AD Plastik d.d (ZGSE:ADPL) - Share price, News & Analysis

ADPL fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	1/6
Past Performance	1/6
Financial Health	5/6
Dividends	4/6

ADPL Stock Overview

AD Plastik d.d. develops, manufactures, and sells interior and exterior automotive components worldwide.

Rewards

Revenue is forecast to grow 17.36% per year

Risk Analysis

Earnings have declined by 12.3% per year over past 5 years

Dividend of 9.03% is not well covered by earnings

Profit margins (0.7%) are lower than last year (3.8%)

Does not have a meaningful market cap (HRK368M)

AD Plastik d.d Competitors

Price History & Performance

Summary of all time highs, changes and price drops for AD Plastik d.d
Historical stock prices
Current Share Price	Kn88.60
52 Week High	Kn196.50
52 Week Low	Kn82.00
Beta	0.96
1 Month Change	-6.34%
3 Month Change	-9.59%
1 Year Change	-54.91%
3 Year Change	-52.37%
5 Year Change	-46.68%
Change since IPO	-25.55%

Shareholder Returns

	ADPL	HR Auto Components	HR Market
7D	-2.0%	-2.7%	-0.8%
1Y	-54.9%	-33.6%	-0.03%

Return vs Industry: ADPL underperformed the HR Auto Components industry which returned -33.6% over the past year.

Return vs Market: ADPL underperformed the HR Market which returned -0% over the past year.

Price Volatility

Is ADPL's price volatile compared to industry and market?
ADPL volatility
ADPL Average Weekly Movement	4.3%
Auto Components Industry Average Movement	6.2%
Market Average Movement	3.8%
10% most volatile stocks in HR Market	7.4%
10% least volatile stocks in HR Market	2.4%

Stable Share Price: ADPL is not significantly more volatile than the rest of HR stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: ADPL's weekly volatility (4%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1952	2,451	Marinko Dosen	https://www.adplastik.hr

AD Plastik d.d. develops, manufactures, and sells interior and exterior automotive components worldwide. Its exterior components include front and rear bumpers, front grille, air ducts, fender protectors, rocker claddings, mudguards, spoilers, license plate light holders, painted exterior components, underbody and battery covers, wheel arch housing, deflectors, cooling fan, and motor brackets. The company’s interior components comprise door panels, central console, trunk side trims, instrument panel and related parts, grab handles, roof console, speaker brackets, blow-moulded air ducts, floor carpets, headliners, parcel shelfs, trunk carpets, hard trims, sunvisors, air extractors, and small injection-moulded components.

AD Plastik d.d Fundamentals Summary

How do AD Plastik d.d's earnings and revenue compare to its market cap?
ADPL fundamental statistics
Market Cap	Kn367.62m
Earnings (TTM)	Kn7.46m
Revenue (TTM)	Kn1.03b

49.3x

P/E Ratio

0.4x

P/S Ratio

Is ADPL overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
ADPL income statement (TTM)
Revenue	Kn1.03b
Cost of Revenue	Kn674.16m
Gross Profit	Kn359.78m
Other Expenses	Kn352.32m
Earnings	Kn7.46m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	1.80
Gross Margin	34.80%
Net Profit Margin	0.72%
Debt/Equity Ratio	42.6%

How did ADPL perform over the long term?

See historical performance and comparison

Dividends

9.0%

Current Dividend Yield

445%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is ADPL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ADPL?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for ADPL. This is calculated by dividing ADPL's market cap by their current preferred multiple.
What is ADPL's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	Kn367.62m

ADPL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.7x
Enterprise Value/EBITDA	10x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does ADPL's PE Ratio compare to its peers?

ADPL PE Ratio vs Peers

The above table shows the PE ratio for ADPL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	16.8x

Forward PE

Price-To-Earnings vs Peers: ADPL is expensive based on its Price-To-Earnings Ratio (49.3x) compared to the peer average (16.8x).

Price to Earnings Ratio vs Industry

How does ADPL's PE Ratio compare vs other companies in the Auto Components Industry?

Price-To-Earnings vs Industry: ADPL is expensive based on its Price-To-Earnings Ratio (49.3x) compared to the European Auto Components industry average (13.2x)

Price to Earnings Ratio vs Fair Ratio

What is ADPL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ADPL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	49.3x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate ADPL's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of ADPL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ADPL (HRK88.6) is trading above our estimate of fair value (HRK72.8)

Significantly Below Fair Value: ADPL is trading above our estimate of fair value.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ADPL's PEG Ratio to determine if it is good value.

Discover undervalued companies

Future Growth

How is AD Plastik d.d forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

1/6

Future Growth Score 1/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

17.4%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if ADPL's forecast earnings growth is above the savings rate (1.5%).

Earnings vs Market: Insufficient data to determine if ADPL's earnings are forecast to grow faster than the HR market

High Growth Earnings: Insufficient data to determine if ADPL's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ADPL's revenue (17.4% per year) is forecast to grow faster than the HR market (3.7% per year).

High Growth Revenue: ADPL's revenue (17.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if ADPL's Return on Equity is forecast to be high in 3 years time

Discover growth companies

Past Performance

How has AD Plastik d.d performed over the past 5 years?

Past Performance Score

1/6

Past Performance Score 1/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-12.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ADPL has high quality earnings.

Growing Profit Margin: ADPL's current net profit margins (0.7%) are lower than last year (3.8%).

Past Earnings Growth Analysis

Earnings Trend: ADPL's earnings have declined by 12.3% per year over the past 5 years.

Accelerating Growth: ADPL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ADPL had negative earnings growth (-83.3%) over the past year, making it difficult to compare to the Auto Components industry average (38%).

Return on Equity

High ROE: ADPL's Return on Equity (0.9%) is considered low.

Discover strong past performing companies

Financial Health

How is AD Plastik d.d's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: ADPL's short term assets (HRK447.5M) exceed its short term liabilities (HRK334.8M).

Long Term Liabilities: ADPL's short term assets (HRK447.5M) exceed its long term liabilities (HRK251.5M).

Debt to Equity History and Analysis

Debt Level: ADPL's net debt to equity ratio (37.6%) is considered satisfactory.

Reducing Debt: ADPL's debt to equity ratio has reduced from 50.7% to 42.6% over the past 5 years.

Debt Coverage: ADPL's debt is well covered by operating cash flow (35.9%).

Interest Coverage: ADPL's interest payments on its debt are not well covered by EBIT (0.6x coverage).

Balance Sheet

Discover healthy companies

Dividend

What is AD Plastik d.d current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

9.03%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: ADPL's dividend (9.03%) is higher than the bottom 25% of dividend payers in the HR market (1.85%).

High Dividend: ADPL's dividend (9.03%) is in the top 25% of dividend payers in the HR market (4.6%)

Stability and Growth of Payments

Stable Dividend: ADPL's dividend payments have been volatile in the past 10 years.

Growing Dividend: ADPL's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (444.9%), ADPL's dividend payments are not well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (64.4%), ADPL's dividend payments are covered by cash flows.

Discover strong dividend paying companies

Management

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

7.4yrs

Average management tenure

CEO

Marinko Dosen (58 yo)

7.42yrs

Tenure

Mr. Marinko Dosen has been the President of Management Board at AD Plastik d.d. since 2015 and has been its Member of Management Board since February 6, 2015. Mr. Dosen began his career in Croatian petroch...

Leadership Team

Experienced Management: ADPL's management team is seasoned and experienced (7.4 years average tenure).

Board Members

Experienced Board: ADPL's board of directors are considered experienced (3.4 years average tenure).

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.

Data	Last Updated (UTC time)
Company Analysis	2022/06/25 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31