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Herkules

WSE:HRS
Snowflake Description

Fair value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HRS
WSE
PLN92M
Market Cap
  1. Home
  2. PL
  3. Capital Goods
Company description

Herkules S.A. engages in the hoisting equipment rental and oversize load shipping activities in Poland. The last earnings update was 113 days ago. More info.


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HRS Share Price and Events
7 Day Returns
0.4%
WSE:HRS
1.8%
PL Trade Distributors
1.5%
PL Market
1 Year Returns
-17.9%
WSE:HRS
-32.4%
PL Trade Distributors
-1.4%
PL Market
HRS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Herkules (HRS) 0.4% -6.6% -9.2% -17.9% -34.4% 7.1%
PL Trade Distributors 1.8% 2% 0.5% -32.4% -19.4% -33.2%
PL Market 1.5% 1.9% 6.4% -1.4% 13.9% -3.2%
1 Year Return vs Industry and Market
  • HRS outperformed the Trade Distributors industry which returned -32.4% over the past year.
  • HRS underperformed the Market in Poland which returned -1.4% over the past year.
Price Volatility
HRS
Industry
5yr Volatility vs Market

Value

 Is Herkules 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 Herkules 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 Herkules.

WSE:HRS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 14.2%
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:HRS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.923 (1 + (1- 19%) (128.61%))
1.593
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.59
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.593 * 7.14%)
14.23%

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

The calculations below outline how an intrinsic value for Herkules 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:HRS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 14.23%)
2019 43.03 Est @ 14.24% 37.68
2020 47.69 Est @ 10.83% 36.55
2021 51.72 Est @ 8.43% 34.70
2022 55.21 Est @ 6.76% 32.43
2023 58.30 Est @ 5.59% 29.98
2024 61.07 Est @ 4.77% 27.50
2025 63.63 Est @ 4.19% 25.08
2026 66.04 Est @ 3.79% 22.79
2027 68.36 Est @ 3.51% 20.65
2028 70.62 Est @ 3.31% 18.68
Present value of next 10 years cash flows PLN286.03
WSE:HRS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN70.62 × (1 + 2.85%) ÷ (14.23% – 2.85%)
PLN638.51
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN638.51 ÷ (1 + 14.23%)10
PLN168.86
WSE:HRS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN286.03 + PLN168.86
PLN454.89
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN454.89 / 36.13
PLN12.59
WSE:HRS Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN12.59
Current discount Discount to share price of PLN2.56
= -1 x (PLN2.56 - PLN12.59) / PLN12.59
79.7%

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

Current Discount
Amount off the current price Herkules is available for.
Intrinsic value
>50%
Share price is PLN2.56 vs Future cash flow value of PLN12.59
Current Discount Checks
For Herkules to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Herkules's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Herkules's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Herkules's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Herkules's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:HRS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in PLN PLN0.07
WSE:HRS Share Price ** WSE (2019-03-22) in PLN PLN2.56
Poland Trade Distributors Industry PE Ratio Median Figure of 17 Publicly-Listed Trade Distributors Companies 10.86x
Poland Market PE Ratio Median Figure of 467 Publicly-Listed Companies 11.04x

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

** Primary Listing of Herkules.

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

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

= 2.56 ÷ 0.07

38.13x

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

  • Herkules is overvalued based on earnings compared to the PL Trade Distributors industry average.
  • Herkules is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does Herkules's expected growth come at a high price?
Raw Data
WSE:HRS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 38.13x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
19%per year
Europe Trade Distributors Industry PEG Ratio Median Figure of 29 Publicly-Listed Trade Distributors Companies 1.77x
Poland Market PEG Ratio Median Figure of 105 Publicly-Listed Companies 1.13x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Herkules, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Herkules's assets?
Raw Data
WSE:HRS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in PLN PLN4.80
WSE:HRS Share Price * WSE (2019-03-22) in PLN PLN2.56
Poland Trade Distributors Industry PB Ratio Median Figure of 18 Publicly-Listed Trade Distributors Companies 0.56x
Poland Market PB Ratio Median Figure of 690 Publicly-Listed Companies 1.02x
WSE:HRS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 2.56 ÷ 4.80

0.53x

* Primary Listing of Herkules.

