WSE:KRU

Stock Analysis Report

Executive Summary

KRUK Spólka Akcyjna, together with its subsidiaries, engages in the management of debt for institutional clients in Poland, Romania, Italy, the Czech Republic, Germany, and Spain.

Snowflake

Fundamentals

Acceptable track record second-rate dividend payer.


Similar Companies

Share Price & News

How has KRUK Spólka Akcyjna's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-11.4%

KRU

-11.2%

PL Consumer Finance

0.7%

PL Market


1 Year Return

-38.0%

KRU

-38.2%

PL Consumer Finance

-4.5%

PL Market

Return vs Industry: KRU underperformed the Polish Consumer Finance industry which returned -38.2% over the past year.

Return vs Market: KRU underperformed the Polish Market which returned -4.5% over the past year.


Shareholder returns

KRUIndustryMarket
7 Day-11.4%-11.2%0.7%
30 Day-24.0%-23.6%-2.5%
90 Day-35.0%-34.4%-6.9%
1 Year-36.2%-38.0%-36.5%-38.2%-1.6%-4.5%
3 Year-43.4%-46.5%-44.0%-47.0%11.8%3.9%
5 Year21.7%12.8%13.0%5.2%-1.0%-13.0%

Price Volatility Vs. Market

How volatile is KRUK Spólka Akcyjna's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is KRUK Spólka Akcyjna undervalued compared to its fair value and its price relative to the market?

37.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: KRU (PLN121.8) is trading below our estimate of fair value (PLN194.03)

Significantly Undervalued: KRU is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: KRU is poor value based on its PE Ratio (7.5x) compared to the Consumer Finance industry average (6.8x).

PE vs Market: KRU is good value based on its PE Ratio (7.5x) compared to the Polish market (10x).


Price to Earnings Growth Ratio

Low PEG Ratio: KRU is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: KRU is overvalued based on its PB Ratio (1.3x) compared to the PL Consumer Finance industry average (0.6x).


Next Steps

Future Growth

How is KRUK Spólka Akcyjna forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

5.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KRU's forecast earnings growth (5.4% per year) is above the savings rate (2.9%).

Earnings vs Market: KRU's earnings (5.4% per year) are forecast to grow slower than the Polish market (10.6% per year).

High Growth Earnings: KRU's earnings are forecast to grow, but not significantly.

Revenue vs Market: KRU's revenue (8.1% per year) is forecast to grow faster than the Polish market (5.6% per year).

High Growth Revenue: KRU's revenue (8.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: KRU's Return on Equity is forecast to be low in 3 years time (16%).


Next Steps

Past Performance

How has KRUK Spólka Akcyjna performed over the past 5 years?

16.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: KRU's earnings have grown by 16.6% per year over the past 5 years.

Accelerating Growth: KRU's earnings growth over the past year (15%) is below its 5-year average (16.6% per year).

Earnings vs Industry: KRU earnings growth over the past year (15%) exceeded the Consumer Finance industry 7.8%.


Return on Equity

High ROE: KRU's Return on Equity (16.8%) is considered low.


Return on Assets

ROA vs Industry: KRU has a higher Return on Assets than the Consumer Finance industry average last year.


Return on Capital Employed

ROCE Improving: KRU's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is KRUK Spólka Akcyjna's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: KRU has a low level of unsold assets or inventory.

Debt Coverage by Assets: KRU's debt is not covered by short term assets (assets are 0.2x debt).


Financial Institutions Analysis

Asset Level: KRU's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if KRU has a sufficient allowance for bad loans.

Low Risk Liabilities: KRU reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if KRU has an acceptable proportion of non-loan assets held.

Low Risk Deposits: KRU has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if KRU has an appropriate level of bad loans.


Next Steps

Dividend

What is KRUK Spólka Akcyjna's current dividend yield, its reliability and sustainability?

