Who are Asseco Poland's main competitors?

Named competitors: SAP SE (SAP.DE), Comarch (private or unlisted), Sopra Steria (SOP.PA), Formula Systems (FORTY). The cockpit's measured peer set (industry) also includes Shanghai Stonehill Technology (002195.SZ), OBIC Business Consultants (4733.T), Yonyou Network Technology (600588.SS), Beijing HyperStrong Technology (688411.SS), Sezzle (SEZL), Baige Online Digital Technology (2672.HK).

How has Asseco Poland stock performed?

Over six months to 6 Nov 2026 the shares returned +30.7% against +11.7% for the median peer; over one year +8.0%.

← CockpitCompetitor Analysis › ACP.WA Asseco Poland S.A.Open in the cockpit ↗

Asseco Poland S.A.ACP.WACompetitor analysis, valuation and peers

Poland · PLN·Information Technology›Packaged Software

Poland's largest software and IT company, providing banking, public sector and enterprise software domestically and via European/Israeli subsidiaries.

≈ Poland's largest software/IT company, like a Central European SAP-liteMomentum strong 77

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$4.85B

US dollars, full cap

Free float

62%

of shares outstanding

$/day

$10.0M

20-day average traded

Fwd P/E

23.5×

forward earnings

ROIC−WACC

+0.4 pp

WACC 10.1%

Hurdle

-3 pp

Req g minus delivered

Next earnings

20 days

26 Nov 2026

Close · PLNPLN 228.80

1D-0.9%

1W-6.4%

1M+5.2%

3M+1.5%

6M+30.7%

YTD+0.2%

1Y+8.0%

ATR %3.8%

52w lowhigh10.7% off high

What Asseco Poland does

Poland's largest software and IT company, providing banking, public sector and enterprise software domestically and via European/Israeli subsidiaries.

Is a holding group built largely by acquisitions: its Polish operations sell software licences, maintenance and implementation work to banks and public bodies, and subsidiaries abroad, notably Israel's Formula Systems, earn on similar terms. Founder Adam Gora is the largest shareholder.

In one line: Poland's largest software/IT company, like a Central European SAP-lite.

Products and services

Banking & financial software
Public sector IT systems
Enterprise/ERP software
International subsidiaries (Formula Systems)

Customers

Banks and insurers
Government agencies
Enterprises across Europe, Israel and the US

Where it sits in the supply chain

Software
Enterprise & banking software
Public sector IT systems

What could go right

Financial sector digitalization
Cross-border subsidiary growth

What could go wrong

Public sector IT budget cyclicality
Complex multi-subsidiary structure

Moat: narrow (process know-how, customer qualification, installed base). Deep embedded core banking/public-sector software with high switching costs.

Headquarters: Rzeszow, Poland · Founded: 1991 · Employees: 30,206

Named competitors

SAP SE SAP.DE
Comarch private or unlisted
Sopra Steria SOP.PA
Formula Systems FORTY

Asseco Poland at a glance

Size Asseco Poland (ACP.WA) is a Poland Information Technology company (Packaged Software) with a market value of $4.85B, the 20th largest of 83 Poland companies the cockpit tracks. Shares closed at PLN 228.80 on 6 Nov 2026.

Performance Over six months the shares gained 30.7%, against +11.7% for the median peer and +14.3% for the Poland market (cap-weighted) — 6th highest of 19 in its peer set.

Growth Revenue grew 1.5% over the last twelve months (peer median +13.5%); the operating margin is 11.2% (peer median 6.6%).

Valuation It trades at 23.5× forward earnings against a peer median of 22.4× (7th most expensive of 15).

Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -3 pp: the price already allows for a slowdown.

Capital Return on invested capital runs 0.4 points above its cost of capital (10.1% WACC).

Next results Next results expected around 26 Nov 2026 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Asseco Poland against the median of its 20 peers (local-currency closes).

Asseco Poland financials

Reported figures in PLN; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	PLN 18.0B	PLN 16.8B	PLN 15.0B	PLN 16.9B	PLN 17.4B
Revenue growth	—	+12%	-11%	-3%	—
Gross profit	PLN 4.09B	PLN 3.42B	PLN 3.03B	PLN 3.54B	PLN 3.58B
EBITDA	PLN 2.78B	PLN 2.45B	PLN 2.14B	PLN 2.49B	PLN 2.50B
Net income	PLN 1.29B	PLN 1.14B	PLN 520M	PLN 483M	PLN 502M
Free cash flow	PLN 1.93B	PLN 2.55B	PLN 1.96B	PLN 2.18B	PLN 1.55B
Capital expenditure	PLN 256M	PLN 291M	PLN 318M	PLN 342M	PLN 423M
Total debt	PLN 3.64B	PLN 3.31B	PLN 3.91B	PLN 4.10B	PLN 3.96B

Quarterly statements and history in the cockpit →

Asseco Poland competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Asseco Poland is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Asseco Poland is the large dot.

Capital: growth delivered against growth the price implies

Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Asseco Poland is the large dot.

Asseco Poland competitors and peer comparison

Head to head with its named competitors (ACP.WA vs SAP.DE vs SOP.PA vs FORTY)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Asseco Poland ACP.WA	$4.85B	+31%	+2%	11%	23.5×	4.0%
Sap SAP.DE	$276B	+49%	+8%	29%	29.8×	14.9%
Sopra Steria SOP.PA	$4.29B	+50%	+2%	9%	11.2×	-0.6%
Formula Systems (1985) Ltd. Sponsored ADR FORTY	$1.75B	-26%	+1%	8%	n/a	-3.4%

How Asseco Poland compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Asseco Poland against its 20 peers (data as of 6 Nov 2026)
Measure	ACP.WA	Peer median	Rank in peer set
1-month return	+5.2%	+2.2%	10th highest of 21
6-month return	+30.7%	+11.7%	6th highest of 19
Distance from 52-week high	-10.7%	-25.5%	5th highest of 21
Revenue growth (TTM)	+1.5%	+13.5%	4th lowest of 21
Operating margin	11.2%	6.6%	11th highest of 21
Forward P/E	23.5×	22.4×	7th most expensive of 15
Growth the price implies (Req g, 7 yrs)	4.0%	17.1%	3rd least demanding of 11
Growth delivered (Del g)	+6.6%	+11.4%	3rd lowest of 11
Hurdle (Req g minus delivered)	-2.6 pp	-8.6 pp	5th most demanding of 11
ROIC minus cost of capital	+0.4 pp	-1.6 pp	8th highest of 20
EV / EBITDA	8.1×	20.3×	cheapest of 9
Net debt / EBITDA	-0.6×	0.0×	5th least indebted of 11

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Asseco Poland ACP.WA	Poland	$4.85B	+31%	+2%	11%	23.5×	4.0%	+6.6%
Shanghai Stonehill Technology 002195.SZ	China	$4.77B	-34%	+11%	-25%	284.5×	n/a	n/a
OBIC Business Consultants 4733.T	Japan	$4.74B	+62%	+12%	47%	36.1×	3.2%	+11.9%
Yonyou Network Technology 600588.SS	China	$4.72B	-21%	+4%	-16%	n/a	n/a	n/a
Beijing HyperStrong Technology 688411.SS	China	$4.99B	-29%	+38%	12%	16.7×	n/a	n/a
Sezzle SEZL	United States	$5.05B	+146%	+43%	40%	22.4×	28.8%	+50.3%
Baige Online Digital Technology 2672.HK	Hong Kong	$5.07B	n/a	+34%	-3%	n/a	n/a	n/a
iSoftStone Information Technology (Group) 301236.SZ	China	$5.13B	-16%	+13%	0%	105.2×	n/a	n/a
Beijing DeepZero Technology 2723.HK	Hong Kong	$4.58B	n/a	+31%	1%	n/a	n/a	n/a
Planet Labs PBC PL	United States	$4.57B	-68%	+44%	-26%	n/a	n/a	n/a
Lumine LMN.V	Canada	$5.14B	+38%	+15%	21%	18.1×	15.6%	+36.8%
Mphasis MPHASIS.NS	India	$5.15B	+15%	+14%	15%	22.4×	28.7%	+10.6%
HeartFlow HTFL	United States	$4.56B	+15%	+40%	-34%	n/a	n/a	n/a
RXO RXO	United States	$4.55B	+27%	+10%	0%	53.0×	n/a	n/a
BlackBerry BB.TO	Canada	$5.16B	+48%	+14%	16%	40.8×	33.6%	-8.6%
CCC Intelligent Solutions CCC	United States	$4.54B	+50%	+11%	18%	15.1×	11.2%	+10.8%
AutoStore AUTO.OL	Norway	$5.20B	+8%	+17%	33%	27.4×	18.5%	+27.0%
Maase MAAS	United States	$4.51B	+7%	-84%	-16%	n/a	n/a	n/a
BILL BILL	United States	$4.50B	+25%	+13%	1%	13.7×	36.5%	+47.3%
Kingsoft 3888.HK	Hong Kong	$4.46B	+4%	0%	14%	15.1×	-5.8%	+10.8%
37 Interactive Entertainment Network Technology 002555.SZ	China	$5.29B	-24%	-10%	14%	14.2×	5.0%	+2.1%

Questions

Who are Asseco Poland's main competitors?: Named competitors: SAP SE (SAP.DE), Comarch (private or unlisted), Sopra Steria (SOP.PA), Formula Systems (FORTY). The cockpit's measured peer set (industry) also includes Shanghai Stonehill Technology (002195.SZ), OBIC Business Consultants (4733.T), Yonyou Network Technology (600588.SS), Beijing HyperStrong Technology (688411.SS), Sezzle (SEZL), Baige Online Digital Technology (2672.HK).
Is Asseco Poland expensive compared with its peers?: On forward p/e it trades at 23.5× against a peer median of 22.4×, 7th most expensive of 15 in its peer set. For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -3 pp: the price already allows for a slowdown.
How has Asseco Poland stock performed?: Over six months to 6 Nov 2026 the shares returned +30.7% against +11.7% for the median peer; over one year +8.0%.