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Monnari Trade

WSE:MON
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MON
WSE
PLN178M
Market Cap
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Last updated 2019/04/25 21:12
Company description

Monnari Trade S.A. engages in the design, outsourced production, marketing, and sale of clothing products and accessories for women in Poland and internationally. The last earnings update was 55 days ago. More info.

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MON Share Price and Events
7 Day Returns
0%
WSE:MON
-1.7%
PL Luxury
-0.5%
PL Market
1 Year Returns
-29.8%
WSE:MON
-10.1%
PL Luxury
-1.1%
PL Market
MON Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Monnari Trade (MON) 0% -4.4% 3.7% -29.8% -59.7% -33.7%
PL Luxury -1.7% 2.8% 6.5% -10.1% 37.8% 27.1%
PL Market -0.5% 1.1% -0.4% -1.1% 13.5% -4%
1 Year Return vs Industry and Market
  • MON underperformed the Luxury industry which returned -10.1% over the past year.
  • MON underperformed the Market in Poland which returned -1.1% over the past year.
Price Volatility
MON
Industry
5yr Volatility vs Market

Value

 Is Monnari Trade 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 Monnari Trade 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 Monnari Trade.

WSE:MON 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 2.9%

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:MON
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.73 (1 + (1- 19%) (0%)) 		0.819
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (0.819 * 7.14%) 		8.7%

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

The calculations below outline how an intrinsic value for Monnari Trade 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.

WSE:MON DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 8.7%)
2019 20.80 Analyst x1 19.14
2020 21.50 Analyst x1 18.20
2021 22.18 Est @ 3.17% 17.27
2022 22.86 Est @ 3.07% 16.38
2023 23.55 Est @ 3.01% 15.52
2024 24.25 Est @ 2.96% 14.70
2025 24.96 Est @ 2.93% 13.92
2026 25.68 Est @ 2.9% 13.18
2027 26.42 Est @ 2.89% 12.47
2028 27.18 Est @ 2.88% 11.81
Present value of next 10 years cash flows PLN152.58
WSE:MON DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN27.18 × (1 + 2.85%) ÷ (8.7% – 2.85%) 		PLN478.12
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN478.12 ÷ (1 + 8.7%)10 		PLN207.66
WSE:MON Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN152.58 + PLN207.66 		PLN360.24
Equity Value per Share
(PLN)		 = Total value / Shares Outstanding
= PLN360.24 / 30.56 		PLN11.79
WSE:MON Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN11.79
Current discount Discount to share price of PLN5.82
= -1 x (PLN5.82 - PLN11.79) / PLN11.79 		50.6%

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

Current Discount
Amount off the current price Monnari Trade is available for.
Intrinsic value
>50%
Share price is PLN5.82 vs Future cash flow value of PLN11.79
Current Discount Checks
For Monnari Trade to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Monnari Trade's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Monnari Trade'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 Monnari Trade's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Monnari Trade's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:MON PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN0.60
WSE:MON Share Price ** WSE (2019-04-25) in PLN PLN5.82
Poland Luxury Industry PE Ratio Median Figure of 11 Publicly-Listed Luxury Companies 9.87x
Poland Market PE Ratio Median Figure of 459 Publicly-Listed Companies 10.97x

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

** Primary Listing of Monnari Trade.

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

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

= 5.82 ÷ 0.60

 9.77x

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

  • Monnari Trade is good value based on earnings compared to the PL Luxury industry average.
  • Monnari Trade is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does Monnari Trade's expected growth come at a high price?
Raw Data
WSE:MON PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.77x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts		 -4.6%per year
Poland Luxury Industry PEG Ratio Median Figure of 6 Publicly-Listed Luxury Companies 0.93x
Poland Market PEG Ratio Median Figure of 113 Publicly-Listed Companies 1.14x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 9.77x ÷ -4.6%

 -2.12x

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

  • Monnari Trade earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Monnari Trade's assets?
Raw Data
WSE:MON PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN7.68
WSE:MON Share Price * WSE (2019-04-25) in PLN PLN5.82
Poland Luxury Industry PB Ratio Median Figure of 14 Publicly-Listed Luxury Companies 1.07x
Poland Market PB Ratio Median Figure of 687 Publicly-Listed Companies 1x
WSE:MON PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 5.82 ÷ 7.68

 0.76x

* Primary Listing of Monnari Trade.

