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Polish (WIG) Financials Sector Analysis

UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies72
  • 7D1.5%
  • 3M16.9%
  • 1Y36.5%
  • YTD6.1%

In the last week, the Financials industry is up 2.9%, with Bank Polska Kasa Opieki leading the way, up 6.2%. In the last 12 months, the industry was up 37%. Earnings are forecast to grow by 3.5% annually.

Sector Valuation and Performance

Has the Polish Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Feb 2026zł502.1bzł180.9bzł48.6b11.9x10.3x2.8x
Wed, 07 Jan 2026zł471.0bzł182.4bzł48.0b10.7x9.8x2.6x
Fri, 05 Dec 2025zł428.5bzł182.4bzł48.0b10x8.9x2.3x
Sun, 02 Nov 2025zł417.9bzł180.8bzł46.7b13.5x9x2.3x
Tue, 30 Sep 2025zł395.7bzł180.8bzł46.7b12.2x8.5x2.2x
Thu, 28 Aug 2025zł418.6bzł179.5bzł46.2b12.1x9.1x2.3x
Sat, 26 Jul 2025zł431.7bzł175.6bzł44.2b12.8x9.8x2.5x
Mon, 23 Jun 2025zł389.9bzł175.9bzł44.2b11.9x8.8x2.2x
Wed, 21 May 2025zł410.8bzł175.5bzł44.2b12.9x9.3x2.3x
Fri, 18 Apr 2025zł403.7bzł173.0bzł42.7b10.1x9.5x2.3x
Sun, 16 Mar 2025zł411.9bzł170.6bzł42.5b11.4x9.7x2.4x
Tue, 11 Feb 2025zł366.4bzł163.7bzł40.0b10.1x9.2x2.2x
Thu, 09 Jan 2025zł331.0bzł163.0bzł39.0b9.8x8.5x2x
Sat, 07 Dec 2024zł330.2bzł163.0bzł39.1b9.4x8.5x2x
Mon, 04 Nov 2024zł311.9bzł160.5bzł39.0b9.3x8x1.9x
Wed, 02 Oct 2024zł319.3bzł159.1bzł37.6b9.2x8.5x2x
Fri, 30 Aug 2024zł345.4bzł160.1bzł37.9b9.5x9.1x2.2x
Sun, 28 Jul 2024zł349.1bzł158.9bzł35.9b8.9x9.7x2.2x
Tue, 25 Jun 2024zł359.4bzł158.7bzł36.2b8.6x9.9x2.3x
Thu, 23 May 2024zł349.4bzł158.1bzł36.2b8.8x9.6x2.2x
Sat, 20 Apr 2024zł369.6bzł155.7bzł34.8b9x10.6x2.4x
Mon, 18 Mar 2024zł361.5bzł155.8bzł34.9b10.6x10.4x2.3x
Wed, 14 Feb 2024zł324.1bzł155.9bzł35.2b10.8x9.2x2.1x
Fri, 12 Jan 2024zł308.1bzł154.5bzł35.3b10.6x8.7x2x
Sun, 10 Dec 2023zł318.3bzł154.4bzł35.3b10.2x9x2.1x
Tue, 07 Nov 2023zł288.3bzł141.6bzł28.0b10.3x10.3x2x
Thu, 05 Oct 2023zł228.3bzł131.1bzł19.5b9.9x11.7x1.7x
Sat, 02 Sep 2023zł248.9bzł127.3bzł18.8b11.1x13.2x2x
Mon, 31 Jul 2023zł261.1bzł123.7bzł17.7b14.5x14.7x2.1x
Wed, 28 Jun 2023zł241.3bzł123.5bzł17.1b13x14.1x2x
Fri, 26 May 2023zł222.3bzł120.8bzł16.9b11.5x13.2x1.8x
Sun, 23 Apr 2023zł221.3bzł116.6bzł15.7b12.3x14.1x1.9x
Tue, 21 Mar 2023zł184.4bzł112.7bzł15.7b10.1x11.7x1.6x
Thu, 16 Feb 2023zł207.3bzł111.8bzł14.1b10.9x14.7x1.9x
Price to Earnings Ratio

14.7x


Total Market Cap: zł207.3bTotal Earnings: zł14.1bTotal Revenue: zł111.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Financials Sector Price to Earnings3Y Average 10.2x202420252026
Current Industry PE
  • Investors are relatively neutral on the Polish Financials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 10.2x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 51% per year over the last three years.
  • Revenues for these companies have grown 17% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Polish Financials sector?

