DB:7PZ

Stock Analysis Report

Powszechny Zaklad Ubezpieczen

Executive Summary

Powszechny Zaklad Ubezpieczen SA provides life and non-life insurance products and services to individuals, institutional, and small and medium enterprises in Poland, the Baltic States, and Ukraine.

Snowflake

Fundamentals

Proven track record average dividend payer.


Similar Companies

Share Price & News

How has Powszechny Zaklad Ubezpieczen's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.8%

7PZ

0.5%

DE Insurance

0.1%

DE Market


1 Year Return

-4.5%

7PZ

15.6%

DE Insurance

-4.5%

DE Market

7PZ underperformed the Insurance industry which returned 15.6% over the past year.

7PZ matched the Germany Market (-4.5%) over the past year.


Share holder returns

7PZIndustryMarket
7 Day-1.8%0.5%0.1%
30 Day2.5%5.1%6.2%
90 Day-13.5%1.3%1.4%
1 Year2.8%-4.5%20.7%15.6%-1.5%-4.5%
3 Year79.8%40.2%68.5%48.2%16.5%6.5%
5 Year5.3%-23.7%97.2%57.9%33.8%15.5%

Price Volatility Vs. Market

How volatile is Powszechny Zaklad Ubezpieczen's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Powszechny Zaklad Ubezpieczen undervalued based on future cash flows and its price relative to the stock market?

39%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Powszechny Zaklad Ubezpieczen's share price is below the future cash flow value, and at a moderate discount (> 20%).

Powszechny Zaklad Ubezpieczen's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

Powszechny Zaklad Ubezpieczen is good value based on earnings compared to the DE Insurance industry average.

Powszechny Zaklad Ubezpieczen is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

Powszechny Zaklad Ubezpieczen is poor value based on expected growth next year.


Price Based on Value of Assets

Powszechny Zaklad Ubezpieczen is overvalued based on assets compared to the DE Insurance industry average.


Next Steps

Future Growth

How is Powszechny Zaklad Ubezpieczen expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

1.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Powszechny Zaklad Ubezpieczen's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.

Powszechny Zaklad Ubezpieczen's earnings are expected to grow by 1.7% yearly, however this is not considered high growth (20% yearly).

Powszechny Zaklad Ubezpieczen's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.

Powszechny Zaklad Ubezpieczen's earnings growth is positive but not above the Germany market average.

Powszechny Zaklad Ubezpieczen's earnings growth is expected to exceed the low risk savings rate of 0.2%.


Earnings per Share Growth Estimates


Future Return on Equity

Powszechny Zaklad Ubezpieczen is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Powszechny Zaklad Ubezpieczen performed over the past 5 years?

2.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Powszechny Zaklad Ubezpieczen's year on year earnings growth rate has been positive over the past 5 years.

Powszechny Zaklad Ubezpieczen's 1-year earnings growth exceeds its 5-year average (14.5% vs 2.9%)

Powszechny Zaklad Ubezpieczen's earnings growth has not exceeded the DE Insurance industry average in the past year (14.5% vs 15.2%).


Return on Equity

Powszechny Zaklad Ubezpieczen has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Powszechny Zaklad Ubezpieczen used its assets more efficiently than the DE Insurance industry average last year based on Return on Assets.


Return on Capital Employed

Powszechny Zaklad Ubezpieczen has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Powszechny Zaklad Ubezpieczen's financial position?


Financial Position Analysis

Powszechny Zaklad Ubezpieczen's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Powszechny Zaklad Ubezpieczen's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Powszechny Zaklad Ubezpieczen's level of debt (76.8%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (5.7% vs 76.8% today).

Debt is not well covered by operating cash flow (19.3%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 4.1x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 3.1x debt.


Next Steps

Dividend

What is Powszechny Zaklad Ubezpieczen's current dividend yield, its reliability and sustainability?

7.90%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Powszechny Zaklad Ubezpieczen's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.38%).

Powszechny Zaklad Ubezpieczen's dividend is above the markets top 25% of dividend payers in Germany (3.88%).

Powszechny Zaklad Ubezpieczen has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).

Dividend payments have increased, but Powszechny Zaklad Ubezpieczen only paid a dividend in the past 9 years.


Current Payout to Shareholders

Dividends paid are covered by earnings (1.4x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be covered by earnings (1.3x coverage).


Next Steps

Management

What is the CEO of Powszechny Zaklad Ubezpieczen's salary, the management and board of directors tenure and is there insider trading?

