Buy Or Sell Opportunity • May 07
Now 21% undervalued Over the last 90 days, the stock has risen 1.1% to zł57.60. The fair value is estimated to be zł72.57, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 33%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Buy Or Sell Opportunity • Apr 07
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to zł53.00. The fair value is estimated to be zł67.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Buy Or Sell Opportunity • Feb 24
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at zł54.00. The fair value is estimated to be zł68.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Buy Or Sell Opportunity • Feb 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.7% to zł57.00. The fair value is estimated to be zł71.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Earnings per share has grown by 36%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Reported Earnings • Nov 25
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł190.0m (down 3.5% from 3Q 2024). Net income: zł14.1m (up 144% from 3Q 2024). Profit margin: 7.4% (up from 2.9% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the IT industry in Europe. Buy Or Sell Opportunity • Nov 24
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to zł51.80. The fair value is estimated to be zł66.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years. Earnings per share has grown by 38%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Aankondiging • Nov 15
Comp S.A. to Report Q3, 2025 Results on Nov 20, 2025 Comp S.A. announced that they will report Q3, 2025 results on Nov 20, 2025 Aankondiging • Aug 20
Comp S.A. to Report First Half, 2025 Results on Aug 29, 2025 Comp S.A. announced that they will report first half, 2025 results on Aug 29, 2025 New Risk • Jul 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 28% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Reported Earnings • May 22
First quarter 2025 earnings released: EPS: zł3.01 (vs zł2.08 in 1Q 2024) First quarter 2025 results: EPS: zł3.01 (up from zł2.08 in 1Q 2024). Revenue: zł168.5m (up 10% from 1Q 2024). Net income: zł13.0m (up 37% from 1Q 2024). Profit margin: 7.7% (up from 6.2% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 20
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: zł8.57 (up from zł6.75 in FY 2023). Revenue: zł903.3m (down 9.4% from FY 2023). Net income: zł37.5m (up 21% from FY 2023). Profit margin: 4.2% (up from 3.1% in FY 2023). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) missed analyst estimates by 3.3%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 64% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to zł208, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the IT industry in Europe. Total returns to shareholders of 343% over the past three years. Buy Or Sell Opportunity • Feb 24
Now 21% undervalued Over the last 90 days, the stock has risen 35% to zł159. The fair value is estimated to be zł200, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.8% over the last 3 years, while earnings per share has been flat. Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł138, the stock trades at a trailing P/E ratio of 15.5x. Average forward P/E is 15x in the IT industry in Poland. Total returns to shareholders of 177% over the past three years. Reported Earnings • Nov 26
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: zł197.0m (up 16% from 3Q 2023). Net income: zł5.80m (up 146% from 3Q 2023). Profit margin: 2.9% (up from 1.4% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the IT industry in Europe. New Risk • Oct 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł387.1m (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 01
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł207.8m (down 11% from 2Q 2023). Net income: zł11.6m (up 24% from 2Q 2023). Profit margin: 5.6% (up from 4.1% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the IT industry in Europe. New Risk • Aug 05
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł366.6m (US$93.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • May 22
First quarter 2024 earnings released: EPS: zł2.08 (vs zł1.43 in 1Q 2023) First quarter 2024 results: EPS: zł2.08 (up from zł1.43 in 1Q 2023). Revenue: zł153.1m (down 29% from 1Q 2023). Net income: zł9.45m (up 38% from 1Q 2023). Profit margin: 6.2% (up from 3.2% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to zł96.20, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 15x in the IT industry in Poland. Total returns to shareholders of 95% over the past three years. Reported Earnings • Apr 19
