Wirtualna Polska Holding S.A.

WPL.WA · Communication Services · Advertising Agencies · Valued as of 2026-11-05 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

198.97M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

1.22B USD

15 years of cash the shareholders can take out, and the equity left at year 15

Profit is over 3× the larger of EPV and FCFF

FCFF

198.97M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

540.94M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

437.17M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

1.24×

the ratio the screener ranks by

Margin of Safety

+19.2%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 198.97M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).

The earnings power value was not computed (a NOPAT at or below zero this year), so the value is the book value today, 198.97M USD.

Market value

Market Cap437.17M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-119.7%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 1.22B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE706.22M USD
+②Equity at Year 15, Today518.65M USD
=Value1.22B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

706.22M USD

②Equity at Year 15, Today

518.65M USD

Market value

Market Cap437.17M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+64.3%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 198.97M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (an FCFF at or below zero in the latest three years), so the value is the book value today, 198.97M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap437.17M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-119.7%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 5.07%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.21×Market Risk Premium 6.00%= 5.77%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC 25.00% (default): the statements print a tax provision of 14.42M USD on a pretax income of 8.27M USD, which gives no rate between 0 and the profit before tax, so the 25% default stands for the tax the interest saves.

Interest Expense =EBIT 38.23M USD−Pretax Income 8.27M USD= 29.96M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 29.96M USDTotal Debt 503.25M USD×(1 − Tax Rate for WACC 25.00%)= 4.46%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 503.25M USDMarket Cap + Total Debt 437.17M USD + 503.25M USD= 53.51%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 46.49%×Cost of Equity 5.77%+Debt Weight 53.51%×Cost of Debt 4.46%= 5.07%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 1.07B USD − Total Liabilities 875.42M USD = Book Value Today 198.97M USD

Total Debt 503.25M USD − Cash and Short-Term Investments 164.89M USD = Net Debt Today 338.37M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 11.6%at most 5%passes29,775,297 / 29,303,416
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets11.4%at least -10.0%passes(112.82M USD − -9.51M USD) ÷ 1.07B USD
Price to bookMarket Cap ÷ Book Value Today2.20×at most 3×passes437.17M USD ÷ 198.97M USD
Operating marginOperating Income ÷ Revenue12.5%above 10.0%passes77.39M USD ÷ 616.92M USD
Revenue growthRevenue ÷ Revenue a Year Before − 161.4%above 10.0%passes616.92M USD / 382.24M USD
Net cash(Cash − Total Debt) ÷ Market Cap-78.3%above -30%does not pass(161.12M USD − 503.25M USD) ÷ 437.17M USD
Operating efficiencyOperating Income ÷ Gross Profit13.4%above 25.0%does not pass77.39M USD ÷ 575.43M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

57.36 PLN

Enterprise value

2.83B PLN

the provider's own figure

EV / EBITDA

6.04×

Price / book

2.15×

the provider's book

Price / earnings

127.33×

Return on equity

3.2%

the provider's figure, not this page's

Profit margin

0.5%

Revenue growth

7.1%

Analyst target, mean

85.42 PLN

Analysts

6

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

246.04M367.32M382.24M616.92M

Gross profit

222.10M334.00M352.91M575.43M

Operating income

56.48M73.65M69.89M77.39M

EBITDA

operating income before depreciation and amortisation

83.70M111.15M109.42M108.66M

Pretax income

52.83M55.91M53.70M8.27M

Net income

38.93M39.82M37.99M-9.51M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

38.21M40.32M39.78M66.09M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

459.06M533.06M550.18M1.07B

Total liabilities

248.38M298.93M303.42M812.20M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

198.62M225.16M236.23M243.09M

Total debt

168.18M199.73M180.54M524.76M

Cash and equivalents

42.33M61.22M62.92M111.63M

Net PP&E

fixed assets after depreciation

24.94M27.34M22.35M43.24M

Working capital

current assets less current liabilities

7.11M19.10M30.48M95.16M
Cash flow (USD)2022202320242025

Operating cash flow

60.67M98.17M92.07M112.82M

Capital expenditure

paid out, so below zero

-22.16M-31.62M-35.50M-52.08M

Depreciation and amortisation

24.24M39.04M40.74M70.43M

Free cash flow

operating cash flow plus capital expenditure

38.51M66.54M56.57M60.74M