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Polish (WIG) Software Industry Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies36
  • 7D5.5%
  • 3M-8.0%
  • 1Y21.4%
  • YTD-10.6%

Over the last 7 days, the Software industry has risen 7.5%, driven by gains from Asseco Poland of 7.4%. During this same period, the Euvic underperformed, falling 8.0%. This means that the industry has gained 23% over the past year. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

Has the Polish Software Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026zł27.7bzł20.1bzł1.1b19.7x26x1.4x
Thu, 19 Mar 2026zł23.5bzł21.8bzł1.1b21.9x22.3x1.1x
Sat, 14 Feb 2026zł23.4bzł21.7bzł1.0b22.3x22.8x1.1x
Mon, 12 Jan 2026zł27.4bzł21.7bzł1.0b24.1x26.7x1.3x
Wed, 10 Dec 2025zł26.3bzł21.7bzł1.0b12.6x25.6x1.2x
Fri, 07 Nov 2025zł24.6bzł21.2bzł991.9m18.2x24.8x1.2x
Sun, 05 Oct 2025zł27.7bzł21.2bzł986.7m18.2x28.1x1.3x
Tue, 02 Sep 2025zł22.5bzł20.8bzł999.1m22x22.5x1.1x
Thu, 31 Jul 2025zł24.5bzł20.8bzł1.0b21.3x24.2x1.2x
Sat, 28 Jun 2025zł23.5bzł20.8bzł1.0b22x23.2x1.1x
Mon, 26 May 2025zł21.1bzł20.5bzł1.0b18.8x21x1x
Wed, 23 Apr 2025zł20.0bzł3.3bzł988.6m16.4x20.3x6.1x
Fri, 21 Mar 2025zł19.9bzł20.1bzł924.8m19.4x21.5x1x
Sun, 16 Feb 2025zł18.1bzł20.1bzł927.1m16.4x19.5x0.9x
Tue, 14 Jan 2025zł15.4bzł20.1bzł926.8m15.7x16.6x0.8x
Thu, 12 Dec 2024zł15.4bzł20.1bzł927.0m14.7x16.6x0.8x
Sat, 09 Nov 2024zł15.1bzł19.8bzł865.6m14.9x17.5x0.8x
Mon, 07 Oct 2024zł14.9bzł19.8bzł858.6m15x17.4x0.8x
Wed, 04 Sep 2024zł16.2bzł19.7bzł842.6m18.9x19.2x0.8x
Fri, 02 Aug 2024zł15.4bzł19.7bzł910.4m20x16.9x0.8x
Sun, 30 Jun 2024zł15.6bzł19.7bzł934.5m20.9x16.7x0.8x
Tue, 28 May 2024zł16.0bzł19.8bzł925.3m18x17.3x0.8x
Thu, 25 Apr 2024zł15.4bzł19.8bzł871.0m21.2x17.7x0.8x
Sat, 23 Mar 2024zł14.9bzł20.2bzł842.8m24.8x17.7x0.7x
Mon, 19 Feb 2024zł14.1bzł20.1bzł837.9m24.8x16.8x0.7x
Wed, 17 Jan 2024zł15.3bzł20.0bzł831.1m26.8x18.4x0.8x
Fri, 15 Dec 2023zł15.7bzł20.0bzł818.5m25.9x19.1x0.8x
Sun, 12 Nov 2023zł15.8bzł20.4bzł823.3m21.8x19.2x0.8x
Tue, 10 Oct 2023zł15.9bzł20.4bzł816.5m23.7x19.4x0.8x
Thu, 07 Sep 2023zł16.3bzł20.4bzł763.2m23.3x21.4x0.8x
Sat, 05 Aug 2023zł16.7bzł20.4bzł754.8m21.3x22.2x0.8x
Mon, 03 Jul 2023zł16.3bzł20.3bzł733.0m21.7x22.2x0.8x
Wed, 31 May 2023zł16.5bzł20.3bzł718.9m21.6x23x0.8x
Fri, 28 Apr 2023zł16.4bzł19.9bzł705.6m23.3x23.3x0.8x
Price to Earnings Ratio

23.3x


Total Market Cap: zł16.4bTotal Earnings: zł705.6mTotal Revenue: zł19.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Software Industry Price to Earnings3Y Average 20.7x202420252026
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 26.4x which is higher than its 3-year average PE of 20.7x.
  • The 3-year average PS ratio of 0.97x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Software industry have grown 15% 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 Market1.51%
Tech6.22%
Software5.45%
Systems Software6.18%
Application Software3.86%
Industry PE
  • Investors are most optimistic about the Application Software industry which is trading above its 3-year average PE ratio of 30.5x.
    • Analysts are expecting annual earnings growth of 14.3%, which is higher than its past year's earnings decline of 10.5% 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 17.5x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 14% over the next 5 years.
  • This is better than its past earnings decline of 10% per year.
  • In contrast, the Systems Software industry is expected to see its earnings grow by 9.5% 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
ACP Asseco Polandzł190.107.4%
+zł1.1b		25.5%PE24.8x
VRC Vercomzł136.608.4%
+zł232.8m		28.1%PE33.4x
WAS Waskozł8.2617.0%
+zł109.4m		351.4%PE14.8x
TXT Textzł40.6210.4%
+zł98.9m		-19.1%PE8.4x
CST CStorezł7.8590.5%
+zł44.1m		n/an/a

Latest News

WAS
zł8.26
Wasko
7D
17.0%
1Y
351.4%
TXT
zł40.62
Text
7D
10.4%
1Y
-19.1%

TXT: Steady PLN 45 Fair Value Will Support Measured Long Term Expectations

Analysts reiterate their PLN 45.00 price target, explaining that only very small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions were needed in their latest update. Valuation Changes Fair Value: PLN 45.00 is unchanged, with the updated model pointing to the same central estimate as before.
ACP
zł190.10
Asseco Poland
7D
7.4%
1Y
25.5%

ACP: Downgrade And Execution Risks Will Pressure Rich Future P/E

Analysts have adjusted their price outlook on Asseco Poland to PLN 157.22. This reflects updated assumptions for the discount rate and forward P/E, as well as a more cautious stance highlighted by recent Street research downgrades.
LSI
zł43.60
LSI Software
7D
21.4%
1Y
181.3%
MAD
zł3.00
Madkom
7D
-30.2%
1Y
27.1%
VRC
zł136.60
Vercom
7D
8.4%
1Y
28.1%
XPL
zł2.70
Xplus
7D
-6.9%
1Y
-17.7%
SHO
zł42.00
Shoper
7D
1.0%
1Y
0.7%
DAT
zł141.80
DataWalk
7D
-3.0%
1Y
59.3%
ABS
zł79.20
Asseco Business Solutions
7D
-2.2%
1Y
1.5%
ALL
zł18.02
Ailleron
7D
12.2%
1Y
-22.8%
CST
zł7.85
CStore
7D
90.5%
1Y
n/a
SVRS
zł5.80
Silvair
7D
-13.4%
1Y
95.9%
PAC
zł0.87
Proacta
7D
-2.8%
1Y
2.4%
WPR
zł2.97
Woodpecker.co
7D
-13.9%
1Y
-23.8%