FIRST CAPITAL· SIGNA RESEARCH
KSE CLOSEDKSE-100 · PSX--:--:-- PKTDATA AS OF 11 JUN 2026 · EOD

SYS

Systems Limited
TECHNOLOGY

LAST · PKR

618.40
−7.98 −1.27%

52W RANGE

605.97729.23
10% OF RANGE · YTD −5.9%
01 / SYS — 1 YearAS OF 11 JUN 2026 · EOD
PERIOD 1Y · 250 SESSIONS

Source: PSX, First Capital Research. Data as of 11 Jun 2026, EOD.

02 / Fundamentals
Market cap
181bn
P/E (ttm)
19.4×
EPS (ttm)
31.88
Dividend yield
1.1%
Return on equity
23.6%
Beta
1.30
Free float
70%
52W high
729.23
52W low
605.97
1D change
−1.27%
YTD return
−5.9%

Pakistan's largest IT-export company; delivery centers across MEA serving BFSI, telco and public-sector clients.

03 / Research NoteCAUTIOUS

SIGNA DESK · FIRST CAPITAL RESEARCH · 11 JUN 2026 · EOD

Systems Limited: cheap for a reason — watch the next two quarters before adding

Systems Limited (SYS) trades at 19.4× trailing earnings with a 1.1% dividend yield, sitting 10% of the way up its 52-week range. Return on equity of 23.6% comfortably clears the market's cost of equity, and the 70% free float keeps the name liquid enough for institutional sizing.

Within the technology space, the setup is challenging: the discount to peers reflects genuine earnings risk rather than neglect. At 1.30 beta the name moves harder than the index in both directions — position sizing matters more than entry price. Capital appreciation, not the payout, has to carry the return from here.

AT A GLANCE

Stance
CAUTIOUS
P/E (ttm)
19.4×
Dividend yield
1.1%
Beta
1.30
52W position
10%
YTD return
−5.9%

— GENERATED BY SIGNA · NOT INVESTMENT ADVICE

04 / Sector Peers
SymbolLastChg %P/EM. Cap1Y
SYSSystems Limited— THIS PAGE618.40−1.27%19.4×181bn
TRGTRG Pakistan74.90+0.93%12.7×41bn

Source: PSX, First Capital Research. Data as of 11 Jun 2026, EOD.