SWG.WAR Seco/Warwick SA
- Market cap
- PLN 240M
- P/E
- 8.0x
- P/B
- 1.04x
- ROE
- 7.2%
- Dividend yield
- 3.64%
- Fundamental score
- 2.9/5
Ratios use the latest price and the current fiscal year annualized from 2 quarters up to Jun 2026.
Is SWG.WAR undervalued?
Graham numberSWG.WAR trades 39.5% below its Graham number.
Graham number = √(22.5 × EPS × book value per share): the most a defensive investor should pay according to Benjamin Graham. An estimate, not a recommendation to buy or sell. How is it calculated?
Seco/Warwick SA fundamental analysis
15 of 22 checks passedROE 0/2
Low return on equity (7.2%), below 10%.
ROA 1/1
Return on assets (2.3%) is above the industry median (2.2%).
Profit Consistency 2/2
Profitable for 8 consecutive years.
Earnings Growth 5Y 1/1
Earnings per share grew over the past 5 years.
Earnings Acceleration 1/1
Last year's EPS growth (36.5%) is above the 5-year average (22.3% a year).
Earnings Growth vs Industry 0/1
Last year's EPS growth (36.5%) is below the industry median (37.1%).
Revenue Growth 1/2
Revenue grew 6.2% a year over the past 3 years.
Short-term Liquidity 1/1
Current assets cover short-term liabilities.
Long-term Liabilities 1/1
Current assets cover long-term liabilities.
Debt to Equity 1/2
Moderate debt to equity (86.8%), up to 100%.
Debt Trend 0/1
Debt to equity has risen over the past 5 years.
Debt Coverage 0/1
Operating cash flow does not cover 20% of total debt.
Interest Coverage 0/1
EBIT is 2.9x against interest expense, below 5x.
PE vs Market 1/1
PE (8.0x) is below the market median (11.6x).
PE vs Industry 1/1
PE (8.0x) is below the industry median (10.2x).
PBV 1/1
Price to book (1.0x) is below the industry median (1.1x).
Graham Number 1/1
The price is below the Graham number (PE x PB = 8.2, limit 22.5).
PEG 1/1
PEG on 5-year earnings growth is 0.36, growth is cheap.
Dividend Yield 1/2
Dividend yield (3.6%) is above the bottom 25% of dividend payers in the market.
Dividend Stability 0/2
Dividends were not paid steadily for the past 5 years.
Dividend Growth 0/1
Dividends paid did not grow over the past 5 years.
Payout Ratio 1/1
Payout ratio is 33.5%, covered by earnings.
Each check is worth 1 or 2 points by how much it says about the quality of the company. The score is the share of points earned, out of 5. Ask AI to explain this score
Seco/Warwick SA stock price
Prices on the chart can differ slightly from the closing prices StockSummer uses for its ratios.
About Seco/Warwick SA
Seco/Warwick S.A. engages in the manufacturing and selling metal heat treatment equipment and solutions for metallurgy in the European Union, Russia, the United States, Asia, and internationally. The company offers vacuum and atmosphere furnaces, aluminium heat treatment products, vacuum metallurgy products, automation services, metal heat treatment services, and professional engineering services, as well as aluminium controlled atmosphere brazing services. The company also …
Full company profileSeco/Warwick SA financial statements
2026 annualized: Fiscal year 2026 is not finished. Income statement and cash flow are annualized from 2 quarters up to Jun 30, 2026, the balance sheet is the latest quarter. Figures change when the annual report is published.
Seco/Warwick SA annual financial statements (PLN; K = thousand, M = million, B = billion, T = trillion)
| Item | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 Anlz |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||
| Revenue | 566M | 484M | 524M | 452M | 389M | 463M | 623M | 684M | 713M | 746M | 713M |
| Gross Profit | 128M | 61.6M | 117M | 111M | 85.0M | 104M | 137M | 153M | 150M | 163M | 148M |
| Operating Income | 31.8M | -25.3M | 29.5M | 22.9M | 19.0M | 24.0M | 42.1M | 40.5M | 31.8M | 42.5M | 26.1M |
| EBITDA | 38.4M | -7.21M | 39.5M | 34.6M | 32.2M | 34.6M | 54.5M | 55.3M | 55.7M | 63.6M | 50.7M |
| Net Income | 19.8M | -41.9M | 19.1M | 15.3M | 13.8M | 16.9M | 30.6M | 35.4M | 24.3M | 26.1M | 16.8M |
| EPS | 1.86 | -4.06 | 1.93 | 1.54 | 1.40 | 1.91 | 3.49 | 4.14 | 2.80 | 3.82 | 2.32 |
| Balance Sheet | |||||||||||
| Total Assets | 519M | 484M | 473M | 456M | 451M | 457M | 582M | 627M | 709M | 650M | 723M |
| Total Liabilities | 319M | 333M | 299M | 266M | 261M | 263M | 358M | 381M | 445M | 420M | 488M |
| Shareholders' Equity | 200M | 151M | 174M | 189M | 181M | 192M | 222M | 243M | 261M | 227M | 232M |
| Cash & Short-term Investments | 41.4M | 57.4M | 53.6M | 36.6M | 52.6M | 54.2M | 73.9M | 75.7M | 146M | 63.9M | 60.1M |
| Total Debt | 80.0M | 81.5M | 69.5M | 44.2M | 53.6M | 68.3M | 89.8M | 93.0M | 142M | 153M | 201M |
| Cash Flow | |||||||||||
| Operating Cash Flow | -6.34M | 16.3M | 34.1M | 36.6M | 36.4M | 9.56M | 26.5M | 58.6M | 101M | -4.39M | -44.8M |
| Capital Expenditure | 15.0M | 19.0M | 24.4M | 12.1M | 11.5M | 10.3M | 13.2M | 21.9M | 41.3M | 41.0M | 27.9M |
| Free Cash Flow | -21.3M | -2.74M | 9.76M | 24.6M | 24.8M | -749K | 13.3M | 36.7M | 54.0M | -48.8M | -72.7M |
| Ratios | |||||||||||
| ROE | 9.9% | -27.7% | 10.9% | 8.1% | 7.6% | 8.8% | 13.8% | 14.6% | 9.3% | 11.5% | 7.2% |
| ROA | 3.8% | -8.6% | 4.0% | 3.4% | 3.1% | 3.7% | 5.3% | 5.7% | 3.4% | 4.0% | 2.3% |
| Net Profit Margin | 3.5% | -8.7% | 3.6% | 3.4% | 3.5% | 3.7% | 4.9% | 5.2% | 3.4% | 3.5% | 2.4% |
| Debt to Equity | 0.40x | 0.54x | 0.40x | 0.23x | 0.30x | 0.36x | 0.41x | 0.38x | 0.54x | 0.67x | 0.87x |
What these items mean
- Revenue
- Total sales of goods and services in the period.
