Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna (PKO) Fair Value & Analysis
Financial Services · PL · Market cap 134B PLN
Fair value as of: Aug 13, 2026
From 4 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from 111.09 PLN to 85.97 PLN (−22.6%) since Jul 19, 2026. Share price +1.8% over the past month.
A solid business, but screening 23% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (107.47 PLN). The favourable scenario is already priced in.
- Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
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 18.55 PLN – 113.44 PLN · fair‑value band 64.48 PLN – 107.47 PLN · the 111.08 PLN price screens above the 85.97 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.
Analysis
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna (PKO) currently trades at 111.08 PLN, while our model-based Fair Value estimate is 85.97 PLN, implying the stock looks roughly 22.6% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Financial Services 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, Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna generated revenue of 29.2B PLN at a net margin of 36.8%. Revenue grew 0.1% year over year. It earns a return on equity of 18.6%. Net debt stands at 12.9B PLN. Fundamentals as of Aug 13, 2026
Our scenario range runs from 64.48 PLN (bear case) to 107.47 PLN (bull case); at 111.08 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 74% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 47% fair-value upside, at -23%, PKO 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.
All 4 models by family
Widest divergence: Economic Profit (74.14 PLN) versus Asset-Based (31.36 PLN). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 49 · Market factors (momentum, volatility) 75
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
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna provides various banking products and services in Poland and internationally. It operates through three segments: Retail, Corporate and Investment, and Transfer Center and Other.
Full company description
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna provides various banking products and services in Poland and internationally. It operates through three segments: Retail, Corporate and Investment, and Transfer Center and Other. The company offers current, currency, children and teenagers, and savings accounts; term deposits; and consumer, real estate, business, mortgage, and corporate loans. It also provides investment and insurance products; investment funds; credit, account, and debit cards; payments and online banking services; and private banking, electronic, and mobile banking services; leases and factoring services to firms and enterprises, developers, cooperatives, and property managers; and cash management and trade finance services, safekeeping of securities, and currency products and derivatives. In addition, the company is involved in agreement for financing large projects; issuing non-treasury securities; and investing and brokerage activities, as well as transactions in derivative instruments and debt securities; investment and pension fund management; sale of post-lease assets; securitization of lease receivables; lease of cars; outsourcing of IT specialists; and developing, leasing, buying, selling, and managing real estate. Further, it offers life, house and apartment, travel, health, banking product, and personal insurance; and transfer agent, debt collection, and fleet management services. It serves its products and services to individual customers, companies, enterprises, and corporations and local governments. The company was founded in 1919 and is based in Warsaw, Poland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna reported revenue of 31.1B PLN in FY2025 versus 15.1B PLN in FY2021, a compound +19.7%/yr. Reported net income was 10.7B PLN in FY2025, compounding +21.7%/yr from FY2021.
of which total revenue +9.4 pp · buybacks/dilution +0.0 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).
PKO screens 23% overvalued. Compare with PT Bank Central Asia Tbk →
Peer Group
Banks - Regional · 1086 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 Banks - Regional median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| PT Bank Central Asia Tbk BBCA | 6,350 IDR | 4,637 IDR | -27% |
| KB Financial Group 105560 | 168,100 KRW | 220,258 KRW | +31% |
| PT Bank Rakyat Indonesia (Persero) Tbk BBRI | 3,110 IDR | 3,792 IDR | +22% |
| PT Bank Mandiri (Persero) Tbk BMRI | 4,130 IDR | 6,067 IDR | +47% |
| Banco Bradesco S.A BBD | 5,120 ARS | 8,400 ARS | +64% |
| Shinhan Financial Group 055550 | 103,800 KRW | 146,032 KRW | +41% |
| Hana Financial Group 086790 | 127,900 KRW | 210,506 KRW | +65% |
| Lloyds Banking Group LYG | 4,138 ARS | 8,275 ARS | +100% |
| Joint Stock Commercial Bank for Foreign Trade of Vietnam, VCB | 59,500 VND | 45,959 VND | -23% |
| Woori Financial Group 316140 | 33,000 KRW | 60,758 KRW | +84% |
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Frequently asked questions
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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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