WSE:FMF

Stock Analysis Report

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Executive Summary

Famur S.A. manufactures and sells mining machinery and equipment in Poland. More Details


Snowflake Analysis

Adequate balance sheet and overvalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: FMF's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.3%

FMF

-3.8%

PL Machinery

-3.1%

PL Market


1 Year Return

-53.6%

FMF

-25.1%

PL Machinery

-16.3%

PL Market

Return vs Industry: FMF underperformed the Polish Machinery industry which returned -25.1% over the past year.

Return vs Market: FMF underperformed the Polish Market which returned -16.3% over the past year.


Shareholder returns

FMFIndustryMarket
7 Day-1.3%-3.8%-3.1%
30 Day-4.6%-11.0%-4.6%
90 Day-23.0%-12.2%-10.5%
1 Year-53.6%-53.6%-24.6%-25.1%-15.5%-16.3%
3 Year-63.4%-69.9%-34.3%-42.4%-26.1%-30.5%
5 Year7.6%-11.4%-2.3%-14.6%-15.6%-24.8%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

4.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FMF (PLN1.65) is trading below our estimate of fair value (PLN1.73)

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


Price To Earnings Ratio

PE vs Industry: FMF is poor value based on its PE Ratio (22x) compared to the PL Machinery industry average (7.8x).

PE vs Market: FMF is poor value based on its PE Ratio (22x) compared to the Polish market (12.6x).


Price to Earnings Growth Ratio

PEG Ratio: FMF is poor value based on its PEG Ratio (182.7x)


Price to Book Ratio

PB vs Industry: FMF's PB Ratio (0.6x) is in line with the PL Machinery industry average.


Next Steps

Future Growth

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

0.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FMF's forecast earnings growth (0.1% per year) is below the savings rate (2.9%).

Earnings vs Market: FMF's earnings (0.1% per year) are forecast to grow slower than the Polish market (14.7% per year).

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

Revenue vs Market: FMF's revenue (0.4% per year) is forecast to grow slower than the Polish market (4.8% per year).

High Growth Revenue: FMF's revenue (0.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FMF's Return on Equity is forecast to be low in 3 years time (7.6%).


Next Steps

Past Performance

How has Famur performed over the past 5 years?

31.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FMF has a large one-off loss of PLN85.0M impacting its June 30 2020 financial results.

Growing Profit Margin: FMF's current net profit margins (2.5%) are lower than last year (18.8%).


Past Earnings Growth Analysis

Earnings Trend: FMF's earnings have grown significantly by 31.5% per year over the past 5 years.

Accelerating Growth: FMF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FMF had negative earnings growth (-89.4%) over the past year, making it difficult to compare to the Machinery industry average (-10.2%).


Return on Equity

High ROE: FMF's Return on Equity (3%) is considered low.


Next Steps

Financial Health

How is Famur's financial position?


Financial Position Analysis

Short Term Liabilities: FMF's short term assets (PLN1.9B) exceed its short term liabilities (PLN692.0M).

Long Term Liabilities: FMF's short term assets (PLN1.9B) exceed its long term liabilities (PLN514.0M).


Debt to Equity History and Analysis

Debt Level: FMF's debt to equity ratio (49.7%) is considered high.

Reducing Debt: FMF's debt to equity ratio has increased from 8% to 49.7% over the past 5 years.

Debt Coverage: FMF's debt is well covered by operating cash flow (65.7%).

Interest Coverage: FMF's interest payments on its debt are well covered by EBIT (28.1x coverage).


Balance Sheet


Next Steps

Dividend

What is Famur current dividend yield, its reliability and sustainability?

6.83%

Forecast Dividend Yield


Dividend Yield vs Market

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

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

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


Current Payout to Shareholders

Dividend Coverage: FMF is not paying a notable dividend for the Polish market.


Future Payout to Shareholders

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


Next Steps

Management

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

2.1yrs

Average management tenure


CEO

Miroslaw Bendzera

no data

Tenure

zł1,904,000

Compensation

Mr. Miroslaw Bendzera serves as the Chairman of Management Board at Pioma Odlewnia Sp. z o.o. Mr. Bendzera has been President of the Management Board at Famur S.A. since October 2014 and serves as its Memb ...


CEO Compensation Analysis

Compensation vs Market: Miroslaw's total compensation ($USD492.87K) is above average for companies of similar size in the Polish market ($USD209.01K).

Compensation vs Earnings: Miroslaw's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Miroslaw Bendzera
President of the Management Board & CEOno datazł1.90mno data
Beata Zawiszowska
CFO, VP & Member of Management Board2.08yrszł1.41mno data
Tomasz Jakubowski
VP of Underground Segment2.08yrszł794.00kno data
Dawid Gruszczyk
VP of Domestic Sales4.75yrszł987.00kno data
Adam Toborek
VP of Export Sales2.75yrszł1.02mno data
Ireneusz Kazimierski
VP of Surface Segment & Member of Management Board0.92yrzł49.00kno data

2.1yrs

Average Tenure

Experienced Management: FMF's management team is considered experienced (2.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Magdalena Zajaczkowska-Ejsymont
Member of Supervisory Boardno datazł6.00kno data
Tomasz Domogala
Chairman of the Supervisory Board10.75yrszł6.00kno data
Czeslaw Kisiel
Vice Chairman of the Supervisory Boardno datazł5.00kno data
Jacek Leonkiewicz
Member of Supervisory Boardno datazł10.00kno data
Dorota Wyjadlowska
Independent Member of Supervisory Board3yrszł18.00kno data
Tomasz Kruk
Independent Member of the Supervisory Board2yrszł19.00kno data

3.0yrs

Average Tenure

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

Famur S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Famur S.A.
  • Ticker: FMF
  • Exchange: WSE
  • Founded: 2002
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Market Cap: zł947.202m
  • Shares outstanding: 574.76m
  • Website: https://www.famur.com

Number of Employees


Location

  • Famur S.A.
  • ul. Armii Krajowej 51
  • Katowice
  • 40-698
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FMFWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNAug 2006
0OI8LSE (London Stock Exchange)YesCommon Bearer SharesGBPLNAug 2006
8MFBST (Boerse-Stuttgart)YesCommon Bearer SharesDEEURAug 2006

Biography

Famur S.A. manufactures and sells mining machinery and equipment in Poland. It operates through Underground, Surface, Electrical Equipment, and Mining Industry Services segments. The Underground segment of ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/20 21:08
End of Day Share Price2020/10/20 00:00
Earnings2020/06/30
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.