New Risk • 9h
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 41% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (41% accrual ratio). Market cap is less than US$10m (zł13.3m market cap, or US$3.67m). Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Revenue is less than US$5m (zł11m revenue, or US$3.0m). Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł3.00, the stock trades at a trailing P/E ratio of 34x. Average trailing P/E is 21x in the Software industry in Poland. Total returns to shareholders of 95% over the past three years. Aankondiging • Feb 10
Logintrade S.A. to Report Q4, 2025 Results on Feb 12, 2026 Logintrade S.A. announced that they will report Q4, 2025 results on Feb 12, 2026 New Risk • Dec 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.3% Last year net profit margin: 8.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (zł16.0m market cap, or US$4.45m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.3% net profit margin). Revenue is less than US$5m (zł10m revenue, or US$2.8m). Aankondiging • Nov 13
Logintrade S.A. to Report Q3, 2025 Results on Nov 14, 2025 Logintrade S.A. announced that they will report Q3, 2025 results on Nov 14, 2025 New Risk • Nov 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 9.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.6% average weekly change). High level of non-cash earnings (48% accrual ratio). Market cap is less than US$10m (zł14.5m market cap, or US$3.96m). Minor Risk Revenue is less than US$5m (zł9.9m revenue, or US$2.7m). Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to zł2.58, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 18x in the Software industry in Poland. Total returns to shareholders of 148% over the past three years. Buy Or Sell Opportunity • Aug 20
Now 24% overvalued The stock has been flat over the last 90 days, currently trading at zł3.14. The fair value is estimated to be zł2.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 24%. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to zł2.90, the stock trades at a trailing P/E ratio of 9.1x. Average trailing P/E is 22x in the Software industry in Poland. Total returns to shareholders of 154% over the past three years. Buy Or Sell Opportunity • Jun 30
Now 22% overvalued Over the last 90 days, the stock has fallen 12% to zł3.18. The fair value is estimated to be zł2.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 24%. New Risk • Jun 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (21% accrual ratio). Market cap is less than US$10m (zł16.7m market cap, or US$4.51m). Minor Risk Revenue is less than US$5m (zł9.9m revenue, or US$2.7m). Buy Or Sell Opportunity • Jun 13
Now 30% overvalued Over the last 90 days, the stock has fallen 9.2% to zł3.34. The fair value is estimated to be zł2.57, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 24%. Buy Or Sell Opportunity • May 29
Now 21% overvalued Over the last 90 days, the stock has fallen 9.7% to zł3.16. The fair value is estimated to be zł2.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Earnings per share has grown by 20%. New Risk • Mar 30
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Market cap is less than US$10m (zł18.7m market cap, or US$4.85m). Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to zł3.14, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 16x in the Software industry in Poland. Total returns to shareholders of 214% over the past three years. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to zł4.20, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 14x in the Software industry in Poland. Total returns to shareholders of 400% over the past three years. Buy Or Sell Opportunity • Oct 17
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 8.2% to zł3.18. The fair value is estimated to be zł2.50, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.4% over the last year. Earnings per share has grown by 30%. New Risk • Sep 30
New major risk - Revenue and earnings growth Revenue has declined by 8.4% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.8% average weekly change). Revenue has declined by 8.4% over the past year. Market cap is less than US$10m (zł16.0m market cap, or US$4.18m). Minor Risk Revenue is less than US$5m (zł8.9m revenue, or US$2.3m). Buy Or Sell Opportunity • Sep 27
Now 27% overvalued after recent price rise Over the last 90 days, the stock has risen 7.4% to zł3.20. The fair value is estimated to be zł2.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 56%. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł3.12, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 21x in the Software industry in Poland. Total returns to shareholders of 259% over the past three years. Buy Or Sell Opportunity • Aug 19
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 4.0% to zł3.12. The fair value is estimated to be zł2.53, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 56%. Buy Or Sell Opportunity • Jul 19
Now 30% overvalued after recent price rise Over the last 90 days, the stock has risen 2.8% to zł2.94. The fair value is estimated to be zł2.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 56%. Buy Or Sell Opportunity • Jul 01
