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AC Spólka Akcyjna

WSE:ACG
Snowflake Description

Outstanding track record with flawless balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ACG
WSE
PLN504M
Market Cap
  1. Home
  2. PL
  3. Automobiles
Company description

AC Spólka Akcyjna manufactures and sells automotive LPG/CNG systems under the STAG brand in Poland and internationally. The last earnings update was 43 days ago. More info.


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ACG Share Price and Events
7 Day Returns
-9.7%
WSE:ACG
0.2%
Europe Auto Components
-0.3%
PL Market
1 Year Returns
33.5%
WSE:ACG
-35.5%
Europe Auto Components
-0.1%
PL Market
ACG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AC Spólka Akcyjna (ACG) -9.7% -12.1% 4.1% 33.5% 34.2% 36.6%
Europe Auto Components 0.2% -4.1% -8% -35.5% -18.6% -9.9%
PL Market -0.3% 2.9% -4.7% -0.1% 13.4% -9.1%
1 Year Return vs Industry and Market
  • ACG outperformed the Auto Components industry which returned -35.5% over the past year.
  • ACG outperformed the Market in Poland which returned -0.1% over the past year.
Price Volatility
ACG
Industry
5yr Volatility vs Market

ACG Value

 Is AC Spólka Akcyjna undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of AC Spólka Akcyjna to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for AC Spólka Akcyjna.

WSE:ACG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.9%
Perpetual Growth Rate 10-Year PL Government Bond Rate 2.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WSE:ACG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.2
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.196 (1 + (1- 19%) (0%))
1.131
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.131 * 7.14%)
10.93%

Discounted Cash Flow Calculation for WSE:ACG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for AC Spólka Akcyjna is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WSE:ACG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 10.93%)
2019 22.70 Analyst x1 20.46
2020 33.60 Analyst x1 27.31
2021 37.41 Est @ 11.35% 27.41
2022 40.71 Est @ 8.8% 26.88
2023 43.56 Est @ 7.02% 25.94
2024 46.08 Est @ 5.77% 24.73
2025 48.33 Est @ 4.89% 23.38
2026 50.40 Est @ 4.28% 21.98
2027 52.34 Est @ 3.85% 20.58
2028 54.20 Est @ 3.55% 19.21
Present value of next 10 years cash flows PLN237.88
WSE:ACG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN54.20 × (1 + 2.85%) ÷ (10.93% – 2.85%)
PLN689.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN689.98 ÷ (1 + 10.93%)10
PLN244.57
WSE:ACG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN237.88 + PLN244.57
PLN482.46
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN482.46 / 9.88
PLN48.84
WSE:ACG Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN48.84
Current discount Discount to share price of PLN51.00
= -1 x (PLN51.00 - PLN48.84) / PLN48.84
-4.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of AC Spólka Akcyjna is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for AC Spólka Akcyjna's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AC Spólka Akcyjna's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:ACG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PLN PLN4.19
WSE:ACG Share Price ** WSE (2019-06-18) in PLN PLN51
Europe Auto Components Industry PE Ratio Median Figure of 42 Publicly-Listed Auto Components Companies 11.88x
Poland Market PE Ratio Median Figure of 455 Publicly-Listed Companies 10.82x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of AC Spólka Akcyjna.

WSE:ACG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= WSE:ACG Share Price ÷ EPS (both in PLN)

= 51 ÷ 4.19

12.18x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AC Spólka Akcyjna is overvalued based on earnings compared to the Europe Auto Components industry average.
  • AC Spólka Akcyjna is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does AC Spólka Akcyjna's expected growth come at a high price?
Raw Data
WSE:ACG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.18x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-0.3%per year
Europe Auto Components Industry PEG Ratio Median Figure of 33 Publicly-Listed Auto Components Companies 0.7x
Poland Market PEG Ratio Median Figure of 109 Publicly-Listed Companies 1.05x

*Line of best fit is calculated by linear regression .