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

  • Herkules is good value based on assets compared to the PL Trade Distributors industry average.
X
Value checks
We assess Herkules'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 Trade Distributors 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 Trade Distributors industry average (and greater than 0)? (1 check)
  5. Herkules has a total score of 3/6, 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.

Future Performance

 How is Herkules expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Herkules, future earnings growth has been estimated based on fundamentals.
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
19%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Herkules expected to grow at an attractive rate?
  • Herkules's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Herkules's earnings growth is expected to exceed the Poland market average.
  • Unable to compare Herkules's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:HRS Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:HRS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 19%
Poland Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 4.5%
Europe Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.4%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*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:HRS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:HRS Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
WSE:HRS Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-09-30 125 41 3
2018-06-30 127 52 1
2018-03-31 130 35 2
2017-12-31 129 29 2
2017-09-30 130 31 7
2017-06-30 134 27 9
2017-03-31 133 18 13
2016-12-31 128 22 10
2016-09-30 136 29 28
2016-06-30 148 37 34
2016-03-31 150 44 31
2015-12-31 156 37 32

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Herkules's earnings are expected to grow by 19% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Herkules is high growth as no revenue estimate data is available.
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:HRS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Herkules Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:HRS Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
WSE:HRS Past Financials Data
Date (Data in PLN Millions) EPS *
2018-09-30 0.07
2018-06-30 0.03
2018-03-31 0.05
2017-12-31 0.05
2017-09-30 0.17
2017-06-30 0.20
2017-03-31 0.29
2016-12-31 0.24
2016-09-30 0.65
2016-06-30 0.79
2016-03-31 0.72
2015-12-31 0.74

*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 Herkules will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Herkules'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 Poland 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.
Herkules has a total score of 2/6, 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.

Past Performance

  How has Herkules 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 Herkules's growth in the last year to its industry (Trade Distributors).
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.
  • Herkules's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Herkules's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Herkules's 1-year earnings growth is negative, it can't be compared to the PL Trade Distributors industry average.
Earnings and Revenue History
Herkules'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 Herkules Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:HRS Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 124.68 2.92 78.64
2018-06-30 127.28 1.14 78.31
2018-03-31 129.54 2.31 78.20
2017-12-31 128.81 1.97 78.41
2017-09-30 130.16 7.38 77.86
2017-06-30 133.76 8.62 80.26
2017-03-31 133.05 12.53 77.55
2016-12-31 127.74 10.28 75.15
2016-09-30 136.48 28.40 80.00
2016-06-30 147.80 34.38 81.62
2016-03-31 149.73 31.05 84.43
2015-12-31 155.70 32.20 86.84
2015-09-30 158.25 16.90 84.88
2015-06-30 141.69 11.04 77.59
2015-03-31 132.94 9.88 71.66
2014-12-31 124.01 9.42 65.81
2014-09-30 104.44 5.15 56.27
2014-06-30 99.22 4.26 54.06
2014-03-31 98.37 2.82 54.32
2013-12-31 100.02 3.68 54.70
2013-09-30 95.60 2.37 53.64
2013-06-30 96.81 1.10 54.19
2013-03-31 94.99 0.28 52.76
2012-12-31 96.93 1.02 53.47
2012-09-30 107.69 5.48 56.84
2012-06-30 112.56 7.90 57.88
2012-03-31 115.74 10.19 58.44

*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.
  • Herkules has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Herkules used its assets less efficiently than the PL Trade Distributors industry average last year based on Return on Assets.
  • Herkules's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Herkules'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 Trade Distributors 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.
Herkules has a total score of 1/6, 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.

Health

 How is Herkules'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 Herkules's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Herkules is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Herkules's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Herkules'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 not covered by short term assets, assets are 0.8x 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 Herkules Company Filings, last reported 5 months ago.

