Company Valuation: Gielda Papierów Wartosciowych w Warszawie S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,738 1,491 1,784 1,698 2,728 3,645 - -
Change - -14.24% 19.65% -4.82% 60.69% 33.62% - -
Enterprise Value (EV) 1 1,368 1,491 1,563 1,329 2,344 3,092 3,149 3,128
Change - 9.01% 4.82% -14.93% 76.31% 31.93% 1.84% -0.68%
P/E 10.8x 10.3x 11.4x 11.4x 14x 16.5x 15.7x 14.8x
PBR 1.8x - 1.72x 1.59x - 3.05x 2.87x 2.72x
PEG - -1x 1.46x -2.36x 0.4x 1.3x 2.75x 2.53x
Capitalization / Revenue 4.27x 3.83x 4.01x 3.65x 4.94x 5.7x 5.73x 5.51x
EV / Revenue 3.36x 3.83x 3.51x 2.86x 4.25x 4.83x 4.95x 4.73x
EV / EBITDA 6.41x 8.9x 9.75x 10.6x 10.8x 12.3x 11.1x 10.4x
EV / EBIT 7.68x 11.5x 12.2x 14.2x 13x 13.7x 14.5x 13.6x
EV / FCF 141x - 21.4x 14.6x 18.5x 12.8x 19.3x 18.5x
FCF Yield 0.71% - 4.67% 6.87% 5.42% 7.83% 5.19% 5.4%
Dividend per Share 2 2.5 - - 3 - 3.533 3.893 4.267
Rate of return 6.04% - - 7.42% - 4.07% 4.48% 4.91%
EPS 2 3.84 3.45 3.72 3.54 4.65 5.248 5.548 5.872
Distribution rate 65.1% - - 84.7% - 67.3% 70.2% 72.7%
Net sales 1 407.6 389.3 444.9 464.8 551.9 640 636.2 661.4
EBITDA 1 213.4 167.4 160.2 125 216.5 250.7 283.9 299.6
EBIT 1 178.2 130 128 93.5 179.8 225 217.7 230.3
Net income 1 161.2 145 156 148.7 195 210 232.9 246.3
Net Debt 1 -370.8 - -221.1 -368.3 -384.3 -553 -496 -517.6
Reference price 2 41.42 35.52 42.50 40.45 65.00 86.85 86.85 86.85
Nbr of stocks (in thousands) 41,972 41,972 41,972 41,972 41,972 41,972 - -
Announcement Date 18/03/22 12/04/23 10/04/24 25/03/25 23/03/26 - - -
1PLN in Million2PLN
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.98x13.38x18.73x4.61% 94.79B
29.08x8.02x14.67x0.54% 21.73B
68.99x32.65x50.26x0.45% 17.96B
26.99x10.03x16.86x3.02% 14.25B
57.28x33.04x45x0.91% 7.78B
19.43x7.08x11.76x3.99% 7B
40.14x14.51x40.97x1.58% 4.46B
15.56x-1112.16x-2393.92x - 3.82B
20.75x13.06x14.07x4.1% 3.24B
Average 33.35x -108.93x -242.40x 2.4% 19.45B
Weighted average by Cap. 29.86x -9.50x -29.96x 3.24%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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