Jastrzebska Spólka Weglowa S.A.

JSW.WA

Coal · Energy

Exchange

Warsaw Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

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

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

Jastrzębska Spółka Węglowa (JSW) is a Polish coal mining company that digs coking coal out of the ground in the Silesia region of southern Poland. Coking coal is a special type of coal used to make steel, not to generate electricity, and JSW sells mostly to steel mills across Europe. It is one of the largest producers of coking coal in the European Union.

JSW makes money by mining and selling coking coal and coke, which is a processed form of coal used directly in steel furnaces. The company operates entirely in Poland but exports a significant share of its output to European steelmakers, giving it a revenue base tied closely to steel industry demand. The biggest risk JSW faces is that coking coal prices are highly volatile and have fallen sharply in recent years, which explains the company's deeply negative margins today — a trend that depends heavily on whether global steel production recovers.

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

-14.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+55.1% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

55.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 months

992M PLN cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Jastrzebska Spólka Weglowa S.A. has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

-14.0%

Thin — -14.0% gross margin

Profit after running costs

Operating Margin

-29.1%

Losing money on operations — -29.1%

Return on the money invested

ROCE

-61.2%

Weak — -61.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-12.6%

Shrinking sales (-12.6% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-33.9%

Burning cash (-33.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.75

Moderate — manageable debt (0.75)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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