Narrative Update • Jun 22
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- 7D2.1%
- 3M-1.1%
- 1Y-5.5%
- YTD-11.3%
Over the last 7 days, the Software industry has risen 2.1%, driven by gains from Asseco Poland of 4.6%. However, the industry is down 5.5% over the past year. Earnings are forecast to grow by 8.2% annually.
Industry Valuation and Performance
Has the Polish Software Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 23 Jul 2026 | zł27.4b | zł20.6b | zł1.2b | 16.3x | 23.4x | 1.3x |
| Sat, 20 Jun 2026 | zł25.2b | zł20.5b | zł1.3b | 17.3x | 19.6x | 1.2x |
| Mon, 18 May 2026 | zł26.6b | zł20.1b | zł1.1b | 14.7x | 24.4x | 1.3x |
| Wed, 15 Apr 2026 | zł26.7b | zł20.1b | zł1.1b | 19.9x | 25.1x | 1.3x |
| Fri, 13 Mar 2026 | zł23.8b | zł21.8b | zł1.1b | 21.1x | 22.6x | 1.1x |
| Sun, 08 Feb 2026 | zł24.3b | zł21.8b | zł1.0b | 22.7x | 23.8x | 1.1x |
| Tue, 06 Jan 2026 | zł27.3b | zł21.7b | zł1.0b | 24x | 26.5x | 1.3x |
| Thu, 04 Dec 2025 | zł24.5b | zł20.1b | zł857.9m | 12.4x | 28.6x | 1.2x |
| Sat, 01 Nov 2025 | zł25.6b | zł21.2b | zł992.2m | 18.9x | 25.8x | 1.2x |
| Mon, 29 Sep 2025 | zł24.6b | zł21.2b | zł983.1m | 17.5x | 25x | 1.2x |
| Wed, 27 Aug 2025 | zł23.7b | zł20.8b | zł1.0b | 21.7x | 23.4x | 1.1x |
| Fri, 25 Jul 2025 | zł24.4b | zł20.8b | zł1.0b | 21.9x | 24.1x | 1.2x |
| Sun, 22 Jun 2025 | zł22.7b | zł20.8b | zł1.0b | 21.2x | 22.5x | 1.1x |
| Tue, 20 May 2025 | zł22.2b | zł20.4b | zł994.3m | 19x | 22.4x | 1.1x |
| Thu, 17 Apr 2025 | zł19.3b | zł20.4b | zł985.3m | 16.5x | 19.6x | 0.9x |
| Sat, 15 Mar 2025 | zł19.4b | zł20.1b | zł932.6m | 18.4x | 20.8x | 1x |
| Mon, 10 Feb 2025 | zł17.3b | zł20.1b | zł927.0m | 16.1x | 18.7x | 0.9x |
| Wed, 08 Jan 2025 | zł15.9b | zł20.1b | zł926.9m | 15.8x | 17.1x | 0.8x |
| Fri, 06 Dec 2024 | zł15.5b | zł20.1b | zł927.0m | 15.4x | 16.7x | 0.8x |
| Sun, 03 Nov 2024 | zł15.1b | zł19.8b | zł863.1m | 14.9x | 17.5x | 0.8x |
| Tue, 01 Oct 2024 | zł15.7b | zł19.8b | zł862.8m | 17.1x | 18.2x | 0.8x |
| Thu, 29 Aug 2024 | zł15.7b | zł19.7b | zł897.5m | 18.9x | 17.4x | 0.8x |
| Sat, 27 Jul 2024 | zł15.3b | zł19.7b | zł909.8m | 19.1x | 16.8x | 0.8x |
| Mon, 24 Jun 2024 | zł15.6b | zł19.7b | zł934.5m | 20.8x | 16.7x | 0.8x |
| Wed, 22 May 2024 | zł16.4b | zł19.8b | zł920.9m | 20.4x | 17.8x | 0.8x |
| Fri, 19 Apr 2024 | zł15.2b | zł19.8b | zł878.2m | 21.3x | 17.3x | 0.8x |
| Sun, 17 Mar 2024 | zł14.8b | zł20.2b | zł842.9m | 22.5x | 17.6x | 0.7x |
| Tue, 13 Feb 2024 | zł15.4b | zł20.1b | zł830.5m | 24.7x | 18.5x | 0.8x |
| Thu, 11 Jan 2024 | zł15.3b | zł20.0b | zł831.0m | 26.6x | 18.4x | 0.8x |
| Sat, 09 Dec 2023 | zł15.7b | zł20.0b | zł815.9m | 26.1x | 19.3x | 0.8x |
| Mon, 06 Nov 2023 | zł16.0b | zł20.4b | zł823.5m | 23.1x | 19.4x | 0.8x |
| Wed, 04 Oct 2023 | zł15.8b | zł20.4b | zł813.2m | 22.3x | 19.5x | 0.8x |
| Fri, 01 Sep 2023 | zł16.0b | zł20.4b | zł763.3m | 23.1x | 20.9x | 0.8x |
| Sun, 30 Jul 2023 | zł17.0b | zł20.3b | zł754.3m | 21.5x | 22.5x | 0.8x |
Price to Earnings Ratio
22.5x
Current Industry PE
- Investors are optimistic on the Polish Software industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 23.4x which is higher than its 3-year average PE of 20.7x.
- The 3-year average PS ratio of 1.0x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
- The earnings for companies in the Software industry have grown 16% per year over the last three years, while revenues have remained mostly flat.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Industry Trends
Which industries have driven the changes within the Polish Tech industry?
| PL Market | 0.32% | |
| Tech | -0.82% | |
| Software | 2.08% | |
| Systems Software | 3.39% | |
| Application Software | -0.84% | |
Industry PE
- Investors are most optimistic about the Application Software industry which is trading above its 3-year average PE ratio of 27.8x.
- Analysts are expecting annual earnings growth of 17.6%, which is lower than the prior year's growth of 22.3% per year.
- Investors are most pessimistic about the Systems Software industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 18.0x.
Forecasted Growth
- Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 18% over the next 5 years.
- However this is lower than its past earnings growth rate of 22% per year.
- In contrast, the Systems Software industry is expected to see its earnings grow by 5.0% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| ACP Asseco Poland | zł185.70 | 2.1% +zł314.0m | -9.8% | PE20.8x | |
| DAT DataWalk | zł120.00 | 5.3% +zł42.8m | 6.2% | PS30.2x | |
| ABS Asseco Business Solutions | zł86.20 | 1.2% +zł32.8m | -3.4% | PE19.2x | |
| CLD Cloud Technologies | zł101.50 | 5.9% +zł25.0m | 121.6% | PE40.8x | |
| SHO Shoper | zł42.10 | 1.2% +zł14.1m | -14.6% | PE27.3x |