Comp S.A. (CMP.WA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-41.4%

PLN 56.95

vs PLN 97.10 price

Levered DCF

PLN 81.85

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.87

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	16.53×	15.86×	-7.74×	17.56×	7.26×	20.77×	12.64×	3.96×
P/B	2.53×	1.33×	0.76×	0.39×	0.47×	0.51×	0.64×	0.47×
P/S	1.43×	0.67×	0.34×	0.27×	0.3×	0.36×	0.43×	0.33×
EV / EBITDA	8.84×	4.45×	3.69×	5.2×	3.46×	5.35×	6.06×	5.96×
Gross margin	32.9%	31.7%	27.2%	29.1%	29.3%	27.3%	30.9%	29.1%
Operating margin	10.5%	7.9%	6.6%	3.6%	8.4%	4.7%	6.7%	6.2%
Net margin	9.0%	4.2%	-4.5%	1.5%	4.4%	2.1%	2.5%	8.4%
Current ratio	1.21×	1.16×	1.02×	1.09×	1.09×	1.01×	1.08×	1.19×
Debt / equity	0.19×	0.31×	0.3×	0.44×	0.27×	0.4×	0.57×	0.48×
Interest coverage	7.68×	4.55×	3.27×	1.57×	15.84×	4.37×	4.88×	2.71×
Dividend yield	0.1%	0.1%	0.2%	7.2%	6.0%	0.1%	0.0%	0.1%
Payout ratio	2.2%	1.5%	-1.7%	126.1%	41.7%	1.8%	0.7%	0.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.9%	8.4%	-9.8%	2.2%	6.7%	3.0%	3.7%	11.9%
Return on invested capital	13.9%	7.1%	6.1%	3.4%	6.6%	2.7%	4.3%	3.9%
Return on assets	8.5%	3.8%	-4.8%	1.1%	3.8%	1.5%	1.8%	6.1%
Free cash flow yield	-1.3%	28.1%	53.6%	-19.0%	31.0%	26.4%	-5.6%	-10.8%
Earnings yield	6.3%	6.3%	-12.9%	5.7%	14.5%	5.9%	5.9%	25.3%
Enterprise value	PLN 1.2B	PLN 543.7M	PLN 390.6M	PLN 375.9M	PLN 356.5M	PLN 419.2M	PLN 545.1M	PLN 400.8M
Net debt / EBITDA	0.12×	-0.49×	0.44×	2.44×	1.05×	2.04×	2.55×	2.62×
Cash conversion cycle (days)	34	4	28	61	59	93	119	92