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TIM

TIM WSE:TIM Stock Report

Last Price

zł25.80

Market Cap

zł572.7m

7D

0.6%

1Y

-38.4%

Updated

04 Oct, 2022

Data

Company Financials +
TIM fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance5/6
Financial Health5/6
Dividends4/6

TIM Stock Overview

TIM S.A. distributes electro technical products to business and individual customers in Poland.

TIM Competitors

Price History & Performance

Summary of all time highs, changes and price drops for TIM
Historical stock prices
Current Share Pricezł25.80
52 Week Highzł46.00
52 Week Lowzł21.35
Beta0.62
1 Month Change-4.80%
3 Month Change-8.02%
1 Year Change-38.43%
3 Year Change192.52%
5 Year Change237.26%
Change since IPO141.12%

Recent News & Updates

Aug 19
Investors Should Be Encouraged By TIM's (WSE:TIM) Returns On Capital

Investors Should Be Encouraged By TIM's (WSE:TIM) Returns On Capital

To find a multi-bagger stock, what are the underlying trends we should look for in a business? One common approach is...

May 07
If You Like EPS Growth Then Check Out TIM (WSE:TIM) Before It's Too Late

If You Like EPS Growth Then Check Out TIM (WSE:TIM) Before It's Too Late

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

Shareholder Returns

TIMPL Trade DistributorsPL Market
7D0.6%-0.4%-2.2%
1Y-38.4%-24.8%-36.0%

Return vs Industry: TIM underperformed the Polish Trade Distributors industry which returned -24.8% over the past year.

Return vs Market: TIM underperformed the Polish Market which returned -36% over the past year.

Price Volatility

Is TIM's price volatile compared to industry and market?
TIM volatility
TIM Average Weekly Movement6.3%
Trade Distributors Industry Average Movement6.5%
Market Average Movement6.1%
10% most volatile stocks in PL Market11.6%
10% least volatile stocks in PL Market3.9%

Stable Share Price: TIM is not significantly more volatile than the rest of Polish stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: TIM's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1987618Krzysztof Foltahttps://www.tim.pl

TIM S.A. distributes electro technical products to business and individual customers in Poland. Its products include electrical apparatus, sockets and connectors, light sources, cables and wires, cable routing elements, switchgears and enclosures, power tools and meters, house and garden products, office supplies, light fixtures, connecting accessories, protective and health and safety clothing, consumer electronics, ventilation and heating products, and lightning protection products; intercoms and bells, photovoltaics, and pneumatics; IT and GSM products; hobbies, health, and tourism products; and electronic home appliances, as well as alarms, monitoring, and communication products. The company sells its products through its Website TIM.pl and mobile application mTIM; and a network of sales offices and sales representatives.

TIM Fundamentals Summary

How do TIM's earnings and revenue compare to its market cap?
TIM fundamental statistics
Market Capzł572.74m
Earnings (TTM)zł109.13m
Revenue (TTM)zł1.48b

5.2x

P/E Ratio

0.4x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TIM income statement (TTM)
Revenuezł1.48b
Cost of Revenuezł1.13b
Gross Profitzł349.54m
Other Expenseszł240.41m
Earningszł109.13m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 23, 2022

Earnings per share (EPS)4.92
Gross Margin23.55%
Net Profit Margin7.35%
Debt/Equity Ratio2.6%

How did TIM perform over the long term?

See historical performance and comparison

Dividends

9.3%

Current Dividend Yield

24%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

TIM 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/Revenue0.4x
Enterprise Value/EBITDA4.1x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does TIM's PE Ratio compare to its peers?

TIM PE Ratio vs Peers
The above table shows the PE ratio for TIM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average3.4x
GRN Grodno Spólka Akcyjna
5.3xn/azł235.3m
BOW Bowim
1.2xn/azł163.5m
STF Stalprofil
1.2xn/azł151.0m
BRG Berling
5.9xn/azł79.9m
TIM TIM
5.2xn/azł572.7m

Price-To-Earnings vs Peers: TIM is expensive based on its Price-To-Earnings Ratio (5.2x) compared to the peer average (3.4x).


Price to Earnings Ratio vs Industry

How does TIM's PE Ratio compare vs other companies in the European Trade Distributors Industry?

