View Future GrowthPassus 過去の業績過去 基準チェック /36Passusは、平均年間24.2%の収益成長を遂げていますが、 IT業界の収益は、年間 成長しています。収益は、平均年間14.6% 18.3%収益成長率で 成長しています。 Passusの自己資本利益率は43.1%であり、純利益率は8.3%です。主要情報24.22%収益成長率24.61%EPS成長率IT 業界の成長15.41%収益成長率18.33%株主資本利益率43.06%ネット・マージン8.35%次回の業績アップデート03 Sep 2026最近の業績更新分析記事 • Nov 28We Think Passus' (WSE:PAS) Profit Is Only A Baseline For What They Can AchievePassus S.A.'s ( WSE:PAS ) strong earnings report was rewarded with a positive stock price move. We did some digging and...Reported Earnings • Nov 21Third quarter 2025 earnings released: EPS: zł3.19 (vs zł1.51 in 3Q 2024)Third quarter 2025 results: EPS: zł3.19 (up from zł1.51 in 3Q 2024). Revenue: zł36.6m (up 46% from 3Q 2024). Net income: zł4.94m (up 60% from 3Q 2024). Profit margin: 14% (up from 12% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth.お知らせ • Nov 15Passus S.A. to Report Q3, 2025 Results on Nov 20, 2025Passus S.A. announced that they will report Q3, 2025 results on Nov 20, 2025Reported Earnings • Sep 11Second quarter 2025 earnings released: zł0.82 loss per share (vs zł0.65 loss in 2Q 2024)Second quarter 2025 results: zł0.82 loss per share. Revenue: zł14.7m (down 1.4% from 2Q 2024). Net loss: zł180.0k (loss narrowed 86% from 2Q 2024).お知らせ • Aug 21Passus S.A. to Report First Half, 2025 Results on Sep 10, 2025Passus S.A. announced that they will report first half, 2025 results on Sep 10, 2025Reported Earnings • May 28First quarter 2025 earnings released: zł0.37 loss per share (vs zł1.26 loss in 1Q 2024)First quarter 2025 results: zł0.37 loss per share (improved from zł1.26 loss in 1Q 2024). Revenue: zł11.4m (up 28% from 1Q 2024). Net loss: zł555.0k (loss narrowed 79% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.すべての更新を表示Recent updatesUpcoming Dividend • Jun 17Upcoming dividend of zł2.50 per shareEligible shareholders must have bought the stock before 24 June 2026. Payment date: 02 July 2026. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Polish dividend payers (7.1%). Lower than average of industry peers (3.2%).お知らせ • May 15Passus S.A., Annual General Meeting, Jun 10, 2026Passus S.A., Annual General Meeting, Jun 10, 2026, at 13:00 Central European Standard Time.Declared Dividend • Mar 11Dividend reduced to zł1.57Dividend of zł1.57 is 20% lower than last year. Ex-date: 24th June 2026 Payment date: 2nd July 2026 Dividend yield will be 1.2%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 69% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.お知らせ • Mar 10Passus S.A. announces Annual dividend, payable on July 02, 2026Passus S.A. announced Annual dividend of PLN 1.5738 per share payable on July 02, 2026, ex-date on June 24, 2026 and record date on June 25, 2026.Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improves as stock rises 16%After last week's 16% share price gain to zł147, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 19x in the IT industry in Poland. Total returns to shareholders of 452% over the past three years.分析記事 • Feb 06With EPS Growth And More, Passus (WSE:PAS) Makes An Interesting CaseInvestors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...分析記事 • Jan 03Passus S.A. (WSE:PAS) Stocks Shoot Up 27% But Its P/E Still Looks ReasonableThe Passus S.A. ( WSE:PAS ) share price has done very well over the last month, posting an excellent gain of 27%. The...New Risk • Jan 02New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 7.2% 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 (7.2% average weekly change). Minor Risk Market cap is less than US$100m (zł168.0m market cap, or US$46.8m).Valuation Update With 7 Day Price Move • Jan 02Investor sentiment improves as stock rises 36%After last week's 36% share price gain to zł118, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 17x in the IT industry in Poland. Total returns to shareholders of 253% over the past three years.分析記事 • Nov 28We Think Passus' (WSE:PAS) Profit Is Only A Baseline For What They Can AchievePassus S.A.'s ( WSE:PAS ) strong earnings report was rewarded with a positive stock price move. We did some digging and...Reported Earnings • Nov 21Third quarter 2025 earnings released: EPS: zł3.19 (vs zł1.51 in 3Q 2024)Third quarter 2025 results: EPS: zł3.19 (up from zł1.51 in 3Q 2024). Revenue: zł36.6m (up 46% from 3Q 2024). Net income: zł4.94m (up 60% from 3Q 2024). Profit margin: 14% (up from 12% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth.お知らせ • Nov 15Passus S.A. to Report Q3, 2025 Results on Nov 20, 2025Passus S.A. announced that they will report Q3, 2025 results on Nov 20, 2025Valuation Update With 7 Day Price Move • Oct 09Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to zł80.00, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 20x in the IT industry in Poland. Total returns to shareholders of 203% over the past three years.分析記事 • Sep 20Investors Still Aren't Entirely Convinced By Passus S.A.'s (WSE:PAS) Earnings Despite 28% Price JumpPassus S.A. ( WSE:PAS ) shares have continued their recent momentum with a 28% gain in the last month alone. The annual...Valuation Update With 7 Day Price Move • Sep 17Investor sentiment improves as stock rises 20%After last week's 20% share price gain to zł82.40, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 21x in the IT industry in Poland. Total returns to shareholders of 212% over the past three years.Reported Earnings • Sep 11Second quarter 2025 earnings released: zł0.82 loss per share (vs zł0.65 loss in 2Q 2024)Second quarter 2025 results: zł0.82 loss per share. Revenue: zł14.7m (down 1.4% from 2Q 2024). Net loss: zł180.0k (loss narrowed 86% from 2Q 2024).お知らせ • Aug 21Passus S.A. to Report First Half, 2025 Results on Sep 10, 2025Passus S.A. announced that they will report first half, 2025 results on Sep 10, 2025Valuation Update With 7 Day Price Move • Aug 01Investor sentiment improves as stock rises 15%After last week's 15% share price gain to zł72.00, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 20x in the IT industry in Poland. Total returns to shareholders of 158% over the past three years.