Voxel S.A.

WSE:VOX Stock Report

Market Cap: zł1.4b

Voxel Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Discounted Cash Flow
Simply Wall St
zł309.99
Fair Value
54.7% undervalued intrinsic discount
2
Number of Analysts

Below Fair Value: VOX (PLN140.5) is trading below our estimate of fair value (PLN309.99)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for VOX. This is calculated by dividing VOX's market cap by their current earnings.
What is VOX's PE Ratio?
PE Ratio16.6x
Earningszł89.02m
Market Capzł1.42b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for VOX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average42.9x
NEU NEUCA
23.3x21.8%zł3.8b
EMC EMC Instytut Medyczny
40.4xn/azł483.1m
ENE Centrum Medyczne ENEL-MED
85.1xn/azł622.2m
SNT Synektik Spólka Akcyjna
22.8x14.4%zł2.0b
VOX Voxel
16.6x12.3%zł1.4b

Price-To-Earnings vs Peers: VOX is good value based on its Price-To-Earnings Ratio (16.6x) compared to the peer average (42.9x).

Price to Earnings Ratio vs Industry

How does VOX's PE Ratio compare vs other companies in the European Healthcare Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
VOX 16.6xIndustry Avg. 19.7xNo. of Companies6PE01020304050+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: VOX is good value based on its Price-To-Earnings Ratio (16.6x) compared to the European Healthcare industry average (19.6x).

Price to Earnings Ratio vs Fair Ratio

What is VOX'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.

VOX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.6x
Fair PE Ratio16.9x

Price-To-Earnings vs Fair Ratio: VOX is good value based on its Price-To-Earnings Ratio (16.6x) compared to the estimated Fair Price-To-Earnings Ratio (16.9x).

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 VOX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł140.50
zł140.70
+0.1%
3.1%zł145.00zł136.40n/a2
Jan ’26zł126.00
zł130.40
+3.5%
11.2%zł145.00zł115.80n/a2
Dec ’25zł113.00
zł130.40
+15.4%
11.2%zł145.00zł115.80n/a2
Nov ’25zł109.50
zł118.65
+8.4%
2.4%zł121.50zł115.80n/a2
Oct ’25zł112.50
zł118.65
+5.5%
2.4%zł121.50zł115.80n/a2
Sep ’25zł99.00
zł118.65
+19.8%
2.4%zł121.50zł115.80n/a2
Aug ’25zł90.00
zł118.65
+31.8%
2.4%zł121.50zł115.80n/a2
Jul ’25zł95.80
zł118.65
+23.9%
2.4%zł121.50zł115.80n/a2
Jun ’25zł93.20
zł109.75
+17.8%
10.7%zł121.50zł98.00n/a2
Apr ’25zł93.00
zł79.00
-15.1%
24.1%zł98.00zł60.00n/a2
Mar ’25zł93.60
zł79.00
-15.6%
24.1%zł98.00zł60.00n/a2
Feb ’25zł82.20
zł66.90
-18.6%
10.3%zł73.80zł60.00n/a2
Jan ’25zł78.60
zł66.90
-14.9%
10.3%zł73.80zł60.00zł126.002
Dec ’24zł72.00
zł66.90
-7.1%
10.3%zł73.80zł60.00zł113.002
Nov ’24zł59.20
zł66.90
+13.0%
10.3%zł73.80zł60.00zł109.502
Oct ’24zł54.20
zł66.90
+23.4%
10.3%zł73.80zł60.00zł112.502
Sep ’24zł58.00
zł66.90
+15.3%
10.3%zł73.80zł60.00zł99.002
Analyst Price Target
Consensus Narrative from 2 Analysts
zł140.70
Fair Value
0.1% undervalued intrinsic discount
2
Number of Analysts

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/22 05:49
End of Day Share Price 2025/01/22 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Voxel S.A. is covered by 3 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Adrian KowollikEast Value Research GmbH
Lukasz KosiarskiIpopema Securities S.A.
Dariusz GorskiSantander Brokerage Poland