ASSECO POLAND S.A. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 79.2 PLN | 0.00% |
|
+3.53% | +8.34% |
| Apr. 08 | ASSECO POLAND : 2023 comes in above estimates but weaker yoy as 2022 was affected by FX |  |
| Apr. 08 | ASSECO POLAND : Update of estimates due to expected positive impact of EU funds | |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,283 | 5,652 | 7,175 | 6,026 | 4,985 | 5,401 | - | - |
| Enterprise Value (EV) 1 | 5,874 | 5,740 | 7,544 | 6,026 | 4,985 | 6,796 | 6,245 | 5,401 |
| P/E ratio | 16.4 x | 14.1 x | 15.3 x | 12 x | 11.9 x | 12.2 x | 10.9 x | - |
| Yield | 4.73% | 4.57% | 3.89% | - | - | 4.59% | 5.28% | - |
| Capitalization / Revenue | 0.5 x | 0.46 x | 0.49 x | 0.35 x | 0.3 x | 0.3 x | 0.28 x | 0.24 x |
| EV / Revenue | 0.55 x | 0.47 x | 0.52 x | 0.35 x | 0.3 x | 0.37 x | 0.32 x | 0.24 x |
| EV / EBITDA | 3.64 x | 2.99 x | 3.36 x | 2.23 x | - | 2.6 x | 2.18 x | 1.67 x |
| EV / FCF | 4.97 x | 3.49 x | 5.83 x | - | - | 4.91 x | 4.31 x | 4.04 x |
| FCF Yield | 20.1% | 28.7% | 17.2% | - | - | 20.4% | 23.2% | 24.8% |
| Price to Book | 0.92 x | - | 1.14 x | - | - | 0.93 x | 0.88 x | - |
| Nbr of stocks (in thousands) | 83,000 | 83,000 | 83,000 | 83,000 | 68,191 | 68,191 | - | - |
| Reference price 2 | 63.65 | 68.10 | 86.45 | 72.60 | 73.10 | 79.20 | 79.20 | 79.20 |
| Announcement Date | 3/23/20 | 3/23/21 | 3/1/22 | 4/18/23 | 3/27/24 | - | - | - |
1PLN in Million2PLN
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 10,667 | 12,190 | 14,498 | 17,370 | 16,896 | 18,208 | 19,612 | 22,386 |
| EBITDA 1 | 1,612 | 1,922 | 2,245 | 2,708 | - | 2,610 | 2,865 | 3,240 |
| EBIT 1 | 976.2 | 1,215 | 1,456 | 1,815 | 1,624 | 1,689 | 1,952 | 2,339 |
| Operating Margin | 9.15% | 9.97% | 10.04% | 10.45% | 9.61% | 9.28% | 9.95% | 10.45% |
| Earnings before Tax (EBT) 1 | 888.1 | 1,079 | 1,347 | 1,744 | 1,526 | 1,520 | 1,804 | 2,059 |
| Net income 1 | 322.4 | 401.9 | 468.2 | 502.7 | 482.8 | 494 | 558 | 640 |
| Net margin | 3.02% | 3.3% | 3.23% | 2.89% | 2.86% | 2.71% | 2.85% | 2.86% |
| EPS 2 | 3.880 | 4.840 | 5.640 | 6.060 | 6.120 | 6.500 | 7.275 | - |
| Free Cash Flow 1 | 1,182 | 1,647 | 1,294 | - | - | 1,384 | 1,448 | 1,338 |
| FCF margin | 11.08% | 13.51% | 8.93% | - | - | 7.6% | 7.39% | 5.98% |
| FCF Conversion (EBITDA) | 73.32% | 85.67% | 57.66% | - | - | 53.02% | 50.55% | 41.29% |
| FCF Conversion (Net income) | 366.5% | 409.73% | 276.48% | - | - | 280.06% | 259.59% | 209.06% |
| Dividend per Share 2 | 3.010 | 3.110 | 3.360 | - | - | 3.635 | 4.180 | - |
| Announcement Date | 3/23/20 | 3/23/21 | 3/1/22 | 4/18/23 | 3/27/24 | - | - | - |
1PLN in Million2PLN
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,502 | 4,205 | 4,076 | 4,236 | 4,497 | 4,561 | 4,335 | 4,180 | 4,095 | 4,286 | 4,153 |
| EBITDA 1 | 574.8 | 648.8 | 603.5 | 754.1 | 658.4 | 691.5 | 622.5 | 611.7 | 590.9 | - | 629.5 |
| EBIT 1 | 373 | 411.3 | 390.3 | 539.5 | 422.2 | 463.2 | 397.6 | 394.9 | 373.6 | 458.3 | 416.1 |
| Operating Margin | 10.65% | 9.78% | 9.58% | 12.74% | 9.39% | 10.16% | 9.17% | 9.45% | 9.12% | 10.69% | 10.02% |
| Earnings before Tax (EBT) 1 | 336.3 | 367.9 | 369.1 | 552.7 | 407.1 | 414.7 | 377.4 | 381.8 | 364.4 | 402.3 | 366 |
| Net income 1 | 120.4 | 106 | 107.9 | 140.9 | 127.5 | 126.4 | 108.1 | 122.4 | 112.1 | 138.6 | 116.8 |
| Net margin | 3.44% | 2.52% | 2.65% | 3.33% | 2.84% | 2.77% | 2.49% | 2.93% | 2.74% | 3.23% | 2.81% |
| EPS | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 11/23/21 | 3/1/22 | 5/25/22 | 8/30/22 | 11/23/22 | 4/18/23 | 5/24/23 | 8/31/23 | 10/27/23 | 3/27/24 | - |
1PLN in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 591 | 87.9 | 369 | - | - | 1,395 | 844 | - |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.3668 x | 0.0457 x | 0.1642 x | - | - | 0.5346 x | 0.2946 x | - |
| Free Cash Flow 1 | 1,182 | 1,647 | 1,295 | - | - | 1,384 | 1,449 | 1,338 |
| ROE (net income / shareholders' equity) | 5.62% | 6.81% | 7.6% | - | - | 7.9% | 8.3% | 8.7% |
| ROA (Net income/ Total Assets) | 2.37% | - | 2.65% | - | - | 2.7% | 2.9% | - |
| Assets 1 | 13,622 | - | 17,643 | - | - | 18,296 | 19,241 | - |
| Book Value Per Share 2 | 69.40 | - | 75.70 | - | - | 85.00 | 90.00 | - |
| Cash Flow per Share | 18.10 | - | - | - | - | - | - | - |
| Capex 1 | 320 | 314 | 299 | - | - | 701 | 755 | 860 |
| Capex / Sales | 3% | 2.58% | 2.06% | - | - | 3.85% | 3.85% | 3.84% |
| Announcement Date | 3/23/20 | 3/23/21 | 3/1/22 | 4/18/23 | 3/27/24 | - | - | - |
1PLN in Million2PLN
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
6
Last Close Price
79.2
PLN
Average target price
89.14
PLN
Spread / Average Target
+12.56%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +8.34% | 1.33B | |
| -12.23% | 194B | |
| +0.74% | 166B | |
| +2.19% | 153B | |
| +4.34% | 99.85B | |
| +7.04% | 77.56B | |
| +19.09% | 73.55B | |
| -7.30% | 71B | |
| -20.54% | 52.81B | |
| +0.53% | 47.86B |
- Stock Market
- Equities
- ACP Stock
- Financials Asseco Poland S.A.
