KGHM Polska Miedz S.A. (KGH.WA) stock analysis

In our weekly check, KGHM Polska Miedz S.A. is graded C (A to F). Of 24 checks on debt, profit, cash flow and trend: 14 pass, warnings: 7, red flags: 3.

About KGHM Polska Miedz S.A.

KGHM Polska Miedz S.A. is a Basic Materials company (Copper), listed on WSE as KGH.WA.

What our checks show for KGH.WA

Red flags

• Analysts expect the net margin to shrink by 4.6 points from today's 19.6%.
• The price swings a lot: 54.8% annual volatility. Expect large ups and downs.
• The stock has fallen as much as 85% from a peak. Would you have held through that?

Warning signs

• The net margin fell by 1.1 points over 5 years, to 19.6%: the company keeps less of each sale as profit.
• Operating cash flow is only 0.79x net profit: part of the reported profit does not arrive as cash.
• Analysts expect earnings per share to shrink about 3.6% a year.
• Analysts expect only about 4.8% a year of growth in revenue.
• Free cash flow is only 3% of revenue.
• Recovering from its deepest fall took about 2.1 years.
• Beta 1.33: the stock usually moves more than the market, both up and down.

Strengths

• Net debt is only 0.3x a year of EBITDA: the balance sheet has room.
• Operating profit covers interest 55.5 times over.
• The gross margin is 25.1% and has risen by 4.1 points: pricing power is holding.
• Earnings per share grew 22.1% a year over the last 3 years.
• Net profit grew 22.1% a year over the last 3 years.
• The price is 6.7 times earnings (P/E), reasonable for its growth.

Next earnings report: 2026-11-18

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Questions

What grade does KGHM Polska Miedz S.A. (KGH.WA) have?

In our weekly check, KGHM Polska Miedz S.A. is graded C (A to F). Of 24 checks on debt, profit, cash flow and trend: 14 pass, warnings: 7, red flags: 3. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of KGH.WA stock?

This week's biggest flags for KGHM Polska Miedz S.A.: Margins expected to shrink, Very volatile, Deep past fall. In total 10 of 24 checks show a warning or a red flag.

What does KGHM Polska Miedz S.A. do?

KGHM Polska Miedz S.A. is a Basic Materials company (Copper), listed on WSE as KGH.WA.

When does KGHM Polska Miedz S.A. report earnings next?

The next earnings report is expected on 2026-11-18. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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