Now 30% overvalued Over the last 90 days, the stock has fallen 14% to zł2.96. The fair value is estimated to be zł2.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 56%. Buy Or Sell Opportunity • Jun 20
Now 27% overvalued Over the last 90 days, the stock has fallen 26% to zł2.88. The fair value is estimated to be zł2.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 56%. Buy Or Sell Opportunity • Jun 10
Now 27% overvalued Over the last 90 days, the stock has fallen 23% to zł2.86. The fair value is estimated to be zł2.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 56%. New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Market cap is less than US$10m (zł13.3m market cap, or US$3.38m). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Revenue is less than US$5m (zł8.9m revenue, or US$2.3m). Buy Or Sell Opportunity • May 23
Now 23% overvalued Over the last 90 days, the stock has fallen 27% to zł2.76. The fair value is estimated to be zł2.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 56%. Valuation Update With 7 Day Price Move • May 22
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to zł2.48, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 20x in the Software industry in Poland. Total returns to shareholders of 138% over the past three years. Buy Or Sell Opportunity • May 06
Now 24% overvalued Over the last 90 days, the stock has fallen 5.4% to zł2.82. The fair value is estimated to be zł2.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 56%. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to zł2.90, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 22x in the Software industry in Poland. Total returns to shareholders of 166% over the past three years. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to zł3.76, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 24x in the Software industry in Poland. Total returns to shareholders of 332% over the past three years. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to zł2.88, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 27x in the Software industry in Poland. Total returns to shareholders of 153% over the past three years. Buy Or Sell Opportunity • Jan 24
Now 23% overvalued Over the last 90 days, the stock has fallen 16% to zł2.60. The fair value is estimated to be zł2.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 56%. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to zł2.70, the stock trades at a trailing P/E ratio of 12.7x. Average trailing P/E is 22x in the Software industry in Poland. Total returns to shareholders of 170% over the past three years. Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł2.21m (up 14% from 3Q 2022). Net income: zł218.6k (down 49% from 3Q 2022). Profit margin: 9.9% (down from 22% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to zł3.40, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 24x in the Software industry in Poland. Total returns to shareholders of 274% over the past three years. Buying Opportunity • Aug 18
Now 20% undervalued Over the last 90 days, the stock is up 74%. The fair value is estimated to be zł4.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 38%. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to zł3.28, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 22x in the Software industry in Poland. Total returns to shareholders of 148% over the past three years. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to zł2.90, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 22x in the Software industry in Poland. Total returns to shareholders of 169% over the past three years. Aankondiging • Jun 02
Logintrade S.A., Annual General Meeting, Jun 27, 2023 Logintrade S.A., Annual General Meeting, Jun 27, 2023, at 10:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to zł1.65, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 21x in the Software industry in Poland. Total returns to shareholders of 244% over the past three years. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to zł1.90, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 23x in the Software industry in Poland. Total returns to shareholders of 375% over the past three years. Reported Earnings • Feb 20
Full year 2022 earnings released: EPS: zł0.18 (vs zł0.052 in FY 2021) Full year 2022 results: EPS: zł0.18 (up from zł0.052 in FY 2021). Revenue: zł8.25m (up 5.2% from FY 2021). Net income: zł892.3k (up 242% from FY 2021). Profit margin: 11% (up from 3.3% in FY 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł1.73, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 17x in the Software industry in Poland. Total returns to shareholders of 204% over the past three years. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 18% share price gain to zł1.20, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 19x in the Online Retail industry in Poland. Total returns to shareholders of 100% over the past three years. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improved over the past week After last week's 24% share price gain to zł1.02, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 24x in the Online Retail industry in Poland. Total returns to shareholders of 127% over the past three years. Reported Earnings • Aug 15
