olivLaw · European equity research
ACTION S.A. ACT.WA
Poland · GPW Warszawa · ISIN PLACTIN00018 · Vertical: Listed companies from Poland
ACTION S.A. is a Polish group selling IT and consumer electronics and appliances through its wholesale hubs, its own stores and third-party stores. In 2023 the group generated operating cash flow of roughly 69,081 thousand PLN, after completing its restructuring and taking control of BRON.PL, which opens a new specialist retail line.
At the close of 04 Nov 2026, ACTION S.A. (ACT.WA) stock was 53.90 PLN (+6.31% on the day), with market capitalisation 1.1 bn PLN, P/E 28.7 on diluted EPS of 1.88 PLN over the last 12 months, dividend yield 0.00%, beta 0.29, 52-week range 28.00–54.00 PLN.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 67.8
- strong (55–70)
- Bollinger (20, 2)
- 43.45 – 55.38
- in the upper half of the band · %B 0.88 · band width 24.2%
- SMA 50 / 200
- 46.31 / 37.63
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 2.09 / 1.79
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +19.9% | −1.5% | +21.4 pp | — |
| 3 months | +20.2% | −5.3% | +25.5 pp | — |
| 6 months | +79.4% | +4.7% | +74.7 pp | — |
| Year to date | +71.1% | +6.0% | +65.1 pp | — |
| 1 year | +75.6% | +8.2% | +67.4 pp | +6.3% |
| 3 years | +191.7% | +47.2% | +144.5 pp | +3.0% |
| 5 years | +254.6% | +41.8% | +212.8 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 3-quarter history (min 2.9, median 6.1, max 10.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue | 2.3 bn | 2.4 bn | 2.5 bn |
| Revenue YoY | unavailable | +2.6% | +6.1% |
| Net income | 100.9 m | 49.0 m | 36.8 m |
| Net income YoY | unavailable | −51.5% | −24.9% |
| Diluted EPS | 5.03 | 2.44 | 1.88 |
| Diluted EPS YoY | unavailable | −51.5% | −23.0% |
| net % | 4.4% | 2.1% | 1.5% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2023 · 31 Dec 2023
- Cash
- 75.5 m PLN
- Financial debt
- unavailable PLN
- Net debt
- unavailable PLN
- Equity
- 448.2 m PLN
- Total assets
- 687.9 m PLN
- Debt / equity
- unavailable
- Current ratio
- 3.12x
- ROE
- 8.3%
- ROA
- 5.5%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (PLN)
Margins
Income statement · PLN
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 2.3 bn | 2.4 bn | 2.5 bn | esef· 02 May 2024verified |
| Cost of revenue | 2.1 bn | 2.2 bn | 2.3 bn | esef· 02 May 2024verified |
| Gross profit | 201.7 m | 207.8 m | 220.9 m | esef· 02 May 2024verified |
| Operating income | 116.1 m | 52.8 m | 44.1 m | esef· 02 May 2024verified |
| Interest expense | 2.7 m | 513.0 k | 2.5 m | esef· 02 May 2024verified |
| Pre-tax income | 113.6 m | 59.0 m | 45.8 m | esef· 02 May 2024verified |
| Income tax | 12.7 m | 10.0 m | 9.2 m | esef· 02 May 2024verified |
| Net income | 100.9 m | 49.0 m | 36.8 m | esef· 02 May 2024verified |
| Diluted EPS | 5.03 | 2.44 | 1.88 | esef· 02 May 2024verified |
| Weighted average diluted shares | 20.0 m | 20.0 m | 19.5 m | esef· 02 May 2024verified |
| Dividend per share | 0.00 | 0.00 | — | esef· 10 May 2023derived |
Balance sheet · PLN
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Cash | 52.6 m | 55.9 m | 75.5 m | esef· 02 May 2024verified |
| Receivables | 181.8 m | 178.3 m | 156.7 m | esef· 02 May 2024verified |
| Inventories | 250.0 m | 263.9 m | 301.6 m | esef· 02 May 2024verified |
