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Bytom

WSE:BTM
Snowflake Description

Flawless balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BTM
WSE
PLN203M
Market Cap
  1. Home
  2. PL
  3. Consumer Durables
Company description

Bytom S.A. produces and sells fabrics and accessories for men in Poland. The last earnings update was 4 days ago. More info.


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BTM Share Price and Events
7 Day Returns
1.5%
WSE:BTM
2.8%
PL Luxury
2%
PL Market
1 Year Returns
7.8%
WSE:BTM
-11.6%
PL Luxury
-8.8%
PL Market
BTM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bytom (BTM) 1.5% 3.8% -3.8% 7.8% -13.5% 109.9%
PL Luxury 2.8% 7.6% -10.8% -11.6% 22.6% 9.4%
PL Market 2% 4.7% -3.4% -8.8% 11.9% -8.7%
1 Year Return vs Industry and Market
  • BTM outperformed the Luxury industry which returned -11.6% over the past year.
  • BTM outperformed the Market in Poland which returned -8.8% over the past year.
Price Volatility
BTM
Industry
5yr Volatility vs Market

Value

 Is Bytom 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 Bytom 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Bytom.

WSE:BTM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.7%
Perpetual Growth Rate 10-Year PL Government Bond Rate 3.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WSE:BTM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 3.3%
Equity Risk Premium S&P Global 6.7%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.51
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.506 (1 + (1- 19%) (0%))
0.506
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 3.33% + (0.8 * 6.67%)
8.67%

Discounted Cash Flow Calculation for WSE:BTM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Bytom is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

WSE:BTM DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (PLN, Millions) 20.62 24.39 28.78 33.68 39.06
Source Est @ 18.27% Est @ 18.27% Est @ 18%, capped from 18.27% Est @ 17%, capped from 18.27% Est @ 16%, capped from 18.27%
Present Value
Discounted (@ 8.67%)
18.98 20.66 22.43 24.15 25.78
Present value of next 5 years cash flows PLN112.00
WSE:BTM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= PLN39.06 × (1 + 3.33%) ÷ (8.67% – 3.33%)
PLN756.10
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= PLN756.10 ÷ (1 + 8.67%)5
PLN499.02
WSE:BTM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= PLN112.00 + PLN499.02
PLN611.03
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN611.03 / 73.97
PLN8.26
WSE:BTM Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN8.26
Current discount Discount to share price of PLN2.75
= -1 x (PLN2.75 - PLN8.26) / PLN8.26
66.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Bytom is available for.
Intrinsic value
>50%
Share price is PLN2.75 vs Future cash flow value of PLN8.26
Current Discount Checks
For Bytom to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bytom's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Bytom'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 Bytom's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bytom's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:BTM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in PLN PLN0.16
WSE:BTM Share Price ** WSE (2018-11-28) in PLN PLN2.75
Poland Luxury Industry PE Ratio Median Figure of 11 Publicly-Listed Luxury Companies 13.06x
Poland Market PE Ratio Median Figure of 442 Publicly-Listed Companies 10.38x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Bytom.

WSE:BTM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= WSE:BTM Share Price ÷ EPS (both in PLN)

= 2.75 ÷ 0.16

17.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bytom is overvalued based on earnings compared to the PL Luxury industry average.
  • Bytom is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does Bytom's expected growth come at a high price?
Raw Data
WSE:BTM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.74x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
14.1%per year
Poland Luxury Industry PEG Ratio Median Figure of 6 Publicly-Listed Luxury Companies 1.94x
Poland Market PEG Ratio Median Figure of 102 Publicly-Listed Companies 1.03x

*Line of best fit is calculated by linear regression .

WSE:BTM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 17.74x ÷ 14.1%

1.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bytom is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Bytom's assets?
Raw Data
WSE:BTM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in PLN PLN0.96
WSE:BTM Share Price * WSE (2018-11-28) in PLN PLN2.75
Poland Luxury Industry PB Ratio Median Figure of 14 Publicly-Listed Luxury Companies 1.08x
Poland Market PB Ratio Median Figure of 672 Publicly-Listed Companies 0.97x
WSE:BTM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WSE:BTM Share Price ÷ Book Value per Share (both in PLN)

= 2.75 ÷ 0.96

2.86x

* Primary Listing of Bytom.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bytom is overvalued based on assets compared to the PL Luxury industry average.
X
Value checks
We assess Bytom's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check)
  5. Bytom has a total score of 2/6, 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.