Full year 2023 earnings released: EPS: zł6.75 (vs zł4.11 in FY 2022) Full year 2023 results: EPS: zł6.75 (up from zł4.11 in FY 2022). Revenue: zł997.5m (up 33% from FY 2022). Net income: zł31.1m (up 59% from FY 2022). Profit margin: 3.1% (up from 2.6% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Aankondiging • Mar 01
Comp S.A. (WSE:CMP) announces an Equity Buyback for 117,672 shares, representing 2.16% for PLN 16.8 million. Comp S.A. (WSE:CMP) announces a share repurchase program. Under the program, the company will repurchase 117,672 shares, representing 2.16% of its issued share capital, for PLN 16.8 million. The shares will be repurchased at a price of PLN 143 per share. The program will end on March 11, 2024. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł84.60, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 13x in the IT industry in Poland. Total returns to shareholders of 69% over the past three years. Aankondiging • Dec 08
Comp S.A. (WSE:CMP) announces an Equity Buyback for 145,799 shares, for PLN 11.7 million. Comp S.A. (WSE:CMP) announces a share repurchase program. Under the program, the company will repurchase 145,799 shares, for PLN 11.7 million. The shares will be repurchased at a price of PLN 80 per share. The program will end on December 15, 2023. Reported Earnings • Nov 26
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł170.0m (down 14% from 3Q 2022). Net income: zł2.36m (down 71% from 3Q 2022). Profit margin: 1.4% (down from 4.1% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 6.3% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Sep 03
Second quarter 2023 earnings released: EPS: zł2.00 (vs zł0.17 in 2Q 2022) Second quarter 2023 results: EPS: zł2.00 (up from zł0.17 in 2Q 2022). Revenue: zł232.1m (up 43% from 2Q 2022). Net income: zł9.41m (up zł8.58m from 2Q 2022). Profit margin: 4.1% (up from 0.5% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 7.1% growth forecast for the IT industry in Europe. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. New Risk • Aug 08
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite being loss-making. Shareholders have been diluted in the past year (6.2% increase in shares outstanding). Market cap is less than US$100m (zł292.7m market cap, or US$71.9m). New Risk • Jun 08
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 5.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (zł274.7m market cap, or US$65.5m). Aankondiging • Jun 04
Comp S.A., Annual General Meeting, Jun 30, 2023 Comp S.A., Annual General Meeting, Jun 30, 2023, at 12:00 Central European Standard Time. Aankondiging • Jun 02
Comp S.A. (WSE:CMP) announces an Equity Buyback for 235,360 shares, representing 4.2% for PLN 18.83 million. Comp S.A. (WSE:CMP) announces a share repurchase program. Under the program, the company will repurchase 235,360 shares, representing 4.2% of its issued share capital, for PLN 18.83 million. The shares will be repurchased at a price of PLN 80 per share. The program will end on June 30, 2023. Reported Earnings • Nov 25
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: zł197.5m (up 21% from 3Q 2021). Net income: zł8.14m (up 137% from 3Q 2021). Profit margin: 4.1% (up from 2.1% in 3Q 2021). Revenue is forecast to stay flat during the next 3 years compared to a 5.5% growth forecast for the IT industry in Poland. Price Target Changed • Nov 16
Price target decreased to zł46.10 Down from zł70.20, the current price target is provided by 1 analyst. New target price is 16% above last closing price of zł39.90. Stock is down 32% over the past year. The company is forecast to post a net loss per share of zł1.88 compared to earnings per share of zł7.48 last year. Buying Opportunity • Sep 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be zł53.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.1% over the last 3 years. Meanwhile, the company became loss making. Major Estimate Revision • Sep 09
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from zł544.7m to zł616.2m. EPS estimate fell from -zł0.30 to -zł1.88 per share. IT industry in Poland expected to see average net income growth of 19% next year. Consensus price target down from zł70.20 to zł46.10. Share price fell 2.3% to zł42.00 over the past week. Upcoming Dividend • Aug 23
Upcoming dividend of zł3.00 per share Eligible shareholders must have bought the stock before 30 August 2022. Payment date: 14 September 2022. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 6.2%. Lower than top quartile of Polish dividend payers (9.2%). Higher than average of industry peers (3.6%). Aankondiging • Jun 01