Price-To-Earnings vs Industry: TIM is good value based on its Price-To-Earnings Ratio (5.2x) compared to the European Trade Distributors industry average (11x)


Price to Earnings Ratio vs Fair Ratio

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

TIM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.2x
Fair PE Ration/a

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


Share Price vs Fair Value

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

Below Fair Value: TIM (PLN25.8) is trading below our estimate of fair value (PLN109.91)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is TIM forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


3.3%

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 TIM 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.


Discover growth companies

  • Examine whether TIM is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • TIM competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has TIM performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


63.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TIM has high quality earnings.

Growing Profit Margin: TIM's current net profit margins (7.4%) are higher than last year (6%).


Past Earnings Growth Analysis

Earnings Trend: TIM has become profitable over the past 5 years, growing earnings by 63.3% per year.

Accelerating Growth: TIM's earnings growth over the past year (54.3%) is below its 5-year average (63.3% per year).

Earnings vs Industry: TIM earnings growth over the past year (54.3%) exceeded the Trade Distributors industry 31.3%.


Return on Equity

High ROE: TIM's Return on Equity (43.8%) is considered outstanding.


Discover strong past performing companies

Financial Health

How is TIM's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: TIM's short term assets (PLN522.1M) exceed its short term liabilities (PLN339.6M).

Long Term Liabilities: TIM's short term assets (PLN522.1M) exceed its long term liabilities (PLN117.3M).


Debt to Equity History and Analysis

Debt Level: TIM has more cash than its total debt.

Reducing Debt: TIM's debt to equity ratio has increased from 0.7% to 2.6% over the past 5 years.

Debt Coverage: TIM's debt is well covered by operating cash flow (1392%).

Interest Coverage: TIM's interest payments on its debt are well covered by EBIT (14.9x coverage).


Balance Sheet


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Dividend

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

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


9.30%

Current Dividend Yield

Dividend Yield vs Market

TIM Dividend Yield vs Market
How does TIM dividend yield compare to the market?
SegmentDividend Yield
Company (TIM)9.3%
Market Bottom 25% (PL)3.0%
Market Top 25% (PL)9.4%
Industry Average (Trade Distributors)11.1%
Analyst forecast in 3 Years (TIM)n/a

Notable Dividend: TIM's dividend (9.3%) is higher than the bottom 25% of dividend payers in the Polish market (3.04%).

High Dividend: TIM's dividend (9.3%) is low compared to the top 25% of dividend payers in the Polish market (9.36%).


Stability and Growth of Payments

Stable Dividend: TIM's dividend payments have been volatile in the past 10 years.

Growing Dividend: TIM's dividend payments have increased over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (24.4%), TIM's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (64.4%), TIM's dividend payments are covered by cash flows.


Discover strong dividend paying companies

Management

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

5.6yrs

Average management tenure


CEO

Krzysztof Folta

27.33yrs

Tenure

zł1,410,000

Compensation

Mr. Krzysztof Folta, M.Sc. Eng. has been the President of the Management Board at TIM Spolka Akcyjna since June 15, 1995 and also serves as its Member of The Management Board. Mr. Folta serves as the Chief...


CEO Compensation Analysis

Krzysztof Folta's Compensation vs TIM Earnings
How has Krzysztof Folta's remuneration changed compared to TIM's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

zł109m

Mar 31 2022n/an/a

zł110m

Dec 31 2021zł1mzł690k

zł92m

Sep 30 2021n/an/a

zł85m

Jun 30 2021n/an/a

zł71m

Mar 31 2021n/an/a

zł50m

Dec 31 2020zł1mzł600k

zł37m

Sep 30 2020n/an/a

zł25m

Jun 30 2020n/an/a

zł21m

Mar 31 2020n/an/a

zł16m

Dec 31 2019zł12mzł12m

zł20m

Sep 30 2019n/an/a

zł18m

Jun 30 2019n/an/a

zł17m

Mar 31 2019n/an/a

zł17m

Dec 31 2018zł795kn/a

zł15m

Sep 30 2018n/an/a

zł10m

Jun 30 2018n/an/a

zł6m

Mar 31 2018n/an/a

zł141k

Dec 31 2017n/an/a

-zł4m

Sep 30 2017n/an/a

-zł4m

Jun 30 2017n/an/a

-zł7m

Mar 31 2017n/an/a

-zł4m

Dec 31 2016zł777kzł508k

zł2m

Sep 30 2016n/an/a

zł8m

Jun 30 2016n/an/a

zł11m

Mar 31 2016n/an/a

zł9m

Dec 31 2015zł429kn/a

zł5m

Compensation vs Market: Krzysztof's total compensation ($USD292.36K) is about average for companies of similar size in the Polish market ($USD253.76K).

