Added to YB: 2026-05-22
Pitch date: 2026-05-20
OPN.WA [bullish]
Oponeo.pl S.A.
+1.49%
current return
Author Info
No bio for this author
Company Info
Oponeo.pl S.A. engages in the online retail of tyres and wheels for motor vehicles in Poland. The company operates through Car Accessories, Bicycle Accessories and Tools segments.
Market Cap
PLN 980.9M
Pitch Price
PLN 87.30
Price Target
147.00 (+66%)
Dividend
7.79%
EV/EBITDA
10.45
P/E
18.83
EV/Sales
0.60
Sector
Specialty Retail
Category
value
Oponeo: A 12% Grower trading at 6x Earnings Ex-Dadelo
OPN.WA: Polish online tire leader at ~6x P/E ex-Dadelo stake (59.53% of DAD.WA bike retailer worth 506M PLN). Q3 rev +18% YoY, Poland +26%, Dadelo +69%. Q4 net income -53% on 19M PLN one-offs (Rotopino impairment, Dadelo LTIP). Net debt jumped 50M→260M PLN from inventory build pre-EU tariffs. Normalized 2028 EPS ~7 PLN; Fair PE 21x = 147 PLN target vs 86 PLN today. 28% IRR base, 44% bull case. Risks: intl tire segment weak, inventory unwind, Rotopino writedown. Founder-led, 8% yield, EV tailwind.
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