Stalprodukt S.A.

STP.WA

Steel · Basic Materials

Price

223.00 PLN

+0.00 (+0.00%)

Market Cap

1.13B PLN

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

Good

Valuation

Data not available

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Share count falling — buybacks

−8.8% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 5.6M (2021) → 5.1M (2025)

Winston Score History

The full picture

Stalprodukt S.A. is a Polish industrial company that makes steel products, mainly cold-rolled and coated steel strips and sheets. These materials are sold to manufacturers in industries like automotive, construction, and household appliances. The company is one of Poland's largest domestic steel processors and also produces transformers and transformer components, giving it an unusually broad product mix for a steel business.

Stalprodukt earns money by selling processed steel products and electrical equipment, primarily to industrial customers across Poland and Central Europe. The company operates mainly in its home market, with some export sales, and its scale in Polish steel processing gives it a degree of local market presence. However, the current negative operating and return margins highlight the core risk facing the business: steel processing is a low-margin, commodity-driven industry, and Stalprodukt is highly exposed to swings in raw material costs and weak demand from key end markets like automotive manufacturing.

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

-13.9% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-49.2% YoY

YoY Growth Rate

Earnings declining

R&D Spend

0 PLN/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

66.5%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~17 months

864M PLN cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Revenue declining

Stalprodukt 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.

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

4.2%

Thin — 4.2% gross margin

Profit after running costs

Operating Margin

-3.1%

Losing money on operations — -3.1%

Return on the money invested

ROCE

-1.9%

Weak — -1.9% 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

-9.4%

Shrinking sales (-9.4% YoY)

Profit growth

EPS YoY

-215.1%

Earnings shrinking (-215.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

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

-5.3%

Burning cash (-5.3%)

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

0.00

Conservative — low debt load (0.00)

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

Not applicable for this business.

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