BUSE:FORRAS/T

Stock Analysis Report

Executive Summary

Forras Rt. is a Hungary-based asset management firm.

Rewards


Snowflake Analysis

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/T's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

14.3%

FORRAS/T

1.1%

HU Capital Markets

2.2%

HU Market


1 Year Return

47.7%

FORRAS/T

19.8%

HU Capital Markets

10.7%

HU Market

Return vs Industry: FORRAS/T exceeded the Hungarian Capital Markets industry which returned 19.5% over the past year.

Return vs Market: FORRAS/T exceeded the Hungarian Market which returned 10.2% over the past year.


Shareholder returns

FORRAS/TIndustryMarket
7 Day14.3%1.1%2.2%
30 Day12.9%4.6%2.7%
90 Day21.5%10.8%3.0%
1 Year47.7%47.7%24.7%19.8%13.9%10.7%
3 Year155.7%155.7%16.6%3.0%43.7%32.0%
5 Year204.3%204.3%9.8%-10.6%167.3%133.6%

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?

8.34x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FORRAS/T (HUF1920) is trading above our estimate of fair value (HUF1574.11)

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


Price To Earnings Ratio

PE vs Industry: FORRAS/T is good value based on its PE Ratio (8.3x) compared to the Capital Markets industry average (22.3x).

PE vs Market: FORRAS/T is good value based on its PE Ratio (8.3x) compared to the Hungarian market (15.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate FORRAS/T's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: FORRAS/T is good value based on its PB Ratio (0.4x) compared to the XE Capital Markets industry average (1.4x).

Future Growth

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

19.2%

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.

Past Performance

How has Forrás nyRt performed over the past 5 years?

25.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FORRAS/T has a large one-off gain of HUF550.5M impacting its June 30 2019 financial results.

Growing Profit Margin: FORRAS/T's current net profit margins (57.7%) are higher than last year (43%).


Past Earnings Growth Analysis

Earnings Trend: FORRAS/T's earnings have grown significantly by 25.1% per year over the past 5 years.

Accelerating Growth: FORRAS/T's earnings growth over the past year (93.8%) exceeds its 5-year average (25.1% per year).

Earnings vs Industry: FORRAS/T earnings growth over the past year (93.8%) exceeded the Capital Markets industry 4%.


Return on Equity

High ROE: FORRAS/T's Return on Equity (7.4%) is considered low.


Return on Assets


Return on Capital Employed

Financial Health

How is Forrás nyRt's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: FORRAS/T has a low level of unsold assets or inventory.

Debt Coverage by Assets: FORRAS/T's debt is covered by short term assets (assets are 25x debt).


Financial Institutions Analysis

Asset Level: FORRAS/T's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if FORRAS/T has a sufficient allowance for bad loans.

Low Risk Liabilities: FORRAS/T reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if FORRAS/T has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FORRAS/T has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if FORRAS/T has an appropriate level of bad loans.

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.9%markettop25%5.6%industryaverage3.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

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


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if FORRAS/T's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if FORRAS/T'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/T's dividend in 3 years as they are not forecast to pay a notable one for the Hungarian market.

Management

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

3.7yrs

Average board tenure


CEO

Hidasi Emese 0

10.8yrs

Tenure

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


Board Members

NamePositionTenureCompensationOwnership
Hidasi Emese
Chairman & CEO10.8yrsno datano data
Nóra Felföldi
Member of Supervisory Board0yrsno datano data
János Gránicz
Chairman of Supervisory Board0yrsno datano data
Veronika Kiss
Member of Supervisory Board13.5yrsno datano data
Ágnes Sasinszki
Director1.5yrsno datano data
Júlia Szollosi
Member of Supervisory Board0yrsno datano data
Leisztinger Tamás
Director3.7yrsno datano data
K iss-Forgács Éva Mária
Member of the Supervisory Board7.8yrsno datano data
Török Hajnalka
Director3.7yrsno datano data

3.7yrs

Average Tenure

Experienced Board: FORRAS/T'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 been diluted in the past year, with total shares outstanding growing by 16.8%.


Top Shareholders

Company Information

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


Key Information

  • Name: Forrás nyRt.
  • Ticker: FORRAS/T
  • Exchange: BUSE
  • Founded:
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: Ft9.600b
  • 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 Hungary-based asset management firm. The firm was founded in 1997 and is based in Budapest, Hungary. Forrás Rt. operates as a subsidiary of Arago Befektetési Holding Zrt. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/18 21:01
End of Day Share Price2020/02/14 00:00
Earnings2019/06/30
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.