Synektik Spólka Akcyjna (SNT.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

+493.6%

PLN 1,865.03

vs PLN 314.20 price

Levered DCF

PLN 1,548.22

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

8.26

Safe zone

Rating

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	21×	19.81×	9.85×	22.1×	30.2×	21.65×	13.46×	8.68×
P/B	9.64×	8.61×	3.85×	2.7×	3.13×	2.5×	1.75×	1.44×
P/S	3.15×	2.62×	1.16×	1.42×	1.96×	1.52×	0.91×	0.85×
EV / EBITDA	11.73×	12.93×	5.74×	10.27×	13.51×	10.78×	7.14×	6.36×
Gross margin	35.6%	30.4%	29.5%	29.1%	23.5%	24.5%	24.2%	22.5%
Operating margin	23.0%	17.1%	15.2%	4.2%	8.7%	9.6%	9.4%	11.0%
Net margin	15.0%	13.6%	11.7%	6.2%	6.5%	7.0%	6.8%	9.8%
Current ratio	1.65×	1.58×	1.43×	1.05×	1.16×	1.34×	1.17×	0.95×
Debt / equity	0.18×	0.13×	0.14×	0.42×	0.23×	0.27×	0.17×	0.26×
Interest coverage	50.81×	74.13×	35.66×	4.83×	23.12×	20.2×	17.95×	14.66×
Dividend yield	3.3%	1.6%	1.0%	1.6%	1.5%	1.6%	0.0%	0.0%
Payout ratio	68.9%	30.5%	9.8%	37.3%	45.8%	34.9%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	45.9%	44.5%	39.1%	11.7%	10.4%	11.6%	13.0%	16.6%
Return on invested capital	42.5%	34.6%	29.1%	3.8%	8.3%	8.6%	10.5%	13.3%
Return on assets	21.0%	22.6%	17.5%	4.4%	5.3%	6.2%	7.3%	9.5%
Free cash flow yield	2.8%	2.7%	16.4%	-6.9%	7.2%	4.6%	6.5%	3.2%
Earnings yield	4.8%	5.2%	10.1%	4.3%	3.3%	4.6%	7.4%	11.5%
Enterprise value	PLN 2.1B	PLN 1.6B	PLN 472.9M	PLN 264.7M	PLN 252.4M	PLN 199.9M	PLN 126.4M	PLN 100.4M
Net debt / EBITDA	-0.25×	-0.49×	-0.53×	1.06×	-0.01×	0.52×	0.2×	0.69×
Cash conversion cycle (days)	21	1	-16	36	-38	5	0	-26