分析記事 • Jul 06Passus S.A. (WSE:PAS) Stock Rockets 34% But Many Are Still Ignoring The CompanyDespite an already strong run, Passus S.A. ( WSE:PAS ) shares have been powering on, with a gain of 34% in the last...New Risk • Jun 26New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Polish stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (zł99.4m market cap, or US$27.4m).Valuation Update With 7 Day Price Move • Jun 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to zł55.60, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 17x in the IT industry in Poland. Total returns to shareholders of 129% over the past three years.Buy Or Sell Opportunity • Jun 26Now 30% overvalued after recent price riseOver the last 90 days, the stock has risen 68% to zł55.60. The fair value is estimated to be zł42.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 50%.Upcoming Dividend • Jun 17Upcoming dividend of zł1.96 per shareEligible shareholders must have bought the stock before 24 June 2025. Payment date: 02 July 2025. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Polish dividend payers (7.6%). Higher than average of industry peers (2.5%).Reported Earnings • May 28First quarter 2025 earnings released: zł0.37 loss per share (vs zł1.26 loss in 1Q 2024)First quarter 2025 results: zł0.37 loss per share (improved from zł1.26 loss in 1Q 2024). Revenue: zł11.4m (up 28% from 1Q 2024). Net loss: zł555.0k (loss narrowed 79% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.お知らせ • May 12Passus S.A., Annual General Meeting, Jun 10, 2025Passus S.A., Annual General Meeting, Jun 10, 2025.分析記事 • Apr 21Passus' (WSE:PAS) Earnings Are Of Questionable QualityPassus S.A. ( WSE:PAS ) just reported some strong earnings, and the market reacted accordingly with a healthy uplift in...Valuation Update With 7 Day Price Move • Apr 21Investor sentiment improves as stock rises 15%After last week's 15% share price gain to zł40.80, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 15x in the IT industry in Poland. Total loss to shareholders of 3.8% over the past three years.分析記事 • Apr 20Passus S.A.'s (WSE:PAS) Shares Leap 26% Yet They're Still Not Telling The Full StoryDespite an already strong run, Passus S.A. ( WSE:PAS ) shares have been powering on, with a gain of 26% in the last...Declared Dividend • Apr 17Dividend reduced to zł1.96Dividend of zł1.96 is 33% lower than last year. Ex-date: 24th June 2025 Payment date: 2nd July 2025 Dividend yield will be 4.8%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is not covered by earnings (181% earnings payout ratio) nor is it covered by cash flows (130% cash payout ratio). The dividend has increased by an average of 97% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 101% to bring the payout ratio under control, which is more than the 70% EPS growth achieved over the last 5 years.お知らせ • Apr 17Passus S.A. announces Annual dividend, payable on July 02, 2025Passus S.A. announced Annual dividend of PLN 1.9600 per share payable on July 02, 2025, ex-date on June 24, 2025 and record date on June 25, 2025.Reported Earnings • Apr 16Full year 2024 earnings released: EPS: zł6.47 (vs zł0.79 in FY 2023)Full year 2024 results: EPS: zł6.47 (up from zł0.79 in FY 2023). Revenue: zł107.5m (up 20% from FY 2023). Net income: zł10.3m (up zł8.71m from FY 2023). Profit margin: 9.6% (up from 1.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.分析記事 • Apr 16A Look At The Intrinsic Value Of Passus S.A. (WSE:PAS)Key Insights Passus' estimated fair value is zł41.24 based on Dividend Discount Model With zł36.70 share price, Passus...Buy Or Sell Opportunity • Mar 21Now 21% undervaluedOver the last 90 days, the stock has risen 12% to zł32.50. The fair value is estimated to be zł41.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 46%.Buy Or Sell Opportunity • Feb 20Now 21% undervaluedOver the last 90 days, the stock has risen 21% to zł32.60. The fair value is estimated to be zł41.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 46%.Valuation Update With 7 Day Price Move • Jan 03Investor sentiment improves as stock rises 18%After last week's 18% share price gain to zł33.50, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 16x in the IT industry in Poland. Total loss to shareholders of 31% over the past three years.New Risk • Dec 03New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 8.8% 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 Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 181% Paying a dividend despite having no free cash flows. High level of non-cash earnings (75% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (zł62.0m market cap, or US$15.2m).New Risk • Nov 27New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.3% Last year net profit margin: 6.2% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 181% Paying a dividend despite having no free cash flows. High level of non-cash earnings (75% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (zł63.2m market cap, or US$15.4m).分析記事 • Nov 23Some Confidence Is Lacking In Passus S.A.'s (WSE:PAS) P/EWith a price-to-earnings (or "P/E") ratio of 16.7x Passus S.A. ( WSE:PAS ) may be sending bearish signals at the...Reported Earnings • Nov 22Third quarter 2024 earnings released: zł0.33 loss per share (vs zł0.74 loss in 3Q 2023)Third quarter 2024 results: zł0.33 loss per share (improved from zł0.74 loss in 3Q 2023). Revenue: zł25.2m (up 114% from 3Q 2023). Net income: zł3.10m (up zł4.63m from 3Q 2023). Profit margin: 12% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.Reported Earnings • Sep 11Second quarter 2024 earnings released: zł0.65 loss per share (vs zł0.43 loss in 2Q 2023)Second quarter 2024 results: zł0.65 loss per share (further deteriorated from zł0.43 loss in 2Q 2023). Revenue: zł14.9m (up 12% from 2Q 2023). Net loss: zł1.27m (loss widened 44% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance.分析記事 • Jul 19Not Many Are Piling Into Passus S.A. (WSE:PAS) Stock Yet As It Plummets 33%Passus S.A. ( WSE:PAS ) shares have had a horrible month, losing 33% after a relatively good period beforehand. Indeed...Buy Or Sell Opportunity • Jul 06Now 21% undervaluedOver the last 90 days, the stock has risen 23% to zł33.40. The fair value is estimated to be zł42.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company became loss making.Upcoming Dividend • Jun 28Upcoming dividend of zł2.92 per shareEligible shareholders must have bought the stock before 05 July 2024. Payment date: 17 July 2024. Trailing yield: 8.0%. Within top quartile of Polish dividend payers (7.9%). Higher than average of industry peers (2.5%).