olivLaw · European equity research
Dino Polska S.A. DNP.WA
Poland · GPW Warszawa · ISIN PLDINPL00011 · Vertical: Listed companies from Poland
At the close of 06 Nov 2026, Dino Polska S.A. (DNP.WA) stock was 37.40 PLN (−6.15% on the day), with market capitalisation 3.7 bn PLN, P/E 3.2 on diluted EPS of 11.55 PLN over the last 12 months, beta 0.43, 52-week range 27.58–42.98 PLN.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 49.2
- neutral
- Bollinger (20, 2)
- 36.29 – 40.16
- in the lower half of the band · %B 0.29 · band width 10.1%
- SMA 50 / 200
- 36.51 / 34.46
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.67 / 0.81
- MACD below 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 | +12.0% | −0.6% | +12.7 pp | — |
| 3 months | +15.3% | −4.2% | +19.5 pp | — |
| 6 months | +23.1% | +4.3% | +18.7 pp | — |
| Year to date | −9.6% | +7.5% | −17.1 pp | — |
| 1 year | −16.5% | +9.9% | −26.4 pp | +5.9% |
| 3 years | −13.7% | +49.8% | −63.6 pp | +1.8% |
| 5 years | +5.7% | +42.8% | −37.1 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 0 percentile of its own 3-quarter history (min 3.2, median 4.4, max 4.5; quarters with earnings only).
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 |
|---|---|---|---|
| Revenue | 10.1 bn | 13.4 bn | 19.8 bn |
| Revenue YoY | unavailable | +32.0% | +48.2% |
| Net income | 643.9 m | 805.3 m | 1.1 bn |
| Net income YoY | unavailable | +25.1% | +40.6% |
| Diluted EPS | 6.57 | 8.21 | 11.55 |
| Diluted EPS YoY | unavailable | +25.0% | +40.7% |
| net % | 6.4% | 6.0% | 5.7% |
| Free cash flow | -182.1 m | -9.3 m | -192.5 m |
Balance sheet & financial health
Fiscal year 2022 · 31 Dec 2022
- Cash
- 382.7 m PLN
- Financial debt
- unavailable PLN
- Net debt
- unavailable PLN
- Equity
- 4.2 bn PLN
- Total assets
- 9.0 bn PLN
- Debt / equity
- unavailable
- Current ratio
- 0.73x
- ROE
- 31.1%
- ROA
- 14.0%
- FCF margin
- -1.0%
Financial statements (source on every figure)
Revenue and net income (PLN)
Margins
Income statement · PLN
| Line | 2020 | 2021 | 2022 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 10.1 bn | 13.4 bn | 19.8 bn | esef· 02 May 2023verified |
| Cost of revenue | 7.5 bn | 10.0 bn | 15.0 bn | esef· 02 May 2023verified |
| Gross profit | 2.6 bn | 3.3 bn | 4.8 bn | esef· 02 May 2023verified |
| Operating income | 837.9 m | 1.0 bn | 1.5 bn | esef· 02 May 2023verified |
| Interest expense | 52.1 m | 46.7 m | 141.3 m | esef· 02 May 2023verified |
| Pre-tax income | 789.0 m | 978.4 m | 1.4 bn | esef· 02 May 2023verified |
| Income tax | 145.1 m | 173.1 m | 269.5 m | esef· 02 May 2023verified |
| Net income | 643.9 m | 805.3 m | 1.1 bn | esef· 02 May 2023verified |
| Diluted EPS | 6.57 | 8.21 | 11.55 | esef· 02 May 2023verified |
Balance sheet · PLN
| Line | 2020 | 2021 | 2022 | Source (latest year) |
|---|---|---|---|---|
| Cash | 480.4 m | 418.6 m | 382.7 m | esef· 02 May 2023verified |
| Receivables | 86.8 m | 144.0 m | 274.9 m | esef· 02 May 2023verified |
| Inventories | 875.1 m | 1.4 bn | 2.0 bn | esef· 02 May 2023verified |
| Current assets | 1.5 bn | 2.0 bn | 2.7 bn | esef· 02 May 2023verified |
| Property, plant & equipment, net | 3.7 bn | 4.9 bn | 6.1 bn | esef· 02 May 2023verified |
| Total assets | 5.6 bn | 7.2 bn | 9.0 bn | esef· 02 May 2023verified |
| Current liabilities | 2.1 bn | 3.0 bn | 3.7 bn | esef· 02 May 2023verified |
| Total liabilities | 3.3 bn | 4.1 bn | 4.8 bn | esef· 02 May 2023verified |
| Equity | 2.3 bn | 3.1 bn | 4.2 bn | esef· 02 May 2023verified |
| Shares outstanding at year end | 98.0 m | 98.1 m | 98.0 m | esef· 02 May 2023derived |
Cash flow · PLN
| Line | 2020 | 2021 | 2022 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 819.9 m | 1.3 bn | 1.3 bn | esef· 02 May 2023verified |
| Capex | 1.0 bn | 1.3 bn | 1.4 bn | esef· 02 May 2023verified |
| Free cash flow | -182.1 m ≈ | -9.3 m ≈ | -192.5 m ≈ | esef· 02 May 2023derived |
| Investing cash flow | -1.0 bn | -1.3 bn | -1.4 bn | esef· 02 May 2023verified |
| Financing cash flow | 265.9 m | -57.4 m | 145.2 m | esef· 02 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 weight coverage: 41.7% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
06 Nov 2026Source: olivLaw, closing series
Market cap: 3.7 bn PLN
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
42% · 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: score weight coverage: 41.7% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 5.7% | 56 (vs peers) | 15% |
| FCF conversion · Quality | -17.0% | 0 (on a fixed band) | 15% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 10.9x | 100 (on a fixed band) | 15% |
| Current ratio · Balance sheet | 0.7x | 0 (on a fixed band) | 10% |
| P/E (TTM) · Valuation | 3.2x | 84 (vs peers) | 25% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -5.3% | 0 (on a fixed band) | 20% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet60/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality28/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation47/100 · 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
Dino Polska S.A. (DNP.WA). Latest full fiscal year: 2022; data up to 2022-12-31.
