Archicom S.A.

ARH.WA

Real Estate - Development · Real Estate

Price

51.60 PLN

-1.00 (-1.90%)

Market Cap

3.02B PLN

Exchange

Warsaw Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Mixed

Growth

Good

Cash Flow

Exceptional

Stability

Strong

Valuation

Strong

Dividends

Strong

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Share count rising — dilution

+127.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 25.7M (2021) → 58.5M (2025)

Winston Score History

The full picture

Archicom S.A. is a Polish residential real estate developer that designs and builds apartments and housing communities for individual buyers. The company sells finished homes and flats, primarily to people looking for a place to live or investors buying property to rent out. It operates mainly in Poland's largest cities, with a strong presence in Wrocław, and is one of the notable mid-to-large residential developers listed on the Warsaw Stock Exchange.

Archicom makes money by purchasing land, developing residential projects, and selling completed units to buyers. The company operates entirely within Poland, and its competitive position benefits from its established brand in Wrocław and its ability to manage large, multi-phase housing developments. The key risk the business faces is sensitivity to interest rates — when borrowing costs rise, fewer people can afford mortgages, which slows apartment sales and can pressure both revenue and margins.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

>+1,000% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+272.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

0 PLN/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

35.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

755M PLN cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Archicom S.A. grew revenue 1608% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

30.4%

Modest — 30.4% gross margin

Profit after running costs

Operating Margin

18.6%

Healthy — 18.6% operating margin

Return on the money invested

ROCE

10.0%

Below par — 10.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+166.8%

Fast-growing sales (+166.8% YoY)

Profit growth

EPS YoY

>+1,000%

Earnings growing fast (>+1,000% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

164%

Turns 164% of profit into real cash

Spare cash per sale

FCF Margin

21.3%

Converts sales into free cash efficiently (21.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns

Debt / Equity

0.71

Moderate — manageable debt (0.71)

Covers its interest

Interest Cover

16.26x

Comfortably covers interest (16.3x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

15.7x

Fair value — P/E 15.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

+9.5

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (15.7 → 6.2)

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Dividends

Dividend

Dividend Yield

3.46%

Moderate income — 3.46% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+52.5%

Dividend growing fast (52.5% YoY)

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