お知らせ • May 26Passus S.A., Annual General Meeting, Jun 20, 2024Passus S.A., Annual General Meeting, Jun 20, 2024.Reported Earnings • May 24First quarter 2024 earnings released: zł1.26 loss per share (vs zł0.41 loss in 1Q 2023)First quarter 2024 results: zł1.26 loss per share (further deteriorated from zł0.41 loss in 1Q 2023). Revenue: zł8.97m (down 33% from 1Q 2023). Net loss: zł2.58m (loss widened 211% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.Valuation Update With 7 Day Price Move • May 14Investor sentiment improves as stock rises 17%After last week's 17% share price gain to zł37.30, the stock trades at a trailing P/E ratio of 47.2x. Average trailing P/E is 15x in the IT industry in Poland. Total loss to shareholders of 39% over the past three years.Buy Or Sell Opportunity • May 07Now 25% undervaluedOver the last 90 days, the stock has risen 24% to zł31.80. The fair value is estimated to be zł42.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has declined by 36%.分析記事 • Apr 27Passus S.A. (WSE:PAS) Stock Rockets 28% As Investors Are Less Pessimistic Than ExpectedPassus S.A. ( WSE:PAS ) shares have continued their recent momentum with a 28% gain in the last month alone...Reported Earnings • Apr 17Full year 2023 earnings released: EPS: zł0.79 (vs zł2.11 in FY 2022)Full year 2023 results: EPS: zł0.79 (down from zł2.11 in FY 2022). Revenue: zł89.3m (up 17% from FY 2022). Net income: zł1.62m (down 63% from FY 2022). Profit margin: 1.8% (down from 5.7% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings.分析記事 • Feb 09Pinning Down Passus S.A.'s (WSE:PAS) P/E Is Difficult Right NowWhen close to half the companies in Poland have price-to-earnings ratios (or "P/E's") below 12x, you may consider...Valuation Update With 7 Day Price Move • Feb 08Investor sentiment improves as stock rises 20%After last week's 20% share price gain to zł28.00, the stock trades at a trailing P/E ratio of 71.2x. Average trailing P/E is 14x in the IT industry in Poland. Total loss to shareholders of 51% over the past three years.お知らせ • Jan 24+ 3 more updatesPassus S.A. to Report Fiscal Year 2023 Results on Apr 16, 2024Passus S.A. announced that they will report fiscal year 2023 results at 8:30 AM, Central European Standard Time on Apr 16, 2024Reported Earnings • Nov 17Third quarter 2023 earnings released: zł0.74 loss per share (vs zł0.043 profit in 3Q 2022)Third quarter 2023 results: zł0.74 loss per share (down from zł0.043 profit in 3Q 2022). Revenue: zł11.8m (down 4.9% from 3Q 2022). Net loss: zł1.53m (down zł1.61m from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.Reported Earnings • Sep 14Second quarter 2023 earnings released: zł0.42 loss per share (vs zł0.14 profit in 2Q 2022)Second quarter 2023 results: zł0.42 loss per share (down from zł0.14 profit in 2Q 2022). Revenue: zł13.3m (down 18% from 2Q 2022). Net loss: zł881.0k (down 433% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.New Risk • Jun 26New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 9.6% 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 (9.6% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (0.5% net profit margin). Shareholders have been diluted in the past year (7.1% increase in shares outstanding). Market cap is less than US$100m (zł51.7m market cap, or US$12.7m).Valuation Update With 7 Day Price Move • May 31Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to zł25.60, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the IT industry in Europe. Total returns to shareholders of 129% over the past three years.お知らせ • Jan 31+ 3 more updatesPassus S.A. to Report Q3, 2023 Results on Nov 15, 2023Passus S.A. announced that they will report Q3, 2023 results on Nov 15, 2023Price Target Changed • Nov 16Price target decreased to zł51.40Down from zł58.80, the current price target is provided by 1 analyst. New target price is 62% above last closing price of zł31.80. Stock is down 36% over the past year. The company posted earnings per share of zł3.19 last year.Buying Opportunity • Oct 21Now 20% undervaluedOver the last 90 days, the stock is up 14%. The fair value is estimated to be zł37.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable.分析記事 • Sep 14Should You Investigate Passus S.A. (WSE:PAS) At zł28.00?Passus S.A. ( WSE:PAS ), might not be a large cap stock, but it received a lot of attention from a substantial price...分析記事 • Jun 01What Does Passus S.A.'s (WSE:PAS) Share Price Indicate?Passus S.A. ( WSE:PAS ), is not the largest company out there, but it received a lot of attention from a substantial...Valuation Update With 7 Day Price Move • May 31Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to zł32.10, the stock trades at a trailing P/E ratio of 24.5x. Average forward P/E is 22x in the IT industry in Poland. Total returns to shareholders of 199% over the past three years.お知らせ • May 27Passus S.A., Annual General Meeting, Jun 21, 2022Passus S.A., Annual General Meeting, Jun 21, 2022, at 13:00 Central European Standard Time.Buying Opportunity • Apr 11Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 12%. The fair value is estimated to be zł58.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 91%.Valuation Update With 7 Day Price Move • Mar 03Investor sentiment improved over the past weekAfter last week's 22% share price gain to zł48.60, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 15x in the IT industry in Poland. Total returns to shareholders of 388% over the past three years.分析記事 • Mar 03Here's Why We Think Passus (WSE:PAS) Is Well Worth WatchingLike a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...お知らせ • Jan 30+ 2 more updatesPassus S.A. to Report Q2, 2022 Results on Aug 12, 2022Passus S.A. announced that they will report Q2, 2022 results on Aug 12, 2022Valuation Update With 7 Day Price Move • Aug 03Investor sentiment improved over the past weekAfter last week's 18% share price gain to zł59.00, the stock trades at a trailing P/E ratio of 31.9x. Average trailing P/E is 17x in the IT industry in Poland. Total returns to shareholders of 296% over the past three years.Upcoming Dividend • Jul 01Upcoming dividend of zł0.07 per shareEligible shareholders must have bought the stock before 07 July 2021. Payment date: 15 July 2021. Trailing yield: 0.1%. Lower than top quartile of Polish dividend payers (5.7%). Lower than average of industry peers (2.7%).Valuation Update With 7 Day Price Move • Apr 16Investor sentiment improved over the past weekAfter last week's 16% share price gain to zł65.00, the stock trades at a trailing P/E ratio of 35.1x. Average trailing P/E is 28x in the Software industry in