EBP Stock Analysis: Erste Bank Polska S.A. | WAR
Banks - Regional | WAR, Poland | Market Cap: 79.789m PLN | 12M Return: 68.6% | PLBZ00000044 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 61.4M
EPS Trend: 78.4%
Qual. Beats: 0
Rev. Trend: -75.9%
Warnings
No concerns identified
Tailwinds
Seasonality 11.8 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Erste Bank Polska S.A. is a Warsaw-based Polish bank serving individuals, businesses, corporations, and public institutions. Its services include accounts and deposits, digital banking and payments, consumer and mortgage lending, investment and insurance products, and trade-finance services such as guarantees and letters of credit.
Formerly Santander Bank Polska S.A., the company adopted its current name in April 2026. Founded in 1857, it operates in the regional banking sector, where banks typically combine lending and deposit-taking with payment and other financial services.
- Polish rate cuts pressure net interest margins and deposit spreads
- Mortgage growth and CHF loan litigation costs shape earnings
- Capital returns depend on regulatory limits and capital strength
| Net Income: 5.53b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.01 > 0.02 and ΔFCF/TA -5.60 > 1.0 |
| NWC/Revenue: -19.41% < 20% (prev 30.61%; Δ -50.02% < -1%) |
| CFO/TA -0.00 > 3% & CFO -911.1m > Net Income 5.53b |
| Net Debt (15.6b) to EBITDA (8.41b): 1.86 < 3 |
| Current Ratio: 0.81 > 1.5 & < 3 |
| Outstanding Shares: last quarter (102.2m) vs 12m ago 0.0% < -2% |
| Gross Margin: 74.35% > 18% (prev 75.83%; Δ -1.48% > 0.5%) |
| Asset Turnover: 4.89% > 50% (prev 6.86%; Δ -1.97% > 0%) |
| Interest Coverage Ratio: 2.12 > 6 (EBIT TTM 7.84b / Interest Expense TTM 3.70b) |
| A: -0.01 (Total Current Assets 13.0b - Total Current Liabilities 16.1b) / Total Assets 330b |
| B: 0.03 (Retained Earnings 8.39b / Total Assets 330b) |
| C: 0.02 (EBIT TTM 7.84b / Avg Total Assets 324b) |
| D: 0.11 (Book Value of Equity 33.0b / Total Liabilities 297b) |
| Altman-Z'' = 0.30 = B |
As of November 12, 2026, the stock is trading at PLN 787.60 with a total of 97,241 shares traded. Over the past week, the price has changed by +2.37%, over one month by -0.20%, over three months by +8.72% and over the past year by +68.55%.
Current recommended Stop Loss: 720.60 (which is 8.5% or 2.7 ATR below the current price).
Erste Bank Polska S.A. has no consensus analysts rating.
P/E Trailing = 15.0559
P/E Forward = 11.1857
P/S = 5.115
P/B = 2.4361
P/EG = 0.9778
Revenue TTM = 15.8b PLN
EBIT TTM = 7.84b PLN
EBITDA TTM = 8.41b PLN
Long Term Debt = 12.6b PLN (estimated: total debt 28.6b - short term 16.1b)
Short Term Debt = 16.1b PLN (from shortTermDebt, last quarter)
Debt = 28.6b PLN (from shortLongTermDebtTotal, last quarter)
Net Debt = 15.6b PLN (calculated: Debt 28.6b - CCE 13.0b)
Enterprise Value = 95.4b PLN (79.8b + Debt 28.6b - CCE 13.0b)
Interest Coverage Ratio = 2.12 (Ebit TTM 7.84b / Interest Expense TTM 3.70b)
EV/FCF = -56.97x (Enterprise Value 95.4b / FCF TTM -1.67b)
FCF Yield = -1.76% (FCF TTM -1.67b / Enterprise Value 95.4b)
FCF Margin = -10.59% (FCF TTM -1.67b / Revenue TTM 15.8b)
Net Margin = 34.94% (Net Income TTM 5.53b / Revenue TTM 15.8b)
Gross Margin = 74.35% ((Revenue TTM 15.8b - Cost of Revenue TTM 4.06b) / Revenue TTM)
Gross Margin QoQ = 79.39% (prev 76.15%)
Tobins Q-Ratio = 0.29 (Enterprise Value 95.4b / Total Assets 330b)
Interest Expense / Debt = 12.94% (Interest Expense 3.70b / Debt 28.6b)
Taxrate = 31.98% (2.49b / 7.79b)
NOPAT = 5.34b (EBIT 7.84b * (1 - 31.98%))
Current Ratio = 0.81 (Total Current Assets 13.0b / Total Current Liabilities 16.1b)
Debt / Equity = 0.87 (Debt 28.6b / totalStockholderEquity, last quarter 33.0b)
Debt / EBITDA = 1.86 (Net Debt 15.6b / EBITDA 8.41b)
Debt / FCF = -9.33 (negative FCF - burning cash) (Net Debt 15.6b / FCF TTM -1.67b)
Total Stockholder Equity = 34.1b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.71% (Net Income 5.53b / Total Assets 330b)
RoE = 16.23% (Net Income TTM 5.53b / Total Stockholder Equity 34.1b)
RoCE = 16.82% (EBIT 7.84b / Capital Employed (Equity 34.1b + L.T.Debt 12.6b))
RoIC = 1.62% (NOPAT 5.34b / Invested Capital 329b)
WACC = 7.48% (E(79.8b)/V(108b) * Re(7.01%) + D(28.6b)/V(108b) * Rd(12.94%) * (1-Tc(0.32)))
Discount Rate = 7.01% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -37.24 | Cagr: 0.0%
[DCF] Fair Price = unknown (Cash Flow -1.67b)
EPS Correlation: 78.37 | EPS CAGR: 8.46% | SUE: 0.08 | # QB: 0
Revenue Correlation: -75.92 | Revenue CAGR: -11.60% | SUE: N/A | # QB: 0
EPS current Quarter (2027-03-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=59.98 | Chg30d=+2.38% | Revisions=+0% | GrowthEPS=-1.9% | GrowthRev=+5.5%
EPS next Year (2027-12-31): EPS=66.79 | Chg30d=+1.02% | Revisions=+25% | GrowthEPS=+11.3% | GrowthRev=+4.8%
[Analyst] Revisions Ratio: +25% (up=1, down=0)