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Polish (WIG) Market Analysis & Valuation

UpdatedApr 29, 2026
DataAggregated Company Financials
Companies639
  • 7D-3.1%
  • 3M2.7%
  • 1Y20.6%
  • YTD6.8%

Over the last 7 days, the market has dropped 3.1%, driven by a pullback of 4.7% in the Financials sector. In contrast to the last week, the market is actually up 21% over the past year. Earnings are forecast to grow by 12% annually.

Trending IndustriesBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 30 Apr 2026zł1.2tzł1.2tzł81.5b13.1x15.3x1.1x
Sat, 28 Mar 2026zł1.2tzł1.2tzł71.3b12.2x16.3x1x
Mon, 23 Feb 2026zł1.2tzł1.2tzł69.4b13.1x17.5x1x
Wed, 21 Jan 2026zł1.2tzł1.2tzł63.3b13.1x18.3x1x
Fri, 19 Dec 2025zł1.1tzł1.2tzł58.8b11.9x18.7x0.9x
Sun, 16 Nov 2025zł1.1tzł1.2tzł55.8b13x19.5x0.9x
Tue, 14 Oct 2025zł1.0tzł1.2tzł55.1b13.4x19x0.9x
Thu, 11 Sep 2025zł1.0tzł1.2tzł58.6b12.8x17.6x0.9x
Sat, 09 Aug 2025zł1.1tzł1.2tzł55.7b12.9x19.5x0.9x
Mon, 07 Jul 2025zł1.0tzł1.2tzł54.0b12.9x19.4x0.9x
Wed, 04 Jun 2025zł995.1bzł1.2tzł53.9b13.4x18.5x0.8x
Fri, 02 May 2025zł1.0tzł1.2tzł46.3b12.9x21.6x0.8x
Sun, 30 Mar 2025zł992.2bzł1.2tzł51.1b12.8x19.4x0.8x
Tue, 25 Feb 2025zł928.9bzł1.2tzł43.9b12.7x21.1x0.8x
Thu, 23 Jan 2025zł854.8bzł1.2tzł42.9b11.6x19.9x0.7x
Sat, 21 Dec 2024zł804.1bzł1.2tzł42.4b10.8x19x0.7x
Mon, 18 Nov 2024zł807.7bzł1.2tzł50.9b11.5x15.9x0.7x
Wed, 16 Oct 2024zł822.6bzł1.2tzł53.4b11.6x15.4x0.7x
Fri, 13 Sep 2024zł814.2bzł1.2tzł55.8b11.7x14.6x0.7x
Sun, 11 Aug 2024zł804.3bzł1.2tzł57.9b11.6x13.9x0.7x
Tue, 09 Jul 2024zł890.9bzł1.2tzł58.1b12.4x15.3x0.7x
Thu, 06 Jun 2024zł868.3bzł1.2tzł57.9b12.6x15x0.7x
Sat, 04 May 2024zł873.1bzł1.3tzł65.4b12x13.4x0.7x
Mon, 01 Apr 2024zł874.0bzł1.3tzł85.1b12.6x10.3x0.7x
Wed, 28 Feb 2024zł877.0bzł1.3tzł86.7b12.6x10.1x0.7x
Fri, 26 Jan 2024zł805.5bzł1.3tzł90.6b12.6x8.9x0.6x
Sun, 24 Dec 2023zł840.6bzł1.3tzł91.3b12.4x9.2x0.7x
Tue, 21 Nov 2023zł800.9bzł1.3tzł93.0b11.9x8.6x0.6x
Thu, 19 Oct 2023zł755.2bzł1.3tzł88.1b12.1x8.6x0.6x
Sat, 16 Sep 2023zł725.0bzł1.2tzł91.5b12.5x7.9x0.6x
Mon, 14 Aug 2023zł763.9bzł1.2tzł93.9b13.3x8.1x0.6x
Wed, 12 Jul 2023zł746.7bzł1.2tzł92.7b13x8.1x0.6x
Fri, 09 Jun 2023zł733.4bzł1.2tzł92.4b12.1x7.9x0.6x
Sun, 07 May 2023zł698.2bzł1.2tzł91.2b11.9x7.7x0.6x
Price to Earnings Ratio

7.7x


Total Market Cap: zł698.2bTotal Earnings: zł91.2bTotal Revenue: zł1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Market Price to Earnings3Y Average 14.8x202420252026
Current Market PE
  • Investors are relatively neutral on the Polish market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 14.8x.
Past Earnings Growth
  • The earnings for Polish listed companies have declined 3.8% 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 Market-2.50%
Energy2.28%
Real Estate-0.011%
Healthcare-0.86%
Consumer Discretionary-1.41%
Telecom-1.69%
Utilities-1.82%
Tech-2.89%
Industrials-3.25%
Financials-3.47%
Consumer Staples-5.33%
Materials-5.34%
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 88.9x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.8%, which is higher than its past year's earnings growth of 1.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Utilities sector, expecting annual earnings growth of 43% over the next 5 years.
  • This is better than its past earnings decline of 26% per year.
  • In contrast, the Energy 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
PKN Orlenzł130.922.3%
+zł3.4b		91.9%PE13.7xEnergy
PCO Pepco Groupzł32.2510.4%
+zł1.7b		82.0%PE25.1xConsumer Discretionary
CPS Cyfrowy Polsatzł15.0712.5%
+zł1.1b		-18.5%PE24.1xTelecom
PGE PGE Polska Grupa Energetycznazł10.821.9%
+zł448.7m		31.4%PS0.4xUtilities
BNP BNP Paribas Bank Polskazł149.001.9%
+zł414.3m		41.2%PB1.3xFinancials
See more

