olivLaw · European equity research
KOMPUTRONIK SPÓŁKA AKCYJNA KOM.WA
Poland · GPW Warszawa · ISIN PLKMPTR00012 · Vertical: Listed companies from Poland
Komputronik is a Polish group active in distributing IT and mobile equipment, alongside IT services and public-sector infrastructure projects. The group exited restructuring with a debt-reduction plan and is gradually recovering after a difficult 2023 marked by European surplus inventories and a strong national currency. Key figures: revenue of about 1,635.3 mln zł in 2023 and sales profit of 196.5 mln zł.
At the close of 05 Nov 2026, KOMPUTRONIK SPÓŁKA AKCYJNA (KOM.WA) stock was 5.72 PLN (+2.88% on the day), with market capitalisation 55.0 m PLN, dividend yield 0.00%, beta 0.28, 52-week range 5.45–7.54 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)
- 45.1
- neutral
- Bollinger (20, 2)
- 5.58 – 6.31
- in the lower half of the band · %B 0.19 · band width 12.3%
- SMA 50 / 200
- 5.84 / 6.12
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.06 / -0.01
- 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 | −9.1% | −0.6% | −8.4 pp | — |
| 3 months | −2.1% | −4.2% | +2.1 pp | — |
| 6 months | −4.5% | +4.3% | −8.8 pp | — |
| Year to date | −14.6% | +7.5% | −22.1 pp | — |
| 1 year | −5.9% | +9.9% | −15.8 pp | +7.1% |
| 3 years | +12.6% | +49.8% | −37.2 pp | +3.3% |
| 5 years | +71.3% | +42.8% | +28.4 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.
Fiscal years
| Fiscal year | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | 1.8 bn | 1.9 bn | 1.6 bn |
| Revenue YoY | unavailable | +4.7% | −11.9% |
| Net income | 14.6 m | 150.7 m | -4.5 m |
| Net income YoY | unavailable | +931.1% | −103.0% |
| Diluted EPS | 1.52 | 15.38 | -0.47 |
| Diluted EPS YoY | unavailable | +911.8% | −103.1% |
| net % | 0.8% | 8.1% | -0.3% |
| Free cash flow | 25.0 m | -10.4 m | 8.9 m |
Balance sheet & financial health
Fiscal year 2024 · 31 Mar 2024
- Cash
- 23.9 m PLN
- Financial debt
- unavailable PLN
- Net debt
- unavailable PLN
- Equity
- 252.9 m PLN
- Total assets
- 479.7 m PLN
- Debt / equity
- unavailable
- Current ratio
- 2.53x
- ROE
- -1.8%
- ROA
- -0.9%
- FCF margin
- 0.5%
Financial statements (source on every figure)
Revenue and net income (PLN)
Margins
Income statement · PLN
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 1.8 bn | 1.9 bn | 1.6 bn | esef· 04 Jul 2024verified |
| Cost of revenue | 1.5 bn | 1.6 bn | 1.4 bn | esef· 04 Jul 2024verified |
| Gross profit | 227.0 m | 212.5 m | 196.5 m | esef· 04 Jul 2024verified |
| Operating income | 30.0 m | 120.8 m | 2.0 m | esef· 04 Jul 2024verified |
| Interest expense | 8.4 m | 7.4 m | — | esef· 11 Jul 2023verified |
| Pre-tax income | 20.6 m | 156.2 m | -4.8 m | esef· 04 Jul 2024verified |
| Income tax | 5.7 m | 5.6 m | -172.0 k | esef· 04 Jul 2024verified |
| Net income | 14.6 m | 150.7 m | -4.5 m | esef· 04 Jul 2024verified |
| Diluted EPS | 1.52 | 15.38 | -0.47 | esef· 04 Jul 2024verified |
| Dividend per share | 0.00 | 0.02 | 0.00 | esef· 04 Jul 2024derived |
