Kino Polska TV Spolka Akcyjna (KPL.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

+861.3%

PLN 168.23

vs PLN 17.50 price

Levered DCF

PLN 81.79

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.31

Safe zone

Rating

S-

Overall 5 / 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	5.66×	6.38×	5.44×	4.96×	6.43×	5.69×	10.37×	5.74×
P/B	1.25×	1.43×	1.16×	1.16×	1.86×	1.32×	2.16×	2.62×
P/S	1.35×	1.35×	0.96×	0.83×	1.21×	0.73×	0.96×	1.4×
EV / EBITDA	2.67×	2.79×	2.11×	1.79×	2.56×	2.19×	3.36×	3.44×
Gross margin	33.8%	33.1%	26.8%	44.9%	44.3%	39.0%	49.0%	54.9%
Operating margin	28.2%	26.7%	22.6%	21.3%	23.3%	16.6%	12.9%	27.9%
Net margin	23.8%	21.1%	17.6%	16.7%	18.9%	12.9%	9.2%	24.3%
Current ratio	3.75×	2.64×	2.25×	1.92×	1.72×	1.4×	0.85×	1.08×
Debt / equity	0.03×	0.03×	0.02×	0.09×	0.11×	0.41×	0.73×	0.85×
Interest coverage	270.18×	288.5×	105.74×	63.14×	65.25×	21.77×	11.71×	28.95×
Dividend yield	2.8%	2.9%	2.5%	4.2%	0.0%	0.0%	3.1%	5.2%
Payout ratio	15.7%	18.7%	13.4%	20.8%	0.0%	0.0%	32.1%	30.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	22.1%	22.4%	21.3%	23.4%	28.9%	23.3%	20.7%	45.7%
Return on invested capital	18.8%	20.0%	19.5%	20.4%	24.3%	15.9%	11.8%	22.0%
Return on assets	17.3%	16.4%	14.9%	16.1%	18.6%	11.8%	8.2%	17.4%
Free cash flow yield	12.8%	17.0%	16.1%	9.5%	16.4%	15.9%	9.5%	7.8%
Earnings yield	17.7%	15.7%	18.4%	20.2%	15.6%	17.6%	9.6%	17.4%
Enterprise value	PLN 441.1M	PLN 418.2M	PLN 261.7M	PLN 212.9M	PLN 300.9M	PLN 193.1M	PLN 253.9M	PLN 270.8M
Net debt / EBITDA	-0.05×	-0.05×	-0.17×	-0.19×	-0.1×	0.44×	0.8×	0.8×
Cash conversion cycle (days)	231	183	131	59	67	55	43	-10