Makarony Polskie Valuation

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

Below Fair Value: MAK (PLN19.8) is trading below our estimate of fair value (PLN460.61)

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

Key Valuation Metric

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

Key metric: As MAK is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MAK. This is calculated by dividing MAK's market cap by their current earnings.
What is MAK's PE Ratio?
PE Ratio	6.3x
Earnings	zł34.52m
Market Cap	zł218.59m

MAK 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	0.6x
Enterprise Value/EBITDA	2.8x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MAK 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	31.9x
ECK Eurosnack	7.2x	n/a	zł89.1m
OTM Zaklady Przemyslu Cukierniczego Otmuchów	16.9x	n/a	zł138.9m
OVO Ovostar Union	2.5x	n/a	zł421.2m
PMP Pamapol	100.9x	n/a	zł93.5m
MAK Makarony Polskie	6.3x	n/a	zł218.6m

Price-To-Earnings vs Peers: MAK is good value based on its Price-To-Earnings Ratio (6.3x) compared to the peer average (31.9x).

Price to Earnings Ratio vs Industry

How does MAK's PE Ratio compare vs other companies in the European Food Industry?

3 Companies	Price / Earnings	Estimated Growth	Market Cap

3 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: MAK is good value based on its Price-To-Earnings Ratio (6.3x) compared to the European Food industry average (13.5x).

Price to Earnings Ratio vs Fair Ratio

What is MAK'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.

MAK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6.3x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MAK'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?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Excellence

zł35.5m

Produces and sells fruit syrups, drinks, functional waters, and dietary supplements in Poland and internationally.

EXC

zł0.23

-26.2%

64.2%

Eskimos

zł4.7m

Produces and sells frozen fruits and vegetables in Poland.

ESK

zł0.23

-9.6%

Agroliga Group

zł28.4m

Produces and sells vegetable oils, cereals, meat products, and dairy breeding herds in Ukraine.

AGL

zł18.50

2.8%

6.9%