Poland. Total returns to shareholders of 443% over the past year.Valuation Update With 7 Day Price Move • Mar 17Investor sentiment improved over the past weekAfter last week's 20% share price gain to zł65.50, the stock trades at a trailing P/E ratio of 35.4x. Average trailing P/E is 25x in the Software industry in Poland. Total returns to shareholders of 672% over the past year.Valuation Update With 7 Day Price Move • Jan 28Investor sentiment improved over the past weekAfter last week's 92% share price gain to zł61.50, the stock is trading at a trailing P/E ratio of 33.2x, up from the previous P/E ratio of 17.3x. This compares to an average P/E of 20x in the Software industry in Poland. Total returns to shareholders over the past year are 325%.Is New 90 Day High Low • Jan 22New 90-day high: zł39.00The company is up 136% from its price of zł16.50 on 23 October 2020. The Polish market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 8.0% over the same period.お知らせ • Jan 13+ 3 more updatesPassus S.A. to Report Q3, 2021 Results on Nov 12, 2021Passus S.A. announced that they will report Q3, 2021 results on Nov 12, 2021Valuation Update With 7 Day Price Move • Jan 07Investor sentiment improved over the past weekAfter last week's 16% share price gain to zł35.60, the stock is trading at a trailing P/E ratio of 19.2x, up from the previous P/E ratio of 16.6x. This compares to an average P/E of 19x in the Software industry in Poland. Total returns to shareholders over the past year are 144%.分析記事 • Jan 05Why Passus S.A. (WSE:PAS) Looks Like A Quality CompanyWhile some investors are already well versed in financial metrics (hat tip), this article is for those who would like...Is New 90 Day High Low • Jan 04New 90-day high: zł37.20The company is up 142% from its price of zł15.40 on 06 October 2020. The Polish market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 3.0% over the same period.Valuation Update With 7 Day Price Move • Jan 04Investor sentiment improved over the past weekAfter last week's 22% share price gain to zł37.20, the stock is trading at a trailing P/E ratio of 20.1x, up from the previous P/E ratio of 16.5x. This compares to an average P/E of 19x in the Software industry in Poland. Total returns to shareholders over the past year are 155%.Valuation Update With 7 Day Price Move • Dec 24Investor sentiment improved over the past weekAfter last week's 15% share price gain to zł31.40, the stock is trading at a trailing P/E ratio of 17x, up from the previous P/E ratio of 14.7x. This compares to an average P/E of 18x in the Software industry in Poland. Total returns to shareholders over the past year are 135%.Valuation Update With 7 Day Price Move • Dec 17Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to zł27.20, the stock is trading at a trailing P/E ratio of 14.7x, down from the previous P/E ratio of 17.7x. This compares to an average P/E of 17x in the Software industry in Poland. Total returns to shareholders over the past year are 95%.Valuation Update With 7 Day Price Move • Dec 07Market bids up stock over the past weekAfter last week's 41% share price gain to zł33.80, the stock is trading at a trailing P/E ratio of 18.3x, up from the previous P/E ratio of 13x. This compares to an average P/E of 17x in the Software industry in Poland. Total returns to shareholders over the past year are 130%.Is New 90 Day High Low • Dec 07New 90-day high: zł33.80The company is up 119% from its price of zł15.40 on 08 September 2020. The Polish market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 2.0% over the same period.Valuation Update With 7 Day Price Move • Nov 24Market bids up stock over the past weekAfter last week's 21% share price gain to zł26.00, the stock is trading at a trailing P/E ratio of 14x, up from the previous P/E ratio of 11.6x. This compares to an average P/E of 16x in the Software industry in Poland. Total returns to shareholders over the past year are 135%.Is New 90 Day High Low • Nov 16New 90-day high: zł22.20The company is up 9.0% from its price of zł20.40 on 18 August 2020. The Polish market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 4.0% over the same period.Valuation Update With 7 Day Price Move • Nov 10Market bids up stock over the past weekAfter last week's 24% share price gain to zł21.00, the stock is trading at a trailing P/E ratio of 11.1x, up from the previous P/E ratio of 9x. This compares to an average P/E of 16x in the Software industry in Poland. Total returns to shareholders over the past year are 78%.Valuation Update With 7 Day Price Move • Oct 16Market bids up stock over the past weekAfter last week's 21% share price gain to zł18.00, the stock is trading at a trailing P/E ratio of 9.5x, up from the previous P/E ratio of 7.9x. This compares to an average P/E of 16x in the Software industry in Poland. Total returns to shareholders over the past year are 29%.収支内訳Passus 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:PAS 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 261361133031 Dec 251231031030 Sep 251221233030 Jun 251101131031 Mar 251101131031 Dec 241071031030 Sep 2499927030 Jun 2485525031 Mar 2482724031 Dec 2387725030 Sep 2375529030 Jun 2376528031 Mar 2380426031 Dec 2276425030 Sep 2264019030 Jun 2264318031 Mar 2256215031 Dec 2163616030 Sep 2160717030 Jun 2153416031 Mar 2155521031 Dec 2043219030 Sep 2044423030 Jun 2046423031 Mar 2043321031 Dec 1939120030 Sep 1925-214030 Jun 1923-214031 Mar 1921-212031 Dec 1825013031 Dec 17272140質の高い収益: PAS 非現金収入 のレベルが高いです。利益率の向上: PASの現在の純利益率 (8.3%)は、昨年(9.6%)よりも低くなっています。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: PASの収益は過去 5 年間で年間24.2%増加しました。成長の加速: PASの過去 1 年間の収益成長率 ( 7% ) は、5 年間の平均 ( 年間24.2%を下回っています。収益対業界: PASの過去 1 年間の収益成長率 ( 7% ) はIT業界7%を上回りました。株主資本利益率高いROE: PASの 自己資本利益率 ( 43.1% ) は 傑出している と考えられます。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7D1Y7D1Y7D1YSoftware 、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2026/06/25 22:02終値2026/06/25 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、レポートの使い方に関する ガイド や YouTube の チュートリアル もご用意しています。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Passus 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。1 アナリスト機関Adrian KowollikEast Value Research GmbH
分析記事 • Nov 28We Think Passus' (WSE:PAS) Profit Is Only A Baseline For What They Can AchievePassus S.A.'s ( WSE:PAS ) strong earnings report was rewarded with a positive stock price move. We did some digging and...
