ASE GPW mWIG40 Periodic report · PAP Biznes
Asseco SEE (ASE) · Q3 2026 results and valuation
Share price: 71.00 zł · 2026-11-10
Asseco SEE is a holding company and an IT service provider. It operates in the field of information technology and provides software solutions for business processes. Sources: Half-year report (2026-07-31) · Wikipedia
Results Q3 2026 vs Q3 2025 · year over year · published 26 Oct 2026 and 23 Oct 2025
Net income up 12.2% year on year. The report's language is unchanged.
1 · Numbers
+12.2%
Net income vs Q3 2025
Outlook given
Net income 61.9M vs 55.2M
Revenue +8.8%
Why Net income rose mainly because of a lower base effect, as the previous period included a one-off reversal of 4.1 million EUR of previously recognized but uninvoiced revenues from transaction processing services.
2 · How the report reads
Unchanged
Language tone vs last period
Report language: upbeat for a company report — about as upbeat as in Q3 2025.
Weak signal: formal report language, not a call.
3 · What stood out
The program involves 547,550 ASEE S.A. shares, which represent 1.06% of the company's capital.
Valuation
Is Asseco SEE undervalued?
Reverse DCF. Free cash flow from the last full fiscal year (2025-12-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At 4.7% growth a year (3-year revenue growth), the model's fair value is 50.07 zł a share — the stock trades 42% above it. Today's price assumes 9.8% growth a year.
Current price
71.00 zł
close of 2026-11-10
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+9.8% for 10 yrs
Fair value / share
50.07 zł
Buy below
37.55 zł
Price vs fair value
Overvalued 42%
Price vs buy-below price
Overvalued 89%
Read between the lines
-
Guidance
The management of Asseco South Eastern Europe S.A. did not publish financial results forecasts for 2026.
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q3 2026. Ring: Q3 2025.
Upbeat for a company report — about as upbeat as in Q3 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.
Sentences that drove the tone
“of Southeast Europe, where they increased by EUR 2.2 million, and Western Europe, where an increase of EUR 0.8 million was recorded.”
“Functioning systems, including integrated management structures and an efficient internal audit, effectively mitigate the negative impact of the risk factors and threats listed below on the operations of ASEE and the ASEE Group.”
Full figures
PLN · PAP Biznes report (2026-10-26)
| Metric | Q3 2026 | Q3 2025 | Change |
|---|---|---|---|
| Revenue | 475.8M | 437.2M | +8.8% |
| Gross profit | 149.8M | 106.5M | +40.6% |
| Operating income | 82.3M | 46.3M | +78.0% |
| Net income | 61.9M | 55.2M | +12.2% |
| EPS | 1.19 | 1.06 | +12.3% |
| P/E today 18.6 | 20.5 | 18.8 | +1.7 |
Topics
Topics are drawn from the full report text, not management commentary.
Most discussed now
- The structure of financial income for the 3 and 9 months ended September 30, 2026, and for the comparable period was as follows:
- The Group continues to assess the impact on the presentation of result items, cost classification, and disclosure requirements regarding…
- In 2025, large projects were implemented in Bosnia and Herzegovina delivered by the company responsible for solutions for the utilities…
Faded since Q3 2025
- Fading Gross profit from sales fell to EUR 25.0 million (a decrease of 8%), while net profit from sales fell to EUR 11.5 million (a decrease of…
- Fading In the interim condensed consolidated financial statements of the ASEE Group for the 9-month period ended September 30, 2026, the cost…
Latest announcements
Official filings, newest first. Summaries are generated from each filing and its attachment; every figure is checked against the source.
- Quarterly report · ESPI periodic · routine
- Porozumienie w sprawie rozwiązania umowy o atestację sprawozdawczości zrównoważonego rozwoju za rok obrotowy 2026 · ESPI 11/2026
The Management Board of Asseco South Eastern Europe S.A. announced the termination of the agreement with auditor BDO for the 2026 sustainability reporting assurance to exercise the right to opt out of preparing such reporting.
- Informacja o transakcjach w trybie art. 19 MAR · ESPI 10/2026
Piotr Jeleński Foundation Fundacja Rodzinna acquired 2104 shares at an average price of 75.81 PLN on 2026-09-25 and 26 shares at 74.9 PLN on 2026-09-24.
- Half-year report · ESPI periodic · routine
- Informacja o szacunkowych wybranych wynikach finansowych za I półrocze 2026 roku · ESPI 9/2026
Estimated sales revenue for the first half of 2026 was approximately PLN 871 million (+5%), and operating profit was approximately PLN 123 million (+24%) compared to the same period last year.
- Informacja o transakcjach w trybie art. 19 MAR · ESPI 8/2026
Ducha Family Foundation acquired 300 shares at 60.77 PLN on June 23, 2026, and 2403 shares at 60.22 PLN on June 24, 2026.
- Informacja o transakcjach w trybie art. 19 MAR · ESPI 7/2026
Nitka Fundacja Rodzinna w organizacji acquired 1140 shares of the Company at a total price of 60.63474 PLN on June 30, 2026.
- Wykaz akcjonariuszy posiadających co najmniej 5% liczby głosów na Zwyczajnym Walnym Zgromadzeniu · ESPI 6/2026 · routine