Gielda Papierów Wartosciowych w Warszawie S.A.

DB:WSX Stock Report

Market Cap: €486.7m

Gielda Papierów Wartosciowych w Warszawie Valuation

Is WSX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of WSX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€14.14
Fair Value
18.4% undervalued intrinsic discount
5
Number of Analysts

Below Fair Value: WSX (€11.54) is trading below our estimate of fair value (€14.14)

Significantly Below Fair Value: WSX is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for WSX?

Key metric: As WSX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for WSX. This is calculated by dividing WSX's market cap by their current earnings.
What is WSX's PE Ratio?
PE Ratio14x
Earningszł148.72m
Market Capzł2.08b

Price to Earnings Ratio vs Peers

How does WSX's PE Ratio compare to its peers?

The above table shows the PE ratio for WSX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average27.7x
O4B OVB Holding
16.8x3.5%€322.1m
MLP MLP
12.7x7.8%€876.7m
JDC JDC Group
45.6x22.8%€267.7m
EUX EUWAX
35.8xn/a€205.0m
WSX Gielda Papierów Wartosciowych w Warszawie
14x6.2%€2.1b

Price-To-Earnings vs Peers: WSX is good value based on its Price-To-Earnings Ratio (14x) compared to the peer average (27.7x).

Price to Earnings Ratio vs Industry

How does WSX's PE Ratio compare vs other companies in the DE Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HXCK Ernst Russ
4.5x-20.2%US$214.06m
SPT6 Sparta
1.3xn/aUS$95.97m
IPOK Heidelberger Beteiligungsholding
4.4xn/aUS$25.48m
XE8 Black Sea Property
0.7xn/aUS$8.34m
No more companies available in this PE range
WSX 14.0xIndustry Avg. 27.4xNo. of Companies7PE020406080100+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: WSX is good value based on its Price-To-Earnings Ratio (14x) compared to the German Capital Markets industry average (27.1x).

Price to Earnings Ratio vs Fair Ratio

What is WSX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

WSX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14x
Fair PE Ratio14.2x

Price-To-Earnings vs Fair Ratio: WSX is good value based on its Price-To-Earnings Ratio (14x) compared to the estimated Fair Price-To-Earnings Ratio (14.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst WSX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€11.54
€11.68
+1.2%
7.2%€13.25€10.69n/a5
Apr ’26€11.16
€11.80
+5.7%
6.4%€13.18€10.85n/a5
Mar ’26€9.90
€11.80
+19.2%
6.4%€13.18€10.85n/a5
Feb ’26€9.66
€11.80
+22.2%
6.4%€13.18€10.85n/a5
Jan ’26€9.64
€11.58
+20.1%
6.4%€12.93€10.64n/a5
Dec ’25€9.60
€11.51
+19.9%
6.5%€12.86€10.59n/a5
Nov ’25€9.59
€11.39
+18.8%
6.5%€12.73€10.48n/a5
Oct ’25€10.44
€11.56
+10.7%
6.7%€12.95€10.54n/a5
Sep ’25€10.38
€11.40
+9.9%
8.1%€12.93€10.36n/a5
Aug ’25€10.12
€10.77
+6.4%
12.2%€12.81€8.88n/a5
Jul ’25€11.38
€10.77
-5.4%
12.2%€12.81€8.88n/a5
Jun ’25€10.56
€10.24
-3.0%
13.6%€12.88€8.93n/a5
May ’25€10.50
€10.08
-4.0%
13.8%€12.79€8.86€11.155
Apr ’25€9.45
€10.08
+6.7%
13.8%€12.79€8.86€11.165
Mar ’25€9.95
€10.08
+1.3%
13.8%€12.79€8.86€9.905
Feb ’25€10.19
€10.08
-1.0%
13.8%€12.79€8.86€9.665
Jan ’25€9.89
€9.32
-5.8%
4.3%€9.83€8.89€9.645
Dec ’24€9.01
€9.32
+3.4%
4.3%€9.83€8.89€9.605
Nov ’24€9.05
€8.66
-4.3%
2.6%€8.98€8.32€9.595
Oct ’24€7.79
€8.66
+11.2%
2.6%€8.98€8.32€10.445
Sep ’24€8.12
€8.66
+6.7%
2.6%€8.98€8.32€10.385
Aug ’24€8.55
€8.76
+2.6%
2.6%€9.09€8.42€10.125
Jul ’24€8.49
€7.61
-10.4%
10.7%€8.23€6.04€11.385
Jun ’24€8.44
€7.61
-9.8%
10.7%€8.23€6.04€10.565
May ’24€7.89
€7.61
-3.5%
10.7%€8.23€6.04€10.505
AnalystConsensusTarget
Consensus Narrative from 5 Analysts
€11.59
Fair Value
0.5% undervalued intrinsic discount
5
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/02 15:57
End of Day Share Price 2025/05/02 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Gielda Papierów Wartosciowych w Warszawie S.A. is covered by 16 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kamil KliszczBiuro maklerskie mBanku
Andrzej PowierzaCitigroup Inc
Lukasz JanczakErste Group Bank AG