Narrative Update • Jun 05
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- 7D-3.6%
- 3M7.9%
- 1Y2.9%
- YTD-12.0%
Over the last 7 days, the Software industry has dropped 3.6%, driven by declines in Asseco Poland and Vercom of 2.7% and 13%, respectively. On the other hand Stohid Technology is actually up 17%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 7.7% per annum.
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 |
|---|---|---|---|---|---|---|
| Sun, 07 Jun 2026 | zł26.5b | zł20.5b | zł1.3b | 18.4x | 20.7x | 1.3x |
| Tue, 05 May 2026 | zł28.2b | zł20.1b | zł1.1b | 21.3x | 26.3x | 1.4x |
| Thu, 02 Apr 2026 | zł23.8b | zł21.7b | zł1.1b | 20x | 22.6x | 1.1x |
| Sat, 28 Feb 2026 | zł23.6b | zł21.7b | zł1.0b | 24.5x | 23x | 1.1x |
| Mon, 26 Jan 2026 | zł26.8b | zł21.8b | zł1.0b | 24.1x | 26.2x | 1.2x |
| Wed, 24 Dec 2025 | zł26.1b | zł21.7b | zł1.0b | 23.1x | 25.4x | 1.2x |
| Fri, 21 Nov 2025 | zł23.3b | zł21.2b | zł996.5m | 12.8x | 23.4x | 1.1x |
| Sun, 19 Oct 2025 | zł25.5b | zł21.2b | zł986.7m | 18.6x | 25.8x | 1.2x |
| Tue, 16 Sep 2025 | zł25.6b | zł21.2b | zł982.2m | 17.5x | 26.1x | 1.2x |
| Thu, 14 Aug 2025 | zł23.0b | zł20.8b | zł1.0b | 21.6x | 22.6x | 1.1x |
| Sat, 12 Jul 2025 | zł24.8b | zł20.8b | zł1.0b | 21.9x | 24.4x | 1.2x |
| Mon, 09 Jun 2025 | zł22.6b | zł20.8b | zł1.0b | 19.7x | 22.2x | 1.1x |
| Wed, 07 May 2025 | zł20.9b | zł20.4b | zł995.7m | 18.6x | 21x | 1x |
| Fri, 04 Apr 2025 | zł20.2b | zł20.4b | zł940.7m | 17.7x | 21.4x | 1x |
| Sun, 02 Mar 2025 | zł19.0b | zł20.0b | zł926.1m | 17.6x | 20.5x | 0.9x |
| Tue, 28 Jan 2025 | zł16.2b | zł20.1b | zł927.0m | 15.6x | 17.5x | 0.8x |
| Thu, 26 Dec 2024 | zł15.7b | zł20.1b | zł926.9m | 14x | 16.9x | 0.8x |
| Sat, 23 Nov 2024 | zł14.6b | zł19.9b | zł894.9m | 16.6x | 16.4x | 0.7x |
| Mon, 21 Oct 2024 | zł15.4b | zł19.8b | zł861.3m | 14.4x | 17.9x | 0.8x |
| Wed, 18 Sep 2024 | zł15.5b | zł19.8b | zł857.4m | 16.7x | 18.1x | 0.8x |
| Fri, 16 Aug 2024 | zł15.2b | zł19.7b | zł915.3m | 20.5x | 16.6x | 0.8x |
| Sun, 14 Jul 2024 | zł15.7b | zł19.7b | zł909.9m | 19.4x | 17.2x | 0.8x |
| Tue, 11 Jun 2024 | zł15.8b | zł19.7b | zł942.6m | 20.5x | 16.8x | 0.8x |
| Thu, 09 May 2024 | zł15.9b | zł19.8b | zł880.6m | 19.9x | 18.1x | 0.8x |
| Sat, 06 Apr 2024 | zł15.7b | zł19.8b | zł867.1m | 24x | 18.1x | 0.8x |
| Mon, 04 Mar 2024 | zł14.7b | zł20.2b | zł843.1m | 23x | 17.4x | 0.7x |
| Wed, 31 Jan 2024 | zł15.3b | zł20.0b | zł831.1m | 27.5x | 18.4x | 0.8x |
| Fri, 29 Dec 2023 | zł15.7b | zł20.0b | zł831.0m | 26.9x | 18.9x | 0.8x |
| Sun, 26 Nov 2023 | zł15.7b | zł20.4b | zł829.5m | 22.7x | 18.9x | 0.8x |
| Tue, 24 Oct 2023 | zł15.5b | zł20.4b | zł816.6m | 23.4x | 18.9x | 0.8x |
| Thu, 21 Sep 2023 | zł16.5b | zł20.4b | zł764.0m | 21.6x | 21.6x | 0.8x |
| Sat, 19 Aug 2023 | zł16.2b | zł20.4b | zł772.2m | 25x | 21x | 0.8x |
| Mon, 17 Jul 2023 | zł17.2b | zł20.3b | zł754.9m | 22.8x | 22.8x | 0.8x |
| Wed, 14 Jun 2023 | zł16.2b | zł20.3b | zł738.0m | 18.7x | 22x | 0.8x |
Price to Earnings Ratio
22x
Current Industry PE
- Investors are relatively neutral on the Polish Software 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 20.7x.
- The 3-year average PS ratio of 0.99x 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 20% 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 | -1.69% | |
| Tech | 0.28% | |
| Software | -3.60% | |
| Systems Software | -2.42% | |
| Application Software | -6.76% | |
Industry PE
- Investors are most optimistic about the Application Software industry even though it's trading below its 3-year average PE ratio of 28.9x.
- Analysts are expecting annual earnings growth of 16.3%, which is higher than its past year's earnings growth of 13.2% 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 17.8x.
Forecasted Growth
- Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 16% over the next 5 years.
- This is better than its past earnings growth rate of 13% 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 | |
|---|---|---|---|---|---|
| SKY Stohid Technology | zł1.77 | 17.2% +zł20.5m | 103.4% | n/a | |
| WAS Wasko | zł6.30 | 2.6% +zł14.6m | 238.7% | PE9.6x | |
| LSI LSI Software | zł46.00 | 5.3% +zł7.5m | 138.3% | PE7.9x | |
| SUN Suntech | zł1.73 | 11.6% +zł2.9m | -21.0% | PE21.1x | |
| CLD Cloud Technologies | zł72.60 | 0.6% +zł1.8m | 50.0% | PE29.2x |