JWW Invest S.A. (JWW.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

-387.5%

-PLN 8.51

vs PLN 2.96 price

Levered DCF

PLN 7.02

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.81

Grey 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	8.66×	6.76×	6.97×	5.38×	9.53×	32.97×	4.38×	6.31×
P/B	0.79×	0.86×	1.25×	0.61×	0.63×	1.14×	0.93×	0.56×
P/S	0.22×	0.25×	0.35×	0.22×	0.23×	0.59×	0.34×	0.16×
EV / EBITDA	4.67×	3.33×	3.39×	2.08×	3.06×	8.85×	2.62×	4.92×
Gross margin	4.1%	95.8%	92.9%	93.8%	94.7%	92.6%	96.6%	96.4%
Operating margin	3.0%	4.3%	6.0%	6.5%	2.9%	3.1%	10.1%	-3.1%
Net margin	2.5%	3.7%	5.0%	4.2%	2.5%	1.8%	7.7%	2.5%
Current ratio	1.73×	1.65×	1.59×	2.83×	2.71×	2.77×	3.03×	1.56×
Debt / equity	0.17×	0.09×	0.1×	0.07×	0.06×	0.1×	0.09×	0.37×
Interest coverage	8.42×	14.87×	39.26×	75.29×	9.14×	21.34×	40.64×	-10.71×
Dividend yield	4.3%	6.1%	2.1%	3.5%	0.0%	0.0%	0.0%	0.0%
Payout ratio	37.6%	41.1%	14.9%	18.6%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.0%	12.7%	17.9%	11.4%	6.8%	3.5%	21.0%	9.1%
Return on invested capital	6.8%	12.4%	16.6%	11.1%	7.0%	3.4%	19.6%	-7.3%
Return on assets	4.4%	6.3%	7.5%	7.6%	4.5%	2.3%	14.7%	4.0%
Free cash flow yield	-19.2%	-8.8%	29.8%	-0.2%	14.1%	19.8%	32.2%	-4.8%
Earnings yield	11.4%	14.9%	14.4%	18.7%	10.8%	3.0%	22.7%	16.1%
Enterprise value	PLN 31.1M	PLN 26.5M	PLN 32.9M	PLN 13.5M	PLN 10.1M	PLN 22.2M	PLN 21M	PLN 16.9M
Net debt / EBITDA	-0.34×	-0.96×	-1.36×	-0.83×	-2.32×	-2.97×	-0.26×	1.69×
Cash conversion cycle (days)	160	71	116	84	91	-177	-133	-4,341