WSE:TXN

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Flawless balance sheet and undervalued.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: TXN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

23.2%

TXN

-7.0%

PL Professional Services

-3.1%

PL Market


1 Year Return

136.9%

TXN

8.9%

PL Professional Services

-15.7%

PL Market

Return vs Industry: TXN exceeded the Polish Professional Services industry which returned 8.9% over the past year.

Return vs Market: TXN exceeded the Polish Market which returned -15.7% over the past year.


Shareholder returns

TXNIndustryMarket
7 Day23.2%-7.0%-3.1%
30 Day41.3%-13.0%-7.9%
90 Day126.5%-2.8%-3.4%
1 Year136.9%136.9%9.1%8.9%-15.0%-15.7%
3 Year285.0%285.0%-26.1%-26.3%-25.9%-30.2%
5 Year258.1%258.1%0.2%-2.4%-10.6%-20.3%

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 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: TXN (PLN1.54) is trading below our estimate of fair value (PLN35.59)

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


Price To Earnings Ratio

PE vs Industry: TXN is good value based on its PE Ratio (11.6x) compared to the PL Professional Services industry average (15.8x).

PE vs Market: TXN is good value based on its PE Ratio (11.6x) compared to the Polish market (12.2x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: TXN is good value based on its PB Ratio (0.9x) compared to the PL Professional Services industry average (1.7x).


Next Steps

Future Growth

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

18.6%

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?

2.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TXN has a large one-off loss of PLN109.7K impacting its June 30 2020 financial results.

Growing Profit Margin: TXN's current net profit margins (3.4%) are higher than last year (1.5%).


Past Earnings Growth Analysis

Earnings Trend: TXN has become profitable over the past 5 years, growing earnings by 2.8% per year.

Accelerating Growth: TXN's earnings growth over the past year (147.3%) exceeds its 5-year average (2.8% per year).

Earnings vs Industry: TXN earnings growth over the past year (147.3%) exceeded the Professional Services industry -8.1%.


Return on Equity

High ROE: TXN's Return on Equity (7.6%) is considered low.


Next Steps

Financial Health

How is Tax-Net's financial position?


Financial Position Analysis

Short Term Liabilities: TXN's short term assets (PLN2.4M) exceed its short term liabilities (PLN2.4M).

Long Term Liabilities: TXN's short term assets (PLN2.4M) exceed its long term liabilities (PLN1.0M).


Debt to Equity History and Analysis

Debt Level: TXN's debt to equity ratio (14.1%) is considered satisfactory.

Reducing Debt: TXN's debt to equity ratio has reduced from 28.2% to 14.1% over the past 5 years.

Debt Coverage: TXN's debt is well covered by operating cash flow (270.5%).

Interest Coverage: TXN's interest payments on its debt are well covered by EBIT (9.5x coverage).


Balance Sheet


Next Steps

Dividend

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


Dividend Yield vs Market

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

High Dividend: Unable to evaluate TXN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TXN's dividends per share have been stable in the past.

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TXN's dividend in 3 years as they are not forecast to pay a notable one for the Polish market.


Next Steps

Management

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


CEO

Pawel Glosny

no data

Tenure

Mr. Pawel Glosny has been Chairman of the Management Board at Tax-Net S.A. since June 18, 2015 and serves as its Chief Executive Officer.


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

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: zł3.612m
  • Shares outstanding: 2.35m
  • Website: https://www.tax-net.pl

Number of Employees


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 Analysis2020/09/28 04:17
End of Day Share Price2020/09/25 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.