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Polish (WIG) Financials Sector Analysis

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies70
  • 7D-3.7%
  • 3M13.9%
  • 1Y36.5%
  • YTD14.1%

Over the last 7 days, the Financials industry has dropped 3.7%, driven by Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna declining 3.0%. In contrast, Votum has gained 5.9%. In the past year, the industry has gained 37%. Earnings are forecast to grow by 6.3% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Jun 2026zł539.8bzł181.4bzł48.3b11.8x11.2x3x
Sat, 23 May 2026zł520.7bzł180.9bzł48.3b10.9x10.8x2.9x
Mon, 20 Apr 2026zł551.8bzł180.6bzł49.6b11.4x11.1x3.1x
Wed, 18 Mar 2026zł479.5bzł177.7bzł49.7b11.6x9.6x2.7x
Fri, 13 Feb 2026zł504.2bzł181.5bzł49.3b12x10.2x2.8x
Sun, 11 Jan 2026zł471.9bzł182.4bzł48.0b10.6x9.8x2.6x
Tue, 09 Dec 2025zł429.5bzł182.4bzł48.0b9.9x8.9x2.4x
Thu, 06 Nov 2025zł421.5bzł181.0bzł46.7b12.9x9x2.3x
Sat, 04 Oct 2025zł405.5bzł180.8bzł46.7b12.3x8.7x2.2x
Mon, 01 Sep 2025zł405.8bzł180.0bzł46.6b12.3x8.7x2.3x
Wed, 30 Jul 2025zł431.6bzł176.1bzł44.3b12.3x9.7x2.5x
Fri, 27 Jun 2025zł401.8bzł175.6bzł44.2b12.1x9.1x2.3x
Sun, 25 May 2025zł399.3bzł175.8bzł44.2b12.4x9x2.3x
Tue, 22 Apr 2025zł403.7bzł173.0bzł42.7b10.4x9.5x2.3x
Thu, 20 Mar 2025zł419.2bzł170.6bzł42.5b11x9.9x2.5x
Sat, 15 Feb 2025zł376.8bzł163.7bzł40.0b10.8x9.4x2.3x
Mon, 13 Jan 2025zł336.4bzł163.0bzł39.0b9.9x8.6x2.1x
Wed, 11 Dec 2024zł332.2bzł163.0bzł39.1b9.2x8.5x2x
Fri, 08 Nov 2024zł333.1bzł158.4bzł38.7b9.3x8.6x2.1x
Sun, 06 Oct 2024zł314.7bzł159.1bzł37.6b8.9x8.4x2x
Tue, 03 Sep 2024zł353.3bzł159.2bzł37.9b9.5x9.3x2.2x
Thu, 01 Aug 2024zł350.9bzł158.8bzł36.0b8.7x9.8x2.2x
Sat, 29 Jun 2024zł366.7bzł158.7bzł36.2b9x10.1x2.3x
Mon, 27 May 2024zł351.2bzł158.8bzł36.2b8.7x9.7x2.2x
Wed, 24 Apr 2024zł377.4bzł155.7bzł34.8b9x10.8x2.4x
Fri, 22 Mar 2024zł371.7bzł155.6bzł34.9b10.3x10.6x2.4x
Sun, 18 Feb 2024zł337.8bzł156.6bzł35.2b11x9.6x2.2x
Tue, 16 Jan 2024zł307.0bzł154.5bzł35.3b10.4x8.7x2x
Thu, 14 Dec 2023zł316.7bzł154.4bzł35.3b10.7x9x2.1x
Sat, 11 Nov 2023zł288.2bzł149.1bzł34.1b9.9x8.5x1.9x
Mon, 09 Oct 2023zł240.2bzł131.1bzł19.5b10.1x12.3x1.8x
Wed, 06 Sep 2023zł242.6bzł131.3bzł42.2b10.7x5.8x1.8x
Fri, 04 Aug 2023zł255.1bzł124.6bzł17.8b14.5x14.3x2x
Sun, 02 Jul 2023zł243.2bzł123.2bzł17.1b13.4x14.2x2x
Price to Earnings Ratio

14.2x


Total Market Cap: zł243.2bTotal Earnings: zł17.1bTotal Revenue: zł123.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Financials Sector Price to Earnings3Y Average 9.8x202420252026
Current Industry PE
  • Investors are optimistic on the Polish Financials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 11.2x which is higher than its 3-year average PE of 9.8x.
  • The 3-year average PS ratio of 2.3x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 41% per year over the last three years.
  • Revenues for these companies have grown 14% 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 Market-4.03%
Financials-3.75%
Diversified Financial0.35%
Mortgage Finance0%0
Consumer Finance-0.89%
Capital Markets-1.10%
Insurance-3.77%
Banks-3.92%
Industry PE
  • Investors are most optimistic about the Diversified Financial industry which is trading above its 3-year average PE ratio of 9.1x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Consumer Finance industry, which is trading below its 3-year average of 8.5x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 7.8% over the next 5 years.
  • However this is lower than its past earnings growth rate of 29% per year.
  • In contrast, the Capital Markets industry is expected to see its earnings decline by 5.2% 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
EBP Erste Bank Polskazł646.400.4%
+zł265.7m		36.7%PB1.9x
KRU KRUK Spólka Akcyjnazł403.301.4%
+zł105.5m		0.7%PE7.2x
GPW Gielda Papierów Wartosciowych w Warszawiezł86.851.7%
+zł60.9m		73.7%PE17x
RNC REINO Capitalzł1.6727.5%
+zł31.5m		60.6%PE46.2x
VOT Votumzł45.904.1%
+zł21.6m		2.7%PE4.4x

