View Future GrowthBras 過去の業績過去 基準チェック /26Brasの収益は年間平均-33.4%の割合で減少していますが、 Professional Services業界の収益は年間 増加しています。収益は年間8.6% 13.8%割合で 増加しています。 Brasの自己資本利益率は20.8%であり、純利益率は27.4%です。主要情報-33.37%収益成長率-33.37%EPS成長率Professional Services 業界の成長23.49%収益成長率13.82%株主資本利益率20.80%ネット・マージン27.44%次回の業績アップデート10 Aug 2026最近の業績更新Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: zł0 (vs zł0.002 loss in 3Q 2024)Third quarter 2025 results: EPS: zł0 (improved from zł0.002 loss in 3Q 2024). Revenue: zł1.09m (down 47% from 3Q 2024). Net income: zł17.5k (up zł196.5k from 3Q 2024). Profit margin: 1.6% (up from net loss in 3Q 2024).Reported Earnings • May 19First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: zł1.06m (down 52% from 1Q 2024). Net income: zł104.7k (up zł463.7k from 1Q 2024). Profit margin: 9.9% (up from net loss in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 26Full year 2024 earnings released: zł0.007 loss per share (vs zł0.015 loss in FY 2023)Full year 2024 results: zł0.007 loss per share (improved from zł0.015 loss in FY 2023). Revenue: zł8.58m (down 26% from FY 2023). Net loss: zł601.4k (loss narrowed 56% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance.Reported Earnings • Aug 19Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: zł2.31m (up 202% from 2Q 2023). Net loss: zł226.0k (down zł251.1k from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance.Reported Earnings • May 20First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: zł2.20m (up 91% from 1Q 2023). Net loss: zł359.0k (down 312% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings.お知らせ • Feb 14Bras S.A. to Report Fiscal Year 2023 Results on Mar 20, 2024Bras S.A. announced that they will report fiscal year 2023 results on Mar 20, 2024すべての更新を表示Recent updatesお知らせ • Jun 03Bras S.A., Annual General Meeting, Jun 26, 2026Bras S.A., Annual General Meeting, Jun 26, 2026, at 15:00 Central European Standard Time.New Risk • Jun 01New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. 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 Risks Less than 1 year of cash runway based on free cash flow trend (-zł4.3m free cash flow). Earnings have declined by 61% per year over the past 5 years. Market cap is less than US$10m (zł20.6m market cap, or US$5.68m). Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Revenue is less than US$5m (zł5.2m revenue, or US$1.4m).分析記事 • Feb 05Is Bras (WSE:BSA) Using Too Much Debt?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: zł0 (vs zł0.002 loss in 3Q 2024)Third quarter 2025 results: EPS: zł0 (improved from zł0.002 loss in 3Q 2024). Revenue: zł1.09m (down 47% from 3Q 2024). Net income: zł17.5k (up zł196.5k from 3Q 2024). Profit margin: 1.6% (up from net loss in 3Q 2024).分析記事 • Oct 02Bras (WSE:BSA) Seems To Be Using A Lot Of DebtThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...New Risk • Sep 16New major risk - Revenue and earnings growthEarnings have declined by 64% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł1.9m free cash flow). Earnings have declined by 64% per year over the past 5 years. Market cap is less than US$10m (zł18.8m market cap, or US$5.26m). Minor Risk Revenue is less than US$5m (zł6.2m revenue, or US$1.7m).New Risk • May 19New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -zł2.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł2.9m free cash flow). Earnings have declined by 61% per year over the past 5 years. Market cap is less than US$10m (zł19.5m market cap, or US$5.15m). Minor Risk Revenue is less than US$5m (zł7.4m revenue, or US$2.0m).Reported Earnings • May 19First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: zł1.06m (down 52% from 1Q 2024). Net income: zł104.7k (up zł463.7k from 1Q 2024). Profit margin: 9.9% (up from net loss in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance.Reported Earnings • Mar 26Full year 2024 earnings released: zł0.007 loss per share (vs zł0.015 loss in FY 2023)Full year 2024 results: zł0.007 loss per share (improved from zł0.015 loss in FY 2023). Revenue: zł8.58m (down 26% from FY 2023). Net loss: zł601.4k (loss narrowed 56% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance.分析記事 • Mar 25Does Bras (WSE:BSA) Have A Healthy Balance Sheet?