<p>Severe material and social deprivation (SMSD), which, according to Eurostat’s definition, is monitored in the EU and EFTA countries, represents a non-monetary dimension of poverty and social exclusion. It is in the interest of society to eliminate the risk of this negative social phenomenon, for which it is necessary to know the factors that are associated with the risk and to identify the most vulnerable groups of the population. There are several studies that, like ours, use a model approach in this issue, but ours is based on marginal means that are associated with binomial logit models. Due to the unbalanced design of the input EU-SILC database and the investigation of multiple effects, it is crucial to prioritize marginal means over arithmetic means. Marginal means allow the quantification of the net effect of individual factors (while fixing other factors), which is in contrast to the arithmetic mean, which does not take other effects into account and, therefore, may not correctly quantify the response of the target variable to a specific factor. Our research provides a comparative analysis of SMSD in the V4 countries in 2022 when the consequences of the crises, like the health, energy, and inflation crisis faced by Europe at the beginning of the 2020s, have already manifested themselves. Through the estimated proportion of population facing SMSD, the article quantifies the riskiness of individual population groups and identifies population groups on which the V4 countries should focus social policies in the fight against SMSD.</p>