DB:QIW

Stock Analysis Report

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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. More Details


Snowflake Analysis

Very undervalued with proven track record.


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

Stable Share Price: QIW has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

6.0%

QIW

4.5%

DE IT

0.1%

DE Market


1 Year Return

-33.0%

QIW

51.3%

DE IT

6.2%

DE Market

Return vs Industry: QIW underperformed the German IT industry which returned 51.3% over the past year.

Return vs Market: QIW underperformed the German Market which returned 6.2% over the past year.


Shareholder returns

QIWIndustryMarket
7 Day6.0%4.5%0.1%
30 Day-9.3%6.5%1.5%
90 Day-8.4%-8.1%5.3%
1 Year-30.3%-33.0%52.9%51.3%8.7%6.2%
3 Year3.7%-3.1%86.4%78.3%6.4%-2.3%
5 Year25.4%5.1%68.6%62.1%36.6%18.0%

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 compared to its fair value and its price relative to the market?

27.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: QIW (€14.2) is trading below our estimate of fair value (€19.55)

Significantly Below Fair Value: QIW is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: QIW is good value based on its PE Ratio (13.5x) compared to the DE IT industry average (28.8x).

PE vs Market: QIW is good value based on its PE Ratio (13.5x) compared to the German market (22.3x).


Price to Earnings Growth Ratio

PEG Ratio: QIW is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: QIW is good value based on its PB Ratio (2.7x) compared to the DE IT industry average (3.7x).


Next Steps

Future Growth

How is Qiwi forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

16.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: QIW's forecast earnings growth (16.5% per year) is above the savings rate (0.2%).

Earnings vs Market: QIW's earnings (16.5% per year) are forecast to grow slower than the German market (27.7% per year).

High Growth Earnings: QIW's earnings are forecast to grow, but not significantly.

Revenue vs Market: QIW's revenue (4.2% per year) is forecast to grow slower than the German market (6.1% per year).

High Growth Revenue: QIW's revenue (4.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: QIW's Return on Equity is forecast to be high in 3 years time (31.6%)


Next Steps

Past Performance

How has Qiwi performed over the past 5 years?

1.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: QIW has high quality earnings.

Growing Profit Margin: QIW's current net profit margins (13.8%) are lower than last year (16.1%).


Past Earnings Growth Analysis

Earnings Trend: QIW's earnings have grown by 1.9% per year over the past 5 years.

Accelerating Growth: QIW's earnings growth over the past year (1.9%) exceeds its 5-year average (1.9% per year).

Earnings vs Industry: QIW earnings growth over the past year (1.9%) exceeded the IT industry -15.3%.


Return on Equity

High ROE: QIW's Return on Equity (19.8%) is considered low.


Next Steps

Financial Health

How is Qiwi's financial position?


Financial Position Analysis

Short Term Liabilities: QIW's short term assets (RUB50.5B) exceed its short term liabilities (RUB35.8B).

Long Term Liabilities: QIW's short term assets (RUB50.5B) exceed its long term liabilities (RUB3.8B).


Debt to Equity History and Analysis

Debt Level: QIW's debt to equity ratio (13.4%) is considered satisfactory.

Reducing Debt: QIW's debt to equity ratio has increased from 5.2% to 13.4% over the past 5 years.

Debt Coverage: QIW's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: QIW's interest payments on its debt are well covered by EBIT (78.3x coverage).


Balance Sheet


Next Steps

Dividend

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

3.16%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: QIW's dividend (3.16%) is higher than the bottom 25% of dividend payers in the German market (1.17%).

High Dividend: QIW's dividend (3.16%) is low compared to the top 25% of dividend payers in the German market (3.61%).


Stability and Growth of Payments

Stable Dividend: QIW has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: QIW has only been paying a dividend for 7 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (69.2%), QIW's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: QIW's dividends in 3 years are forecast to be covered by earnings (56.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.4yrs

Average management tenure


CEO

Boris Kim (57 yo)

0.67

Tenure

Mr. Boris Kim serves as a Director of QIWI plc since May 2013 and served as Chairman of Board of Directors since June 2014 until January 15, 2020. Mr. Kim serves as Chief Executive Officer of QIWI plc sinc ...


Leadership Team

NamePositionTenureCompensationOwnership
Varvara Kiseleva
Interim CFO & Head of Investor Relations0.92yrno data0%
RUB 0
Andrey Protopopov
Chief Executive Officer of Payment Services5.25yrsno data0%
RUB 0
Sergey Solonin
Executive Chairman0.67yrno data17.3%
RUB 151.1m
Boris Kim
CEO & Director0.67yrno data1.13%
RUB 9.9m
Maria Shevchenko
Deputy CEO & COO0.67yrno datano data
Yakov Barinskiy
Investment Directorno datano datano data
Kirill Ermakov
Chief Technology Officer5.67yrsno datano data
Maria Panferova
General Counsel17.42yrsno datano data
Alexander Agakov
Head of Payment Services & Sales3.67yrsno datano data
Elena Nikonova
Deputy CFO of Financial Reporting1.17yrsno datano data
Oleg Ryazhenov-Sims
Chief Executive Officer of SOVEST Project4.33yrsno datano data

2.4yrs

Average Tenure

43yo

Average Age

Experienced Management: QIW's management team is considered experienced (2.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Sergey Solonin
Executive Chairman0.67yrno data17.3%
RUB 151.1m
Boris Kim
CEO & Director0.67yrno data1.13%
RUB 9.9m
Elena Titova
Independent Director1.25yrsno data0.0056%
RUB 49.2k
Alexey Marey
Independent Director1.25yrsno datano data
Marcus Rhodes
Independent Director7.33yrsno data0.0020%
RUB 17.6k
Alexander Karavaev
Director1.25yrsno data0.055%
RUB 478.6k
Nadiya Cherkasova
Director2.67yrsno datano data
Tatiana Zharkova
Director0.083yrno datano data

1.3yrs

Average Tenure

48yo

Average Age

Experienced Board: QIW's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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$1.033b
  • Listing Market Cap: US$873.449m
  • Shares outstanding: 62.17m
  • 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 REPR ORD CL'B'EUR0.00USUSDMay 2013
QIWDB (Deutsche Boerse AG)YesSPON ADR REPR ORD CL'B'EUR0.00DEEURMay 2013
QIWIMISX (Micex - Rts)YesSPON ADR REPR ORD CL'B'EUR0.00RURUBMay 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 Analysis2020/09/19 05:36
End of Day Share Price2020/09/18 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.