olivLaw · European equity research
Asm Group Spółka Akcyjna ASM.WA
Poland · GPW Warszawa · ISIN PLASMGR00014 · Vertical: Listed companies from Poland
At the close of 04 Nov 2026, Asm Group Spółka Akcyjna (ASM.WA) stock was 0.14 PLN (+1.43% on the day), with market capitalisation 7.3 m PLN, dividend yield 0.00%, beta 0.19, 52-week range 0.14–0.88 PLN.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 38.9
- weak (30–45)
- Bollinger (20, 2)
- 0.14 – 0.16
- in the lower half of the band · %B 0.26 · band width 16.0%
- SMA 50 / 200
- 0.16 / 0.22
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.01 / -0.01
- 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 | −11.5% | −1.5% | −10.0 pp | — |
| 3 months | −28.6% | −5.3% | −23.4 pp | — |
| 6 months | −43.2% | +4.7% | −47.9 pp | — |
| Year to date | −55.9% | +6.0% | −61.9 pp | — |
| 1 year | −71.0% | +8.2% | −79.2 pp | +7.1% |
| 3 years | −59.2% | +47.2% | −106.4 pp | +3.2% |
| 5 years | unavailable | +41.8% | unavailable | — |
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.
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 |
|---|---|---|---|
| Revenue | 216.0 m | 250.1 m | 254.8 m |
| Revenue YoY | unavailable | +15.8% | +1.9% |
| Net income | -27.1 m | 2.8 m | -3.1 m |
| Net income YoY | unavailable | unavailable | −211.5% |
| Diluted EPS | -0.52 | 0.05 | -0.06 |
| Diluted EPS YoY | unavailable | unavailable | −220.0% |
| net % | -12.6% | 1.1% | -1.2% |
| Free cash flow | 13.0 m | 8.8 m | 2.9 m |
Balance sheet & financial health
Fiscal year 2022 · 31 Dec 2022
- Cash
- 6.0 m PLN
- Financial debt
- 12.7 m PLN
- Net debt
- 6.6 m PLN
- Equity
- 42.4 m PLN
- Total assets
- 158.8 m PLN
- Debt / equity
- 0.30x
- Current ratio
- 0.75x
- ROE
- -7.0%
- ROA
- -1.9%
- FCF margin
- 1.1%
Financial statements (source on every figure)
Revenue and net income (PLN)
Margins
Income statement · PLN
| Line | 2020 | 2021 | 2022 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 216.0 m | 250.1 m | 254.8 m | esef· 31 May 2023verified |
| Operating income | 1.0 m | 9.3 m | 2.4 m | esef· 31 May 2023verified |
| Depreciation & amortisation | 5.5 m | 5.6 m | 1.5 m | esef· 31 May 2023verified |
| EBITDA | 6.5 m ≈ | 15.0 m ≈ | 3.9 m ≈ | esef· 31 May 2023derived |
| Interest expense | 4.5 m | 3.4 m | 5.3 m | esef· 31 May 2023verified |
| Pre-tax income | -3.4 m | 6.0 m | -2.1 m | esef· 31 May 2023verified |
| Income tax | 4.9 m | 2.9 m | 1.4 m | esef· 31 May 2023verified |
| Net income | -27.1 m | 2.8 m | -3.1 m | esef· 31 May 2023verified |
| Diluted EPS | -0.52 | 0.05 | -0.06 | esef· 31 May 2023verified |
| Dividend per share | 0.00 | 0.00 | 0.00 | esef· 31 May 2023derived |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · PLN
| Line | 2020 | 2021 | 2022 | Source (latest year) |
|---|---|---|---|---|
| Cash | 7.5 m | 11.3 m | 6.0 m | esef· 31 May 2023verified |
| Receivables | 68.0 m | 70.7 m | 69.2 m | esef· 31 May 2023verified |
| Current assets | 75.8 m | 82.1 m | 75.2 m | esef· 31 May 2023verified |
| Property, plant & equipment, net | 11.2 m | 8.5 m | 7.1 m | esef· 31 May 2023verified |
| Goodwill | 71.1 m | 71.1 m | 71.4 m | esef· 31 May 2023verified |
| Intangibles (excl. goodwill) | 605.0 k | 405.0 k | 498.0 k | esef· 31 May 2023verified |
| Total assets | 164.1 m | 166.9 m | 158.8 m | esef· 31 May 2023verified |
| Long-term debt | 39.4 m | 12.4 m | 12.7 m | esef· 31 May 2023verified |
| Current liabilities | 76.0 m | 105.4 m | 100.0 m | esef· 31 May 2023verified |
| Total liabilities | 121.9 m | 121.7 m | 116.4 m | esef· 31 May 2023verified |
| Equity | 42.2 m | 45.2 m | 42.4 m | esef· 31 May 2023verified |
| Shares outstanding at year end | 52.1 m | 55.3 m | 51.4 m | esef· 31 May 2023derived |
Cash flow · PLN
| Line | 2020 | 2021 | 2022 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 13.7 m | 9.7 m | 3.1 m | esef· 31 May 2023verified |
| Capex | 761.0 k | 858.0 k | 228.0 k | esef· 31 May 2023verified |
| Free cash flow | 13.0 m ≈ | 8.8 m ≈ | 2.9 m ≈ | esef· 31 May 2023derived |
| Investing cash flow | 11.0 m | 301.0 k | 158.0 k | esef· 31 May 2023verified |
| Financing cash flow | -23.0 m | -5.7 m | -8.1 m | esef· 31 May 2023verified |
| Dividends paid | 0 | 0 | 0 | esef· 31 May 2023verified |
| Share repurchases | 0 | 0 | 0 | esef· 31 May 2023verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
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
Score: 48 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 7.3 m PLN
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
- Balance sheet33
- Returns40
- Quality16
- Valuation100
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
Neutral profile · Score 48/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 4.2% | 14 (vs peers) | 16% |
| Net margin · Quality | -1.2% | 18 (vs peers) | 9% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 1.7x | 65 (on a fixed band) | 16% |
| Interest coverage · Balance sheet | 0.5x | 0 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 0.8x | 0 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 3.6x | 100 (on a fixed band) | 16% |
| FCF yield · Valuation | 39.8% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 0.0% | 0 (on a fixed band) | 9% |
| Payout ratio (FCF) · Returns | 0.0% | 100 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet33/100 · 3/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality16/100 · 2/3 factors with a value
- Returns40/100 · 2/2 factors with a value
- Valuation100/100 · 2/3 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
ASM GROUP SPÓŁKA AKCYJNA (ASM.WA). Latest full fiscal year: 2022; data up to 2022-12-31.
Figures computed from the financial statements: revenue 254.8 m PLN in 2022; YoY growth 1.9%; net margin -1.2%; ROE -6.6%; net debt/EBITDA 1.7x.
The estimated value range is 1.87–3.13 PLN per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 2.34 PLN, the price of 0.14 PLN leaves a potential of 1,546.2% (value / price − 1) and a margin of safety of 93.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 48/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- EV/EBITDA: 3.6x
- FCF yield: 39.8%
- Payout ratio (FCF): 0.0%
- The price is below the estimated value range
What contradicts it
- ROIC: 4.2%
- Net margin: -1.2%
- Interest coverage: 0.5x
- Current ratio: 0.8x
- Shareholder yield (distributions): 0.0%
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, P/E (TTM).
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 ASM.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 | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202231 May 2023
- Annual report 202131 May 2023
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.