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UHY ECA

WSE:ECA
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ECA
WSE
PLN4M
Market Cap
  1. Home
  2. PL
  3. Commercial Services
Company description

UHY ECA S.A. provides various services in the areas of auditing, taxes, accounting, training, and stock exchange consulting in Poland. The last earnings update was 15 days ago. More info.


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ECA Share Price and Events
7 Day Returns
-5.5%
WSE:ECA
8.7%
PL Professional Services
-0.4%
PL Market
1 Year Returns
25.5%
WSE:ECA
-44.6%
PL Professional Services
-6.5%
PL Market
ECA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
UHY ECA (ECA) -5.5% -4.2% 16.9% 25.5% -54.6% -23.3%
PL Professional Services 8.7% -29% -30% -44.6% -13.9% 8.3%
PL Market -0.4% -7.2% -7.4% -6.5% 6.8% -11.8%
1 Year Return vs Industry and Market
  • ECA outperformed the Professional Services industry which returned -44.6% over the past year.
  • ECA outperformed the Market in Poland which returned -6.5% over the past year.
Price Volatility
ECA
Industry
5yr Volatility vs Market

ECA Value

 Is UHY ECA 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 UHY ECA 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 UHY ECA.

WSE:ECA 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 9.9%
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:ECA
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 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.875 (1 + (1- 19%) (13.57%))
0.981
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (0.981 * 7.14%)
9.85%

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

The calculations below outline how an intrinsic value for UHY ECA 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:ECA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 9.85%)
2019 0.67 Est @ 45.38% 0.61
2020 0.89 Est @ 32.62% 0.74
2021 1.10 Est @ 23.69% 0.83
2022 1.30 Est @ 17.44% 0.89
2023 1.47 Est @ 13.06% 0.92
2024 1.61 Est @ 10% 0.92
2025 1.74 Est @ 7.85% 0.90
2026 1.85 Est @ 6.35% 0.87
2027 1.95 Est @ 5.3% 0.84
2028 2.04 Est @ 4.57% 0.80
Present value of next 10 years cash flows PLN8.32
WSE:ECA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN2.04 × (1 + 2.85%) ÷ (9.85% – 2.85%)
PLN29.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN29.93 ÷ (1 + 9.85%)10
PLN11.70
WSE:ECA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN8.32 + PLN11.70
PLN20.02
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN20.02 / 5.19
PLN3.86
WSE:ECA Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN3.86
Current discount Discount to share price of PLN0.69
= -1 x (PLN0.69 - PLN3.86) / PLN3.86
82.1%

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

Current Discount
Amount off the current price UHY ECA is available for.
Intrinsic value
>50%
Share price is PLN0.69 vs Future cash flow value of PLN3.86
Current Discount Checks
For UHY ECA to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • UHY ECA's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • UHY ECA'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 UHY ECA's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are UHY ECA's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:ECA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PLN PLN0.10
WSE:ECA Share Price ** WSE (2019-05-24) in PLN PLN0.69
Poland Professional Services Industry PE Ratio Median Figure of 11 Publicly-Listed Professional Services Companies 8.44x
Poland Market PE Ratio Median Figure of 462 Publicly-Listed Companies 10.61x

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

** Primary Listing of UHY ECA.

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

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

= 0.69 ÷ 0.10

7.25x

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

  • UHY ECA is good value based on earnings compared to the PL Professional Services industry average.
  • UHY ECA is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does UHY ECA's expected growth come at a high price?
Raw Data
WSE:ECA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.25x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
3.1%per year
Europe Professional Services Industry PEG Ratio Median Figure of 58 Publicly-Listed Professional Services Companies 1.56x
Poland Market PEG Ratio Median Figure of 112 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 UHY ECA, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on UHY ECA's assets?
Raw Data
WSE:ECA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PLN PLN2.24
WSE:ECA Share Price * WSE (2019-05-24) in PLN PLN0.69
Poland Professional Services Industry PB Ratio Median Figure of 17 Publicly-Listed Professional Services Companies 1.78x
Poland Market PB Ratio Median Figure of 689 Publicly-Listed Companies 0.97x
WSE:ECA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.69 ÷ 2.24

0.31x

* Primary Listing of UHY ECA.

