Grupa Pracuj Valuation

Q: What is the Fair Price of GPP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

GPP (PLN54.5) is trading below our estimate of [[fair value]] (PLN103.38)

Is GPP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of GPP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GPP (PLN54.5) is trading below our estimate of fair value (PLN103.38)

Significantly Below Fair Value: GPP is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GPP?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for GPP. This is calculated by dividing GPP's market cap by their current preferred multiple.
What is GPP's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	zł3.72b

GPP key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	5x
Enterprise Value/EBITDA	12.6x
PEG Ratio	1.4x

Price to Earnings Ratio vs Peers

How does GPP's PE Ratio compare to its peers?

The above table shows the PE ratio for GPP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	13.8x
BFT Benefit Systems	17.1x	12.9%	zł7.9b
MMC MM Conferences	9x	n/a	zł12.2m
ABK Abak	15.2x	n/a	zł11.6m
MBR Mo-BRUK	13.9x	21.3%	zł1.0b
GPP Grupa Pracuj	21.3x	15.6%	zł3.7b

Price-To-Earnings vs Peers: GPP is expensive based on its Price-To-Earnings Ratio (21.3x) compared to the peer average (13.8x).

Price to Earnings Ratio vs Industry

How does GPP's PE Ratio compare vs other companies in the European Professional Services Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	12.1%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	12.1%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: GPP is expensive based on its Price-To-Earnings Ratio (21.3x) compared to the European Professional Services industry average (19.2x).

Price to Earnings Ratio vs Fair Ratio

What is GPP's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GPP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	21.3x
Fair PE Ratio	16.5x

Price-To-Earnings vs Fair Ratio: GPP is expensive based on its Price-To-Earnings Ratio (21.3x) compared to the estimated Fair Price-To-Earnings Ratio (16.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GPP forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	zł54.50	zł66.40 +21.8%	13.8%	zł78.00	zł48.40	n/a	6
Aug ’25	zł58.10	zł66.73 +14.9%	14.0%	zł78.00	zł48.40	n/a	6
Jul ’25	zł61.20	zł68.40 +11.8%	15.3%	zł79.00	zł48.40	n/a	6
Jun ’25	zł61.00	zł67.40 +10.5%	14.1%	zł79.00	zł48.40	n/a	6
May ’25	zł61.80	zł66.17 +7.1%	15.1%	zł80.00	zł48.40	n/a	6
Apr ’25	zł67.40	zł64.17 -4.8%	12.4%	zł72.00	zł48.40	n/a	6
Mar ’25	zł64.70	zł64.17 -0.8%	12.4%	zł72.00	zł48.40	n/a	6
Feb ’25	zł62.00	zł64.17 +3.5%	12.4%	zł72.00	zł48.40	n/a	6
Jan ’25	zł62.00	zł64.17 +3.5%	12.4%	zł72.00	zł48.40	n/a	6
Dec ’24	zł57.50	zł66.67 +15.9%	16.4%	zł84.00	zł48.40	n/a	6
Nov ’24	zł59.00	zł66.55 +12.8%	16.0%	zł84.00	zł48.40	n/a	6
Oct ’24	zł57.00	zł66.18 +16.1%	16.4%	zł84.00	zł48.40	n/a	6
Sep ’24	zł68.00	zł66.18 -2.7%	16.4%	zł84.00	zł48.40	n/a	6
Aug ’24	zł60.00	zł64.27 +7.1%	16.9%	zł84.00	zł48.40	zł58.10	6
Jul ’24	zł56.20	zł62.54 +11.3%	17.2%	zł84.00	zł48.40	zł61.20	7
Jun ’24	zł60.20	zł62.54 +3.9%	17.2%	zł84.00	zł48.40	zł61.00	7
May ’24	zł53.80	zł58.07 +7.9%	19.6%	zł83.00	zł45.20	zł61.80	7
Apr ’24	zł58.00	zł58.64 +1.1%	20.6%	zł85.00	zł45.20	zł67.40	7
Mar ’24	zł54.90	zł58.64 +6.8%	20.6%	zł85.00	zł45.20	zł64.70	7
Feb ’24	zł52.00	zł57.92 +11.4%	22.3%	zł85.00	zł45.20	zł62.00	6
Jan ’24	zł40.90	zł57.92 +41.6%	22.3%	zł85.00	zł45.20	zł62.00	6
Dec ’23	zł44.25	zł61.58 +39.2%	23.9%	zł88.00	zł45.20	zł57.50	6
Nov ’23	zł45.40	zł62.15 +36.9%	23.1%	zł88.00	zł47.00	zł59.00	6
Oct ’23	zł38.00	zł68.44 +80.1%	23.4%	zł96.00	zł48.40	zł57.00	5
Sep ’23	zł48.00	zł68.44 +42.6%	23.4%	zł96.00	zł48.40	zł68.00	5
Aug ’23	zł58.00	zł68.44 +18.0%	23.4%	zł96.00	zł48.40	zł60.00	5

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.