WSE:ACG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.18x ÷ -0.3%

-42.85x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AC Spólka Akcyjna earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on AC Spólka Akcyjna's assets?
Raw Data
WSE:ACG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PLN PLN12.96
WSE:ACG Share Price * WSE (2019-06-18) in PLN PLN51
Europe Auto Components Industry PB Ratio Median Figure of 47 Publicly-Listed Auto Components Companies 1.27x
Poland Market PB Ratio Median Figure of 687 Publicly-Listed Companies 0.97x
WSE:ACG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WSE:ACG Share Price ÷ Book Value per Share (both in PLN)

= 51 ÷ 12.96

3.94x

* Primary Listing of AC Spólka Akcyjna.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AC Spólka Akcyjna is overvalued based on assets compared to the Europe Auto Components industry average.
X
Value checks
We assess AC Spólka Akcyjna's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Auto Components industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Auto Components industry average (and greater than 0)? (1 check)
  5. AC Spólka Akcyjna has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ACG Future Performance

 How is AC Spólka Akcyjna expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-0.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AC Spólka Akcyjna expected to grow at an attractive rate?
  • AC Spólka Akcyjna's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.9%.
Growth vs Market Checks
  • AC Spólka Akcyjna's earnings are expected to decrease over the next 1-3 years, this is below the Poland market average.
  • AC Spólka Akcyjna's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:ACG Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:ACG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -0.3%
WSE:ACG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 3.3%
Europe Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 9.8%
Europe Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.5%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WSE:ACG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:ACG Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 296 1
2022-12-31 287 1
2021-12-31 279 1
2020-12-31 283 50 41 2
2019-12-31 267 44 40 1
WSE:ACG Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-03-31 242 41 41
2018-12-31 237 51 39
2018-09-30 227 55 38
2018-06-30 215 54 36
2018-03-31 201 36 32
2017-12-31 194 32 31
2017-09-30 190 21 30
2017-06-30 194 27 31
2017-03-31 192 38 32
2016-12-31 185 37 30
2016-09-30 183 43 31
2016-06-30 175 44 29

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AC Spólka Akcyjna's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • AC Spólka Akcyjna's revenue is expected to grow by 3.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WSE:ACG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from AC Spólka Akcyjna Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:ACG Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 4.10 4.10 4.10 1.00
2019-12-31 4.00 4.00 4.00 1.00
WSE:ACG Past Financials Data
Date (Data in PLN Millions) EPS *
2019-03-31 4.19
2018-12-31 3.99
2018-09-30 3.88
2018-06-30 3.73
2018-03-31 3.31
2017-12-31 3.16
2017-09-30 3.08
2017-06-30 3.17
2017-03-31 3.26
2016-12-31 3.14
2016-09-30 3.22
2016-06-30 3.05

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if AC Spólka Akcyjna will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess AC Spólka Akcyjna's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
AC Spólka Akcyjna has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ACG Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare AC Spólka Akcyjna's growth in the last year to its industry (Auto Components).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • AC Spólka Akcyjna's year on year earnings growth rate has been positive over the past 5 years.
  • AC Spólka Akcyjna's 1-year earnings growth exceeds its 5-year average (27.6% vs 8.9%)
  • AC Spólka Akcyjna's earnings growth has exceeded the Europe Auto Components industry average in the past year (27.6% vs -3.3%).
Earnings and Revenue History
AC Spólka Akcyjna's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from AC Spólka Akcyjna Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:ACG Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 241.85 41.00 39.22
2018-12-31 237.43 39.01 38.46
2018-09-30 226.60 37.79 36.25
2018-06-30 215.31 36.30 34.04
2018-03-31 200.88 32.14 32.88
2017-12-31 194.41 30.70 32.17
2017-09-30 189.85 29.94 32.45
2017-06-30 193.62 30.70 32.56
2017-03-31 192.18 31.56 31.46
2016-12-31 184.89 30.42 30.33
2016-09-30 182.54 31.16 28.05
2016-06-30 175.01 29.47 27.83
2016-03-31 170.29 29.15 27.09
2015-12-31 166.73 28.62 26.48
2015-09-30 167.26 27.65 27.70
2015-06-30 160.80 26.35 25.94
2015-03-31 165.52 26.05 26.04
2014-12-31 168.89 25.41 26.52
2014-09-30 170.87 24.89 26.46
2014-06-30 177.01 25.70 26.77
2014-03-31 173.52 26.75 26.09
2013-12-31 171.03 26.74 25.18
2013-09-30 164.12 25.06 23.86
2013-06-30 157.55 25.38 22.53
2013-03-31 162.46 26.24 22.12
2012-12-31 158.98 25.06 22.04
2012-09-30 151.30 24.81 21.79
2012-06-30 150.54 24.49 22.01