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

  • Monnari Trade is good value based on assets compared to the PL Luxury industry average.
Show me more potentially undervalued companies in the Luxury industry
X
Value checks
We assess Monnari Trade'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. Monnari Trade 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.

Future Performance

 How is Monnari Trade 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
-4.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Monnari Trade expected to grow at an attractive rate?
  • Monnari Trade's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Monnari Trade's earnings are expected to decrease over the next 1-3 years, this is below the Poland market average.
  • Monnari Trade's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:MON Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:MON Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -4.6%
WSE:MON Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 0.9%
Poland Luxury Industry Earnings Growth Rate Market Cap Weighted Average 21.5%
Poland Luxury Industry Revenue Growth Rate Market Cap Weighted Average 12.5%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.3%
Poland Market Revenue Growth Rate Market Cap Weighted Average 6.5%

*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
Raw Data
WSE:MON Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:MON Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 252 15 1
2020-12-31 251 27 16 2
2019-12-31 242 26 16 1
WSE:MON Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 246 -9 17
2018-09-30 238 -10 21
2018-06-30 241 12 23
2018-03-31 242 20 21
2017-12-31 247 33 22
2017-09-30 245 38 29
2017-06-30 237 30 28
2017-03-31 233 24 32
2016-12-31 232 30 36
2016-09-30 232 21 24
2016-06-30 228 17 45
2016-03-31 223 16 47

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Monnari Trade's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Monnari Trade's revenue is expected to grow by 0.9% 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:MON Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Monnari Trade Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:MON Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
WSE:MON Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 0.60
2018-09-30 0.71
2018-06-30 0.79
2018-03-31 0.73
2017-12-31 0.73
2017-09-30 0.97
2017-06-30 0.92
2017-03-31 1.05
2016-12-31 1.18
2016-09-30 0.79
2016-06-30 1.49
2016-03-31 1.53

*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.
  • Monnari Trade is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Monnari Trade'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.
Monnari Trade 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.

Past Performance

  How has Monnari Trade 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 Monnari Trade'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.
  • Monnari Trade's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Monnari Trade's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Monnari Trade's 1-year earnings growth is negative, it can't be compared to the PL Luxury industry average.
Earnings and Revenue History
Monnari Trade'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 Monnari Trade Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:MON Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 246.30 17.32 121.70
2018-09-30 238.16 20.62 119.24
2018-06-30 241.46 23.02 116.75
2018-03-31 241.92 21.45 115.45
2017-12-31 247.44 21.73 114.49
2017-09-30 244.96 28.75 113.77
2017-06-30 237.27 27.53 111.29
2017-03-31 233.11 31.83 108.10
2016-12-31 231.77 35.82 104.01
2016-09-30 231.75 24.22 99.84
2016-06-30 228.23 45.39 95.65
2016-03-31 222.53 46.80 90.41
2015-12-31 213.70 46.31 87.51
2015-09-30 199.97 47.59 83.07
2015-06-30 193.97 30.93 80.29
2015-03-31 183.91 27.13 79.11
2014-12-31 175.19 30.36 76.61
2014-09-30 162.74 27.27 73.52
2014-06-30 159.41 24.37 71.85
2014-03-31 150.01 22.39 68.60
2013-12-31 145.52 17.41 66.23
2013-09-30 139.30 14.64 64.30
2013-06-30 136.56 12.86 62.57
2013-03-31 135.08 10.75 61.41
2012-12-31 131.78 8.23 60.18
2012-09-30 124.15 3.94 59.12
2012-06-30 117.52 -0.96 58.47

*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.
  • Monnari Trade has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Monnari Trade used its assets less efficiently than the PL Luxury industry average last year based on Return on Assets.
  • Monnari Trade's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Monnari Trade'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.
Monnari Trade has a total score of 0/6, 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 Monnari Trade'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 Monnari Trade's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Monnari Trade is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Monnari Trade's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Monnari Trade'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.
  • Monnari Trade 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 Monnari Trade Company Filings, last reported 3 months ago.