PL Market0.27%
Financials1.47%
Banks1.68%
Insurance1.11%
Mortgage Finance0%0
Consumer Finance-0.17%
Capital Markets-1.13%
Diversified Financial-1.20%
Industry PE
  • Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 11.2x.
    • Analysts are expecting annual earnings growth of 5.4%, which is higher than its past year's earnings decline of 22.1% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading below its 3-year average of 9.3x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 9.4% over the next 5 years.
  • This is better than its past earnings decline of 2.8% per year.
  • In contrast, the Insurance industry is expected to see its earnings decline by 2.4% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
PEO Bank Polska Kasa Opiekizł230.206.2%
+zł3.5b		40.1%PB1.8x
ING ING Bank Slaskizł413.006.4%
+zł3.3b		36.3%PB2.8x
SPL Santander Bank Polskazł580.003.7%
+zł2.1b		15.3%PB1.7x
PZU Powszechny Zaklad Ubezpieczenzł71.421.9%
+zł1.2b		39.8%PE8.9x
MBK mBankzł1.06k2.5%
+zł1.1b		59.2%PB2.2x

Latest News

ALR
zł123.45
Alior Bank
7D
6.3%
1Y
32.1%

ALR: Adjusted Growth Assumptions Will Support Fairly Valued Future Returns

Analysts have trimmed their price target for Alior Bank slightly to €126.43 from €126.68, reflecting updated assumptions around revenue growth, profit margins and a modestly higher future P/E multiple. Valuation Changes Fair Value: Trimmed slightly to €126.43 from €126.68.
SPL
zł580.00
Santander Bank Polska
7D
3.7%
1Y
15.3%
MIL
zł17.78
Bank Millennium
7D
3.4%
1Y
73.6%

MIL: Higher Future P/E Assumptions Will Sustain An Overvalued Share Price

Analysts have slightly raised their price target for Bank Millennium to PLN 15.99667 from PLN 15.56111. This reflects updated assumptions around fair value, discount rate, profit margin and future P/E that they see as better aligned with current fundamentals.
PEO
zł230.20
Bank Polska Kasa Opieki
7D
6.2%
1Y
40.1%

PEO: Neutral View Will Balance Higher Margin Assumptions And Execution Risks

Analysts have raised their price target for Bank Polska Kasa Opieki, increasing their fair value estimate from €215.49 to €217.93 after updating assumptions around the discount rate, revenue growth, profit margin and future P/E levels. Valuation Changes Fair Value Estimate edged higher from €215.49 to €217.93 per share, suggesting only a minor adjustment to the underlying valuation range.
PKO
zł93.16
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
7D
0.6%
1Y
38.1%

PKO: Fair Outlook Will Depend On Margins And Upcoming Shareholder Meeting

Analysts have nudged their price target for Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna higher to reflect a revised fair value of 92.67, underpinned by slightly adjusted assumptions for discount rate, revenue growth, profit margin and future P/E. What's in the News Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna has scheduled a Special or Extraordinary Shareholders Meeting for January 20, 2026, at 10:00 Central European Standard Time (Key Developments).
ING
zł413.00
ING Bank Slaski
7D
6.4%
1Y
36.3%

ING: Future Earnings Power Will Support Fair Outlook With Refined Assumptions

Analysts have kept their price target on ING Bank Slaski steady while slightly adjusting assumptions around discount rate, revenue growth, profit margin and future P/E. This reflects refreshed views on the bank's risk profile and earnings potential without changing their overall valuation stance.
MBK
zł1,064.00
mBank
7D
2.5%
1Y
59.2%

MBK: Higher Margin And P/E Assumptions Will Ultimately Prove Too Optimistic

Analysts have lifted their fair value estimate for mBank from €626.00 to about €841.34, citing updated assumptions around revenue growth, profit margins, and the future P/E multiple that together point to a higher central valuation range. Valuation Changes Fair Value Estimate was lifted from €626.00 to about €841.34, marking a sizeable upward shift in the central value range used in the model.
KRU
zł487.80
KRUK Spólka Akcyjna
7D
-0.2%
1Y
11.4%

KRU: Stable Assumptions And Slightly Lower Discount Rate Will Support Fair Value

Analysts have kept their price target for KRUK Spólka Akcyjna steady at €532.10, supported by unchanged fair value estimates alongside only minor tweaks to inputs such as discount rate, revenue growth, profit margin and future P/E assumptions. Valuation Changes Fair Value: The fair value estimate remains at €532.10 per share, with no change between the previous and updated models.
PZU
zł71.42
Powszechny Zaklad Ubezpieczen
7D
1.9%
1Y
39.8%
VOT
zł47.50
Votum
7D
-0.9%
1Y
23.1%
SKH
zł36.20
Skarbiec Holding
7D
-4.0%
1Y
64.5%

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IFR
zł0.17
Investment Friends
7D
-27.6%
1Y
n/a
MCI
zł27.50
MCI Capital Alternatywna Spólka Inwestycyjna
7D
-2.5%
1Y
7.4%
JRH
zł4.60
JR Holding ASI
7D
-2.1%
1Y
-36.1%
CTF
zł1.39
Centurion Finance ASI Spólka Akcyjna
7D
-14.2%
1Y
n/a