XTB S.A.

WSE:XTB Stock Report

Market Cap: zł19.6b

XTB Past Earnings Performance

Past criteria checks 6/6

XTB has been growing earnings at an average annual rate of 18.4%, while the Capital Markets industry saw earnings declining at 7% annually. Revenues have been growing at an average rate of 27.5% per year. XTB's return on equity is 49.6%, and it has net margins of 40.2%.

Key information

18.43%

Earnings growth rate

18.39%

EPS growth rate

Capital Markets Industry Growth9.44%
Revenue growth rate27.48%
Return on equity49.61%
Net Margin40.24%
Next Earnings Update28 Aug 2026

Recent past performance updates

Recent updates

New Narrative • Aug 12

XTB SA: 2 Minute Drill: How Do You Grow This Fast Without a Moat?

XTB has become a 10-bagger over the past five years , while growing its customer base at extraordinary rates and simultaneously cutting customer acquisition costs from around PLN 1,100 to PLN 600. That immediately caught my attention.
New Narrative • Aug 11

Digital Investing Shift And New Products Will Support A Resilient Long Term Earnings Profile

Catalysts About XTB XTB is a fintech broker that offers CFDs and a broad range of listed equities, ETFs, options and savings style investment products to retail customers across multiple markets. What are the underlying business or industry changes driving this perspective?
Analysis Article • Aug 01

Revenue Beat: XTB S.A. Beat Analyst Estimates By 19%

It's been a good week for XTB S.A. ( WSE:XTB ) shareholders, because the company has just released its latest...
Analysis Article • May 06

With EPS Growth And More, XTB (WSE:XTB) Makes An Interesting Case

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
Analysis Article • Jan 19

With XTB S.A. (WSE:XTB) It Looks Like You'll Get What You Pay For

With a median price-to-earnings (or "P/E") ratio of close to 13x in Poland, you could be forgiven for feeling...
Analysis Article • Oct 08

Insufficient Growth At XTB S.A. (WSE:XTB) Hampers Share Price

When close to half the companies in Poland have price-to-earnings ratios (or "P/E's") above 14x, you may consider XTB...
New Narrative • Mar 10

XTB's Path to 100–120 PLN by 2028 Amid Market Volatility

Stock Price Performance: XTB hit an all-time high of 78.00 PLN on January 21, 2025, with a market cap around 7.89 billion PLN (as per TradingView data). Its all-time low was 2.92 PLN in September 2019

Revenue & Expenses Breakdown

How XTB makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

WSE:XTB Revenue, expenses and earnings (PLN Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
30 Jun 263,1341,2611,2520
31 Mar 263,1559851,1480
31 Dec 252,1246441,0260
30 Sep 252,5586539060
30 Jun 252,6518048100
31 Mar 252,4527487390
31 Dec 241,8588576570
30 Sep 241,9019165970
30 Jun 241,7108335690
31 Mar 241,6107915340
31 Dec 231,6067915250
30 Sep 231,3365925060
30 Jun 231,4477084810
31 Mar 231,5618164660
31 Dec 221,4497664180
30 Sep 221,4157843690
30 Jun 221,2236523330
31 Mar 228804012850
31 Dec 216262382520
30 Sep 215832102380
30 Jun 215221742190
31 Mar 216713152160
31 Dec 207994022070
30 Sep 207463991830
30 Jun 206683461700
31 Mar 205122331510
31 Dec 19238581240
30 Sep 19189251230
30 Jun 1917761210
31 Mar 19214431190
31 Dec 182881011180
30 Sep 183241301150
30 Jun 183491641100
31 Mar 183321421060
31 Dec 17276931040
30 Sep 172981111060
30 Jun 17266841070
31 Mar 17230561230
31 Dec 16253781280
30 Sep 16219441290
30 Jun 16272901290
31 Mar 163091011120
31 Dec 152881191020

Quality Earnings: XTB has high quality earnings.

Growing Profit Margin: XTB's current net profit margins (40.2%) are higher than last year (30.3%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: XTB's earnings have grown by 18.4% per year over the past 5 years.

Accelerating Growth: XTB's earnings growth over the past year (56.9%) exceeds its 5-year average (18.4% per year).

Earnings vs Industry: XTB earnings growth over the past year (56.9%) exceeded the Capital Markets industry 55.5%.

Return on Equity

High ROE: XTB's Return on Equity (49.6%) is considered outstanding.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/18 01:59
End of Day Share Price 2026/08/18 00:00
Earnings2026/06/30
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

XTB S.A. is covered by 7 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mikolaj LemanczykBiuro maklerskie mBanku
Andrzej PowierzaCitigroup Inc
Lukasz JanczakErste Group Bank AG