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DIG GPW sWIG80 Periodic report · PAP Biznes

Digital Network SA (DIG) · Q2 2026 results and valuation

Share price: 292.00 zł · 2026-11-10

Results Q2 2026 vs Q2 2025 · year over year · published 15 Sep 2026 and 17 Sep 2025

Operating income up 151.4% year on year. The report's language is unchanged.

Only a basic analysis is available for this company at the moment.

1 · Numbers

+151.4%

Operating income vs Q2 2025

Operating income 38.5M vs 15.3M

Revenue +189.2%

2 · How the report reads

Unchanged

Language tone vs last period

Report language: upbeat for a company report — about as upbeat as in Q2 2025.

Weak signal: formal report language, not a call.

3 · What stood out

In Q2 2026, Digital Network SA reported revenue of PLN 103.7 million, operating income of PLN 38.5 million, and net income of PLN 20.6 million.

Valuation

Is Digital Network SA 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 20.0% growth a year (3-year revenue growth), the model's fair value is 301.15 zł a share — the stock trades 3% below it. Today's price assumes 19.6% growth a year.

Current price

292.00 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.

+19.6% for 10 yrs

Fair value / share

301.15 zł

Buy below

225.86 zł

Price vs fair value

Undervalued 3%

Price vs buy-below price

Overvalued 29%

Official channels

The company's own website and social media accounts.

Read between the lines

No major shifts flagged this period.

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: Q2 2026. Ring: Q2 2025.

Report language Upbeat (was very upbeat)

Upbeat for a company report — about as upbeat as in Q2 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.

Sentences that drove the tone
“Despite the high resilience of the Issuer's business model to macroeconomic factors, there is a risk of the occurrence of factors beyond the Issuer's control, which may cause volatility and uncertainty in business conditions...”
“In the longer term, this may result in a slowdown in the growth of the advertising market in Poland, which in turn could have a negative impact on advertisers' willingness to purchase advertising space on media.”
“These changes, in particular those affecting the operation of the new technologies and advertising services market, may also have an adverse impact on the Issuer's activities.”

Full figures

PLN · PAP Biznes report (2026-09-15)

Metric Q2 2026 Q2 2025 Change
Revenue 103.7M 35.9M +189.2%
Gross profit 51.0M 20.3M +150.7%
Operating income 38.5M 15.3M +151.4%
Net income 20.6M 97.1K +21088.9%
EPS 4.67 —
P/E today 40.6 41.4 18.9 +22.5

Topics

Topics are drawn from the full report text, not management commentary.

Most discussed now

  • Description of other factors and events, in particular of an unusual nature, that had an impact on the financial results and the Company's…
  • On August 27, 2026, the Issuer's Management Board announced a new Dividend Policy, the principles of which were described in detail in…
  • After registering the increase in the Company's share capital, the holding status of Epicom Ltd.
  • For many years, this revenue generation model has provided the Issuer with stable growth in sales and profits thanks to a steadily growing…
  • During the reporting period, the focus was on the implementation of the strategy of selectively activating digital screens in prime…

Faded since Q2 2025

  • Fading 2.2 Description of other factors and events, in particular of an unusual nature, that influenced the financial results and the share price…
  • Fading The carrying amount of financial instruments does not deviate from the fair value.
  • Fading According to the cited forecast, the main factors supporting the growth of DOOH in the Digital Out segment according to the report's…
  • Fading The annual economic growth forecast (GDP) at 3.4-3.6%, confirmed by similar readings in the first half of the year, expected growth in…

Latest announcements

Official filings, newest first.

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