Wirtualna Polska Holding S.A.

WPL.WA

Software - Infrastructure · Technology

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

Mixed

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Winston Score History

The full picture

Wirtualna Polska Holding is one of Poland's largest internet companies. It runs a popular web portal called Wirtualna Polska (wp.pl), which offers news, email, weather, and entertainment to millions of Polish internet users every day. The company also owns a travel booking platform called Wakacje.pl and several other online services across e-commerce, classifieds, and digital media.

The company makes most of its money from online advertising sold across its network of websites, plus commissions from travel and e-commerce transactions. It operates almost entirely in Poland, making it heavily tied to the health of the Polish digital advertising market. Its large audience and portfolio of well-known local brands give it a strong position against smaller Polish competitors, though it faces pressure from global platforms like Google and Meta that compete for the same advertising budgets. The key risk is that continued growth in ad spending by global tech giants could squeeze Wirtualna Polska's share of the Polish digital ad market 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

+49.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-267.6% YoY

YoY Growth Rate

Earnings declining

Insider Activity

38.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

566M PLN cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

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

Revenue accelerating

Wirtualna Polska Holding S.A. grew revenue 49% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

6.2%

Thin — 6.2% gross margin

Profit after running costs

Operating Margin

4.2%

Thin — 4.2% operating margin

Return on the money invested

ROCE

10.4%

Below par — 10.4% 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

+50.7%

Fast-growing sales (+50.7% YoY)

Profit growth

EPS YoY

-140.7%

Earnings shrinking (-140.7% 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

10.8%

Modest free cash flow (10.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

2.03

Heavy debt load (2.03)

Covers its interest

Interest Cover

2.25x

Tight — interest eats into profit (2.3x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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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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