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olivLaw · European equity research

K2 Holding S.A. FAB.WA

Poland · GPW Warszawa · ISIN PLK2ITR00010 · Vertical: Listed companies from Poland

26.70PLN0.00% · 1 dayClose 06 Nov 2026

At the close of 06 Nov 2026, K2 Holding S.A. (FAB.WA) stock was 26.70 PLN (+0.00% on the day), with market capitalisation 63.7 m PLN, P/E 2.5 on diluted EPS of 10.73 PLN over the last 12 months, dividend yield 31.46%, beta 0.26, 52-week range 23.30–29.30 PLN.

Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.

Market cap
63.7 m PLN
shares as of 31 Dec 2022
P/E (TTM)
2.5
Diluted EPS TTM 10.73 · TTM to 31 Dec 2022
E/P (TTM)
40.19%
TTM to 31 Dec 2022
Dividend yield
31.46%
DPS 12m 8.40
Beta (2y)
0.26
Volatility (1y) 27%
52-week range
23.3029.30

Price history

Loading chart…

Technical reading

RSI (14)
50.9
neutral
Bollinger (20, 2)
26.05 – 27.70
in the lower half of the band · %B 0.39 · band width 6.2%
SMA 50 / 200
26.31 / 26.16
uptrend (price > SMA50 > SMA200)
MACD (12, 26, 9)
0.13 / 0.19
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

CompanyEURO STOXX 50vs EURO STOXX 50Vertical median
1 month+3.9%−0.6%+4.5 pp—
3 months+2.3%−4.2%+6.5 pp—
6 months+7.2%+4.3%+2.9 pp—
Year to date+13.6%+7.5%+6.1 pp—
1 year−5.0%+9.9%−14.9 pp+5.9%
3 years−23.7%+49.8%−73.6 pp+1.8%
5 years+9.0%+42.8%−33.8 pp—
Max drawdown (1y)
−16.8%
14 Nov 2025 → 17 Dec 2025
Max drawdown (5y)
−41.6%
28 Jun 2023 → 17 Dec 2025
Compound annual growth (5y)
+1.7%
EURO STOXX 50 +7.4%

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 2-quarter history (min 2.5, median 7.6, max 12.6; quarters with earnings only).

Fiscal years

Fiscal year20212022
Revenue40.7 m53.4 m
Revenue YoYunavailable+31.1%
Net income3.7 m24.2 m
Net income YoYunavailable+547.0%
Diluted EPS1.9410.73
Diluted EPS YoYunavailable+453.1%
net %9.2%45.4%
Free cash flowunavailableunavailable

Balance sheet & financial health

Fiscal year 2022 · 31 Dec 2022

Cash
13.2 m PLN
Financial debt
unavailable PLN
Net debt
unavailable PLN
Equity
37.7 m PLN
Total assets
60.9 m PLN
Debt / equity
unavailable
Current ratio
2.66x
ROE
69.7%
ROA
40.2%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (PLN)

