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XTB S.A. (XTB.WA)

PLN129.92 +1.78 (+1.39%)
PL WSE Financial Services Financial - Capital Markets
Address Prosta 67 00-838
Warsaw, PL
CEO Omar Arnaout
Website xtb.com
IPO 2016-05-06
ISIN PLXTRDM00011

Explore sections of this company profile

Also trades on Stuttgart Stock Exchange · 9PR.SG (EUR) Warsaw Stock Exchange · XTB.WA (PLN)
Description

XTB S.A., along with its affiliated entities, offers extensive brokerage solutions for a diverse range of financial products, including currency derivatives, commodities, market indices, stocks, and bonds. Its geographical footprint covers Central and Eastern Europe, Western Europe, and Latin America. The company structures its operations into two main divisions: Retail Operations, serving individual traders, and Institutional Activity, for corporate clients. Both segments access XTB's offerings through proprietary trading platforms like xStation 5 and xStation mobile, in addition to the popular MetaTrader 4. Beyond direct brokerage, XTB provides investment advisory services, facilitates derivatives trading and intermediation, and supplies trading infrastructure for other businesses to offer financial instrument trading under their own branding. Established in 2002 as X-Trade Brokers Dom Maklerski S.A., the firm is headquartered in Warsaw, Poland, and functions as a subsidiary of XXZW Investment Group S.A.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
PLN129.92 +1.78 (+1.39%)
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Volume Profile
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Liquidity & share structure
Average Volume
443.8K
Beta
0.16
Float Shares
65.95M
Free Float %
56.1%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+1.34% +6.10% -0.16% +22.28% +57.48% +50.27% +25.11% +191.80% +549.59% +748.46% +815.35%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
129.92
DCF (Unlevered) 818.19 +529.8%
DCF (Levered) 766.41 +489.9%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 100% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 2 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
2.99
Safe zone
Piotroski F-Score
5 / 9
Average
MOAT Score
6 / 10
Developing
Composite Rating
C
Overall Score
2 / 5
Medium
DCF Score
5 / 5
High
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Financial - Capital Markets: +19.7%
    +8.7% Q1'26: +83.9% (vs Q1'25)
  • EPS growth Financial - Capital Markets: +35.3%
    -24.8% Q1'26: +175.8% (vs Q1'25)
  • FCF margin FCF growth · Financial - Capital Markets: +29.5%
    +141.0% Q1'26: +66.8% (vs Q1'25)
  • EBIT margin Financial - Capital Markets: +33.5%
    +38.9% Q1'26: +60.4% (vs Q1'25)
  • ROIC Financial - Capital Markets: +4.0%
    Q1'26: -990.4% (vs Q1'25)
  • Share dilution Financial - Capital Markets: +0.0%
    +0.0% Q1'26: 0.0% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Financial - Capital Markets: -0.30×
    0.03× Q1'26: 0.01× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.69) × ERP
WACC = 100% × Ke + 0% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 816.60 Current price: 129.92
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
1 Rev. Ana.
1 EPS Ana.
Dec 2027
2 Rev. Ana.
1 EPS Ana.
Dec 2028
1 Rev. Ana.
1 EPS Ana.
Dec 2029
1 Rev. Ana.
1 EPS Ana.
Dec 2030
1 Rev. Ana.
1 EPS Ana.
Revenue
266.11M
est: 250.74M (+6.1%)
288.29M
est: 306.71M (-6.0%)
289.59M
est: 297.20M (-2.6%)
239.94M
est: 197.60M (+21.4%)
803.27M
est: 683.00M (+17.6%)
641.87M
est: 558.00M (+15.0%)
1.48B
est: 1.44B (+2.7%)
1.67B
est: 1.70B (-1.4%)
1.97B
est: 1.87B (+5.4%)
2.15B
est: 2.15B (0.0%)
3.31B
3.15B – 3.47B
+54.0% YoY
3.69B
3.33B – 4.06B
+11.7% YoY
4.37B
4.16B – 4.59B
+18.4% YoY
7.11B
6.77B – 7.45B
+62.5% YoY
9.59B
9.13B – 10.05B
+34.9% YoY
EBITDA
92.22M
est: 144.68M (-36.3%)
139.06M
est: 176.97M (-21.4%)
119.52M
est: 171.48M (-30.3%)
78.67M
est: 114.01M (-31.0%)
