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Grupa Kety S.A.

KTY.WA
68
Aluminum · Basic Materials
Price
1227.00 PLN
+14.00 (+1.15%)
Market Cap
12.10B PLN
Exchange
Warsaw Stock Exchange
Winston Score
68
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Good
Growth
Good
Cash Flow
Strong
Stability
Strong
Valuation
Good
Dividends
Exceptional

Share count rising — dilution

+2.3% over 4y

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

Diluted shares outstanding: 9.7M (2021) → 9.9M (2025)

Winston Score History

The full picture

Grupa Kety S.A. is a Polish industrial company that makes aluminum products. It operates three main business lines: aluminum packaging (like flexible packaging for food and medicine), aluminum systems (profiles used in windows, doors, and building facades), and extruded aluminum profiles sold to manufacturers in industries like construction, automotive, and electronics. It is one of the largest aluminum processors in Central and Eastern Europe.

The company earns money by buying raw aluminum, processing it into finished or semi-finished products, and selling those to business customers. Most of its revenue comes from Poland, but it also sells across Europe. Its competitive position comes from vertical integration, meaning it controls multiple steps of production, which helps keep costs lower than smaller rivals. The main risk the business faces is the price of raw aluminum, which it does not control and which can squeeze profit margins when input costs rise faster than the prices it can charge customers.

Growth Profile

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

Revenue Growth

+14.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+41.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

0 PLN/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

10.8%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

71M PLN cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Growth + cash flow

Grupa Kety S.A. is a rare growth stock that's already generating positive cash flow while growing at 15%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
20.3%
Thin — 20.3% gross margin
Profit after running costs
Operating Margin
19.2%
Healthy — 19.2% operating margin
Return on the money invested
ROCE
28.8%
Exceptional — 28.8% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth
Sales YoY
+6.0%
Slow sales growth (+6.0% YoY)
Profit growth
EPS YoY
+23.4%
Earnings growing fast (+23.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
129%
Turns 129% of profit into real cash
Spare cash per sale
FCF Margin
11.0%
Modest free cash flow (11.0%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.60
Conservative — low debt load (0.60)
Covers its interest
Interest Cover
12.54x
Comfortably covers interest (12.5x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
18.2x
Fair value — P/E 18.2

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
+2.3
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend
Dividend Yield
4.32%
Healthy income — 4.32% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+42.7%
Dividend growing fast (42.7% YoY)

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