Margins

Income statement · PLN

Revenue
2021
40.7 m
2022
53.4 m

esef· 18 May 2023verified

Cost of revenue
2021
33.3 m
2022
43.8 m

esef· 18 May 2023verified

Gross profit
2021
7.5 m
2022
9.6 m

esef· 18 May 2023verified

Operating income
2021
5.0 m
2022
5.0 m

esef· 18 May 2023verified

Pre-tax income
2021
4.6 m
2022
27.1 m

esef· 18 May 2023verified

Income tax
2021
1.0 m
2022
3.0 m

esef· 18 May 2023verified

Net income
2021
3.7 m
2022
24.2 m

esef· 18 May 2023verified

Diluted EPS
2021
1.94
2022
10.73

esef· 18 May 2023verified

Dividend per share
2021
1.05
2022
8.40

esef· 18 May 2023verified

Balance sheet · PLN

Cash
2021
10.1 m
2022
13.2 m

esef· 18 May 2023verified

Current assets
2021
51.0 m
2022
51.6 m

esef· 18 May 2023verified

Property, plant & equipment, net
2021
480.0 k
2022
186.0 k

esef· 18 May 2023verified

Goodwill
2021
1.2 m
2022
0

esef· 18 May 2023verified

Intangibles (excl. goodwill)
2021
1.3 m
2022
1.2 m

esef· 18 May 2023verified

Total assets
2021
59.6 m
2022
60.9 m

esef· 18 May 2023verified

Current liabilities
2021
25.0 m
2022
19.4 m

esef· 18 May 2023verified

Total liabilities
2021
27.8 m
2022
23.2 m

esef· 18 May 2023verified

Equity
2021
31.9 m
2022
37.7 m

esef· 18 May 2023verified

Shares outstanding at year end
2021
1.9 m
2022
2.4 m

esef· 18 May 2023derived

Cash flow · PLN

Operating cash flow
2021
9.5 m
2022
5.4 m

esef· 18 May 2023verified

Investing cash flow
2021
-2.9 m
2022
28.5 m

esef· 18 May 2023verified

Financing cash flow
2021
-6.0 m
2022
-24.8 m

esef· 18 May 2023verified

Dividends paid
2021
2.4 m
2022
19.5 m

esef· 18 May 2023verified

Share repurchases
2021
0
2022
231.0 k

esef· 18 May 2023verified

Computed indicators

Growth

Revenue growth (YoY)
31.1%
computed by olivLawFY 2022
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
0.1%
computed by olivLawFY 2022
Net income growth (YoY)
547.0%
computed by olivLawFY 2022
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
453.1%
computed by olivLawFY 2022
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
unavailable
input data missing

Profitability

Gross margin
18.1%
computed by olivLawFY 2022
EBITDA margin
unavailable
input data missing
EBIT margin
9.3%
computed by olivLawFY 2022
Net margin
45.4%
computed by olivLawFY 2022
FCF margin
unavailable
input data missing

Returns

ROE
77.7%
computed by olivLawFY 2022 · balance sheet at 31 Dec 2022
ROA
40.2%
computed by olivLawFY 2022 · balance sheet at 31 Dec 2022
ROIC
unavailable
input data missing
ROCE
12.0%
computed by olivLawFY 2022 · balance sheet at 31 Dec 2022
Payout ratio (EPS)
78.3%
computed by olivLawFY 2022
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
2.7x
computed by olivLawbalance sheet at 31 Dec 2022
Quick ratio
unavailable
input data missing
Cash ratio
0.7x
computed by olivLawbalance sheet at 31 Dec 2022

Cash

Operating cash flow
5.4 m PLN
computed by olivLawFY 2022
Capital expenditure
unavailable
input data missing
Free cash flow
unavailable
input data missing
FCF conversion
unavailable
input data missing
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
63.7 m PLN
computed by olivLawbalance sheet at 31 Dec 2022
Enterprise value
unavailable
input data missing
Market cap / net income TTM
2.6x
computed by olivLawFY 2022
P/E (TTM)
2.5x
computed by olivLawFY 2022
Earnings yield
40.2%
computed by olivLawFY 2022
P/B
1.9x
computed by olivLawbalance sheet at 31 Dec 2022
P/S
1.2x
computed by olivLawFY 2022 · balance sheet at 31 Dec 2022
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
input data missing
FCF yield
unavailable
input data missing
Dividend yield
31.5%
computed by olivLawFY 2022
Shareholder yield (distributions)
30.9%
computed by olivLawFY 2022 · balance sheet at 31 Dec 2022

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 4 of at least 6
  • score weight coverage: 27.1% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

26.70 PLN

06 Nov 2026Source: olivLaw, closing series

Market cap: 63.7 m PLN

Key indicators

Market capitalisation
63.7 m PLN
computed by olivLawbalance sheet at 31 Dec 2022
P/E (TTM)
2.5x
computed by olivLawFY 2022
P/B
1.9x
computed by olivLawbalance sheet at 31 Dec 2022
EV/EBITDA
unavailable
input data missing
ROE
77.7%
computed by olivLawFY 2022 · balance sheet at 31 Dec 2022
Net margin
45.4%
computed by olivLawFY 2022
Revenue growth (YoY)
31.1%
computed by olivLawFY 2022
Dividend yield
31.5%
computed by olivLawFY 2022

