WSE:IPL

Stock Analysis Report

Executive Summary

Impel S.A., together with its subsidiaries, provides business support services for institutions and companies in Poland.

Snowflake

Fundamentals

Undervalued with excellent balance sheet.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-4.3%

IPL

-1.0%

PL Commercial Services

1.9%

PL Market


1 Year Return

-32.0%

IPL

11.1%

PL Commercial Services

0.2%

PL Market

Return vs Industry: IPL underperformed the Polish Commercial Services industry which returned 11.1% over the past year.

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


Shareholder returns

IPLIndustryMarket
7 Day-4.3%-1.0%1.9%
30 Day-7.0%-0.01%0.5%
90 Day10.9%0.6%-5.7%
1 Year-32.0%-32.0%11.8%11.1%3.3%0.2%
3 Year-73.1%-73.1%-6.4%-10.8%12.3%4.3%
5 Year-75.0%-77.2%9.8%5.9%0.2%-12.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: IPL (PLN6.6) is trading below our estimate of fair value (PLN14.19)

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


Price To Earnings Ratio

PE vs Industry: IPL is good value based on its PE Ratio (8.3x) compared to the Commercial Services industry average (10.6x).

PE vs Market: IPL is good value based on its PE Ratio (8.3x) compared to the Polish market (10.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: IPL is good value based on its PB Ratio (0.3x) compared to the PL Commercial Services industry average (1x).


Next Steps

Future Growth

How is Impel forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

20.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IPL's forecast earnings growth (20.7% per year) is above the savings rate (2.9%).

Earnings vs Market: IPL's earnings (20.7% per year) are forecast to grow faster than the Polish market (10.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if IPL's revenue is forecast to grow faster than the Polish market.

High Growth Revenue: Insufficient data to determine if IPL's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if IPL's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Impel performed over the past 5 years?

-19.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: IPL's earnings have declined by -19.6% per year over the past 5 years.

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

Earnings vs Industry: IPL had negative earnings growth (-19.7%) over the past year, making it difficult to compare to the Commercial Services industry average (3.4%).


Return on Equity

High ROE: IPL's Return on Equity (4%) is considered low.


Return on Assets

ROA vs Industry: IPL's Return on Assets is below or equal to the Commercial Services industry average last year.


Return on Capital Employed

ROCE Improving: IPL has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Impel's financial position?


Financial Position Analysis

Short Term Liabilities: IPL's short term assets (PLN760.1M) exceeds its short term liabilities (PLN675.3M)

Long Term Liabilities: IPL's short term assets (760.1M) exceeds its long term liabilities (91.8M)


Debt to Equity History and Analysis

Debt Level: IPL's debt to equity ratio (80.2%) is considered high

Reducing Debt: IPL's debt to equity ratio has reduced from 84.6% to 80.2% over the past 5 years.

Debt Coverage: IPL's debt is well covered by operating cash flow (23.1%).

Interest Coverage: IPL's interest payments on its debt are well covered by EBIT (5x coverage).


Balance Sheet

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

Debt Coverage by Assets: IPL's debt is covered by short term assets (assets are 2.739080x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%2.7%markettop25%7.2%industryaverage7.6%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

High Dividend: Unable to evaluate IPL'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 IPL's dividends per share have been stable in the past.

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of IPL'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 Impel's salary, the management and board of directors tenure and is there insider trading?

8.3yrs

Average management tenure


CEO

Grzegorz Dzik 0

15.8yrs

Tenure

zł333,600

Compensation

Mr. Grzegorz Dzik has been the President of the Management Board and Chief Executive Officer at Impel S.A. since January 5, 2004. He is Managing Director of Development Department at Impel S.A. Mr. Dzik ha ...


CEO Compensation Analysis

Compensation vs. Market: Grzegorz's total compensation ($USD86.81K) is above average for companies of similar size in the Polish market ($USD0.00).

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


Management Age and Tenure

8.3yrs

Average Tenure

Experienced Management: IPL's management team is seasoned and experienced (8.3 years average tenure).


Board Age and Tenure

5.2yrs

Average Tenure

Experienced Board: IPL's board of directors are considered experienced (5.2 years average tenure).


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

  • Wojciech Rembikowski

    CFO, VP of Management Board and MD of Financial & Administrative Department

    • Tenure: 12.8yrs
    • Compensation: zł482.00k
  • Grzegorz Dzik

    President of Management Board

    • Tenure: 15.8yrs
    • Compensation: zł333.60k
  • Józef Biegaj

    Member of Supervisory Board & Secretary of Supervisory Board

    • Tenure: 5.2yrs
    • Compensation: zł480.50k
  • Bogdan Dzik

    FM General Director

    • Tenure: 3.8yrs
    • Compensation: zł1.18m
  • Jakub Dzik

    VP of Management Board & MD of Operational Department

    • Tenure: 0yrs
    • Compensation: zł259.90k
  • Monika Chudobska

    VP of Management Board & MD of HR Department

    • Tenure: 0yrs
    • Compensation: zł482.80k
  • Miroslaw Greber

    VP of Management Board & MD of Sales Department

    • Tenure: 0yrs
    • Compensation: zł522.10k
  • Dawid Poplawski

    Member of the Management Board

    • Tenure: 0.8yrs

Board Members

  • Piotr Urbanczyk

    Member of the Supervisory Board

    • Tenure: 11.4yrs
    • Compensation: zł49.20k
  • Andrzej Malinowski (70yo)

    Vice Chairman of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: zł60.00k
  • Józef Biegaj

    Member of Supervisory Board & Secretary of Supervisory Board

    • Tenure: 5.2yrs
    • Compensation: zł480.50k
  • Stefan Forlicz

    Member of the Supervisory Board

    • Tenure: 2.3yrs
    • Compensation: zł92.00k
  • Andrzej Kaleta

    Chairman of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: zł69.80k
  • Tadeusz Wieckowski

    Member of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: zł7.30k

Company Information

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


Key Information

  • Name: Impel S.A.
  • Ticker: IPL
  • Exchange: WSE
  • Founded: 1990
  • Industry: Diversified Support Services
  • Sector: Commercial Services
  • Market Cap: zł84.910m
  • Shares outstanding: 12.87m
  • Website: https://www.impel.pl

Number of Employees


Location

  • Impel S.A.
  • ul. Slezna 118
  • Wroclaw
  • 53-111
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IPLWSE (Warsaw Stock Exchange)YesBearer SharesPLPLNNov 2003

Biography

Impel S.A., together with its subsidiaries, provides business support services for institutions and companies in Poland. It operates through Facility Management; Digital Services & Business Process Outsour ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 20:42
End of Day Share Price2019/10/23 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.