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LPP S.A. (LPP) Fair Value & Analysis

Consumer Cyclical · PL · Market cap 36.0B PLN (≈ $9.7B) · ISIN PLLPP0000011

What is LPP S.A. really worth?

LS LPP S.A. LPP · WAR
Price21,340 PLN
Fair Value17,754 PLN
Upside−16.8%
Quality62/100

A solid business, but trading 20% above our fair value of 17,754 PLN.

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Strengths

Healthy Growth (revenue 5y +24.1 %/yr)
Low debt · generates free cash flow

Risks

!Loss over the last twelve months · -0.6% net margin · fiscal year 2026 6.5%
!Mixed vs. peers (7/15)
!Moderate moat 58/100
!Evidence only medium, so the estimate is less certain
!Weak on valuation: 11 out of 100
Evidence: Medium Range 11,378 PLN – 22,193 PLN

Fair value as of: Sep 5, 2026

From 26 valuation models · updated today

Share price −3.0% over the past month.

What runs behind every stock

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

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.

Price vs Fair Value (5 years)

23,880 PLN 6,577 PLN Fair Value 17,754 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 6,577 PLN – 23,880 PLN · fair‑value band 11,378 PLN – 22,193 PLN · the 21,340 PLN price screens above the 17,754 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

LPP S.A. (LPP) currently trades at 21,340 PLN, while our model-based Fair Value estimate is 17,754 PLN, implying the stock looks roughly 20.2% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of 20,928 PLN per share, and 9 of the 26 models we run sit above the 21,340 PLN price. Bear case: the Asset-Based group reads lowest at 2,022 PLN, and 17 of the 26 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, LPP S.A. 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 Sep 5, 2026

Our scenario range runs from 11,378 PLN (bear case) to 22,193 PLN (bull case); at 21,340 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 12% below its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −24% fair-value upside, at −17%, LPP screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 7 months have passed since. In that time the company retained roughly 524.24 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 11,238 PLN 20,928 PLN 45,800 PLN 74
EPV 16,391 PLN 19,207 PLN 21,671 PLN 74
Growth DCF 10,882 PLN 22,951 PLN 42,302 PLN 74
All 26 models by family
DCF Models
FCF DCF 11,238 PLN 20,928 PLN 45,800 PLN 74
Owner Earnings 2,652 PLN 6,052 PLN 12,687 PLN 71
5Y Revenue Exit 10,504 PLN 20,744 PLN 35,490 PLN 70
5Y EBITDA Exit 22,109 PLN 46,793 PLN 80,279 PLN 72
5Y P/E Exit 11,933 PLN 23,952 PLN 38,729 PLN 68
10Y Revenue Exit 10,273 PLN 20,471 PLN 37,800 PLN 63
10Y EBITDA Exit 18,647 PLN 40,532 PLN 78,785 PLN 64
10Y P/E Exit 11,653 PLN 22,941 PLN 40,945 PLN 61
Earnings-Based
Graham-Dodd 5,488 PLN 33,157 PLN 46,229 PLN 63
Lynch FV 9,468 PLN 13,526 PLN 17,583 PLN 61
PEG = 1.0 9,468 PLN 13,526 PLN 17,583 PLN 57
EPV 16,391 PLN 19,207 PLN 21,671 PLN 74
Dividend Discount
Gordon GGM 6,051 PLN 12,582 PLN 19,960 PLN 66
DDM Multi-Stage 6,051 PLN 10,610 PLN 13,205 PLN 66
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 66
EV/EBITDA 27,950 PLN 37,434 PLN 46,918 PLN 67
EV/Revenue 9,942 PLN 14,417 PLN 18,893 PLN 53
Asset-Based
NCAV (Graham) 1,509 PLN 2,022 PLN 3,018 PLN 54
Growth DCF
Growth DCF 10,882 PLN 22,951 PLN 42,302 PLN 74
Rev-Margin DCF 10,504 PLN 20,280 PLN 34,098 PLN 70
Economic Profit
Residual Income 4,863 PLN 5,766 PLN 17,052 PLN 66
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 67

Widest divergence: DCF Models (20,928 PLN) versus Asset-Based (2,022 PLN). Highest evidence: FCF DCF (74).

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Key figures & financial health

P/E ratio 26.5
P/S ratio 1.72 P/E × margin
EPS (TTM) 805.68 PLN price ÷ EPS = P/E 26.5
Dividend yield 3.1% payout 80.9%
Net margin 6.5% FY2026
Return on equity 27.4% TTM
More key figures
Profitability
Return on assets (EBIT) 14.4% avg 5y
Operating margin 14.6% TTM
Growth
Revenue (TTM) 8.4B PLN TTM
Revenue growth (YoY) +13.9% 3y avg +13.2%
EPS growth (YoY) +58.9%
Balance sheet & cash flow
Free cash flow 1.5B PLN FY2026
Net debt 1.4B PLN FY2026 · ≈ 0.9 yrs of FCF

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 63 · Market factors (momentum, volatility) 64

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 71
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 70
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.

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

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 S.A. 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. 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.
+13.2%
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.
+24.1%
Avg. revenue 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%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+18.7% (15.6 + 3.1)
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 %

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

EBIT margin −0.7 %
Tax rate −1.5 %
Residual (interest, one-offs) +1.3 %

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).

LPP screens 20% overvalued. Compare with H & M Hennes & Mauritz AB →

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Cite: Fair Value Calculator (2026). "LPP S.A. 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 −17% · Below median
Return on equity (TTM) 27% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) −1% · Bottom 25%
Operating margin (TTM) 13% · Top 25%
Revenue growth 11% · Top 25%
Dividend yield (TTM) 3.1% · Above median
Debt / equity 0.25× · Higher than 75% of peers

Valuation Multiples vs Apparel Manufacturing median · lower = cheaper

P/E (TTM) 26.5× · Pricier than median
P/B 1.73× · Pricier than median
P/S (TTM) 1.16× · 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

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
VALUE11 · sector 24
FUTURE53 · sector 4
PAST100 · sector 20
HEALTH88 · sector 98
DIVIDEND61 · sector 54

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 Apparel Manufacturing stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
H & M Hennes & Mauritz AB HMB kr 175.50 kr 165.47 −6%
Ralph Lauren Corporation RL $396.35 $220.38 −44%
Moncler S.p.A MONC €46.15 €50.69 +10%
Gildan Activewear Inc GIL C$75.50 C$45.60 −40%
Levi Strauss & Co LEVI $21.05 $15.20 −28%
V.F. Corporation VFC $13.67 $10.44 −24%
Bosideng International Holdings 3998 HK$4.42 HK$5.92 +34%
Youngor Fashion Co 600177 ¥7.91 ¥5.59 −29%
Kontoor Brands, Inc KTB $82.01 $85.76 +5%
Page Industries Limited PAGEIND ₹35,155 ₹12,395 −65%

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Frequently asked questions

Is LPP S.A. (LPP) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of 17,754 PLN versus a price of 21,340 PLN, about −17% upside (overvalued).
What is the fair value of LPP?
Our model-based fair value for LPP S.A. is 17,754 PLN (as of Sep 5, 2026), built from audited fundamentals. The current price: 21,340 PLN.
What is the quality score of LPP?
LPP S.A. 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 S.A. (LPP)?
LPP S.A. reported trailing-twelve-month revenue of about 8.4B PLN (latest available figure, as of Sep 5, 2026).
What is the net profit margin of LPP?
The net profit margin of LPP S.A. is about −0.6%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does LPP S.A. pay a dividend?
LPP S.A. currently shows a dividend yield of about 3.06% relative to its recent price (as of Sep 5, 2026).
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