Coverage and freshness

24/37 reporting lines present
Latest full fiscal year: 2022
Latest reported period: 31 Dec 2022
Latest balance sheet date: 31 Dec 2022
Share count (cover of the latest filing), as of: 31 Dec 2022
Source: esefpublished 18 May 2023
verified 53derived 2

The data is older than the freshness threshold.

Score by group

27% · 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: 4 of at least 6; score weight coverage: 27.1% of at least 60%

    FactorValueScoreWeight used
    ROIC · Qualityunavailableunavailable—
    Net margin · Quality45.4%95 (vs peers)23%
    FCF conversion · Qualityunavailableunavailable—
    Revenue CAGR 3Y · Growthunavailableunavailable—
    EPS CAGR 3Y · Growthunavailableunavailable—
    Net debt / EBITDA · Balance sheetunavailableunavailable—
    Interest coverage · Balance sheetunavailableunavailable—
    Current ratio · Balance sheet2.7x100 (on a fixed band)15%
    P/E (TTM) · Valuation2.5x84 (vs peers)38%
    EV/EBITDA · Valuationunavailableunavailable—
    FCF yield · Valuationunavailableunavailable—
    Shareholder yield (distributions) · Returns30.9%100 (on a fixed band)23%
    Payout ratio (FCF) · Returnsunavailableunavailable—

    Factors without a value were dropped; the remaining weights were renormalised.

    Score groups

    • Balance sheet· partial100/100 · 1/3 factors with a value
    • Growth· partialunavailable · 0/2 factors with a value
    • Quality· partial95/100 · 1/3 factors with a value
    • Returns· partial100/100 · 1/2 factors with a value
    • Valuation· partial84/100 · 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

    K2 Holding S.A. (FAB.WA). Latest full fiscal year: 2022; data up to 2022-12-31.

    Figures computed from the financial statements: revenue 53.4 m PLN in 2022; YoY growth 31.1%; net margin 45.4%; ROE 77.7%.

    The estimated value range is 72.90–144.25 PLN per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 100.38 PLN, the price of 26.70 PLN leaves a potential of 275.9% (value / price − 1) and a margin of safety of 73.4% (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: 4 of at least 6; score weight coverage: 27.1% of at least 60%).

    Text generated deterministically from the figures shown; no language model. Not investment advice.

    What supports the thesis

    • Net margin: 45.4%
    • Current ratio: 2.7x
    • P/E (TTM): 2.5x
    • Shareholder yield (distributions): 30.9%
    • The price is below the estimated value range

    What contradicts it

    No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.

    Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, 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

    P/E
    2.5x
    vertical median 12.1x
    below median (−79.4%)
    EV/EBITDA
    —
    vertical median —
    P/S
    1.2x
    vertical median 1.3x
    below median (−6.5%)
    P/B
    1.9x
    vertical median 1.0x
    above median (+92.9%)
    ROE
    77.7%
    vertical median 8.9%
    above median (+769.8%)
    Net margin
    45.4%
    vertical median 2.8%
    above median (+1,509.1%)
    EBIT margin
    9.3%
    vertical median 6.3%
    above median (+46.8%)
    Revenue YoY
    31.1%
    vertical median 9.9%
    above median (+215.6%)
    Net debt/EBITDA
    —
    vertical median —
    Dividend yield
    31.5%
    vertical median 3.6%
    above median (+763.5%)

    Price rebased to 100 (monthly, 5 years)

