Valuation Update With 7 Day Price Move • May 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł45.00, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 10x in the Electronic industry in Poland. Total returns to shareholders of 173% over the past three years. Reported Earnings • Nov 19
Third quarter 2025 earnings released: EPS: zł1.12 (vs zł1.43 in 3Q 2024) Third quarter 2025 results: EPS: zł1.12 (down from zł1.43 in 3Q 2024). Revenue: zł112.4m (down 19% from 3Q 2024). Net income: zł1.95m (down 21% from 3Q 2024). Profit margin: 1.7% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Annonce • Nov 13
S4E S.A. to Report Q3, 2025 Results on Nov 14, 2025 S4E S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to zł40.60, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 10x in the Electronic industry in Poland. Total returns to shareholders of 263% over the past three years. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to zł35.20, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 9x in the Electronic industry in Poland. Total returns to shareholders of 21% over the past year. Reported Earnings • Aug 19
Second quarter 2025 earnings released: EPS: zł1.03 (vs zł1.27 in 2Q 2024) Second quarter 2025 results: EPS: zł1.03 (down from zł1.27 in 2Q 2024). Revenue: zł104.0m (down 3.9% from 2Q 2024). Net income: zł1.80m (down 19% from 2Q 2024). Profit margin: 1.7% (down from 2.0% in 2Q 2024). The decrease in margin was driven by lower revenue. Reported Earnings • May 18
First quarter 2025 earnings released: EPS: zł0.79 (vs zł0.07 loss in 1Q 2024) First quarter 2025 results: EPS: zł0.79 (up from zł0.07 loss in 1Q 2024). Revenue: zł84.0m (up 12% from 1Q 2024). Net income: zł1.36m (up zł1.49m from 1Q 2024). Profit margin: 1.6% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to zł33.00, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 9x in the Electronic industry in Poland. Total returns to shareholders of 455% over the past three years. Buy Or Sell Opportunity • Mar 24
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 76% to zł39.80. The fair value is estimated to be zł32.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Reported Earnings • Mar 24
Full year 2024 earnings released Full year 2024 results: Revenue: zł459.7m (up 1.4% from FY 2023). Net income: zł7.05m (down 12% from FY 2023). Profit margin: 1.5% (down from 1.8% in FY 2023). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł35.40, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 9x in the Electronic industry in Poland. Total returns to shareholders of 490% over the past three years. New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Market cap is less than US$100m (zł53.2m market cap, or US$13.1m). Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł27.80, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 10x in the Electronic industry in Poland. Total returns to shareholders of 245% over the past three years. New Risk • Jan 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 7.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.1% average weekly change). Minor Risk Market cap is less than US$100m (zł40.6m market cap, or US$9.76m). Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to zł28.20, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 9x in the Electronic industry in Poland. Total returns to shareholders of 219% over the past three years. New Risk • Dec 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: zł39.6m (US$9.64m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (zł39.6m market cap, or US$9.64m). Minor Risk Share price has been volatile over the past 3 months (8.0% average weekly change). Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to zł26.00, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 8x in the Electronic industry in Poland. Total returns to shareholders of 294% over the past three years. Reported Earnings • Aug 18
Second quarter 2024 earnings released: EPS: zł1.27 (vs zł2.16 in 2Q 2023) Second quarter 2024 results: EPS: zł1.27 (down from zł2.16 in 2Q 2023). Revenue: zł108.2m (up 20% from 2Q 2023). Net income: zł2.21m (down 41% from 2Q 2023). Profit margin: 2.0% (down from 4.2% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł32.80, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 10x in the Electronic industry in Poland. Total returns to shareholders of 447% over the past three years. Annonce • Jun 05
S4E S.A., Annual General Meeting, Jun 28, 2024 S4E S.A., Annual General Meeting, Jun 28, 2024. Reported Earnings • May 19
First quarter 2024 earnings released: zł0.07 loss per share (vs zł0.28 profit in 1Q 2023) First quarter 2024 results: zł0.07 loss per share (down from zł0.28 profit in 1Q 2023). Revenue: zł75.3m (down 14% from 1Q 2023). Net loss: zł122.0k (down 125% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has increased by 80% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to zł33.00, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 11x in the Electronic industry in Poland. Total returns to shareholders of 479% over the past three years. Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to zł35.00, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 10x in the Electronic industry in Poland. Total returns to shareholders of 465% over the past three years. Reported Earnings • Mar 25