WSE:HRS Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 208.12 118.94 30.36
2018-06-30 209.01 113.63 40.05
2018-03-31 214.49 103.71 19.36
2017-12-31 212.35 109.08 9.82
2017-09-30 222.52 98.21 10.90
2017-06-30 221.41 103.99 9.67
2017-03-31 229.16 89.33 1.60
2016-12-31 228.73 99.34 8.35
2016-09-30 228.00 103.65 5.56
2016-06-30 224.48 111.49 12.93
2016-03-31 225.97 111.28 19.87
2015-12-31 226.93 103.79 15.04
2015-09-30 207.16 102.27 8.62
2015-06-30 197.70 106.39 4.63
2015-03-31 196.49 108.69 4.67
2014-12-31 195.97 100.08 4.87
2014-09-30 191.63 99.03 1.07
2014-06-30 188.72 100.53 1.90
2014-03-31 186.33 83.15 4.04
2013-12-31 185.63 76.42 4.18
2013-09-30 185.93 79.76 0.54
2013-06-30 183.92 73.49 1.01
2013-03-31 183.02 77.16 1.02
2012-12-31 182.00 77.96 1.95
2012-09-30 183.62 84.01 1.10
2012-06-30 183.37 86.29 0.18
2012-03-31 183.23 83.13 0.69
  • Herkules's level of debt (57.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (42.9% vs 57.2% today).
  • Debt is well covered by operating cash flow (34.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.8x coverage).
X
Financial health checks
We assess Herkules'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. Herkules has a total score of 3/6, 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.

Dividends

 What is Herkules'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
2.73%
Current annual income from Herkules dividends.
If you bought PLN2,000 of Herkules shares you are expected to receive PLN55 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?
  • Herkules's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.56%).
  • Herkules's dividend is below the markets top 25% of dividend payers in Poland (7.55%).
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:HRS 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 0 Analyst Estimates (S&P Global) See Below
Poland Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 2.3%
Poland Market Average Dividend Yield Market Cap Weighted Average of 208 Stocks 3.3%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.4%
Poland Bottom 25% Dividend Yield 25th Percentile 2.6%
Poland Top 25% Dividend Yield 75th Percentile 7.6%

Industry and Market average data is calculated daily.

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

WSE:HRS Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
WSE:HRS Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2018-05-28 0.070 2.461
2018-04-27 0.070 2.270
2017-04-28 0.160 4.403
2016-04-28 0.160 4.675
2016-02-29 0.160 4.117
2015-05-14 0.060 1.471
2015-04-30 0.060 1.453

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

  • Herkules has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Herkules only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Herkules's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (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 Herkules's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - 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 Herkules afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Herkules has a total score of 1/6, see the detailed checks below.


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

Management

 What is the CEO of Herkules'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
Grzegorz Zólcik
COMPENSATION PLN0
CEO Bio

Mr. Grzegorz Piotr Zólcik has been President of the Management Board at Herkules S.A. since 2010. Mr. Zólcik serves as President of the Management Board at CDRL Spólka Akcyjna. Mr. Zólcik has been Vice President of the Management Board at Gastel Hotele Sp. z o.o. since 2013. He serves as the Chairman of the Board of Management at Herkules Spólka Akcyjna. He served as the President at EFH Zurawie Wiezowe SA. From 1998 to 2000, he served as Chief Executive Officer and President of the Management Board at Budimex Olsztyn S.A. From 2000 to 2001, he served as a Member of the Management Board at Mostostal Warszawa S.A. From 2004 to 2006, he served as President of the Management Board at EFH Zurawie Wiezowe Sp. z o.o. He has been the Chairman of Supervisory Board at Viatron Spólka Akcyjna since November 17, 2014 and serves as its Member of Supervisory Board. He has been a Member of the Supervisory Board at Gastel Prefabrykacja S. A. since 2012.

CEO Compensation
  • Grzegorz's compensation has been consistent with company performance over the past year.
  • Grzegorz's remuneration is higher than average for companies of similar size in Poland.
Management Team

Grzegorz Zólcik

TITLE
President of the Management Board

Tomasz Kwiecinski

TITLE
Vice President of the Management Board

Krzysztof Olenski

TITLE
Member of Management Board
Board of Directors

Jan Soldaczuk

TITLE
Member of Supervisory Board

Lukasz Dziekonski

TITLE
Member of the Supervisory Board

Jacek Osowski

TITLE
Member of the Supervisory Board

Marcin Kolodziejczyk

TITLE
Member of Supervisory Board
TENURE
2 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 Herkules'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. Herkules 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.