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...分析記事 • Dec 04Does Bras (WSE:BSA) Have A Healthy Balance Sheet?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Reported Earnings • Aug 19Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: zł2.31m (up 202% from 2Q 2023). Net loss: zł226.0k (down zł251.1k from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance.お知らせ • Jun 05Bras S.A., Annual General Meeting, Jun 26, 2024Bras S.A., Annual General Meeting, Jun 26, 2024.Reported Earnings • May 20First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: zł2.20m (up 91% from 1Q 2023). Net loss: zł359.0k (down 312% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings.New Risk • Apr 16New major risk - Revenue and earnings growthEarnings have declined by 5.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 5.5% per year over the past 5 years. Market cap is less than US$10m (zł18.5m market cap, or US$4.56m). Minor Risk Revenue is less than US$5m (zł12m revenue, or US$2.9m).分析記事 • Mar 28Is Bras (WSE:BSA) Using Too Much Debt?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...お知らせ • Feb 14Bras S.A. to Report Fiscal Year 2023 Results on Mar 20, 2024Bras S.A. announced that they will report fiscal year 2023 results on Mar 20, 2024分析記事 • Feb 13Investor Optimism Abounds Bras S.A. (WSE:BSA) But Growth Is LackingWhen close to half the companies in Poland have price-to-earnings ratios (or "P/E's") below 12x, you may consider Bras...お知らせ • Feb 02+ 4 more updatesBras S.A. to Report Fiscal Year 2023 Results on May 28, 2024Bras S.A. announced that they will report fiscal year 2023 results on May 28, 2024New Risk • Dec 28New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Shares are highly illiquid. Market cap is less than US$10m (zł29.1m market cap, or US$7.45m). Minor Risk Revenue is less than US$5m (zł4.3m revenue, or US$1.1m).お知らせ • Oct 31Bras S.A. to Report Fiscal Year 2022 Results on Nov 20, 2023Bras S.A. announced that they will report fiscal year 2022 results on Nov 20, 2023お知らせ • May 31Bras S.A. to Report Fiscal Year 2022 Results on Jul 31, 2023Bras S.A. announced that they will report fiscal year 2022 results on Jul 31, 2023お知らせ • Feb 03+ 4 more updatesBras S.A. to Report Q1, 2022 Results on May 15, 2023Bras S.A. announced that they will report Q1, 2022 results on May 15, 2023お知らせ • Nov 05Bras S.A. to Report Fiscal Year 2021 Results on Dec 31, 2022Bras S.A. announced that they will report fiscal year 2021 results on Dec 31, 2022お知らせ • Aug 03Bras S.A. to Report Fiscal Year 2021 Final Results on Sep 30, 2022Bras S.A. announced that they will report fiscal year 2021 final results on Sep 30, 2022お知らせ • Jul 02Bras S.A. to Report Fiscal Year 2022 Results on Jul 31, 2022Bras S.A. announced that they will report fiscal year 2022 results on Jul 31, 2022Reported Earnings • May 20First quarter 2022 earnings releasedFirst quarter 2022 results: Revenue: zł838.5k (up 21% from 1Q 2021). Net income: zł8.7k (down 95% from 1Q 2021). Profit margin: 1.0% (down from 23% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 102% per year, which means it is tracking significantly ahead of earnings growth.分析記事 • May 09Is Bras (WSE:BSA) Using Too Much Debt?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...分析記事 • Feb 25Here's Why I Think Bras (WSE:BSA) Is An Interesting StockIt's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...Reported Earnings • Feb 18Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: zł0.005 (up from zł0.003 in FY 2020). Revenue: zł2.73m (up 13% from FY 2020). Net income: zł441.9k (up 148% from FY 2020). Profit margin: 16% (up from 7.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 99% per year, which means it is well ahead of earnings.お知らせ • Feb 02+ 4 more updatesBras S.A. to Report Fiscal Year 2021 Results on May 31, 2022Bras S.A. announced that they will report fiscal year 2021 results on May 31, 2022Buying Opportunity • Jan 17Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 14%. The fair value is estimated to be zł0.