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MIL

Bank Millennium WSE:MIL Stock Report

Last Price

zł4.06

Market Cap

zł4.9b

7D

-0.1%

1Y

-20.5%

Updated

26 Jun, 2022

Data

Company Financials +
MIL fundamental analysis
Snowflake Score
Valuation1/6
Future Growth4/6
Past Performance0/6
Financial Health4/6
Dividends0/6

MIL Stock Overview

Bank Millennium S.A. provides various banking products and services in Poland.

Rewards

Trading at 3.3% below our estimate of its fair value

Earnings are forecast to grow 90.27% per year

Risk Analysis

No risks detected for MIL from our risk checks.

Bank Millennium Competitors

 

 

 

 

 

 

 

 

 

 

 

 

Price History & Performance

Summary of all time highs, changes and price drops for Bank Millennium
Historical stock prices
Current Share Pricezł4.06
52 Week Highzł9.70
52 Week Lowzł3.96
Beta1.38
1 Month Change-14.38%
3 Month Change-34.06%
1 Year Change-20.51%
3 Year Change-56.60%
5 Year Change-45.48%
Change since IPO203.70%

Recent News & Updates

Shareholder Returns

MILPL BanksPL Market
7D-0.1%2.4%0.6%
1Y-20.5%-18.5%-23.8%

Return vs Industry: MIL underperformed the Polish Banks industry which returned -18.5% over the past year.

Return vs Market: MIL exceeded the Polish Market which returned -23.8% over the past year.

Price Volatility

Is MIL's price volatile compared to industry and market?
MIL volatility
MIL Average Weekly Movement6.8%
Banks Industry Average Movement6.3%
Market Average Movement6.3%
10% most volatile stocks in PL Market11.3%
10% least volatile stocks in PL Market4.2%

Stable Share Price: MIL is not significantly more volatile than the rest of Polish stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: MIL's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19896,842Joao Lima Bras Jorgehttps://www.bankmillennium.pl

Bank Millennium S.A. provides various banking products and services in Poland. It operates through Retail Customer; Corporate Customer; FX Mortgage Loans; and Treasury, Assets and Liabilities Management and Other segments. The company offers current accounts; saving products; renewable, cash loans, loans secured with assets accumulated in the Bank, and loans for purchase of securities, as well as mortgage loans; brokerage services; investment funds and solutions; payment cards; letter of credit; bank guarantee and document collection services; factoring; trade finance; foreign currency exchange services; custody services; pension schemes; overdraft; life and non-life insurance; and custodial services.

Bank Millennium Fundamentals Summary

How do Bank Millennium's earnings and revenue compare to its market cap?
MIL fundamental statistics
Market Capzł4.93b
Earnings (TTM)-zł1.14b
Revenue (TTM)zł3.79b

0.8x

P/B Ratio

1.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MIL income statement (TTM)
Revenuezł3.79b
Cost of Revenuezł40.71m
Gross Profitzł3.75b
Other Expenseszł4.89b
Earnings-zł1.14b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 26, 2022

Earnings per share (EPS)-0.94
Gross Margin98.93%
Net Profit Margin-30.14%
Debt/Equity Ratio44.6%

How did MIL perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

Is MIL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MIL?

Other financial metrics that can be useful for relative valuation.

MIL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Book Ratio vs Peers

How does MIL's PB Ratio compare to its peers?

MIL PB Ratio vs Peers
The above table shows the PB ratio for MIL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPBEstimated GrowthMarket Cap
Peer Average0.8x

Price-To-Book vs Peers: MIL is expensive based on its Price-To-Book Ratio (0.8x) compared to the peer average (0.8x).


Price to Earnings Ratio vs Industry

How does MIL's PE Ratio compare vs other companies in the Banks Industry?

Price-To-Book vs Industry: MIL is expensive based on its Price-To-Book Ratio (0.8x) compared to the Polish Banks industry average (0.8x)


Price to Book Ratio vs Fair Ratio

What is MIL's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MIL PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio0.8x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate MIL's Price-To-Book Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of MIL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MIL (PLN4.06) is trading below our estimate of fair value (PLN4.2)

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


Price to Earnings Growth Ratio

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


Discover undervalued companies

Future Growth

How is Bank Millennium forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


90.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MIL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.5%).

Earnings vs Market: MIL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: MIL is expected to become profitable in the next 3 years.

Revenue vs Market: MIL's revenue (5.2% per year) is forecast to grow faster than the Polish market (4.9% per year).

High Growth Revenue: MIL's revenue (5.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MIL's Return on Equity is forecast to be low in 3 years time (8.4%).


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Past Performance

How has Bank Millennium performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-57.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MIL is currently unprofitable.

Growing Profit Margin: MIL is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MIL is unprofitable, and losses have increased over the past 5 years at a rate of 57.3% per year.

Accelerating Growth: Unable to compare MIL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MIL is unprofitable, making it difficult to compare its past year earnings growth to the Banks industry (86.5%).


Return on Equity

High ROE: MIL has a negative Return on Equity (-18.44%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

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

Financial Health Score

4/6

Financial Health Score 4/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: MIL's Assets to Equity ratio (17.7x) is moderate.

Allowance for Bad Loans: MIL has a low allowance for bad loans (68%).

Low Risk Liabilities: 94% of MIL's liabilities are made up of primarily low risk sources of funding.

Loan Level: MIL has an appropriate level of Loans to Assets ratio (71%).

Low Risk Deposits: MIL's Loans to Deposits ratio (80%) is appropriate.

Level of Bad Loans: MIL has a high level of bad loans (4.4%).


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Dividend

What is Bank Millennium current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


1.44%

Forecast Dividend Yield

Dividend Yield vs Market

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

High Dividend: Unable to evaluate MIL'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 MIL's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Earnings Coverage: MIL is not paying a notable dividend for the Polish market.


Future Payout to Shareholders

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


Discover strong dividend paying companies

Management

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

12.2yrs

Average management tenure


CEO

Joao Lima Bras Jorge (52 yo)

15.92yrs

Tenure

zł3,445,640

Compensation

Mr. Joao Nuno Lima Bras Jorge has been the Chairman of the Management Board at Bank Millennium Spolka Akcyjna since October 24, 2013 and has been its Member of the Management Board since July 19, 2006. Mr....


CEO Compensation Analysis

Compensation vs Market: Joao's total compensation ($USD774.60K) is above average for companies of similar size in the Polish market ($USD512.29K).

Compensation vs Earnings: Joao's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: MIL's management team is seasoned and experienced (12.2 years average tenure).


Board Members

Experienced Board: MIL's board of directors are considered experienced (7.1 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

Bank Millennium S.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: Bank Millennium S.A.
  • Ticker: MIL
  • Exchange: WSE
  • Founded: 1989
  • Industry: Diversified Banks
  • Sector: Banks
  • Implied Market Cap: zł4.928b
  • Shares outstanding: 1.21b
  • Website: https://www.bankmillennium.pl

Number of Employees


Location

  • Bank Millennium S.A.
  • Stanislawa Zaryna 2A
  • Warsaw
  • 02-593
  • Poland

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/26 00:00
End of Day Share Price2022/06/24 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


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.