1. Poland Stocks

  2. •

    Consumer Cyclical

  3. •

    Apparel - Manufacturers
VRG S.A.

VRG S.A.

VRG.WA
VRG S.A.PL flagWarsaw Stock Exchange
5.18
PLN
-0.04
- -
1.21BMarket Cap
VRG S.A.
VRG.WA
(Warsaw Stock Exchange)

Recent

price

5.18

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
2.74
3.44
3.34
2.73
2.55
2.95
3.4
3.85
4.34
4.56
3.64
4.56
5.43
5.55
5.86
6.42
6.56
Revenue per Share
-0.01
- -
0.1
0.31
0.12
0.15
0.2
0.24
0.29
0.27
-0.17
0.28
0.4
0.43
0.37
0.42
0.39
Basic EPS, GAAP
0.02
-0.06
-0.07
0.07
0.04
0.06
-0.08
0.03
0.18
0.35
0.54
0.74
0.62
0.73
0.22
0.89
0.91
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.17
0.2
0.09
- -
- -
Dividend per Share
0.21
2.6
2.73
2.75
2.42
2.54
2.73
2.96
4.26
3.62
3.45
3.73
3.96
4.19
4.47
4.88
4.79
Book Value per Share
-0.58
-0.51
-0.23
0.35
0.41
0.55
0.78
1.03
1.6
1.55
1.38
1.66
1.88
2.12
2.4
2.82
2.3
Tangible Book Value per Share
113
113
118
146
174
174
176
179
186
234
234
234
234
234
234
234
239
Basic Weighted Avg Shares
309
388
396
398
443
514
599
689
806
1,068
854
1,070
1,274
1,302
1,375
1,505
1,568
Sales/Revenue/Turnover
6.17
5.47
5.49
8.54
8.31
8.45
8.53
9.22
8.96
8.15
-4.27
9.86
10.99
8.69
8.58
9.89
9.79
Operating Margin (%)
15
14
12
11
11
13
14
16
17
111
110
104
110
127
134
136
140
Depreciation Expense
-1
- -
12
45
20
25
35
43
54
64
-40
66
93
102
87
98
92
Net Income, GAAP
- -
99.59
- -
17.34
20.3
21.11
20.83
21.42
18.49
19.36
- -
20.67
20.98
21.35
21.72
20.19
21.27
Effective Tax Rate (%)
-0.26
- -
3.1
11.33
4.57
4.93
5.88
6.28
6.65
5.99
-4.68
6.2
7.3
7.82
6.32
6.53
5.87
Profit Margin (%)
39
46
63
109
120
129
161
202
211
260
233
294
319
312
361
449
395
Working Capital
178
170
149
119
108
100
94
84
297
242
306
271
221
182
204
218
338
LT Debt
295
303
333
410
431
453
494
542
805
863
823
890
943
998
1,063
1,162
1,161
Total Equity
- -
0.02
- -
5.36
5.41
6.13
6.8
7.71
6.21
5.67
- -
6.47
8.36
6.67
6.55
7.82
7.47
Return on Invested Capital (%)
- -
0.02
- -
10.54
4.94
5.43
6.78
7.57
6.27
5.94
- -
5.76
7.94
8.56
7.36
7.85
6.8
Return on Capital (%)
-0.51
- -
3.99
12.47
4.95
5.88
7.62
8.55
8.12
7.8
-4.82
7.87
10.31
10.64
8.55
8.96
8.37
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
250
140
215
LT Borrowings
- -
- -
84
LT Finance Leases
218
218
254
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
234
234
234
Market Capitalization
1,102
1,056
1,109

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
823
851
824
Cash, Cash Equivalents & STI
14
67
30
Accounts Receivable, Net
26
9
25
Inventories
783
764
769
Total Current Liabilities
423
402
429
Payables & Accruals
- -
- -
- -
ST Debt
250
140
215
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.54%
7.13%
9.25%
Free Cash Flow
57.6%
55.13%
306.81%
Net Income, GAAP
-27.54%
-43.59%
13.08%
Sales/Revenue/Turnover
12.26%
12.33%
9.44%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
278
341
311
445
1,375
2025
294
378
346
488
1,505
2026
356
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
0.12
0.04
- -
0.37
2025
0.03
0.12
0.05
- -
0.42
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.09
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
VRG S.A. designs, manufactures, distributes, and retails high-quality apparel for men and women as well as jewelry through its apparel and jewelry segments; it offers men's fashion including classical and avant-garde jackets, suits, trousers, modern knitwear, coats, polo shirts, silk and bow ties, cufflinks, and accessories under the Vistula, Bytom, and Wólczanka brands, women's clothing comprising suits, jackets, jeans, shirts, sweaters, t-shirts, coats, dresses, skirts, trousers, and blouses under the Deni Cler Milano brand, and gold, platinum, diamond, and precious stone jewelry, watches from brands such as Rolex, Omega, and Tag Heuer, and gift cards under the W.KRUK brand; the company also provides franchise services, operates retail and online stores, and engages in real estate rental and management. VRG S.A. (formerly Vistula Group S.A.) operates primarily in Poland with a retail network of approximately 496 stores totaling 50,000 square meters, and distributes products in Hungary, the Eurozone, and the United States. Founded in 1948 and headquartered in Kraków, Poland, the company lists on the Warsaw Stock Exchange and follows a "House of Brands" strategy with outsourced production. In July 2025, VRG S.A.'s subsidiary W.KRUK S.A. signed a preliminary agreement to acquire the Lilou Group—including Lilou sp. z o.o., Lilou Online Shop, Lilou Retail, Logistics Retail, and related entities—for PLN 105 million plus up to PLN 30 million earn-out, pending antitrust approval from the President of the Office of Competition and Consumer Protection and subject to final agreement within 10 months; this transaction supports VRG's growth through complementary jewelry brand acquisitions.