- Gross Profit
- Revenue minus the direct cost of producing what was sold.
- Operating Income
- Profit from the core business after operating expenses.
- EBITDA
- Earnings before interest, taxes, depreciation and amortization.
- Net Income
- Profit left for shareholders after all expenses, interest and taxes.
- EPS
- Net income divided by shares outstanding.
- Total Assets
- Everything the company owns.
- Total Liabilities
- Everything the company owes.
- Shareholders' Equity
- Assets minus liabilities: the book value that belongs to shareholders.
- Cash & Short-term Investments
- Cash and investments that can be turned into cash quickly.
- Total Debt
- Short and long-term borrowings.
- Operating Cash Flow
- Cash generated by the core business.
- Capital Expenditure
- Cash spent on property, plant and equipment.
- Free Cash Flow
- Operating cash flow minus capital expenditure: cash left for dividends, buybacks or debt repayment.
- ROE
- Return on equity: net income divided by shareholders' equity.
- ROA
- Return on assets: net income divided by total assets.
- Net Profit Margin
- Net income as a share of revenue.
- Debt to Equity
- Total debt divided by shareholders' equity.
Seco/Warwick SA dividends
- Dividend yield
- 3.64%
- Forward dividend
- 1.20 PLN
- Payout ratio
- 33.5%
- Ex-dividend date
- Jun 15, 2026
| Fiscal year | Dividends paid | Per share | Payout ratio |
|---|---|---|---|
| 2025 | PLN 8.74M | 1.28 | 33.5% |
| 2024 | PLN 8.62M | 0.99 | 35.4% |
| 2023 | PLN 8.50M | 0.99 | 24.0% |
| 2022 | PLN 2.55M | 0.29 | 8.3% |
| 2021 | PLN 4.94M | 0.56 | 29.2% |
| 2020 | - | - | - |
| 2019 | PLN 4.02M | 0.40 | 26.3% |
| 2018 | PLN 4.02M | 0.41 | 21.1% |
| 2017 | PLN 4.95M | 0.48 | - |
From the cash flow statement: dividends paid in the fiscal year, divided by that year's shares outstanding. Payout ratio = dividends paid / net income.
Who owns Seco/Warwick SA
- Insiders 44.21%
- Institutions 29.72%
- Public & others 26.07%
- Shares outstanding 7.27M
- Free float 3.31M
Seco/Warwick SA company profile
- Company name
- Seco/Warwick SA
- Ticker
- SWG.WAR
- ISIN
- PLWRWCK00013
- Exchange
- Warsaw Stock Exchange
- Sector
- Industrials
- Industry
- Machinery
- Employees
- 915
- Fiscal year end
- December
- Address
- 8 Sobieskiego Street, Swiebodzin, Poland, 66-200
- Phone
- 48 68 382 0500
- Website
- secowarwick.com
About Seco/Warwick SA
Seco/Warwick S.A. engages in the manufacturing and selling metal heat treatment equipment and solutions for metallurgy in the European Union, Russia, the United States, Asia, and internationally. The company offers vacuum and atmosphere furnaces, aluminium heat treatment products, vacuum metallurgy products, automation services, metal heat treatment services, and professional engineering services, as well as aluminium controlled atmosphere brazing services. The company also provides spare parts and repair services; and manufactures metallurgy equipment that is used for melting and vacuum casting of metals and specialty alloys. Seco/Warwick S.A. was founded in 1991 and is headquartered in Swiebodzin, Poland.
Seco/Warwick SA management
10- Mr. Slawomir WozniakChairman of Management Board, VP & COO
- Mr. Earl GoodPresident, MD & Member of the Management Board
- Mr. Piotr WalasekCFO & Member of Management Board
- Mr. Bartosz Marek KlinowskiManaging Director of Seco/Warwick Europe & Member of Management Board
- Krzysztof OpszalskiChief Accountant
- Ms. Katarzyna SawkaVice President of Marketing
- Ms. Katarzyna Roberta Tomaszewska-KowalskaManaging Director of Seco/Warwick Services
- Mr. Arvind AgarwalManaging Director of SECO/Warwick, India
- Mr. Pan GaojunManaging Director of SECO/WARWICK Retech
- Mr. Don Marteeny P.E.Managing Director of Seco / Warwick - USA