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Polish (WIG) Market Analysis & Valuation

UpdatedJan 13, 2026
DataAggregated Company Financials
Companies636
  • 7D1.3%
  • 3M13.5%
  • 1Y41.8%
  • YTD1.4%

The market has climbed 1.3% in the last 7 days, lead by the Financials sector with a gain of 0.7%. The market is up 42% over the last 12 months. As for the next few years, earnings are expected to grow by 14% per annum.

Trending IndustriesBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 13 Jan 2026zł1.2tzł1.2tzł63.3b13.1x18.6x1x
Thu, 11 Dec 2025zł1.1tzł1.2tzł59.3b11.7x18.3x0.9x
Sat, 08 Nov 2025zł1.1tzł1.2tzł55.8b13.5x19.3x0.9x
Mon, 06 Oct 2025zł1.0tzł1.2tzł55.2b13.1x19x0.9x
Wed, 03 Sep 2025zł1.0tzł1.2tzł57.7b13x17.6x0.9x
Fri, 01 Aug 2025zł1.1tzł1.2tzł54.8b12.9x19.4x0.9x
Sun, 29 Jun 2025zł1.0tzł1.2tzł54.0b13x19x0.9x
Tue, 27 May 2025zł1.0tzł1.2tzł55.7b13.9x18.3x0.8x
Thu, 24 Apr 2025zł1.0tzł1.2tzł45.9b12.8x22x0.9x
Sat, 22 Mar 2025zł981.6bzł1.2tzł51.3b12.8x19.1x0.8x
Mon, 17 Feb 2025zł931.5bzł1.2tzł44.0b12.4x21.2x0.8x
Wed, 15 Jan 2025zł826.7bzł1.2tzł42.9b11.3x19.3x0.7x
Fri, 13 Dec 2024zł826.4bzł1.2tzł41.8b10.9x19.8x0.7x
Sun, 10 Nov 2024zł835.2bzł1.2tzł55.6b11.5x15x0.7x
Tue, 08 Oct 2024zł810.6bzł1.2tzł53.4b11.9x15.2x0.7x
Thu, 05 Sep 2024zł849.6bzł1.2tzł55.1b11.8x15.4x0.7x
Sat, 03 Aug 2024zł829.5bzł1.2tzł58.3b11.6x14.2x0.7x
Mon, 01 Jul 2024zł896.3bzł1.2tzł58.3b12.4x15.4x0.7x
Wed, 29 May 2024zł886.7bzł1.2tzł57.0b12.5x15.6x0.7x
Fri, 26 Apr 2024zł865.3bzł1.3tzł76.9b11.7x11.2x0.7x
Sun, 24 Mar 2024zł857.3bzł1.3tzł85.1b12.3x10.1x0.7x
Tue, 20 Feb 2024zł853.3bzł1.3tzł89.1b12.7x9.6x0.7x
Thu, 18 Jan 2024zł791.2bzł1.3tzł90.6b12.4x8.7x0.6x
Sat, 16 Dec 2023zł832.4bzł1.3tzł91.3b12.8x9.1x0.6x
Mon, 13 Nov 2023zł768.6bzł1.3tzł91.4b11.8x8.4x0.6x
Wed, 11 Oct 2023zł715.2bzł1.3tzł88.0b12.1x8.1x0.6x
Fri, 08 Sep 2023zł713.3bzł1.2tzł115.0b12.6x6.2x0.6x
Sun, 06 Aug 2023zł781.8bzł1.2tzł93.9b13.2x8.3x0.6x
Tue, 04 Jul 2023zł748.2bzł1.2tzł92.7b12.9x8.1x0.6x
Thu, 01 Jun 2023zł694.9bzł1.2tzł92.3b12.1x7.5x0.6x
Sat, 29 Apr 2023zł703.0bzł1.2tzł91.3b11.9x7.7x0.6x
Mon, 27 Mar 2023zł630.7bzł1.1tzł95.1b11.2x6.6x0.6x
Wed, 22 Feb 2023zł666.5bzł1.0tzł81.5b11.2x8.2x0.6x
Fri, 20 Jan 2023zł680.8bzł1.0tzł76.8b10.4x8.9x0.7x
Price to Earnings Ratio

8.9x


Total Market Cap: zł680.8bTotal Earnings: zł76.8bTotal Revenue: zł1.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Market Price to Earnings3Y Average 13.9x202420252026
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 18.6x which is higher than its 3-year average PE of 13.9x.
Past Earnings Growth
  • The earnings for Polish listed companies have declined 6.2% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.2% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Sector Trends

Which sectors have driven the changes within the Polish Market?

