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Blue Tax Group

WSE:BTG
Snowflake Description

Imperfect balance sheet with poor track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BTG
WSE
PLN1M
Market Cap
  1. Home
  2. PL
  3. Commercial Services
Company description

Blue Tax Group S.A. provides outsourcing consulting services in the fields of law, taxation, accounting, and finance in Poland. The last earnings update was 100 days ago. More info.


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BTG Share Price and Events
7 Day Returns
0%
WSE:BTG
8.5%
PL Professional Services
1.5%
PL Market
1 Year Returns
0%
WSE:BTG
-44.7%
PL Professional Services
-5%
PL Market
BTG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Blue Tax Group (BTG) 0% 0% 0% 0% 0% -50%
PL Professional Services 8.5% -29.2% -30.1% -44.7% -14.2% 7.2%
PL Market 1.5% -5.9% -5.4% -5% 8.4% -9.9%
1 Year Return vs Industry and Market
  • BTG outperformed the Professional Services industry which returned -44.7% over the past year.
  • BTG outperformed the Market in Poland which returned -5% over the past year.
Price Volatility
BTG
Industry
5yr Volatility vs Market

Value

 Is Blue Tax Group 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 Blue Tax Group 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 Blue Tax Group.

WSE:BTG 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 10.1%
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:BTG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Professional Services Unlevered Beta Simply Wall St/ S&P Global 0.88
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.878 (1 + (1- 19%) (20.77%))
1.017
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.02
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.017 * 7.14%)
10.11%

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

The calculations below outline how an intrinsic value for Blue Tax Group 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:BTG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 10.11%)
2019 0.04 Est @ -36.85% 0.04
2020 0.03 Est @ -24.94% 0.02
2021 0.02 Est @ -16.6% 0.02
2022 0.02 Est @ -10.77% 0.01
2023 0.02 Est @ -6.68% 0.01
2024 0.02 Est @ -3.82% 0.01
2025 0.02 Est @ -1.82% 0.01
2026 0.02 Est @ -0.42% 0.01
2027 0.02 Est @ 0.56% 0.01
2028 0.02 Est @ 1.25% 0.01
Present value of next 10 years cash flows PLN0.15
WSE:BTG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN0.02 × (1 + 2.85%) ÷ (10.11% – 2.85%)
PLN0.28
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN0.28 ÷ (1 + 10.11%)10
PLN0.11
WSE:BTG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN0.15 + PLN0.11
PLN0.26
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN0.26 / 140.00
PLN0
WSE:BTG Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN0.00
Current discount Discount to share price of PLN0.01
= -1 x (PLN0.01 - PLN0.00) / PLN0.00
-445.8%

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

  • The current share price of Blue Tax Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Blue Tax Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Blue Tax Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:BTG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN0.00
WSE:BTG Share Price ** WSE (2019-05-23) in PLN PLN0.01
Poland Professional Services Industry PE Ratio Median Figure of 11 Publicly-Listed Professional Services Companies 8.56x
Poland Market PE Ratio Median Figure of 463 Publicly-Listed Companies 10.75x

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

** Primary Listing of Blue Tax Group.

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

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

= 0.01 ÷ 0.00

-64.94x

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

  • Blue Tax Group is loss making, we can't compare its value to the PL Professional Services industry average.
  • Blue Tax Group is loss making, we can't compare the value of its earnings to the Poland market.
Price based on expected Growth
Does Blue Tax Group's expected growth come at a high price?
Raw Data
WSE:BTG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -64.94x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Professional Services Industry PEG Ratio Median Figure of 58 Publicly-Listed Professional Services Companies 1.59x
Poland Market PEG Ratio Median Figure of 113 Publicly-Listed Companies 0.93x

*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 Blue Tax Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Blue Tax Group's assets?
Raw Data
WSE:BTG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN0.00
WSE:BTG Share Price * WSE (2019-05-23) in PLN PLN0.01
Poland Professional Services Industry PB Ratio Median Figure of 17 Publicly-Listed Professional Services Companies 1.82x
Poland Market PB Ratio Median Figure of 689 Publicly-Listed Companies 0.97x
WSE:BTG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.01 ÷ 0.00

-8.9x

* Primary Listing of Blue Tax Group.

