JRH
H1 2026 report
Net income
4.85 m PLN
— YoY
CFO
0.18 m PLN
— YoY
Summary
Investment thesis
- Kapitał własny 171,5 mln zł (3,79 zł na akcję), portfel inwestycji 218,2 mln zł, brak długu odsetkowego.
- OCF tylko 0,18 mln zł, gotówka 0,28 mln zł wobec zobowiązań krótkoterminowych 46,3 mln zł.
- Zaliczki na poczet sprzedaży akcji 39,1 mln zł, w tym 34,8 mln zł od podmiotów powiązanych z głównym akcjonariuszem (59,97%).
- Zdarzenia po dniu bilansowym (sprzedaż Flexee 33% poniżej wyceny) rodzą pytania o wiarygodność wycen.
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Financials
BETA
JRH · H1 2026
| Metric | H1 2026 | H1 2025 | Δ YoY | YTD 2026 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|---|---|
| EBIT | 7.32 | — | — | 7.32 | — | reported | — | 1.00 |
| EBT | 7.31 | 42.71 | −82.9% | 7.31 | −82.9% | reported | — | 1.00 |
| Net income | 4.85 | 31.4 | −84.5% | 4.85 | −84.5% | reported | — | 1.00 |
| EPS (basic) (PLN) | 0.11 | 0.69 | — | 0.11 | — | reported | — | 1.00 |
| EPS (diluted) (PLN) | 0.11 | 0.69 | — | 0.11 | — | reported | — | 1.00 |
| D&A | 0.03 | — | — | 0.03 | — | reported | — | 1.00 |
| Income tax | 2.46 | — | — | 2.46 | — | reported | — | 1.00 |
| Shares (basic) (m units) | 45.25 | 45.37 | — | 45.25 | — | reported | — | 1.00 |
| Cash | 0.28 | 0.1 | +191.4% | — | — | reported | — | 1.00 |
| Equity | 171.48 | 166.62 | +2.9% | — | — | reported | — | 1.00 |
| Total assets | 225.88 | 218.22 | +3.5% | — | — | reported | — | 1.00 |
| Current assets | 225.81 | 218.06 | +3.6% | — | — | reported | — | 1.00 |
| Current liabilities | 46.26 | 45.92 | +0.7% | — | — | reported | — | 1.00 |
| Non-current liabilities | 8.14 | 5.68 | +43.3% | — | — | reported | — | 1.00 |
| CFO | 0.18 | 0.47 | −60.5% | 0.18 | −60.5% | reported | — | 1.00 |
| Current ratio | 4.88x | 4.75x | +0.13x | — | — | reported | — | 0.70 |
| EBIT growth (YoY) | -57.4% | — | — | -57.4% | — | reported | — | 0.70 |
| Net income growth (YoY) | -61.4% | 142.59% | — | -61.4% | — | reported | — | 0.70 |
| EPS growth (YoY) | -60.7% | 141.57% | — | -60.7% | — | reported | — | 0.70 |
H1 2026 · Δ YoY
EBIT
7.32
—
7.32
—
- H1 2025
- —
- YTD 2026
- 7.32
- Δ YoY
- —
EBT
7.31
−82.9%
7.31
−82.9%
- H1 2025
- 42.71
- YTD 2026
- 7.31
- Δ YoY
- −82.9%
Net income
4.85
−84.5%
4.85
−84.5%
- H1 2025
- 31.4
- YTD 2026
- 4.85
- Δ YoY
- −84.5%
EPS (basic)
(PLN)
0.11
—
0.11
—
- H1 2025
- 0.69
- YTD 2026
- 0.11
- Δ YoY
- —
EPS (diluted)
(PLN)
0.11
—
0.11
—
- H1 2025
- 0.69
- YTD 2026
- 0.11
- Δ YoY
- —
D&A
0.03
—
0.03
—
- H1 2025
- —
- YTD 2026
- 0.03
- Δ YoY
- —
Income tax
2.46
—
2.46
—
- H1 2025
- —
- YTD 2026
- 2.46
- Δ YoY
- —
Shares (basic)
(m units)
45.25
—
45.25
—
- H1 2025
- 45.37
- YTD 2026
- 45.25
- Δ YoY
- —
Cash
0.28
+191.4%
0.28
+191.4%
- H1 2025
- 0.1
- YTD 2026
- —
- Δ YoY
- —
Equity
171.48
+2.9%
171.48
+2.9%
- H1 2025
- 166.62
- YTD 2026
- —
- Δ YoY
- —
Total assets
225.88
+3.5%
225.88
+3.5%
- H1 2025
- 218.22
- YTD 2026
- —
- Δ YoY
- —
Current assets
225.81
+3.6%
225.81
+3.6%
- H1 2025
- 218.06
- YTD 2026
- —
- Δ YoY
- —
Current liabilities
46.26
+0.7%
46.26
+0.7%
- H1 2025
- 45.92
- YTD 2026
- —
- Δ YoY
- —
Non-current liabilities
8.14
+43.3%
8.14
+43.3%
- H1 2025
- 5.68
- YTD 2026
- —
- Δ YoY
- —
CFO
0.18
−60.5%
0.18
−60.5%
- H1 2025
- 0.47
- YTD 2026
- 0.18
- Δ YoY
- −60.5%
Current ratio
4.88x
+0.13x
4.88x
+0.13x
- H1 2025
- 4.75x
- YTD 2026
- —
- Δ YoY
- —
EBIT growth (YoY)
-57.4%
—
-57.4%
—
- H1 2025
- —
- YTD 2026
- -57.4%
- Δ YoY
- —
Net income growth (YoY)
-61.4%
—
-61.4%
—
- H1 2025
- 142.59%
- YTD 2026
- -61.4%
- Δ YoY
- —
EPS growth (YoY)
-60.7%
—
-60.7%
—
- H1 2025
- 141.57%
- YTD 2026
- -60.7%
- Δ YoY
- —