Stock Analysis Report

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Last Updated

2021/07/31 17:01 UTC

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Company Financials

Executive Summary

Instal Kraków S.A. engages in the construction business in Poland and internationally. More Details

Snowflake Analysis

Flawless balance sheet and good value.

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Share Price & News

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

Latest Share Price and Events

Stable Share Price: INK is less volatile than 75% of Polish stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: INK's weekly volatility (3%) has been stable over the past year.

Market Performance

7 Day Return




PL Construction


PL Market

1 Year Return




PL Construction


PL Market

Return vs Industry: INK underperformed the Polish Construction industry which returned 94% over the past year.

Return vs Market: INK exceeded the Polish Market which returned 30.8% over the past year.

Shareholder returns

7 Day0%2.0%0.1%
30 Day0.9%2.3%1.3%
90 Day9.9%4.9%7.8%
1 Year93.2%65.6%99.3%94.0%33.3%30.8%
3 Year193.0%127.5%77.9%69.1%14.3%8.1%
5 Year235.0%150.6%16.0%8.6%31.7%19.3%

Long-Term Price Volatility Vs. Market

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

Simply Wall St News


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


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: INK (PLN32.3) is trading below our estimate of fair value (PLN146.19)

Significantly Below Fair Value: INK is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: INK's PE Ratio (10.6x) is in line with the Polish Construction industry average.

PE vs Market: INK is good value based on its PE Ratio (10.6x) compared to the Polish market (14.5x).

Price to Earnings Growth Ratio

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

Price to Book Ratio

PB vs Industry: INK is good value based on its PB Ratio (0.9x) compared to the PL Construction industry average (1.3x).

Future Growth

How is Instal Kraków forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?


Forecasted Capital Goods industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Instal Kraków has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Instal Kraków performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: INK has high quality earnings.

Growing Profit Margin: INK's current net profit margins (5.7%) are lower than last year (6.3%).

Past Earnings Growth Analysis

Earnings Trend: INK's earnings have grown significantly by 20.8% per year over the past 5 years.

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

Earnings vs Industry: INK had negative earnings growth (-24.3%) over the past year, making it difficult to compare to the Construction industry average (34.1%).

Return on Equity

High ROE: INK's Return on Equity (8.1%) is considered low.

Financial Health

How is Instal Kraków's financial position?

Financial Position Analysis

Short Term Liabilities: INK's short term assets (PLN239.1M) exceed its short term liabilities (PLN99.0M).

Long Term Liabilities: INK's short term assets (PLN239.1M) exceed its long term liabilities (PLN26.5M).

Debt to Equity History and Analysis

Debt Level: INK's debt to equity ratio (3.7%) is considered satisfactory.

Reducing Debt: INK's debt to equity ratio has reduced from 6.3% to 3.7% over the past 5 years.

Debt Coverage: INK's debt is well covered by operating cash flow (572.6%).

Interest Coverage: INK's interest payments on its debt are well covered by EBIT (26.7x coverage).

Balance Sheet


What is Instal Kraków current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: INK's dividend (4.64%) is higher than the bottom 25% of dividend payers in the Polish market (2.06%).

High Dividend: INK's dividend (4.64%) is low compared to the top 25% of dividend payers in the Polish market (5.94%).

Stability and Growth of Payments

Stable Dividend: INK has been paying a dividend for less than 10 years and during this time payments have been volatile.

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

Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49.1%), INK's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Next Steps


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


Average board tenure


Piotr Juszczyk





Mr. Piotr Juszczyk has been the Member of the Management Board and Chief Executive Officer of Instal Kraków Spólka Akcyjna since 1992 and served as its General Director.

CEO Compensation Analysis

Compensation vs Market: Piotr's total compensation ($USD769.15K) is above average for companies of similar size in the Polish market ($USD178.43K).

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

Board Members

Experienced Board: INK's board of directors are not considered experienced ( 2 years average tenure), which suggests a new board.


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

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

Key Information

  • Name: Instal Kraków S.A.
  • Ticker: INK
  • Exchange: WSE
  • Founded: 1950
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: zł235.322m
  • Shares outstanding: 7.29m
  • Website:

Number of Employees


  • Instal Kraków S.A.
  • ul. Konstantego Brandla 1
  • Kraków
  • 30-732
  • Poland



Instal Kraków S.A. engages in the construction business in Poland and internationally. It constructs and assembles industrial, commercial, sports, public facilities, etc.; desulphurisation, denitrification...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/07/31 17:01
End of Day Share Price2021/07/30 00:00
Annual Earnings2020/12/31

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.