1. Poland Stocks

  2. •

    Financial Services

  3. •

    Financial - Capital Markets
Inc. S.a.

Inc. S.a.

INC.WA
Inc. S.a.PL flagWarsaw Stock Exchange
1.50
PLN
+0.01
- -
22.31MMarket Cap
Inc. S.a.
INC.WA
(Warsaw Stock Exchange)

Recent

price

1.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
TTM
FRC
0.15
0.35
1.81
0.67
0.45
0.29
0.12
0.28
0.41
0.47
0.44
1.1
0.73
0.3
0.35
0.46
0.48
Revenue per Share
1.03
1.61
-2.98
-0.29
0.96
-1.33
0.06
-0.3
-0.41
-0.57
-0.09
0.99
0.45
-0.87
-0.57
-0.26
0.1
Basic EPS, GAAP
-0.01
-0.12
-0.18
-0.08
-0.09
-0.25
-0.21
-0.26
-0.7
-0.28
-0.29
-0.02
-0.32
-0.37
-0.26
0.37
0.05
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.03
0.03
0.01
0.15
- -
- -
- -
- -
Dividend per Share
2.94
3.61
-0.98
1.75
2.95
0.66
2.02
1.59
1.38
1.26
1.36
0.85
1.57
0.66
0.03
-0.18
-0.08
Book Value per Share
4.37
6.6
3.69
3.36
4.24
3.39
3.88
3.58
2.7
1.96
1.94
2.98
3.36
2.48
1.74
1.18
1.28
Tangible Book Value per Share
8
8
8
8
8
8
8
8
8
8
8
12
12
12
14
15
15
Basic Weighted Avg Shares
1
3
15
6
4
2
1
2
3
4
4
13
9
4
5
7
7
Sales/Revenue/Turnover
659.56
-57.5
-196.99
-68.4
152.82
-558.63
53.7
-21.18
14.95
-101.1
-11.02
31.65
8.22
-342.04
-206.81
-103.22
16.83
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1
- -
1
1
1
1
1
Depreciation Expense
8
13
-25
-2
8
-11
- -
-3
-3
-5
-1
12
5
-11
-8
-4
2
Net Income, GAAP
0.04
25.5
- -
- -
20.4
- -
49.63
- -
- -
- -
- -
20.16
10.84
- -
- -
- -
32.02
Effective Tax Rate (%)
681.6
455.26
-165.21
-42.73
216.16
-451.16
46.4
-109.45
-98.87
-121.71
-20.11
89.6
61.72
-293.17
-160.65
-55.03
21.55
Profit Margin (%)
33
59
29
26
36
26
31
28
20
16
17
35
41
30
22
14
16
Working Capital
- -
- -
- -
- -
- -
- -
- -
- -
1
1
1
- -
3
3
2
3
2
LT Debt
41
54
30
28
35
28
33
30
27
23
23
37
42
31
25
19
20
Total Equity
18.13
-2.58
- -
- -
14.17
- -
0.91
- -
- -
- -
- -
10.78
1.54
- -
- -
- -
3.58
Return on Invested Capital (%)
37.31
47.93
- -
- -
40.67
- -
4.88
- -
- -
- -
- -
44.81
14.72
- -
- -
- -
31.65
Return on Capital (%)
41.91
49.17
- -
- -
41.14
-73.41
4.33
-16.86
-27.49
-43.25
-6.78
110.25
37.18
-78.43
-186.51
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'25
Jun'25
Sep'25
ST Debt
1
- -
1
LT Borrowings
- -
- -
- -
LT Finance Leases
3
- -
2
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
15
- -
15
Market Capitalization
37
29
27

Working Capital

FRC

•

in mil. unless spec.
Mar'25
Jun'25
Sep'25
Total Current Assets
23
- -
19
Cash, Cash Equivalents & STI
21
- -
17
Accounts Receivable, Net
2
- -
2
Inventories
- -
- -
- -
Total Current Liabilities
4
- -
3
Payables & Accruals
- -
- -
- -
ST Debt
1
- -
1
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-1.42%
1.03%
-25.61%
Free Cash Flow
166.54%
308.37%
-254.07%
Net Income, GAAP
-287.2%
-426.39%
-51.05%
Sales/Revenue/Turnover
36.81%
49.31%
42.91%
Total Cash Common Dividend
- -
192.72%
14.29%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1
2
2
2
7
2025
3
- -
3
3
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.11
- -
0.01
- -
-0.26
2025
0.18
- -
-0.04
0.11
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
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Business
INC S.A. provides investment and advisory services to small and medium-sized enterprises and local government units in Poland. The company, formerly known as Investcon Group S.A., operates as an authorized advisor for NewConnect, Catalyst, and AeRO markets, facilitating fundraising, capital market investments, and comprehensive financial support through its group of five specialized entities offering advisory services, financial instruments, and direct investments. Core offerings include capital-raising advisory for public offerings and debuts on alternative markets such as NewConnect; investment brokerage via Dom Maklerski INC S.A.; and support for innovative SMEs in sectors like automotive, gaming, and business services, with notable completed debuts for companies including Green Zebras S.A., Mentzen S.A., B-ACT S.A., and SPACE FOX GAMES S.A.. Founded in 1995 and headquartered at ul. Abpa A. Baraniaka 6 in Poznań, Poland, the group targets dynamic Polish enterprises seeking competitive advantages and growth funding, with operations centered on the domestic capital market. As a publicly listed entity on the Warsaw Stock Exchange since 2006 under ticker INC.WA, INC S.A. continues to expand its advisory competencies without reported major acquisitions, funding rounds, or strategic shifts in the last 1-2 years.