Tax-Net
Tax-Net S.A. provides accounting, tax, and financial advisory services in Poland. The last earnings update was 93 days ago. More info.
Add to Portfolio Compare Print
- Tax-Net has significant price volatility in the past 3 months.
TXN Share Price and Events
7 Day Returns
1 Year Returns
TXN Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Tax-Net (TXN) | 17.4% | 1.9% | -15.6% | 25.6% | 31.7% | -37.2% |
| PL Professional Services | -3.7% | -33.1% | -29.3% | -47.7% | -18.2% | 5.2% |
| PL Market | -0.9% | -7.1% | -6.6% | -7.4% | 9.6% | -11.5% |
1 Year Return vs Industry and Market
- TXN outperformed the Professional Services industry which returned -47.7% over the past year.
- TXN outperformed the Market in Poland which returned -7.4% over the past year.
TXN Value
Is Tax-Net 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
Tax-Net
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Tax-Net.
| 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 | 11.7% |
| 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.
| 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))
= 0.876 (1 + (1- 19%) (68.59%)) |
1.243 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.24 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.243 * 7.14%) |
11.72% |
Discounted Cash Flow Calculation for WSE:TXN using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Tax-Net 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.
| Levered FCF (PLN, Millions) | Source |
Present Value Discounted (@ 11.72%) |
|
|---|---|---|---|
| 2019 | 0.55 | Est @ 12.95% | 0.49 |
| 2020 | 0.60 | Est @ 9.92% | 0.48 |
| 2021 | 0.65 | Est @ 7.8% | 0.47 |
| 2022 | 0.69 | Est @ 6.32% | 0.44 |
| 2023 | 0.73 | Est @ 5.28% | 0.42 |
| 2024 | 0.76 | Est @ 4.55% | 0.39 |
| 2025 | 0.79 | Est @ 4.04% | 0.36 |
| 2026 | 0.82 | Est @ 3.68% | 0.34 |
| 2027 | 0.85 | Est @ 3.43% | 0.31 |
| 2028 | 0.88 | Est @ 3.26% | 0.29 |
| Present value of next 10 years cash flows | PLN4.00 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= PLN0.88 × (1 + 2.85%) ÷ (11.72% – 2.85%) |
PLN10.16 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= PLN10.16 ÷ (1 + 11.72%)10 |
PLN3.35 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= PLN4.00 + PLN3.35 |
PLN7.35 |
| Equity Value per Share (PLN) |
= Total value / Shares Outstanding
= PLN7.35 / 2.35 |
PLN3.13 |
| Calculation | Result | |
|---|---|---|
| Value per share (PLN) | From above. | PLN3.13 |
| Current discount | Discount to share price of
PLN0.54
= -1 x (PLN0.54 - PLN3.13) / PLN3.13 |
82.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Tax-Net's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Tax-Net'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 Tax-Net's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Tax-Net's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in PLN | PLN0.07 |
| WSE:TXN Share Price ** | WSE (2019-05-17) in PLN | PLN0.54 |
| Poland Professional Services Industry PE Ratio | Median Figure of 11 Publicly-Listed Professional Services Companies | 8.21x |
| Poland Market PE Ratio | Median Figure of 463 Publicly-Listed Companies | 10.76x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Tax-Net.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = WSE:TXN Share Price ÷ EPS (both in PLN) = 0.54 ÷ 0.07 |
8.1x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Tax-Net is good value based on earnings compared to the PL Professional Services industry average.
- Tax-Net is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does
Tax-Net's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 8.1x |
| 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 | 1.62x |
| 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 Tax-Net, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Tax-Net's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in PLN | PLN1.51 |
| WSE:TXN Share Price * | WSE (2019-05-17) in PLN | PLN0.54 |
| 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 |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = WSE:TXN Share Price ÷ Book Value per Share (both in PLN) = 0.54 ÷ 1.51 |
0.36x |
* Primary Listing of Tax-Net.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Tax-Net is good value based on assets compared to the PL Professional Services industry average.
Value checks
We assess Tax-Net's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Professional Services industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Professional Services industry average (and greater than 0)? (1 check) Tax-Net 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.
TXN Future Performance
How is Tax-Net 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 Tax-Net 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!
Earnings growth vs Low Risk Savings
- Unable to compare Tax-Net's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
- Unable to compare Tax-Net's earnings growth to the Poland market average as no estimate data is available.
