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Polish (WIG) Software Industry Analysis

UpdatedFeb 25, 2026
DataAggregated Company Financials
Companies35
  • 7D-1.8%
  • 3M-5.0%
  • 1Y17.7%
  • YTD-16.9%

Over the last 7 days, the Software industry has dropped 1.8%, driven by Vercom declining 14%. Over the past 12 months, the industry was up 18%. Earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Feb 2026zł23.3bzł21.7bzł1.0b23.4x22.8x1.1x
Fri, 23 Jan 2026zł27.3bzł21.8bzł1.0b24.1x26.7x1.3x
Sun, 21 Dec 2025zł25.5bzł21.7bzł1.0b22.5x24.9x1.2x
Tue, 18 Nov 2025zł23.7bzł21.2bzł996.1m17.5x23.8x1.1x
Thu, 16 Oct 2025zł25.9bzł21.2bzł986.8m18.3x26.3x1.2x
Sat, 13 Sep 2025zł25.5bzł21.2bzł977.4m21.6x26.1x1.2x
Mon, 11 Aug 2025zł23.7bzł20.8bzł1.0b21.4x23.4x1.1x
Wed, 09 Jul 2025zł25.5bzł20.8bzł1.0b21.8x25.1x1.2x
Fri, 06 Jun 2025zł22.7bzł20.8bzł1.0b19.6x22.3x1.1x
Sun, 04 May 2025zł21.0bzł20.4bzł991.2m19.9x21.1x1x
Tue, 01 Apr 2025zł20.2bzł20.4bzł935.9m18x21.6x1x
Thu, 27 Feb 2025zł19.1bzł20.0bzł922.5m18.7x20.7x1x
Sat, 25 Jan 2025zł16.2bzł20.1bzł927.0m15.5x17.5x0.8x
Mon, 23 Dec 2024zł15.6bzł20.1bzł926.9m14.1x16.8x0.8x
Wed, 20 Nov 2024zł14.6bzł19.9bzł892.9m17x16.4x0.7x
Fri, 18 Oct 2024zł15.1bzł19.8bzł861.3m14.6x17.6x0.8x
Sun, 15 Sep 2024zł15.5bzł19.8bzł855.1m16.2x18.1x0.8x
Tue, 13 Aug 2024zł14.9bzł19.7bzł915.2m21.2x16.3x0.8x
Thu, 11 Jul 2024zł15.5bzł19.7bzł909.8m19.4x17.1x0.8x
Sat, 08 Jun 2024zł15.8bzł19.7bzł939.7m20.2x16.8x0.8x
Mon, 06 May 2024zł15.6bzł19.8bzł880.6m19.9x17.7x0.8x
Wed, 03 Apr 2024zł15.5bzł19.8bzł867.2m24.3x17.8x0.8x
Fri, 01 Mar 2024zł14.6bzł20.2bzł846.1m22.9x17.3x0.7x
Sun, 28 Jan 2024zł15.2bzł20.0bzł831.1m26.8x18.3x0.8x
Tue, 26 Dec 2023zł15.7bzł20.0bzł831.0m26x18.9x0.8x
Thu, 23 Nov 2023zł16.1bzł20.4bzł838.3m22x19.2x0.8x
Sat, 21 Oct 2023zł15.7bzł20.4bzł816.6m23x19.2x0.8x
Mon, 18 Sep 2023zł16.4bzł20.5bzł778.1m22.9x21x0.8x
Wed, 16 Aug 2023zł16.6bzł20.4bzł770.9m22.6x21.5x0.8x
Fri, 14 Jul 2023zł17.0bzł20.3bzł754.9m22.3x22.5x0.8x
Sun, 11 Jun 2023zł16.6bzł20.3bzł738.1m20.7x22.4x0.8x
Tue, 09 May 2023zł16.7bzł19.9bzł708.4m23.6x23.5x0.8x
Thu, 06 Apr 2023zł15.3bzł19.5bzł704.4m19.9x21.8x0.8x
Sat, 04 Mar 2023zł15.5bzł19.5bzł680.6m23.1x22.8x0.8x
Price to Earnings Ratio

22.8x


Total Market Cap: zł15.5bTotal Earnings: zł680.6mTotal Revenue: zł19.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Software Industry Price to Earnings3Y Average 20.6x202420252026
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 22.8x which is higher than its 3-year average PE of 20.6x.
  • The 3-year average PS ratio of 0.95x 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 15% per year over the last three years.
  • Revenues for these companies have grown 3.6% 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 Market1.83%
Tech-0.38%
Software-1.80%
Systems Software1.18%
Application Software-7.07%
Industry PE
  • Investors are most optimistic about the Application Software industry, which is trading close to its 3-year average PE ratio of 31.8x.
    • Analysts are expecting annual earnings growth of 19.2%, which is higher than its past year's earnings growth of 3.7% 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 17.2x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 19% over the next 5 years.
  • This is better than its past earnings growth rate of 3.7% per year.
  • In contrast, the Systems Software industry is expected to see its earnings grow by 10% 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 Polandzł174.302.0%
+zł231.9m		28.1%PE19.6x
EUV Euviczł25.409.5%
+zł77.3m		n/an/a
WAS Waskozł4.153.8%
+zł13.7m		123.7%PE22.9x
CLD Cloud Technologieszł76.801.1%
+zł3.6m		80.3%PE56.6x
SUN Suntechzł1.688.7%
+zł2.2m		-34.9%PE43.4x

Latest News

SUN
zł1.68
Suntech
7D
8.7%
1Y
-34.9%
ACP
zł174.30
Asseco Poland
7D
2.0%
1Y
28.1%

ACP: Revised Fair Value Assumptions Will Likely Expose Upside Risk

Analysts have revised their fair value estimate for Asseco Poland to PLN 131.00 from PLN 89.12, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples, even as some recent research, such as Erste Group's downgrade, has turned more cautious. Analyst Commentary Recent research has taken a more cautious tone on Asseco Poland, even as some valuation models point to a higher fair value estimate of PLN 131.00.
IFI
zł33.50
Ifirma
7D
-4.3%
1Y
37.9%
MAD
zł3.98
Madkom
7D
6.4%
1Y
93.2%
DAT
zł159.00
DataWalk
7D
-3.0%
1Y
134.2%
VRC
zł112.00
Vercom
7D
-14.2%
1Y
-6.3%

Getting In Cheap On Vercom S.A. (WSE:VRC) Might Be Difficult

Feb 11
Getting In Cheap On Vercom S.A. (WSE:VRC) Might Be Difficult
WAS
zł4.15
Wasko
7D
3.8%
1Y
123.7%
SHO
zł40.00
Shoper
7D
-11.1%
1Y
-5.9%
TXT
zł36.32
Text
7D
-6.9%
1Y
-36.4%
ABS
zł80.40
Asseco Business Solutions
7D
-1.7%
1Y
17.5%
MLM
zł0.39
Milisystem
7D
17.0%
1Y
-72.1%
CLD
zł76.80
Cloud Technologies
7D
1.1%
1Y
80.3%
PAC
zł0.84
Proacta
7D
-7.7%
1Y
-5.2%
WPR
zł4.08
Woodpecker.co
7D
6.3%
1Y
-2.6%
SKY
zł1.65
Stohid Technology
7D
-6.8%
1Y
21.3%