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Polish (WIG) Market Analysis & Valuation

UpdatedJul 05, 2026
DataAggregated Company Financials
Companies640
  • 7D2.8%
  • 3M7.0%
  • 1Y24.2%
  • YTD12.3%

The market has climbed 2.8% over the last week, with theFinancials and Real Estate sectors leading the way. As for the past 12 months, the market is up 24%. As for the next few years, earnings are expected to grow by 12% per annum.

Trending IndustriesBiotechSoftware

Market Valuation and Performance

Has the Polish Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Jul 2026zł1.3tzł1.2tzł78.4b13.2x16.7x1.1x
Tue, 02 Jun 2026zł1.3tzł1.2tzł91.9b12.8x14.2x1.1x
Thu, 30 Apr 2026zł1.2tzł1.2tzł81.5b13.1x15.3x1.1x
Sat, 28 Mar 2026zł1.2tzł1.2tzł71.3b12.2x16.3x1x
Mon, 23 Feb 2026zł1.2tzł1.2tzł69.4b13.1x17.5x1x
Wed, 21 Jan 2026zł1.2tzł1.2tzł63.3b13.1x18.3x1x
Fri, 19 Dec 2025zł1.1tzł1.2tzł58.8b11.9x18.7x0.9x
Sun, 16 Nov 2025zł1.1tzł1.2tzł55.8b13x19.5x0.9x
Tue, 14 Oct 2025zł1.0tzł1.2tzł55.1b13.4x19x0.9x
Thu, 11 Sep 2025zł1.0tzł1.2tzł58.6b12.8x17.6x0.9x
Sat, 09 Aug 2025zł1.1tzł1.2tzł55.7b12.9x19.5x0.9x
Mon, 07 Jul 2025zł1.0tzł1.2tzł54.0b12.9x19.4x0.9x
Wed, 04 Jun 2025zł995.1bzł1.2tzł53.9b13.4x18.5x0.8x
Fri, 02 May 2025zł1.0tzł1.2tzł46.3b12.9x21.6x0.8x
Sun, 30 Mar 2025zł992.2bzł1.2tzł51.1b12.8x19.4x0.8x
Tue, 25 Feb 2025zł928.9bzł1.2tzł43.9b12.7x21.1x0.8x
Thu, 23 Jan 2025zł854.8bzł1.2tzł42.9b11.6x19.9x0.7x
Sat, 21 Dec 2024zł804.1bzł1.2tzł42.4b10.8x19x0.7x
Mon, 18 Nov 2024zł807.7bzł1.2tzł50.9b11.5x15.9x0.7x
Wed, 16 Oct 2024zł822.6bzł1.2tzł53.4b11.6x15.4x0.7x
Fri, 13 Sep 2024zł814.2bzł1.2tzł55.8b11.7x14.6x0.7x
Sun, 11 Aug 2024zł804.3bzł1.2tzł57.9b11.6x13.9x0.7x
Tue, 09 Jul 2024zł890.9bzł1.2tzł58.1b12.4x15.3x0.7x
Thu, 06 Jun 2024zł868.3bzł1.2tzł57.9b12.6x15x0.7x
Sat, 04 May 2024zł873.1bzł1.3tzł65.4b12x13.4x0.7x
Mon, 01 Apr 2024zł874.0bzł1.3tzł85.1b12.6x10.3x0.7x
Wed, 28 Feb 2024zł877.0bzł1.3tzł86.7b12.6x10.1x0.7x
Fri, 26 Jan 2024zł805.5bzł1.3tzł90.6b12.6x8.9x0.6x
Sun, 24 Dec 2023zł840.6bzł1.3tzł91.3b12.4x9.2x0.7x
Tue, 21 Nov 2023zł800.9bzł1.3tzł93.0b11.9x8.6x0.6x
Thu, 19 Oct 2023zł755.2bzł1.3tzł88.1b12.1x8.6x0.6x
Sat, 16 Sep 2023zł725.0bzł1.2tzł91.5b12.5x7.9x0.6x
Mon, 14 Aug 2023zł763.9bzł1.2tzł93.9b13.3x8.1x0.6x
Wed, 12 Jul 2023zł746.7bzł1.2tzł92.7b13x8.1x0.6x
Price to Earnings Ratio

8.1x


Total Market Cap: zł746.7bTotal Earnings: zł92.7bTotal Revenue: zł1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Market Price to Earnings3Y Average 15.3x202420252026
Current Market PE
  • Investors are relatively neutral on the Polish market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 15.3x.
Past Earnings Growth
  • The earnings for Polish listed companies have declined 5.4% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Polish Market?

PL Market2.77%
Energy7.63%
Tech5.11%
Telecom3.80%
Healthcare3.65%
Industrials2.59%
Financials2.25%
Materials1.74%
Consumer Discretionary1.67%
Utilities1.20%
Real Estate0.10%
Consumer Staples-0.35%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 4.0x.
    • Analysts are expecting annual earnings growth of 6.8%, which is lower than the prior year's growth of 11.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 39% over the next 5 years.
  • This is better than its past earnings decline of 6.5% per year.
  • In contrast, the Healthcare industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
PKN Orlenzł132.927.7%
+zł11.0b		57.3%PE23.9xEnergy
PZU Powszechny Zaklad Ubezpieczenzł68.264.3%
+zł2.4b		10.6%PE9.4xFinancials
PKO Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjnazł105.241.6%
+zł2.0b		36.8%PB2.2xFinancials
XTB XTBzł118.4013.7%
+zł1.7b		58.8%PE14.1xFinancials
CDR CD Projektzł233.407.4%
+zł1.6b		-13.5%PE45.2xTelecom
See more