Reported Earnings • Nov 21Third quarter 2025 earnings released: EPS: zł3.19 (vs zł1.51 in 3Q 2024)Third quarter 2025 results: EPS: zł3.19 (up from zł1.51 in 3Q 2024). Revenue: zł36.6m (up 46% from 3Q 2024). Net income: zł4.94m (up 60% from 3Q 2024). Profit margin: 14% (up from 12% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth.
お知らせ • Nov 15Passus S.A. to Report Q3, 2025 Results on Nov 20, 2025Passus S.A. announced that they will report Q3, 2025 results on Nov 20, 2025
Reported Earnings • Sep 11Second quarter 2025 earnings released: zł0.82 loss per share (vs zł0.65 loss in 2Q 2024)Second quarter 2025 results: zł0.82 loss per share. Revenue: zł14.7m (down 1.4% from 2Q 2024). Net loss: zł180.0k (loss narrowed 86% from 2Q 2024).
お知らせ • Aug 21Passus S.A. to Report First Half, 2025 Results on Sep 10, 2025Passus S.A. announced that they will report first half, 2025 results on Sep 10, 2025
Reported Earnings • May 28First quarter 2025 earnings released: zł0.37 loss per share (vs zł1.26 loss in 1Q 2024)First quarter 2025 results: zł0.37 loss per share (improved from zł1.26 loss in 1Q 2024). Revenue: zł11.4m (up 28% from 1Q 2024). Net loss: zł555.0k (loss narrowed 79% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
Upcoming Dividend • Jun 17Upcoming dividend of zł2.50 per shareEligible shareholders must have bought the stock before 24 June 2026. Payment date: 02 July 2026. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Polish dividend payers (7.1%). Lower than average of industry peers (3.2%).
お知らせ • May 15Passus S.A., Annual General Meeting, Jun 10, 2026Passus S.A., Annual General Meeting, Jun 10, 2026, at 13:00 Central European Standard Time.
Declared Dividend • Mar 11Dividend reduced to zł1.57Dividend of zł1.57 is 20% lower than last year. Ex-date: 24th June 2026 Payment date: 2nd July 2026 Dividend yield will be 1.2%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has increased by an average of 69% per year over the past 7 years. However, payments have been volatile during that time. Earnings per share has grown by 30% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover.
お知らせ • Mar 10Passus S.A. announces Annual dividend, payable on July 02, 2026Passus S.A. announced Annual dividend of PLN 1.5738 per share payable on July 02, 2026, ex-date on June 24, 2026 and record date on June 25, 2026.
Valuation Update With 7 Day Price Move • Feb 12Investor sentiment improves as stock rises 16%After last week's 16% share price gain to zł147, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 19x in the IT industry in Poland. Total returns to shareholders of 452% over the past three years.
分析記事 • Feb 06With EPS Growth And More, Passus (WSE:PAS) Makes An Interesting CaseInvestors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
分析記事 • Jan 03Passus S.A. (WSE:PAS) Stocks Shoot Up 27% But Its P/E Still Looks ReasonableThe Passus S.A. ( WSE:PAS ) share price has done very well over the last month, posting an excellent gain of 27%. The...
New Risk • Jan 02New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 7.2% 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 (7.2% average weekly change). Minor Risk Market cap is less than US$100m (zł168.0m market cap, or US$46.8m).
Valuation Update With 7 Day Price Move • Jan 02Investor sentiment improves as stock rises 36%After last week's 36% share price gain to zł118, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 17x in the IT industry in Poland. Total returns to shareholders of 253% over the past three years.
分析記事 • Nov 28We Think Passus' (WSE:PAS) Profit Is Only A Baseline For What They Can AchievePassus S.A.'s ( WSE:PAS ) strong earnings report was rewarded with a positive stock price move. We did some digging and...
Reported Earnings • Nov 21Third quarter 2025 earnings released: EPS: zł3.19 (vs zł1.51 in 3Q 2024)Third quarter 2025 results: EPS: zł3.19 (up from zł1.51 in 3Q 2024). Revenue: zł36.6m (up 46% from 3Q 2024). Net income: zł4.94m (up 60% from 3Q 2024). Profit margin: 14% (up from 12% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 42% per year, which means it is significantly lagging earnings growth.
お知らせ • Nov 15Passus S.A. to Report Q3, 2025 Results on Nov 20, 2025Passus S.A. announced that they will report Q3, 2025 results on Nov 20, 2025
Valuation Update With 7 Day Price Move • Oct 09Investor sentiment deteriorates as stock falls 16%After last week's 16% share price decline to zł80.00, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 20x in the IT industry in Poland. Total returns to shareholders of 203% over the past three years.
分析記事 • Sep 20Investors Still Aren't Entirely Convinced By Passus S.A.'s (WSE:PAS) Earnings Despite 28% Price JumpPassus S.A. ( WSE:PAS ) shares have continued their recent momentum with a 28% gain in the last month alone. The annual...
Valuation Update With 7 Day Price Move • Sep 17Investor sentiment improves as stock rises 20%After last week's 20% share price gain to zł82.40, the stock trades at a trailing P/E ratio of 12.6x. Average trailing P/E is 21x in the IT industry in Poland. Total returns to shareholders of 212% over the past three years.
