Orlen Valuation

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

Below Fair Value: PKN (PLN55.4) is trading below our estimate of fair value (PLN193.98)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for PKN. This is calculated by dividing PKN's market cap by their current preferred multiple.
What is PKN's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	zł64.32b

PKN 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	0.2x
Enterprise Value/EBITDA	1.8x
PEG Ratio	1x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PKN 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	11.8x
BPCL Bharat Petroleum	7.6x	-12.7%	₹1.5t
5020 ENEOS Holdings	7.3x	-2.2%	JP¥2.4t
NESTE Neste Oyj	13.5x	21.6%	€12.9b
6505 Formosa Petrochemical	18.7x	17.0%	NT$498.2b
PKN Orlen	8x	8.2%	zł64.3b

Price-To-Earnings vs Peers: PKN is good value based on its Price-To-Earnings Ratio (8x) compared to the peer average (11.8x).

Price to Earnings Ratio vs Industry

How does PKN's PE Ratio compare vs other companies in the European Oil and Gas Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	0.7%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	0.7%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: PKN is good value based on its Price-To-Earnings Ratio (8x) compared to the European Oil and Gas industry average (8.1x).

Price to Earnings Ratio vs Fair Ratio

What is PKN'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.

PKN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	8x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate PKN's Price-To-Earnings Fair Ratio for valuation analysis.

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 PKN 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	zł55.40	zł78.27 +41.3%	16.1%	zł105.37	zł64.00	n/a	10
Oct ’25	zł57.03	zł79.37 +39.2%	14.8%	zł105.37	zł65.90	n/a	10
Sep ’25	zł64.34	zł78.24 +21.6%	11.8%	zł94.74	zł65.90	n/a	10
Aug ’25	zł63.38	zł78.24 +23.5%	11.8%	zł94.74	zł65.90	n/a	10
Jul ’25	zł67.89	zł78.94 +16.3%	12.0%	zł94.74	zł65.90	n/a	9
Jun ’25	zł63.57	zł78.94 +24.2%	12.0%	zł94.74	zł65.90	n/a	9
May ’25	zł66.44	zł80.44 +21.1%	11.0%	zł94.74	zł71.50	n/a	8
Apr ’25	zł65.08	zł80.44 +23.6%	11.0%	zł94.74	zł71.50	n/a	8
Mar ’25	zł63.14	zł79.15 +25.4%	13.0%	zł95.30	zł67.60	n/a	8
Feb ’25	zł65.55	zł79.15 +20.7%	13.0%	zł95.30	zł67.60	n/a	8
Jan ’25	zł65.50	zł79.78 +21.8%	17.7%	zł105.00	zł64.00	n/a	8
Dec ’24	zł60.60	zł80.15 +32.3%	17.5%	zł105.00	zł64.00	n/a	8
Nov ’24	zł66.50	zł80.85 +21.6%	18.0%	zł105.00	zł64.00	n/a	9
Oct ’24	zł58.70	zł75.77 +29.1%	15.8%	zł95.50	zł60.00	zł57.03	9
Sep ’24	zł63.56	zł77.13 +21.4%	15.0%	zł95.50	zł60.00	zł64.34	9
Aug ’24	zł71.10	zł78.76 +10.8%	15.6%	zł100.10	zł61.00	zł63.38	9
Jul ’24	zł64.41	zł78.13 +21.3%	13.8%	zł100.00	zł61.00	zł67.89	10
Jun ’24	zł62.38	zł77.39 +24.1%	13.3%	zł100.00	zł61.00	zł63.57	11
May ’24	zł63.42	zł77.03 +21.5%	14.2%	zł100.00	zł57.00	zł66.44	11
Apr ’24	zł58.24	zł76.62 +31.6%	14.9%	zł100.00	zł57.00	zł65.08	11
Mar ’24	zł66.28	zł80.51 +21.5%	14.0%	zł100.00	zł60.00	zł63.14	10
Feb ’24	zł62.88	zł80.51 +28.0%	14.0%	zł100.00	zł60.00	zł65.55	10
Jan ’24	zł64.24	zł83.71 +30.3%	11.2%	zł100.00	zł67.00	zł65.50	9
Dec ’23	zł68.24	zł83.26 +22.0%	14.8%	zł100.00	zł62.00	zł60.60	9
Nov ’23	zł54.92	zł82.44 +50.1%	14.7%	zł100.00	zł62.00	zł66.50	10
Oct ’23	zł53.54	zł88.20 +64.7%	7.6%	zł97.00	zł75.00	zł58.70	8

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.