Market Insights

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Markets are supposed to reprice risk when it changes. This time they've repriced the promise, but left the threat largely untouched. Whether that's an oversight or a fair call is worth thinking through.
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Latest News

KGH
zł335.00
KGHM Polska Miedz
7D
2.2%
1Y
152.9%
PCO
zł37.06
Pepco Group
7D
-0.5%
1Y
71.8%
OPL
zł14.37
Orange Polska
7D
-1.7%
1Y
55.0%
Narrative Update • Jul 01

OPL: 2026 Outlook And Rich P E Multiple Will Shape Returns

Analysts have adjusted their price target for Orange Polska to PLN 13.76 from PLN 12.16, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What’s in the News for Orange Polska Orange Polska provided earnings guidance for 2026, indicating an expectation for revenue to change at a low single digit level, according to company guidance.
MBK
zł1,404.00
mBank
7D
2.3%
1Y
78.4%
Narrative Update • Jun 29

MBK: Updated Fair Value And Higher Future P/E Will Shape Returns

The analyst price target for mBank has shifted from PLN 1,224.00 to PLN 1,291.00. Analysts link this change to updated fair value estimates, a slightly lower discount rate, and adjustments to revenue growth, profit margin, and future P/E assumptions.
EAT
zł10.80
AmRest Holdings
7D
-4.4%
1Y
-31.3%
Narrative Update • Jun 26

EAT: Slower Revenue Outlook Will Pressure Future Earnings Multiple And Share Price

Analysts have revised their price target for AmRest Holdings from PLN 11.90 to PLN 10.40. This change reflects updated expectations around slower revenue growth, a higher projected profit margin, and a lower future P/E multiple.
PZU
zł68.26
Powszechny Zaklad Ubezpieczen
7D
4.3%
1Y
10.6%
Narrative Update • Jun 26

PZU: Higher Margin Outlook And Dividend Payout Will Shape Returns

Analysts have raised their price target for Powszechny Zaklad Ubezpieczen from PLN 66.22 to PLN 71.33, citing updated assumptions that combine a slightly higher discount rate and P/E multiple with expectations for lower revenue growth but a higher profit margin. What's in the News Powszechny Zaklad Ubezpieczen SA declared an annual dividend of PLN 4.80 per share.
PKN
zł132.92
Orlen
7D
7.7%
1Y
57.3%
Narrative Update • Jun 24

PKN: Future Returns Will Reflect Tighter Margins And Calmer Revenue Contraction

Analysts have lifted their Orlen price target from PLN 131.11 to PLN 133.89, citing updated assumptions around revenue trends, profit margins and a slightly lower projected future P/E multiple. What's in the News for Orlen No recent Orlen news items were available in the provided sources.
GTC
zł2.18
Globe Trade Centre
7D
-13.5%
1Y
-46.8%
Narrative Update • Jun 24

GTC: Fair Outlook Will Reflect New Bylaws And Adjusted Profitability Assumptions

Analysts have nudged their price target on Globe Trade Centre slightly higher to PLN 2.61 from PLN 2.60, citing updated assumptions around profit margins and a modestly lower future P/E multiple. What’s in the News for Globe Trade Centre Globe Trade Centre held an Extraordinary General Meeting on April 14, 2026, where shareholders approved amendments to the company’s articles of association.
ALE
zł38.44
Allegro.eu
7D
3.3%
1Y
11.7%
Narrative Update • Jun 23

ALE: Governance Revisions And Steady Assumptions Will Shape Future Return Potential

Analysts have trimmed their price target for Allegro.eu slightly to PLN38.65, reflecting updated assumptions for the discount rate, revenue, profit margin, and future P/E that broadly align with previous expectations. What’s in the News for Allegro.eu Allegro.eu has scheduled a Special and Extraordinary Shareholders Meeting for June 25, 2026, at 15:00 W.
PKO
zł105.24
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
7D
1.6%
1Y
36.8%
Narrative Update • Jun 22

PKO: Dividend Outlook And Recent Downgrade Will Shape Balanced Prospects

Analysts have trimmed their price target for Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna to PLN106.33, reflecting a slightly higher assumed discount rate and updated profit margin and future P/E inputs following more cautious recent research. What's in the News Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna announced an annual dividend of PLN 6.1400 per share.
BHW
zł122.20
Bank Handlowy w Warszawie
7D
-0.7%
1Y
8.9%
Narrative Update • Jun 17

BHW: Demerger Vote Will Highlight Risks To Future Margin Stability

Analysts are maintaining their PLN price target for Bank Handlowy w Warszawie at around PLN 110. This reflects slightly improved expectations for revenue trends, profit margin, and future P/E levels in their updated assumptions.
CDR
zł233.40
CD Projekt
7D
7.4%
1Y
-13.5%
Narrative Update • Jun 15

CDR: Neutral Rating Shift Will Support Future Shareholder Value Reappraisal

Narrative Update The analyst price target for CD Projekt has been set at PLN 230. This reflects updated assumptions around slightly lower discount rates, modestly higher revenue growth expectations, a reduced profit margin outlook, and a higher future P/E multiple as analysts reassess the risk and reward profile for the stock.
XTB
zł118.40
XTB
7D
13.7%
1Y
58.8%
STP
zł209.00
Stalprodukt
7D
-7.5%
1Y
-19.9%
DNP
zł27.70
Dino Polska
7D
-4.4%
1Y
-46.9%
PEP
zł60.60
Polenergia
7D
-1.6%
1Y
0.7%