Reported Earnings • Sep 11Second quarter 2025 earnings released: zł0.82 loss per share (vs zł0.65 loss in 2Q 2024)Second quarter 2025 results: zł0.82 loss per share. Revenue: zł14.7m (down 1.4% from 2Q 2024). Net loss: zł180.0k (loss narrowed 86% from 2Q 2024).
お知らせ • Aug 21Passus S.A. to Report First Half, 2025 Results on Sep 10, 2025Passus S.A. announced that they will report first half, 2025 results on Sep 10, 2025
Valuation Update With 7 Day Price Move • Aug 01Investor sentiment improves as stock rises 15%After last week's 15% share price gain to zł72.00, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 20x in the IT industry in Poland. Total returns to shareholders of 158% over the past three years.
分析記事 • Jul 06Passus S.A. (WSE:PAS) Stock Rockets 34% But Many Are Still Ignoring The CompanyDespite an already strong run, Passus S.A. ( WSE:PAS ) shares have been powering on, with a gain of 34% in the last...
New Risk • Jun 26New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Polish stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (zł99.4m market cap, or US$27.4m).
Valuation Update With 7 Day Price Move • Jun 26Investor sentiment improves as stock rises 24%After last week's 24% share price gain to zł55.60, the stock trades at a trailing P/E ratio of 9.4x. Average trailing P/E is 17x in the IT industry in Poland. Total returns to shareholders of 129% over the past three years.
Buy Or Sell Opportunity • Jun 26Now 30% overvalued after recent price riseOver the last 90 days, the stock has risen 68% to zł55.60. The fair value is estimated to be zł42.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 50%.
Upcoming Dividend • Jun 17Upcoming dividend of zł1.96 per shareEligible shareholders must have bought the stock before 24 June 2025. Payment date: 02 July 2025. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Polish dividend payers (7.6%). Higher than average of industry peers (2.5%).
Reported Earnings • May 28First quarter 2025 earnings released: zł0.37 loss per share (vs zł1.26 loss in 1Q 2024)First quarter 2025 results: zł0.37 loss per share (improved from zł1.26 loss in 1Q 2024). Revenue: zł11.4m (up 28% from 1Q 2024). Net loss: zł555.0k (loss narrowed 79% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth.
お知らせ • May 12Passus S.A., Annual General Meeting, Jun 10, 2025Passus S.A., Annual General Meeting, Jun 10, 2025.
分析記事 • Apr 21Passus' (WSE:PAS) Earnings Are Of Questionable QualityPassus S.A. ( WSE:PAS ) just reported some strong earnings, and the market reacted accordingly with a healthy uplift in...
Valuation Update With 7 Day Price Move • Apr 21Investor sentiment improves as stock rises 15%After last week's 15% share price gain to zł40.80, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 15x in the IT industry in Poland. Total loss to shareholders of 3.8% over the past three years.
分析記事 • Apr 20Passus S.A.'s (WSE:PAS) Shares Leap 26% Yet They're Still Not Telling The Full StoryDespite an already strong run, Passus S.A. ( WSE:PAS ) shares have been powering on, with a gain of 26% in the last...
Declared Dividend • Apr 17Dividend reduced to zł1.96Dividend of zł1.96 is 33% lower than last year. Ex-date: 24th June 2025 Payment date: 2nd July 2025 Dividend yield will be 4.8%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is not covered by earnings (181% earnings payout ratio) nor is it covered by cash flows (130% cash payout ratio). The dividend has increased by an average of 97% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 101% to bring the payout ratio under control, which is more than the 70% EPS growth achieved over the last 5 years.
お知らせ • Apr 17Passus S.A. announces Annual dividend, payable on July 02, 2025Passus S.A. announced Annual dividend of PLN 1.9600 per share payable on July 02, 2025, ex-date on June 24, 2025 and record date on June 25, 2025.
Reported Earnings • Apr 16Full year 2024 earnings released: EPS: zł6.47 (vs zł0.79 in FY 2023)Full year 2024 results: EPS: zł6.47 (up from zł0.79 in FY 2023). Revenue: zł107.5m (up 20% from FY 2023). Net income: zł10.3m (up zł8.71m from FY 2023). Profit margin: 9.6% (up from 1.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings.
分析記事 • Apr 16A Look At The Intrinsic Value Of Passus S.A. (WSE:PAS)Key Insights Passus' estimated fair value is zł41.24 based on Dividend Discount Model With zł36.70 share price, Passus...
Buy Or Sell Opportunity • Mar 21Now 21% undervaluedOver the last 90 days, the stock has risen 12% to zł32.50. The fair value is estimated to be zł41.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 46%.
Buy Or Sell Opportunity • Feb 20Now 21% undervaluedOver the last 90 days, the stock has risen 21% to zł32.60. The fair value is estimated to be zł41.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has declined by 46%.
Valuation Update With 7 Day Price Move • Jan 03Investor sentiment improves as stock rises 18%After last week's 18% share price gain to zł33.50, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 16x in the IT industry in Poland. Total loss to shareholders of 31% over the past three years.
New Risk • Dec 03New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 8.8% 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 Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 181% Paying a dividend despite having no free cash flows. High level of non-cash earnings (75% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (zł62.0m market cap, or US$15.2m).
New Risk • Nov 27New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.3% Last year net profit margin: 6.2% 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 181% Paying a dividend despite having no free cash flows. High level of non-cash earnings (75% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (zł63.2m market cap, or US$15.4m).
分析記事 • Nov 23Some Confidence Is Lacking In Passus S.A.'s (WSE:PAS) P/EWith a price-to-earnings (or "P/E") ratio of 16.7x Passus S.A. ( WSE:PAS ) may be sending bearish signals at the...
Reported Earnings • Nov 22Third quarter 2024 earnings released: zł0.33 loss per share (vs zł0.74 loss in 3Q 2023)Third quarter 2024 results: zł0.33 loss per share (improved from zł0.74 loss in 3Q 2023). Revenue: zł25.2m (up 114% from 3Q 2023). Net income: zł3.10m (up zł4.63m from 3Q 2023). Profit margin: 12% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
Reported Earnings • Sep 11Second quarter 2024 earnings released: zł0.65 loss per share (vs zł0.43 loss in 2Q 2023)Second quarter 2024 results: zł0.65 loss per share (further deteriorated from zł0.43 loss in 2Q 2023). Revenue: zł14.9m (up 12% from 2Q 2023). Net loss: zł1.27m (loss widened 44% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance.
