Asseco Poland S.A.

WSE:ACP Stock Report

Market Cap: zł5.9b

Asseco Poland Valuation

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

Below Fair Value: ACP (PLN85.2) is trading below our estimate of fair value (PLN276.05)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ACP. This is calculated by dividing ACP's market cap by their current earnings.
What is ACP's PE Ratio?
PE Ratio11.9x
Earningszł487.80m
Market Capzł5.86b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ACP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.9x
ABS Asseco Business Solutions
17.6xn/azł1.9b
WAS Wasko
8.4xn/azł144.5m
LSI LSI Software
10.6xn/azł47.6m
VRC Vercom
31.2x16.3%zł2.6b
ACP Asseco Poland
11.9x8.2%zł5.9b

Price-To-Earnings vs Peers: ACP is good value based on its Price-To-Earnings Ratio (11.9x) compared to the peer average (16.7x).

Price to Earnings Ratio vs Industry

How does ACP's PE Ratio compare vs other companies in the PL Software Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No more companies available in this PE range
ACP 11.9xIndustry Avg. 16.4xNo. of Companies5PE01224364860+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ACP is good value based on its Price-To-Earnings Ratio (11.9x) compared to the Polish Software industry average (16.4x).

Price to Earnings Ratio vs Fair Ratio

What is ACP'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.

ACP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.9x
Fair PE Ratio26.3x

Price-To-Earnings vs Fair Ratio: ACP is good value based on its Price-To-Earnings Ratio (11.9x) compared to the estimated Fair Price-To-Earnings Ratio (26.3x).

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 ACP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł85.20
zł96.28
+13.0%
5.0%zł102.50zł89.12n/a5
Nov ’25zł90.10
zł96.28
+6.9%
5.0%zł102.50zł89.12n/a5
Oct ’25zł85.80
zł96.38
+12.3%
5.1%zł103.00zł89.12n/a5
Sep ’25zł90.30
zł91.78
+1.6%
6.6%zł103.00zł86.00n/a5
Aug ’25zł84.10
zł91.78
+9.1%
6.6%zł103.00zł86.00n/a5
Jul ’25zł80.45
zł91.15
+13.3%
6.3%zł103.00zł86.00n/a6
Jun ’25zł82.65
zł91.15
+10.3%
6.3%zł103.00zł86.00n/a6
May ’25zł80.00
zł88.95
+11.2%
7.4%zł103.00zł82.60n/a6
Apr ’25zł77.50
zł88.95
+14.8%
7.4%zł103.00zł82.60n/a6
Mar ’25zł75.25
zł88.95
+18.2%
7.4%zł103.00zł82.60n/a6
Feb ’25zł72.95
zł88.95
+21.9%
7.4%zł103.00zł82.60n/a6
Jan ’25zł73.10
zł88.95
+21.7%
7.4%zł103.00zł82.60n/a6
Dec ’24zł77.05
zł89.14
+15.7%
8.1%zł103.00zł82.60n/a5
Nov ’24zł77.05
zł91.70
+19.0%
7.5%zł103.00zł84.40zł90.105
Oct ’24zł71.70
zł94.08
+31.2%
11.1%zł112.00zł86.00zł85.804
Sep ’24zł74.30
zł94.46
+27.1%
9.9%zł112.00zł86.00zł90.305
Aug ’24zł80.35
zł93.74
+16.7%
10.8%zł112.00zł82.40zł84.105
Jul ’24zł80.25
zł92.00
+14.6%
14.5%zł112.00zł77.60zł80.454
Jun ’24zł83.60
zł92.00
+10.0%
14.5%zł112.00zł77.60zł82.654
May ’24zł84.40
zł88.00
+4.3%
14.4%zł112.00zł77.60zł80.005
Apr ’24zł76.10
zł88.00
+15.6%
14.4%zł112.00zł77.60zł77.505
Mar ’24zł80.40
zł88.00
+9.5%
14.4%zł112.00zł77.60zł75.255
Feb ’24zł75.75
zł88.00
+16.2%
14.4%zł112.00zł77.60zł72.955
Jan ’24zł72.60
zł88.00
+21.2%
14.4%zł112.00zł77.60zł73.105
Dec ’23zł74.10
zł88.00
+18.8%
14.4%zł112.00zł77.60zł77.055
Nov ’23zł68.75
zł86.36
+25.6%
15.2%zł112.00zł75.40zł77.055

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

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