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

  • Blue Tax Group has negative assets, we can't compare the value of its assets to the PL Professional Services industry average.
X
Value checks
We assess Blue Tax Group'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 Professional Services 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 Professional Services industry average (and greater than 0)? (1 check)
  5. Blue Tax Group has a total score of 0/6, 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 Blue Tax Group expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 Blue Tax Group 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
2.6%
Expected Professional Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Blue Tax Group expected to grow at an attractive rate?
  • Unable to compare Blue Tax Group's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Blue Tax Group's earnings growth to the Poland market average as no estimate data is available.
  • Unable to compare Blue Tax Group's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:BTG Future Growth Rates Data Sources
Data Point Source Value (per year)
Poland Professional Services Industry Earnings Growth Rate Market Cap Weighted Average 2.6%
Europe Professional Services Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.1%
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:BTG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 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:BTG Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 1 0 0
2018-09-30 1 0 -1
2018-06-30 1 0 -1
2018-03-31 1 0 -1
2017-12-31 1 0 -1
2017-09-30 1 0 0
2017-06-30 1 0 0
2017-03-31 1 0 0
2016-12-31 1 0 0
2016-09-30 2 1 0
2016-06-30 2 1 0
2016-03-31 2 1 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Blue Tax Group is high growth as no earnings estimate data is available.
  • Unable to determine if Blue Tax Group 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:BTG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Blue Tax Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:BTG Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 0.00
2018-09-30 0.00
2018-06-30 0.00
2018-03-31 0.00
2017-12-31 0.00
2017-09-30 0.00
2017-06-30 0.00
2017-03-31 0.00
2016-12-31 0.00
2016-09-30 0.00
2016-06-30 0.00
2016-03-31 0.00

*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 Blue Tax Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Blue Tax Group's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Commercial Services companies here
  2. Blue Tax Group's competitive advantages and company strategy can generally be found in its financial reports archived here.
  3. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Blue Tax Group'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.
Blue Tax Group has a total score of 0/6, 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 Blue Tax Group 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 Blue Tax Group's growth in the last year to its industry (Professional Services).
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.
  • Blue Tax Group does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Blue Tax Group's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Blue Tax Group's 1-year growth to the PL Professional Services industry average as it is not currently profitable.
Earnings and Revenue History
Blue Tax Group'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 Blue Tax Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:BTG Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 0.95 -0.02 0.18
2018-09-30 0.90 -0.56 0.20
2018-06-30 0.87 -0.60 0.21
2018-03-31 0.95 -0.56 0.24
2017-12-31 0.96 -0.56 0.23
2017-09-30 1.01 -0.16 0.21
2017-06-30 1.10 -0.16 0.22
2017-03-31 1.18 -0.16 0.21
2016-12-31 1.27 -0.17 0.23
2016-09-30 1.51 -0.07 0.31
2016-06-30 1.62 0.04 0.31
2016-03-31 1.79 0.03 0.38
2015-12-31 1.89 0.13 0.37
2015-09-30 1.82 -0.30 0.35
2015-06-30 1.89 -0.13 0.38
2015-03-31 1.53 -0.36 0.33
2014-12-31 1.37 -0.38 0.39
2014-09-30 1.54 0.09 0.45
2014-06-30 1.56 -0.10 0.50
2014-03-31 1.86 0.12 0.57
2013-12-31 1.96 0.04 0.60
2013-09-30 1.84 -0.62 0.66
2013-06-30 1.89 -0.50 0.75
2013-03-31 1.97 -0.16 0.95
2012-12-31 2.04 -0.33 0.79
2012-09-30 2.03 -0.20 0.89
2012-06-30 2.22 -0.17 1.16

*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.
  • It is difficult to establish if Blue Tax Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • Blue Tax Group used its assets more efficiently than the PL Professional Services industry average last year based on Return on Assets.
  • It is difficult to establish if Blue Tax Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Blue Tax Group'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 Professional Services 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.
Blue Tax Group 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 Blue Tax Group'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 Blue Tax Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Blue Tax Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Blue Tax Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Blue Tax Group'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.
  • Blue Tax Group has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
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 Blue Tax Group Company Filings, last reported 4 months ago.

WSE:BTG Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 -0.16 0.29 0.00
2018-09-30 -0.12 0.50 0.00
2018-06-30 -0.11 0.50 0.00
2018-03-31 -0.09 0.52 0.00
2017-12-31 -0.12 0.42 0.00
2017-09-30 0.58 0.98 0.00
2017-06-30 0.70 0.86 0.00
2017-03-31 0.69 0.86 0.01
2016-12-31 0.61 0.86 0.03
2016-09-30 0.77 0.75 0.05
2016-06-30 0.84 0.77 0.10
2016-03-31 0.73 0.97 0.21
2015-12-31 0.80 1.03 0.13
2015-09-30 0.86 1.61 0.36
2015-06-30 0.80 1.64 0.34
2015-03-31 1.22 1.71 0.46
2014-12-31 0.67 1.19 0.45
2014-09-30 1.37 1.23 0.10
2014-06-30 1.32 1.13 0.35
2014-03-31 1.47 1.23 0.47
2013-12-31 1.26 0.91 0.20
2013-09-30 0.88 1.38 0.35
2013-06-30
2013-03-31
2012-12-31 0.42 0.86 0.32
2012-09-30
2012-06-30 1.06 1.53 0.51
  • Blue Tax Group has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Blue Tax Group's debt level has increased considering it has negative shareholder equity.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Blue Tax Group has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Blue Tax Group has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 49% per year.
X
Financial health checks
We assess Blue Tax Group'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. Blue Tax Group has a total score of 2/6, 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 Blue Tax Group'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
0%
Current annual income from Blue Tax Group dividends.
If you bought PLN2,000 of Blue Tax Group shares you are expected to receive PLN0 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?
  • Unable to evaluate Blue Tax Group's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Blue Tax Group's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:BTG 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 Professional Services Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 8%
Poland Market Average Dividend Yield Market Cap Weighted Average of 200 Stocks 4.2%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.4%
Poland Bottom 25% Dividend Yield 25th Percentile 2.8%
Poland Top 25% Dividend Yield 75th Percentile 7.9%

Industry and Market average data is calculated daily.