Figures computed from the financial statements: revenue 19.8 bn PLN in 2022; YoY growth 48.2%; net margin 5.7%; ROE 31.1%.
The estimated value range is 68.24–200.97 PLN per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 118.06 PLN, the price of 37.40 PLN leaves a potential of 215.7% (value / price − 1) and a margin of safety of 68.3% (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 (score weight coverage: 41.7% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Interest coverage: 10.9x
- P/E (TTM): 3.2x
- The price is below the estimated value range
What contradicts it
- FCF conversion: -17.0%
- Current ratio: 0.7x
- FCF yield: -5.3%
Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, Shareholder yield (distributions), 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. | 19.0 bn | 37.8 | 7.8% | 2.9% | +19.8% | +18% / +199% |
| BDX.WABudimex Spółka Akcyjna | 18.9 bn | 35.3 | 41.5% | 6.2% | +8.9% | +18% / +33% |
| BFT.WABenefit Systems Spółka Akcyjna | 18.1 bn | 130.7 | 20.8% | 7.2% | +99.9% | +74% / +221% |
| ASE.WAAsseco South Eastern Europe Spółka Akcyjna | 3.7 bn | 19.6 | 18.1% | 12.0% | +36.5% | +6% / +50% |
| DNP.WADino Polska S.A. | 3.7 bn | 3.2 | 31.1% | 5.7% | +48.2% | −8% / −16% |
| 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% | −15% / −26% |
| ARH.WAArchicom Spółka Akcyjna | 1.3 bn | 12.1 | 15.9% | 22.1% | −21.6% | +13% / +88% |
| ACT.WAAction S.A. | 999.4 m | 27.2 | 8.3% | 1.5% | +6.1% | +71% / +171% |
| BRS.WABoryszew Spółka Akcyjna | 874.1 m | 8.2 | 6.3% | 1.6% | +8.4% | −25% / −28% |
| AGO.WAAgora Spółka Akcyjna | 588.0 m | — | -14.2% | -9.2% | +15.2% | +37% / +18% |
| AMB.WAAmbra S.A. | 462.9 m | 7.5 | 16.4% | 7.0% | +12.9% | +4% / −33% |
| ATC.WAArctic Paper Spółka Akcyjna | 344.7 m | 1.4 | 16.3% | 7.0% | −27.5% | −40% / −75% |
| ATG.WA"atm Grupa Spółka Akcyjna" | 298.5 m | 11.0 | 8.9% | 11.6% | −22.0% | −11% / +2% |
| ART.WAArtifex Mundi S.A. | 229.7 m | 17.7 | 35.7% | 33.3% | +51.9% | +48% / +14% |
| APN.WAAPLISENS Spółka Akcyjna | 192.4 m | 9.4 | 11.4% | 13.8% | +21.8% | −2% / −22% |
| ALI.WAALTUS Spolka Akcyjna | 158.1 m | 17.3 | 7.9% | 16.9% | +30.3% | +38% / +52% |
| BMC.WABumech Spółka Akcyjna | 156.9 m | — | -3.4% | -3.9% | −40.0% | −36% / −49% |
| BBT.WABoomBit Spółka Akcyjna | 71.9 m | 4.5 | 20.7% | 6.4% | −16.5% | −18% / −56% |
| BBD.WABbi Development S.A. | 54.1 m | 1.1 | 36.0% | 208.3% | +50.2% | +1% / +9% |
| ALG.WAAll in! Games Spółka Akcyjna | 39.6 m | — | — | -156.9% | −72.2% | −27% / −56% |
| BMX.WABioMaxima Spółka Akcyjna | 36.3 m | 62.0 | 1.2% | 1.3% | −67.5% | −31% / −46% |
| 06N.WAMagna Polonia Spółka Akcyjna | 31.1 m | 0.5 | 115.4% | 964.7% | +13.0% | −29% / −43% |
| BCM.WABETACOM Spółka Akcyjna | 26.3 m | 17.3 | 8.0% | 0.9% | +21.3% | +6% / +2% |
| AWM.WAAirway Medix Spółka Akcyjna | 13.8 m | — | -25.8% | -117,400.0% | −97.7% | −26% / −45% |
1- and 3-year price returns: for DNP.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 | 24.44 Total return -35% · Per year -35% | 43.01 Total return 15% · Per year 15% | 64.52 Total return 73% · Per year 73% |
| 3 years | 28.99 Total return -22% · Per year -8% | 56.88 Total return 52% · Per year 15% | 92.90 Total return 148% · Per year 35% |
| 5 years | 34.39 Total return -8% · Per year -2% | 75.22 Total return 101% · Per year 15% | 133.78 Total return 258% · Per year 29% |
- Exit P/E± 14.22
- Net margin± 9.95
- Annual revenue growth± 7.42
- Annual dilution± 0.84
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 202202 May 2023
- Annual report 202115 Mar 2022
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.