Dino Polska Valuation

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

DNP (PLN333.9) is trading below our estimate of [[fair value]] (PLN478.23)

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

Valuation Score

4/6

Valuation Score 4/6

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 DNP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: DNP (PLN333.9) is trading below our estimate of fair value (PLN478.23)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for DNP. This is calculated by dividing DNP's market cap by their current preferred multiple.
What is DNP's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	zł32.74b

DNP 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	1.2x
Enterprise Value/EBITDA	15.3x
PEG Ratio	1.3x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for DNP 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	35.6x
EUR Eurocash	71.9x	29.1%	zł1.3b
SHP Shoprite Holdings	23.7x	11.7%	R155.4b
AMRT Sumber Alfaria Trijaya	38.9x	19.0%	Rp138.3t
MGNT Magnit	7.9x	27.1%	₽435.4b
DNP Dino Polska	23.1x	17.4%	zł32.7b

Price-To-Earnings vs Peers: DNP is good value based on its Price-To-Earnings Ratio (23.1x) compared to the peer average (44.8x).

Price to Earnings Ratio vs Industry

How does DNP's PE Ratio compare vs other companies in the European Consumer Retailing Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	9.9%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	9.9%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: DNP is expensive based on its Price-To-Earnings Ratio (23.1x) compared to the European Consumer Retailing industry average (15.5x).

Price to Earnings Ratio vs Fair Ratio

What is DNP'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.

DNP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	23.1x
Fair PE Ratio	47.1x

Price-To-Earnings vs Fair Ratio: DNP is good value based on its Price-To-Earnings Ratio (23.1x) compared to the estimated Fair Price-To-Earnings Ratio (47.1x).

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 DNP 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	zł333.90	zł396.81 +18.8%	14.8%	zł527.00	zł299.00	n/a	14
Oct ’25	zł342.00	zł399.31 +16.8%	15.3%	zł527.00	zł299.00	n/a	14
Sep ’25	zł322.50	zł409.09 +26.9%	14.6%	zł527.00	zł299.00	n/a	14
Aug ’25	zł344.40	zł430.97 +25.1%	12.5%	zł527.00	zł340.00	n/a	14
Jul ’25	zł398.20	zł441.43 +10.9%	12.0%	zł527.00	zł340.00	n/a	14
Jun ’25	zł392.10	zł435.46 +11.1%	12.0%	zł527.00	zł340.00	n/a	13
May ’25	zł389.90	zł436.54 +12.0%	13.0%	zł548.00	zł350.00	n/a	12
Apr ’25	zł387.70	zł442.80 +14.2%	13.2%	zł548.00	zł350.00	n/a	12
Mar ’25	zł461.70	zł458.47 -0.7%	13.0%	zł548.00	zł367.00	n/a	12
Feb ’25	zł447.10	zł448.30 +0.3%	13.6%	zł548.00	zł367.00	n/a	12
Jan ’25	zł460.70	zł450.55 -2.2%	14.0%	zł554.00	zł367.00	n/a	12
Dec ’24	zł456.50	zł440.88 -3.4%	15.6%	zł554.00	zł322.00	n/a	12
Nov ’24	zł398.50	zł424.63 +6.6%	14.6%	zł528.00	zł322.00	n/a	12
Oct ’24	zł355.00	zł427.28 +20.4%	13.9%	zł528.00	zł322.00	zł342.00	13
Sep ’24	zł377.70	zł431.44 +14.2%	14.5%	zł535.00	zł322.00	zł322.50	13
Aug ’24	zł449.10	zł443.74 -1.2%	14.6%	zł535.00	zł322.00	zł344.40	13
Jul ’24	zł474.80	zł430.13 -9.4%	14.4%	zł537.00	zł322.00	zł398.20	13
Jun ’24	zł442.00	zł424.21 -4.0%	13.1%	zł537.00	zł322.00	zł392.10	13
May ’24	zł423.40	zł408.59 -3.5%	10.7%	zł482.00	zł322.00	zł389.90	13
Apr ’24	zł391.10	zł392.23 +0.3%	10.8%	zł453.00	zł322.00	zł387.70	13
Mar ’24	zł373.40	zł389.23 +4.2%	9.7%	zł450.00	zł322.00	zł461.70	13
Feb ’24	zł380.40	zł378.54 -0.5%	12.6%	zł450.00	zł303.00	zł447.10	13
Jan ’24	zł375.30	zł373.15 -0.6%	11.5%	zł434.00	zł303.00	zł460.70	13
Dec ’23	zł365.10	zł373.15 +2.2%	11.5%	zł434.00	zł303.00	zł456.50	13
Nov ’23	zł312.20	zł361.00 +15.6%	11.8%	zł420.00	zł303.00	zł398.50	13
Oct ’23	zł302.00	zł364.98 +20.9%	11.9%	zł420.00	zł303.00	zł355.00	12

Analyst Forecast: Target price is less than 20% higher than the current share price.