Powszechny Zaklad Ubezpieczen SA

WSE:PZU Stock Report

Market Cap: zł49.1b

Powszechny Zaklad Ubezpieczen Valuation

Is PZU 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 PZU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
zł124.43
Fair Value
54.3% undervalued intrinsic discount
11
Number of Analysts

Below Fair Value: PZU (PLN56.88) is trading below our estimate of fair value (PLN124.43)

Significantly Below Fair Value: PZU is trading below fair value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PZU. This is calculated by dividing PZU's market cap by their current earnings.
What is PZU's PE Ratio?
PE Ratio9.3x
Earningszł5.26b
Market Capzł49.12b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PZU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average13.4x
BBSE3 BB Seguridade Participações
9x4.4%R$78.4b
GJF Gjensidige Forsikring
24x12.7%NOK 121.4b
MAP Mapfre
9.2x1.0%€8.9b
ASRNL ASR Nederland
11.2x4.1%€11.2b
PZU Powszechny Zaklad Ubezpieczen
9.3x3.8%zł49.1b

Price-To-Earnings vs Peers: PZU is good value based on its Price-To-Earnings Ratio (9.3x) compared to the peer average (13.4x).

Price to Earnings Ratio vs Industry

How does PZU's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
PZU 9.3xIndustry Avg. 13.1xNo. of Companies13PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PZU is good value based on its Price-To-Earnings Ratio (9.3x) compared to the European Insurance industry average (13.1x).

Price to Earnings Ratio vs Fair Ratio

What is PZU'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.

PZU PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate PZU's Price-To-Earnings Fair Ratio for valuation analysis.

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 PZU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł56.88
zł54.62
-4.0%
11.7%zł64.90zł41.30n/a11
Mar ’26zł53.92
zł54.62
+1.3%
11.7%zł64.90zł41.30n/a11
Feb ’26zł50.00
zł54.58
+9.2%
12.2%zł64.90zł41.30n/a10
Jan ’26zł45.84
zł54.58
+19.1%
12.2%zł64.90zł41.30n/a10
Dec ’25zł44.20
zł52.71
+19.3%
12.7%zł62.20zł41.30n/a10
Nov ’25zł39.70
zł52.71
+32.8%
12.7%zł62.20zł41.30n/a10
Oct ’25zł42.20
zł52.71
+24.9%
12.7%zł62.20zł41.30n/a10
Sep ’25zł46.64
zł52.48
+12.5%
12.5%zł62.20zł41.30n/a10
Aug ’25zł47.61
zł52.88
+11.1%
12.7%zł62.20zł41.30n/a10
Jul ’25zł51.34
zł52.93
+3.1%
12.8%zł62.20zł41.30n/a10
Jun ’25zł50.00
zł52.93
+5.9%
12.8%zł62.20zł41.30n/a10
May ’25zł51.28
zł52.94
+3.2%
9.9%zł62.20zł41.60n/a9
Apr ’25zł48.81
zł51.05
+4.6%
9.2%zł56.00zł41.60n/a8
Mar ’25zł49.57
zł50.80
+2.5%
8.8%zł55.60zł41.60zł53.928
Feb ’25zł48.01
zł50.67
+5.5%
8.7%zł55.60zł41.60zł50.008
Jan ’25zł47.27
zł50.10
+6.0%
7.7%zł53.00zł41.60zł45.848
Dec ’24zł46.74
zł45.90
-1.8%
16.9%zł53.00zł27.70zł44.209
Nov ’24zł47.61
zł45.86
-3.7%
12.0%zł53.00zł36.00zł39.708
Oct ’24zł41.37
zł42.32
+2.3%
12.7%zł53.00zł36.00zł42.208
Sep ’24zł42.24
zł42.04
-0.5%
13.1%zł53.80zł36.00zł46.648
Aug ’24zł40.77
zł39.62
-2.8%
14.3%zł49.00zł27.70zł47.619
Jul ’24zł39.41
zł39.44
+0.07%
14.7%zł49.00zł27.70zł51.349
Jun ’24zł39.63
zł39.44
-0.5%
14.7%zł49.00zł27.70zł50.009
May ’24zł38.30
zł38.54
+0.6%
14.9%zł49.00zł27.70zł51.289
Apr ’24zł35.08
zł37.71
+7.5%
14.9%zł49.00zł27.70zł48.819
Mar ’24zł36.76
zł38.71
+5.3%
12.5%zł49.00zł34.00zł49.578
Analyst Price Target
Consensus Narrative from 11 Analysts
zł54.62
Fair Value
4.1% overvalued intrinsic discount
11
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/03/18 03:38
End of Day Share Price 2025/03/18 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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

Powszechny Zaklad Ubezpieczen SA is covered by 27 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Andrew BroadfieldBarclays
Kamil KliszczBiuro maklerskie mBanku
Thomas JacquetBNP Paribas Exane