RBW Stock Analysis: Rainbow Tours | WAR

Package Holidays, Hotel Stays, Air Travel, Guided Tours

Total Rating 47

Safety 42

Buy Signal 0.01

Travel Services
Industry Rotation: +21.6

Market Cap: 474M
Avg Turnover: 3.52M

Risk 3d forecast

Volatility40.0%

VaR 5^th Pctl6.22%

VaR vs Median-5.63%

Reward TTM

Sharpe Ratio0.23

Rel. Str. IBD24.4

Rel. Str. Peer Group24.1 pctl

Character TTM

Beta0.743

Beta Downside0.300

Hurst Exponent0.543

Choppyness51.2%

Drawdowns 3y

Max DD27.30%

CAGR/Max DD2.08

CAGR/Mean DD5.88

EPS (Earnings per Share)

EPS CAGR: 17.87%
EPS Trend: 68.9%

Qual. Beats: 0

Revenue

Rev. CAGR: 16.10%
Rev. Trend: 97.9%

Last SUE: 0.95
Qual. Beats: 1

Warnings

Beneish M-Score Likely Earnings Manipulation

Below Sma 200d

Tailwinds

Confidence

Seasonality

Not enough history

Description: RBW Rainbow Tours

Rainbow Tours S.A. is a Poland-based tour operator founded in 1990 and headquartered in Łódź. It operates through its Sale of Tourist Events, Hotel, and Others segments.

Tour operators typically package and sell travel services such as accommodation and transport. Rainbow Tours is classified in the consumer discretionary sector and the Hotels, Resorts & Cruise Lines industry.

Headlines to Watch Out For

Polish consumer spending and bookings drive package-tour revenue growth
Zloty weakness and fuel costs pressure tour operator margins
Competition for popular destinations constrains holiday pricing power

Piotroski VR-10 (Strict) 4.5

Net Income: 239.6m TTM > 0 and > 6% of Revenue
FCF/TA: 0.14 > 0.02 and ΔFCF/TA -10.38 > 1.0
NWC/Revenue: 0.31% < 20% (prev 0.66%; Δ -0.35% < -1%)
CFO/TA 0.15 > 3% & CFO 303.0m > Net Income 239.6m
Net Debt (-453.5m) to EBITDA (323.9m): -1.40 < 3
Current Ratio: 1.01 > 1.5 & < 3
Outstanding Shares: last quarter (14.6m) vs 12m ago -0.04% < -2%
Gross Margin: 15.97% > 18% (prev 17.41%; Δ -1.44% > 0.5%)
Asset Turnover: 266.0% > 50% (prev 265.6%; Δ 0.32% > 0%)
Interest Coverage Ratio: 16.72 > 6 (EBIT TTM 293.3m / Interest Expense TTM 17.5m)

Altman Z'' 2.25

A: 0.01 (Total Current Assets 1.42b - Total Current Liabilities 1.40b) / Total Assets 1.96b
B: 0.23 (Retained Earnings 455.5m / Total Assets 1.96b)
C: 0.16 (EBIT TTM 293.3m / Avg Total Assets 1.78b)
D: 0.32 (Book Value of Equity 481.2m / Total Liabilities 1.49b)
Altman-Z'' = 2.25 = BBB

Beneish M -0.92

DSRI: 1.26 (Receivables 102.1m/72.9m, Revenue 4.74b/4.26b)
GMI: 1.09 (GM 17.41% / 15.97%)
AQI: 3.93 (AQ_t 0.07 / AQ_t-1 0.02)
SGI: 1.11 (Revenue 4.74b / 4.26b)
TATA: -0.03 (NI 239.6m - CFO 303.0m) / TA 1.96b)
Beneish M = -0.92 (Cap -4..+1) = D

What is the price of RBW shares?

As of October 20, 2026, the stock is trading at PLN 122.90 with a total of 22,637 shares traded. Over the past week, the price has changed by -2.77%, over one month by -12.90%, over three months by -8.62% and over the past year by +5.31%.

Current recommended Stop Loss: 118.30 (which is 3.7% or 1.2 ATR below the current price).