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł2.45m (up 79% from 2Q 2021). Net income: zł256.1k (up zł218.8k from 2Q 2021). Profit margin: 10% (up from 2.7% in 2Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 24% share price gain to zł1.09, the stock trades at a trailing P/E ratio of 29.4x. Average trailing P/E is 27x in the Online Retail industry in Poland. Total returns to shareholders of 102% over the past three years. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improved over the past week After last week's 19% share price gain to zł1.11, the stock trades at a trailing P/E ratio of 29.9x. Average trailing P/E is 23x in the Online Retail industry in Poland. Total returns to shareholders of 152% over the past three years. Aankondiging • Jun 07
Logintrade S.A., Annual General Meeting, Jun 29, 2022 Logintrade S.A., Annual General Meeting, Jun 29, 2022, at 10:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 16% share price gain to zł1.09, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 26x in the Online Retail industry in Poland. Total returns to shareholders of 263% over the past three years. Reported Earnings • Feb 18
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: zł0.043 (up from zł0.04 in FY 2020). Revenue: zł5.72m (up 5.2% from FY 2020). Net income: zł214.3k (up 6.2% from FY 2020). Profit margin: 3.7% (in line with FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improved over the past week After last week's 17% share price gain to zł1.04, the stock trades at a trailing P/E ratio of 21.5x. Average trailing P/E is 26x in the Online Retail industry in Poland. Total returns to shareholders of 136% over the past three years. Is New 90 Day High Low • Feb 18
New 90-day low: zł0.93 The company is down 4.0% from its price of zł0.97 on 20 November 2020. The Polish market is up 13% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Online Retail industry, which is also down 4.0% over the same period. Reported Earnings • Feb 17
Full year 2020 earnings released: EPS zł0.048 (vs zł0.10 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: zł5.44m (down 5.2% from FY 2019). Net income: zł242.5k (down 53% from FY 2019). Profit margin: 4.5% (down from 9.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Jan 04
New 90-day high: zł1.45 The company is up 58% from its price of zł0.92 on 06 October 2020. The Polish market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is up 34% over the same period. Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment improved over the past week After last week's 21% share price gain to zł1.40, the stock is trading at a trailing P/E ratio of 10.7x, up from the previous P/E ratio of 8.9x. This compares to an average P/E of 37x in the Online Retail industry in Europe. Total returns to shareholders over the past three years are 87%. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improved over the past week After last week's 24% share price gain to zł1.40, the stock is trading at a trailing P/E ratio of 10.7x, up from the previous P/E ratio of 8.6x. This compares to an average P/E of 36x in the Online Retail industry in Europe. Total returns to shareholders over the past three years are 100%. Is New 90 Day High Low • Dec 16
New 90-day high: zł1.28 The company is up 28% from its price of zł1.00 on 17 September 2020. The Polish market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, its price trend is similar to the Online Retail industry, which is also up 28% over the same period. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 21% share price gain to zł1.17, the stock is trading at a trailing P/E ratio of 8.9x, up from the previous P/E ratio of 7.4x. This compares to an average P/E of 36x in the Online Retail industry in Europe. Total returns to shareholders over the past three years are 67%. Valuation Update With 7 Day Price Move • Nov 27
Market bids up stock over the past week After last week's 18% share price gain to zł1.14, the stock is trading at a trailing P/E ratio of 8.7x, up from the previous P/E ratio of 7.4x. This compares to an average P/E of 34x in the Online Retail industry in Europe. Total returns to shareholders over the past three years are 63%. Valuation Update With 7 Day Price Move • Nov 16
Market bids up stock over the past week After last week's 42% share price gain to zł1.18, the stock is trading at a trailing P/E ratio of 9.8x, up from the previous P/E ratio of 6.9x. This compares to an average P/E of 17x in the Online Retail industry in Poland. Total returns to shareholders over the past three years are 49%. Is New 90 Day High Low • Nov 04
New 90-day low: zł0.86 The company is down 37% from its price of zł1.36 on 05 August 2020. The Polish market is down 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is down 17% over the same period. Valuation Update With 7 Day Price Move • Oct 21
Market bids up stock over the past week After last week's 21% share price gain to zł1.10, the stock is trading at a trailing P/E ratio of 9.1x, up from the previous P/E ratio of 7.5x. This compares to an average P/E of 18x in the Online Retail industry in Poland. Total returns to shareholders over the past three years are 39%.