Future Performance

 How is Bytom expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

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!
Annual Growth Rate
14.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bytom expected to grow at an attractive rate?
  • Bytom's earnings growth is expected to exceed the low risk savings rate of 3.3%.
Growth vs Market Checks
  • Bytom's earnings growth is expected to exceed the Poland market average.
  • Bytom's revenue growth is expected to exceed the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:BTM Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:BTM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 14.1%
WSE:BTM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 8.9%
Poland Luxury Industry Earnings Growth Rate Market Cap Weighted Average 20.4%
Poland Luxury Industry Revenue Growth Rate Market Cap Weighted Average 13.2%
Poland Market Earnings Growth Rate Market Cap Weighted Average 8.8%
Poland Market Revenue Growth Rate Market Cap Weighted Average 6.2%

*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
Raw Data
WSE:BTM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:BTM Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 244 16 17 2
2019-12-31 230 16 15 2
2018-12-31 205 11 14 1
WSE:BTM Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-09-30 201 35 11
2018-06-30 197 32 11
2018-03-31 191 40 11
2017-12-31 186 40 11
2017-09-30 176 40 9
2017-06-30 170 42 12
2017-03-31 157 34 11
2016-12-31 153 35 12
2016-09-30 146 27 13
2016-06-30 142 27 12
2016-03-31 135 21 12
2015-12-31 131 16 13

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bytom's earnings are expected to grow by 14.1% yearly, however this is not considered high growth (20% yearly).
  • Bytom's revenue is expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WSE:BTM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Bytom Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:BTM Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.20 0.20 0.20 1.00
2019-12-31 0.20 0.20 0.20 1.00
2018-12-31 0.20 0.20 0.20 1.00
WSE:BTM Past Financials Data
Date (Data in PLN Millions) EPS *
2018-09-30
2018-06-30 0.16
2018-03-31 0.16
2017-12-31 0.16
2017-09-30 0.13
2017-06-30 0.17
2017-03-31 0.15
2016-12-31 0.17
2016-09-30 0.18
2016-06-30 0.16
2016-03-31 0.18
2015-12-31 0.18

*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.
  • Bytom is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Bytom's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Poland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Poland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Bytom has a total score of 3/6, 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.

Past Performance

  How has Bytom 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
Below we compare Bytom's growth in the last year to its industry (Luxury).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Bytom has delivered over 20% year on year earnings growth in the past 5 years.
  • Bytom's 1-year earnings growth is less than its 5-year average (13.6% vs 25.8%)
  • Bytom's earnings growth has not exceeded the PL Luxury industry average in the past year (13.6% vs 16.1%).
Earnings and Revenue History
Bytom's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Bytom Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:BTM Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 201.03 10.79 86.10
2018-06-30 196.93 11.15 82.49
2018-03-31 191.36 11.38 79.27
2017-12-31 185.64 11.11 76.41
2017-09-30 176.02 9.50 73.58
2017-06-30 169.60 11.86 70.97
2017-03-31 157.39 10.59 67.87
2016-12-31 152.93 12.44 64.68
2016-09-30 145.63 12.99 61.83
2016-06-30 142.05 11.53 59.50
2016-03-31 135.34 12.49 56.71
2015-12-31 130.82 12.50 54.20
2015-09-30 123.08 11.41 51.82
2015-06-30 117.49 10.01 49.65
2015-03-31 109.02 6.77 47.85
2014-12-31 103.86 5.33 46.29
2014-09-30 97.32 4.30 43.30
2014-06-30 92.64 3.11 42.94
2014-03-31 90.10 1.78 42.88
2013-12-31 85.26 1.00 41.43
2013-09-30 80.42 -1.38 41.83
2013-06-30 75.72 -2.76 40.44
2013-03-31 72.17 -5.03 39.05
2012-12-31 71.89 -5.37 39.06
2012-09-30 68.51 -9.66 41.28
2012-06-30 64.81 -8.10 39.26
2012-03-31 61.55 -6.72 36.37
2011-12-31 58.18 -5.54 32.86

*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.
  • Bytom has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Bytom used its assets more efficiently than the PL Luxury industry average last year based on Return on Assets.
  • Bytom's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Bytom's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Bytom has a total score of 2/6, 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.