| Current assets | 484.8 m | 499.0 m | 546.0 m | esef· 02 May 2024verified |
| Property, plant & equipment, net | 139.1 m | 138.2 m | 132.8 m | esef· 02 May 2024verified |
| Goodwill | 0 | 698.0 k | 2.4 m | esef· 02 May 2024verified |
| Intangibles (excl. goodwill) | 5.8 m | 5.6 m | 6.6 m | esef· 02 May 2024verified |
| Total assets | 635.7 m | 648.0 m | 687.9 m | esef· 02 May 2024verified |
| Current liabilities | 145.3 m | 126.3 m | 175.1 m | esef· 02 May 2024verified |
| Total liabilities | 234.7 m | 205.3 m | 239.7 m | esef· 02 May 2024verified |
| Equity | 401.1 m | 442.7 m | 448.2 m | esef· 02 May 2024verified |
| Shares outstanding at year end | 20.1 m | 20.1 m | 19.6 m | esef· 02 May 2024derived |
Cash flow · PLN
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | -48.6 m | 17.8 m | 69.1 m | esef· 02 May 2024verified |
| Investing cash flow | -3.0 m | -5.8 m | -15.1 m | esef· 02 May 2024verified |
| Financing cash flow | -467.0 k | -8.7 m | -34.4 m | esef· 02 May 2024verified |
| Dividends paid | 0 | 0 | — | esef· 10 May 2023verified |
| Share repurchases | 0 | 8.0 m | 32.9 m | esef· 02 May 2024verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 33.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1.1 bn PLN
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
33% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 1.5% | 41 (vs peers) | 19% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 17.9x | 100 (on a fixed band) | 19% |
| Current ratio · Balance sheet | 3.1x | 100 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | 28.7x | 21 (vs peers) | 31% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 3.1% | 45 (on a fixed band) | 19% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet100/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial41/100 · 1/3 factors with a value
- Returns· partial45/100 · 1/2 factors with a value
- Valuation· partial21/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ACTION S.A. (ACT.WA). Latest full fiscal year: 2023; data up to 2023-12-31.
Figures computed from the financial statements: revenue 2.5 bn PLN in 2023; YoY growth 6.1%; net margin 1.5%; ROE 8.3%.
The estimated value range is 11.14–32.87 PLN per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 19.51 PLN, the price of 53.90 PLN leaves a potential of -63.8% (value / price − 1) and a margin of safety of -176.3% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Interest coverage: 17.9x
- Current ratio: 3.1x
What contradicts it
- P/E (TTM): 28.7x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from Poland · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ACP.WAAsseco Poland S.A. | 19.7 bn | 39.2 | 7.8% | 2.9% | +19.8% | +22% / +211% |
| BDX.WABudimex Spółka Akcyjna | 19.2 bn | 36.0 | 41.5% | 6.2% | +8.9% | +20% / +36% |
| BFT.WABenefit Systems Spółka Akcyjna | 18.1 bn | 130.9 | 20.8% | 7.2% | +99.9% | +74% / +221% |
| CAR.WAInter Cars Spółka Akcyjna | 15.5 bn | 22.1 | 17.0% | 3.9% | +18.0% | +94% / +87% |
| ASE.WAAsseco South Eastern Europe Spółka Akcyjna | 3.8 bn | 20.2 | 18.1% | 12.0% | +36.5% | +9% / +55% |
| 1AT.WAAtal Spółka Akcyjna | 2.3 bn | 6.4 | 29.8% | 22.2% | −1.3% | +7% / +8% |
| ATT.WAGrupa Azoty Spółka Akcyjna | 1.6 bn | — | -37.9% | -20.8% | −45.1% | −16% / −27% |