分析記事 • Jul 19Not Many Are Piling Into Passus S.A. (WSE:PAS) Stock Yet As It Plummets 33%Passus S.A. ( WSE:PAS ) shares have had a horrible month, losing 33% after a relatively good period beforehand. Indeed...
Buy Or Sell Opportunity • Jul 06Now 21% undervaluedOver the last 90 days, the stock has risen 23% to zł33.40. The fair value is estimated to be zł42.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company became loss making.
Upcoming Dividend • Jun 28Upcoming dividend of zł2.92 per shareEligible shareholders must have bought the stock before 05 July 2024. Payment date: 17 July 2024. Trailing yield: 8.0%. Within top quartile of Polish dividend payers (7.9%). Higher than average of industry peers (2.5%).
お知らせ • May 26Passus S.A., Annual General Meeting, Jun 20, 2024Passus S.A., Annual General Meeting, Jun 20, 2024.
Reported Earnings • May 24First quarter 2024 earnings released: zł1.26 loss per share (vs zł0.41 loss in 1Q 2023)First quarter 2024 results: zł1.26 loss per share (further deteriorated from zł0.41 loss in 1Q 2023). Revenue: zł8.97m (down 33% from 1Q 2023). Net loss: zł2.58m (loss widened 211% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings.
Valuation Update With 7 Day Price Move • May 14Investor sentiment improves as stock rises 17%After last week's 17% share price gain to zł37.30, the stock trades at a trailing P/E ratio of 47.2x. Average trailing P/E is 15x in the IT industry in Poland. Total loss to shareholders of 39% over the past three years.
Buy Or Sell Opportunity • May 07Now 25% undervaluedOver the last 90 days, the stock has risen 24% to zł31.80. The fair value is estimated to be zł42.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has declined by 36%.
分析記事 • Apr 27Passus S.A. (WSE:PAS) Stock Rockets 28% As Investors Are Less Pessimistic Than ExpectedPassus S.A. ( WSE:PAS ) shares have continued their recent momentum with a 28% gain in the last month alone...
Reported Earnings • Apr 17Full year 2023 earnings released: EPS: zł0.79 (vs zł2.11 in FY 2022)Full year 2023 results: EPS: zł0.79 (down from zł2.11 in FY 2022). Revenue: zł89.3m (up 17% from FY 2022). Net income: zł1.62m (down 63% from FY 2022). Profit margin: 1.8% (down from 5.7% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings.
分析記事 • Feb 09Pinning Down Passus S.A.'s (WSE:PAS) P/E Is Difficult Right NowWhen close to half the companies in Poland have price-to-earnings ratios (or "P/E's") below 12x, you may consider...
Valuation Update With 7 Day Price Move • Feb 08Investor sentiment improves as stock rises 20%After last week's 20% share price gain to zł28.00, the stock trades at a trailing P/E ratio of 71.2x. Average trailing P/E is 14x in the IT industry in Poland. Total loss to shareholders of 51% over the past three years.
お知らせ • Jan 24+ 3 more updatesPassus S.A. to Report Fiscal Year 2023 Results on Apr 16, 2024Passus S.A. announced that they will report fiscal year 2023 results at 8:30 AM, Central European Standard Time on Apr 16, 2024
Reported Earnings • Nov 17Third quarter 2023 earnings released: zł0.74 loss per share (vs zł0.043 profit in 3Q 2022)Third quarter 2023 results: zł0.74 loss per share (down from zł0.043 profit in 3Q 2022). Revenue: zł11.8m (down 4.9% from 3Q 2022). Net loss: zł1.53m (down zł1.61m from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
Reported Earnings • Sep 14Second quarter 2023 earnings released: zł0.42 loss per share (vs zł0.14 profit in 2Q 2022)Second quarter 2023 results: zł0.42 loss per share (down from zł0.14 profit in 2Q 2022). Revenue: zł13.3m (down 18% from 2Q 2022). Net loss: zł881.0k (down 433% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings.
New Risk • Jun 26New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 9.6% 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 (9.6% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (0.5% net profit margin). Shareholders have been diluted in the past year (7.1% increase in shares outstanding). Market cap is less than US$100m (zł51.7m market cap, or US$12.7m).
Valuation Update With 7 Day Price Move • May 31Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to zł25.60, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the IT industry in Europe. Total returns to shareholders of 129% over the past three years.
お知らせ • Jan 31+ 3 more updatesPassus S.A. to Report Q3, 2023 Results on Nov 15, 2023Passus S.A. announced that they will report Q3, 2023 results on Nov 15, 2023
Price Target Changed • Nov 16Price target decreased to zł51.40Down from zł58.80, the current price target is provided by 1 analyst. New target price is 62% above last closing price of zł31.80. Stock is down 36% over the past year. The company posted earnings per share of zł3.19 last year.
Buying Opportunity • Oct 21Now 20% undervaluedOver the last 90 days, the stock is up 14%. The fair value is estimated to be zł37.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company has become profitable.
分析記事 • Sep 14Should You Investigate Passus S.A. (WSE:PAS) At zł28.00?Passus S.A. ( WSE:PAS ), might not be a large cap stock, but it received a lot of attention from a substantial price...
分析記事 • Jun 01What Does Passus S.A.'s (WSE:PAS) Share Price Indicate?Passus S.A. ( WSE:PAS ), is not the largest company out there, but it received a lot of attention from a substantial...
Valuation Update With 7 Day Price Move • May 31Investor sentiment deteriorated over the past weekAfter last week's 18% share price decline to zł32.10, the stock trades at a trailing P/E ratio of 24.5x. Average forward P/E is 22x in the IT industry in Poland. Total returns to shareholders of 199% over the past three years.
お知らせ • May 27Passus S.A., Annual General Meeting, Jun 21, 2022Passus S.A., Annual General Meeting, Jun 21, 2022, at 13:00 Central European Standard Time.
