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 3,628 - -
Change - -14.24% 19.65% -4.82% 60.69% 33% - -
Enterprise Value (EV) 1 1,368 1,491 1,563 1,329 2,344 3,075 3,132 3,111
Change - 9.01% 4.82% -14.93% 76.31% 31.21% 1.85% -0.69%
P/E 10.8x 10.3x 11.4x 11.4x 14x 16.5x 15.6x 14.7x
PBR 1.8x - 1.72x 1.59x - 3.03x 2.86x 2.71x
PEG - -1x 1.46x -2.36x 0.4x 1.3x 2.73x 2.51x
Capitalization / Revenue 4.27x 3.83x 4.01x 3.65x 4.94x 5.67x 5.7x 5.49x
EV / Revenue 3.36x 3.83x 3.51x 2.86x 4.25x 4.81x 4.92x 4.7x
EV / EBITDA 6.41x 8.9x 9.75x 10.6x 10.8x 12.3x 11x 10.4x
EV / EBIT 7.68x 11.5x 12.2x 14.2x 13x 13.7x 14.4x 13.5x
EV / FCF 141x - 21.4x 14.6x 18.5x 12.7x 19.2x 18.4x
FCF Yield 0.71% - 4.67% 6.87% 5.42% 7.87% 5.22% 5.43%
Dividend per Share 2 2.5 - - 3 - 3.533 3.893 4.267
Rate of return 6.04% - - 7.42% - 4.09% 4.5% 4.94%
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 86.45 86.45 86.45
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.55x4.83x12.33x4.07% 100Cr
21.98x13.38x18.73x4.61% 9.48TCr
29.08x8.02x14.67x0.54% 2.17TCr
68.99x32.65x50.26x0.45% 1.8TCr
26.99x10.03x16.86x3.02% 1.42TCr
57.28x33.04x45x0.91% 778.2Cr
19.43x7.08x11.76x3.99% 699.62Cr
40.14x14.51x40.97x1.58% 446.06Cr
15.56x-1112.16x-2393.92x - 381.91Cr
20.75x13.06x14.07x4.1% 324.34Cr
Average 31.67x -97.56x -216.93x 2.59% 1.76TCr
Weighted average by Cap. 29.79x -9.42x -29.72x 3.25%

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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  4. Valuation Gielda Papierów Wartosciowych w Warszawie S.A.
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