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IZS GPW Periodic report · PAP Biznes

Izostal SA (IZS) · Q2 2026 results and valuation

Share price: 2.77 zł · 2026-11-10

Results Q2 2026 vs Q2 2025 · year over year · published 21 Aug 2026 and 21 Aug 2025

Net income up 153.2% year on year. The report's language is unchanged.

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

1 · Numbers

+153.2%

Net income vs Q2 2025

Net income 20.9M vs 8.3M

Revenue −49.5%

2 · How the report reads

Unchanged

Language tone vs last period

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

Weak signal: formal report language, not a call.

3 · What stood out

The project including the pipeline, pumping stations, and new dedicated fuel warehouses is estimated at 20 billion PLN.

Valuation

Is Izostal 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 1.7% growth a year (3-year revenue growth), the model's fair value is 1.41 zł a share — the stock trades 97% above it. Today's price assumes 4.7% growth a year.

Current price

2.77 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.

+4.7% for 10 yrs

Fair value / share

1.41 zł

Buy below

1.05 zł

Price vs fair value

Overvalued 97%

Price vs buy-below price

Overvalued 163%

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 Typical (was typical)

Typical 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
“The greatest impact on the reduction in revenue was the lower sales intended for OGP Gaz-”
“The conflict in the Middle East may translate into the Capital Group's operating costs through sustained increases in oil prices, and consequently, petroleum-based materials (including polyethylene, polypropylene) and fluctuations...”
“The amount of all write-downs of inventory to its net realizable value and all losses in inventory are recognized as an expense in the period in which the write-down or losses occurred.”

Full figures

PLN · PAP Biznes report (2026-08-21)

Metric Q2 2026 Q2 2025 Change
Revenue 355.0M 703.1M −49.5%
Gross profit 59.5M 30.2M +97.4%
Operating income 10.8M 19.1M −43.7%
Net income 20.9M 8.3M +153.2%
P/E today 7.8 7.9 9.2 −1.3

Topics

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

Most discussed now

  • (Infrastructure) including anti-corrosion insulation services for steel pipes and the sale of insulated pipes and other products, goods…
  • Total infrastructure steel infrastructure share in total revenue share in gross profit from total sales
  • The Capital Group companies recognize write-downs for all receivables for which collectability is uncertain.
  • Sales mainly concerned goods, insulated pipes, and real estate rental services in Zabrze, ul.
  • The conflict in the Middle East may translate into operating costs for the Capital Group due to sustained increases in oil prices, and…

Faded since Q2 2025

  • Fading The Group determines the classification of its financial assets at their initial recognition.
  • Fading Sales revenue by primary product categories:
  • Fading The main recipients of services and goods exported in the first half of 2025 were companies from countries belonging to the European Union.

Latest announcements

Official filings, newest first.

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