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AmRest Holdings SE
(EAT)
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Rating:59Neutral
Price Target:
zł15.50
▲(44.32% Upside)
Action:N/A
Date:09/16/25
AmRest's score is anchored by steady operational improvement and growing digital engagement, but remains limited by persistent balance sheet risk and thin profitability. Positive trends in key markets drive the outlook, yet weak technical signals, subdued valuation metrics, and geographic headwinds prevent a higher score.
Positive Factors
Revenue Growth
Consistent revenue growth indicates expanding market presence and effective brand management, supporting long-term business sustainability.
Negative Factors
High Leverage
Significant leverage can strain financial flexibility and increase vulnerability to economic downturns, impacting long-term financial health.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Consistent revenue growth indicates expanding market presence and effective brand management, supporting long-term business sustainability.
Read all positive factors
AmRest Holdings SE (EAT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
zł2.20B
Dividend Yield2.92%
Average Volume (3M)51.94K
Price to Earnings (P/E)114.4
Beta (1Y)0.55
Revenue Growth-2.73%
EPS Growth-86.87%
CountryPL
Employees16,384
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)0.02
Shares Outstanding219,554,180
10 Day Avg. Volume54,571
30 Day Avg. Volume51,941
Financial Highlights & Ratios
PEG Ratio0.51
Price to Book (P/B)1.84
Price to Sales (P/S)0.27
P/FCF Ratio3.61
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
zł12.00Price Target Upside11.73% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)0.12
Revenue Forecast (FY)zł2.55B
AmRest Holdings SE Business Overview & Revenue Model
Company Description
AmRest Holdings SE is a restaurant operator and manager, overseeing a wide array of dining concepts including quick service, fast casual, coffee shops, and casual dining establishments. Its operations span across Central and Eastern Europe, Wester...
How the Company Makes Money
AmRest generates revenue primarily through the operation of its restaurant locations, which includes both company-owned and franchised outlets. The company earns money by selling food and beverages directly to customers at these locations. Additio...
AmRest Holdings SE Earnings Call Summary
Earnings Call Date:Aug 27, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture. AmRest reported materially improved free cash flow, lower investment intensity, reduced net debt, enhanced financing flexibility, continued restaurant openings, and resilience in several core markets and brands. However, revenue was broadly flat or slightly down, EBITDA and margins declined, comparable sales remained below the prior year, Czechia and Romania continued to face challenges, China profitability weakened, and full-year 2026 growth expectations were reduced from single-digit growth to slightly positive growth. The positive cash generation and balance-sheet developments were significant, but the operating performance and outlook remained uneven.Positive Updates
Improved Free Cash Flow
Free cash flow improved from EUR -26.2 million in the first half of 2025 to EUR +25.6 million in the first half of 2026, a year-on-year improvement of almost EUR 52 million. Management attributed the improvement to stronger working capital discipline, better cash conversion, and disciplined CapEx.
Negative Updates
First-Half Revenue and EBITDA Margin Decline
First-half revenue excluding the effect of the prior-year business deconsolidation declined 0.7% year over year. EBITDA was EUR 177.7 million with a 14.4% margin, compared with a 15% margin in the first half of 2025.
Read all updates
Q2-2026 Updates
Positive
Negative
Improved Free Cash Flow
Free cash flow improved from EUR -26.2 million in the first half of 2025 to EUR +25.6 million in the first half of 2026, a year-on-year improvement of almost EUR 52 million. Management attributed the improvement to stronger working capital discipline, better cash conversion, and disciplined CapEx.
Read all positive updates
Company Guidance
For the remainder of 2026, AmRest now expects revenue and profitability growth to be “slightly positive rather than growing at a single-digit rate,” versus its prior expectation of “single-digit growth” in both revenue and profitability; it expects to open three Taco Bell restaurants in Poland “before year-end” and “a higher number next year,” while the timing of Czech market recovery is “difficult to tell,” Romania’s cycle is expected to “end soon,” and in the short term it does not expect “any affectations” from food-cost pressures, although expectations for next year could put “some pressure” on costs if the conflict in the Middle East continues.AmRest Holdings SE Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
45
Neutral
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.52B | 2.57B | 2.56B | 2.43B | 2.42B | 1.92B |
| Gross Profit | 269.62M | 297.42M | 323.10M | 308.20M | 269.00M | 212.90M |
| EBITDA | 379.43M | 394.96M | 377.70M | 355.00M | 353.00M | 335.60M |
| Net Income | 4.69M | 16.17M | 8.50M | 44.90M | 6.60M | 32.90M |
Balance Sheet | ||||||
| Total Assets | 2.35B | 2.55B | 2.37B | 2.35B | 2.28B | 2.17B |
| Cash, Cash Equivalents and Short-Term Investments | 161.87M | 145.69M | 139.60M | 227.50M | 229.60M | 198.70M |
| Total Debt | 1.61B | 1.62B | 1.59B | 1.51B | 1.53B | 1.49B |
| Total Liabilities | 1.98B | 2.17B | 1.98B | 1.95B | 1.95B | 1.87B |
| Stockholders Equity | 364.69M | 371.63M | 372.60M | 385.40M | 320.10M | 298.70M |
Cash Flow | ||||||
| Free Cash Flow | 248.65M | 189.64M | 192.70M | 173.40M | 224.50M | 258.80M |
| Operating Cash Flow | 378.25M | 343.12M | 408.50M | 370.50M | 362.50M | 356.90M |
| Investing Cash Flow | -133.17M | -165.33M | -214.50M | -133.00M | -138.10M | -96.60M |
| Financing Cash Flow | -218.13M | -185.73M | -268.50M | -233.50M | -192.10M | -270.40M |
AmRest Holdings SE Technical Analysis
Negative
10.74
Price Trends
10.72
Negative
10.76
Negative
11.77
Negative
Market Momentum
-0.10
Positive
35.15
Neutral
10.30
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PL:EAT, the sentiment is Negative. The current price of 10.74 is below the 20-day moving average (MA) of 10.83, above the 50-day MA of 10.72, and below the 200-day MA of 11.77, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 35.15 is Neutral, neither overbought nor oversold. The STOCH value of 10.30 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PL:EAT.
AmRest Holdings SE Peers Comparison
UnderperformOutperform
Sector (61)
PL:EAT
AmRest Holdings SE
10.16
-3.64
-26.36%
PL:MRH
Mr Hamburger SA
0.17
-0.23
-57.50%
PL:MXP
MaxiPizza S.A.
0.53
0.13
32.50%
PL:SFS
Sfinks Polska S.A.
0.45
<0.01
0.90%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.