- Unable to compare Tax-Net's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| Poland Professional Services Industry Earnings Growth Rate | Market Cap Weighted Average | 12.9% |
| Europe Professional Services Industry Revenue Growth Rate | Market Cap Weighted Average | 5.2% |
| Poland Market Earnings Growth Rate | Market Cap Weighted Average | 10% |
| Poland Market Revenue Growth Rate | Market Cap Weighted Average | 5.5% |
*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
| 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 |
| Date (Data in PLN Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 8 | 1 | 0 |
| 2018-09-30 | 7 | 0 | 0 |
| 2018-06-30 | 7 | 0 | 0 |
| 2018-03-31 | 7 | 0 | 0 |
| 2017-12-31 | 7 | 0 | -1 |
| 2017-09-30 | 7 | 0 | 0 |
| 2017-06-30 | 7 | 0 | 0 |
| 2017-03-31 | 8 | 0 | 0 |
| 2016-12-31 | 8 | 0 | 0 |
| 2016-09-30 | 8 | 0 | 0 |
| 2016-06-30 | 9 | 1 | 0 |
| 2016-03-31 | 9 | 1 | 0 |
*GAAP earnings excluding extraordinary items.
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 Tax-Net Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in PLN Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.07 |
| 2018-09-30 | -0.13 |
| 2018-06-30 | -0.21 |
| 2018-03-31 | -0.06 |
| 2017-12-31 | -0.25 |
| 2017-09-30 | -0.06 |
| 2017-06-30 | -0.02 |
| 2017-03-31 | -0.05 |
| 2016-12-31 | -0.03 |
| 2016-09-30 | -0.14 |
| 2016-06-30 | -0.13 |
| 2016-03-31 | -0.05 |
*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 Tax-Net will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Tax-Net's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Poland market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Tax-Net 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.
TXN Past Performance
How has Tax-Net 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
Past Earnings growth analysis
- Tax-Net's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
- Tax-Net has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
- Tax-Net has become profitable in the last year making it difficult to compare the PL Professional Services industry average.
Earnings and Revenue History
All data from Tax-Net Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in PLN Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 7.69 | 0.16 | 2.19 | |
| 2018-09-30 | 7.41 | -0.31 | 2.09 | |
| 2018-06-30 | 7.08 | -0.49 | 2.13 | |
| 2018-03-31 | 6.89 | -0.16 | 2.12 | |
| 2017-12-31 | 6.85 | -0.73 | 2.22 | |
| 2017-09-30 | 7.05 | -0.17 | 2.33 | |
| 2017-06-30 | 7.39 | -0.05 | 2.45 | |
| 2017-03-31 | 7.79 | -0.14 | 2.58 | |
| 2016-12-31 | 8.04 | -0.09 | 2.59 | |
| 2016-09-30 | 8.43 | -0.47 | 2.62 | |
| 2016-06-30 | 8.78 | -0.43 | 2.67 | |
| 2016-03-31 | 9.22 | -0.15 | 2.84 | |
| 2015-12-31 | 9.65 | 0.10 | 3.01 | |
| 2015-09-30 | 9.79 | 0.40 | 3.09 | |
| 2015-06-30 | 9.93 | 0.40 | 3.21 | |
| 2015-03-31 | 9.74 | 0.41 | 3.06 | |
| 2014-12-31 | 9.59 | 0.35 | 2.88 | |
| 2014-09-30 | 9.46 | -0.07 | 2.85 | |
| 2014-06-30 | 9.32 | 0.03 | 2.65 | |
| 2014-03-31 | 9.27 | 0.16 | 2.49 | |
| 2013-12-31 | 9.11 | 0.17 | 2.52 | |
| 2013-09-30 | 9.00 | 0.62 | 2.38 | |
| 2013-06-30 | 8.85 | 0.55 | 2.31 | |
| 2013-03-31 | 8.76 | 0.36 | 2.72 | |
| 2012-12-31 | 8.48 | 0.24 | 2.10 | |
| 2012-09-30 | 8.10 | 0.16 | 2.11 | |
| 2012-06-30 | 7.47 | 0.09 | 2.12 |
*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.
- Tax-Net has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Tax-Net used its assets more efficiently than the PL Professional Services industry average last year based on Return on Assets.
