Benefit Systems S.A. (BFT) AI Stock Analysis

• Market Cap: zł11.90B
• Dividend Yield: 3.96%
• Average Volume (3M): 3.97K
• Price to Earnings (P/E): 11.7
• Beta (1Y): 0.57
• Revenue Growth: 22.60%
• EPS Growth: -5.94%
• Country: PL
• Employees: 2,222
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): 64.70
• Shares Outstanding: 3,301,042
• 10 Day Avg. Volume: 5,932
• 30 Day Avg. Volume: 3,968
• PEG Ratio: 12.97
• Price to Book (P/B): 7.41
• Price to Sales (P/S): 2.52
• P/FCF Ratio: 11.97
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 224.09
• Revenue Forecast (FY): zł5.57B

• Rating: 62 Neutral
• Price Target: zł3,201.00 ▼(-15.65% Downside)
• Action: Reiterated Date: 09/28/25
• Date: Action: Reiterated 09/28/25

Benefit Systems S.A. shows strong financial performance with robust growth and profitability, which is the most significant factor in its overall score. However, technical analysis indicates bearish momentum, which negatively impacts the stock's short-term outlook. The valuation is reasonable, with a moderate P/E ratio and an attractive dividend yield, providing some support to the stock's score.

Positive Factors

Profitability

A healthy net profit margin reflects effective cost control and operational efficiency, contributing to sustainable profitability over the long term.

Market Position

As a market leader in Poland, the company benefits from brand recognition and a strong customer base, which enhances its competitive position and long-term growth potential.

Revenue Growth

Consistent revenue growth indicates expanding market reach and strong demand for the company's wellness solutions, supporting long-term business stability.

Negative Factors

Gross Profit Margin Pressure

A declining gross profit margin may indicate rising costs or pricing pressures, which could affect profitability if not managed effectively over time.

Free Cash Flow Decline

A decline in free cash flow growth suggests potential challenges in cash generation, which could limit the company's ability to fund new initiatives and maintain financial flexibility.

High Leverage

High leverage can increase financial risk, especially in volatile markets, potentially impacting the company's ability to invest in growth and weather economic downturns.

Benefit Systems S.A. Business Overview & Revenue Model

Company Description

Benefit Systems S.A. provides non-wage employee benefits solutions in Poland and internationally. The company offers its solutions for sports and recreation, such as multisport card, fitprofit, and fitness network; and culture and entertainment, including cinema program, MultiBilet, MultiTeatr, and multi-museum. It also provides non-wage incentives through cafeteria platforms comprising MyBenefit and BenefitLunch. The company was founded in 2000 and is based in Warsaw, Poland.

How the Company Makes Money

Benefit Systems generates revenue primarily through the sale of its employee benefit products, particularly the MultiSport card subscriptions, which are purchased by companies for their employees. The company operates on a B2B model, partnering with a wide network of fitness facilities and service providers, which allows it to offer diverse options to its clients. Additional revenue streams include wellness programs, corporate health initiatives, and partnerships with health-related organizations that enhance its service offerings. The company benefits from long-term contracts with corporate clients, which provide a stable income source, and it continuously seeks to expand its network of partnerships to increase its market reach and service variety.

Benefit Systems S.A. Financial Statement Overview

Summary

Benefit Systems S.A. exhibits strong financial performance with robust revenue growth and profitability. While the company effectively utilizes equity to generate returns, its high leverage poses potential risks. Cash flow management remains solid, though recent declines in free cash flow growth warrant attention. Overall, the company is well-positioned in the leisure industry, with strengths in growth and profitability, but should monitor leverage and cash flow trends closely.

Income Statement

Benefit Systems S.A. demonstrates strong revenue growth with a 7.02% increase in TTM, supported by a solid gross profit margin of 35.08%. The net profit margin is healthy at 11.80%, indicating efficient cost management. However, the slight decline in gross profit margin from the previous year suggests potential cost pressures. Overall, the company shows robust profitability and growth in the leisure industry.

Balance Sheet

The company maintains a high debt-to-equity ratio of 1.45, indicating significant leverage, which could pose risks in volatile markets. However, the return on equity is strong at 32.87%, reflecting effective use of equity to generate profits. The equity ratio stands at 33.63%, suggesting a balanced asset structure. While leverage is a concern, the company’s ability to generate returns is commendable.

Cash Flow

Operating cash flow remains strong, though the free cash flow growth rate has declined by 8.84% in TTM, indicating potential challenges in cash generation. The operating cash flow to net income ratio of 0.76 suggests reasonable cash conversion efficiency. Despite the decline in free cash flow growth, the company maintains a healthy free cash flow to net income ratio of 50.55%, reflecting adequate cash flow management.

Breakdown	TTM	Mar 2025	Dec 2023	Dec 2022	Mar 2022	Dec 2020
Income Statement
Total Revenue	4.15B	3.40B	2.77B	1.91B	954.94M	1.03B
Gross Profit	1.47B	1.21B	930.75M	517.09M	180.90M	218.52M
EBITDA	1.32B	968.98M	877.19M	438.08M	212.16M	140.01M
Net Income	526.13M	449.63M	439.64M	138.12M	-23.86M	-98.69M
Balance Sheet
Total Assets	6.32B	3.42B	2.80B	2.23B	2.18B	2.04B
Cash, Cash Equivalents and Short-Term Investments	724.17M	309.50M	434.00M	218.33M	253.01M	223.78M
Total Debt	2.97B	1.70B	1.12B	1.04B	1.16B	1.19B
Total Liabilities	4.08B	2.26B	1.80B	1.51B	1.58B	1.52B
Stockholders Equity	2.24B	1.15B	996.76M	727.03M	603.75M	524.53M
Cash Flow
Free Cash Flow	477.71M	715.08M	672.03M	316.95M	166.42M	168.32M
Operating Cash Flow	1.03B	962.34M	830.46M	439.67M	240.57M	222.12M
Investing Cash Flow	-2.17B	-537.05M	-262.22M	-155.07M	-125.73M	-34.18M
Financing Cash Flow	1.50B	-549.79M	-352.56M	-319.28M	-85.60M	-36.20M

Benefit Systems S.A. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3795.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PL:BFT, the sentiment is Negative. The current price of 3795 is below the 20-day moving average (MA) of 3809.50, below the 50-day MA of 3811.20, and above the 200-day MA of 3391.05, indicating a neutral trend. The MACD of -48.21 indicates Positive momentum. The RSI at 36.91 is Neutral, neither overbought nor oversold. The STOCH value of 16.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PL:BFT.

Benefit Systems S.A. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VRG	76 Outperform	zł1.09B	11.25	8.85%	1.84%	8.25%	13.21%
CAR	67 Neutral	zł9.21B	8.34	14.34%	0.26%	8.02%	4.67%
ALE	66 Neutral	zł29.13B	21.26	11.02%	―	6.02%	89.23%
EAT	64 Neutral	zł2.47B	42.33	6.02%	4.00%	0.79%	―
ANR	64 Neutral	zł387.22M	101.40	12.12%	―	21.94%	―
BFT	62 Neutral	zł11.90B	11.73	32.39%	3.96%	22.60%	-5.94%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%