Full year 2023 earnings released: EPS: zł4.61 (vs zł3.47 in FY 2022) Full year 2023 results: EPS: zł4.61 (up from zł3.47 in FY 2022). Revenue: zł453.4m (up 23% from FY 2022). Net income: zł8.00m (up 33% from FY 2022). Profit margin: 1.8% (up from 1.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has increased by 94% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to zł34.00, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 9x in the Electronic industry in Poland. Total returns to shareholders of 754% over the past three years. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to zł41.00, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 9x in the Electronic industry in Poland. Total returns to shareholders of 1,223% over the past three years. Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: zł0.81 (vs zł0.76 in 3Q 2022) Third quarter 2023 results: EPS: zł0.81 (up from zł0.76 in 3Q 2022). Revenue: zł113.6m (up 53% from 3Q 2022). Net income: zł1.40m (up 5.7% from 3Q 2022). Profit margin: 1.2% (down from 1.8% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has increased by 95% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to zł29.00, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 8x in the Electronic industry in Poland. Total returns to shareholders of 663% over the past three years. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 40% After last week's 40% share price gain to zł36.40, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 7x in the Electronic industry in Poland. Total returns to shareholders of 884% over the past three years. Valuation Update With 7 Day Price Move • Sep 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł24.00, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 7x in the Electronic industry in Poland. Total returns to shareholders of 515% over the past three years. New Risk • Sep 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.6% Last year net profit margin: 2.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Market cap is less than US$10m (zł37.5m market cap, or US$8.79m). Minor Risk Profit margins are more than 30% lower than last year (1.6% net profit margin). Reported Earnings • Aug 16
Second quarter 2023 earnings released: EPS: zł2.16 (vs zł0.82 in 2Q 2022) Second quarter 2023 results: EPS: zł2.16 (up from zł0.82 in 2Q 2022). Revenue: zł90.3m (up 23% from 2Q 2022). Net income: zł3.75m (up 165% from 2Q 2022). Profit margin: 4.2% (up from 1.9% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 60% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 46% After last week's 46% share price gain to zł19.00, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 8x in the Electronic industry in Poland. Total returns to shareholders of 296% over the past three years. Annonce • Jun 13
S4E S.A., Annual General Meeting, Jun 30, 2023 S4E S.A., Annual General Meeting, Jun 30, 2023, at 12:00 Central European Standard Time. Valuation Update With 7 Day Price Move • May 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to zł16.40, the stock trades at a trailing P/E ratio of 4.7x. Average trailing P/E is 7x in the Electronic industry in Poland. Total returns to shareholders of 413% over the past three years. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł16.90, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 7x in the Electronic industry in Poland. Total returns to shareholders of 333% over the past three years. Reported Earnings • Mar 21
Full year 2022 earnings released: EPS: zł3.47 (vs zł2.36 in FY 2021) Full year 2022 results: EPS: zł3.47 (up from zł2.36 in FY 2021). Revenue: zł367.8m (up 48% from FY 2021). Net income: zł6.02m (up 47% from FY 2021). Profit margin: 1.6% (down from 1.7% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improved over the past week After last week's 24% share price gain to zł13.00, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 6x in the Electronic industry in Poland. Total returns to shareholders of 155% over the past three years. Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorated over the past week After last week's 16% share price decline to zł11.50, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 5x in the Electronic industry in Poland. Total returns to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 18% share price gain to zł13.90, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 5x in the Electronic industry in Poland. Total returns to shareholders of 124% over the past three years. Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: zł0.76 (vs zł0.18 in 3Q 2021) Third quarter 2022 results: EPS: zł0.76 (up from zł0.18 in 3Q 2021). Revenue: zł74.4m (up 48% from 3Q 2021). Net income: zł1.33m (up 334% from 3Q 2021). Profit margin: 1.8% (up from 0.6% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment improved over the past week After last week's 33% share price gain to zł11.20, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 5x in the Electronic industry in Poland. Total returns to shareholders of 96% over the past three years. Annonce • Oct 12
S4E S.A., Annual General Meeting, Oct 26, 2022 S4E S.A., Annual General Meeting, Oct 26, 2022, at 12:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 19% share price decline to zł6.25, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 9x in the Electronic industry in Poland. Total loss to shareholders of 26% over the past three years. Buying Opportunity • Jan 24
Now 31% undervalued Over the last 90 days, the stock is up 35%. The fair value is estimated to be zł10.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 41% over the last year. Earnings per share has grown by 69% over the last year. Reported Earnings • Nov 20
Third quarter 2020 earnings released: EPS zł0.12 (vs zł0.07 in 3Q 2019) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: zł28.7m (down 31% from 3Q 2019). Net income: zł208.0k (up 69% from 3Q 2019). Profit margin: 0.7% (up from 0.3% in 3Q 2019). Is New 90 Day High Low • Feb 05
New 90-day high: zł3.98 The company is up 8.0% from its price of zł3.70 on 05 November 2020. The Polish market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 14% over the same period. Is New 90 Day High Low • Dec 28
New 90-day low: zł2.98 The company is down 25% from its price of zł4.00 on 29 September 2020. The Polish market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 6.0% over the same period. Reported Earnings • Nov 22
Third quarter 2020 earnings released: EPS zł0.12 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: zł28.7m (down 31% from 3Q 2019). Net income: zł208.0k (up 69% from 3Q 2019). Profit margin: 0.7% (up from 0.3% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 10
New 90-day low: zł3.36 The company is down 33% from its price of zł5.00 on 12 August 2020. The Polish market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is down 4.0% over the same period.