| ARH.WAArchicom Spółka Akcyjna | 1.3 bn | 11.9 | 15.9% | 22.1% | −21.6% | +11% / +85% |
| ACT.WAAction S.A. | 1.1 bn | 28.7 | 8.3% | 1.5% | +6.1% | +80% / +186% |
| BRS.WABoryszew Spółka Akcyjna | 887.2 m | 8.3 | 6.3% | 1.6% | +8.4% | −24% / −27% |
| AGO.WAAgora Spółka Akcyjna | 585.6 m | — | -14.2% | -9.2% | +15.2% | +36% / +17% |
| AMB.WAAmbra S.A. | 463.4 m | 7.5 | 16.4% | 7.0% | +12.9% | +4% / −33% |
| ATC.WAArctic Paper Spółka Akcyjna | 386.3 m | 1.6 | 16.3% | 7.0% | −27.5% | −33% / −73% |
| ATG.WA"atm Grupa Spółka Akcyjna" | 301.0 m | 11.1 | 8.9% | 11.6% | −22.0% | −10% / +3% |
| ART.WAArtifex Mundi S.A. | 231.4 m | 17.8 | 35.7% | 33.3% | +51.9% | +49% / +14% |
| APN.WAAPLISENS Spółka Akcyjna | 196.8 m | 9.6 | 11.4% | 13.8% | +21.8% | +0% / −20% |
| BMC.WABumech Spółka Akcyjna | 159.1 m | — | -3.4% | -3.9% | −40.0% | −35% / −48% |
| ALI.WAALTUS Spolka Akcyjna | 158.1 m | 17.3 | 7.9% | 16.9% | +30.3% | +38% / +52% |
| BBT.WABoomBit Spółka Akcyjna | 72.4 m | 4.6 | 20.7% | 6.4% | −16.5% | −18% / −56% |
| BBD.WABbi Development S.A. | 51.9 m | 1.0 | 36.0% | 208.3% | +50.2% | −4% / +5% |
| ALG.WAAll in! Games Spółka Akcyjna | 38.1 m | — | — | -156.9% | −72.2% | −30% / −58% |
| BMX.WABioMaxima Spółka Akcyjna | 37.4 m | 63.8 | 1.2% | 1.3% | −67.5% | −29% / −44% |
| 06N.WAMagna Polonia Spółka Akcyjna | 32.3 m | 0.5 | 115.4% | 964.7% | +13.0% | −26% / −40% |
| BCM.WABETACOM Spółka Akcyjna | 26.4 m | 17.4 | 8.0% | 0.9% | +21.3% | +6% / +3% |
| AWM.WAAirway Medix Spółka Akcyjna | 14.3 m | — | -25.8% | -117,400.0% | −97.7% | −23% / −43% |
1- and 3-year price returns: for ACT.WA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (PLN)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 32.36 Total return -40% · Per year -40% | 57.17 Total return 6% · Per year 6% | 86.05 Total return 60% · Per year 60% |
| 3 years | 32.40 Total return -40% · Per year -16% | 64.31 Total return 19% · Per year 6% | 106.14 Total return 97% · Per year 25% |
| 5 years | 32.44 Total return -40% · Per year -10% | 72.34 Total return 34% · Per year 6% | 130.92 Total return 143% · Per year 19% |
- Exit P/E± 16.08
- Net margin± 11.25
- Annual revenue growth± 9.10
- Annual dilution± 0.95
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
ACTION S.A. is a Polish group selling IT and consumer electronics and appliances through its wholesale hubs, its own stores and third-party stores. In 2023 the group generated operating cash flow of roughly 69,081 thousand PLN 1, after completing its restructuring and taking control of BRON.PL, which opens a new specialist retail line.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Dependence on supply chainshigh
The financial notes warn that a prolonged conflict or energy crisis could interrupt supply and raise costs 1.
- Remaining restructuring obligationsmedium
Part of the payments under the arrangement was still outstanding at the end of fiscal 2023, which compresses available liquidity 1.
- Integration of BRON.PLmedium
The majority stake brings a new business segment with its own operational and reputational risks 1.
- Exposure to the domestic marketmedium
Sales are concentrated in Poland, making the group sensitive to local consumer trends and economic conditions 1.