547.39M
est: 394.09M (+38.9%)
316.17M
est: 321.96M (-1.8%)
945.06M
est: 833.18M (+13.4%)
941.93M
est: 882.85M (+6.7%)
1.01B
est: 975.46M (+3.3%)
859.75M
est: 1.12B (-23.1%)
1.72B
1.64B – 1.81B
+54.0% YoY
1.92B
1.73B – 2.12B
+11.7% YoY
2.28B
2.17B – 2.39B
+18.4% YoY
3.70B
3.52B – 3.88B
+62.5% YoY
4.99B
4.75B – 5.24B
+34.9% YoY
EBIT
86.80M
est: 142.07M (-38.9%)
133.00M
est: 173.78M (-23.5%)
115.59M
est: 168.39M (-31.4%)
71.92M
est: 111.96M (-35.8%)
539.64M
est: 386.99M (+39.4%)
307.25M
est: 316.16M (-2.8%)
933.07M
est: 818.17M (+14.0%)
924.73M
est: 864.47M (+7.0%)
987.71M
est: 955.16M (+3.4%)
834.34M
est: 1.10B (-23.8%)
1.69B
1.61B – 1.77B
+54.0% YoY
1.88B
1.70B – 2.07B
+11.7% YoY
2.23B
2.12B – 2.34B
+18.4% YoY
3.63B
3.45B – 3.80B
+62.5% YoY
4.89B
4.65B – 5.13B
+34.9% YoY
Net Income
77.71M
est: 78.83M (-1.4%)
92.97M
est: 118.96M (-21.8%)
101.47M
est: 112.87M (-10.1%)
57.70M
est: 34.10M (+69.2%)
402.09M
est: 363.29M (+10.7%)
237.83M
est: 41.15M (+478.0%)
766.10M
est: 771.64M (-0.7%)
791.17M
857.03M
est: 863.16M (-0.7%)
643.78M
est: 662.50M (-2.8%)
1.26B
1.22B – 1.39B
+90.3% YoY
1.31B
1.22B – 1.39B
+3.5% YoY
1.50B
1.41B – 1.60B
+15.3% YoY
1.75B
1.64B – 1.86B
+16.4% YoY
2.07B
1.94B – 2.20B
+18.1% YoY
SGA
128.16M
est: 79.23M (+61.8%)
103.97M
est: 96.91M (+7.3%)
117.63M
est: 93.91M (+25.3%)
124.20M
est: 62.44M (+98.9%)
207.30M
est: 215.82M (-3.9%)
251.96M
est: 176.32M (+42.9%)
418.13M
est: 456.28M (-8.4%)
524.96M
est: 448.15M (+17.1%)
658.27M
est: 495.16M (+32.9%)
est: 567.78M (-100.0%)
874.53M
832.30M – 916.76M
+54.0% YoY
976.58M
879.35M – 1.07B
+11.7% YoY
1.16B
1.10B – 1.21B
+18.4% YoY
1.88B
1.79B – 1.97B
+62.5% YoY
2.54B
2.41B – 2.66B
+34.9% YoY
EPS
0.66
est: 0.67 (-1.6%)
0.79
est: 1.01 (-21.9%)
0.86
est: 0.96 (-10.4%)
0.49
est: 0.29 (+69.0%)
3.43
est: 3.09 (+11.0%)
2.03
est: 0.35 (+480.0%)
6.53
est: 6.56 (-0.5%)
6.73
7.29
est: 7.34 (-0.7%)
5.48
est: 5.64 (-2.8%)
11.10
10.40 – 11.80
+97.0% YoY
11.10
10.40 – 11.80
+0.0% YoY
12.80
12.00 – 13.60
+15.3% YoY
14.90
13.96 – 15.84
+16.4% YoY
17.60
16.50 – 18.70
+18.1% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-14 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-13 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-12 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-11 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-05-08 C+ 2/5 5/5 1/5 1/5 1/5 3/5 1/5
2026-05-07 C+ 2/5 5/5 1/5 1/5 1/5 3/5 1/5
2026-05-06 C+ 2/5 5/5 1/5 1/5 1/5 3/5 1/5
2026-05-05 C+ 2/5 5/5 1/5 1/5 1/5 3/5 1/5
2026-05-04 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-30 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-29 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-28 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-27 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-24 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-23 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-22 A- 4/5 5/5 5/5 5/5 3/5 2/5 1/5
2026-04-21 A 4/5 5/5 5/5 5/5 3/5 3/5 1/5
2026-04-20 A 4/5 5/5 5/5 5/5 3/5 3/5 1/5
2026-04-17 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-04-16 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-04-15 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
1.97B
OE per share TTM
16.79
Owner's Yield
15.22%
Maintenance CapEx ratio
0.33%
Maint CapEx / Avg PPE
3.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
822.0K
Shares Outstanding
117.57M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Omar Arnaout Chairman of the Management Board & Chief Executive Officer 2M male
Filip Kaczmarzyk Director of Trading Department & Member of the Management Board 2M male
Pawel Szejko Chief Financial Officer & Member of the Management Board 1M male
Jakub Kubacki Member of the Management Board for Legal Affairs 1M male
Bartosz Osinski Member of Management Board for Risk 120.0K male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits