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Polish clothing retailer operating multiple apparel brands (Reserved, Cropp, House, Mohito, Sinsay) across physical stores and e-commerce in Europe.
Polish clothing retailer operating multiple apparel brands (Reserved, Cropp, House, Mohito, Sinsay) across physical stores and e-commerce in Europe.
In one line: A Polish Inditex-lite, multi-brand fast fashion retailer.
Moat: narrow (brand, scale, distribution). Multi-brand portfolio gives shelf coverage across price points in CEE markets Inditex/H&M serve less densely.
Headquarters: Gdansk, Poland · Founded: 1991 · Employees: 37,445
Size Lpp (LPP.WA) is a Poland Consumer Discretionary company (Apparel/Footwear Retail) with a market value of $13.0B, the 10th largest of 83 Poland companies the cockpit tracks. Shares closed at PLN 27,480 on 6 Nov 2026.
Performance Over six months the shares gained 35.8%, against +10.6% for the median peer and +14.3% for the Poland market (cap-weighted) — 5th highest of 17 in its peer set.
Growth Revenue grew 15.2% over the last twelve months (peer median +10.6%); the operating margin is 12.9% (peer median 9.6%).
Valuation It trades at 17.4× forward earnings against a peer median of 15.8× (8th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +24%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.2 points above its cost of capital (13.7% WACC).
Next results Next results expected around 3 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | PLN 24.6B | PLN 23.1B | PLN 20.2B | PLN 17.4B | PLN 15.9B |
| Revenue growth | — | +14% | +16% | +9% | — |
| Gross profit | PLN 11.9B | PLN 10.8B | PLN 9.03B | PLN 7.59B | PLN 6.88B |
| EBITDA | PLN 5.49B | PLN 4.68B | PLN 4.15B | PLN 3.66B | PLN 2.34B |
| Net income | PLN 1.94B | PLN 1.50B | PLN 1.75B | PLN 1.61B | PLN 833M |
| Free cash flow | PLN 2.92B | PLN 1.13B | PLN 1.98B | PLN 3.03B | -PLN 711M |
| Capital expenditure | PLN 2.99B | PLN 3.17B | PLN 1.82B | PLN 1.09B | PLN 1.16B |
| Total debt | PLN 7.76B | PLN 10.3B | PLN 9.11B | PLN 6.86B | PLN 6.81B |
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.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Lpp LPP.WA | $13.0B | +36% | +15% | 13% | 17.4× | 17.5% |
| Industria de Diseno Textil ITX.MC | $206B | +20% | +6% | 20% | 27.3× | 15.3% |
| H&M Hennes & Mauritz HM-B.ST | $29.1B | +12% | -4% | 9% | 22.3× | 4.5% |
| Zalando ZAL.DE | $7.64B | +42% | +18% | 4% | 19.6× | 7.6% |
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.
| Measure | LPP.WA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.6% | +7.1% | 6th highest of 17 |
| 6-month return | +35.8% | +10.6% | 5th highest of 17 |
| Distance from 52-week high | -2.1% | -11.3% | 2nd highest of 17 |
| Revenue growth (TTM) | +15.2% | +10.6% | 6th highest of 17 |
| Operating margin | 12.9% | 9.6% | 6th highest of 17 |
| Forward P/E | 17.4× | 15.8× | 8th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 17.5% | 9.0% | 7th most demanding of 16 |
| Growth delivered (Del g) | +24.1% | +12.3% | 3rd highest of 16 |
| Hurdle (Req g minus delivered) | -6.6 pp | -4.5 pp | 6th least demanding of 16 |
| ROIC minus cost of capital | +8.2 pp | +2.8 pp | 6th highest of 17 |
| EV / EBITDA | 10.5× | 11.1× | 8th cheapest of 16 |
| Net debt / EBITDA | 1.2× | 1.3× | 8th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lpp LPP.WA | Poland | $13.0B | +36% | +15% | 13% | 17.4× | 17.5% | +24.1% |
| Aritzia ATZ.TO | Canada | $12.5B | +9% | +40% | 16% | 27.1× | 22.0% | +34.0% |
| Meesho MEESHO.NS | India | $11.4B | +17% | +34% | -9% | n/a | n/a | n/a |
| Burlington Stores BURL | United States | $15.5B | -19% | +11% | 8% | 20.5× | 18.2% | +14.9% |
| Allegro.eu ALE.WA | Poland | $15.5B | +97% | +8% | 20% | 30.8× | 22.1% | +23.4% |
| Trent TRENT.NS | India | $17.4B | +8% | +18% | 12% | 75.1× | 60.1% | +50.6% |
| Victoria's Secret & VSXY | United States | $8.62B | +125% | +10% | 8% | 21.4× | 20.0% | +3.9% |
| Gap GAP | United States | $7.55B | -8% | +1% | 11% | 8.4× | -2.3% | +2.2% |
| Urban Outfitters URBN | United States | $7.26B | +18% | +11% | 10% | 13.1× | 6.9% | +12.3% |
| Tapestry TPR | United States | $26.4B | 0% | +14% | 24% | 15.8× | 9.0% | +6.9% |
| Abercrombie & Fitch ANF | United States | $6.35B | +57% | +5% | 14% | 12.1× | -2.7% | +11.0% |
| JD Sports Fashion JD..L | United Kingdom | $6.03B | +37% | +2% | 7% | 9.0× | 1.4% | +15.5% |
| H&M Hennes & Mauritz HM-B.ST | Sweden | $29.1B | +12% | -4% | 9% | 22.3× | 4.5% | +4.1% |
| SHIMAMURA 8227.T | Japan | $4.69B | +2% | +5% | 9% | 14.3× | -9.9% | +5.2% |
| Vishal Mega Mart VMM.NS | India | $4.67B | -25% | +18% | 9% | 43.8× | 32.3% | +19.4% |
| Boot Barn BOOT | United States | $3.92B | -20% | +17% | 14% | 14.6× | 14.3% | +20.3% |
| American Eagle Outfitters AEO | United States | $3.34B | +19% | +8% | 9% | 11.1× | 0.9% | +8.1% |