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Added to YB: 2026-07-14

Pitch date: 2026-07-11

HOR.WA [neutral]

Hortico S.A.

-6%

current return

Author Info

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Company Info

Hortico S.A. supplies horticulture products in Poland. The company provides fertilizers for fertigation, sprinkling, foliar, ecological crops, and biostimulants; organic and mineral horticulture substrates; cuttings, seedlings, and flower and vegetable seeds for cultivation; plant protection products, such as fungicides, insecticides, herbicides, and growth regulators for the cultivation of cereals, vegetables, ornamental plants, berries, and orchards; tunnel foils, energy screens, perforated films, and foil for cucumbers, strawberries, and other crops in the ground, as well as for mulching; shading fabrics and meshes; and tools, accessories, and equipment of greenhouses.

Market Cap

PLN 96.9M

Pitch Price

PLN 7.50

Price Target

N/A

Dividend

3.87%

EV/EBITDA

5.49

P/E

7.03

EV/Sales

0.54

Sector

Trading Companies and Distributors

Category

N/A

Show full summary:
Hortico SA - Phase 1: Lie detection & ROIC

HOR.WA (overview): Polish consumer brand (garden products). Mgmt claims 10.2% sales/7.5% net margin - author's lie detection finds credible. ROIC declined on overspending as inventory grew faster than NOPAT. CEO Kolasa owns 40.5%, salary just 0.5-2% of net worth (aligned). Yellow flag: 647k PLN related-party txn w/ CEO's solo firm. Phase 2 next week.

Read full article (2 min)