Is RBW a buy, sell or hold?

Rainbow Tours has no consensus analysts rating.

Rainbow Tours (RBW) - Fundamental Data Overview as of 18 October 2026

Market Cap USD = 474.2m (1.84b PLN * 0.25720000267029 PLN.USD)
P/E Trailing = 7.9386
P/E Forward = 9.4429
P/S = 0.3886
P/B = 3.0913
Revenue TTM = 4.74b PLN
EBIT TTM = 293.3m PLN
EBITDA TTM = 323.9m PLN
Long Term Debt = 50.4m PLN (estimated: total debt 88.9m - short term 38.5m)
Short Term Debt = 38.5m PLN (from shortTermDebt, last quarter)
Debt = 150.9m PLN (from shortLongTermDebtTotal, last quarter) + Leases 62.0m
Net Debt = -453.5m PLN (calculated: Debt 150.9m - CCE 604.4m)
Enterprise Value = 1.39b PLN (1.84b + Debt 150.9m - CCE 604.4m)
Interest Coverage Ratio = 16.72 (Ebit TTM 293.3m / Interest Expense TTM 17.5m)
EV/FCF = 5.00x (Enterprise Value 1.39b / FCF TTM 278.2m)
FCF Yield = 20.01% (FCF TTM 278.2m / Enterprise Value 1.39b)
FCF Margin = 5.86% (FCF TTM 278.2m / Revenue TTM 4.74b)
Net Margin = 5.05% (Net Income TTM 239.6m / Revenue TTM 4.74b)
Gross Margin = 15.97% ((Revenue TTM 4.74b - Cost of Revenue TTM 3.99b) / Revenue TTM)
Gross Margin QoQ = 11.93% (prev 16.68%)
Tobins Q-Ratio = 0.71 (Enterprise Value 1.39b / Total Assets 1.96b)
Interest Expense / Debt = 11.63% (Interest Expense 17.5m / Debt 150.9m)
Taxrate = 21.30% (62.9m / 295.1m)
NOPAT = 230.8m (EBIT 293.3m * (1 - 21.30%))
Current Ratio = 1.01 (Total Current Assets 1.42b / Total Current Liabilities 1.40b)
Debt / Equity = 0.31 (Debt 150.9m / totalStockholderEquity, last quarter 481.2m)
Debt / EBITDA = -1.40 (Net Debt -453.5m / EBITDA 323.9m)
Debt / FCF = -1.63 (Net Debt -453.5m / FCF TTM 278.2m)
Total Stockholder Equity = 540.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 13.43% (Net Income 239.6m / Total Assets 1.96b)
RoE = 44.30% (Net Income TTM 239.6m / Total Stockholder Equity 540.9m)
RoCE = 49.60% (EBIT 293.3m / Capital Employed (Equity 540.9m + L.T.Debt 50.4m))
RoIC = 63.92% (NOPAT 230.8m / Invested Capital 361.1m)
WACC = 8.22% (E(1.84b)/V(1.99b) * Re(8.14%) + D(150.9m)/V(1.99b) * Rd(11.63%) * (1-Tc(0.21)))
Discount Rate = 8.14% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 31.77 | Cagr: 0.01%
[DCF] Terminal Value 73.10% ; FCFF base≈324.3m ; Y1≈284.4m ; Y5≈229.8m
[DCF] Fair Price = 284.6 (EV 3.69b - Net Debt -453.5m = Equity 4.14b / Shares 14.6m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 68.88 | EPS CAGR: 17.87% | SUE: N/A | # QB: 0
Revenue Correlation: 97.88 | Revenue CAGR: 16.10% | SUE: 0.95 | # QB: 1
EPS current Year (2026-12-31): EPS=17.14 | Chg30d=+7.29% | Revisions=+25% | GrowthEPS=-3.2% | GrowthRev=+11.3%
EPS next Year (2027-12-31): EPS=16.14 | Chg30d=+7.31% | Revisions=-25% | GrowthEPS=-5.8% | GrowthRev=+9.1%
[Analyst] Revisions Ratio: +0% (up=1, down=1)