- Tax-Net's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Tax-Net's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Professional Services industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Tax-Net 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.
TXN Health
How is Tax-Net'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 Tax-Net's finances.
The net worth of a company is the difference between its assets and liabilities.
- Tax-Net's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Tax-Net's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 1.4x 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.
All data from Tax-Net Company Filings, last reported 4 months ago.
| Date (Data in PLN Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 3.54 | 0.87 | 0.16 |
| 2018-09-30 | 3.53 | 0.92 | 0.04 |
| 2018-06-30 | 3.48 | 0.97 | 0.06 |
| 2018-03-31 | 3.45 | 1.02 | 0.04 |
| 2017-12-31 | 3.39 | 1.41 | 0.23 |
| 2017-09-30 | 3.79 | 1.11 | 0.20 |
| 2017-06-30 | 3.91 | 1.13 | 0.09 |
| 2017-03-31 | 4.03 | 1.17 | 0.32 |
| 2016-12-31 | 4.18 | 1.63 | 0.51 |
| 2016-09-30 | 4.32 | 1.28 | 0.40 |
| 2016-06-30 | 4.32 | 1.09 | 0.45 |
| 2016-03-31 | 4.41 | 1.14 | 0.11 |
| 2015-12-31 | 4.51 | 1.95 | 0.25 |
| 2015-09-30 | 4.54 | 1.21 | 0.27 |
| 2015-06-30 | 4.76 | 1.34 | 0.25 |
| 2015-03-31 | 4.63 | 1.39 | 0.08 |
| 2014-12-31 | 4.41 | 2.13 | 0.12 |
| 2014-09-30 | 4.38 | 1.39 | 0.08 |
| 2014-06-30 | 4.36 | 1.45 | 0.08 |
| 2014-03-31 | 4.07 | 1.77 | 0.12 |
| 2013-12-31 | 4.21 | 2.36 | 0.13 |
| 2013-09-30 | 4.65 | 2.08 | 0.16 |
| 2013-06-30 | 4.52 | 1.71 | 0.13 |
| 2013-03-31 | 4.32 | 1.76 | 0.09 |
| 2012-12-31 | 4.22 | 2.09 | 0.06 |
| 2012-09-30 | |||
| 2012-06-30 |
- Tax-Net's level of debt (24.5%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (55.8% vs 24.5% today).
- Debt is well covered by operating cash flow (63.9%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 5.4x coverage).
Financial health checks
We assess Tax-Net's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Tax-Net has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
TXN Dividends
What is Tax-Net'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
If you bought
PLN2,000 of
Tax-Net
shares you are expected to receive
PLN0
in your first year as a dividend.
Dividend Amount
- Unable to evaluate Tax-Net's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
- Unable to evaluate Tax-Net'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.
| 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 | 8.9% |
| Poland Market Average Dividend Yield | Market Cap Weighted Average of 201 Stocks | 4.1% |
| Poland Minimum Threshold Dividend Yield | 10th Percentile | 1.5% |
| 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.
| Date (Data in PLN) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2014-08-18 | 0.050 | 8.402 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to perform a dividend volatility check as Tax-Net has not reported any payouts.
- Unable to verify if Tax-Net's dividend has been increasing as the company has not reported any payouts.
Income/ dividend checks
We assess Tax-Net's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Tax-Net afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Tax-Net 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.
TXN Management
- Tax-Net has no CEO, or we have no data on them.
Management Team
Pawel Glosny
President of the Management Board
3.9 yrs
Agnieszka Kocan
Vice-President of the Management Board
3.9 yrs
Board of Directors
Halina Glosna
Chairman of the Supervisory Board
Mariusz Malesza
Member of the Supervisory Board
3.9 yrs
Joanna Nowak
Member of the Supervisory Board
Grazyna Nelip
Member of the Supervisory Board
Justyna Nelip
Member of the Supervisory Board
3.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (PLN) | Value (PLN) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Tax-Net's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Tax-Net 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.
TXN News
Simply Wall St News
Why Tax-Net S.A.’s (WSE:TXN) Return On Capital Employed Is Impressive
Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.
Simply Wall St - – Full articleUpdate: Tax-Net (WSE:TXN) Stock Gained 66% In The Last Year
Many high growth companies focus on growing revenue before profits, but if revenue is the focus, it really needs to grow. … That's because it's hard for shareholders to have confidence a company will grow profits significantly if it isn't growing revenue. … In keeping with the revenue growth, the share price gained 66% in that time.
