DB:QIW

Stock Analysis Report

Executive Summary

Qiwi plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russia, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally.

Snowflake

Fundamentals

Undervalued with excellent balance sheet.


Similar Companies

Share Price & News

How has Qiwi's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.0%

DB:QIW

2.1%

DE IT

0.4%

DE Market


1 Year Return

90.7%

DB:QIW

-13.3%

DE IT

-4.5%

DE Market

QIW outperformed the IT industry which returned -13.2% over the past year.

QIW outperformed the Market in Germany which returned -3.8% over the past year.


Share holder returns

QIWIndustryMarket
7 Day-1.0%2.1%0.4%
30 Day23.4%8.7%6.4%
90 Day21.2%0.8%0.9%
1 Year96.0%90.7%-12.9%-13.3%-1.5%-4.5%
3 Year62.1%50.8%161.6%155.2%18.4%8.3%
5 Year-4.1%-18.0%334.6%315.9%32.0%14.0%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

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

Qiwi's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Qiwi is good value based on earnings compared to the DE IT industry average.

Qiwi is good value based on earnings compared to the Germany market.


Price Based on Expected Growth

Qiwi is poor value based on expected growth next year.


Price Based on Value of Assets

Qiwi is good value based on assets compared to the DE IT industry average.


Next Steps

Future Growth

How is Qiwi expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

18.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Qiwi's revenue is expected to grow by 6.6% yearly, however this is not considered high growth (20% yearly).

Qiwi's earnings are expected to grow by 18.5% yearly, however this is not considered high growth (20% yearly).

Qiwi's revenue growth is expected to exceed the Germany market average.

Qiwi's earnings growth is expected to exceed the Germany market average.

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


Earnings per Share Growth Estimates


Future Return on Equity

Qiwi is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has Qiwi performed over the past 5 years?

-6.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Qiwi's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.

Qiwi's 1-year earnings growth exceeds its 5-year average (52.4% vs -6.8%)

Qiwi's earnings growth has exceeded the DE IT industry average in the past year (52.4% vs 23.5%).


Return on Equity

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


Return on Assets

Qiwi used its assets more efficiently than the DE IT industry average last year based on Return on Assets.


Return on Capital Employed

Qiwi has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Qiwi's financial position?


Financial Position Analysis

Qiwi is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Qiwi's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Qiwi's level of debt (5.6%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (2.5% vs 5.6% today).

Debt is well covered by operating cash flow (1415.4%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 1138x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 35.6x debt.


Next Steps

Dividend

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

9.22%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Qiwi's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.41%).

Qiwi's dividend is above the markets top 25% of dividend payers in Germany (3.85%).

Qiwi 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 Qiwi only paid a dividend in the past 6 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.2x coverage).


Future Payout to Shareholders

Dividends after 3 years are not well covered by earnings (1x coverage).


Next Steps

Management

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

5.0yrs

Average management tenure


CEO

Sergey Solonin (45yo)

6.9yrs

Tenure

0

Mr. Sergey A. Solonin has been the Chief Executive Officer of Qiwi Plc since October 2012. Mr. Solonin is a Managing Partner of Target Global Fintech Opportunities Fund at Target Global. He has been the Ch ...


Management Age and Tenure

5.0yrs

Average Tenure

42.5yo

Average Age

The tenure for the Qiwi management team is about average.


Board Age and Tenure

3.5yrs

Average Tenure

46yo

Average Age

The tenure for the Qiwi board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Sergey Solonin (45yo)

    CEO & Director

    • Tenure: 6.9yrs
  • Andrey Popkov (58yo)

    Head of Compliance

    • Tenure: 5.7yrs
  • Maria Panferova (40yo)

    General Counsel

    • Tenure: 16.4yrs
  • Yakov Barinskiy

    Investment Director

    • Tenure: 0yrs
  • Andrey Protopopov (37yo)

    Head of IT & Product

    • Tenure: 4.3yrs
  • Varvara Kiseleva

    Deputy CFO for Capital Markets & Head of Investor Relations

    • Tenure: 0yrs
  • Oleg Ryazhenov-Sims

    Chief Executive Officer of SOVEST Project

    • Tenure: 0yrs
  • Kirill Ermakov

    Chief Technology Office

    • Tenure: 0yrs
  • Vladislav Poshmorga

    Chief Financial Officer

    • Tenure: 0.2yrs
  • Elena Nikonova

    Deputy CFO of Financial Reporting

    • Tenure: 0.2yrs

Board Members

  • Ron Kalifa (58yo)

    Independent Director

    • Tenure: 5.3yrs
  • Elena Titova (52yo)

    Independent Director

    • Tenure: 0.3yrs
  • Alexey Marey (42yo)

    Independent Director

    • Tenure: 0.3yrs
  • Sergey Solonin (45yo)

    CEO & Director

    • Tenure: 6.9yrs
  • Marcus Rhodes (58yo)

    Independent Director

    • Tenure: 6.3yrs
  • Veniamin Polyantsev (38yo)

    Director

    • Tenure: 1.7yrs
  • Alexander Karavaev (44yo)

    Director

    • Tenure: 0.3yrs
  • Osama Bedier (43yo)

    Independent Director

    • Tenure: 5.3yrs
  • Boris Kim (56yo)

    Chairman of the Board

    • Tenure: 5.3yrs
  • Nadiya Cherkasova (47yo)

    Director

    • Tenure: 1.7yrs

Company Information

Qiwi plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Qiwi plc
  • Ticker: QIW
  • Exchange: DB
  • Founded: 2007
  • Industry: Data Processing and Outsourced Services
  • Sector: Software
  • Market Cap: US$1.398b
  • Listing Market Cap: US$1.264b
  • Shares outstanding: 61.64m
  • Website: https://www.qiwi.com

Number of Employees


Location

  • Qiwi plc
  • Kennedy Business Centre
  • 2nd floor
  • Nicosia
  • 1087
  • Cyprus

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
QIWINasdaqGS (Nasdaq Global Select)YesSPON ADR REP BUSUSDMay 2013
QIWDB (Deutsche Boerse AG)YesSPON ADR REP BDEEURMay 2013
QIWIMISX (Micex - Rts)YesSPON ADR REP BRURUBMay 2013

Biography

Qiwi plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russia, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally. It operat ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/17 21:55
End of Day Share Price2019/09/17 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.