BUSE:FORRAS/OE

Stock Analysis Report

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Executive Summary

Forras Rt. is a publicly owned investment manager. More Details


Snowflake Analysis

Excellent balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-10.0%

FORRAS/OE

-3.2%

HU Capital Markets

-6.5%

HU Market


1 Year Return

-34.5%

FORRAS/OE

-24.8%

HU Capital Markets

-23.7%

HU Market

Return vs Industry: FORRAS/OE underperformed the Hungarian Capital Markets industry which returned -24.8% over the past year.

Return vs Market: FORRAS/OE underperformed the Hungarian Market which returned -23.7% over the past year.


Shareholder returns

FORRAS/OEIndustryMarket
7 Day-10.0%-3.2%-6.5%
30 Day-16.9%-4.6%-10.5%
90 Day0.9%-1.4%-14.2%
1 Year-31.8%-34.5%-24.8%-24.8%-23.4%-23.7%
3 Year31.7%16.8%-1.9%-11.8%-9.7%-15.2%
5 Year45.8%16.6%8.1%-10.9%62.8%45.4%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Forrás nyRt undervalued compared to its fair value and its price relative to the market?

10.19x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FORRAS/OE (HUF1080) is trading above our estimate of fair value (HUF644.38)

Significantly Below Fair Value: FORRAS/OE is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: FORRAS/OE is good value based on its PE Ratio (10.2x) compared to the XE Capital Markets industry average (15.2x).

PE vs Market: FORRAS/OE is good value based on its PE Ratio (10.2x) compared to the Hungarian market (13.8x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: FORRAS/OE is good value based on its PB Ratio (0.3x) compared to the XE Capital Markets industry average (1.1x).


Next Steps

Future Growth

How is Forrás nyRt forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

18.8%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Forrás nyRt has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Forrás nyRt performed over the past 5 years?

23.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FORRAS/OE has a large one-off gain of HUF1.2B impacting its December 31 2019 financial results.

Growing Profit Margin: FORRAS/OE's current net profit margins (32.1%) are lower than last year (32.4%).


Past Earnings Growth Analysis

Earnings Trend: FORRAS/OE's earnings have grown significantly by 23.7% per year over the past 5 years.

Accelerating Growth: FORRAS/OE's earnings growth over the past year (46.8%) exceeds its 5-year average (23.7% per year).

Earnings vs Industry: FORRAS/OE earnings growth over the past year (46.8%) exceeded the Capital Markets industry 13.1%.


Return on Equity

High ROE: FORRAS/OE's Return on Equity (3.8%) is considered low.


Next Steps

Financial Health

How is Forrás nyRt's financial position?


Financial Position Analysis

Short Term Liabilities: FORRAS/OE's short term assets (HUF14.3B) exceed its short term liabilities (HUF4.7B).

Long Term Liabilities: FORRAS/OE's short term assets (HUF14.3B) exceed its long term liabilities (HUF1.4B).


Debt to Equity History and Analysis

Debt Level: FORRAS/OE's debt to equity ratio (4.2%) is considered satisfactory.

Reducing Debt: FORRAS/OE's debt to equity ratio has reduced from 21.2% to 4.2% over the past 5 years.

Debt Coverage: FORRAS/OE's debt is well covered by operating cash flow (293.6%).

Interest Coverage: Insufficient data to determine if FORRAS/OE's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

What is Forrás nyRt current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate FORRAS/OE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate FORRAS/OE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FORRAS/OE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FORRAS/OE's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of FORRAS/OE's dividend in 3 years as they are not forecast to pay a notable one for the Hungarian market.


Next Steps

Management

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

4.3yrs

Average board tenure


CEO

Hidasi Emese

11.42yrs

Tenure

Dr. Hidasi Emese serves as the Chairman and CEO of Forrás Rt.


Board Members

NamePositionTenureCompensationOwnership
Hidasi Emese
Chairman & CEO11.42yrsno datano data
Nóra Felföldi
Member of Supervisory Boardno datano datano data
János Gránicz
Chairman of Supervisory Boardno datano datano data
Veronika Kiss
Member of Supervisory Board14.08yrsno datano data
Ágnes Sasinszki
Director2.08yrsno datano data
Júlia Szollosi
Member of Supervisory Boardno datano datano data
Leisztinger Tamás
Director4.25yrsno datano data
Kiss-Forgács Éva Mária
Member of the Supervisory Board8.42yrsno datano data
Török Hajnalka
Director4.25yrsno datano data

4.3yrs

Average Tenure

Experienced Board: FORRAS/OE's board of directors are considered experienced (4.3 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.


Top Shareholders

Company Information

Forrás nyRt.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Forrás nyRt.
  • Ticker: FORRAS/OE
  • Exchange: BUSE
  • Founded:
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: Ft7.300b
  • Shares outstanding: 5.00m
  • Website: https://www.forras.hu

Location

  • Forrás nyRt.
  • Vak Bottyán utca 75/A-C. III. em. 21.
  • Budapest
  • 1191
  • Hungary

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FORRAS/TBUSE (Budapest Stock Exchange)YesClass A Ordinary SharesHUHUFOct 2003
0B5FLSE (London Stock Exchange)YesClass A Ordinary SharesGBHUFOct 2003
FORRAS/OEBUSE (Budapest Stock Exchange)PFD ORD HUF1000 B SERIESHUHUFJul 2005
0B5GLSE (London Stock Exchange)PFD ORD HUF1000 B SERIESGBHUFJul 2005

Biography

Forras Rt. is a publicly owned investment manager. The firm focuses on asset management, real estate management and utilisation, management of bank deposits and securities listed on the stock exchange, sup ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/23 03:18
End of Day Share Price2020/09/22 00:00
Earnings2019/12/31
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.