Cyfrowy Polsat S.A.

WSE:CPS Stock Report

Market Cap: zł7.7b

Cyfrowy Polsat Valuation

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

Valuation Score

5/6

Valuation Score 5/6

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

Below Fair Value: CPS (PLN12.01) is trading below our estimate of fair value (PLN24.75)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for CPS. This is calculated by dividing CPS's market cap by their current earnings.
What is CPS's PE Ratio?
PE Ratio14x
Earningszł547.80m
Market Capzł7.68b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for CPS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.8x
CDR CD Projekt
27.8x17.1%zł15.6b
PLW PlayWay
14.2x-6.9%zł1.8b
WPL Wirtualna Polska Holding
16.3x17.4%zł2.3b
000156 Wasu Media HoldingLtd
28.8xn/aCN¥14.7b
CPS Cyfrowy Polsat
14x16.3%zł7.7b

Price-To-Earnings vs Peers: CPS is good value based on its Price-To-Earnings Ratio (14x) compared to the peer average (21.8x).

Price to Earnings Ratio vs Industry

How does CPS's PE Ratio compare vs other companies in the European Media Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
CPS 14.0xIndustry Avg. 12.9xNo. of Companies16PE01020304050+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CPS is expensive based on its Price-To-Earnings Ratio (14x) compared to the European Media industry average (12.8x).

Price to Earnings Ratio vs Fair Ratio

What is CPS'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.

CPS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14x
Fair PE Ratio18.2x

Price-To-Earnings vs Fair Ratio: CPS is good value based on its Price-To-Earnings Ratio (14x) compared to the estimated Fair Price-To-Earnings Ratio (18.2x).

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 CPS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł12.01
zł14.73
+22.6%
13.5%zł17.50zł11.50n/a7
Nov ’25zł12.59
zł14.73
+17.0%
13.5%zł17.50zł11.50n/a7
Oct ’25zł12.80
zł14.76
+15.3%
13.5%zł17.50zł11.50n/a7
Sep ’25zł14.81
zł14.76
-0.4%
13.5%zł17.50zł11.50n/a7
Aug ’25zł12.72
zł13.80
+8.5%
12.8%zł16.10zł11.50n/a6
Jul ’25zł12.35
zł13.57
+9.9%
11.2%zł15.40zł11.50n/a6
Jun ’25zł12.50
zł13.57
+8.6%
11.2%zł15.40zł11.50n/a6
May ’25zł10.06
zł13.14
+30.7%
14.1%zł15.40zł9.90n/a7
Apr ’25zł10.74
zł13.42
+24.9%
13.9%zł15.40zł9.90n/a6
Mar ’25zł11.33
zł14.02
+23.7%
7.4%zł15.40zł12.20n/a6
Feb ’25zł10.75
zł14.37
+33.7%
4.5%zł15.40zł13.50n/a6
Jan ’25zł12.33
zł14.37
+16.5%
4.5%zł15.40zł13.50n/a6
Dec ’24zł12.90
zł14.37
+11.4%
4.5%zł15.40zł13.50n/a6
Nov ’24zł13.12
zł15.70
+19.7%
12.0%zł18.80zł13.50zł12.596
Oct ’24zł12.09
zł17.10
+41.5%
13.7%zł21.00zł13.50zł12.806
Sep ’24zł13.80
zł17.77
+28.8%
9.6%zł21.00zł15.42zł14.816
Aug ’24zł16.47
zł21.28
+29.2%
29.5%zł35.00zł16.70zł12.726
Jul ’24zł16.51
zł22.18
+34.4%
26.2%zł35.00zł17.80zł12.356
Jun ’24zł15.64
zł22.18
+41.8%
26.2%zł35.00zł17.80zł12.506
May ’24zł17.44
zł22.30
+27.9%
25.7%zł35.00zł18.50zł10.066
Apr ’24zł16.74
zł22.57
+34.8%
24.8%zł35.00zł19.00zł10.746
Mar ’24zł17.48
zł22.57
+29.1%
24.8%zł35.00zł19.00zł11.336
Feb ’24zł18.20
zł22.28
+22.4%
25.8%zł35.00zł18.30zł10.756
Jan ’24zł17.61
zł22.28
+26.5%
25.8%zł35.00zł18.30zł12.336
Dec ’23zł18.59
zł23.40
+25.9%
26.1%zł35.00zł18.30zł12.906
Nov ’23zł17.90
zł27.52
+53.7%
27.0%zł39.20zł18.30zł13.126

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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