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Polish (WIG) Market Analysis & Valuation

UpdatedJul 21, 2026
DataAggregated Company Financials
Companies640
  • 7D-0.5%
  • 3M4.1%
  • 1Y24.3%
  • YTD14.8%

In the last week, the market has stayed flat, however the Consumer Staples sector stood out, gaining 10%. As for the longer term, the market has risen 24% in the past 12 months. Looking forward, earnings are forecast to grow by 13% annually.

Trending IndustriesBiotechSoftware

Market Valuation and Performance

Has the Polish Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Jul 2026zł1.4tzł1.2tzł78.4b13.2x17.3x1.1x
Fri, 19 Jun 2026zł1.3tzł1.2tzł77.9b13.5x16.7x1.1x
Sun, 17 May 2026zł1.3tzł1.2tzł86.6b12.7x14.5x1.1x
Tue, 14 Apr 2026zł1.3tzł1.2tzł71.7b12.6x17.8x1.1x
Thu, 12 Mar 2026zł1.2tzł1.2tzł69.4b12.4x17x1x
Sat, 07 Feb 2026zł1.2tzł1.2tzł63.9b13x18.9x1x
Mon, 05 Jan 2026zł1.2tzł1.2tzł63.3b12.6x18.3x1x
Wed, 03 Dec 2025zł1.1tzł1.2tzł58.7b12.3x18.2x0.9x
Fri, 31 Oct 2025zł1.1tzł1.2tzł55.0b13.4x19.8x0.9x
Sun, 28 Sep 2025zł1.0tzł1.2tzł49.7b12.9x20.8x0.9x
Tue, 26 Aug 2025zł1.1tzł1.2tzł57.1b12.9x18.6x0.9x
Thu, 24 Jul 2025zł1.1tzł1.2tzł54.1b13.1x19.7x0.9x
Sat, 21 Jun 2025zł1.0tzł1.2tzł53.9b13x18.6x0.8x
Mon, 19 May 2025zł1.0tzł1.2tzł49.4b13.7x20.8x0.8x
Wed, 16 Apr 2025zł955.5bzł1.2tzł47.1b12.5x20.3x0.8x
Fri, 14 Mar 2025zł963.9bzł1.2tzł49.7b12.4x19.4x0.8x
Sun, 09 Feb 2025zł905.4bzł1.2tzł43.9b11.8x20.6x0.7x
Tue, 07 Jan 2025zł824.9bzł1.2tzł42.9b11.4x19.2x0.7x
Thu, 05 Dec 2024zł823.4bzł1.2tzł45.0b11.3x18.3x0.7x
Sat, 02 Nov 2024zł809.3bzł1.2tzł55.2b11.5x14.7x0.7x
Mon, 30 Sep 2024zł839.8bzł1.2tzł53.7b12.4x15.7x0.7x
Wed, 28 Aug 2024zł845.8bzł1.2tzł55.2b11.6x15.3x0.7x
Fri, 26 Jul 2024zł850.9bzł1.2tzł58.0b11.9x14.7x0.7x
Sun, 23 Jun 2024zł878.8bzł1.2tzł58.2b12.3x15.1x0.7x
Tue, 21 May 2024zł908.1bzł1.3tzł66.6b12.5x13.6x0.7x
Thu, 18 Apr 2024zł860.9bzł1.3tzł78.1b12.1x11x0.7x
Sat, 16 Mar 2024zł850.4bzł1.3tzł86.9b12.5x9.8x0.7x
Mon, 12 Feb 2024zł828.3bzł1.3tzł89.7b12.7x9.2x0.7x
Wed, 10 Jan 2024zł829.3bzł1.3tzł90.6b12.6x9.2x0.6x
Fri, 08 Dec 2023zł821.2bzł1.3tzł92.0b12.5x8.9x0.6x
Sun, 05 Nov 2023zł776.1bzł1.3tzł88.2b12x8.8x0.6x
Tue, 03 Oct 2023zł704.0bzł1.3tzł87.9b11.9x8x0.6x
Thu, 31 Aug 2023zł747.0bzł1.2tzł91.1b12.6x8.2x0.6x
Sat, 29 Jul 2023zł785.8bzł1.2tzł93.2b13.1x8.4x0.6x
Price to Earnings Ratio

8.4x


Total Market Cap: zł785.8bTotal Earnings: zł93.2bTotal Revenue: zł1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Market Price to Earnings3Y Average 15.4x202420252026
Current Market PE
  • Investors are optimistic on the Polish market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 17.1x which is higher than its 3-year average PE of 15.4x.
Past Earnings Growth
  • The earnings for Polish listed companies have declined 5.6% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Polish Market?

