Added to YB: 2026-03-06
Pitch date: 2026-03-04
INPST.AS [neutral]
InPost S.A.
Author Info
Slow Compounding is an ex buy-side analyst looking for high-quality companies that create high shareholder returns. Investing for the long-term. Sign up for the newsletter.
Company Info
InPost S.A., together with its subsidiaries, operates as an out-of-home e-commerce enablement platform providing parcel locker services in Poland and other European countries.
Market Cap
EUR 32.5B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
10.85
P/E
36.53
EV/Sales
3.03
Sector
Air Freight and Logistics
Category
special_situation
InPost: The Parcel-Locker Flywheel — and the Lowball Takeover
INPST.AS (pass): Consortium (FedEx, Advent, CEO Brzoska, PPF) offered €15.60/share (below €16 IPO price) despite EBITDA growing ~300% since 2021 to ~PLN 4B. Poland generates ~PLN 3B FCF at ~50% EBITDA margin, 55%+ ROIC from dense APM network (28k lockers, 50% mkt share). Intl expansion (France/UK) at 15-18% margins, early stage in 7x larger TAM. CEO increases stake w/o fresh capital while minorities cashed out. Downside if deal fails, limited upside to offer price. Avoid/sell.
Read full article (18 min)