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

  • UHY ECA is good value based on assets compared to the PL Professional Services industry average.
X
Value checks
We assess UHY ECA'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. UHY ECA has a total score of 5/6, 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.

ECA Future Performance

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

  • No analysts cover UHY ECA, 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
3.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is UHY ECA expected to grow at an attractive rate?
  • UHY ECA's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • UHY ECA's earnings growth is positive but not above the Poland market average.
  • Unable to compare UHY ECA's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:ECA Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:ECA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 3.1%
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:ECA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month 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:ECA Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-03-31 13 1 0
2018-12-31 12 1 0
2018-09-30 12 1 0
2018-06-30 11 1 0
2018-03-31 10 0 0
2017-12-31 10 0 0
2017-09-30 9 0 1
2017-06-30 9 0 1
2017-03-31 9 0 1
2016-12-31 9 1 1
2016-09-30 9 0 0
2016-06-30 9 1 1

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • UHY ECA's earnings are expected to grow by 3.1% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if UHY ECA 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:ECA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from UHY ECA Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:ECA Past Financials Data
Date (Data in PLN Millions) EPS *
2019-03-31 0.10
2018-12-31 0.03
2018-09-30 0.02
2018-06-30 0.02
2018-03-31 0.02
2017-12-31 0.02
2017-09-30 0.10
2017-06-30 0.11
2017-03-31 0.12
2016-12-31 0.14
2016-09-30 0.08
2016-06-30 0.10

*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 UHY ECA will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess UHY ECA'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.
UHY ECA has a total score of 1/6, 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.

ECA Past Performance

  How has UHY ECA 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 UHY ECA'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.
  • UHY ECA has delivered over 20% year on year earnings growth in the past 5 years.
  • UHY ECA's 1-year earnings growth exceeds its 5-year average (451% vs 39.4%)
  • UHY ECA's earnings growth has exceeded the PL Professional Services industry average in the past year (451% vs -7.3%).
Earnings and Revenue History
UHY ECA'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 UHY ECA Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:ECA Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 12.78 0.49 3.35
2018-12-31 11.53 0.15 3.35
2018-09-30 11.52 0.11 3.36
2018-06-30 10.77 0.12 3.14
2018-03-31 10.26 0.09 3.60
2017-12-31 9.94 0.09 3.66
2017-09-30 9.48 0.51 3.66
2017-06-30 9.12 0.57 3.42
2017-03-31 8.98 0.63 2.72
2016-12-31 8.98 0.75 2.85
2016-09-30 8.59 0.39 2.58
2016-06-30 8.53 0.54 2.77
2016-03-31 8.57 0.24 3.22
2015-12-31 8.70 0.43 3.33
2015-09-30 8.62 0.15 3.53
2015-06-30 8.24 -0.38 3.23
2015-03-31 8.18 -0.51 3.50
2014-12-31 8.26 -0.72 3.38
2014-09-30 8.75 -0.50 3.45
2014-06-30 8.98 -0.45 3.92
2014-03-31 9.24 0.11 3.73
2013-12-31 9.06 0.16 3.93
2013-09-30 8.65 -0.44 3.91
2013-06-30 8.72 -0.78 4.17
2013-03-31 9.92 -0.71 4.61
2012-12-31 10.98 -0.35 4.67
2012-09-30 10.16 0.97 3.90
2012-06-30 9.40 1.68 3.13

*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.
  • UHY ECA has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • UHY ECA used its assets less efficiently than the PL Professional Services industry average last year based on Return on Assets.
  • UHY ECA has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess UHY ECA'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.
UHY ECA has a total score of 4/6, 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.

ECA Health

 How is UHY ECA'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 UHY ECA's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • UHY ECA is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • UHY ECA's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of UHY ECA'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 12.5x 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 UHY ECA Company Filings, last reported 1 month ago.

