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Polwax

DB:1LW
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1LW
DB
PLN66M
Market Cap
  1. Home
  2. DE
  3. Materials
Company description

Polwax S.A. produces and distributes refined and deodorized paraffin, waxes, and specialty industrial paraffin compositions. The last earnings update was 63 days ago. More info.


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1LW Share Price and Events
7 Day Returns
0.5%
DB:1LW
1.3%
DE Chemicals
-1%
DE Market
1 Year Returns
-12.4%
DB:1LW
-17.2%
DE Chemicals
-6.2%
DE Market
1LW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Polwax (1LW) 0.5% -1.2% -4.2% -12.4% -57.4% -
DE Chemicals 1.3% 0.9% -9.3% -17.2% 3.2% -4.1%
DE Market -1% 2.1% -1.8% -6.2% 10.4% 12.6%
1 Year Return vs Industry and Market
  • 1LW outperformed the Chemicals industry which returned -17.2% over the past year.
  • 1LW underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
1LW
Industry
5yr Volatility vs Market

Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Polwax to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Polwax.

DB:1LW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 6.9%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:1LW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 7.1%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.89
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.89 (1 + (1- 19%) (0.41%))
0.928
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.928 * 7.14%)
6.85%

Discounted Cash Flow Calculation for DB:1LW using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Polwax is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:1LW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 6.85%)
2020 2.69 Est @ 58.69% 2.51
2021 3.79 Est @ 41.15% 3.32
2022 4.89 Est @ 28.88% 4.01
2023 5.88 Est @ 20.28% 4.51
2024 6.72 Est @ 14.27% 4.82
2025 7.39 Est @ 10.05% 4.97
2026 7.92 Est @ 7.11% 4.98
2027 8.32 Est @ 5.04% 4.89
2028 8.61 Est @ 3.6% 4.74
2029 8.84 Est @ 2.59% 4.55
Present value of next 10 years cash flows PLN43.30
DB:1LW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= PLN8.84 × (1 + 0.23%) ÷ (6.85% – 0.23%)
PLN133.69
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN133.69 ÷ (1 + 6.85%)10
PLN68.90
DB:1LW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN43.30 + PLN68.90
PLN112.20
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN112.20 / 10.30
PLN10.89
DB:1LW Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:1LW represents 0.2276x of WSE:PWX
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.2276x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (PLN) x Listing Adjustment Factor
= PLN 10.89 x 0.2276
€2.48
Value per share (EUR) From above. €2.48
Current discount Discount to share price of €1.47
= -1 x (€1.47 - €2.48) / €2.48
40.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Polwax is available for.
Intrinsic value
41%
Share price is €1.47 vs Future cash flow value of €2.48
Current Discount Checks
For Polwax to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Polwax's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Polwax's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Polwax's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Polwax's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1LW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PLN PLN1.33
WSE:PWX Share Price ** WSE (2019-07-16) in PLN PLN6.45
Germany Chemicals Industry PE Ratio Median Figure of 16 Publicly-Listed Chemicals Companies 19.8x
Germany Market PE Ratio Median Figure of 419 Publicly-Listed Companies 19.92x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Polwax.

DB:1LW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= WSE:PWX Share Price ÷ EPS (both in PLN)

= 6.45 ÷ 1.33

4.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Polwax is good value based on earnings compared to the DE Chemicals industry average.
  • Polwax is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Polwax's expected growth come at a high price?
Raw Data
DB:1LW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
0.1%per year
Germany Chemicals Industry PEG Ratio Median Figure of 13 Publicly-Listed Chemicals Companies 1.83x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Polwax, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Polwax's assets?
Raw Data
DB:1LW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PLN PLN11.59
WSE:PWX Share Price * WSE (2019-07-16) in PLN PLN6.45
Germany Chemicals Industry PB Ratio Median Figure of 18 Publicly-Listed Chemicals Companies 1.73x
Germany Market PB Ratio Median Figure of 565 Publicly-Listed Companies 1.75x
DB:1LW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WSE:PWX Share Price ÷ Book Value per Share (both in PLN)

= 6.45 ÷ 11.59

0.56x

* Primary Listing of Polwax.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Polwax is good value based on assets compared to the DE Chemicals industry average.
X
Value checks
We assess Polwax's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Chemicals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Chemicals industry average (and greater than 0)? (1 check)
  5. Polwax has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Polwax expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Polwax, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
0.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Polwax expected to grow at an attractive rate?
  • Polwax's earnings growth is positive but not above the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Polwax's earnings growth is positive but not above the Germany market average.
  • Unable to compare Polwax's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:1LW Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1LW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 0.1%
Germany Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 6.1%
Germany Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:1LW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1LW Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
DB:1LW Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-03-31 269 22 14
2018-12-31 278 41 18
2018-09-30 275 20 16
2018-06-30 271 15 14
2018-03-31 275 16 15
2017-12-31 283 25 17
2017-09-30 292 19 19
2017-06-30 288 16 20
2017-03-31 299 18 21
2016-12-31 295 21 21
2016-09-30 309 3 24
2016-06-30 296 16 24

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Polwax's earnings are expected to grow by 0.1% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Polwax is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:1LW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Polwax Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1LW Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
DB:1LW Past Financials Data
Date (Data in PLN Millions) EPS *
2019-03-31 1.33
2018-12-31 1.70
2018-09-30 1.52
2018-06-30 1.41
2018-03-31 1.47
2017-12-31 1.67
2017-09-30 1.88
2017-06-30 1.92
2017-03-31 2.03
2016-12-31 2.04
2016-09-30 2.35
2016-06-30 2.39