Latest News

RNC
zł1.67
REINO Capital
7D
27.5%
1Y
60.6%
ING
zł445.80
ING Bank Slaski
7D
-3.1%
1Y
42.7%
Narrative Update • Jun 24

ING: Higher Margin Assumptions Will Keep Expensive Earnings Multiple At Risk

Analysts have raised their price target for ING Bank Slaski to PLN 406 from PLN 382.28, citing updated assumptions for profit margins and the future P/E multiple as the main drivers of the change. What's in the News Analysts adjusted their profit margin assumptions for ING Bank Slaski, which feeds directly into the updated valuation framework.
PEO
zł230.00
Bank Polska Kasa Opieki
7D
-2.4%
1Y
26.3%
Narrative Update • Jun 24

PEO: Neutral Outlook Will Weigh Stable Earnings Profile Against Dividend And Execution Risk

Analysts have made a modest upward revision to the Bank Polska Kasa Opieki price target, lifting it by about PLN 2 to reflect slightly higher modeled fair value, a marginally adjusted discount rate, and small refinements to revenue growth, profit margin, and future P/E assumptions. What's in the News There are currently no recent public news items provided for Bank Polska Kasa Opieki in the supplied sources.
BNP
zł147.20
BNP Paribas Bank Polska
7D
-9.7%
1Y
37.6%
MIL
zł19.65
Bank Millennium
7D
-4.7%
1Y
41.1%
Narrative Update • Jun 22

MIL: Future Returns Will Depend On Compressed Margins And Richer Forward P E Multiple

Analysts have fractionally adjusted their price target for Bank Millennium to PLN16.91 from PLN16.92, citing updated assumptions around revenue growth, profit margins, the discount rate and the forward P/E multiple. What’s in the News for Bank Millennium No recent Bank Millennium news items were available from the provided primary sources.
PKO
zł104.20
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
7D
-1.2%
1Y
41.4%
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.
EBP
zł646.40
Erste Bank Polska
7D
0.4%
1Y
36.7%
Narrative Update • Jun 22

EBP: Updated Assumptions Will Shape Future Balance Of Risk And Reward

The analyst price target for Erste Bank Polska has been adjusted slightly from PLN 635.87 to PLN 633.99. Analysts point to updated assumptions around revenue growth, profit margin and future P/E as the key drivers of the recalibration.
GPW
zł86.85
Gielda Papierów Wartosciowych w Warszawie
7D
1.7%
1Y
73.7%
Narrative Update • Jun 18

GPW: Future Dividend Will Not Justify Rich Stock P E Multiple

Analysts have kept their PLN fair value estimate for Gielda Papierów Wartosciowych w Warszawie essentially unchanged at PLN 73.37, attributing this to very small adjustments in discount rate, revenue growth and profit margin assumptions rather than any shift in their broader view of the stock. What's in the News Gielda Papierów Wartosciowych w Warszawie S.A. announced an annual dividend of PLN 3.40 per share, with payment scheduled for August 6, 2026, according to a key developments update.
PRA
zł0.80
Prime Alternatywna Spolka Inwestycyjna Spolka Akcyjna
7D
9.7%
1Y
-19.7%
BHW
zł122.20
Bank Handlowy w Warszawie
7D
-9.5%
1Y
4.4%
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.
MBK
zł1,382.00
mBank
7D
-3.7%
1Y
79.2%
Narrative Update • Jun 15

MBK: Higher P/E Assumptions Will Sustain An Overvalued Outlook

Analysts have raised their price target on mBank to PLN 1,112.66 from PLN 1,013.18, reflecting updated assumptions regarding fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News No recent news items, periodical coverage or key developments were provided for mBank, so there are currently no specific events to highlight based on the available sources.
KRU
zł403.30
KRUK Spólka Akcyjna
7D
1.4%
1Y
0.7%
Narrative Update • Jun 14

KRU: Cautious Downgrade Will Set Up Future Dividend Repricing Potential

Analysts have maintained their fair value estimate for KRUK Spólka Akcyjna at PLN 540.40. A slightly lower discount rate and recent cautious research, including Citi's downgrade, highlight a more conservative stance on the stock's risk profile rather than on its long term earnings assumptions.
APC
zł4.40
Apollo Capital ASI Spólka Akcyjna
7D
144.4%
1Y
658.6%
MCI
zł28.30
MCI Capital Alternatywna Spólka Inwestycyjna
7D
1.1%
1Y
3.7%
PZU
zł65.88
Powszechny Zaklad Ubezpieczen
7D
-2.5%
1Y
5.4%
VOT
zł45.90
Votum
7D
4.1%
1Y
2.7%