Market Insights

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Latest News

PCO
zł32.25
Pepco Group
7D
10.4%
1Y
82.0%
PGE
zł10.82
PGE Polska Grupa Energetyczna
7D
1.9%
1Y
31.4%

PGE: Weaker Revenue And Margin Outlook Will Pressure Shares

Analysts have maintained their PLN 7.66 price target for PGE Polska Grupa Energetyczna, citing a slightly lower discount rate, more conservative assumptions for revenue growth and profit margins, and a higher future P/E of 4.58x as the key inputs behind the latest update. Valuation Changes Fair Value: PLN 7.66 per share is unchanged, so the update keeps the same anchor point for the valuation.
BNP
zł149.00
BNP Paribas Bank Polska
7D
1.9%
1Y
41.2%

BNP: Future Dividend And Stable Assumptions Will Support Balanced Share Outlook

Analysts have maintained their price target for BNP Paribas Bank Polska at PLN 150.02. They have made only minor adjustments to assumptions including the discount rate, long term revenue growth, projected profit margin and a slightly revised future P/E estimate.
ING
zł416.60
ING Bank Slaski
7D
-4.1%
1Y
27.2%
PKN
zł130.92
Orlen
7D
2.3%
1Y
91.9%

PKN: Future Returns Will Hinge On Energa Integration And Margin Resilience

Analysts have adjusted their PLN price targets on Orlen only slightly, with a modest recalibration in discount rate, revenue growth, profit margin and future P/E assumptions that reflects a mixed set of recent views, including a more positive stance from UBS and a more cautious one from Oddo BHF. Analyst Commentary Recent research on Orlen points to a split in opinion, with some analysts turning more optimistic and others taking a more cautious stance.
PKO
zł96.24
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
7D
-2.2%
1Y
33.0%

PKO: Regional Volume Outlook And Dividend Will Balance Recent Downgrades

The updated analyst price target for Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna edges higher to around PLN 100.46 from PLN 100.25, as analysts weigh recent downgrades alongside new coverage that highlights potential in Central and Eastern Europe banks, supported by low market penetration and a solid volume outlook. Analyst Commentary Recent research shows a split in views on Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna, with some analysts turning more cautious while others see room for upside, especially within the wider Central and Eastern Europe banking space.
CPS
zł15.07
Cyfrowy Polsat
7D
12.5%
1Y
-18.5%

CPS: Lower Discount Rate And Higher P/E Will Support Measured Future Returns

Analysts have nudged their price target on Cyfrowy Polsat up from PLN 12.33 to PLN 12.60, citing updated assumptions for discount rates, revenue growth, profit margins, and future P/E expectations. Valuation Changes Fair Value increased from PLN 12.33 to PLN 12.60, representing a modest uplift in the modelled estimate.
EBP
zł624.20
Erste Bank Polska
7D
-3.4%
1Y
8.1%
PEO
zł232.20
Bank Polska Kasa Opieki
7D
-4.7%
1Y
23.3%

PEO: Neutral View Will Balance PLN 239 Fairness Against Regional Execution Risk

Analysts lifted their fair value estimate for Bank Polska Kasa Opieki from PLN 233.62 to PLN 239.91, reflecting slightly higher assumptions for revenue growth, profit margin and future P/E after recent research that includes a higher PLN 237 target from Barclays, an Equal Weight initiation with a PLN 265 target at Morgan Stanley, and a fresh downgrade from Citi. Analyst Commentary Bullish and bearish analysts are split on Bank Polska Kasa Opieki, with recent research focusing on how much growth is already reflected in the current valuation and how reliably the bank can execute on its regional opportunities.
DOM
zł261.00
Dom Development
7D
4.0%
1Y
18.9%
ABS
zł83.20
Asseco Business Solutions
7D
6.9%
1Y
-1.9%
MBK
zł1,135.50
mBank
7D
-5.5%
1Y
38.0%

MBK: Rich P/E And Softer Growth Assumptions Will Pressure Future Returns

Analysts have kept their PLN 841.40 price target for mBank unchanged, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin, and future P/E that broadly offset each other in their models. Valuation Changes Fair Value: PLN 841.40 fair value estimate is unchanged, indicating no shift in the overall valuation outcome.
KGH
zł299.90
KGHM Polska Miedz
7D
-7.4%
1Y
150.9%

KGH: Copper Contract Renewal And Governance Reforms Will Support Future Repricing

Analysts have trimmed the fair value estimate for KGHM Polska Miedz to PLN 375.0 from PLN 390.0, reflecting recent target cuts along with lower revenue growth assumptions, partially offset by expectations for stronger profit margins and a lower future P/E multiple. Analyst Commentary The latest round of research on KGHM Polska Miedz has been mixed, with some firms taking a more cautious stance while others highlight potential upside tied to earnings quality and valuation.
LPP
zł22,200.00
LPP
7D
-6.0%
1Y
44.2%
DNP
zł31.46
Dino Polska
7D
-7.5%
1Y
-40.5%
BFT
zł4,040.00
Benefit Systems
7D
2.9%
1Y
23.9%

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Mar 28
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