Marvipol Development S.A.

MVP.WA

Real Estate - Development · Real Estate

Exchange

Warsaw Stock Exchange

Winston Score

Winston is serious

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

Good

Cash Flow

Weak

Stability

Good

Valuation

Good

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Winston Score History

The full picture

Marvipol Development is a Polish real estate company that builds and sells apartments and houses to individual buyers. It focuses on residential housing projects, primarily targeting middle-income homebuyers looking for new homes in major Polish cities. The company also has a smaller segment involved in developing logistics and warehouse properties.

Marvipol makes money by building residential units and selling them outright to buyers, which means revenue comes in large chunks when projects are completed and handed over. It operates almost entirely in Poland, with a market cap of roughly $0.4 billion, making it a small player even within the Polish market. The company's main competitive edge is its established brand and land bank in Poland's growing urban housing market. The key risk it faces is sensitivity to rising interest rates, which directly reduce how many Poles can afford a mortgage and therefore how many apartments Marvipol can sell.

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

-1.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+62.1% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

71.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

432M PLN cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

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

Revenue declining

Marvipol Development S.A.'s revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

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

15.1%

Thin — 15.1% gross margin

Profit after running costs

Operating Margin

-9.0%

Losing money on operations — -9.0%

Return on the money invested

ROCE

8.0%

Weak — 8.0% 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

+16.9%

Fast-growing sales (+16.9% YoY)

Profit growth

EPS YoY

+176.0%

Earnings growing fast (+176.0% 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

-17%

Weak — only -17% of profit becomes cash

Spare cash per sale

FCF Margin

-2.2%

Burning cash (-2.2%)

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

0.71

Moderate — manageable debt (0.71)

Covers its interest

Interest Cover

3.71x

Tight — interest eats into profit (3.7x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

5.3x

no trend

Attractive valuation — P/E 5.3

P/E under 10. The price tag is small relative to last year's profit.

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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