 PLN (as of Aug 13, 2026), built from audited fundamentals. The current price is 21,820 PLN.
What is the quality score of LPP?
LPP SA has a Quality Score of 62/100. 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 LPP SA (LPP)?
LPP SA reported trailing-twelve-month revenue of about 8.4B PLN (latest available figure, as of Aug 13, 2026).
What is the net profit margin of LPP?
The net profit margin of LPP SA is about -0.6%, meaning it is currently running at a net loss. 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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