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


Leadership Team

Experienced Management: TIM's management team is seasoned and experienced (5.6 years average tenure).


Board Members

Experienced Board: TIM's board of directors are seasoned and experienced ( 19.3 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

What is the ownership structure of TIM?
Owner TypeNumber of SharesOwnership Percentage
Institutions4,435,46420.0%
Individual Insiders8,421,05537.9%
General Public9,342,68142.1%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 57.7% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
23.45%
Krzysztof Folta
5,204,814PLN134.3m0%no data
13.51%
Krzysztof Wieczorkowski
3,000,000PLN77.4m0%no data
7.05%
NN Investment Partners Holdings N.V.
1,565,649PLN40.4m0%0.03%
4.97%
Rockbridge TFI S.A.
1,104,108PLN28.5m0%8.77%
2.66%
Norges Bank Investment Management
590,520PLN15.2m0%no data
1.38%
Santander Towarzystwo Funduszy Inwestycyjnych S.A.
306,948PLN7.9m-46.09%0.26%
0.91%
Piotr Tokarczuk
202,000PLN5.2m0%no data
0.75%
Value Square NV
166,553PLN4.3m0%0.32%
0.51%
AgioFunds Towarzystwo Funduszy Inwestycyjnych S.A.
114,000PLN2.9m0%0.51%
0.39%
Dimensional Fund Advisors LP
85,784PLN2.2m2.19%no data
0.33%
AXA Towarzystwo Funduszy Inwestycyjnych S.A.
73,643PLN1.9m-42.7%0.2%
0.25%
Quercus TFI S.A.
55,694PLN1.4m21.88%0.28%
0.21%
Skarbiec Towarzystwo Funduszy Inwestycyjnych S.A.
45,966PLN1.2m-61.84%0.06%
0.2%
Towarzystwo Funduszy Inwestycyjnych PZU SA
45,083PLN1.2m-17.66%0.04%
0.18%
The Vanguard Group, Inc.
40,641PLN1.0m0%no data
0.16%
Esaliens TFI S.A.
35,000PLN903.0k0%0.09%
0.14%
BG Fund Management Luxembourg S.A.
30,664PLN791.1k0%0.01%
0.11%
Millennium Towarzystwo Funduszy Inwestycyjnych SA
24,441PLN630.6k-62.57%0.13%
0.092%
Aviva Investors Poland Towarzystwo Funduszy Inwestycyjnych S.A.
20,468PLN528.1k0%0.05%
0.084%
Acadian Asset Management LLC
18,586PLN479.5k0.02%no data
0.077%
Metlife Towarzystwo Funduszy Inwestycyjnych S.A.
17,184PLN443.3k-44%0.02%
0.072%
NFS Capital AG
16,075PLN414.7k0%0.04%
0.071%
Ipopema Towarzystwo Funduszy Inwestycyjnych S.A.
15,782PLN407.2k-8.68%0.07%
0.065%
Alior Towarzystwo Funduszy Inwestycyjnych S.A.
14,500PLN374.1k0%0.62%
0.064%
Piotr Nosal
14,241PLN367.4k0%no data

Company Information

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


Key Information

  • Name: TIM S.A.
  • Ticker: TIM
  • Exchange: WSE
  • Founded: 1987
  • Industry: Trading Companies and Distributors
  • Sector: Capital Goods
  • Implied Market Cap: zł572.739m
  • Shares outstanding: 22.20m
  • Website: https://www.tim.pl

Number of Employees


Location

  • TIM S.A.
  • ul. Jaworska 13
  • Wroclaw
  • 53-612
  • Poland


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TIMWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNMar 1998
7G2DB (Deutsche Boerse AG)YesCommon Bearer SharesDEEURMar 1998

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/04 00:00
End of Day Share Price2022/10/04 00:00
Earnings2022/06/30
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.