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Apator S.A.

Apator S.A.

APT.WA
Apator S.A.PL flagWarsaw Stock Exchange
27.10
PLN
+0.30
- -
787.18MMarket Cap
Apator S.A.
APT.WA
(Warsaw Stock Exchange)

Recent

price

27.10

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
14.11
18.2
22.67
23.15
24.57
26.04
28.51
29.93
28.11
30
32.01
32.22
37.21
39.15
42.27
41.39
43.08
Revenue per Share
1.15
1.74
3.22
2.28
2.84
2.04
1.93
1.44
2.3
1.83
2.06
2.13
0.23
0.28
2.52
2.72
3
Basic EPS, GAAP
0.66
0.16
2.36
0.63
2.15
0.67
0.76
3.29
1.59
2.12
1.78
-2.07
1.79
3.72
5.14
4.05
3.84
Free Cash Flow per Basic Share
0.6
0.43
1.24
1.41
0.63
0.8
1.1
1.12
1.26
1.37
1.13
0.77
0.51
0.5
0.6
0.6
0.01
Dividend per Share
2.01
2.54
3.73
3.39
3.93
3.4
2.94
0.93
0.96
0.16
-0.14
-0.13
-0.89
-2.39
0.41
0.91
1.6
Book Value per Share
4.74
5.7
7.76
8.63
8.57
7.48
7.95
8.25
8.88
9.36
9.9
10.9
10.7
11.16
13.22
15.21
15.8
Tangible Book Value per Share
29
30
30
30
30
30
30
30
29
29
29
29
29
29
29
29
29
Basic Weighted Avg Shares
409
537
669
683
725
769
841
883
828
878
935
940
1,082
1,137
1,228
1,202
1,251
Sales/Revenue/Turnover
10.92
13.37
11.58
12.47
13.73
9.82
8.04
7.22
11.25
8.73
8.25
5.72
4.12
4.89
7.21
6.19
7.94
Operating Margin (%)
15
17
18
21
24
31
35
39
42
50
53
56
56
56
57
69
71
Depreciation Expense
33
51
95
67
84
60
57
43
68
53
60
62
7
8
73
79
87
Net Income, GAAP
19.73
19.87
- -
17.29
19.61
19.72
9.38
27
24.56
25.17
24.02
25.7
54.73
69.13
10.52
1.38
3.36
Effective Tax Rate (%)
8.15
9.55
14.19
9.86
11.56
7.82
6.75
4.82
8.19
6.09
6.44
6.62
0.61
0.72
5.95
6.58
6.96
Profit Margin (%)
83
87
96
92
134
118
89
60
72
78
67
94
56
128
158
169
190
Working Capital
25
24
15
11
74
83
61
38
30
37
27
56
36
67
54
48
45
LT Debt
202
236
300
325
388
420
443
455
477
493
518
551
539
539
593
652
673
Total Equity
14.08
19.13
- -
18.24
16.38
10.06
9.53
7.13
10.72
8.46
8.44
5.29
2.44
2.1
10.16
9.26
11.96
Return on Invested Capital (%)
26.63
37.95
- -
41.17
38.31
20.85
20.32
17.82
32.98
27.46
33.34
31.16
5.35
6.17
48.04
51.63
55.01
Return on Capital (%)
63.63
77.01
102.64
64.1
77.57
55.58
60.81
74.55
242.81
322.69
- -
- -
- -
- -
- -
413.23
247.74
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
114
90
89
LT Borrowings
21
20
18
LT Finance Leases
30
29
26
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
29
29
29
Market Capitalization
719
674
647

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
505
500
532
Cash, Cash Equivalents & STI
23
21
29
Accounts Receivable, Net
186
203
225
Inventories
263
252
246
Total Current Liabilities
336
331
342
Payables & Accruals
- -
- -
- -
ST Debt
114
90
89
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.57%
4.84%
9.98%
Free Cash Flow
3.18%
-55.73%
-21.12%
Net Income, GAAP
76.32%
148.59%
8.27%
Sales/Revenue/Turnover
4.73%
5.32%
-2.12%
Total Cash Common Dividend
-0.56%
-9.52%
0.42%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
296
338
293
301
1,228
2025
284
286
296
336
1,202
2026
333
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.41
0.91
0.6
0.6
2.52
2025
0.41
0.61
0.8
0.9
2.72
2026
0.69
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
0.3
0.6
2025
- -
- -
- -
0.01
0.6
2026
- -
- -
- -
- -
- -
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Business
Apator S.A. manufactures and sells metering devices and systems for electricity, water, heat, and gas sectors; provides advanced solutions supporting the operation of utility networks, including smart meters, remote reading systems, automation for power grid management, and technologies for renewable energy integration in local energy systems. The company operates through three specialized segments—Electricity, Water & Heat, and Gas—offering products such as electronic, smart, induction, and RES electricity meters; water meters, heat meters, flow sensors, and heating cost allocators; household and industrial gas meters; installation fittings; protection equipment against short circuits and overloads; ICT systems for data acquisition and asset management; 4GRID Engine for high-efficiency system integration; and GISMO for lighting infrastructure management, primarily targeting utilities, energy distributors, and industrial customers across Europe with manufacturing in Poland and sales offices in Germany, the UK, Czech Republic, and other regions. Founded in 1949 and headquartered in Toruń, Poland, with operational relocation to a modern production center in Ostaszewo near Toruń, Apator S.A. leads as an international capital group, incorporating subsidiaries like Apator Metrix in Tczew for gas metering, Apator Powogaz for water solutions, and Apator Elkomtech for energy transmission systems, while holding a strong position in the European modern energy market. Recent developments include the incorporation of Apator Elkomtech into Apator S.A.'s structure; announcement in August 2024 of intent to merge with 100%-owned subsidiary Fabryka Aparatury Pomiarowej PAFAL S.A. (roots to 1897), planned for January 2026 under simplified procedure; subsequent decision in September 2025 to liquidate FAP PAFAL S.A. due to revenue loss and market prospects, enabling cost optimization and focus on core projects (less than 2% of 2024 Group revenues); and new Management Board appointments in June 2025, with Maciej Wyczesany as President and CEO and Łukasz Zaworski as Chief Product Officer, driving product strategy and development.