WSE:MON Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 217.91 0.00 39.40
2018-09-30 204.67 0.00 19.52
2018-06-30 207.22 0.00 50.40
2018-03-31 202.11 0.00 43.57
2017-12-31 203.28 0.00 69.08
2017-09-30 188.23 0.00 52.05
2017-06-30 189.46 0.00 62.35
2017-03-31 186.80 0.00 48.35
2016-12-31 188.88 0.00 61.27
2016-09-30 167.59 0.00 34.07
2016-06-30 168.15 0.00 54.60
2016-03-31 168.21 0.00 43.64
2015-12-31 165.77 0.00 49.11
2015-09-30 153.15 0.00 30.05
2015-06-30 132.54 0.00 47.79
2015-03-31 122.32 0.00 31.76
2014-12-31 119.46 0.00 37.63
2014-09-30 105.56 0.00 11.20
2014-06-30 101.61 0.00 6.65
2014-03-31 95.12 0.00 18.48
2013-12-31 89.10 0.00 28.36
2013-09-30 77.89 22.90 26.20
2013-06-30 76.96 23.02 34.57
2013-03-31 72.55 25.03 29.31
2012-12-31 71.46 24.75 32.12
2012-09-30 63.42 24.87 7.58
2012-06-30 64.16 25.10 14.92
  • Monnari Trade has no debt.
  • Monnari Trade had no debt 5 years ago.
  • Monnari Trade has no debt, it does not need to be covered by operating cash flow.
  • Monnari Trade has no debt, therefore coverage of interest payments is not a concern.
Show me more healthy companies in the Luxury industry
X
Financial health checks
We assess Monnari Trade'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. Monnari Trade 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 Monnari Trade'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 Monnari Trade dividends. Estimated to be 0% next year.
If you bought PLN2,000 of Monnari Trade 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 Monnari Trade's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Monnari Trade'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:MON 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 0.9%
Poland Market Average Dividend Yield Market Cap Weighted Average of 204 Stocks 3.3%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.3%
Poland Bottom 25% Dividend Yield 25th Percentile 2.7%
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:MON Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00
WSE:MON Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2017-11-16 0.000 0.000
2017-08-25 0.000 0.000
2017-05-19 0.000 0.000
2017-04-25 0.000 0.000
2017-02-24 0.000 0.000
2016-04-20 0.200 1.732
2016-02-16 0.200 1.342

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

  • Unable to perform a dividend volatility check as Monnari Trade has not reported any payouts.
  • Unable to verify if Monnari Trade's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Monnari Trade's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Monnari Trade has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Monnari Trade's dividends in 3 years as they are not expected to pay a notable one for Poland.
X
Income/ dividend checks
We assess Monnari Trade'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 Monnari Trade afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Monnari Trade 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 Monnari Trade'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
Miroslaw Misztal
COMPENSATION PLN390,000
CEO Bio

Mr. Miroslaw Misztal is the Founder of Monnari Trade Spolka Akcyjna (Alternate Name: Monnari Trade SA) and serves as its has been its President of the Management Board. Mr. Misztal served as Vice President of the Management Board since 2006 and serves as its Member of Management Board. Mr. Misztal served as President of the Management Board at Monnari Trade SA from 2000 to 2006. He served as Vice-President of the Management Board at "Factory" Sp. z o.o since 2004. He was the Owner of a clothing company from 1982 to 1990, Lyon from 1991 to 1996 and co-owner for "Lyon" civil law partnerships from 1996 to 1999. He was the Owner PPHU "KANONO" since 1992. He served as a Vice President of the Management Board at Fair Sp. z o.o since 2000 and President of the Management Board since 2004.

CEO Compensation
  • Miroslaw's compensation has increased by more than 20% in the past year.
  • Miroslaw's remuneration is higher than average for companies of similar size in Poland.
Management Team

Miroslaw Misztal

TITLE
Founder and President of Management Board
COMPENSATION
PLN390K
Board of Directors Tenure

Average tenure of the Monnari Trade board of directors in years:

7.8
Average Tenure
  • The tenure for the Monnari Trade board of directors is about average.
Board of Directors

Jerzy Leszczynski

TITLE
Chairman of Supervisory Board
COMPENSATION
PLN18K

Adam Majka

TITLE
Member of Supervisory Board
COMPENSATION
PLN19K
TENURE
7.8 yrs

Ryszard Zatorski

TITLE
Member of Supervisory Board
COMPENSATION
PLN19K

Zbigniew Wojnicki

TITLE
Member of Supervisory Board
COMPENSATION
PLN19K
TENURE
8.3 yrs

Anna Augustyniak-Kala

TITLE
Member of Supervisory Board
COMPENSATION
PLN18K
TENURE
7.8 yrs

Jacek Pierzynski

TITLE
Member of Supervisory Board
COMPENSATION
PLN18K
TENURE
7.8 yrs

Marian Berman

TITLE
Member of 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 Monnari Trade'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. Monnari Trade 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

Simply Wall St News

Monnari Trade S.A. (WSE:MON): Should The Future Outlook Worry You?

