BUSE:ANY

Stock Analysis Report

ANY Biztonsági Nyomda Nyrt

Executive Summary

ANY Biztonsági Nyomda Nyrt. operates as a security printing company in Europe.

Rewards

Trading at 10.7% below its fair value

Risk Analysis

Earnings have declined by -1.36% per year over past 5 years

Dividend of 5.68% is not well covered by earnings or forecast to be in the next 3 years

Has a high level of debt

Does not have a meaningful market cap (HUF20B)



Snowflake Analysis

Mediocre balance sheet second-rate dividend payer.

Share Price & News

How has ANY Biztonsági Nyomda Nyrt's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-0.4%

ANY

1.4%

HU Commercial Services

-2.8%

HU Market


1 Year Return

5.3%

ANY

14.4%

HU Commercial Services

5.6%

HU Market

Return vs Industry: ANY underperformed the Hungarian Commercial Services industry which returned 15.1% over the past year.

Return vs Market: ANY matched the Hungarian Market which returned 5.6% over the past year.


Shareholder returns

ANYIndustryMarket
7 Day-0.4%1.4%-2.8%
30 Day1.5%1.6%-3.4%
90 Day3.7%8.7%5.9%
1 Year12.0%5.3%18.0%14.4%8.5%5.6%
3 Year38.4%15.3%16.1%5.8%45.6%33.6%
5 Year119.5%60.3%35.0%14.4%186.4%150.2%

Price Volatility Vs. Market

How volatile is ANY Biztonsági Nyomda Nyrt's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is ANY Biztonsági Nyomda Nyrt undervalued compared to its fair value and its price relative to the market?

10.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ANY (HUF1390) is trading below our estimate of fair value (HUF1557.19)

Significantly Below Fair Value: ANY is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ANY is good value based on its PE Ratio (16.7x) compared to the Commercial Services industry average (18.4x).

PE vs Market: ANY is poor value based on its PE Ratio (16.7x) compared to the Hungarian market (15.4x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: ANY is overvalued based on its PB Ratio (3.4x) compared to the XE Commercial Services industry average (1.7x).


Next Steps

Future Growth

How is ANY Biztonsági Nyomda Nyrt forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

3.2%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if ANY's forecast earnings growth is above the savings rate (0.7%).

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

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

Revenue vs Market: ANY's revenue (3.2% per year) is forecast to grow slower than the Hungarian market (5.1% per year).

High Growth Revenue: ANY's revenue (3.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ANY's Return on Equity is forecast to be high in 3 years time (22.4%)


Next Steps

Past Performance

How has ANY Biztonsági Nyomda Nyrt performed over the past 5 years?

-1.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ANY has high quality earnings.

Growing Profit Margin: ANY's current net profit margins (3.6%) are lower than last year (4%).


Past Earnings Growth Analysis

Earnings Trend: ANY's earnings have declined by -1.4% per year over the past 5 years.

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

Earnings vs Industry: ANY had negative earnings growth (-3.6%) over the past year, making it difficult to compare to the Commercial Services industry average (6.2%).


Return on Equity

High ROE: Whilst ANY's Return on Equity (20.92%) is high, this metric is skewed due to their high level of debt.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is ANY Biztonsági Nyomda Nyrt's financial position?


Financial Position Analysis

Short Term Liabilities: ANY's short term assets (HUF12.9B) do not cover its short term liabilities (HUF14.4B).

Long Term Liabilities: ANY's short term assets (HUF12.9B) exceed its long term liabilities (HUF1.8B).


Debt to Equity History and Analysis

Debt Level: ANY's debt to equity ratio (102.3%) is considered high.

Reducing Debt: ANY's debt to equity ratio has increased from 0.7% to 102.3% over the past 5 years.

Debt Coverage: ANY's debt is well covered by operating cash flow (39.8%).

Interest Coverage: ANY's interest payments on its debt are well covered by EBIT (19.8x coverage).


Balance Sheet

Inventory Level: ANY has a high level of physical assets or inventory.

Debt Coverage by Assets: ANY's debt is covered by short term assets (assets are 1.8x debt).


Next Steps

Dividend

What is ANY Biztonsági Nyomda Nyrt's current dividend yield, its reliability and sustainability?

5.66%

Current Dividend Yield


Dividend Yield vs Market

company5.7%marketbottom25%2.0%markettop25%5.4%industryaverage2.9%forecastin3Years6.8%

Current dividend yield vs market & industry

Notable Dividend: ANY's dividend (5.68%) is higher than the bottom 25% of dividend payers in the Hungarian market (1.98%).