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 23% per annum over the last 3 years. The company has become profitable over the last year.Reported Earnings • Nov 19Third quarter 2021 earnings releasedThe company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: zł662.6k (down 4.5% from 3Q 2020). Net income: zł47.7k (up zł276.5k from 3Q 2020). Profit margin: 7.2% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 135% per year, which means it is well ahead of earnings.分析記事 • Oct 28Does Bras (WSE:BSA) Deserve A Spot On Your Watchlist?For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...Reported Earnings • Aug 19Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł661.1k (up 34% from 2Q 2020). Net income: zł108.6k (up zł139.9k from 2Q 2020). Profit margin: 16% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 158% per year, which means it is well ahead of earnings.分析記事 • May 31Does Bras (WSE:BSA) Have A Healthy Balance Sheet?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Is New 90 Day High Low • Mar 02New 90-day high: zł0.81The company is up 216% from its price of zł0.26 on 02 December 2020. The Polish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 20% over the same period.Reported Earnings • Feb 20Full year 2020 earnings released: EPS zł0.003 (vs zł0.004 in FY 2019)The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: zł2.46m (down 11% from FY 2019). Net income: zł177.2k (down 11% from FY 2019). Profit margin: 7.2% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 159% per year, which means it is well ahead of earnings.分析記事 • Feb 14Bras (WSE:BSA) Seems To Use Debt Quite SensiblyDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...お知らせ • Feb 04An unknown buyer acquired 9.89% stake in Bras S.A. (WSE:BSA).An unknown buyer acquired 9.89% stake in Bras S.A. (WSE:BSA) on February 1, 2021. An unknown buyer completed the acquisition of 9.89% stake in Bras S.A. (WSE:BSA) on February 1, 2021.Is New 90 Day High Low • Jan 29New 90-day high: zł0.48The company is up 79% from its price of zł0.27 on 30 October 2020. The Polish market is up 27% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 50% over the same period.お知らせ • Jan 14+ 4 more updatesBras S.A. to Report Fiscal Year 2021 Results on May 31, 2021Bras S.A. announced that they will report fiscal year 2021 results on May 31, 2021Is New 90 Day High Low • Jan 12New 90-day high: zł0.37The company is up 15% from its price of zł0.32 on 14 October 2020. The Polish market is up 19% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Professional Services industry, which is also up 15% over the same period.Is New 90 Day High Low • Nov 05New 90-day low: zł0.26The company is down 66% from its price of zł0.76 on 06 August 2020. The Polish market is down 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is down 32% over the same period.お知らせ • Jun 19Bras S.A. announced that it expects to receive PLN 7.6 million in fundingBras S.A. (WSE:BSA) announced a private placement of 38,000,000 series E1 shares at a par price of PLN 0.2 per share for gross proceeds of PLN 7,600,000 on June 10, 2020. Before the closing of the transaction, the share capital of the company is PLN 10,170,240 divided into 50,851,200 shares, which includes 446,890 series A1 shares of par value PLN 0.2 per share, 127,000 series B1 shares of par value of PLN 0.2 per share, 61,750 series C1 shares of par value of PLN 0.2 per share, and 50,215,560 series D1 shares of par value of PLN 0.2 per share. Post transaction, the share capital of the company will increase to PLN 17,770,240 divided into 88,851,200 shares, which will include 38,000,000 series E1 shares of par value of PLN 0.2 per share. The transaction has been approved by the supervisory board of the company, and is expected to close by June 24, 2020. On June 17, 2020, the management board of the company approved the transaction.収支内訳Bras の稼ぎ方とお金の使い方。LTMベースの直近の報告された収益に基づく。収益と収入の歴史WSE:BSA 収益、費用、利益 ( )PLN Millions日付収益収益G+A経費研究開発費31 Mar 26411031 Dec 25411030 Sep 255-22030 Jun 256-23031 Mar 257-34031 Dec 249-36030 Sep 2415-311030 Jun 2414-210031 Mar 2413-29031 Dec 2312-18030 Sep 231107030 Jun 231107031 Mar 231107031 Dec 2211-17030 Sep 22301030 Jun 22301031 Mar 22301031 Dec 21301030 Sep 21311030 Jun 21301031 Mar 21201031 Dec 20201030 Sep 20301030 Jun 20301031 Mar 20301031 Dec 19301030 Sep 19301030 Jun 19301031 Mar 19301031 Dec 18301030 Sep 18301030 Jun 18301031 Mar 18301031 Dec 17301030 Sep 17301030 Jun 173-11031 Mar 170-10031 Dec 163-11030 Sep 162-11030 Jun 16201031 Mar 16100031 Dec 15000030 Sep 150-600質の高い収益: BSAにはPLN618.3K } という大きな 一回限りの 利益があり、過去 12 か月の財務実績が31st March, 2026に影響を及ぼしています。