WSE:ETX

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Euro-Tax.pl S.A., together with its subsidiaries, provides tax refund services in Poland. More Details


Snowflake Analysis

Excellent balance sheet and fair value.

Share Price & News

How has Euro-Tax.pl's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ETX has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.2%

ETX

0.09%

PL Professional Services

-4.0%

PL Market


1 Year Return

-12.0%

ETX

11.9%

PL Professional Services

-15.5%

PL Market

Return vs Industry: ETX underperformed the Polish Professional Services industry which returned 11.9% over the past year.

Return vs Market: ETX exceeded the Polish Market which returned -15.5% over the past year.


Shareholder returns

ETXIndustryMarket
7 Day-1.2%0.09%-4.0%
30 Day8.4%-10.3%-8.0%
90 Day-12.0%13.3%-4.7%
1 Year-4.5%-12.0%12.0%11.9%-14.8%-15.5%
3 Year9.0%-20.9%-24.8%-25.0%-25.5%-30.0%
5 Year146.4%40.0%5.8%2.7%-10.7%-20.4%

Price Volatility Vs. Market

How volatile is Euro-Tax.pl's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Euro-Tax.pl undervalued compared to its fair value and its price relative to the market?

44.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ETX (PLN3.36) is trading below our estimate of fair value (PLN6.1)

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


Price To Earnings Ratio

PE vs Industry: ETX is good value based on its PE Ratio (16.6x) compared to the PL Professional Services industry average (16.8x).

PE vs Market: ETX is poor value based on its PE Ratio (16.6x) compared to the Polish market (12.6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: ETX is overvalued based on its PB Ratio (12.8x) compared to the PL Professional Services industry average (1.8x).


Next Steps

Future Growth

How is Euro-Tax.pl forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

18.3%

Forecasted Commercial Services 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 Euro-Tax.pl 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.


Next Steps

Past Performance

How has Euro-Tax.pl performed over the past 5 years?

-18.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ETX has high quality earnings.

Growing Profit Margin: ETX's current net profit margins (5.3%) are lower than last year (9.9%).


Past Earnings Growth Analysis

Earnings Trend: ETX's earnings have declined by 18.8% per year over the past 5 years.

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

Earnings vs Industry: ETX had negative earnings growth (-43.5%) over the past year, making it difficult to compare to the Professional Services industry average (-8.1%).


Return on Equity

High ROE: ETX's Return on Equity (80.1%) is considered outstanding.


Next Steps

Financial Health

How is Euro-Tax.pl's financial position?


Financial Position Analysis

Short Term Liabilities: ETX's short term assets (PLN11.1M) do not cover its short term liabilities (PLN11.6M).

Long Term Liabilities: ETX's short term assets (PLN11.1M) exceed its long term liabilities (PLN174.0K).


Debt to Equity History and Analysis

Debt Level: ETX's debt to equity ratio (25.1%) is considered satisfactory.

Reducing Debt: ETX had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: ETX's debt is well covered by operating cash flow (797.1%).

Interest Coverage: ETX's interest payments on its debt are well covered by EBIT (28.8x coverage).


Balance Sheet


Next Steps

Dividend

What is Euro-Tax.pl current dividend yield, its reliability and sustainability?

9.82%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ETX's dividend (9.82%) is higher than the bottom 25% of dividend payers in the Polish market (1.79%).

High Dividend: ETX's dividend (9.82%) is in the top 25% of dividend payers in the Polish market (6.15%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (163.4%), ETX's dividend payments are not 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

Management

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


CEO

Adam Powiertowski

no data

Tenure

Adam Karol Powiertowski serves as a President of Management Board at EURO-Tax.PL S.A.


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

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


Top Shareholders

Company Information

Euro-Tax.pl S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Euro-Tax.pl S.A.
  • Ticker: ETX
  • Exchange: WSE
  • Founded: 2008
  • Industry: Research and Consulting Services
  • Sector: Commercial Services
  • Market Cap: zł16.800m
  • Shares outstanding: 5.00m
  • Website: https://www.euro-tax-sa.pl

Number of Employees


Location

  • Euro-Tax.pl S.A.
  • ul. Szelagowska 25 / 2-3
  • Poznan
  • 61-626
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ETXWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNJan 2010

Biography

Euro-Tax.pl S.A., together with its subsidiaries, provides tax refund services in Poland. The company is involved in the recovery and settlement of tax overpaid by the clients working in the United Kingdom ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/23 03:21
End of Day Share Price2020/09/22 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.