WSE:WSE

Stock Analysis Report

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Executive Summary

Work Service S.A. provides employment services in Central and Eastern Europe. More Details


Snowflake Analysis

Mediocre balance sheet and slightly overvalued.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-6.1%

WSE

-3.8%

PL Professional Services

-0.9%

PL Market


1 Year Return

-14.7%

WSE

-19.0%

PL Professional Services

-19.6%

PL Market

Return vs Industry: WSE underperformed the Polish Professional Services industry which returned -12.6% over the past year.

Return vs Market: WSE exceeded the Polish Market which returned -17.2% over the past year.


Shareholder returns

WSEIndustryMarket
7 Day-6.1%-3.8%-0.9%
30 Day-14.0%-19.1%-4.0%
90 Day-57.0%-31.2%-12.8%
1 Year-14.7%-14.7%-18.9%-19.0%-18.9%-19.6%
3 Year-82.8%-82.8%-43.6%-43.7%-29.2%-33.4%
5 Year-94.8%-94.8%-21.1%-22.8%-16.9%-26.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Work Service 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: WSE (PLN0.83) is trading below our estimate of fair value (PLN11.72)

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


Price To Earnings Ratio

PE vs Industry: WSE is unprofitable, so we can't compare its PE Ratio to the PL Professional Services industry average.

PE vs Market: WSE is unprofitable, so we can't compare its PE Ratio to the Polish market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: WSE has negative assets, so we can't compare its PB Ratio to the PL Professional Services industry average.


Next Steps

Future Growth

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

19.8%

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 Work Service 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 Work Service performed over the past 5 years?

-28.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: WSE is currently unprofitable.

Growing Profit Margin: WSE is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: WSE is unprofitable, and losses have increased over the past 5 years at a rate of 28.9% per year.

Accelerating Growth: Unable to compare WSE's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: WSE is unprofitable, making it difficult to compare its past year earnings growth to the Professional Services industry (-8.1%).


Return on Equity

High ROE: WSE has a negative Return on Equity (-468.92%), as it is currently unprofitable.


Next Steps

Financial Health

How is Work Service's financial position?


Financial Position Analysis

Short Term Liabilities: WSE's short term assets (PLN282.6M) do not cover its short term liabilities (PLN567.0M).

Long Term Liabilities: WSE's short term assets (PLN282.6M) exceed its long term liabilities (PLN21.7M).


Debt to Equity History and Analysis

Debt Level: WSE's debt to equity ratio (773.4%) is considered high.

Reducing Debt: WSE's debt to equity ratio has increased from 77.4% to 773.4% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable WSE has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: WSE is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 17.7% per year.


Next Steps

Dividend

What is Work Service current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

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

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


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of WSE'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?

7.5yrs

Average management tenure


CEO

Thibault Lefebvre

0.17

Tenure

Thibault Lefebvre has been Chief Executive Officer at Work Service S.A. since August 2020.


Leadership Team

NamePositionTenureCompensationOwnership
Tomasz Hanczarek
Co-Founder & VP of the Supervisory Board4.75yrsno data4.96%
PLN 2.7m
Iwona Szmitkowska
President of the Management Board & Deputy CEO1.67yrsno data0.014%
PLN 7.8k
Paul Christodoulou
Vice President of the Management Boardno datano datano data
Thibault Lefebvre
Chief Executive Officer0.17yrno datano data
Jaroslaw Dymitruk
Vice President of the Management Board13.42yrsno data0.022%
PLN 12.0k
Krzysztof Inglot
Head of Market Development Departmentno datano datano data

7.5yrs

Average Tenure

Experienced Management: WSE's management team is seasoned and experienced (7.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Tomasz Hanczarek
Co-Founder & VP of the Supervisory Board4.75yrsno data4.96%
PLN 2.7m
Pierre Francois Mellinger
Member of Supervisory Board7.58yrsno datano data
Panagiotis Sofianos
Chairman of Supervisory Boardno datano datano data
Krzysztof Kaczmarczyk
Member of the Supervisory Board4.42yrsno datano data
Piotr Kaminski
Member of Supervisory Board7.33yrsno datano data
Tomasz Misiak
President of the Supervisory Boardno datano data4.81%
PLN 2.6m
Everett Kamin
Member of Supervisory Boardno datano datano data
John Leone
Member of the Supervisory Board3.83yrsno datano data
Robert Lugowski
Member of the Supervisory Board4.42yrsno datano data

4.6yrs

Average Tenure

47yo

Average Age

Experienced Board: WSE's board of directors are considered experienced (4.6 years average tenure).


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

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


Key Information

  • Name: Work Service S.A.
  • Ticker: WSE
  • Exchange: WSE
  • Founded: 1999
  • Industry: Human Resource and Employment Services
  • Sector: Commercial Services
  • Market Cap: zł54.178m
  • Shares outstanding: 65.59m
  • Website: https://www.workservice.pl

Number of Employees


Location

  • Work Service S.A.
  • Sky Tower
  • ul. Gwiazdzista 66
  • Wroclaw
  • 53-413
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
WSEWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNMay 2012
WSELSE (London Stock Exchange)YesCommon Bearer SharesGBGBPMay 2012

Biography

Work Service S.A. provides employment services in Central and Eastern Europe. It offers services, including temporary employment, HR consulting, recruitment, competency assessment, outplacement, personnel ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/26 21:36
End of Day Share Price2020/10/26 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.