利益率の向上: BSA過去に利益を上げました。フリー・キャッシュフローと収益の比較過去の収益成長分析収益動向: BSA過去 5 年間で収益を上げており、収益は年間-33.4%増加しています。成長の加速: BSAは昨年収益を上げたため、収益成長率を 5 年間の平均と比較することは困難です。収益対業界: BSA昨年収益を上げたため、昨年の収益成長をProfessional Services業界 ( 13.5% ) と比較することは困難です。株主資本利益率高いROE: BSAの 自己資本利益率 ( 20.8% ) は 高い ですが、この指標は負債レベルが高いために歪んでいます。総資産利益率使用総資本利益率過去の好業績企業の発掘7D1Y7D1Y7D1YCommercial-services 、過去の業績が好調な企業。View Financial Health企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/07/15 20:38終値2026/07/15 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレークこのレポートを生成するために使用した分析モデルの詳細は、当社のGitHubページでご覧いただけます。また、レポートの活用方法に関するガイドやYouTubeのチュートリアルも用意しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Bras S.A. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。0
Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: zł0 (vs zł0.002 loss in 3Q 2024)Third quarter 2025 results: EPS: zł0 (improved from zł0.002 loss in 3Q 2024). Revenue: zł1.09m (down 47% from 3Q 2024). Net income: zł17.5k (up zł196.5k from 3Q 2024). Profit margin: 1.6% (up from net loss in 3Q 2024).
Reported Earnings • May 19First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: zł1.06m (down 52% from 1Q 2024). Net income: zł104.7k (up zł463.7k from 1Q 2024). Profit margin: 9.9% (up from net loss in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 26Full year 2024 earnings released: zł0.007 loss per share (vs zł0.015 loss in FY 2023)Full year 2024 results: zł0.007 loss per share (improved from zł0.015 loss in FY 2023). Revenue: zł8.58m (down 26% from FY 2023). Net loss: zł601.4k (loss narrowed 56% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance.
Reported Earnings • Aug 19Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: zł2.31m (up 202% from 2Q 2023). Net loss: zł226.0k (down zł251.1k from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance.
Reported Earnings • May 20First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: zł2.20m (up 91% from 1Q 2023). Net loss: zł359.0k (down 312% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 14Bras S.A. to Report Fiscal Year 2023 Results on Mar 20, 2024Bras S.A. announced that they will report fiscal year 2023 results on Mar 20, 2024
お知らせ • Jun 03Bras S.A., Annual General Meeting, Jun 26, 2026Bras S.A., Annual General Meeting, Jun 26, 2026, at 15:00 Central European Standard Time.
New Risk • Jun 01New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. 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 Risks Less than 1 year of cash runway based on free cash flow trend (-zł4.3m free cash flow). Earnings have declined by 61% per year over the past 5 years. Market cap is less than US$10m (zł20.6m market cap, or US$5.68m). Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Revenue is less than US$5m (zł5.2m revenue, or US$1.4m).
分析記事 • Feb 05Is Bras (WSE:BSA) Using Too Much Debt?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Reported Earnings • Nov 18Third quarter 2025 earnings released: EPS: zł0 (vs zł0.002 loss in 3Q 2024)Third quarter 2025 results: EPS: zł0 (improved from zł0.002 loss in 3Q 2024). Revenue: zł1.09m (down 47% from 3Q 2024). Net income: zł17.5k (up zł196.5k from 3Q 2024). Profit margin: 1.6% (up from net loss in 3Q 2024).
分析記事 • Oct 02Bras (WSE:BSA) Seems To Be Using A Lot Of DebtThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
New Risk • Sep 16New major risk - Revenue and earnings growthEarnings have declined by 64% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł1.9m free cash flow). Earnings have declined by 64% per year over the past 5 years. Market cap is less than US$10m (zł18.8m market cap, or US$5.26m). Minor Risk Revenue is less than US$5m (zł6.2m revenue, or US$1.7m).
New Risk • May 19New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -zł2.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-zł2.9m free cash flow). Earnings have declined by 61% per year over the past 5 years. Market cap is less than US$10m (zł19.5m market cap, or US$5.15m). Minor Risk Revenue is less than US$5m (zł7.4m revenue, or US$2.0m).
