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LSI GPW Periodic report · PAP Biznes

LSI Software SA (LSI) · Q1 2026 results and valuation

Share price: 36.40 zł · 2026-11-10

Results Q1 2026 vs Q1 2025 · year over year · published 29 May 2026 and 30 May 2025

Net income up 131.5% year on year. The language turned more upbeat.

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

1 · Numbers

+131.5%

Net income vs Q1 2025

Net income 6.1M vs 2.6M

Revenue +47.8%

2 · How the report reads

More upbeat

Language tone vs last period

Report language: typical for a company report — more upbeat than in Q1 2025.

Weak signal: formal report language, not a call.

3 · What stood out

Rising

The company is taking actions to cancel a portion of its own shares repurchased under a buyback program, which affects calculations for earnings per…

Valuation

Is LSI Software 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 14.1% growth a year (3-year revenue growth), the model's fair value is 30.48 zł a share — the stock trades 19% above it. Today's price assumes 16.8% growth a year.

Current price

36.40 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.

+16.8% for 10 yrs

Fair value / share

30.48 zł

Buy below

22.86 zł

Price vs fair value

Overvalued 19%

Price vs buy-below price

Overvalued 59%

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: Q1 2026. Ring: Q1 2025.

Report language Typical (was restrained)

Typical for a company report — more upbeat than in Q1 2025. Periodic reports carry legally required risk wording, so their tone moves little and is a weak signal.

Sentences that drove the tone
“The observed increase in the Group's consolidated revenues had a positive impact on the growth of the generated gross profit margin on sales, which increased by 37% from 6,432 thousand.”
“Credit risk is defined as the risk of the Group incurring a financial loss in the event that a counterparty or the other party to a transaction fails to fulfill its contractual obligations.”
“A financial asset component is impaired due to credit risk if one or more events occur that have a negative impact on the estimated future cash flows associated with that component...”

Full figures

PLN · PAP Biznes report (2026-05-29)

Metric Q1 2026 Q1 2025 Change
Revenue 25.4M 17.2M +47.8%
Gross profit 10.2M 6.5M +56.6%
Operating income 6.1M 2.6M +131.7%
Net income 6.1M 2.6M +131.5%
P/E today 10.4 9.2 11.0 −1.8

Topics

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

Most discussed now

  • The Group's objective is to maintain a balance between continuity and flexibility of financing by utilizing various sources of financing…
  • The Group has an appropriate policy regarding making sales only to verified customers.

Faded since Q1 2025

  • Fading During the period between the balance sheet date and the date of preparation of these financial statements, no transactions occurred…
  • Fading In the sales structure, with respect to turnover value, there is one recipient of the Group's services and solutions whose share of sales…

Latest announcements

Official filings, newest first.

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