Regional cluster
Central European
Stock Screener
Screen Polish and Austrian equities by P/E, ROE, EV/EBITDA, profit margin, and dividend yield. GPW Warsaw is the largest stock exchange in the region — covering over 400 companies across the Main Market and NewConnect alternative listings. Full coverage. Free, no account required.
Markets covered
Poland
GPW · GPW NewConnect
Largest stock exchange in Central and Eastern Europe. NewConnect is the most active alternative market in the region — 350+ small companies across IT, media, and services.
Austria
VIE · Vienna Stock Exchange (Wiener Börse)
Vienna lists a mix of quality industrials, real estate, and banking stocks. Gateway to CEE through companies with regional exposure to Hungary, Czech Republic, and Balkans.
Why screen Central European stocks
Deepest value discount in the EU
Polish stocks on GPW trade at consistent discounts of 30–50% to Western European peers on EV/EBITDA and P/E multiples. This discount has structural causes — MSCI Emerging Market classification, institutional underweighting — and has persisted for over a decade. For value investors, it represents a genuine opportunity rather than a value trap.
GPW: the dominant regional exchange
GPW Warsaw is the largest stock exchange in Central and Eastern Europe by number of listed companies, trading volume, and market capitalisation. The NewConnect alternative market adds 350+ smaller companies across technology, media, and business services — most of them invisible to international screeners.
Strong corporate governance improvement trajectory
Polish listed companies have materially improved corporate governance standards over the past decade under EU regulatory pressure. Many family-controlled industrial companies on GPW now publish comprehensive annual reports in Polish and English, reducing the information barrier for international investors.
Austrian industrials — quality at reasonable prices
Vienna lists a distinct cluster of mid-cap industrial, banking, and real estate companies with exposure to Central and Eastern European economies. Many trade at lower multiples than comparable Western European industrials despite comparable or superior operational metrics.
How to screen Central European stocks
Select exchanges
Filter by GPW for Polish Main Market companies, or GPW for the full Polish listing universe including NewConnect. Add VIE to include Austrian companies. Sort by market cap ascending to see smaller companies first.
Apply value filters for CEE
P/E < 10, EV/EBITDA < 7, and ROE > 8% will surface the most attractively valued Polish and Austrian companies. CEE markets genuinely trade cheaper than Western Europe — these thresholds identify companies that are cheap even within a discounted market.
Check margin and coverage quality
Profit margin > 5% and revenue that has been stable or growing confirms the discount is not a value trap. For NewConnect microcaps, adding market cap < €100M filters out companies too small for most investors and focuses on the actionable range.
Frequently asked questions
What is GPW and why is it important for Central European investors?
GPW (Giełda Papierów Wartościowych w Warszawie) is the Warsaw Stock Exchange — the largest stock exchange in Central and Eastern Europe. It operates two markets: the GPW Main Market for larger regulated companies and NewConnect, an alternative market with lighter requirements for smaller companies. GPW is classified by MSCI as an Emerging Market, which causes systematic institutional underweighting and creates valuation discounts relative to comparable Western European companies.
Why do Polish stocks trade at a discount to Western European peers?
Several structural factors cause Polish stocks to trade at persistent discounts: MSCI Emerging Market classification (reducing allocation from developed market mandates), lower English-language coverage and disclosure, lower institutional ownership from European pension funds, and country risk premium from geopolitical proximity to Eastern Europe. These factors create a structural opportunity for investors willing to do the language and research work.
Does ScreenerHero cover NewConnect listings?
Yes — ScreenerHero covers GPW NewConnect listings alongside the GPW Main Market. NewConnect companies are some of the most undercovered equities in Europe. The microcap screener for Poland focuses specifically on these smaller alternative market listings where fundamental data is hardest to find elsewhere.
Screen Central European stocks — free, no account required.
GPW Warsaw, NewConnect, and Vienna Stock Exchange — all covered. P/E, ROE, EV/EBITDA, margins, and dividend yield. The deepest value discount in the EU, screened at filter speed.
Open Central European screener