Health

 How is Bytom'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 Bytom's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bytom is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Bytom's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bytom's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Bytom has no debt, it does not need to be covered by short term assets.
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.
Raw Data

All data from Bytom Company Filings, last reported 2 months ago.

WSE:BTM Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 72.82 0.00 3.34
2018-06-30 69.32 28.84 2.94
2018-03-31 63.94 29.26 2.26
2017-12-31 65.02 13.97 4.78
2017-09-30 59.72 21.94 2.35
2017-06-30 57.23 14.47 3.98
2017-03-31 51.63 24.99 1.37
2016-12-31 52.98 17.01 2.76
2016-09-30 49.09 24.72 1.16
2016-06-30 44.50 20.35 0.85
2016-03-31 40.16 20.99 0.82
2015-12-31 39.67 13.23 1.27
2015-09-30 35.15 18.59 0.55
2015-06-30 32.30 15.30 0.50
2015-03-31 26.93 13.86 0.63
2014-12-31 26.42 4.85 1.47
2014-09-30 23.42 4.09 0.77
2014-06-30 21.97 3.64 0.98
2014-03-31 19.91 5.65 0.52
2013-12-31 20.84 0.68 2.32
2013-09-30 19.28 0.50 0.84
2013-06-30 19.02 0.53 1.04
2013-03-31 18.74 0.60 0.76
2012-12-31 20.83 6.50 0.90
2012-09-30 21.21 0.73 0.87
2012-06-30 22.49 0.81 0.86
2012-03-31 24.48 0.57 0.93
2011-12-31 25.92 7.15 1.33
  • Bytom has no debt.
  • Bytom has no debt compared to 5 years ago when it was 2.6%.
  • Bytom has no debt, it does not need to be covered by operating cash flow.
  • Bytom has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Bytom's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Bytom has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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.

Dividends

 What is Bytom'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
Dividend payments
0%
Current annual income from Bytom dividends.
If you bought PLN2,000 of Bytom shares you are expected to receive PLN0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Bytom's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Bytom'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.
Raw Data
WSE:BTM Annualized Past and Future Dividends
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 2 Analyst Estimates (S&P Global) See Below
Poland Luxury Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 0.8%
Poland Market Average Dividend Yield Market Cap Weighted Average of 209 Stocks 3.4%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.3%
Poland Bottom 25% Dividend Yield 25th Percentile 2.8%
Poland Top 25% Dividend Yield 75th Percentile 7.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WSE:BTM Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31
2018-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Bytom has not reported any payouts.
  • Unable to verify if Bytom's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Bytom's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Bytom 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.
X
Income/ dividend checks
We assess Bytom's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Bytom afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bytom 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.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michal Wojcik
COMPENSATION PLN0
CEO Bio

Mr. Michal Wojcik served as the President of the Management Board at Bytom Spolka Akcyjna. Mr. Wojcik serves as a Vice Chairman of Vistula textile company.

CEO Compensation
  • Michal's compensation has been consistent with company performance over the past year.
  • Michal's remuneration is lower than average for companies of similar size in Poland.
Management Team

Michal Wojcik

TITLE
President of The Management Board

Ilona Hencel

TITLE
Vice-President of the Management Board
Board of Directors

Jan Pilch

TITLE
Chairman of the Supervisory Board
TENURE
8 yrs

Karolina Wozniak-Malkus

TITLE
Deputy Chairman of the Supervisory Board

Krzysztof Bajolek

TITLE
Member of the Supervisory Board
AGE
52

Renata Pilch

TITLE
Member of the Supervisory Board

Krystian Essel

TITLE
Member of the Supervisory Board

Michal Drozdowsk

TITLE
Member of the Supervisory Board
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (PLN) Value (PLN)
X
Management checks
We assess Bytom's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Bytom 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.

News

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Simply Wall St News

How Good Is Bytom SA (WSE:BTM), When It Comes To ROE?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Another way to think of that is that for every PLN1 worth of equity in the company, it was able to earn PLN0.16. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Who Owns Bytom SA (WSE:BTM)?