The latest earnings update Monnari Trade S.A. … (WSE:MON) released in December 2018a … showed

Simply Wall St - –

Here's What Monnari Trade S.A.'s (WSE:MON) P/E Ratio Is Telling Us

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Monnari Trade S.A.'s (WSE:MON) P/E ratio and reflect on what it tells us about the company's share price. … Monnari Trade has a price to earnings ratio of 7.93, based on the last twelve months.

Simply Wall St - –

These Fundamentals Make Monnari Trade S.A. (WSE:MON) Truly Worth Looking At

(WSE:MON) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … is a company that has been able to sustain great financial health, trading at an attractive share price.

Simply Wall St - –

Should You Worry About Monnari Trade S.A.’s (WSE:MON) ROCE?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … 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 - –

Can We See Significant Insider Ownership On The Monnari Trade SA (WSE:MON) Share Register?

If you want to know who really controls Monnari Trade SA (WSE:MON), then you'll have to look at the makeup of its share registry. … With a market capitalization of zł148m, Monnari Trade is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for Monnari Trade

Simply Wall St - –

Is Monnari Trade SA's (WSE:MON) Balance Sheet Strong Enough To Weather A Storm?

Monnari Trade SA (WSE:MON), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … Does MON's growth rate justify its decision for financial flexibility over lower cost of capital. … Debt capital generally has lower cost of capital compared to equity funding

Simply Wall St - –

Does Monnari Trade SA (WSE:MON)'s Capital Return Make The Cut?

and looking to gauge the potential return on investment in Monnari Trade SA (WSE:MON). … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Monnari Trade’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St - –

Interested In Monnari Trade SA (WSE:MON)? Here's How It Performed Recently

For long term investors, improvement in profitability and outperformance against the industry can be important characteristics in a stock. … In this article, I will take a look at Monnari Trade SA's (WSE:MON) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … See our latest analysis for Monnari Trade?

Simply Wall St - –

Are Monnari Trade SA's (WSE:MON) Interest Costs Too High?

Monnari Trade SA (WSE:MON), which has zero-debt on its balance sheet, can maximize capital returns by increasing debt due to its lower cost of capital. … Is financial flexibility worth the lower cost of capital … There are well-known benefits of including debt in capital structure, primarily a lower cost of capital.

Simply Wall St - –

Monnari Trade SA (WSE:MON): A Fundamentally Attractive Investment

I've been keeping an eye on Monnari Trade SA (WSE:MON) because I'm attracted to its fundamentals. … Below, I've touched on some key aspects you should know on a high level. … report on Monnari Trade here

Simply Wall St - –

Company Info

Description

Monnari Trade S.A. engages in the design, outsourced production, marketing, and sale of clothing products and accessories for women in Poland and internationally. The company sells its products under the MONNARI brand through its network of stores and online. The company was formerly known as MONNARI s.c. and changed its name to Monnari Trade S.A. in 2000. Monnari Trade S.A. was founded in 1998 and is based in Lodz, Poland.

Details
Name: Monnari Trade S.A.
MON
Exchange: WSE
Founded: 1998
PLN177,877,177
30,563,089
Website: http://www.monnaritrade.com
Address: Monnari Trade S.A.
ul. Radwanska 6,
Lodz,
90-453,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE MON Common Bearer Shares Warsaw Stock Exchange PL PLN 20. Dec 2006
LSE 0LW1 Common Bearer Shares London Stock Exchange GB PLN 20. Dec 2006
Number of employees
Current staff
Staff numbers
0
Monnari Trade employees.
Industry
Apparel, Accessories and Luxury Goods
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/25 21:12
End of day share price update: 2019/04/25 00:00
Last estimates confirmation: 2019/03/01
Last earnings filing: 2019/03/01
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.

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