PL Market0.32%
Consumer Staples10.44%
Energy2.08%
Industrials1.43%
Telecom1.37%
Consumer Discretionary1.19%
Utilities-0.30%
Healthcare-0.69%
Real Estate-0.72%
Tech-0.82%
Financials-1.34%
Materials-2.08%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 4.6x.
    • Analysts expect its future annual earnings growth (10.4%) to be largely in line with prior year's earnings growth.
    • The market's confidence could indicate that the market believes that analysts are underestimating future growth.
Forecasted Growth
  • Analysts are most optimistic on the Utilities sector, expecting annual earnings growth of 44% over the next 5 years.
  • However this is lower than its past earnings growth rate of 77% per year.
  • In contrast, the Healthcare industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
ZAB Zabka Groupzł33.8321.1%
+zł5.9b		60.5%PE29.6xConsumer Staples
PKN Orlenzł149.162.2%
+zł3.7b		72.1%PE26.8xEnergy
DNP Dino Polskazł29.785.6%
+zł1.5b		-40.7%PE18.7xConsumer Staples
PZU Powszechny Zaklad Ubezpieczenzł70.842.5%
+zł1.5b		14.7%PE9.7xFinancials
ALE Allegro.euzł45.092.6%
+zł1.1b		25.1%PE24.1xConsumer Discretionary
See more

Market Insights

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A strong brand today doesn't guarantee a strong brand forever. Even the most established names can see their pricing power fade over time. In an industry landscape being reshaped by new entrants, shifting tastes and disruptive technology, it's worth understanding how to tell a temporary dip from a permanent decline.
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What makes a lasting brand?

Latest News

PCO
zł41.98
Pepco Group
7D
5.0%
1Y
83.9%
Narrative Update • Jul 20

PCO: Higher Margin Outlook And Raised Earnings Guidance Will Support Future Returns

The latest Narrative Update on Pepco Group reflects a revised analyst price target moving from PLN36.24 to PLN46.95, with analysts citing adjusted assumptions around discount rates, revenue growth, profit margins, and future P/E expectations as key drivers of the change. What’s in the News for Pepco Group Pepco Group updated earnings guidance for fiscal 2026, keeping revenue guidance at 6% to 8%.
MDV
zł90.00
Modivo
7D
-7.9%
1Y
-56.8%
Narrative Update • Jul 20

MDV: Margin Reset And Richer P E Multiple Will Pressure Returns

Analysts have lowered the Modivo 12 month price target from PLN 74.00 to PLN 56.70, citing updated assumptions on profit margins and a higher future P/E multiple following several recent downgrades in Street research. Analyst Commentary Recent research on Modivo points to a more cautious stance, with several bearish analysts reassessing their assumptions around profitability and what investors are willing to pay for the stock.
EBP
zł672.40
Erste Bank Polska
7D
-2.3%
1Y
29.7%
Narrative Update • Jul 20

EBP: Updated Assumptions Will Shape Future Balance Of Risk And Reward

Analysts have nudged their price target for Erste Bank Polska higher from PLN 633.99 to PLN 650.19, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E that modestly adjust their valuation framework. What's in the News for Erste Bank Polska No recent company specific news items for Erste Bank Polska were identified in the provided sources.
ZAB
zł33.83
Zabka Group
7D
21.1%
1Y
60.5%
ASB
zł105.00
ASBISc Enterprises
7D
-9.9%
1Y
253.5%
KGH
zł306.45
KGHM Polska Miedz
7D
-4.1%
1Y
126.7%
Narrative Update • Jul 16