High Dividend: ANY's dividend (5.68%) is in the top 25% of dividend payers in the Hungarian market (5.5%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (95.1%), ANY's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ANY's dividends in 3 years are not forecast to be well covered by earnings (98.3% payout ratio).


Next Steps

Management

What is the CEO of ANY Biztonsági Nyomda Nyrt's salary, the management and board of directors tenure and is there insider trading?

12.8yrs

Average board tenure


CEO

Gábor Zsámboki 0

11.7yrs

Tenure

0

Mr. Gábor Zsámboki has been the Chief Executive Officer of ANY Security Printing Company Public Limited Company since May 01, 2008 and served its General Manager since April, 2008. Mr. Zsámboki has been De ...


Board Age and Tenure

12.8yrs

Average Tenure

Experienced Board: ANY's board of directors are seasoned and experienced ( 12.8 years average tenure).


Insider Trading

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.


Management Team

  • Gábor Zsámboki

    Vice-Chairman & CEO

    • Tenure: 11.7yrs
  • Lajos Székelyhidi

    Chief Research & Development Officer

    • Gábor Péter

      Chief Information Officer

      • Tamás Karakó

        Chief Financial Officer

        • Tenure: 3yrs
      • László Balla

        Chief Sales & Marketing Officer and Deputy CEO

        • Zoltán Tóth

          Chief Technical & Production Officer

          • Ádám Szobota

            Administration & Coordination Director

            • Patrícia Antal-Császár

              Human Resources Director

              • Norbert Szász

                Director of IT Development & Operations

                • István Ignácz

                  Chief Security Officer


                  Board Members

                  • Gábor Zsámboki

                    Vice-Chairman & CEO

                    • Tenure: 11.7yrs
                  • György Gyergyák

                    Independent Director

                    • Tenure: 26yrs
                  • Istvánné Gömöri

                    Vice-Chairman of Supervisory Board

                    • Tenure: 14.4yrs
                  • Ferenc Berkesi

                    Member of Supervisory Board

                    • Tenure: 14.4yrs
                  • Ákos Erdos

                    Chairman of the Board

                    • Tamás Sárközy

                      Chairman of Supervisory Board

                      • Tenure: 12.8yrs
                    • Imre Repa

                      Member of Supervisory Board

                      • Tenure: 12.8yrs
                    • Tamás Erdos

                      Independent Director

                      • Tenure: 5.7yrs
                    • Erwin Reisch

                      Independent Director

                      • Tenure: 5.7yrs
                    • Gábor Kepecs

                      Independent Director

                      • Tenure: 1.7yrs

                    Company Information

                    ANY Biztonsági Nyomda Nyrt.'s company bio, employee growth, exchange listings and data sources


                    Key Information

                    • Name: ANY Biztonsági Nyomda Nyrt.
                    • Ticker: ANY
                    • Exchange: BUSE
                    • Founded: 1851
                    • Industry: Commercial Printing
                    • Sector: Commercial Services
                    • Market Cap: Ft20.012b
                    • Shares outstanding: 14.35m
                    • Website: https://www.any.hu

                    Number of Employees


                    Location

                    • ANY Biztonsági Nyomda Nyrt.
                    • Halom utca. 5
                    • Budapest
                    • 1102
                    • Hungary

                    Listings

                    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
                    ANYBUSE (Budapest Stock Exchange)YesClass A Registered SharesHUHUFJan 2006

                    Biography

                    ANY Biztonsági Nyomda Nyrt. operates as a security printing company in Europe. Its products include documents and e-IDs; contactless bank cards and solutions with applications in public transport, loyalty, and e-banking; customers’ loyalty card systems; passport and Visa solutions, including biometric passport and Visa stickers; ID project management; tax and excise stamps; and document security solutions, including document printers, paper additives, security inks, and mobile verification devices and applications. The company also provides business, lottery, and election forms; meal vouchers and printed matter with security features; security labels; and tickets and passes for public transport. It serves government, financial, retail, and transport sectors. The company was formerly known as State Printing Company PLC. ANY Biztonsági Nyomda Nyrt. was founded in 1851 and is based in Budapest, Hungary. 


                    Company Analysis and Financial Data Status

                    All financial data provided by Standard & Poor's Capital IQ.
                    DataLast Updated (UTC time)
                    Company Analysis2020/01/19 21:02
                    End of Day Share Price2020/01/17 00:00
                    Earnings2019/09/30
                    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.