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    Industrial services

  3. •

    Engineering & construction
Mostostal Zabrze SA

Mostostal Zabrze SA

GGPW:MSZ
6.70
PLN
+0.08
(+1.21%)
0.43EPS
11.50P/E
432.76MMarket Cap
Nov 05Next Earn
Mostostal Zabrze SA
GPW:MSZ
(Warsaw Stock Exchange)

Recent

price

6.70

P/E

ratio

11.50

div

yld

0.32%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
PLN
11.95
9.83
8.7
7.71
11.57
10.19
10.08
8.72
8.25
8.07
8.27
10.3
15.72
18.21
14.21
17.83
20.33
Revenue per Share
0.09
0.37
-0.15
0.1
0.25
0.03
-0.31
-1.08
0.15
0.14
0.14
0.2
0.43
1
0.87
0.55
0.57
Basic EPS, GAAP
0.18
-1.56
-0.02
-0.44
0.42
0.05
-0.4
-0.38
-0.41
0.1
-0.05
0.3
0.79
1.78
1.07
0.79
0.38
Free Cash Flow per Basic Share
0.03
0.06
0.02
- -
- -
0.11
- -
- -
- -
0.01
- -
- -
0.01
0.01
0.02
0.01
0.02
Dividend per Share
3.02
3.24
3.07
3.29
3.51
3.4
3.08
1.98
2.09
2.21
2.32
2.56
3.04
3.91
4.55
5.09
5.05
Book Value per Share
2.99
3.21
3.04
3.26
3.48
3.37
3.06
1.96
2.06
2.17
2.27
2.51
2.99
3.87
4.47
5.02
4.97
Tangible Book Value per Share
75
75
75
75
75
75
75
75
75
75
75
75
75
74
71
69
67
Basic Weighted Avg Shares
891
733
649
575
863
760
752
650
615
601
617
768
1,172
1,351
1,010
1,224
1,353
Sales/Revenue/Turnover
1.63
2.42
-1.55
2.88
3.54
1.66
-1.76
-13.29
3.6
2.91
4.6
4.15
5.18
6.97
5.39
3.51
3.04
Operating Margin (%)
21
21
17
14
14
14
14
13
12
13
13
12
13
17
19
23
24
Depreciation Expense
7
28
-11
7
19
2
-23
-80
11
10
10
15
32
74
62
38
38
Net Income, GAAP
31.79
16.15
- -
- -
29.09
36.62
- -
- -
27.97
36.67
36.74
33.74
40.11
24.41
17.83
31.38
35.11
Effective Tax Rate (%)
0.75
3.8
-1.76
1.26
2.16
0.25
-3.03
-12.36
1.8
1.68
1.65
1.91
2.73
5.51
6.12
3.11
2.82
Profit Margin (%)
49
55
50
78
144
141
73
-21
38
70
78
92
104
85
71
108
54
Working Capital
9
18
8
17
17
19
7
4
11
17
16
13
15
19
23
18
17
LT Debt
246
263
251
266
275
265
233
150
158
167
175
193
230
290
375
408
383
Total Equity
3.65
12.99
- -
- -
7.36
1.73
- -
- -
7.9
5.93
7.09
9.13
13.94
22.28
16.59
6.71
5.51
Return on Invested Capital (%)
1.88
9
- -
- -
6.52
0.82
- -
- -
6.7
5.66
5.1
6.73
13.29
25.9
17.48
10.74
11.23
Return on Capital (%)
2.87
11.93
-4.87
3.06
7.36
0.74
-9.43
-42.54
7.29
6.29
6.03
8.06
15.31
29
20.65
11.5
11.56
Return on Common Equity (%)

Capital Structure

PLN

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
36
55
74
LT Borrowings
- -
- -
- -
LT Finance Leases
18
18
17
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
69
69
66
Market Capitalization
433
392
433

Working Capital

PLN

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
618
684
645
Cash, Cash Equivalents & STI
181
103
90
Accounts Receivable, Net
202
282
234
Inventories
83
91
111
Total Current Liabilities
510
591
591
Payables & Accruals
- -
- -
- -
ST Debt
36
55
74
Deferred Revenue
- -
- -
- -

Growth Rates

PLN

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.15%
18.76%
8.75%
Free Cash Flow
-161.74%
-97.13%
-29.3%
Net Income, GAAP
-93.18%
47.89%
-38.46%
Sales/Revenue/Turnover
6.88%
17.67%
21.2%
Total Cash Common Dividend
- -
- -
-26.9%

Quarterly Revenue

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
232
223
249
307
1,010
2025
239
266
332
387
1,224
2026
316
318
- -
- -
- -

Quarterly Earnings Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.17
0.09
0.5
0.13
0.87
2025
0.13
0.14
0.15
0.14
0.55
2026
0.16
0.12
- -
- -
- -

Quarterly Dividends Per Share

PLN

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.02
- -
- -
0.02
2025
- -
0.01
- -
- -
0.01
2026
- -
0.02
- -
- -
- -
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Business
Mostostal Zabrze S.A. is a Polish industrial group specializing in design, production, construction, and assembly services primarily for the chemical and petrochemical industry, metallurgy, energy, environmental protection, and general construction sectors. The company manufactures structural steelworks and machinery constructions, including radio and television masts and towers, ski lifts, cableways, aluminum elements such as curtain walls, windows, and doors, as well as commercial halls and pavilions. It also provides specialized services such as design, galvanizing of steel structures, transport and lifting equipment, and training. The Group operates mainly in Poland and exports significantly to Western Europe. It serves heavy industry sectors including iron, steel and non-ferrous metals, glass production, cement plants, building materials, automotive, and pulp and paper industries. The company also has subsidiaries focused on mechanical steel structures for crane and rail vehicles and electrical power facilities, offering design, installation, commissioning, and maintenance services for electric networks in industrial and municipal sectors. Founded in 1945 and headquartered in Zabrze, Poland, Mostostal Zabrze S.A. is listed on the Warsaw Stock Exchange under the ticker MSZ.WA. In terms of recent major developments, Mostostal Zabrze has actively expanded its contract portfolio with significant new deals including a 27 million PLN agreement for road system expansion with the City of Gliwice and contracts for infrastructure projects with clinical and university institutions in Poland. The company has reported a strong order backlog exceeding 1.57 billion PLN as of 2025. It has engaged in strategic capital management including share buyback programs and is pursuing acquisition opportunities, notably negotiating to acquire shares in Polwax for around 30.8 million PLN and progressing acquisition processes for Stalmech, a steel manufacturing plant. Mostostal Zabrze continues to focus on growth through consortium deals in reclamation and sustainable energy projects, enhancing its industrial and environmental service offerings. The company posted solid financial results in 2025 reflecting ongoing operational profitability amid expanding project activity, reinforcing its position in the Central European heavy industrial construction and engineering market.