    Companies in the vertical

    Market capP/EROENet marginRevenue YoY1A / 3A
    ACP.WAAsseco Poland S.A.19.0 bn37.87.8%2.9%+19.8%+18% / +199%
    BDX.WABudimex Spółka Akcyjna18.9 bn35.341.5%6.2%+8.9%+18% / +33%
    BFT.WABenefit Systems Spółka Akcyjna18.1 bn130.720.8%7.2%+99.9%+74% / +221%
    ASE.WAAsseco South Eastern Europe Spółka Akcyjna3.7 bn19.618.1%12.0%+36.5%+6% / +50%
    1AT.WAAtal Spółka Akcyjna2.3 bn6.429.8%22.2%−1.3%+7% / +8%
    ATT.WAGrupa Azoty Spółka Akcyjna1.6 bn—-37.9%-20.8%−45.1%−15% / −26%
    ARH.WAArchicom Spółka Akcyjna1.3 bn12.115.9%22.1%−21.6%+13% / +88%
    ACT.WAAction S.A.999.4 m27.28.3%1.5%+6.1%+71% / +171%
    BRS.WABoryszew Spółka Akcyjna874.1 m8.26.3%1.6%+8.4%−25% / −28%
    AGO.WAAgora Spółka Akcyjna588.0 m—-14.2%-9.2%+15.2%+37% / +18%
    AMB.WAAmbra S.A.462.9 m7.516.4%7.0%+12.9%+4% / −33%
    ATC.WAArctic Paper Spółka Akcyjna344.7 m1.416.3%7.0%−27.5%−40% / −75%
    ATG.WA"atm Grupa Spółka Akcyjna"298.5 m11.08.9%11.6%−22.0%−11% / +2%
    ART.WAArtifex Mundi S.A.229.7 m17.735.7%33.3%+51.9%+48% / +14%
    APN.WAAPLISENS Spółka Akcyjna192.4 m9.411.4%13.8%+21.8%−2% / −22%
    ALI.WAALTUS Spolka Akcyjna158.1 m17.37.9%16.9%+30.3%+38% / +52%
    BMC.WABumech Spółka Akcyjna156.9 m—-3.4%-3.9%−40.0%−36% / −49%
    BBT.WABoomBit Spółka Akcyjna71.9 m4.520.7%6.4%−16.5%−18% / −56%
    FAB.WAK2 Holding S.A.63.7 m2.577.7%45.4%+31.1%+6% / −26%
    BBD.WABbi Development S.A.54.1 m1.136.0%208.3%+50.2%+1% / +9%
    ALG.WAAll in! Games Spółka Akcyjna39.6 m——-156.9%−72.2%−27% / −56%
    BMX.WABioMaxima Spółka Akcyjna36.3 m62.01.2%1.3%−67.5%−31% / −46%
    06N.WAMagna Polonia Spółka Akcyjna31.1 m0.5115.4%964.7%+13.0%−29% / −43%
    BCM.WABETACOM Spółka Akcyjna26.3 m17.38.0%0.9%+21.3%+6% / +2%
    AWM.WAAirway Medix Spółka Akcyjna13.8 m—-25.8%-117,400.0%−97.7%−26% / −45%

    1- and 3-year price returns: for FAB.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.

    Bear
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Base
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Bull
    Allowed range: -50 … 50%
    Allowed range: -100 … 100%
    Allowed range: 0 … 100
    Allowed range: -10 … 20%
    Allowed range: 0 … 100%
    Nothing is saved.

    Estimated price (PLN)

    Estimated priceBearBaseBull
    1 years
    16.52
    Total return -12% · Per year -12%
    29.07
    Total return 43% · Per year 43%
    43.61
    Total return 104% · Per year 104%
    3 years
    19.60
    Total return 58% · Per year 17%
    38.45
    Total return 163% · Per year 38%
    62.80
    Total return 285% · Per year 57%
    5 years
    23.24
    Total return 142% · Per year 19%
    50.85
    Total return 321% · Per year 33%
    90.43
    Total return 545% · Per year 45%
    What moves the 3-year price the most
    • Exit P/E± 9.61
    • Net margin± 6.73
    • Annual revenue growth± 5.02
    • Annual dilution± 0.57

    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)

    Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.