In this analysis, my focus will be on developing a perspective on Bytom SA’s (WSE:BTM) latest ownership structure, a less discussed, but important factor. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … Therefore, it is beneficial for us to examine BTM's ownership structure in more detail.

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How Does Bytom SA's (WSE:BTM) Earnings Growth Stack Up Against The Industry?

For long-term investors, assessing earnings trend over time and against industry benchmarks is more beneficial than examining a single earnings announcement at a point in time. … Did BTM beat its long-term earnings growth trend and its industry. … BTM's trailing twelve-month earnings (from 31 March 2018) of zł11.38m has

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Should You Be Tempted To Sell Bytom SA (WSE:BTM) Because Of Its PE Ratio?

I am writing today to help inform people who are new to the stock market. … and want to begin learning the link between Bytom SA (WSE:BTM)’s fundamentals and stock market performance. … While this makes BTM appear like a stock to avoid or sell if you own it, you might change your mind after I explain the assumptions behind the P/E ratio

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Should You Expect Bytom SA. (WSE:BTM) To Continue Delivering An ROE Of 17.08%?

View our latest analysis for Bytom What you must know about ROE Return on Equity (ROE) is a measure of Bytom’s profit relative to its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of Bytom’s equity capital deployed. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity WSE:BTM Last Perf Jun 4th 18 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.

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What Investors Should Know About Bytom SA.'s (WSE:BTM) Financial Strength

With this reduction in debt, the current cash and short-term investment levels stands at ZŁ4.78M for investing into the business. … Moreover, BTM has produced cash from operations of ZŁ39.59M during the same period of time, resulting in an operating cash to total debt ratio of 283.43%, meaning that BTM’s operating cash is sufficient to cover its debt. … For BTM, the ratio of 19.75x suggests that interest is comfortably covered, which means that debtors may be willing to loan the company more money, giving BTM ample headroom to grow its debt facilities.Next Steps: BTM has demonstrated its ability to generate sufficient levels of cash flow, while its debt hovers at an appropriate level.

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Is Bytom SA. (WSE:BTM) A Sell At Its Current PE Ratio?

By comparing a stock’s price per share to its earnings per share, we are able to see how much investors are paying for each dollar of the company’s earnings. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for BTM Price per share = PLN3 Earnings per share = PLN0.132 ∴ Price-Earnings Ratio = PLN3 ÷ PLN0.132 = 22.7x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … BTM’s P/E of 22.7x is higher than its industry peers (13.7x), which implies that each dollar of BTM’s earnings is being overvalued by investors.

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Where Bytom SA.'s (WSE:BTM) Earnings Growth Stands Against Its Industry

(WSE:BTM) released its most recent earnings update (30 September 2017), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were Bytom's average earnings over the past couple of years, and its industry performance. … View our latest analysis for Bytom Commentary On BTM's Past Performance I look at data from the most recent 12 months, which annualizes the latest 6-month earnings release, or some times, the latest annual report is already the most recent financial data.

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Company Info

Map
Description

Bytom S.A. produces and sells fabrics and accessories for men in Poland. It offers suits, jackets and coats, shirts, trousers, sweaters, vests, T-shirts, polo shirts, shorts, sweatshirts, boots, and linen collection. The company also provides accessories, such as ties, pocket squares, socks, flies, cufflinks, suspenders, underwear’s, stripes, hats/caps, and other accessories. In addition, it offers tailoring services. The company offers its products under the BYTOM brand name. Bytom S.A. was founded in 1945 and is headquartered in Kraków, Poland.

Details
Name: Bytom S.A.
BTM
Exchange: WSE
Founded: 1945
PLN203,426,960
73,973,440
Website: http://www.bytom.com.pl
Address: Bytom S.A.
ul. prof. Michal Zyczkowski 19,
Kraków,
31-864,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE BTM Common Stock Warsaw Stock Exchange PL PLN 06. Jan 1995
LSE 0ONK Common Stock London Stock Exchange GB PLN 06. Jan 1995
Number of employees
Current staff
Staff numbers
0
Bytom employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/02 18:33
End of day share price update: 2018/11/28 00:00
Last estimates confirmation: 2018/11/28
Last earnings filing: 2018/11/28
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


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.