2.3yrs

Average management tenure


CEO

Pawel Surówka 0

2.4yrs

Tenure

zł793,000

Compensation

Mr. Pawel Surowka, CFA has been President of the Management Board at Powszechny Zaklad Ubezpieczen SA since April 13, 2017. Mr. Surowka has been Financial Advisor at Bank of America Merrill Lynch - Paris,  ...


CEO Compensation Analysis

Pawel's remuneration is lower than average for companies of similar size in Germany.

Pawel's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

2.3yrs

Average Tenure

The tenure for the Powszechny Zaklad Ubezpieczen management team is about average.


Board Age and Tenure

2.5yrs

Average Tenure

The average tenure for the Powszechny Zaklad Ubezpieczen board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Alojzy Nowak

    Secretary of the Supervisory Board

    • Tenure: 7.3yrs
    • Compensation: zł170.00k
  • Pawel Surówka

    President of the Management Board & CEO

    • Tenure: 2.4yrs
    • Compensation: zł793.00k
  • Maciej Rapkiewicz

    Member of Management Board

    • Tenure: 3.5yrs
    • Compensation: zł766.00k
  • Katarzyna Lubkowska

    Director of the Accounting Department

    • Tenure: 0yrs
  • Tomasz Kulik

    Management Board Member & CFO

    • Tenure: 2.9yrs
    • Compensation: zł766.00k
  • Malgorzata Sadurska

    Member of Management Board

    • Tenure: 2.3yrs
    • Compensation: zł766.00k
  • Marcin Eckert

    Group MD for Corporate Affairs & Member of the Management Board

    • Tenure: 0.7yrs
  • Magdalena Komaracka

    Director of IR

    • Tenure: 0yrs
  • Adam Brzozowski

    Member of the Management Board

    • Tenure: 0.3yrs
  • Elzbieta Häuser

    Member of the Management Board

    • Tenure: 0.3yrs

Board Members

  • Alojzy Nowak

    Secretary of the Supervisory Board

    • Tenure: 7.3yrs
    • Compensation: zł170.00k
  • Maciej Szyszko (45yo)

    Chairman of Kommersant Ukraine

    • Tenure: 8.3yrs
  • Marcin Chludzinski

    Supervisory Board Member

    • Tenure: 3.7yrs
    • Compensation: zł156.00k
  • Maciej Zaborowski

    Supervisory Board Member

    • Tenure: 3.7yrs
    • Compensation: zł156.00k
  • Pawel Górecki

    Vice Chairman of the Supervisory Board

    • Tenure: 1.7yrs
    • Compensation: zł170.00k
  • Agata Górnicka

    Supervisory Board Member

    • Tenure: 2.6yrs
    • Compensation: zł156.00k
  • Robert Snitko

    Supervisory Board Member

    • Tenure: 2.4yrs
    • Compensation: zł156.00k
  • Maciej Lopinski (72yo)

    Chairman of the Supervisory Board

    • Tenure: 1.7yrs
    • Compensation: zł169.00k
  • Robert Jastrzebski

    Supervisory Board Member

    • Tenure: 1.5yrs
    • Compensation: zł127.00k
  • Tomasz Kuczur

    Supervisory Board Member

    • Tenure: 0.3yrs

Company Information

Powszechny Zaklad Ubezpieczen SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Powszechny Zaklad Ubezpieczen SA
  • Ticker: 7PZ
  • Exchange: DB
  • Founded: 1803
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Market Cap: zł32.580b
  • Listing Market Cap: zł7.444b
  • Shares outstanding: 863.51m
  • Website: https://www.pzu.pl

Number of Employees


Location

  • Powszechny Zaklad Ubezpieczen SA
  • Al. Jana Pawla II 24
  • Warsaw
  • 00-133
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PZUWSE (Warsaw Stock Exchange)YesBearer SharesPLPLNMay 2010
0MYYLSE (London Stock Exchange)YesBearer SharesGBPLNMay 2010
7PZDB (Deutsche Boerse AG)YesBearer SharesDEEURMay 2010
PZUWBATS-CHIXE (BATS 'Chi-X Europe')YesBearer SharesGBPLNMay 2010

Biography

Powszechny Zaklad Ubezpieczen SA provides life and non-life insurance products and services to individuals, institutional, and small and medium enterprises in Poland, the Baltic States, and Ukraine. It ope ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/20 21:23
End of Day Share Price2019/09/20 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.