Fact based stock research
Santander Bank Polska (WSE:SPL)

PLBZ00000044

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Santander Bank Polska stock research in summary

santander.pl

ANALYSIS: With an Obermatt Combined Rank of 16 (worse than 84% compared with investment alternatives), Santander Bank Polska (Diversified Banks, Poland) shares have lower financial characteristics compared with similar stocks. Shares of Santander Bank Polska are low in value (priced high) with a consolidated Value Rank of 33 (worse than 67% of alternatives) and show below-average growth (Growth Rank of 14) but are safely financed (Safety Rank of 53), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 16, is a sell recommendation based on Santander Bank Polska's financial characteristics. As the company Santander Bank Polska's critical financial metrics exhibit below-average performance, such as low value (Obermatt Value Rank of 33) and low growth (Obermatt Growth Rank of 14), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. In this case, good financing practices (Obermatt Safety Rank of 53) are a positive sign, because it may allow the company to weather challenging times until the hoped-for cash flows materialize. This may be true for high-tech or biotechnology companies with enough cash to sustain prolonged business development. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and unattractive today. In such cases, the Obermatt Method has limited value, as it is based on facts we can observe today. If the facts lie all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that account for a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	33
Growth Rank	14
Safety Rank	53
Combined Rank	16

Country	Poland
Industry	Diversified Banks
Index	Diversity Europe, WIG 20
Size class	Small

This stock has achievements: Top 10 Stock.

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Santander Bank Polska

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	6	1	17	33
GROWTH
GROWTH	75	88	19	14
SAFETY
SAFETY	33	65	26	53
SENTIMENT
SENTIMENT	65	67	75	^new
360° VIEW
360° VIEW	35	69	8	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Santander Bank Polska is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	6	1	17	33
GROWTH
GROWTH	75	88	19	14
SAFETY
SAFETY	33	65	26	53
COMBINED
COMBINED	21	54	4	16

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Santander Bank Polska the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 33 (worse than 67% compared with alternatives), Santander Bank Polska shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators, with three out of four indicators below average for Santander Bank Polska. Only the metric dividend yield has an above-average rank, reflecting that dividend practices are expected to be higher than 89% of comparable companies, making the stock an attractive buy for dividend investors. However, dividend investors may get disappointed because all other critical financial indicators are below the market median: Price-to-Sales is 28 which means that the stock price compared with what market professionals expect for future profits is higher than 72% of comparable companies, indicating a low value concerning Santander Bank Polska's sales levels. The same is valid for Price-to-Profit (also referred to as price-earnings, P/E) with a rank of 39 which means that the stock price compared with what market professionals expect for future profit levels is higher than 61% of comparable companies. In addition, Price-to-Book (also referred to as market-to-book ratio) with a Price-to-Book Rank of 19 is also low. Compared with invested capital, the stock price is higher than for 81% of comparable investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 33, is a hold recommendation based on Santander Bank Polska's stock price compared with the company's operational size and dividend yields. Should dividend investors pick Santander Bank Polska? The company-reported financials speak against it. The company is expensive compared with revenue and invested capital levels, two reliable company size indicators. In addition, it currently has a low level of profits. How can future dividends be paid in the case that profits remain low? Dividend investors should choose Santander Bank Polska only if they reasonably expect the low current profit levels to be transitory. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	14	7	21	28
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	3	5	23	39
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	10	10	14	19
DIVIDEND YIELD
DIVIDEND YIELD	30	20	53	89
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	6	1	17	33

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Santander Bank Polska; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 14 (better than 14% compared with alternatives), Santander Bank Polska shows one of the most restricted growth dynamics in its industry. There is little momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four metrics below average for Santander Bank Polska. While Profit Growth has a good rank of 93, as professionals currently expect the company to grow its profits more than 93% of its competitors, all other growth indicators are below market averages. Sales Growth has a rank of 1, which means that currently professionals expect the company to grow less than 99% of its competitors, while Capital Growth has a rank of 47 and Stock Returns have been below market median, with a rank of 9 (91% of alternative investments were better). ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 14, is a sell recommendation for growth and momentum investors. While revenue growth and capital growth are good growth momentum indicators, profit is less reliable, because profits may increase due to cost-cutting measures which typically indicate negative growth momentum. "You can save a dollar only once" is the saying about such situations. Growth Investors should look at company priorities closely if they are interested in growth, because the increase in profits is not usually an indicator of growth, and stock prices have been below market, too. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is limited here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	93	26	16	1
PROFIT GROWTH
PROFIT GROWTH	19	75	84	93
CAPITAL GROWTH
CAPITAL GROWTH	35	77	49	47
STOCK RETURNS
STOCK RETURNS	97	96	21	9
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	75	88	19	14

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Santander Bank Polska.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 53 (better than 53% compared with alternatives), the company Santander Bank Polska has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of Santander Bank Polska is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Santander Bank Polska. Leverage is at a rank of 58, meaning the company has a below-average debt-to-equity ratio. It has less debt than 58% of its competitors. Liquidity is also good at a rank of 75, meaning the company generates more profit to service its debt than 75% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 19, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 81% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 53 (better than 53% compared with alternatives), Santander Bank Polska has a financing structure that is safer than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Santander Bank Polska. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Santander Bank Polska and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	30	42	48	58
REFINANCING
REFINANCING	13	34	13	19
LIQUIDITY
LIQUIDITY	90	87	64	75
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	33	65	26	53

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Santander Bank Polska and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	10	40	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	82	50	^new
PRO HOLDINGS
PRO HOLDINGS	77	68	77	^new
MARKET PULSE
MARKET PULSE	67	75	82	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	65	67	75	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Santander Bank Polska.
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