4.11%

Current Dividend Yield


Dividend Yield vs Market

company4.1%marketbottom25%2.6%markettop25%7.3%industryaverage4.7%forecastin3Years5.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: KRU's dividend (4.11%) is higher than the bottom 25% of dividend payers in the Polish market (2.6%).

High Dividend: KRU's dividend (4.11%) is low compared to the top 25% of dividend payers in the Polish market (7.25%).

Stable Dividend: Whilst dividend payments have been stable, KRU has been paying a dividend for less than 10 years.

Growing Dividend: KRU's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (30.7%), KRU's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KRU's dividends in 3 years are forecast to be well covered by earnings (40.4% payout ratio).


Next Steps

Management

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

12.3yrs

Average management tenure


CEO

Piotr Krupa 0

0yrs

Tenure

zł2,406,280

Compensation

Mr. Piotr Krupa co-founded KRUK Spolka Akcyjna (alternate name KRUK SA) in 2003 and serves as its President of Management Board and Chief Executive Officer. Mr. Krupa started his professional career in 199 ...


CEO Compensation Analysis

Compensation vs. Market: Piotr's total compensation ($USD618.87K) is about average for companies of similar size in the Polish market ($USD0.00).

Compensation vs Earnings: Piotr's compensation has been consistent with company performance over the past year.


Management Age and Tenure

12.3yrs

Average Tenure

Experienced Management: KRU's management team is seasoned and experienced (12.3 years average tenure).


Board Age and Tenure

6.5yrs

Average Tenure

55yo

Average Age

Experienced Board: KRU's board of directors are considered experienced (6.5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Michal Zasepa

    CFO & Member of the Management Board

    • Tenure: 9.3yrs
    • Compensation: zł836.15k
  • Iwona Slomska

    Member of the Management Board

    • Tenure: 10.8yrs
    • Compensation: zł773.20k
  • Agnieszka Kulton

    Member of the Management Board

    • Tenure: 13.8yrs
    • Compensation: zł774.28k
  • Piotr Krupa

    President of the Management Board & CEO

    • Tenure: 0yrs
    • Compensation: zł2.41m
  • Urszula Okarma

    Member of the Management Board

    • Tenure: 13.8yrs
    • Compensation: zł773.20k
  • Damian Babka

    Investor Relations & Business Development Manager

    • Tenure: 0yrs

Board Members

  • Arkadiusz Jastrzebski

    Member of Supervisory Board

    • Tenure: 6.6yrs
  • Piotr Stepniak (57yo)

    Chairman of the Supervisory Board

    • Tenure: 0yrs
  • Katarzyna Beuch

    Member of Supervisory Board

    • Tenure: 6.5yrs
  • Krzysztof Kawalec (46yo)

    Member of Supervisory Board

    • Tenure: 0yrs
  • Robert Konski (53yo)

    Member of Supervisory Board

    • Tenure: 6.6yrs
  • Józef Wancer (77yo)

    Member of Supervisory Board

    • Tenure: 0yrs
  • Tomasz Bieske

    Member of Supervisory Board

    • Tenure: 6.2yrs

Company Information

KRUK Spólka Akcyjna's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: KRUK Spólka Akcyjna
  • Ticker: KRU
  • Exchange: WSE
  • Founded: 1998
  • Industry: Consumer Finance
  • Sector: Diversified Financials
  • Market Cap: zł2.306b
  • Shares outstanding: 18.93m
  • Website: https://www.pl.kruk.eu/

Number of Employees


Location

  • KRUK Spólka Akcyjna
  • ul. Wolowska 8
  • Wroclaw
  • 51-116
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KRUWSE (Warsaw Stock Exchange)YesOrdinary Bearer SharesPLPLNMay 2011
0Q3YLSE (London Stock Exchange)YesOrdinary Bearer SharesGBPLNMay 2011

Biography

KRUK Spólka Akcyjna, together with its subsidiaries, engages in the management of debt for institutional clients in Poland, Romania, Italy, the Czech Republic, Germany, and Spain. It purchases and manages  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 21:17
End of Day Share Price2019/10/15 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.