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 4,193 - -
Change - -14.24% 19.65% -4.82% 60.69% 53.69% - -
Enterprise Value (EV) 1 1,368 1,491 1,563 1,329 2,344 3,640 3,697 3,675
Change - 9.01% 4.82% -14.93% 76.31% 55.3% 1.56% -0.58%
P/E 10.8x 10.3x 11.4x 11.4x 14x 16.9x 16.9x 17x
PBR 1.8x - 1.72x 1.59x - 3.5x 3.3x 3.13x
PEG - -1x 1.46x -2.36x 0.4x 0.6x 124.43x -20.02x
Capitalization / Revenue 4.27x 3.83x 4.01x 3.65x 4.94x 6.51x 6.36x 6.29x
EV / Revenue 3.36x 3.83x 3.51x 2.86x 4.25x 5.65x 5.6x 5.51x
EV / EBITDA 6.41x 8.9x 9.75x 10.6x 10.8x 12.5x 12.3x 12.4x
EV / EBIT 7.68x 11.5x 12.2x 14.2x 13x 15.8x 15.6x 16x
EV / FCF 141x - 21.4x 14.6x 18.5x 15x 22.6x 21.7x
FCF Yield 0.71% - 4.67% 6.87% 5.42% 6.65% 4.42% 4.6%
Dividend per Share 2 2.5 - - 3 - 3.9 3.893 4.267
Rate of return 6.04% - - 7.42% - 3.9% 3.9% 4.27%
EPS 2 3.84 3.45 3.72 3.54 4.65 5.905 5.913 5.863
Distribution rate 65.1% - - 84.7% - 66% 65.8% 72.8%
Net sales 1 407.6 389.3 444.9 464.8 551.9 644.5 659.7 666.9
EBITDA 1 213.4 167.4 160.2 125 216.5 290.1 301.4 296.7
EBIT 1 178.2 130 128 93.5 179.8 230.2 237.7 230
Net income 1 161.2 145 156 148.7 195 240.9 248.2 245.9
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 99.90 99.90 99.90
Nbr of stocks (in thousands) 41,972 41,972 41,972 41,972 41,972 41,972 - -
Announcement Date 3/18/22 A 4/12/23 A 4/10/24 A 3/25/25 A 3/23/26 A - - -
1PLN in Million2PLN
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.25x13.49x18.7x4.39% 94.62B
21.02x9.28x13.82x1.41% 84.29B
23.4x14.09x17.6x3.81% 60.53B
22.92x8.55x14.25x1.64% 58.3B
26.61x4.88x9.71x2.06% 51.49B
25.39x9.9x16.53x1.33% 50.49B
29.18x8.05x14.78x0.57% 21.57B
21.79x8.45x13.21x2.32% 18.32B
Average 24.07x 9.59x 14.82x 2.19% 54.95B
Weighted average by Cap. 23.46x 10.21x 15.30x 2.48%

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