KGHM Polska Miedz S.A.

WSE:KGH Stock Report

Market Cap: zł23.5b

KGHM Polska Miedz Valuation

Is KGH 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: KGH (PLN117.4) is trading below our estimate of fair value (PLN218.18)

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

Key Valuation Metric

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

Key metric: As KGH is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for KGH. This is calculated by dividing KGH's market cap by their current revenue.
What is KGH's PS Ratio?
PS Ratio0.7x
Saleszł33.95b
Market Capzł23.48b

Price to Sales Ratio vs Peers

How does KGH's PS Ratio compare to its peers?

The above table shows the PS ratio for KGH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.8x
KTY Grupa Kety
1.3x6.2%zł6.8b
JSW Jastrzebska Spólka Weglowa
0.2x3.6%zł2.5b
000630 Tongling Nonferrous Metals GroupLtd
0.3x12.9%CN¥42.5b
LUN Lundin Mining
1.6x5.7%CA$9.2b
KGH KGHM Polska Miedz
0.7x1.0%zł23.5b

Price-To-Sales vs Peers: KGH is good value based on its Price-To-Sales Ratio (0.7x) compared to the peer average (0.8x).

Price to Sales Ratio vs Industry

How does KGH's PS Ratio compare vs other companies in the European Metals and Mining Industry?

36 CompaniesPrice / SalesEstimated GrowthMarket Cap
KGH 0.7xIndustry Avg. 0.7xNo. of Companies36PS00.81.62.43.24+
36 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: KGH is expensive based on its Price-To-Sales Ratio (0.7x) compared to the European Metals and Mining industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

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

KGH PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.7x
Fair PS Ratio0.7x

Price-To-Sales vs Fair Ratio: KGH is good value based on its Price-To-Sales Ratio (0.7x) compared to the estimated Fair Price-To-Sales Ratio (0.7x).

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 KGH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł117.40
zł144.13
+22.8%
23.1%zł190.00zł82.00n/a11
Dec ’25zł127.25
zł146.77
+15.3%
23.1%zł190.00zł82.00n/a11
Nov ’25zł149.45
zł159.96
+7.0%
15.3%zł200.00zł122.40n/a11
Oct ’25zł162.05
zł159.10
-1.8%
14.1%zł200.00zł124.00n/a11
Sep ’25zł138.80
zł157.16
+13.2%
17.1%zł200.00zł112.70n/a11
Aug ’25zł132.20
zł156.68
+18.5%
18.2%zł200.00zł112.70n/a10
Jul ’25zł147.90
zł151.68
+2.6%
19.4%zł200.00zł112.70n/a10
Jun ’25zł151.70
zł148.18
-2.3%
21.1%zł200.00zł110.00n/a10
May ’25zł140.65
zł118.43
-15.8%
32.1%zł185.00zł62.00n/a9
Apr ’25zł114.15
zł98.01
-14.1%
24.2%zł141.00zł62.00n/a10
Mar ’25zł109.10
zł96.71
-11.4%
25.0%zł141.00zł62.00n/a10
Feb ’25zł111.85
zł96.71
-13.5%
25.0%zł141.00zł62.00n/a10
Jan ’25zł122.70
zł98.41
-19.8%
24.8%zł141.00zł62.00n/a10
Dec ’24zł121.40
zł98.61
-18.8%
24.0%zł141.00zł62.00zł127.2510
Nov ’24zł112.25
zł103.19
-8.1%
26.4%zł151.67zł70.00zł149.459
Oct ’24zł111.95
zł106.74
-4.7%
23.5%zł151.67zł75.00zł162.059
Sep ’24zł117.90
zł107.07
-9.2%
24.8%zł151.67zł75.00zł138.809
Aug ’24zł122.15
zł109.19
-10.6%
24.9%zł151.67zł75.00zł132.209
Jul ’24zł112.40
zł111.47
-0.8%
23.3%zł151.67zł75.00zł147.9010
Jun ’24zł108.55
zł111.07
+2.3%
23.6%zł151.67zł75.00zł151.7010
May ’24zł119.40
zł113.77
-4.7%
20.6%zł151.67zł75.00zł140.6511
Apr ’24zł122.25
zł111.04
-9.2%
20.2%zł151.70zł75.00zł114.1511
Mar ’24zł132.20
zł112.65
-14.8%
17.4%zł149.00zł75.00zł109.1011
Feb ’24zł138.85
zł112.01
-19.3%
17.5%zł149.00zł75.00zł111.8511
Jan ’24zł126.75
zł117.26
-7.5%
19.9%zł160.00zł75.00zł122.7012
Dec ’23zł119.95
zł110.51
-7.9%
21.9%zł160.00zł75.00zł121.4012

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/19 08:15
End of Day Share Price 2024/12/19 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 here.

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 .

Analyst Sources

KGHM Polska Miedz S.A. is covered by 33 analysts. 10 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
Edward SterckBMO Capital Markets Equity Research
Romy KrugerBNP Paribas Exane