Buying Opportunity • Apr 11Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 12%. The fair value is estimated to be zł58.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 91%.
Valuation Update With 7 Day Price Move • Mar 03Investor sentiment improved over the past weekAfter last week's 22% share price gain to zł48.60, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 15x in the IT industry in Poland. Total returns to shareholders of 388% over the past three years.
分析記事 • Mar 03Here's Why We Think Passus (WSE:PAS) Is Well Worth WatchingLike a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
お知らせ • Jan 30+ 2 more updatesPassus S.A. to Report Q2, 2022 Results on Aug 12, 2022Passus S.A. announced that they will report Q2, 2022 results on Aug 12, 2022
Valuation Update With 7 Day Price Move • Aug 03Investor sentiment improved over the past weekAfter last week's 18% share price gain to zł59.00, the stock trades at a trailing P/E ratio of 31.9x. Average trailing P/E is 17x in the IT industry in Poland. Total returns to shareholders of 296% over the past three years.
Upcoming Dividend • Jul 01Upcoming dividend of zł0.07 per shareEligible shareholders must have bought the stock before 07 July 2021. Payment date: 15 July 2021. Trailing yield: 0.1%. Lower than top quartile of Polish dividend payers (5.7%). Lower than average of industry peers (2.7%).
Valuation Update With 7 Day Price Move • Apr 16Investor sentiment improved over the past weekAfter last week's 16% share price gain to zł65.00, the stock trades at a trailing P/E ratio of 35.1x. Average trailing P/E is 28x in the Software industry in Poland. Total returns to shareholders of 443% over the past year.
Valuation Update With 7 Day Price Move • Mar 17Investor sentiment improved over the past weekAfter last week's 20% share price gain to zł65.50, the stock trades at a trailing P/E ratio of 35.4x. Average trailing P/E is 25x in the Software industry in Poland. Total returns to shareholders of 672% over the past year.
Valuation Update With 7 Day Price Move • Jan 28Investor sentiment improved over the past weekAfter last week's 92% share price gain to zł61.50, the stock is trading at a trailing P/E ratio of 33.2x, up from the previous P/E ratio of 17.3x. This compares to an average P/E of 20x in the Software industry in Poland. Total returns to shareholders over the past year are 325%.
Is New 90 Day High Low • Jan 22New 90-day high: zł39.00The company is up 136% from its price of zł16.50 on 23 October 2020. The Polish market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 8.0% over the same period.
お知らせ • Jan 13+ 3 more updatesPassus S.A. to Report Q3, 2021 Results on Nov 12, 2021Passus S.A. announced that they will report Q3, 2021 results on Nov 12, 2021
Valuation Update With 7 Day Price Move • Jan 07Investor sentiment improved over the past weekAfter last week's 16% share price gain to zł35.60, the stock is trading at a trailing P/E ratio of 19.2x, up from the previous P/E ratio of 16.6x. This compares to an average P/E of 19x in the Software industry in Poland. Total returns to shareholders over the past year are 144%.
分析記事 • Jan 05Why Passus S.A. (WSE:PAS) Looks Like A Quality CompanyWhile some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
Is New 90 Day High Low • Jan 04New 90-day high: zł37.20The company is up 142% from its price of zł15.40 on 06 October 2020. The Polish market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is up 3.0% over the same period.
Valuation Update With 7 Day Price Move • Jan 04Investor sentiment improved over the past weekAfter last week's 22% share price gain to zł37.20, the stock is trading at a trailing P/E ratio of 20.1x, up from the previous P/E ratio of 16.5x. This compares to an average P/E of 19x in the Software industry in Poland. Total returns to shareholders over the past year are 155%.
Valuation Update With 7 Day Price Move • Dec 24Investor sentiment improved over the past weekAfter last week's 15% share price gain to zł31.40, the stock is trading at a trailing P/E ratio of 17x, up from the previous P/E ratio of 14.7x. This compares to an average P/E of 18x in the Software industry in Poland. Total returns to shareholders over the past year are 135%.
Valuation Update With 7 Day Price Move • Dec 17Investor sentiment deteriorated over the past weekAfter last week's 17% share price decline to zł27.20, the stock is trading at a trailing P/E ratio of 14.7x, down from the previous P/E ratio of 17.7x. This compares to an average P/E of 17x in the Software industry in Poland. Total returns to shareholders over the past year are 95%.
Valuation Update With 7 Day Price Move • Dec 07Market bids up stock over the past weekAfter last week's 41% share price gain to zł33.80, the stock is trading at a trailing P/E ratio of 18.3x, up from the previous P/E ratio of 13x. This compares to an average P/E of 17x in the Software industry in Poland. Total returns to shareholders over the past year are 130%.
Is New 90 Day High Low • Dec 07New 90-day high: zł33.80The company is up 119% from its price of zł15.40 on 08 September 2020. The Polish market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 2.0% over the same period.
Valuation Update With 7 Day Price Move • Nov 24Market bids up stock over the past weekAfter last week's 21% share price gain to zł26.00, the stock is trading at a trailing P/E ratio of 14x, up from the previous P/E ratio of 11.6x. This compares to an average P/E of 16x in the Software industry in Poland. Total returns to shareholders over the past year are 135%.
Is New 90 Day High Low • Nov 16New 90-day high: zł22.20The company is up 9.0% from its price of zł20.40 on 18 August 2020. The Polish market is down 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Software industry, which is down 4.0% over the same period.
Valuation Update With 7 Day Price Move • Nov 10Market bids up stock over the past weekAfter last week's 24% share price gain to zł21.00, the stock is trading at a trailing P/E ratio of 11.1x, up from the previous P/E ratio of 9x. This compares to an average P/E of 16x in the Software industry in Poland. Total returns to shareholders over the past year are 78%.
Valuation Update With 7 Day Price Move • Oct 16Market bids up stock over the past weekAfter last week's 21% share price gain to zł18.00, the stock is trading at a trailing P/E ratio of 9.5x, up from the previous P/E ratio of 7.9x. This compares to an average P/E of 16x in the Software industry in Poland. Total returns to shareholders over the past year are 29%.