WSE:BFT

Stock Analysis Report

Executive Summary

Benefit Systems S.A. develops employee benefits programs in the areas of sport and leisure, culture, entertainment, and tourism in Poland, the Czech Republic, Slovakia, Bulgaria, and Croatia.

Snowflake

Fundamentals

Solid track record with mediocre balance sheet.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-0.9%

BFT

-1.3%

PL Professional Services

1.9%

PL Market


1 Year Return

-23.5%

BFT

-21.9%

PL Professional Services

0.2%

PL Market

Return vs Industry: BFT underperformed the Polish Professional Services industry which returned -21.9% over the past year.

Return vs Market: BFT underperformed the Polish Market which returned 0.2% over the past year.


Shareholder returns

BFTIndustryMarket
7 Day-0.9%-1.3%1.9%
30 Day-5.5%-4.9%0.5%
90 Day4.2%0.9%-5.7%
1 Year-23.5%-23.5%-21.8%-21.9%3.3%0.2%
3 Year4.8%4.8%-23.6%-23.8%12.3%4.3%
5 Year157.0%151.6%7.4%5.5%0.2%-12.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

15.85x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BFT (PLN692) is trading above our estimate of fair value (PLN625.32)

Significantly Below Fair Value: BFT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BFT is poor value based on its PE Ratio (15.9x) compared to the Professional Services industry average (13.5x).

PE vs Market: BFT is poor value based on its PE Ratio (15.9x) compared to the Polish market (10.1x).


Price to Earnings Growth Ratio

PEG Ratio: BFT is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: BFT is overvalued based on its PB Ratio (3.1x) compared to the PL Professional Services industry average (1.6x).


Next Steps

Future Growth

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

10.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BFT's forecast earnings growth (10% per year) is above the savings rate (2.9%).

Earnings vs Market: BFT's earnings (10% per year) are forecast to grow slower than the Polish market (10.6% per year).

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

Revenue vs Market: BFT's revenue (12.9% per year) is forecast to grow faster than the Polish market (5.8% per year).

High Growth Revenue: BFT's revenue (12.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BFT's Return on Equity is forecast to be low in 3 years time (18%).


Next Steps

Past Performance

How has Benefit Systems performed over the past 5 years?

25.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BFT's earnings have grown significantly by 25.1% per year over the past 5 years.

Accelerating Growth: BFT's earnings growth over the past year (28.9%) exceeds its 5-year average (25.1% per year).

Earnings vs Industry: BFT earnings growth over the past year (28.9%) exceeded the Professional Services industry -28.2%.


Return on Equity

High ROE: BFT's Return on Equity (20.3%) is considered high.


Return on Assets

ROA vs Industry: BFT has a higher Return on Assets than the Professional Services industry average last year.


Return on Capital Employed

ROCE Improving: BFT's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Benefit Systems's financial position?


Financial Position Analysis

Short Term Liabilities: BFT's short term assets (PLN261.5M) do not cover its short term liabilities (PLN447.0M)

Long Term Liabilities: BFT's short term assets (261.5M) do not cover its long term liabilities (924.0M)


Debt to Equity History and Analysis

Debt Level: BFT's debt to equity ratio (32.5%) is considered satisfactory

Reducing Debt: BFT's debt to equity ratio has increased from 31.9% to 32.5% over the past 5 years.

Debt Coverage: BFT's debt is well covered by operating cash flow (103.7%).

Interest Coverage: BFT's interest payments on its debt are well covered by EBIT (28.3x coverage).


Balance Sheet

Inventory Level: BFT has a high level of physical assets or inventory.

Debt Coverage by Assets: BFT's debt is covered by short term assets (assets are 1.287920x debt).


Next Steps

Dividend

What is Benefit Systems's current dividend yield, its reliability and sustainability?

2.96%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%2.7%markettop25%7.2%industryaverage2.6%forecastin3Years3.0%

Current dividend yield vs market & industry


Stability and Growth of Payments

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

High Dividend: Unable to evaluate BFT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if BFT's dividends per share have been stable in the past.

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


Current Payout to Shareholders

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


Future Payout to Shareholders

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


Next Steps

Management

What is the CEO of Benefit Systems's salary, the management and board of directors tenure and is there insider trading?


CEO

Benefit Systems has no CEO, or we have no data on them.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Izabela Walcezewska-Schneyder

    Chief Financial Officer

    • Tenure: 0yrs
    • Compensation: zł630.00k
  • Emilia Rogalewicz

    Member of Management Board

    • Tenure: 0yrs
    • Compensation: zł173.00k
  • Adam Radzki

    Member of Management Board

    • Tenure: 0yrs
    • Compensation: zł147.00k
  • Wojciech Szwarc

    Member of Management Board

    • Tenure: 0yrs

Board Members

  • Artur Osuchowski

    Member of Supervisory Board

    • Tenure: 0yrs
    • Compensation: zł30.00k
  • Michael Pedersen (62yo)

    Member of the Supervisory Board

    • Tenure: 0yrs
  • James Van Bergh

    Chairman of Supervisory Board

    • Tenure: 0yrs
    • Compensation: zł120.00k
  • Marcin Marczuk

    Deputy Chairman of Supervisory Board

    • Tenure: 0yrs
    • Compensation: zł33.00k
  • Michael Sanderson

    Member of Supervisory Board

    • Tenure: 9.4yrs
    • Compensation: zł30.00k

Company Information

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


Key Information

  • Name: Benefit Systems S.A.
  • Ticker: BFT
  • Exchange: WSE
  • Founded: 2000
  • Industry: Human Resource and Employment Services
  • Sector: Commercial Services
  • Market Cap: zł1.940b
  • Shares outstanding: 2.80m
  • Website: https://www.benefitsystems.pl

Location

  • Benefit Systems S.A.
  • Plac Europejski 2
  • Warsaw
  • 00-844
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BFTWSE (Warsaw Stock Exchange)YesBearer SharesPLPLNApr 2011

Biography

Benefit Systems S.A. develops employee benefits programs in the areas of sport and leisure, culture, entertainment, and tourism in Poland, the Czech Republic, Slovakia, Bulgaria, and Croatia. Its programs  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 21:15
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.