olivLaw · European equity research
Kruk S.A. KRU.WA
Poland · GPW Warszawa · ISIN PLKRK0000010 · Vertical: Listed companies from Poland
At the close of 06 Nov 2026, Kruk S.A. (KRU.WA) stock was 331.00 PLN (+0.06% on the day), with market capitalisation 6.3 bn PLN, P/E 8.1 on diluted EPS of 40.71 PLN over the last 12 months, dividend yield 3.93%, beta 0.62, 52-week range 329.00–504.80 PLN.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 35.5
- weak (30–45)
- Bollinger (20, 2)
- 323.00 – 360.67
- in the lower half of the band · %B 0.21 · band width 11.0%
- SMA 50 / 200
- 367.91 / 423.54
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -11.12 / -11.07
- 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 | −12.1% | −0.6% | −11.5 pp | — |
| 3 months | −23.1% | −4.2% | −18.9 pp | — |
| 6 months | −23.4% | +4.3% | −27.7 pp | — |
| Year to date | −32.9% | +7.5% | −40.4 pp | — |
| 1 year | −27.9% | +9.9% | −37.8 pp | +5.9% |
| 3 years | −29.6% | +49.8% | −79.4 pp | +2.3% |
| 5 years | −14.8% | +42.8% | −57.6 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 33 percentile of its own 3-quarter history (min 7.6, median 9.1, max 33.6; quarters with earnings only).
Fiscal years
| Fiscal year | 2020 | 2021 | 2022 |
|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable | unavailable |
| Net income | 81.4 m | 694.8 m | 805.0 m |
| Net income YoY | unavailable | +754.0% | +15.9% |
| Diluted EPS | 4.22 | 35.80 | 40.71 |
| Diluted EPS YoY | unavailable | +748.3% | +13.7% |
| net % | unavailable | unavailable | unavailable |
| Free cash flow | 726.5 m | -304.9 m | -602.0 m |
Balance sheet & financial health
Fiscal year 2022 · 31 Dec 2022
- Cash
- 202.2 m PLN
- Financial debt
- unavailable PLN
- Net debt
- unavailable PLN
- Equity
- 3.3 bn PLN
- Total assets
- 7.7 bn PLN
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 27.5%
- ROA
- 11.8%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (PLN)
Income statement · PLN
| Line | 2020 | 2021 | 2022 | Source (latest year) |
|---|---|---|---|---|
| Operating income | 332.3 m | 859.6 m | 1.0 bn | esef· 02 May 2023verified |
| Depreciation & amortisation | 46.5 m | 48.4 m | 51.2 m | esef· 02 May 2023verified |
| EBITDA | 378.8 m ≈ | 908.0 m ≈ | 1.1 bn ≈ | esef· 02 May 2023derived |
| Interest expense | 127.9 m | 97.1 m | 186.5 m | esef· 02 May 2023verified |
| Pre-tax income | 204.4 m | 774.0 m | 863.7 m | esef· 02 May 2023verified |
| Income tax | 123.4 m | 79.1 m | 58.7 m | esef· 02 May 2023verified |
| Net income | 81.4 m | 694.8 m | 805.0 m | esef· 02 May 2023verified |
| Diluted EPS | 4.22 | 35.80 | 40.71 | esef· 02 May 2023verified |
| Dividend per share | 0.04 | 11.00 | 13.00 | esef· 02 May 2023verified |
≈ 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 | 145.6 m | 199.2 m | 202.2 m | esef· 02 May 2023verified |
| Goodwill | 23.9 m | 23.8 m | 17.0 m | esef· 02 May 2023verified |
| Intangibles (excl. goodwill) | 50.7 m | 43.5 m | 70.8 m | esef· 02 May 2023verified |
| Total assets | 4.6 bn | 5.9 bn | 7.7 bn | esef· 02 May 2023verified |
| Total liabilities | 2.6 bn | 3.3 bn | 4.4 bn | esef· 02 May 2023verified |
| Equity | 2.0 bn | 2.6 bn | 3.3 bn | esef· 02 May 2023verified |
| Shares outstanding at year end | 19.0 m | 19.0 m | 19.1 m | esef· 02 May 2023derived |
Cash flow · PLN
| Line | 2020 | 2021 | 2022 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 743.5 m | -288.8 m | -567.8 m | esef· 02 May 2023verified |
| Capex | 17.0 m | 16.1 m | 34.3 m | esef· 02 May 2023verified |
| Free cash flow | 726.5 m ≈ | -304.9 m ≈ | -602.0 m ≈ | esef· 02 May 2023derived |
| Investing cash flow | -10.9 m | -13.6 m | -32.3 m | esef· 02 May 2023verified |
| Financing cash flow | -737.3 m | 356.0 m | 603.0 m | esef· 02 May 2023verified |
| Dividends paid | 667.0 k | 206.6 m | 248.8 m | esef· 02 May 2023verified |
| Share repurchases | 94.9 m | 0 | — | esef· 22 Mar 2022verified |
≈ 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
- indicators available: 5 of at least 6
- score weight coverage: 37.5% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
06 Nov 2026Source: olivLaw, closing series
Market cap: 6.3 bn PLN
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
38% · 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: 37.5% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | -74.8% | 0 (on a fixed band) | 17% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 5.6x | 63 (on a fixed band) | 17% |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 8.1x | 70 (vs peers) | 28% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -9.5% | 0 (on a fixed band) | 22% |
| Shareholder yield (distributions) · Returns | 3.9% | 56 (on a fixed band) | 17% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial63/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial0/100 · 1/3 factors with a value
- Returns· partial56/100 · 1/2 factors with a value
- Valuation39/100 · 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
KRUK S.A. (KRU.WA). Latest full fiscal year: 2022; data up to 2022-12-31.
Figures computed from the financial statements: ROE 27.5%.
The estimated value range is 199.21–467.28 PLN per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 305.63 PLN, the price of 331.00 PLN leaves a potential of -7.7% (value / price − 1) and a margin of safety of -8.3% (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: 37.5% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- P/E (TTM): 8.1x
What contradicts it
- FCF conversion: -74.8%
- FCF yield: -9.5%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, Net margin, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Current ratio, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Listed companies from Poland · same country · compared with 40 companies
Multiples and returns vs the median
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% |
| CAR.WAInter Cars Spółka Akcyjna | 15.0 bn | 21.4 | 17.0% | 3.9% | +18.0% | +89% / +82% |
| ASE.WAAsseco South Eastern Europe Spółka Akcyjna | 3.7 bn | 19.6 | 18.1% | 12.0% | +36.5% | +6% / +50% |
| 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 KRU.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
Scenarios are not available. input data missing
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 202122 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.