Korporacja KGL S.A.

KGL.WA

Chemicals - Specialty · Basic Materials

Price

11.20 PLN

-0.10 (-0.88%)

Market Cap

79.0M PLN

Exchange

Warsaw Stock Exchange

Winston Score

Winston is worried

Below-average fundamentals — multiple weak 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

Dividends

Good

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Winston Score History

The full picture

Korporacja KGL S.A. is a Polish specialty chemicals company that distributes and processes chemical raw materials. Its core business involves supplying plastics, rubber additives, and specialty chemicals to manufacturers in industries like automotive, construction, and packaging. The company operates primarily as a trading and distribution intermediary, connecting chemical producers with industrial customers across Poland and Central Europe.

KGL earns revenue by buying chemical materials in bulk and reselling them to industrial clients, earning a margin on each transaction. The company is relatively small, with a market capitalization around $0.1 billion, and operates mainly in Poland with some regional reach. Its thin gross margin of roughly 13% and slightly negative operating margin highlight the challenge of competing in a low-margin distribution business where scale and supplier relationships matter most. The key risk facing KGL is margin pressure from larger European chemical distributors, rising input costs, and limited pricing power in a commoditized market.

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

+11.8% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+122.4% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

231,000 PLN/ year

↓ Declining (-87% vs prior year)

0.0% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

87.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

9M PLN cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Growth + cash flow

Korporacja KGL S.A. is a rare growth stock that's already generating positive cash flow while growing at 12%. 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.

Share count broadly stable

−0.3% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 7.1M (2021) → 7.1M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

16.3%

Thin — 16.3% gross margin

Profit after running costs

Operating Margin

3.1%

Thin — 3.1% operating margin

Return on the money invested

ROCE

-0.2%

Weak — -0.2% 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

+3.3%

Slow sales growth (+3.3% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

1/8 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

5.5%

Thin free cash flow (5.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.49

Conservative — low debt load (0.49)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

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

Dividend

Dividend Yield

8.93%

Healthy income — 8.93% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

N/A

Data not available

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