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

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

  • Unable to perform a dividend volatility check as Blue Tax Group has not reported any payouts.
  • Unable to verify if Blue Tax Group's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Blue Tax Group's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Blue Tax Group has not reported any payouts.
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 Blue Tax Group'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 Blue Tax Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Blue Tax Group has a total score of 0/6, 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 Blue Tax Group'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
Miroslaw Stanislawski
CEO Bio

Mr. Miroslaw Stanislawski serves as President of the Management Board and Member of the Supervisory Board at Blue Tax Group S.A. Mr. Stanislawski serves as President of Blue Tax Net Sp. Z o.o., Blue Tax Doradca Sp. Z o.o., Blue Tax Capital Sp. Z o.o., and Biznesplatforma.pl. Mr. Stanislawski was a co-founder of ‘’Blue Tax Group Sp.z o.o and served as its President of the Management Board. He served as Vice-President of the National Association of Tax Advisors for the Region of Dolny Slask. He served as a Member of the Supervisory Board at West Real Estate S.A. He graduated from the Politechnika Wroclawska (the Politechnics of Wroclaw), the Poznanska Szkola Bankowosci (Poznan School of Banking), and the Wroclawska Szkola Zarzadzania i Finansów (the Wroclaw School of Management and Finance).

CEO Compensation
  • Insufficient data for Miroslaw to compare compensation growth.
  • Insufficient data for Miroslaw to establish whether their remuneration is reasonable compared to companies of similar size in Poland.
Management Team

Miroslaw Stanislawski

TITLE
President of the Management Board and Member of the Supervisory Board

Malwina Stanislawska

TITLE
Vice President of the Management Board
Board of Directors

Gabriela Stanislawska

TITLE
Chairman of The Supervisory Board

Miroslaw Stanislawski

TITLE
President of the Management Board and Member of the Supervisory Board

Marek Cukrowski

TITLE
Member of the Supervisory Board

Miroslaw Krawiec

TITLE
Member of the Supervisory Board

Tomasz Mihulka

TITLE
Member of the Supervisory Board
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 Blue Tax Group'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. Blue Tax Group 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 Kind Of Shareholders Own Blue Tax Group S.A. (WSE:BTG)?

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

Simply Wall St -

What Kind Of Investor Owns Most Of Blue Tax Group SA (WSE:BTG)?

The big shareholder groups in Blue Tax Group SA (WSE:BTG) have power over the company. … Blue Tax Group is not a large company by global standards. … Check out our latest analysis for Blue Tax Group

Simply Wall St -

Who Are The Major Shareholders In Blue Tax Group SA (WSE:BTG)?

In this article, I will take a quick look at Blue Tax Group SA’s (WSE:BTG) recent ownership structure – an unconventional investing subject, but an important one. … Ownership structure of a company has been found to affect share performance over time. … It also impacts the trading environment of company shares, which is more of a concern for short-term investors.

Simply Wall St -

Who Owns Blue Tax Group SA. (WSE:BTG)?

In this analysis, my focus will be on developing a perspective on Blue Tax Group SA.’s (WSE:BTG) latest ownership structure, a less discussed, but important factor. … The impact of a company's ownership structure affects both its short- and long-term performance. … Check out our latest analysis for Blue Tax Group WSE:BTG Ownership_summary Apr 20th 18 Insider Ownership Insiders form another group of important ownership types as they manage the company's operations and decide the best use of capital.

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How Financially Strong Is Blue Tax Group SA. (WSE:BTG)?

How does BTG’s operating cash flow stack up against its debt? … On top of this, BTG is only producing cash from operations of ZŁ26.24K in the last twelve months, leading to an operating cash to total debt ratio of below 1x, indicating that the current level of operating cash is not enough to cover debt. … Looking at BTG’s most recent ZŁ425.79K liabilities, the company is not able to meet these obligations given the level of current assets of ZŁ141.30K, with a current ratio of 0.33x below the prudent level of 3x.

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Company Info

Description

Blue Tax Group S.A. provides outsourcing consulting services in the fields of law, taxation, accounting, and finance in Poland. The company was founded in 1992 and is based in Wroclaw, Poland.

Details
Name: Blue Tax Group S.A.
BTG
Exchange: WSE
Founded: 1992
PLN1,400,000
140,000,000
Website: http://www.bluetax.pl
Address: Blue Tax Group S.A.
ul.Szewska 8,
4th Floor,
Wroclaw,
50-122,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE BTG Bearer Shares Warsaw Stock Exchange PL PLN 06. Feb 2008
Number of employees
Current staff
Staff numbers
0
Blue Tax Group employees.
Industry
Research and Consulting Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 21:28
End of day share price update: 2019/05/23 00:00
Last earnings filing: 2019/02/12
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.