- Reliance on large shareholderslow
Changes in the shareholder structure, including transfers of blocks to family foundations, may influence governance 1.
Investment thesis
What would need to be true (bull case)
- If the high operating cash flow of 2023 can be sustained, the group could finance investment and acquisitions without relying only on borrowing 1.
- Integrating BRON.PL could add revenue from niches with their own demand, if commercial synergies materialise 1.
- Completing the restructuring and regaining management autonomy may reduce the procedural risk that marked earlier years 1.
What would break the thesis
- If the regional conflict prolongs and disrupts supply, margins could be squeezed by higher costs 1.
- Remaining obligations under the restructuring arrangement and spending on share buybacks could limit financial flexibility 1.
- Dependence on the Polish market and a limited number of sales channels could amplify the effects of a slowdown in consumption 1.
What to watch
- Revenue and margin trends in the BRON.PL segment after integration2024
- Completion of the Kraków property sale and use of the proceeds2024
- Payment of the remaining balance under the restructuring arrangement2024
- Trends in supply costs and delivery timesnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The main activity of ACTION S.A. and its subsidiaries is the sale of IT and RTV/AGD equipment through wholesale hubs, its own stores and third-party stores 1. The group sells mainly in the domestic Polish market 1. The parent is based in Zamienie, and its principal activity code is wholesale of computer accessories 1.
The group structure includes KRAKVET MARKETING, held at 70%, which provides advertising services and trades in pet articles, and BRON.PL, an operator of one of the largest Polish online and physical shops for firearms available without a permit, survival and personal protection goods 1. The 75.32% stake in BRON.PL was acquired during 2023 and consolidated from 20 June 2023 1. CLOUDTEAM, in which the group holds 18.27%, is accounted for under the equity method 1.
The company has exited restructuring: the arrangement was approved by the court and became final on 15 December 2020, and at 31 December 2023 a balance of 56,135 thousand PLN remained payable under it 1. On 27 February 2024 the company signed a contract to sell a property in Kraków for 19.8 million PLN plus VAT, which management does not expect to adversely affect operations 1.
Segments
Market context
The group operates mainly in Poland, selling through its own and third-party networks 1. The financial notes state that demand was affected by the geopolitical situation in the region, particularly the conflict in Ukraine 1. Market share is not given in the source, so it cannot be quantified from this document.
The Polish market for IT and consumer electronics depends on consumer demand cycles and international supply chains 1. Management flags that supply chain disruptions and general cost increases could arise if the conflict is prolonged 1.
Trends
- Geopolitical tensions in the regionmixed
The war in Ukraine and hybrid activities attributed to Russia and Belarus have raised alert levels and affected demand 1. The group says it does not work with sanctioned entities, which limits direct exposure 1.
- Supply and logistics costsheadwind
The notes warn that a prolonged war or energy crisis could cause supply chain disruptions and higher operating costs 1.
- Consolidation in specialist retailtailwind
The BRON.PL acquisition extends the group into retail niches with their own demand and margins, which could support revenue growth if integration goes well 1.
- Dividend and share buyback policymixed
In 2023 the group spent a significant amount on buying back its own shares, reducing cash available for other investments 1.
Competitive position
The source does not explicitly name the group's competitors in the Polish market. From the nature of the business it follows that the group competes with other wholesale distributors and electronics retailers, and in the BRON.PL segment with online and physical shops selling outdoor and survival goods 1.
- Polish wholesale distributors of IT and electronics
Direct competitors in distribution, named only generically; the source does not name them.
- Polish consumer electronics retailers
Competitors for sales to final consumers, not named in the source.
- Specialist survival and outdoor goods stores
Competitors for BRON.PL, not identified in the source.
- Online marketplaces for technical goods
Competitors in the online channel, not named in the source.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202302 May 2024
- Annual report 202210 May 2023
Sources
- [1] Annual report, fiscal year ended 2023-12-31 (ESEF) · SEC / ACTION S.A. · 31 Dec 2023
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.