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Size PlayWay Spolka Akcyjna (PLW.WA) is a Poland Information Technology company (Packaged Software) with a market value of $425M, the 64th largest of 83 Poland companies the cockpit tracks. Shares closed at PLN 250.00 on 6 Nov 2026.
Performance Over six months the shares gained 5.3%, against -11.2% for the median peer and +14.3% for the Poland market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue grew 7.6% over the last twelve months (peer median +9.5%); the operating margin is 44.9% (peer median 5.2%).
Valuation It trades at 11.0× forward earnings against a peer median of 26.5× (3rd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 65.6 points above its cost of capital (10.2% WACC).
Next results Next results expected around 27 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | PLN 317M | PLN 298M | PLN 302M | PLN 274M | PLN 257M |
| Revenue growth | — | -1% | +10% | +6% | — |
| Gross profit | PLN 156M | PLN 167M | PLN 211M | PLN 178M | PLN 186M |
| EBITDA | PLN 192M | PLN 193M | PLN 220M | PLN 159M | PLN 176M |
| Net income | PLN 78.3M | PLN 69.9M | PLN 174M | PLN 107M | PLN 112M |
| Free cash flow | PLN 150M | PLN 132M | PLN 160M | PLN 128M | PLN 125M |
| Capital expenditure | PLN 80.5M | PLN 57.7M | PLN 58.0M | PLN 1.11M | PLN 1.16M |
| Total debt | PLN 6.57M | PLN 2.66M | PLN 1.74M | PLN 2.84M | PLN 2.94M |
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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 | PLW.WA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.6% | -3.8% | 7th highest of 21 |
| 6-month return | +5.3% | -11.2% | 5th highest of 20 |
| Distance from 52-week high | -12.0% | -34.0% | 3rd highest of 21 |
| Revenue growth (TTM) | +7.6% | +9.5% | 9th lowest of 20 |
| Operating margin | 44.9% | 5.2% | 2nd highest of 20 |
| Forward P/E | 11.0× | 26.5× | 3rd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -3.4% | 15.4% | 3rd least demanding of 12 |
| Growth delivered (Del g) | +12.7% | +10.2% | 4th highest of 12 |
| Hurdle (Req g minus delivered) | -16.1 pp | +15.8 pp | 3rd least demanding of 12 |
| ROIC minus cost of capital | +65.6 pp | -5.6 pp | 2nd highest of 19 |
| EV / EBITDA | 7.5× | 10.8× | 4th cheapest of 11 |
| Net debt / EBITDA | -1.6× | -2.6× | 2nd most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PlayWay Spolka Akcyjna PLW.WA | Poland | $425M | +5% | +8% | 45% | 11.0× | -3.4% | +12.7% |
| Capillary Technologies India CAPILLARY.NS | India | $427M | -8% | +23% | 3% | 46.9× | 49.7% | +33.9% |
| Fino 033790.KS | South Korea | $428M | -53% | +195% | 5% | n/a | 6.6% | +60.2% |
| IGG 0799.HK | Hong Kong | $431M | -11% | -1% | 12% | 6.0× | n/a | n/a |
| Materialise NV Sponsored ADR MTLS | United States | $432M | +25% | +10% | 2% | 42.6× | 26.0% | +9.2% |
| UltraGreen.ai UGS.SI | Singapore | $433M | n/a | +25% | 57% | 6.2× | n/a | n/a |
| Objective OCL.AX | Australia | $434M | -39% | +7% | 32% | 23.4× | 8.1% | +6.8% |
| Coffee Stain COFFEE-B.ST | Sweden | $435M | -11% | -12% | 10% | 15.8× | 5.6% | -11.8% |
| Gstarsoft 688657.SS | China | $415M | -19% | +17% | 8% | 37.4× | 28.1% | +12.1% |
| D2L DTOL.TO | Canada | $436M | +19% | +3% | 5% | 20.8× | 15.4% | +12.4% |
| 63 Moons Technologies 63MOONS.NS | India | $437M | +21% | +238% | -104% | n/a | n/a | n/a |
| Chase Science 300941.SZ | China | $437M | -20% | +29% | 1% | n/a | n/a | n/a |
| Hangzhou Century 300078.SZ | China | $438M | -33% | -46% | -2% | n/a | n/a | n/a |
| Bushiroad 7803.T | Japan | $441M | +102% | +3% | 8% | 15.3× | -3.9% | +10.2% |
| M31 Technology 6643.TWO | Taiwan | $443M | -46% | +19% | -8% | 32.0× | n/a | n/a |
| Agora, Inc. Sponsored ADR API | United States | $408M | -2% | +14% | -5% | 29.5× | n/a | n/a |
| NanJing Institute of Surveying Mapping and Geotechnical Investigation 300826.SZ | China | $444M | -1% | +8% | 1% | n/a | 45.8% | +8.8% |
| Zhengzhou Jiean Hi-tech 300845.SZ | China | $444M | +5% | +6% | 7% | n/a | n/a | n/a |
| CHANGE Holdings,Inc 3962.T | Japan | $407M | -3% | +12% | 20% | n/a | -13.0% | +38.0% |
| Braiin BRAI | United States | $447M | -70% | n/a | n/a | n/a | n/a | n/a |
| Dareway Intelligent Technology 688579.SS | China | $450M | -26% | -21% | -2% | 44.1× | 18.9% | +0.9% |