Reported Earnings • May 19First quarter 2025 earnings releasedFirst quarter 2025 results: Revenue: zł1.06m (down 52% from 1Q 2024). Net income: zł104.7k (up zł463.7k from 1Q 2024). Profit margin: 9.9% (up from net loss in 1Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 91 percentage points per year, which is a significant difference in performance.
Reported Earnings • Mar 26Full year 2024 earnings released: zł0.007 loss per share (vs zł0.015 loss in FY 2023)Full year 2024 results: zł0.007 loss per share (improved from zł0.015 loss in FY 2023). Revenue: zł8.58m (down 26% from FY 2023). Net loss: zł601.4k (loss narrowed 56% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance.
分析記事 • Mar 25Does Bras (WSE:BSA) Have A Healthy Balance Sheet?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
分析記事 • Dec 04Does Bras (WSE:BSA) Have A Healthy Balance Sheet?The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Reported Earnings • Aug 19Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: zł2.31m (up 202% from 2Q 2023). Net loss: zł226.0k (down zł251.1k from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance.
お知らせ • Jun 05Bras S.A., Annual General Meeting, Jun 26, 2024Bras S.A., Annual General Meeting, Jun 26, 2024.
Reported Earnings • May 20First quarter 2024 earnings releasedFirst quarter 2024 results: Revenue: zł2.20m (up 91% from 1Q 2023). Net loss: zł359.0k (down 312% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 31% per year, which means it has not declined as severely as earnings.
New Risk • Apr 16New major risk - Revenue and earnings growthEarnings have declined by 5.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 5.5% per year over the past 5 years. Market cap is less than US$10m (zł18.5m market cap, or US$4.56m). Minor Risk Revenue is less than US$5m (zł12m revenue, or US$2.9m).
分析記事 • Mar 28Is Bras (WSE:BSA) Using Too Much Debt?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
お知らせ • Feb 14Bras S.A. to Report Fiscal Year 2023 Results on Mar 20, 2024Bras S.A. announced that they will report fiscal year 2023 results on Mar 20, 2024
分析記事 • Feb 13Investor Optimism Abounds Bras S.A. (WSE:BSA) But Growth Is LackingWhen close to half the companies in Poland have price-to-earnings ratios (or "P/E's") below 12x, you may consider Bras...
お知らせ • Feb 02+ 4 more updatesBras S.A. to Report Fiscal Year 2023 Results on May 28, 2024Bras S.A. announced that they will report fiscal year 2023 results on May 28, 2024
New Risk • Dec 28New major risk - Financial positionThe company's interest payments are not well covered by earnings. Net interest cover: 2.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Shares are highly illiquid. Market cap is less than US$10m (zł29.1m market cap, or US$7.45m). Minor Risk Revenue is less than US$5m (zł4.3m revenue, or US$1.1m).
お知らせ • Oct 31Bras S.A. to Report Fiscal Year 2022 Results on Nov 20, 2023Bras S.A. announced that they will report fiscal year 2022 results on Nov 20, 2023
お知らせ • May 31Bras S.A. to Report Fiscal Year 2022 Results on Jul 31, 2023Bras S.A. announced that they will report fiscal year 2022 results on Jul 31, 2023
お知らせ • Feb 03+ 4 more updatesBras S.A. to Report Q1, 2022 Results on May 15, 2023Bras S.A. announced that they will report Q1, 2022 results on May 15, 2023
お知らせ • Nov 05Bras S.A. to Report Fiscal Year 2021 Results on Dec 31, 2022Bras S.A. announced that they will report fiscal year 2021 results on Dec 31, 2022
お知らせ • Aug 03Bras S.A. to Report Fiscal Year 2021 Final Results on Sep 30, 2022Bras S.A. announced that they will report fiscal year 2021 final results on Sep 30, 2022
お知らせ • Jul 02Bras S.A. to Report Fiscal Year 2022 Results on Jul 31, 2022Bras S.A. announced that they will report fiscal year 2022 results on Jul 31, 2022
Reported Earnings • May 20First quarter 2022 earnings releasedFirst quarter 2022 results: Revenue: zł838.5k (up 21% from 1Q 2021). Net income: zł8.7k (down 95% from 1Q 2021). Profit margin: 1.0% (down from 23% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 102% per year, which means it is tracking significantly ahead of earnings growth.
分析記事 • May 09Is Bras (WSE:BSA) Using Too Much Debt?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
分析記事 • Feb 25Here's Why I Think Bras (WSE:BSA) Is An Interesting StockIt's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...