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • AC Spólka Akcyjna has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • AC Spólka Akcyjna used its assets more efficiently than the Europe Auto Components industry average last year based on Return on Assets.
  • AC Spólka Akcyjna has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess AC Spólka Akcyjna's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Auto Components industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
AC Spólka Akcyjna has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ACG Health

 How is AC Spólka Akcyjna's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up AC Spólka Akcyjna's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AC Spólka Akcyjna is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • AC Spólka Akcyjna's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of AC Spólka Akcyjna's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 8882.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from AC Spólka Akcyjna Company Filings, last reported 2 months ago.

WSE:ACG Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 126.93 0.01 4.13
2018-12-31 111.81 4.46 4.57
2018-09-30 105.30 0.07 8.02
2018-06-30 95.79 0.09 2.78
2018-03-31 106.82 0.10 5.08
2017-12-31 96.41 24.46 17.67
2017-09-30 88.90 0.14 2.96
2017-06-30 80.87 0.15 8.07
2017-03-31 98.60 0.10 7.00
2016-12-31 89.89 6.95 5.33
2016-09-30 107.22 0.00 21.46
2016-06-30 98.42 0.00 13.90
2016-03-31 113.36 0.00 20.70
2015-12-31 105.24 0.00 17.75
2015-09-30 99.45 0.00 12.28
2015-06-30 92.34 0.00 21.65
2015-03-31 104.93 0.00 18.58
2014-12-31 97.67 0.00 10.60
2014-09-30 92.68 0.00 9.88
2014-06-30 86.87 0.00 19.79
2014-03-31 100.25 0.00 16.37
2013-12-31 93.61 0.00 14.15
2013-09-30 89.42 0.00 10.89
2013-06-30 82.42 0.00 28.56
2013-03-31 91.63 4.82 31.16
2012-12-31 85.01 4.82 29.54
2012-09-30 82.35 0.00 21.63
2012-06-30 74.85 0.00 34.94
  • AC Spólka Akcyjna's level of debt (0%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (0% vs 0% today).
  • Debt is well covered by operating cash flow (410810%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 186.5x coverage).
X
Financial health checks
We assess AC Spólka Akcyjna's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. AC Spólka Akcyjna has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ACG Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.73%
Current annual income from AC Spólka Akcyjna dividends. Estimated to be 6.27% next year.
If you bought PLN2,000 of AC Spólka Akcyjna shares you are expected to receive PLN155 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • AC Spólka Akcyjna's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.84%).
  • AC Spólka Akcyjna's dividend is above the markets top 25% of dividend payers in Poland (7.33%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WSE:ACG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Europe Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 3.8%
Poland Market Average Dividend Yield Market Cap Weighted Average of 203 Stocks 4.3%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.5%
Poland Bottom 25% Dividend Yield 25th Percentile 2.8%
Poland Top 25% Dividend Yield 75th Percentile 7.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WSE:ACG Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 3.20 1.00
2019-12-31 3.20 1.00
WSE:ACG Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2019-05-06 3.940 7.111
2019-03-12 3.940 8.037
2018-03-16 2.500 5.907
2017-03-09 2.700 6.425
2016-03-09 2.500 6.251
2015-03-12 2.300 7.239
2014-02-27 2.300 6.828
2013-03-15 2.100 5.773
2012-05-08 2.380 9.986
2012-02-29 2.380 10.704

