Investment Thesis for Polskie Górnictwo Naftowe I Gazownictwo (WSE: PGN)
Hanke, Steve H.
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This working paper is an in-depth financial analysis of Polskie Górnictwo Naftowe i Gazownictwo (PGNiG), a Polish state-controlled oil and natural gas company. Our analysis examines the economic trends and commodity movements that affect PGNiG and how the firm adjusts to these changing factors. This analysis is combined with our proprietary Discounted Cash Flow (PDCF) model and a Monte-Carlo simulation. This results in distributions of probable free cash flows and future earnings. Our goal is to provide the necessary financial and background information along with in-depth analysis to allow the reader to make an informed investment decision.