Simply Wall St - – Full articleWhat Kind Of Shareholder Appears On The Tax-Net S.A.'s (WSE:TXN) Shareholder Register?
A look at the shareholders of Tax-Net S.A. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Tax-Net is not a large company by global standards.
Simply Wall St - – Full articleHow Does Investing In Tax-Net S.A. (WSE:TXN) Impact The Volatility Of Your Portfolio?
Volatility is considered to be a measure of risk in modern finance theory. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.
Simply Wall St - – Full articleIs Tax-Net S.A. (WSE:TXN) Struggling With Its 3.1% Return On Capital Employed?
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.
Simply Wall St - – Full articleCan We See Significant Insider Ownership On The Tax-Net SA (WSE:TXN) Share Register?
Generally speaking, as a company grows, institutions will increase their ownership. … So it's nice to see some insider ownership, because it may suggest that management is owner-oriented. … Tax-Net is a smaller company with a market capitalization of zł1.4m, so it may still be flying under the radar of many institutional investors.
Simply Wall St - – Full articleHow Financially Strong Is Tax-Net SA (WSE:TXN)?
Tax-Net SA (WSE:TXN) is a small-cap stock with a market capitalization of zł2m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health.
Simply Wall St - – Full articleWho Are The Major Shareholders Of Tax-Net SA (WSE:TXN)?
In this analysis, my focus will be on developing a perspective on Tax-Net SA’s (WSE:TXN) latest ownership structure, a less discussed, but important factor. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … Differences in ownership structure of companies can have a profound effect on how management's incentives are aligned with shareholder returns, and whether they adhere to corporate governance best practices.
Simply Wall St - – Full articleWant To Invest In Tax-Net SA (WSE:TXN)? Here's How It Performed Lately
Today I will take a look at Tax-Net SA's (WSE:TXN) most recent earnings update (31 March 2018) and compare these latest figures against its performance over the past few years, as well as how the rest of the professional services industry performed. … Commentary On TXN's Past Performance … TXN is loss-making, with the most recent trailing twelve-month earnings of -zł163.23k (from 31 March 2018), which compared to last year has become
Simply Wall St - – Full articleTax-Net SA. (WSE:TXN): How Does It Impact Your Portfolio?
TXN, with its market capitalisation of ZŁ1.07M, is a small-cap stock, which generally have higher beta than similar companies of larger size. … As a result, the company may be less volatile relative to broad market movements, compared to a company of similar size but higher proportion of fixed assets. … However, this is the opposite to what TXN’s actual beta value suggests, which is higher stock volatility relative to the market.
Simply Wall St - – Full articleTXN Company Info
Description
Tax-Net S.A. provides accounting, tax, and financial advisory services in Poland. It offers tax consultancy, tax audit, tax optimization, assistance in registration and transformation of companies, representation before institutions, financial consulting, assistance in ensure liquidity, cost optimization, factoring, leasing, virtual office, and personnel and payroll consulting services. The company is based in Katowice, Poland.
Details
| Name: | Tax-Net S.A. |
| TXN | |
| Exchange: | WSE |
| Founded: | |
| PLN1,266,443 | |
| 2,345,265 | |
| Website: | http://www.tax-net.pl |
| Address: |
Tax-Net S.A. ul. Marcina 11, Katowice, 40-854, Poland |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| WSE | TXN | Common Bearer Shares | Warsaw Stock Exchange | PL | PLN | 07. Jul 2011 |
Number of employees
Current staff
Industry
| Research and Consulting Services | |
| Commercial Services |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/19 22:07 |
| End of day share price update: | 2019/05/17 00:00 |
| Last earnings filing: | 2019/02/15 |
| 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.
Related Companies
- root9B Holdings (OTCPK:RTNB)
- Berkley Renewables (CNSX:BKS)
- Public Company Management (OTCPK:PCMC)
- GEX Management (OTCPK:GXXM)
- Encompass Compliance (OTCPK:ENCC)
- Blue Diamond Ventures (OTCPK:BLDV)
- Suncast Solar Energy (OTCPK:SUNC)
- Day Tradexchange (OTCPK:SYNJ)
- BGI (OTCPK:BGII)
- Health Revenue Assurance Holdings (OTCPK:HRAA)