WSE:ECA Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 11.66 0.49 1.81
2018-12-31 11.15 0.32 1.95
2018-09-30 11.66 0.38 2.44
2018-06-30 11.72 0.37 2.81
2018-03-31 11.49 0.42 1.96
2017-12-31 11.38 0.48 1.86
2017-09-30 11.93 0.35 2.78
2017-06-30 12.09 0.38 3.22
2017-03-31 11.95 0.41 2.59
2016-12-31 11.65 0.45 2.74
2016-09-30 11.79 0.49 2.78
2016-06-30 11.77 0.19 3.25
2016-03-31 11.46 0.14 2.69
2015-12-31 11.12 0.19 2.37
2015-09-30 11.62 0.09 2.88
2015-06-30 11.45 0.09 3.12
2015-03-31 11.44 0.06 2.55
2014-12-31 10.90 0.14 2.61
2014-09-30 11.62 0.18 2.97
2014-06-30 11.99 0.19 4.21
2014-03-31 12.11 0.24 3.48
2013-12-31 11.82 0.22 3.61
2013-09-30 12.75 0.23 4.27
2013-06-30 13.07 0.25 4.23
2013-03-31 12.81 0.44 3.74
2012-12-31 12.43 0.39 3.61
2012-09-30 14.24 0.36 4.26
2012-06-30 15.35 0.19 6.54
  • UHY ECA's level of debt (4.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (2% vs 4.2% today).
  • Debt is well covered by operating cash flow (146.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.3x coverage).
X
Financial health checks
We assess UHY ECA'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. UHY ECA has a total score of 5/6, 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.

ECA Dividends

 What is UHY ECA'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
8.7%
Current annual income from UHY ECA dividends.
If you bought PLN2,000 of UHY ECA shares you are expected to receive PLN174 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?
  • UHY ECA's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.86%).
  • UHY ECA's dividend is above the markets top 25% of dividend payers in Poland (7.82%).
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:ECA 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 201 Stocks 4.2%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.4%
Poland Bottom 25% Dividend Yield 25th Percentile 2.9%
Poland Top 25% Dividend Yield 75th Percentile 7.8%

Industry and Market average data is calculated daily.

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

WSE:ECA Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2018-05-18 0.060 10.103
2017-05-26 0.060 6.921
2017-04-28 0.060 5.285
2016-05-10 0.040 2.955
2016-02-11 0.040 2.722
2015-05-08 0.040 3.108
2015-02-12 0.040 4.343
2013-11-12 0.000 0.000
2013-08-08 0.000 0.000
2013-05-23 0.000 0.000
2013-02-14 0.000 0.000
2011-05-24 0.250 8.106
2010-06-08 0.140 2.868

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

  • UHY ECA has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • UHY ECA has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of UHY ECA's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as UHY ECA 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 UHY ECA'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 UHY ECA afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. UHY ECA has a total score of 2/6, see the detailed checks below.


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

ECA Management

 What is the CEO of UHY ECA'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
Roman Seredynski
COMPENSATION PLN594,129
CEO Bio

Mr. Roman Seredynski, PH.D. serves as the President of the Management Board and Chief Executive Officer at UHY ECA S.A. (formerly known as ECA Auxilium SA). Mr. Seredynski began his professional career in an international audit company. He has a PhD in Economic Sciences. He was awarded his degree by the Department of Accounting of the University of Economics in Katowice.

CEO Compensation
  • Roman's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Roman's remuneration is higher than average for companies of similar size in Poland.
Management Team

Roman Seredynski

TITLE
President of the Management Board
COMPENSATION
PLN594K

Piotr Wozniak

TITLE
Managing Partner
COMPENSATION
PLN313K

Pawel Wójciak

TITLE
Member of Management Board
COMPENSATION
PLN283K

Michal Kolosowski

TITLE

Katarzyna Szaruga

TITLE
Partner & Director of Audit Department
Board of Directors

Agnieszka Rembiesa

TITLE
President of the Supervisory Board

Robert Samek

TITLE
Member of the Supervisory Board

Aneta Antoniewicz

TITLE
Member of Supervisory Board

Jaroslaw Lenartowski

TITLE
Member of the Supervisory Board

Dagna Szostak-Biel

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 UHY ECA'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. UHY ECA 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.

ECA News

Simply Wall St News

What You Must Know About UHY ECA SA's (WSE:ECA) Major Investors

I am going to take a deep dive into UHY ECA SA’s (WSE:ECA) most recent ownership structure, not a frequent subject of discussion among individual investors. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders.

