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SWG GPW Periodic report · PAP Biznes

Seco/Warwick SA (SWG) · Q1 2026 results and valuation

Share price: 33.00 zł · 2026-11-10

Results Q1 2026 vs Q1 2025 · year over year · published 14 May 2026 and 15 May 2025

Net income up 10.8% year on year. The report's language is unchanged.

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

1 · Numbers

+10.8%

Net income vs Q1 2025

Net income 6.1M vs 5.5M

Revenue −3.2%

2 · How the report reads

Unchanged

Language tone vs last period

Report language: typical for a company report — about as upbeat as in Q1 2025.

Weak signal: formal report language, not a call.

3 · What stood out Nothing unusual flagged this period.

Valuation

Is Seco/Warwick 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.

The projected cash flow doesn't cover the debt, so the price is far above the model's fair value.

Current price

33.00 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.

+46.2% for 10 yrs

Fair value / share

-4.34 zł

Buy below

-3.26 zł

Price vs fair value

n/a

Price vs buy-below price

n/a

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 typical)

Typical for a company report — about as upbeat as 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
“EBIT margin increased to 5.3% (+0.8 p.p.), and net profit amounted to 6.3 million PLN (+11% y/y).”
“Particularly satisfying is the dynamic growth of the Vacuum Furnaces segment, which recorded an increase of over 50% compared to the same period of the previous year.”

Full figures

PLN · PAP Biznes report (2026-05-14)

Metric Q1 2026 Q1 2025 Change
Revenue 180.9M 186.9M −3.2%
Gross profit 38.9M 38.2M +1.7%
Operating income 9.6M 8.4M +15.2%
Net income 6.1M 5.5M +10.8%
EPS 0.84 0.63 +33.3%
P/E today 8.9 9.5 9.6 −0.1

Topics

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

Most discussed now

  • Net profit attributable to ordinary shareholders, used to calculate diluted earnings per share
  • The potential impact of the war in Ukraine was described in more detail in point 2 of the remaining additional information to the report…
  • Items not to be reclassified to profit/(loss) in - - subsequent reporting periods:
  • The Management Board is actively monitoring the situation and implementing actions aimed at strengthening the competitive position in these…
  • A potential escalation of the conflict or the continued disruption of major trade routes, particularly in the Persian Gulf and Red Sea…

Faded since Q1 2025

  • Fading Main items of the interim condensed consolidated statement of financial position, statement of comprehensive income and statement of cash…
  • Dropped Income tax related to other comprehensive components -160,120 of income that will be reclassified to profit or loss

Latest announcements

Official filings, newest first.

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