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Polwax will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Polwax's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Polwax has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Polwax performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Polwax's growth in the last year to its industry (Chemicals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Polwax's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Polwax's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Polwax's 1-year earnings growth is negative, it can't be compared to the DE Chemicals industry average.
Earnings and Revenue History
Polwax's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Polwax Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1LW Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 268.93 13.72 23.67
2018-12-31 277.93 17.56 23.76
2018-09-30 275.19 15.66 25.60
2018-06-30 271.48 14.50 26.53
2018-03-31 274.68 15.16 26.08
2017-12-31 283.47 17.21 25.95
2017-09-30 292.13 19.44 24.88
2017-06-30 288.05 19.75 23.92
2017-03-31 298.75 20.86 23.72
2016-12-31 294.61 20.88 23.44
2016-09-30 308.82 23.83 24.49
2016-06-30 295.89 24.37 23.24
2016-03-31 280.89 23.29 22.75
2015-12-31 280.68 23.85 22.17
2015-09-30 261.92 22.31 21.26
2015-06-30 264.27 21.14 21.29
2015-03-31 266.57 22.21 20.82
2014-12-31 258.18 22.41 20.50
2014-09-30 263.21 24.67 20.10
2014-06-30 250.91 22.50 20.11
2014-03-31 243.59 21.20 19.47
2013-12-31 241.09 19.97 19.67
2012-12-31 260.48 19.41 20.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Polwax has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Polwax used its assets more efficiently than the DE Chemicals industry average last year based on Return on Assets.
  • Polwax's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Polwax's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Chemicals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Polwax has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Polwax's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Polwax's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Polwax is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Polwax's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Polwax's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 295.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Polwax Company Filings, last reported 3 months ago.

DB:1LW Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 119.42 0.00 12.09
2018-12-31 121.90 36.83 4.01
2018-09-30 117.44 0.41 3.42
2018-06-30 108.19 0.48 1.08
2018-03-31 105.71 13.86 1.22
2017-12-31 104.34 31.98 1.82
2017-09-30 101.78 0.00 2.91
2017-06-30 93.69 0.00 3.24
2017-03-31 90.55 0.00 3.02
2016-12-31 87.13 27.27 2.33
2016-09-30 82.34 0.00 2.53
2016-06-30 73.94 0.00 0.39
2016-03-31 80.43 0.00 6.77
2015-12-31 77.00 31.74 1.64
2015-09-30 69.26 0.59 0.75
2015-06-30 60.32 2.00 2.94
2015-03-31 69.42 3.41 7.57
2014-12-31 65.44 38.97 0.23
2014-09-30 59.22 6.23 2.10
2014-06-30 51.45 40.19 1.65
2014-03-31 53.01 67.44 2.39
2013-12-31 53.01 67.20 2.39
2012-12-31 37.05 53.45 1.60
  • Polwax's level of debt (0.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (126.7% vs 0.2% today).
  • Debt is well covered by operating cash flow (7947.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 22.7x coverage).
X
Financial health checks
We assess Polwax's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Polwax has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Polwax's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Polwax dividends.
If you bought €2,000 of Polwax shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Polwax's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Polwax's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:1LW Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:1LW Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
DB:1LW Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2018-04-05 0.000 0.000
2017-11-16 0.000 0.000
2017-09-06 0.000 0.000
2017-05-12 0.000 0.000
2017-03-28 0.000 0.000
2016-05-13 1.060 6.459
2016-03-01 1.060 6.124
2015-08-31 1.220 7.816
2015-03-18 1.220 6.772

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Polwax has not reported any payouts.
  • Unable to verify if Polwax's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Polwax's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Polwax has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Polwax's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Polwax afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Polwax has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Polwax has no CEO, or we have no data on them.
Management Team Tenure

Average tenure of the Polwax management team in years:

7.2
Average Tenure
  • The average tenure for the Polwax management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Dominik Tomczyk

TITLE
President of the Management Board & General Director
TENURE
7.2 yrs

Jacek Stelmach

TITLE
Vice-President of the Management Board & Director of Operations
TENURE
6.2 yrs

Piotr Kosinski

TITLE
Vice-President of the Management Board & CFO
TENURE
7.2 yrs

Halina Kufel

TITLE
Chief Accountant
Board of Directors

Tomasz Biel

TITLE
Independent Vice-Chairman of the Supervisory Board

Monika Gaszewska

TITLE
Independent Member of the Supervisory Board
TENURE
7.2 yrs

Domagala Grzegorz

TITLE
Member of Supervisory Board

Nadolski Piotr

TITLE
Member of Supervisory Board

Jolanta Ilowska

TITLE
Member of the Supervisory Board
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Polwax's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Polwax has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Polwax S.A. produces and distributes refined and deodorized paraffin, waxes, and specialty industrial paraffin compositions. The company also offers anti-corrosion agents, anti-caking agents, casting waxes, hot-melt adhesives, and other industrial products, as well as candles and grave lights. Its products are used in fertilizer, rubber, food, and paper and packaging industries; the production of varnishes, paints, and construction materials; and the manufacture of wood impregnations, explosives, candles, and grave lights, as well as in investment casting and wood processing activities, and other special applications. Polwax S.A. was founded in 2012 and is based in Jaslo, Poland.

Details
Name: Polwax S.A.
1LW
Exchange: DB
Founded: 2012
PLN15,602,941
10,300,000
Website: http://www.polwax.pl
Address: Polwax S.A.
3 Maja 101,
Jaslo,
38-200,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE PWX Common Bearer Shares Warsaw Stock Exchange PL PLN 06. Oct 2014
DB 1LW Common Bearer Shares Deutsche Boerse AG DE EUR 06. Oct 2014
Number of employees
Current staff
Staff numbers
0
Polwax employees.
Industry
Specialty Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 21:55
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/04/09
Last earnings filing: 2019/05/14
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.