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, AC Spólka Akcyjna has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but AC Spólka Akcyjna only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of AC Spólka Akcyjna's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess AC Spólka Akcyjna's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can AC Spólka Akcyjna afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AC Spólka Akcyjna has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ACG Management

 What is the CEO of AC Spólka Akcyjna's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Katarzyna Rutkowska
COMPENSATION PLN0
TENURE AS CEO 10.8 years
CEO Bio

Mrs. Katarzyna Rutkowska has been President of the Management Board of AC S.A since August 2008 and its Member of The Management Board since December 2007 and has been the Chief Financial Officer since 2007. Mrs. Rutkowska has been Chartered Auditor's Office, own business activity since 2005. She served as Vice-President of the Management Board at AC S.A. She served as Director for Distribution Accounting at Emperia Holding S.A. in Lublin since 2007. She served as Financial Director of BOS S.A. in Bialystok from 2005 to 2007 She served as Financial Manager and Adjuster, at Tax Consulting Agency Andrzej Malec i Wsp lnicy sp. z o.o. in Bialystok from 2002 to 2005 She served as Controlling Assistant, Deputy Chief Accountant and Financial Controller of BOS S.A. in Bialystok from 1997 to 2002. She served as a Member of the Supervisory Board at Mispol Spolka Akcyjna from March 2003 to June 2009. She has been University Teacher of The University of Finance and Management in Bialystok (the Department of Financial Analysis and Management Accounting) since 1999. Mrs. Rutkowska is a chartered accountant (entry to the register no. 10651), she continues to raise her knowledge through participating in numerous specialist trainings. In 2009, she completed Strategic Management Academy and in 2011 , Management 2011 yearly management programs in ICAN Warsaw institute under the auspices of Harvard Business Publishing.

CEO Compensation
  • Katarzyna's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Katarzyna's remuneration is higher than average for companies of similar size in Poland.
Management Team

Katarzyna Rutkowska

TITLE
President of the Management Board and Chief Financial Officer
TENURE
10.8 yrs

Piotr Marcinkowski

TITLE
Vice-President of the Management Board and Vice President of Trade

Wojciech Piekarski

TITLE
Marketing Director
Board of Directors Tenure

Average tenure and age of the AC Spólka Akcyjna board of directors in years:

9.4
Average Tenure
51
Average Age
  • The tenure for the AC Spólka Akcyjna board of directors is about average.
Board of Directors

Piotr Laskowski

TITLE
Chairman of the Supervisory Board
AGE
51
TENURE
8.4 yrs

Anatol Timoszuk

TITLE
Vice Chairman of the Supervisory Board
TENURE
8.4 yrs

Tomasz Krysztofiak

TITLE
Independent Member of the Supervisory Board
AGE
56
TENURE
9.4 yrs

Laskowski Artur

TITLE
Member of the Supervisory Board
AGE
51
TENURE
12.4 yrs

Zenon Mierzejewski

TITLE
Member of the Supervisory Board
TENURE
11.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (PLN) Value (PLN)
X
Management checks
We assess AC Spólka Akcyjna's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. AC Spólka Akcyjna has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ACG News

Simply Wall St News

Estimating The Fair Value Of AC Spólka Akcyjna (WSE:ACG)

Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (PLN, Millions) PLN22.70 PLN33.60 PLN37.41 PLN40.71 PLN43.56 PLN46.08 PLN48.33 PLN50.40 PLN52.34 PLN54.20 Growth Rate Estimate Source Analyst x1 Analyst x1 Est @ 11.35% Est @ 8.8% Est @ 7.02% Est @ 5.77% Est @ 4.89% Est @ 4.28% Est @ 3.85% Est @ 3.55% Present Value (PLN, Millions) Discounted @ 10.42% PLN20.56 PLN27.56 PLN27.79 PLN27.38 PLN26.54 PLN25.42 PLN24.15 PLN22.80 PLN21.45 PLN20.11 Present Value of 10-year Cash Flow (PVCF)= PLN243.75m "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … We discount the terminal cash flows to today's value at a cost of equity of 10.4%. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = zł54m × (1 + 2.9%) ÷ (10.4% – 2.9%) = zł736m Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = PLNzł736m ÷ ( 1 + 10.4%)10 = PLN273.23m The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is PLN516.98m.

