Spyrosoft Spólka Akcyjna

SPR.WA

Software - Application · Technology

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

Good

Growth

Strong

Cash Flow

Strong

Stability

Good

Valuation

Good

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Winston Score History

The full picture

Spyrosoft is a Polish software engineering company that builds custom technology solutions for businesses across Europe and beyond. It focuses on areas like embedded systems, digital transformation, and software development for industries such as automotive, healthcare, and financial services. Founded in 2016 and headquartered in Wrocław, Poland, it has grown quickly into one of the faster-expanding IT services firms in Central Europe.

The company makes money by charging clients for software engineering work, typically through project-based contracts or longer-term service agreements with corporate customers. It operates mainly in Western Europe, with the United Kingdom and Germany being key markets, while keeping its delivery teams based in Poland where engineering talent is relatively affordable — a cost advantage that supports its margins. Its main growth driver is demand for outsourced software development across Europe, but its main risk is competition from larger global IT services firms and wage inflation in the Polish tech labor market, which could squeeze profitability over time.

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

+12.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+11.2% YoY

YoY Growth Rate

Steady EPS growth

Insider Activity

50.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 years

88M PLN cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

88M PLN cash & investments at current burn rate

Growth context

Spyrosoft Spólka Akcyjna is growing revenue at 12% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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

33.7%

Modest — 33.7% gross margin

Profit after running costs

Operating Margin

10.4%

Modest — 10.4% operating margin

Return on the money invested

ROCE

34.2%

Exceptional — 34.2% 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

+23.6%

Fast-growing sales (+23.6% YoY)

Profit growth

EPS YoY

+4.5%

Modest earnings growth (+4.5% YoY)

Single-digit earnings growth — steady but not exciting.

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

112%

Turns 112% of profit into real cash

Spare cash per sale

FCF Margin

6.8%

Modest free cash flow (6.8%)

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

0.05

Conservative — low debt load (0.05)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

10.9x

no trend

Attractive valuation — P/E 10.9

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

+0.9

GROWING

Earnings roughly flat

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Dividends

Not applicable for this business.

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