PlayWay stock: fair value
PLW.WAThe fair value of PlayWay under our model is $117.52, the price is 48% 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 $97.93 and expensive above $146.90 (uncertainty low, based on the price swings of the past year).
The two parts of the fair value come to $102.13 (cash-flow model) and $132.91 (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 12.6%. At 13.6% the fair value would be $111.14, at 11.6% it would be $126.00.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (44.6).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 5.6%. Discounted at 12.6% (government bond yield 5.6% plus beta 1.32 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 $102.13 per share: free cash flow for the next ten years, each year discounted to today at 12.6%, 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 12.6%) |
|---|---|---|---|---|
| 2026 | $45.87M | extrapolated at 7.7% | 0.8880 | $40.73M |
| 2027 | $49.1M | extrapolated at 7.0% | 0.7885 | $38.71M |
| 2028 | $52.33M | extrapolated at 6.6% | 0.7001 | $36.64M |
| 2029 | $55.62M | extrapolated at 6.3% | 0.6217 | $34.58M |
| 2030 | $59M | extrapolated at 6.1% | 0.5520 | $32.57M |
| 2031 | $62.49M | extrapolated at 5.9% | 0.4902 | $30.63M |
| 2032 | $66.12M | extrapolated at 5.8% | 0.4352 | $28.78M |
| 2033 | $69.91M | extrapolated at 5.7% | 0.3865 | $27.02M |
| 2034 | $73.88M | extrapolated at 5.7% | 0.3432 | $25.35M |
| 2035 | $78.05M | extrapolated at 5.7% | 0.3047 | $23.78M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $318.78M |
| Terminal value: cash flow 2035 × (1 + 5.6%) / (12.6% − 5.6%) | $1.17B |
| Present value of terminal value (× 0.3047) | $355.67M |
| Equity value (sum plus present value of terminal value) | $674.45M |
| Shares (diluted) | 6.60M |
| Value per share (equity value divided by shares) | $102.13 |
| Earnings per share, last twelve months | $2.98 |
| × 44.6 (industry P/E) | $132.91 |
| Fair value (average of both parts) | $117.52 |
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 28 Feb 2018)
- 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.