New Risk • Apr 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: zł15.0m (US$4.12m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (zł15.0m market cap, or US$4.12m). Minor Risk Dividend is not well covered by earnings (114% payout ratio). Buy Or Sell Opportunity • Feb 26
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to zł15.30. The fair value is estimated to be zł12.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has declined by 3.8%. Buy Or Sell Opportunity • Jan 28
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 4.1% to zł15.30. The fair value is estimated to be zł12.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Earnings per share has declined by 3.8%. Aankondiging • Nov 15
Yanosik S.A. to Report Q3, 2025 Results on Nov 20, 2025 Yanosik S.A. announced that they will report Q3, 2025 results on Nov 20, 2025 New Risk • Oct 09
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 145% Cash payout ratio: 340% Dividend yield: 41% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 145% Cash payout ratio: 340% Minor Risk Market cap is less than US$100m (zł86.0m market cap, or US$23.3m). Aankondiging • Aug 20
Neptis Spólka Akcyjna to Report Q2, 2025 Results on Sep 02, 2025 Neptis Spólka Akcyjna announced that they will report Q2, 2025 results on Sep 02, 2025 Upcoming Dividend • Jun 25
Upcoming dividend of zł5.62 per share Eligible shareholders must have bought the stock before 30 June 2025. Payment date: 04 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.5%. Lower than top quartile of Polish dividend payers (7.0%). Higher than average of industry peers (3.3%). Declared Dividend • Jun 11
Dividend increased to zł5.62 Dividend of zł5.62 is 181% higher than last year. Ex-date: 30th June 2025 Payment date: 4th July 2025 Dividend yield will be 4.5%, which is higher than the industry average of 2.7%. Sustainability & Growth Dividend is not covered by earnings (146% earnings payout ratio). However, it is covered by cash flows (55% cash payout ratio). The dividend has increased by an average of 46% per year over the past 3 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 63% to bring the payout ratio under control, which is more than the 34% EPS growth achieved over the last 3 years. New Risk • Jun 02
New minor risk - Dividend sustainability The dividend is not well covered by earnings. Payout ratio: 188% Dividend yield: 4.5% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (188% payout ratio). Market cap is less than US$100m (zł126.0m market cap, or US$33.8m). Reported Earnings • May 23
First quarter 2025 earnings released First quarter 2025 results: Revenue: zł14.0m (up 20% from 1Q 2024). Net income: zł954.2k (up zł899.3k from 1Q 2024). Profit margin: 6.8% (up from 0.5% in 1Q 2024). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to zł135, the stock trades at a trailing P/E ratio of 67.5x. Average trailing P/E is 31x in the Communications industry in Europe. Total returns to shareholders of 180% over the past three years. Reported Earnings • Aug 18
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: zł16.2m (up 6.1% from 2Q 2023). Net income: zł508.7k (down 64% from 2Q 2023). Profit margin: 3.1% (down from 9.3% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 22% per year. Buy Or Sell Opportunity • Jul 10
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to zł95.00. The fair value is estimated to be zł123, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 29%. Upcoming Dividend • Jun 21
Upcoming dividend of zł2.00 per share Eligible shareholders must have bought the stock before 28 June 2024. Payment date: 05 July 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.6%. Lower than top quartile of Polish dividend payers (7.7%). Higher than average of industry peers (3.9%). Buy Or Sell Opportunity • Jun 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to zł99.00. The fair value is estimated to be zł124, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 29%. Buy Or Sell Opportunity • May 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to zł97.50. The fair value is estimated to be zł122, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 29%. Reported Earnings • Mar 24
Full year 2023 earnings released Full year 2023 results: Revenue: zł55.6m (up 4.9% from FY 2022). Net income: zł2.05m (down 56% from FY 2022). Profit margin: 3.7% (down from 8.9% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 13
Neptis Spólka Akcyjna to Report Fiscal Year 2023 Results on Mar 20, 2024 Neptis Spólka Akcyjna announced that they will report fiscal year 2023 results on Mar 20, 2024 New Risk • Dec 11
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 113% Cash payout ratio: 201% Dividend yield: 4.1% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 113% Cash payout ratio: 201% High level of non-cash earnings (37% accrual ratio). Minor Risk Market cap is less than US$100m (zł113.0m market cap, or US$28.0m). Reported Earnings • Nov 19
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł11.9m (down 15% from 3Q 2022). Net income: zł26.9k (down 98% from 3Q 2022). Profit margin: 0.2% (down from 8.8% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to zł121, the stock trades at a trailing P/E ratio of 53.3x. Average trailing P/E is 19x in the Communications industry in Europe. Total returns to shareholders of 174% over the past three years. Upcoming Dividend • Jul 10
Upcoming dividend of zł4.60 per share at 1.5% yield Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 20 July 2023. Trailing yield: 1.5%. Lower than top quartile of Polish dividend payers (7.1%). Lower than average of industry peers (3.7%). Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to zł128, the stock trades at a trailing P/E ratio of 56.4x. Average trailing P/E is 18x in the Communications industry in Europe. Total returns to shareholders of 186% over the past three years. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to zł97.00, the stock trades at a trailing P/E ratio of 42.8x. Average trailing P/E is 21x in the Communications industry in Europe. Total returns to shareholders of 98% over the past three years. Aankondiging • May 31
Neptis Spólka Akcyjna, Annual General Meeting, Jun 22, 2023 Neptis Spólka Akcyjna, Annual General Meeting, Jun 22, 2023, at 09:00 Central European Standard Time. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to zł72.00, the stock trades at a trailing P/E ratio of 31.7x. Average trailing P/E is 21x in the Communications industry in Europe. Total returns to shareholders of 59% over the past three years. Reported Earnings • Aug 16
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł11.0m (up 67% from 2Q 2021). Net income: zł872.6k (down 16% from 2Q 2021). Profit margin: 7.9% (down from 16% in 2Q 2021). Aankondiging • Jun 07
Neptis Spólka Akcyjna, Annual General Meeting, Jun 30, 2022 Neptis Spólka Akcyjna, Annual General Meeting, Jun 30, 2022, at 10:00 Central European Standard Time. Aankondiging • May 26
Neptis Spólka Akcyjna to Report Fiscal Year 2021 Final Results on May 31, 2022 Neptis Spólka Akcyjna announced that they will report fiscal year 2021 final results on May 31, 2022 Reported Earnings • Nov 18
Third quarter 2021 earnings released The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: zł6.82m (up 5.0% from 3Q 2020). Net income: zł379.7k (down 18% from 3Q 2020). Profit margin: 5.6% (down from 7.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 19
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł6.58m (up 54% from 2Q 2020). Net income: zł1.04m (up zł925.0k from 2Q 2020). Profit margin: 16% (up from 2.7% in 2Q 2020). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Feb 03
New 90-day high: zł53.00 The company is up 6.0% from its price of zł49.80 on 04 November 2020. The Polish market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Communications industry, which is up 15% over the same period. Is New 90 Day High Low • Oct 22
New 90-day low: zł47.60 The company is down 1.0% from its price of zł48.00 on 24 July 2020. The Polish market is down 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Communications industry, which is flat over the same period.