Lubawa stock: fair value
LBW.WAThe fair value of Lubawa under our model is $5.25, the price is 51% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Significantly undervaluedIn our model the price counts as cheap below $3.75 and expensive above $8.74 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $4.69 (cash-flow model) and $5.80 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is below both.
Calculated with a cost of equity of 10.7%. At 11.7% the fair value would be $4.85, at 9.7% it would be $5.83.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (31.3).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 5.6%. Discounted at 10.7% (government bond yield 5.6% plus beta 0.97 times a risk premium of 5.3%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $4.69 per share: free cash flow for the next ten years, each year discounted to today at 10.7%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 10.7%) |
|---|---|---|---|---|
| 2026 | $24.21M | extrapolated at 28.6% | 0.9030 | $21.86M |
| 2027 | $29.45M | extrapolated at 21.7% | 0.8153 | $24.01M |
| 2028 | $34.41M | extrapolated at 16.8% | 0.7362 | $25.33M |
| 2029 | $39.04M | extrapolated at 13.5% | 0.6648 | $25.95M |
| 2030 | $43.36M | extrapolated at 11.1% | 0.6003 | $26.03M |
| 2031 | $47.45M | extrapolated at 9.4% | 0.5420 | $25.72M |
| 2032 | $51.37M | extrapolated at 8.3% | 0.4894 | $25.14M |
| 2033 | $55.2M | extrapolated at 7.4% | 0.4419 | $24.4M |
| 2034 | $59M | extrapolated at 6.9% | 0.3990 | $23.54M |
| 2035 | $62.83M | extrapolated at 6.5% | 0.3603 | $22.64M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $244.63M |
| Terminal value: cash flow 2035 × (1 + 5.6%) / (10.7% − 5.6%) | $1.28B |
| Present value of terminal value (× 0.3603) | $460.74M |
| Equity value (sum plus present value of terminal value) | $705.37M |
| Shares (diluted) | 150.27M |
| Value per share (equity value divided by shares) | $4.69 |
| Earnings per share, last twelve months | $0.19 |
| × 31.3 (industry P/E) | $5.80 |
| Fair value (average of both parts) | $5.25 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = PLN 3.9742)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 8 May 2026)
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.