KGH: Nevada Copper Option And Sierra Gorda Expansion Will Drive Repricing

The analyst price target for KGHM Polska Miedz has been reduced by PLN 30 to PLN 450, as analysts reflect updated assumptions around discount rates, profit margins and P/E expectations in light of recent price target cuts and rating changes from major banks. Analyst Commentary Recent Street research on KGHM Polska Miedz shows a series of recalibrated price targets and rating changes, with large banks such as JPMorgan and Morgan Stanley updating their views as new information filters into their models.
PZU
zł70.84
Powszechny Zaklad Ubezpieczen
7D
2.5%
1Y
14.7%
Narrative Update • Jul 15

PZU: Dividend Payout And Adjusted Profitability Assumptions Will Shape Future Returns

The consensus analyst price target for Powszechny Zaklad Ubezpieczen has been revised slightly higher to PLN73.52 from PLN71.33. Analysts point to adjusted assumptions for discount rates, revenue trends, profit margins and forward P/E as the main drivers of the change.
BNP
zł149.00
BNP Paribas Bank Polska
7D
-2.5%
1Y
41.9%
Narrative Update • Jul 10

BNP: Higher Profitability Assumptions Will Support A Stronger Forward Earnings Profile

Analysts have raised their price target for BNP Paribas Bank Polska from PLN 175.0 to PLN 185.1, citing updated assumptions around revenue growth, profit margins and a lower assumed future P/E multiple as key drivers of the revised valuation framework. What’s in the News for BNP Paribas Bank Polska No recent company specific news items are available from the provided primary sources for BNP Paribas Bank Polska.
PKN
zł149.16
Orlen
7D
2.2%
1Y
72.1%
Narrative Update • Jul 08

nan

Analysts have raised their price target for Orlen from PLN 87.00 to PLN 94.00, citing updated assumptions that include a revised discount rate, a lower P/E multiple, and adjusted expectations for revenue growth and profit margins. What's in the News for Orlen No recent Orlen specific news items or key developments are provided in the available sources at this time.
ING
zł450.20
ING Bank Slaski
7D
-4.8%
1Y
39.2%
Narrative Update • Jul 08

ING: Rich Earnings Outlook Will Likely Struggle To Justify Current Pricing

Analysts have raised their price target on ING Bank Slaski from PLN 321.95 to PLN 350.00, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E that they view as better aligned with the bank's current outlook. What's in the News No recent news items or key developments for ING Bank Slaski were identified in the provided sources as of 8 Jul 2026.
ALE
zł45.09
Allegro.eu
7D
2.6%
1Y
25.1%
Narrative Update • Jul 07

ALE: Balanced Ratings Shifts And Governance Changes Will Shape Future Return Profile

Analysts have raised their average price target on Allegro.eu to PLN 40.58 from PLN 38.65, reflecting updated views on fair value and earnings potential after recent target changes to PLN 46 and PLN 41, along with adjustments to the discount rate, revenue growth, and profit margin assumptions. Analyst Commentary Recent research updates on Allegro.eu show a mix of optimism and caution, with fresh price targets and rating changes shaping how analysts think about the stock's valuation, growth prospects, and execution risk.
MBK
zł1,400.00
mBank
7D
-3.2%
1Y
67.3%
Narrative Update • Jun 29

MBK: Updated Fair Value And Higher Future P/E Will Shape Returns

The analyst price target for mBank has shifted from PLN 1,224.00 to PLN 1,291.00. Analysts link this change to updated fair value estimates, a slightly lower discount rate, and adjustments to revenue growth, profit margin, and future P/E assumptions.
PKO
zł108.88
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
7D
-1.5%
1Y
36.4%
Narrative Update • Jun 22

PKO: Dividend Outlook And Recent Downgrade Will Shape Balanced Prospects

Analysts have trimmed their price target for Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna to PLN106.33, reflecting a slightly higher assumed discount rate and updated profit margin and future P/E inputs following more cautious recent research. What's in the News Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna announced an annual dividend of PLN 6.1400 per share.
XTB
zł137.58
XTB
7D
5.3%
1Y
92.9%
DNP
zł29.78
Dino Polska
7D
5.6%
1Y
-40.7%
BDX
zł753.20
Budimex
7D
4.0%
1Y
20.8%