Podravka d.d (ZGSE:PODR) - Share price, News & Analysis

PODR fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	2/6
Past Performance	4/6
Financial Health	6/6
Dividends	3/6

PODR Stock Overview

Podravka d.d. engages in the production and sale of a range of food products.

Rewards

Trading at 40.8% below our estimate of its fair value

Earnings are forecast to grow 11.47% per year

Earnings grew by 11.3% over the past year

Risk Analysis

Unstable dividend track record

Podravka d.d Competitors

Cakovecki mlinovi d.d

ZGSE:CKML

Kn787.2m

Granolio d.d

ZGSE:GRNL

Kn93.2m

Price History & Performance

Summary of all time highs, changes and price drops for Podravka d.d
Historical stock prices
Current Share Price	Kn594.00
52 Week High	Kn724.00
52 Week Low	Kn548.00
Beta	0.30
1 Month Change	-2.30%
3 Month Change	-10.81%
1 Year Change	0.68%
3 Year Change	45.59%
5 Year Change	74.62%
Change since IPO	230.00%

Recent News & Updates

Jan 17

A Look At The Fair Value Of Podravka d.d. (ZGSE:PODR)

Today we will run through one way of estimating the intrinsic value of Podravka d.d. ( ZGSE:PODR ) by taking the...

Shareholder Returns

	PODR	HR Food	HR Market
7D	-1.3%	-1.9%	-0.6%
1Y	0.7%	4.1%	-9.2%

Return vs Industry: PODR underperformed the HR Food industry which returned 4.1% over the past year.

Return vs Market: PODR exceeded the HR Market which returned -9.2% over the past year.

Price Volatility

Is PODR's price volatile compared to industry and market?
PODR volatility
PODR Average Weekly Movement	4.4%
Food Industry Average Movement	5.4%
Market Average Movement	4.5%
10% most volatile stocks in HR Market	9.3%
10% least volatile stocks in HR Market	2.9%

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

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

About the Company

Founded	Employees	CEO	Website
1934	6,387	Martina Dalic	https://www.podravka.hr

Podravka d.d. engages in the production and sale of a range of food products. The company operates through BP Culinary; BP Baby Food, Sweets and Snacks; BP Podravka Food; BP Žito and Lagris; BP Meat Products, Meat Solutions and Savoury Spreads; BP Fish; Pharmaceuticals; and Other segments. The BP Culinary segment offers seasonings, soups, ready-to-cook meals and bouillons, food mixes, and monospices.

Podravka d.d Fundamentals Summary

How do Podravka d.d's earnings and revenue compare to its market cap?
PODR fundamental statistics
Market Cap	Kn4.17b
Earnings (TTM)	Kn292.84m
Revenue (TTM)	Kn4.72b

14.2x

P/E Ratio

0.9x

P/S Ratio

Is PODR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PODR income statement (TTM)
Revenue	Kn4.72b
Cost of Revenue	Kn3.01b
Gross Profit	Kn1.72b
Other Expenses	Kn1.42b
Earnings	Kn292.84m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	41.71
Gross Margin	36.30%
Net Profit Margin	6.20%
Debt/Equity Ratio	8.8%

How did PODR perform over the long term?

See historical performance and comparison

Dividends

2.2%

Current Dividend Yield

31%

Payout Ratio

Does PODR pay a reliable dividends?

See PODR dividend history and benchmarks

When do you need to buy PODR by to receive an upcoming dividend?
Podravka d.d dividend dates
Ex Dividend Date	Jul 13 2022
Dividend Pay Date	Aug 12 2022
Days until Ex dividend	58 days
Days until Dividend pay date	88 days

Does PODR pay a reliable dividends?

See PODR dividend history and benchmarks

Valuation

Is Podravka d.d undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

40.8%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: PODR (HRK594) is trading below our estimate of fair value (HRK1003.92)

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

Price To Earnings Ratio

PE vs Industry: PODR is good value based on its PE Ratio (14.2x) compared to the HR Food industry average (22.6x).

PE vs Market: PODR is good value based on its PE Ratio (14.2x) compared to the HR market (16x).

Price to Earnings Growth Ratio

PEG Ratio: PODR is poor value based on its PEG Ratio (1.2x)

Price to Book Ratio

PB vs Industry: PODR is overvalued based on its PB Ratio (1.1x) compared to the HR Food industry average (0.9x).

Future Growth

How is Podravka d.d forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

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

11.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PODR's forecast earnings growth (11.5% per year) is above the savings rate (1.5%).

Earnings vs Market: PODR's earnings (11.5% per year) are forecast to grow faster than the HR market (9.2% per year).

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

Revenue vs Market: PODR's revenue (2.8% per year) is forecast to grow slower than the HR market (3.3% per year).

High Growth Revenue: PODR's revenue (2.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PODR's Return on Equity is forecast to be low in 3 years time (7.8%).

Past Performance

How has Podravka d.d performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

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

22.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PODR has high quality earnings.

Growing Profit Margin: PODR's current net profit margins (6.2%) are higher than last year (6%).

Past Earnings Growth Analysis

Earnings Trend: PODR's earnings have grown significantly by 22.9% per year over the past 5 years.

Accelerating Growth: PODR's earnings growth over the past year (11.3%) is below its 5-year average (22.9% per year).

Earnings vs Industry: PODR earnings growth over the past year (11.3%) exceeded the Food industry 7.7%.

Return on Equity

High ROE: PODR's Return on Equity (7.9%) is considered low.

Financial Health

How is Podravka d.d's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

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

Financial Position Analysis

Short Term Liabilities: PODR's short term assets (HRK2.3B) exceed its short term liabilities (HRK1.1B).

Long Term Liabilities: PODR's short term assets (HRK2.3B) exceed its long term liabilities (HRK308.1M).

Debt to Equity History and Analysis

Debt Level: PODR's net debt to equity ratio (3.2%) is considered satisfactory.

Reducing Debt: PODR's debt to equity ratio has reduced from 47.7% to 8.8% over the past 5 years.

Debt Coverage: PODR's debt is well covered by operating cash flow (191.9%).

Interest Coverage: PODR earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is Podravka 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

2.19%

Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: PODR's dividend (2.19%) is higher than the bottom 25% of dividend payers in the HR market (1.81%).

High Dividend: PODR's dividend (2.19%) is low compared to the top 25% of dividend payers in the HR market (4.44%).

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, PODR has been paying a dividend for less than 10 years.

Growing Dividend: PODR's dividend payments have increased, but the company has only paid a dividend for 6 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (31.2%), PODR's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (21.3%), PODR's dividend payments are well covered by cash flows.

Next Steps

Explore strong dividend paying companies in the Food, Beverage & Tobacco industry.

Management

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

5.0yrs

Average management tenure

CEO

Martina Dalic

1.25yrs

Tenure

Dr. Martina Dalic, M. Sc., PhD, is the President of the Management Board at Podravka d.d. since February 3, 2021. She served as Chairwoman and Member of Management Board at Partner banka d.d. Zagreb since...

Leadership Team

Experienced Management: PODR's management team is seasoned and experienced (5 years average tenure).

Board Members

Experienced Board: PODR's board of directors are considered experienced (3.7 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	2022/05/15 00:00
End of Day Share Price	2022/05/13 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31