The paper sets off from discussing two key elements of fundamental analysis: the selection of best companies within a sector in terms of share performance and valuation of shares. The authors then proceed to pick five best performing banks quoted on the Warsaw Stock Exchange by applying a synthetic evaluation index called taxonomic measure of investment attractiveness.

The shares in the best-scoring bank, Bank Przemysłowo-Handlowy SA, have been estimated with several methods. The results have been compared against the market price of the bank's shares. The comparison seems to suggest that the fundamental analysis method provides a fairly accurate projection of a share price, provided the market is not experiencing a slump.

It has to be emphasised, that to assess the value of shares with the help of the method presented and on the basis of companies' financial reports and other public sources, it is necessary to adopt many simplifying assumptions.