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Polish (WIG) Software Industry Analysis

UpdatedAug 25, 2025
DataAggregated Company Financials
Companies32
  • 7D1.6%
  • 3M6.9%
  • 1Y49.4%
  • YTD47.4%

Over the last 7 days, the Software industry has risen 2.6%, driven by gains from Asseco Poland of 5.4%. In the last 12 months, the industry was up 49%. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 25 Aug 2025zł23.3bzł20.8bzł1.0b20.7x23.1x1.1x
Wed, 23 Jul 2025zł24.5bzł20.8bzł1.0b21.5x24.2x1.2x
Fri, 20 Jun 2025zł22.4bzł20.8bzł1.0b20.7x22.1x1.1x
Sun, 18 May 2025zł22.1bzł20.4bzł995.8m18.8x22.2x1.1x
Tue, 15 Apr 2025zł19.3bzł20.4bzł985.3m16.5x19.6x0.9x
Thu, 13 Mar 2025zł19.0bzł20.1bzł932.6m18.9x20.3x0.9x
Sat, 08 Feb 2025zł17.3bzł20.1bzł927.0m16.1x18.7x0.9x
Mon, 06 Jan 2025zł16.3bzł20.1bzł926.9m15.6x17.6x0.8x
Wed, 04 Dec 2024zł15.2bzł20.1bzł926.9m16x16.4x0.8x
Fri, 01 Nov 2024zł15.1bzł19.8bzł863.2m15.9x17.5x0.8x
Sun, 29 Sep 2024zł15.9bzł19.8bzł862.8m16.6x18.4x0.8x
Tue, 27 Aug 2024zł15.6bzł19.7bzł909.9m18.8x17.1x0.8x
Thu, 25 Jul 2024zł15.5bzł19.7bzł909.8m18.7x17x0.8x
Sat, 22 Jun 2024zł15.6bzł19.7bzł939.7m20.9x16.6x0.8x
Mon, 20 May 2024zł16.1bzł19.8bzł920.2m20.3x17.5x0.8x
Wed, 17 Apr 2024zł15.5bzł19.8bzł879.0m22.2x17.6x0.8x
Fri, 15 Mar 2024zł15.1bzł20.2bzł843.1m25.4x17.9x0.7x
Sun, 11 Feb 2024zł15.3bzł20.1bzł830.5m24.7x18.4x0.8x
Tue, 09 Jan 2024zł15.3bzł20.0bzł831.0m25.8x18.4x0.8x
Thu, 07 Dec 2023zł15.7bzł20.0bzł815.9m25.3x19.2x0.8x
Sat, 04 Nov 2023zł16.3bzł20.4bzł823.5m23.1x19.8x0.8x
Mon, 02 Oct 2023zł16.0bzł20.4bzł813.6m22.3x19.7x0.8x
Wed, 30 Aug 2023zł15.9bzł20.4bzł763.3m22.9x20.9x0.8x
Fri, 28 Jul 2023zł16.9bzł20.3bzł754.3m21.8x22.4x0.8x
Sun, 25 Jun 2023zł15.9bzł20.3bzł732.9m20.4x21.7x0.8x
Tue, 23 May 2023zł17.4bzł19.9bzł715.6m21.5x24.3x0.9x
Thu, 20 Apr 2023zł16.0bzł19.6bzł685.2m20.7x23.3x0.8x
Sat, 18 Mar 2023zł15.3bzł19.5bzł705.7m21.7x21.7x0.8x
Mon, 13 Feb 2023zł15.7bzł19.4bzł686.1m17x22.9x0.8x
Wed, 11 Jan 2023zł14.4bzł19.4bzł686.5m15x21x0.7x
Fri, 09 Dec 2022zł13.9bzł19.4bzł689.5m15.5x20.2x0.7x
Sun, 06 Nov 2022zł13.8bzł18.3bzł681.8m17.9x20.3x0.8x
Tue, 04 Oct 2022zł13.4bzł18.3bzł678.3m16.8x19.8x0.7x
Thu, 01 Sep 2022zł13.8bzł17.3bzł766.6m17.5x18x0.8x
Price to Earnings Ratio

18x


Total Market Cap: zł13.8bTotal Earnings: zł766.6mTotal Revenue: zł17.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Software Industry Price to Earnings3Y Average 19.8x202320242025
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 23.1x which is higher than its 3-year average PE of 19.8x.
  • The 3-year average PS ratio of 0.88x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Software industry have grown 9.7% per year over the last three years.
  • Revenues for these companies have grown 6.3% 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 Tech industry?

PL Market-2.09%
Tech1.46%
Software1.57%
Systems Software2.47%
Application Software-0.63%
Industry PE
  • Investors are most optimistic about the Systems Software industry which is trading above its 3-year average PE ratio of 15.4x.
    • Analysts are expecting annual earnings growth of 11.1%, which is lower than the prior year's growth of 104.5% per year.
  • Investors are most pessimistic about the Application Software industry, which is trading below its 3-year average of 36.8x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 15% over the next 5 years.
  • However this is lower than its past earnings growth rate of 20% per year.
  • In contrast, the Systems Software industry is expected to see its earnings grow by 11% 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 Polandzł197.705.3%
+zł675.1m		120.4%PE25.4x
SHO Shoperzł49.706.4%
+zł84.4m		7.8%PE35.3x
IFI Ifirmazł31.0513.1%
+zł23.0m		32.1%PE15.7x
CLD Cloud Technologieszł48.604.7%
+zł9.9m		-19.3%PE20.5x
SVRS Silvairzł6.755.5%
+zł6.1m		89.6%PS10.2x

Latest News

B24
zł55.00
Brand 24
7D
-3.2%
1Y
17.0%
LSI
zł30.00
LSI Software
7D
-1.3%
1Y
94.8%
SVRS
zł6.75
Silvair
7D
5.5%
1Y
89.6%
IFI
zł31.05
Ifirma
7D
13.1%
1Y
32.1%
XPL
zł3.48
Xplus
7D
-2.8%
1Y
124.5%
CLD
zł48.60
Cloud Technologies
7D
4.7%
1Y
-19.3%
WAS
zł1.76
Wasko
7D
-0.6%
1Y
8.6%
VRC
zł117.00
Vercom
7D
-4.9%
1Y
6.8%
VEE
zł13.40
Vee
7D
-22.5%
1Y
-29.2%
EON
zł25.40
eo Networks
7D
10.4%
1Y
71.6%
BSH
zł21.60
Bridge Solutions Hub
7D
13.4%
1Y
105.7%
ACP
zł197.70
Asseco Poland
7D
5.3%
1Y
120.4%

Overvaluation Risk Will Remain As European And US Markets Expand

The notable increase in Asseco Poland’s consensus price target primarily reflects a substantial upward revision in its future P/E multiple despite unchanged revenue growth forecasts, with fair value raised from PLN105.46 to PLN123.22. What's in the News Asseco Poland has completed the share buyback program announced in June 2023, repurchasing 14,808,872 shares (17.84%) for PLN 1,184.71 million, with no additional shares repurchased in subsequent tranches.
MAD
zł3.20
Madkom
7D
14.3%
1Y
93.9%
TXT
zł56.35
Text
7D
-0.3%
1Y
-30.1%
SHO
zł49.70
Shoper
7D
6.4%
1Y
7.8%
ALL
zł18.90
Ailleron
7D
-0.5%
1Y
-3.1%