Zabka Group S.A. (ZAB) Fair Value & Analysis
Consumer Defensive · PL · Market cap 27.8B PLN (≈ $7.5B) · ISIN LU2910446546
What is Zabka Group S.A. really worth?
A solid business, but trading 36% above our fair value of 23.15 PLN.
Strengths
Risks
Fair value as of: Aug 13, 2026
From 24 valuation models · updated 22 days ago
Fair value updated Aug 13, 2026, revised from 25.91 PLN to 23.15 PLN (−10.7%) since Jul 16, 2026. Share price +0.5% 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 (30.34 PLN). The favourable scenario is already priced in.
- Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (23 months)
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
23‑month range 17.61 PLN – 33.46 PLN · fair‑value band 17.36 PLN – 30.34 PLN · the 31.55 PLN price screens above the 23.15 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
Zabka Group S.A. (ZAB) currently trades at 31.55 PLN, while our model-based Fair Value estimate is 23.15 PLN, implying the stock looks roughly 36.3% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Consumer Defensive sector. Bull case: the DCF Models group reads highest at a median of 46.15 PLN per share, and 12 of the 24 models we run sit above the 31.55 PLN price. Bear case: the Economic Profit group reads lowest at 14.00 PLN, and 12 of the 24 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Zabka Group S.A. generated revenue of 28.1B PLN at a net margin of 4.1%. Revenue grew 15.9% year over year. It earns a return on equity of 58.8%. Net debt stands at 3.1B PLN. Fundamentals as of Aug 13, 2026
Our scenario range runs from 17.36 PLN (bear case) to 30.34 PLN (bull case); at 31.55 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 60% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at −27% fair-value upside, at −27%, ZAB screens cheaper 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 0.7814 PLN per share, which is 3.4 % 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 24 models by family
Widest divergence: DCF Models (46.15 PLN) versus Asset-Based (1.67 PLN). Highest evidence: EPV (74).
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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 55 · Market factors (momentum, volatility) 84
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
Zabka Group S.A. operates as an ultimate convenience ecosystem in Poland. The company operates convenience retail stores and Zabka Nano Stores, an autonomous store.
Full company description
Zabka Group S.A. operates as an ultimate convenience ecosystem in Poland. The company operates convenience retail stores and Zabka Nano Stores, an autonomous store. It also provides digital offering solutions, including Maczfit, a direct-to-consumer (D2C) meal solution; Dietly, an online D2C meal solutions marketplace.; and eGrocery and e-commerce services under the Zappka, delio and Zabka Jush brands. In addition, the company franchises retail stores; and engages in the IT consultancy related activities, real estate construction, warehousing and storage of goods, rental and management of own or leased real estate, and sale of merchandise. Further, it is involved in the retail sale of tobacco products in specialised stores; production and distribution of ready meals; software related activities connected with catering platform; transport of goods; distribution of FMCG products; and other activities supporting financial services. It sells its products through physical convenience stores and online. The company was founded in 1998 and is headquartered in Luxembourg, Luxembourg.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Zabka Group S.A. reported revenue of 27.2B PLN in FY2025 versus 12.5B PLN in FY2021, a compound +21.4%/yr. Reported net income was 1.1B PLN in FY2025, compounding +22.6%/yr from FY2021.
ZAB screens 36% overvalued. Compare with Loblaw Companies Limited →
Peer Group
Grocery Stores · 77 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 Grocery Stores 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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Grocery Stores stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Loblaw Companies Limited L | C$60.79 | C$44.44 | −27% |
| Koninklijke Ahold Delhaize N.V AD | €30.57 | €53.50 | +75% |
| The Kroger Co KR | $57.72 | $28.19 | −51% |
| Woolworths Group WOW | A$40.32 | A$8.33 | −79% |
| George Weston Limited WN | C$98.50 | C$147.70 | +50% |
| Metro Inc MRU | C$88.26 | C$94.01 | +7% |
| Carrefour SA CA | €15.63 | €11.19 | −28% |
| CP ALL Public Company TCPD | 1.81 SGD | 2.35 SGD | +30% |
| BIM Birlesik Magazalar A.S., BIMAS | 418.25 TRY | 267.12 TRY | −36% |
| Kesko Oyj KESKOA | €21.25 | €11.62 | −45% |
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