Simply Wall St -

Does UHY ECA SA's (WSE:ECA) Past Performance Indicate A Weaker Future?

When UHY ECA SA (WSE:ECA) released its most recent earnings update (31 March 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Understanding how UHY ECA performed requires a benchmark rather than trying to assess a standalone number at one point in time. … ECA's trailing twelve-month earnings (from 31 March 2018) of zł89.54k has

Simply Wall St -

Is UHY ECA SA. (WSE:ECA) A Financially Sound Company?

Moreover, ECA has produced ZŁ171.03K in operating cash flow during the same period of time, resulting in an operating cash to total debt ratio of 35.93%, signalling that ECA’s current level of operating cash is high enough to cover debt. … ECA’s level of debt is low relative to its total equity, at 4.16%. … For ECA, the ratio of 23.27x suggests that interest is comfortably covered, which means that lenders may be less hesitant to lend out more funding as ECA’s high interest coverage is seen as responsible and safe practice.Next Steps: ECA has demonstrated its ability to generate sufficient levels of cash flow, while its debt hovers at a safe level.

Simply Wall St -

UHY ECA SA.'s (WSE:ECA) Earnings Dropped -81.70%, Did Its Industry Show Weakness Too?

Today I will assess ECA's recent performance announced on 31 December 2017 and evaluate these figures to its longer term trend and industry movements. … For UHY ECA, its most recent earnings (trailing twelve month) is ZŁ137.34K, which, relative to the prior year's figure, has declined by a non-trivial -81.70%. … Eyeballing growth from a sector-level, the PL professional services industry has been enduring some headwinds over the previous twelve months, leading to an average earnings drop of -2.54%.

Simply Wall St -

Does UHY ECA SA.'s (WSE:ECA) PE Ratio Warrant A Sell?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for ECA Price per share = PLN0.52 Earnings per share = PLN0.026 ∴ Price-Earnings Ratio = PLN0.52 ÷ PLN0.026 = 19.6x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … ECA’s P/E of 19.6x is higher than its industry peers (13.9x), which implies that each dollar of ECA’s earnings is being overvalued by investors. … For example, if you accidentally compared lower growth firms with ECA, then ECA’s P/E would naturally be higher since investors would reward ECA’s higher growth with a higher price.

Simply Wall St -

ECA Company Info

Description

UHY ECA S.A. provides various services in the areas of auditing, taxes, accounting, training, and stock exchange consulting in Poland. The company conducts audits and reviews of financial statements in accordance with Polish Accounting Standards, International Accounting Standards (IAS/IFRS), German Accounting Law (HGB), and US GAAP; restates financial statements in accordance with International Accounting Standards, HGB, and US GAAP; offers advice on designing and implementing accounting policies, as well as financial advice on preparing prospectuses; and conducts investigation audits. It also provides investment consulting, enterprises valuation and restructuring, due diligence analyses, election reports auditing, EU projects and programs auditing, and on-call accounting advisory services; and corporate audit, public sector audit, IAS/IFRS, and German desk services, as well as audits the financial information of political parties on subventions received and on expenditure incurred out of the subventions. In addition, the company offers on-going tax consulting, tax review, tax and court proceedings handling, and transfer pricing consulting services in the areas of value-added tax, income taxes, international double taxation treaties, transfer pricing, excise duty, and customs law. Further, it provides accounting, human resources, and payroll services; professional training courses and workshops on accounting and taxes to the financial and accounting departments, and management boards of enterprises; authorized advisory and stock exchange consulting services; and business consulting services. The company was founded in 1986 and is headquartered in Kraków, Poland.

Details
Name: UHY ECA S.A.
ECA
Exchange: WSE
Founded: 1986
PLN3,579,392
5,187,526
Website: http://uhy-pl.com
Address: UHY ECA S.A.
ul. Moniuszki 50,
Kraków,
31-523,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE ECA Common Bearer Shares Warsaw Stock Exchange PL PLN 09. Nov 2007
Number of employees
Current staff
Staff numbers
0
UHY ECA employees.
Industry
Research and Consulting Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 21:11
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
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.