Balance sheet · PLN
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Cash | 52.8 m | 33.9 m | 23.9 m | esef· 04 Jul 2024verified |
| Inventories | 169.9 m | 188.3 m | 174.1 m | esef· 04 Jul 2024verified |
| Current assets | 333.7 m | 346.1 m | 335.2 m | esef· 04 Jul 2024verified |
| Property, plant & equipment, net | 47.4 m | 50.5 m | 47.8 m | esef· 04 Jul 2024verified |
| Goodwill | 16.6 m | 14.8 m | 14.8 m | esef· 04 Jul 2024verified |
| Intangibles (excl. goodwill) | 22.5 m | 23.4 m | 25.4 m | esef· 04 Jul 2024verified |
| Total assets | 462.0 m | 482.9 m | 479.7 m | esef· 04 Jul 2024verified |
| Current liabilities | 339.8 m | 122.6 m | 132.5 m | esef· 04 Jul 2024verified |
| Total liabilities | 355.7 m | 225.2 m | 226.8 m | esef· 04 Jul 2024verified |
| Equity | 106.2 m | 257.7 m | 252.9 m | esef· 04 Jul 2024verified |
| Shares outstanding at year end | 9.6 m | 9.8 m | 9.6 m | esef· 04 Jul 2024derived |
Cash flow · PLN
| Line | 2022 | 2023 | 2024 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 30.7 m | -4.3 m | 11.1 m | esef· 04 Jul 2024verified |
| Capex | 5.7 m | 6.1 m | 2.2 m | esef· 04 Jul 2024verified |
| Free cash flow | 25.0 m ≈ | -10.4 m ≈ | 8.9 m ≈ | esef· 04 Jul 2024derived |
| Investing cash flow | -1.7 m | -3.1 m | -10.3 m | esef· 04 Jul 2024verified |
| Financing cash flow | -10.1 m | -11.5 m | -10.9 m | esef· 04 Jul 2024verified |
| Dividends paid | 0 | 220.0 k | 0 | esef· 04 Jul 2024verified |
≈ 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: 35.4% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 55.0 m PLN
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
35% · 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: 35.4% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -0.3% | 21 (vs peers) | 18% |
| 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 | 0.3x | 0 (on a fixed band) | 18% |
| Current ratio · Balance sheet | 2.5x | 100 (on a fixed band) | 12% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 16.1% | 100 (on a fixed band) | 24% |
| Shareholder yield (distributions) · Returns | 0.0% | 0 (on a fixed band) | 18% |
| Payout ratio (FCF) · Returns | 0.0% | 100 (on a fixed band) | 12% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial21/100 · 1/3 factors with a value
- Returns40/100 · 2/2 factors with a value
- Valuation· partial100/100 · 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
KOMPUTRONIK SPÓŁKA AKCYJNA (KOM.WA). Latest full fiscal year: 2024; data up to 2024-03-31.
Figures computed from the financial statements: revenue 1.6 bn PLN in 2024; YoY growth -11.9%; net margin -0.3%; ROE -1.8%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (score weight coverage: 35.4% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.5x
- FCF yield: 16.1%
- Payout ratio (FCF): 0.0%
What contradicts it
- Net margin: -0.3%
- Interest coverage: 0.3x
- Shareholder yield (distributions): 0.0%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA.