News

Simply Wall St News

What Does Herkules S.A.’s (WSE:HRS) 7.3% ROCE Say About The Business?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is 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.

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Imagine Owning Herkules And Wondering If The 38% Share Price Slide Is Justified

(WSE:HRS) shareholders, since the share price is down 38% in the last three years, falling well short of the market return of around 29%. … And over the last year the share price fell 29%, so we doubt many shareholders are delighted. … This fall in the EPS is worse than the 15% compound annual share price fall.

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Are Herkules S.A.'s (WSE:HRS) Interest Costs Too High?

Help shape the future of investing tools and you could win a $250 gift card! … Investors are always looking for growth in small-cap stocks like Herkules S.A. … However, an important fact which most ignore is: how financially healthy is the business?

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Don't Sell Herkules S.A. (WSE:HRS) Before You Read This

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Herkules S.A.'s (WSE:HRS) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

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Do Insiders Own Shares In Herkules S.A. (WSE:HRS)?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Herkules is not a large company by global standards. … Our analysis of the ownership of the company, below, shows that.

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Herkules SA (WSE:HRS): Why Return On Capital Employed Is Important

and want to begin learning the link between Herkules SA (WSE:HRS)’s return fundamentals and stock market performance. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Herkules’s capital returns we will look at a useful metric called return on capital employed.

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Investors In Herkules SA (WSE:HRS) Should Consider This Data

In the last few years Herkules SA (WSE:HRS) has paid a dividend to shareholders. … Let's take a look at Herkules in more detail. … 5 checks you should do on a dividend stock

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What You Must Know About Herkules SA's (WSE:HRS) Financial Strength

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … So, understanding the company's financial health becomes. … Here are a few basic checks that are good enough to have a broad overview of the company’s financial strength.

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Only 2 Days Left Before Herkules SA (WSE:HRS) Will Start Trading Ex-Dividend, Should You Buy?

To qualify for the dividend check of zł0.07 per share, investors must have owned the shares prior to 28 August 2018, which is the last day the company's management will finalize their list of shareholders to which they will send dividend payments. … 5 checks you should use to assess a dividend stock? … If you are a dividend investor, you should always assess these five key metrics:?

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Has Herkules SA's (WSE:HRS) Earnings Momentum Changed Recently?

When Herkules SA (WSE:HRS) announced its most recent earnings (31 March 2018), I did two things: looked at its past earnings track record, then look at what is happening in the industry. … Was HRS's recent earnings decline worse than the long-term trend and the industry. … HRS's trailing twelve-month earnings (from 31 March 2018) of zł2.31m has

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Company Info

Description

Herkules S.A. engages in the hoisting equipment rental and oversize load shipping activities in Poland. The company rents tower, field, self-propelled, and tracked cranes, as well as offers professional engineer, operator support, and technical advice services. It also provides construction and assembly services for general structures, wind farms, telecommunications, and electrical energy facilities; and manufactures electrical pylons and reinforced concrete containers, as well as pretensioned concrete masts for use in the energy, telecommunications, and advertising industries. In addition, the company undertakes construction, assembly, and electrical works; and offers wind farm equipment installation and assembly, and road-based oversize load shipping services, as well as hardware support services for the project and construction logistics. It serves construction industry, as well as its sub-industries comprising infrastructure and road construction, structures construction, complicated industrial and power generating facilities, and wind farm assembly management. The company was formerly known as Gastel Zurawie S.A. and changed its name to Herkules S.A. in December 2011. Herkules S.A. is headquartered in Warsaw, Poland.

Details
Name: Herkules S.A.
HRS
Exchange: WSE
Founded:
PLN92,482,739
36,126,070
Website: http://www.herkules-polska.pl
Address: Herkules S.A.
ul. Annopol 5,
Warsaw,
03-236,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE HRS Common Bearer Shares Warsaw Stock Exchange PL PLN 05. Mar 2010
Number of employees
Current staff
Staff numbers
0
Herkules employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/22 21:23
End of day share price update: 2019/03/22 00:00
Last estimates confirmation: 2018/04/27
Last earnings filing: 2018/11/29
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


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.