Reported Earnings • Feb 18Full year 2021 earnings: Revenues and EPS in line with analyst expectationsFull year 2021 results: EPS: zł0.005 (up from zł0.003 in FY 2020). Revenue: zł2.73m (up 13% from FY 2020). Net income: zł441.9k (up 148% from FY 2020). Profit margin: 16% (up from 7.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 99% per year, which means it is well ahead of earnings.
お知らせ • Feb 02+ 4 more updatesBras S.A. to Report Fiscal Year 2021 Results on May 31, 2022Bras S.A. announced that they will report fiscal year 2021 results on May 31, 2022
Buying Opportunity • Jan 17Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 14%. The fair value is estimated to be zł0.53, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 23% per annum over the last 3 years. The company has become profitable over the last year.
Reported Earnings • Nov 19Third quarter 2021 earnings releasedThe company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: zł662.6k (down 4.5% from 3Q 2020). Net income: zł47.7k (up zł276.5k from 3Q 2020). Profit margin: 7.2% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 135% per year, which means it is well ahead of earnings.
分析記事 • Oct 28Does Bras (WSE:BSA) Deserve A Spot On Your Watchlist?For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Reported Earnings • Aug 19Second quarter 2021 earnings releasedThe company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł661.1k (up 34% from 2Q 2020). Net income: zł108.6k (up zł139.9k from 2Q 2020). Profit margin: 16% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 158% per year, which means it is well ahead of earnings.
分析記事 • May 31Does Bras (WSE:BSA) Have A Healthy Balance Sheet?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Is New 90 Day High Low • Mar 02New 90-day high: zł0.81The company is up 216% from its price of zł0.26 on 02 December 2020. The Polish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 20% over the same period.
Reported Earnings • Feb 20Full year 2020 earnings released: EPS zł0.003 (vs zł0.004 in FY 2019)The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: zł2.46m (down 11% from FY 2019). Net income: zł177.2k (down 11% from FY 2019). Profit margin: 7.2% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 159% per year, which means it is well ahead of earnings.
分析記事 • Feb 14Bras (WSE:BSA) Seems To Use Debt Quite SensiblyDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
お知らせ • Feb 04An unknown buyer acquired 9.89% stake in Bras S.A. (WSE:BSA).An unknown buyer acquired 9.89% stake in Bras S.A. (WSE:BSA) on February 1, 2021. An unknown buyer completed the acquisition of 9.89% stake in Bras S.A. (WSE:BSA) on February 1, 2021.
Is New 90 Day High Low • Jan 29New 90-day high: zł0.48The company is up 79% from its price of zł0.27 on 30 October 2020. The Polish market is up 27% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Professional Services industry, which is up 50% over the same period.
お知らせ • Jan 14+ 4 more updatesBras S.A. to Report Fiscal Year 2021 Results on May 31, 2021Bras S.A. announced that they will report fiscal year 2021 results on May 31, 2021
Is New 90 Day High Low • Jan 12New 90-day high: zł0.37The company is up 15% from its price of zł0.32 on 14 October 2020. The Polish market is up 19% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Professional Services industry, which is also up 15% over the same period.
Is New 90 Day High Low • Nov 05New 90-day low: zł0.26The company is down 66% from its price of zł0.76 on 06 August 2020. The Polish market is down 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Professional Services industry, which is down 32% over the same period.
お知らせ • Jun 19Bras S.A. announced that it expects to receive PLN 7.6 million in fundingBras S.A. (WSE:BSA) announced a private placement of 38,000,000 series E1 shares at a par price of PLN 0.2 per share for gross proceeds of PLN 7,600,000 on June 10, 2020. Before the closing of the transaction, the share capital of the company is PLN 10,170,240 divided into 50,851,200 shares, which includes 446,890 series A1 shares of par value PLN 0.2 per share, 127,000 series B1 shares of par value of PLN 0.2 per share, 61,750 series C1 shares of par value of PLN 0.2 per share, and 50,215,560 series D1 shares of par value of PLN 0.2 per share. Post transaction, the share capital of the company will increase to PLN 17,770,240 divided into 88,851,200 shares, which will include 38,000,000 series E1 shares of par value of PLN 0.2 per share. The transaction has been approved by the supervisory board of the company, and is expected to close by June 24, 2020. On June 17, 2020, the management board of the company approved the transaction.