Simply Wall St -

Is AC Spólka Akcyjna (WSE:ACG) A High Quality Stock To Own?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for AC Spólka Akcyjna: 32% = zł41m ÷ zł127m (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Does AC Spólka Akcyjna Have A Good Return On Equity? … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

What To Know Before Buying AC Spólka Akcyjna (WSE:ACG) For Its Dividend

Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful. … Some simple analysis can offer a lot of insights when buying a company for its dividend, and we'll go through this below. … WSE:ACG Historical Dividend Yield, May 7th 2019

Simply Wall St -

Do Directors Own AC Spólka Akcyjna (WSE:ACG) Shares?

A look at the shareholders of AC Spólka Akcyjna (WSE:ACG) can tell us which group is most powerful. … AC Spólka Akcyjna is not a large company by global standards. … Check out our latest analysis for AC Spólka Akcyjna

Simply Wall St -

Here's What AC Spólka Akcyjna's (WSE:ACG) ROCE Can Tell Us

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Did AC Spólka Akcyjna's (WSE:ACG) Recent Earnings Growth Beat The Trend?

When AC Spólka Akcyjna (WSE:ACG) released its most recent earnings update (31 December 2018), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were AC Spólka Akcyjna's average earnings over the past couple of years, and its industry performance. … ACG's trailing twelve-month earnings (from 31 December 2018) of zł39m has

Simply Wall St -

A Holistic Look At AC Spólka Akcyjna (WSE:ACG)

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on AC Spólka Akcyjna (WSE:ACG) due to its excellent fundamentals in more than one area. … For those interested in understanding where the figures come from and want to see the analysis,

Simply Wall St -

Should AC Spólka Akcyjna Be Disappointed With Their 30% Profit?

Just take a look at AC Spólka Akcyjna (WSE:ACG), which is up 30%, over three years, soundly beating the market return of 15% (not including dividends). … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … AC Spólka Akcyjna was able to grow its EPS at 10% per year over three years, sending the share price higher.

Simply Wall St -

Is AC Spólka Akcyjna (WSE:ACG) A High Quality Stock To Own?

To keep the lesson grounded in practicality, we'll use ROE to better understand AC Spólka Akcyjna (WSE:ACG). … Another way to think of that is that for every PLN1 worth of equity in the company, it was able to earn PLN0.36. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Here's What AC Spólka Akcyjna's (WSE:ACG) P/E Is Telling Us

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … AC Spólka Akcyjna has a price to earnings ratio of 11.56, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

ACG Company Info

Description

AC Spólka Akcyjna manufactures and sells automotive LPG/CNG systems under the STAG brand in Poland and internationally. It offers autogas STAZ products for gas computer, STAG W trasie, and mobile applications. 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 toroidal, penetrants, cylindrical tanks, silicon sprays, and antifreeze products under the TytanGas Protect brand. In addition, it distributes car parts. AC Spólka Akcyjna was founded in 1986 and is based in Bialystok, Poland.

Details
Name: AC Spólka Akcyjna
ACG
Exchange: WSE
Founded: 1986
PLN503,817,933
9,878,783
Website: http://www.ac.com.pl
Address: AC Spólka Akcyjna
ul. 42 Pulku Piechoty 50,
Bialystok,
15-181,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE ACG Bearer Shares Warsaw Stock Exchange PL PLN 11. Aug 2011
Number of employees
Current staff
Staff numbers
0
AC Spólka Akcyjna employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 21:31
End of day share price update: 2019/06/18 00:00
Last estimates confirmation: 2019/05/29
Last earnings filing: 2019/05/06
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.