WSE:TXN

Stock Analysis Report

Executive Summary

Tax-Net S.A. provides accounting, tax, and financial advisory services in Poland.

Snowflake

Fundamentals

Undervalued with excellent balance sheet.

Risks

  • Tax-Net is not covered by any analysts.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

12.5%

TXN

4.0%

PL Professional Services

-1.0%

PL Market


1 Year Return

26.0%

TXN

-12.4%

PL Professional Services

-4.3%

PL Market

TXN outperformed the Professional Services industry which returned -12.4% over the past year.

TXN outperformed the Market in Poland which returned -4.3% over the past year.


Share holder returns

TXNIndustryMarket
7 Day12.5%4.0%-1.0%
30 Day12.5%11.3%2.4%
90 Dayn/a18.2%-6.2%
1 Year26.0%26.0%-12.4%-12.4%-1.5%-4.3%
3 Year53.7%53.7%-12.2%-12.5%11.4%3.2%
5 Year-18.2%-18.2%14.7%12.6%-2.9%-14.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Tax-Net undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

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 Based on Earnings

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

Unable to calculate PEG ratio for Tax-Net, we can't assess if its growth is good value.


Price Based on Value of Assets

Tax-Net is good value based on assets compared to the PL Professional Services industry average.


Next Steps

Future Growth

How is Tax-Net expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

13.6%

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 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 SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Tax-Net performed over the past 5 years?

-28.9%

Historical annual earnings growth


Earnings and Revenue History


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.


Return on Equity

Tax-Net has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Tax-Net used its assets less efficiently than the PL Professional Services industry average last year based on Return on Assets.


Return on Capital Employed

Tax-Net has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Tax-Net's financial position?


Financial Position Analysis

Tax-Net is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Tax-Net's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Tax-Net's level of debt (21.5%) 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 (32.6% vs 21.5% today).

Debt is well covered by operating cash flow (48.5%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 6.1x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 1.6x debt.


Next Steps

Dividend

What is Tax-Net's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

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.

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.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Tax-Net 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.


Next Steps

Management

What is the CEO of Tax-Net's salary, the management and board of directors tenure and is there insider trading?


CEO

Tax-Net has no CEO, or we have no data on them.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Pawel Glosny

    President of the Management Board

    • Tenure: 4.3yrs
  • Agnieszka Kocan

    Vice-President of the Management Board

    • Tenure: 4.3yrs

Board Members

  • Grazyna Nelip

    Member of the Supervisory Board

    • Tenure: 0yrs
  • Mariusz Malesza

    Member of the Supervisory Board

    • Tenure: 4.3yrs
  • Halina Glosna

    Chairman of the Supervisory Board

    • Tenure: 0yrs
  • Joanna Nowak

    Member of the Supervisory Board

    • Tenure: 0yrs
  • Justyna Nelip

    Member of the Supervisory Board

    • Tenure: 4.1yrs

Company Information

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


Key Information

  • Name: Tax-Net S.A.
  • Ticker: TXN
  • Exchange: WSE
  • Founded:
  • Industry: Research and Consulting Services
  • Sector: Commercial Services
  • Market Cap: zł1.478m
  • Shares outstanding: 2.35m
  • Website: https://www.tax-net.pl

Location

  • Tax-Net S.A.
  • ul. Marcina 11
  • Katowice
  • 40-854
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TXNWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNJul 2011

Biography

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, represe ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/22 21:12
End of Day Share Price2019/09/20 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.