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 | |
|---|---|---|---|---|---|---|
| BDX.WABudimex Spółka Akcyjna | 19.3 bn | 36.1 | 41.5% | 6.2% | +8.9% | +21% / +36% |
| ACP.WAAsseco Poland S.A. | 19.2 bn | 38.1 | 7.8% | 2.9% | +19.8% | +19% / +202% |
| BFT.WABenefit Systems Spółka Akcyjna | 18.1 bn | 131.1 | 20.8% | 7.2% | +99.9% | +74% / +221% |
| ASE.WAAsseco South Eastern Europe Spółka Akcyjna | 3.7 bn | 19.8 | 18.1% | 12.0% | +36.5% | +7% / +52% |
| 1AT.WAAtal Spółka Akcyjna | 2.3 bn | 6.4 | 29.8% | 22.2% | −1.3% | +7% / +8% |
| ATT.WAGrupa Azoty Spółka Akcyjna | 1.7 bn | — | -37.9% | -20.8% | −45.1% | −10% / −22% |
| ARH.WAArchicom Spółka Akcyjna | 1.3 bn | 12.1 | 15.9% | 22.1% | −21.6% | +13% / +89% |
| ACT.WAAction S.A. | 997.4 m | 27.1 | 8.3% | 1.5% | +6.1% | +70% / +170% |
| BRS.WABoryszew Spółka Akcyjna | 889.2 m | 8.3 | 6.3% | 1.6% | +8.4% | −24% / −26% |
| AGO.WAAgora Spółka Akcyjna | 601.9 m | — | -14.2% | -9.2% | +15.2% | +40% / +21% |
| AMB.WAAmbra S.A. | 468.0 m | 7.6 | 16.4% | 7.0% | +12.9% | +5% / −33% |
| ATC.WAArctic Paper Spółka Akcyjna | 357.2 m | 1.4 | 16.3% | 7.0% | −27.5% | −38% / −75% |
| ATG.WA"atm Grupa Spółka Akcyjna" | 299.3 m | 11.1 | 8.9% | 11.6% | −22.0% | −11% / +3% |
| ART.WAArtifex Mundi S.A. | 226.6 m | 17.4 | 35.7% | 33.3% | +51.9% | +46% / +12% |
| APN.WAAPLISENS Spółka Akcyjna | 194.6 m | 9.5 | 11.4% | 13.8% | +21.8% | −1% / −21% |
| BMC.WABumech Spółka Akcyjna | 155.7 m | — | -3.4% | -3.9% | −40.0% | −37% / −49% |
| ALI.WAALTUS Spolka Akcyjna | 153.9 m | 16.8 | 7.9% | 16.9% | +30.3% | +34% / +48% |
| BBT.WABoomBit Spółka Akcyjna | 71.4 m | 4.5 | 20.7% | 6.4% | −16.5% | −19% / −57% |
| KOM.WAKomputronik Spółka Akcyjna | 55.0 m | — | -1.8% | -0.3% | −11.9% | −19% / +19% |
| BBD.WABbi Development S.A. | 54.1 m | 1.1 | 36.0% | 208.3% | +50.2% | +1% / +9% |
| ALG.WAAll in! Games Spółka Akcyjna | 39.8 m | — | — | -156.9% | −72.2% | −27% / −56% |
| BMX.WABioMaxima Spółka Akcyjna | 37.0 m | 63.2 | 1.2% | 1.3% | −67.5% | −29% / −45% |
| 06N.WAMagna Polonia Spółka Akcyjna | 31.3 m | 0.5 | 115.4% | 964.7% | +13.0% | −28% / −42% |
| BCM.WABETACOM Spółka Akcyjna | 26.7 m | 17.6 | 8.0% | 0.9% | +21.3% | +8% / +4% |
| AWM.WAAirway Medix Spółka Akcyjna | 14.3 m | — | -25.8% | -117,400.0% | −97.7% | −23% / −43% |
1- and 3-year price returns: for KOM.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
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
Komputronik is a Polish group active in distributing IT and mobile equipment, alongside IT services and public-sector infrastructure projects. The group exited restructuring with a debt-reduction plan and is gradually recovering after a difficult 2023 marked by European surplus inventories and a strong national currency. Key figures: revenue of about 1,635.3 mln zł in 2023 1 and sales profit of 196.5 mln zł 1.
SWOT
Strengths
- The group completed its restructuring and states it is meeting the restructuring plan. Its distribution business spans several product and service categories.
- Management considers the group's situation stable, and the going-concern assumption is judged justified for at least one year 1.
- The group reduced both variable and fixed costs as sales fell, indicating some operational flexibility 1.
Weaknesses
- Sales and profit fell in 2023 compared with the prior year, particularly in the first half of the fiscal year 1.
- Limited access to external financing restricts purchasing capacity, which may affect volumes 1.
- Dependence on the Polish market, where most revenue is generated, exposes the group to local economic conditions 1.
Opportunities
- If consumer confidence keeps improving, demand for equipment could gradually recover 1.
- IT projects funded from public money, including the National Recovery Plan, could open new long-term contracts 1.
- Currency stabilisation and normalising inventories could improve margins if these trends are confirmed 1.
Risks
- Constrained financinghigh
If financing instruments such as factoring and overdraft credit remain limited, purchasing capacity and sales growth could be affected 1.