Comp S.A., Annual General Meeting, Jun 30, 2022 Comp S.A., Annual General Meeting, Jun 30, 2022, at 13:00 Central European Standard Time. Major Estimate Revision • May 31
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from zł579.5m to zł544.7m. Now expected to report a loss of zł0.30 per share instead of zł1.88 per share profit previously forecast. IT industry in Poland expected to see average net income growth of 25% next year. Consensus price target down from zł89.60 to zł70.20. Share price was steady at zł44.00 over the past week. Reported Earnings • May 22
First quarter 2022 earnings: Revenues miss analyst expectations First quarter 2022 results: Revenue: zł128.9m (down 25% from 1Q 2021). Net loss: zł2.07m (down 119% from profit in 1Q 2021). Revenue missed analyst estimates by 13%. Over the next year, revenue is expected to shrink by 25% compared to a 7.1% growth forecast for the industry in Poland. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target decreased to zł89.60 Down from zł98.00, the current price target is provided by 1 analyst. New target price is 85% above last closing price of zł48.40. Stock is down 12% over the past year. The company is forecast to post earnings per share of zł1.88 for next year compared to zł7.52 last year. Reported Earnings • Apr 11
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: zł7.52 (up from zł3.79 in FY 2020). Revenue: zł820.9m (up 14% from FY 2020). Net income: zł36.0m (up 98% from FY 2020). Profit margin: 4.4% (up from 2.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 13%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is expected to shrink by 3.1% compared to a 9.2% growth forecast for the industry in Poland. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Major Estimate Revision • Dec 10
Consensus EPS estimates fall to zł7.53 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from zł953.1m to zł938.6m. EPS estimate also fell from zł9.09 to zł7.53. Net income forecast to shrink 26% next year vs 24% growth forecast for IT industry in Poland . Consensus price target down from zł98.00 to zł95.80. Share price was steady at zł52.80 over the past week. Reported Earnings • Nov 28
Third quarter 2021 earnings: EPS and revenues exceed analyst expectations Third quarter 2021 results: EPS: zł0.72 (down from zł1.11 in 3Q 2020). Revenue: zł162.9m (up 4.0% from 3Q 2020). Net income: zł3.44m (down 35% from 3Q 2020). Profit margin: 2.1% (down from 3.4% in 3Q 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 8.5%. Earnings per share (EPS) surpassed analyst estimates by 8.5%. Over the next year, revenue is expected to shrink by 3.7% compared to a 5.4% growth forecast for the industry in Poland. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 03
Second quarter 2021 earnings released: EPS zł4.50 (vs zł1.08 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł245.5m (up 120% from 2Q 2020). Net income: zł21.5m (up zł26.7m from 2Q 2020). Profit margin: 8.8% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 06
Upcoming dividend of zł3.00 per share Eligible shareholders must have bought the stock before 13 August 2021. Payment date: 31 August 2021. Trailing yield: 4.8%. Lower than top quartile of Polish dividend payers (5.8%). Higher than average of industry peers (2.6%). Is New 90 Day High Low • Feb 15
New 90-day high: zł62.00 The company is up 19% from its price of zł52.20 on 17 November 2020. The Polish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is up 7.0% over the same period. Reported Earnings • Nov 29
Third quarter 2020 earnings released: EPS zł1.11 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: zł156.7m (down 15% from 3Q 2019). Net income: zł5.31m (down 35% from 3Q 2019). Profit margin: 3.4% (down from 4.4% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Oct 30
New 90-day low: zł53.60 The company is down 16% from its price of zł64.00 on 31 July 2020. The Polish market is down 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is down 11% over the same period. Is New 90 Day High Low • Oct 14
New 90-day low: zł59.40 The company is down 7.0% from its price of zł64.20 on 16 July 2020. The Polish market is down 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 1.0% over the same period. Is New 90 Day High Low • Sep 22
New 90-day low: zł59.80 The company is down 2.0% from its price of zł60.80 on 24 June 2020. The Polish market is down 3.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 8.0% over the same period.