WSE:ACG

Stock Analysis Report

AC Spólka Akcyjna

Executive Summary

AC Spólka Akcyjna manufactures and sells LPG and CNG autogas systems under the STAG brand for petrol and diesel engines in Poland.


Snowflake Analysis

Flawless balance sheet with acceptable track record.

Share Price & News

How has AC Spólka Akcyjna's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-0.4%

ACG

0.4%

PL Auto Components

-0.2%

PL Market


1 Year Return

0.9%

ACG

-7.1%

PL Auto Components

-7.6%

PL Market

Return vs Industry: ACG exceeded the Polish Auto Components industry which returned -7.1% over the past year.

Return vs Market: ACG exceeded the Polish Market which returned -7.6% over the past year.


Shareholder returns

ACGIndustryMarket
7 Day-0.4%0.4%-0.2%
30 Day-0.8%-2.4%-1.0%
90 Day17.9%-5.8%0.5%
1 Year8.4%0.9%-3.7%-7.1%-4.8%-7.6%
3 Year37.3%13.1%-20.8%-27.3%-7.2%-13.8%
5 Year120.4%49.5%-9.2%-19.6%2.0%-10.8%

Price Volatility Vs. Market

How volatile is AC Spólka Akcyjna's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is AC Spólka Akcyjna undervalued compared to its fair value and its price relative to the market?

12.32x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ACG (PLN47.4) is trading above our estimate of fair value (PLN27.5)

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


Price To Earnings Ratio

PE vs Industry: ACG is poor value based on its PE Ratio (12.3x) compared to the Auto Components industry average (11.3x).

PE vs Market: ACG is poor value based on its PE Ratio (12.3x) compared to the Polish market (12x).


Price to Earnings Growth Ratio

PEG Ratio: ACG is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: ACG is overvalued based on its PB Ratio (4.8x) compared to the XE Auto Components industry average (1.1x).


Next Steps

Future Growth

How is AC Spólka Akcyjna forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

3.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACG's forecast earnings growth (3.7% per year) is above the savings rate (2%).

Earnings vs Market: ACG's earnings (3.7% per year) are forecast to grow slower than the Polish market (11.5% per year).

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

Revenue vs Market: ACG's revenue (4.5% per year) is forecast to grow slower than the Polish market (6.1% per year).

High Growth Revenue: ACG's revenue (4.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ACG's Return on Equity is forecast to be high in 3 years time (27.2%)


Next Steps

Past Performance

How has AC Spólka Akcyjna performed over the past 5 years?

9.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ACG has a high level of non-cash earnings.

Growing Profit Margin: ACG's current net profit margins (16.3%) are lower than last year (16.9%).


Past Earnings Growth Analysis

Earnings Trend: ACG's earnings have grown by 9.2% per year over the past 5 years.

Accelerating Growth: ACG's earnings growth over the past year (4.1%) is below its 5-year average (9.2% per year).

Earnings vs Industry: ACG earnings growth over the past year (4.1%) exceeded the Auto Components industry -11.1%.


Return on Equity

High ROE: ACG's Return on Equity (38.4%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is AC Spólka Akcyjna's financial position?


Financial Position Analysis

Short Term Liabilities: ACG's short term assets (PLN93.8M) exceed its short term liabilities (PLN79.6M).

Long Term Liabilities: ACG's short term assets (PLN93.8M) exceed its long term liabilities (PLN11.8M).


Debt to Equity History and Analysis

Debt Level: ACG is debt free.

Reducing Debt: ACG had no debt 5 years ago.

Debt Coverage: ACG has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: ACG has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

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

Debt Coverage by Assets: ACG's debt is not covered by short term assets (assets are -1202.4x debt).


Next Steps

Dividend

What is AC Spólka Akcyjna's current dividend yield, its reliability and sustainability?

8.31%

Current Dividend Yield


Dividend Yield vs Market

company8.3%marketbottom25%2.4%markettop25%6.5%industryaverage3.8%forecastin3Years6.3%

Current dividend yield vs market & industry

Notable Dividend: ACG's dividend (8.31%) is higher than the bottom 25% of dividend payers in the Polish market (2.37%).

High Dividend: ACG's dividend (8.31%) is in the top 25% of dividend payers in the Polish market (6.55%)


Stability and Growth of Payments

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

Growing Dividend: ACG's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (102.4%), ACG's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ACG's dividends in 3 years are forecast to be covered by earnings (84% payout ratio).


Next Steps

Management

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

9.1yrs

Average board tenure


CEO

Anatol Timoszuk 0

0.3yrs

Tenure

0

Mr. Anatol Timoszuk has been the President of the Management Board at AC Spólka Akcyjna since October 1, 2019. Mr. Timoszuk has been the President of the Management Board at PMB S.A. since 2011. Mr. Timosz ...


Board Members

NamePositionTenureCompensationOwnership
Piotr Laskowski
Chairman of the Supervisory Board9.1yrsno datano data
Laskowski Artur
Member of the Supervisory Board13.1yrsno datano data
Michal Hulbój
Member of the Supervisory Board0.3yrsno datano data
Marzena Smolarczyk
Independent Supervisory Board Member0yrsno data0.74% PLN3.5m

9.1yrs

Average Tenure

Experienced Board: ACG's board of directors are considered experienced (9.1 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

AC Spólka Akcyjna's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AC Spólka Akcyjna
  • Ticker: ACG
  • Exchange: WSE
  • Founded: 1986
  • Industry: Auto Parts and Equipment
  • Sector: Automobiles
  • Market Cap: zł470.230m
  • Shares outstanding: 9.88m
  • Website: https://www.ac.com.pl

Location

  • AC Spólka Akcyjna
  • ul. 42 Pulku Piechoty 50
  • Bialystok
  • 15-181
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ACGWSE (Warsaw Stock Exchange)YesBearer SharesPLPLNAug 2011
0Q3ELSE (London Stock Exchange)YesBearer SharesGBPLNAug 2011

Biography

AC Spólka Akcyjna manufactures and sells LPG and CNG autogas systems under the STAG brand for petrol and diesel engines in Poland. It offers mobile applications; LPG/CNG controllers for Q-GENRATION, direct petrol injection, diesel, and economic lines; LPG/CNG injection rails; LPG and CNG reducers; fuel injector, level, and pressure emulator products; switches; fuel level indicators; timing advance processors; pressure sensors; LPG/CNG recorders; chiptuning products; interfaces; and filters. The company also provides auto parts, such as fuses, fuse boxes, fuse holders, hose clamps, cable ties, terminals, connectors, rotating beacons, horns, plugs and sockets, trailer cables, adapters, spiral coils, car electronics, electrotechnics, tachograph accessories, and various other accessories; and leak testers, tanks toroidals, penetrants, cylindrical tanks, silicon sprays, and antifreeze products under the TytanGas Protect brand. In addition, it exports its products. AC Spólka Akcyjna was founded in 1986 and is based in Bialystok, Poland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/20 22:17
End of Day Share Price2020/02/20 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.