PL Market1.31%
Healthcare5.15%
Industrials3.71%
Materials2.50%
Utilities2.33%
Telecom2.09%
Real Estate1.99%
Tech1.90%
Consumer Staples1.81%
Consumer Discretionary1.27%
Financials0.74%
Energy-0.83%
Sector PE
  • Investors favour the Healthcare sector the most for future growth even though it's trading below its 3-year average PE ratio of 88.7x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.3%, which is higher than its past year's earnings growth of 17.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Utilities sector, expecting annual earnings growth of 55% over the next 5 years.
  • This is better than its past earnings decline of 34% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 3.1% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
PKO Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjnazł88.741.5%
+zł1.6b		47.7%PB2.1xFinancials
CCC CCCzł138.1514.2%
+zł1.4b		-24.3%PE15.2xConsumer Discretionary
KGH KGHM Polska Miedzzł303.002.2%
+zł1.3b		150.1%PE23.6xMaterials
PZU Powszechny Zaklad Ubezpieczenzł69.441.9%
+zł1.1b		45.7%PE8.7xFinancials
TPE TAURON Polska Energiazł9.696.6%
+zł1.1b		148.5%PE5xUtilities
See more

Market Insights

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Latest News

CCC
zł138.15
CCC
7D
14.2%
1Y
-24.3%

CCC: Data Moat And Sticky Clients Will Support Margin Expansion Outlook

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ALE
zł32.25
Allegro.eu
7D
2.8%
1Y
25.6%

ALE: Steady Outlook And Ongoing Buybacks Will Support Stronger Share Performance

Analysts have kept their fair value estimate for Allegro.eu steady at €40.40, with small adjustments to the discount rate, profit margin assumptions and a slightly lower future P/E helping to refine their price target without shifting the headline number. What's in the News Allegro.eu completed a share buyback tranche between November 18, 2025 and December 3, 2025, repurchasing 4,664,941 shares, equal to 0.44% of share capital, for PLN 148.56m (company filing).
KRU
zł487.30
KRUK Spólka Akcyjna
7D
-2.2%
1Y
16.4%

KRU: Stable Margins And Slightly Lower Discount Rate Will Support Fair Value

Analysts have maintained their fair value estimate for KRUK Spólka Akcyjna at PLN 532.10, making only minor adjustments to inputs such as the discount rate and long term profit assumptions that support this unchanged price target. Valuation Changes Fair Value Estimate: unchanged at PLN 532.10 per share, reflecting the net effect of small input revisions.
ING
zł360.00
ING Bank Slaski
7D
2.0%
1Y
35.8%

ING: Future Earnings Power Will Support Fair Outlook With Stable Assumptions

Analysts have nudged their price target for ING Bank Slaski to €369.52, a change they link to small adjustments in assumptions such as the discount rate and future P/E, while keeping forecast revenue growth and profit margin essentially unchanged. Valuation Changes Fair Value: Modelled fair value is unchanged at €369.52 per share.
MBK
zł1,059.00
mBank
7D
-0.7%
1Y
93.2%

MBK: Higher Revenue Outlook And Richer Future P/E Will Support Upside

Analysts have lifted their price target on mBank from €961 to about €1,223, reflecting updated assumptions that combine higher revenue growth with a lower discount rate, a lower profit margin and a higher future P/E multiple. Valuation Changes Fair value estimate: raised from €961.00 to about €1,222.70, indicating a higher assessed equity value for mBank in the model.
LPP
zł20,480.00
LPP
7D
-4.0%
1Y
37.3%
MIL
zł17.19
Bank Millennium
7D
-1.7%
1Y
83.8%