- Slowdown in European marketshigh
A slowdown in electronics distribution in Poland and Europe, linked to weak consumer sentiment and high inflation, could reduce sales 1.
- Tax auditsmedium
Ongoing tax audits and possible future audits could disrupt the group's operational and financial stability 1.
- Legislative changes and costsmedium
Legislative changes on taxes, fees and the minimum wage could raise operating costs across the economy 1.
- Impact of the war in Ukrainelow
Economic effects of the conflict, such as slowdown, inflation and high interest rates, could indirectly affect results, although direct activity in Russia and Ukraine is marginal 1.
Investment thesis
What would need to be true (bull case)
- If consumer confidence and currency stability hold, the group could recover sales lost in 2023 and improve profitability 1.
- Exiting restructuring and meeting the creditor payment plan could strengthen trust with trade partners and ease access to financing 1.
- Public-sector IT projects and implementation services could add recurring revenue if new contracts are won 1.
What would break the thesis
- If financing stays constrained, the group could struggle to rebuild sales volumes and sustain growth 1.
- Pressure from cheap imported products and European surpluses could keep compressing margins 1.
- Dependence on the Polish market and consumer demand could leave results vulnerable to another economic slowdown 1.
What to watch
- Development of revenue and sales profit compared with 20232024
- Payments of restructuring plan instalments to creditors2025
- Access to factoring, leasing and overdraft credit2024
- Outcome of ongoing tax auditsnext 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 Komputronik group's main activity is distributing computer equipment and peripherals, along with IT and implementation services. Most revenue is generated in Poland 1. The parent and the subsidiary Komputronik Biznes completed restructuring by accepting composition proposals, and the creditor payment plan is being executed 1. In 2023 revenue fell to 1,635.3 mln zł 1, and the company states the going-concern assumption is justified for at least 12 months from the balance sheet date 1.
Segments
Sprzęt IT i Mobile
The largest product segment, covering IT equipment and mobile phones. The sales decline in the first half of fiscal 2023/2024 hit this segment first, due to surplus stock in Western Europe and the strong zloty 1.
Usługi i oprogramowanie
The IT services and software segment, including customer implementations. The annual report gives no separate figures for this segment in the available text 1.
Kontrakty długoterminowe
Long-term projects building IT infrastructure for public-sector entities, recognised as work progresses. This segment depends on public funding, including the National Recovery Plan, whose loss was identified as a risk 1.
Market context
The report describes a European consumer electronics market still under pressure, with distribution slowing due to weak consumer sentiment, high inflation and high interest rates 1. According to the company, consumer sentiment improved from September 2023 and inventories are returning to normal levels 1. The pace of recovery depends on currency stabilisation and access to external financing 1.
Trends
- Recovery of consumer confidencetailwind
Consumer sentiment improved from September 2023, supporting group results after a weak first half 1. If this trend holds, it could support sales volumes.
- Surplus inventories in Europemixed
Product surpluses in many Western European countries flooded the Polish market with cheaper goods, and the company says these stocks have largely been sold off 1.
- Strengthening zlotyheadwind
A stronger Polish currency against foreign currencies made imported products cheaper, pressuring margins and sales in the first part of the fiscal year 1. Currency stabilisation is seen as a positive factor 1.
- Access to financingheadwind
Limited financing instruments such as factoring, leasing and overdraft credit restrict purchasing capacity and may slow sales growth 1.
Competitive position
The annual report does not explicitly name competitors. The Polish and European electronics and IT distribution sector is nonetheless contested, and competitive pressure shows up through cheaply imported products 1.
- Consumer electronics distributors in Poland
The annual report does not name competitors; the sector is mentioned only in general terms 1.
- European traders with surplus inventories
The report mentions suppliers and markets in Western Europe that created product surpluses 1.
- Low-priced imported products
The pressure comes from cheaper goods entering Poland rather than from a named competitor 1.
- IT service providers for the public sector
IT infrastructure projects for public institutions involve other market participants, not named in the report 1.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202404 Jul 2024
- Annual report 202311 Jul 2023
Sources
- [1] Annual report, fiscal year ended 2024-03-31 (ESEF) · SEC / KOMPUTRONIK SPÓŁKA AKCYJNA · 31 Mar 2024
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.