Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna

WSE:PKO Stock Report

Market Cap: zł129.5b

Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna Valuation

Is PKO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of PKO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: PKO (PLN103.62) is trading below our estimate of future cash flow value (PLN140.33)

Significantly Below Future Cash Flow Value: PKO is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PKO?

Key metric: As PKO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PKO. This is calculated by dividing PKO's market cap by their current earnings.
What is PKO's PE Ratio?
PE Ratio12.1x
Earningszł10.74b
Market Capzł129.53b

Price to Earnings Ratio vs Peers

How does PKO's PE Ratio compare to its peers?

The above table shows the PE ratio for PKO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.3x
EBP Erste Bank Polska
11.7x9.92%zł66.2b
PEO Bank Polska Kasa Opieki
9.2x2.45%zł60.1b
MBK mBank
15.4x9.12%zł58.4b
ING ING Bank Slaski
13.1x5.72%zł58.0b
PKO Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
12.1x8.92%zł129.5b

Price-To-Earnings vs Peers: PKO is good value based on its Price-To-Earnings Ratio (12.1x) compared to the peer average (12.3x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does PKO's PE Ratio compare vs other companies in the European Banks Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PKO 12.1xIndustry Avg. 11.5xNo. of Companies41PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PKO is expensive based on its Price-To-Earnings Ratio (12.1x) compared to the European Banks industry average (11.5x).

Price to Earnings Ratio vs Fair Ratio

What is PKO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PKO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.1x
Fair PE Ratio12.4x

Price-To-Earnings vs Fair Ratio: PKO is good value based on its Price-To-Earnings Ratio (12.1x) compared to the estimated Fair Price-To-Earnings Ratio (12.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PKO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentzł103.62
zł106.45
+2.73%
7.65%zł120.00zł92.00n/a15
Jun ’27zł100.00
zł106.33
+6.33%
7.55%zł120.00zł92.00n/a15
May ’27zł94.64
zł102.80
+8.62%
8.84%zł120.00zł90.94n/a14
Apr ’27zł89.42
zł99.82
+11.63%
9.23%zł120.00zł88.00n/a14
Mar ’27zł92.46
zł97.82
+5.80%
9.51%zł120.00zł85.00n/a13
Feb ’27zł92.58
zł92.67
+0.10%
10.91%zł120.00zł76.00n/a13
Jan ’27zł85.16
zł88.91
+4.40%
7.67%zł101.00zł76.00n/a13
Dec ’26zł78.04
zł87.52
+12.15%
8.46%zł101.00zł76.00n/a12
Nov ’26zł75.70
zł87.41
+15.47%
9.41%zł101.00zł75.00n/a12
Oct ’26zł71.18
zł87.99
+23.62%
9.19%zł101.00zł74.00n/a13
Sep ’26zł70.12
zł89.15
+27.13%
7.52%zł100.00zł77.00n/a13
Aug ’26zł81.16
zł85.23
+5.02%
8.65%zł100.00zł73.00n/a13
Jul ’26zł74.24
zł85.92
+15.73%
8.54%zł100.00zł73.00n/a12
Jun ’26zł75.28
zł83.65
+11.12%
9.87%zł100.00zł72.00zł100.0012
May ’26zł72.38
zł82.82
+14.43%
8.67%zł94.30zł72.00zł94.6412
Apr ’26zł75.72
zł81.26
+7.32%
12.30%zł94.30zł64.20zł89.4212
Mar ’26zł69.10
zł75.27
+8.93%
11.22%zł92.00zł60.00zł92.4613
Feb ’26zł66.92
zł75.07
+12.18%
11.30%zł92.00zł60.00zł92.5812
Jan ’26zł59.76
zł73.99
+23.81%
11.33%zł92.00zł60.00zł85.1612
Dec ’25zł55.90
zł74.28
+32.88%
11.72%zł94.00zł60.00zł78.0412
Nov ’25zł55.80
zł74.50
+33.51%
11.92%zł94.00zł60.00zł75.7012
Oct ’25zł54.86
zł74.50
+35.80%
11.92%zł94.00zł60.00zł71.1812
Sep ’25zł57.88
zł72.14
+24.64%
11.73%zł84.50zł55.00zł70.1212
Aug ’25zł57.96
zł70.88
+22.28%
12.24%zł84.50zł55.00zł81.1612
Jul ’25zł62.58
zł69.13
+10.46%
13.07%zł84.50zł55.00zł74.2412
Jun ’25zł59.36
zł68.13
+14.77%
13.10%zł84.50zł55.00zł75.2812
zł106.45
Fair Value
2.7% undervalued intrinsic discount
15
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/28 08:22
End of Day Share Price 2026/06/26 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna is covered by 26 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ivan BokhmatBarclays
Krishnendra DubeyBarclays
Andreas MarkouBerenberg