MIL: Revenue Outlook And Margins Will Continue To Mask Overvaluation

Narrative Update: Bank Millennium Analyst Price Target Analysts have kept their fair value estimate for Bank Millennium broadly unchanged at €15.56, with only marginal tweaks to the discount rate and assumed future P/E. This reflects fine tuning of their models rather than a shift in the core investment thesis.
PKN
zł98.85
Orlen
7D
-0.9%
1Y
96.9%

PKN: Future Returns Will Likely Disappoint As Earnings Multiple Stays Elevated

Analysts have kept their price target for Orlen unchanged at €87.31, reflecting steady assumptions on fair value, discount rate, revenue growth, profit margin and future P/E, with no new Street research prompting a revision. Valuation Changes Fair Value: Fair value per share remains unchanged at €87.31, with no adjustment to the underlying model inputs.
ALR
zł113.85
Alior Bank
7D
-0.6%
1Y
29.6%

ALR: Lending Portfolio Strength Will Support Future Returns As Upside Moderates

Analysts have trimmed their stance on Alior Bank, as reflected in a reduced price target to PLN 125.30, with only marginal tweaks to inputs like the discount rate, revenue growth, profit margin and future P/E shaping this narrative update. Analyst Commentary The recent move to lower the rating to Accumulate, while keeping the price target at PLN 125.30, signals that analysts still see room for upside but are more cautious about the balance between risk and reward at current levels.
KGH
zł303.00
KGHM Polska Miedz
7D
2.2%
1Y
150.1%

KGH: Higher Profit Assumptions Will Face Pressure If Project Execution Falters

Analysts have raised their fair value estimate for KGHM Polska Miedz from PLN 92 to PLN 155, citing updated expectations for revenue growth, profit margins and future P/E multiples that align with recent target price increases from major banks. Analyst Commentary Recent research updates show higher formal price targets for KGHM Polska Miedz, including PLN 229 from Morgan Stanley and PLN 190 from JPMorgan.
TPE
zł9.69
TAURON Polska Energia
7D
6.6%
1Y
148.5%

TPE: Stable Margins And Discount Rate Tweaks Will Support Balanced Outlook

Analysts have left their price target for TAURON Polska Energia effectively unchanged, at around 9.85, as only minor tweaks to the discount rate, revenue growth and future P/E inputs did not meaningfully alter their valuation view. Valuation Changes Fair Value: Model output remains at roughly PLN 9.85 per share, with no change between the previous and updated estimates.
PCO
zł30.82
Pepco Group
7D
-0.9%
1Y
92.6%

PCO: Lower Discount Rate Will Support Higher Future Earnings Multiple

Analysts have lifted their price target for Pepco Group to €35.90 from €34.02, citing updated assumptions that combine an 8.38% revenue growth outlook with a 6.69% profit margin and a revised future P/E of 17.61, all discounted at an adjusted rate of 11.80%. Valuation Changes Fair Value Estimate, revised from €34.02 to €35.90, implying a modest uplift in the assessed share value.
DNP
zł41.99
Dino Polska
7D
2.2%
1Y
5.6%

Are Investors Undervaluing Dino Polska S.A. (WSE:DNP) By 31%?

Jan 01
Are Investors Undervaluing Dino Polska S.A. (WSE:DNP) By 31%?
ENG
zł20.30
Energa
7D
-1.7%
1Y
41.0%

Is Energa (WSE:ENG) Using Too Much Debt?

Dec 24
Is Energa (WSE:ENG) Using Too Much Debt?
PZU
zł69.44
Powszechny Zaklad Ubezpieczen
7D
1.9%
1Y
45.7%
PKO
zł88.74
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
7D
1.5%
1Y
47.7%

PKO: Higher Projected Profit Margins Will Drive Stronger Outlook

Analysts have raised their price target for Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna from PLN 87.49 to PLN 88.03, citing stronger revenue growth forecasts and higher expected profit margins as key factors behind the upward revision. Valuation Changes Fair Value has risen slightly from PLN 87.49 to PLN 88.03.