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MCI Capital

WSE:MCI
Snowflake Description

Good value with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MCI
WSE
PLN487M
Market Cap
  1. Home
  2. PL
  3. Diversified Financials
Company description

MCI Capital S.A. specializes in fund of fund investments in private equity and venture capital funds at growth, PE/LBO and private debt level. The last earnings update was 53 days ago. More info.


Add to Portfolio Compare Print
  • MCI Capital is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
MCI Share Price and Events
7 Day Returns
-2.2%
WSE:MCI
-0.9%
PL Capital Markets
1%
PL Market
1 Year Returns
-2.8%
WSE:MCI
-20.2%
PL Capital Markets
-13.1%
PL Market
MCI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MCI Capital (MCI) -2.2% -4.9% -11.6% -2.8% -11.7% -2.2%
PL Capital Markets -0.9% -0% -11.5% -20.2% -15.2% -27.6%
PL Market 1% 1.6% 5.1% -13.1% 26.6% -3.4%
1 Year Return vs Industry and Market
  • MCI outperformed the Capital Markets industry which returned -20.2% over the past year.
  • MCI outperformed the Market in Poland which returned -13.1% over the past year.
Price Volatility
MCI
Industry
5yr Volatility vs Market

Value

 Is MCI Capital 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 MCI Capital 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 MCI Capital.

WSE:MCI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= PLN19.54 * 7.4%
PLN1.45
Book Value of Equity per Share Median Book Value from the past 5 years. PLN19.54
Discount Rate (Cost of Equity) See below 8.8%
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:MCI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.2%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.595 (1 + (1- 19%) (50.4%))
0.837
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (0.837 * 7.15%)
8.84%

Discounted Cash Flow Calculation for WSE:MCI using Excess Returns Model Model

The calculations below outline how an intrinsic value for MCI Capital is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

WSE:MCI Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.4% – 8.84%) * PLN19.54)
PLN-0.28
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= PLN-0.28 / (8.84% - 2.85%)
PLN-4.60
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= PLN19.54 + PLN-4.60
PLN14.93
WSE:MCI Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN14.93
Current discount Discount to share price of PLN9.02
= -1 x (PLN9.02 - PLN14.93) / PLN14.93
39.6%

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

Current Discount
Amount off the current price MCI Capital is available for.
Intrinsic value
40%
Share price is PLN9.02 vs Future cash flow value of PLN14.93
Current Discount Checks
For MCI Capital to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • MCI Capital's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • MCI Capital's share price is below the future cash flow value, but not 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 MCI Capital's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MCI Capital's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:MCI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in PLN PLN1.60
WSE:MCI Share Price ** WSE (2019-01-18) in PLN PLN9.02
Poland Capital Markets Industry PE Ratio Median Figure of 16 Publicly-Listed Capital Markets Companies 9.51x
Poland Market PE Ratio Median Figure of 448 Publicly-Listed Companies 10.34x

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

** Primary Listing of MCI Capital.

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

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

= 9.02 ÷ 1.60

5.64x

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

  • MCI Capital is good value based on earnings compared to the PL Capital Markets industry average.
  • MCI Capital is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does MCI Capital's expected growth come at a high price?
Raw Data
WSE:MCI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.64x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Capital Markets Industry PEG Ratio Median Figure of 59 Publicly-Listed Capital Markets Companies 1.26x
Poland Market PEG Ratio Median Figure of 100 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for MCI Capital, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on MCI Capital's assets?
Raw Data
WSE:MCI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in PLN PLN21.94
WSE:MCI Share Price * WSE (2019-01-18) in PLN PLN9.02
Poland Capital Markets Industry PB Ratio Median Figure of 37 Publicly-Listed Capital Markets Companies 0.56x
Poland Market PB Ratio Median Figure of 687 Publicly-Listed Companies 0.98x
WSE:MCI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 9.02 ÷ 21.94

0.41x

* Primary Listing of MCI Capital.

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

  • MCI Capital is good value based on assets compared to the PL Capital Markets industry average.
X
Value checks
We assess MCI Capital'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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. MCI Capital has a total score of 4/6, 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 MCI Capital expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 MCI Capital 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
2.1%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MCI Capital expected to grow at an attractive rate?
  • Unable to compare MCI Capital's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare MCI Capital's earnings growth to the Poland market average as no estimate data is available.
  • Unable to compare MCI Capital's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:MCI Future Growth Rates Data Sources
Data Point Source Value (per year)
Poland Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 2.1%
Europe Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 5.2%
Poland Market Earnings Growth Rate Market Cap Weighted Average 9%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*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:MCI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:MCI Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-09-30 132 -2 85
2018-06-30 148 15 129
2018-03-31 181 42 162
2017-12-31 124 16 105
2017-09-30 54 36 40
2017-06-30 -68 25 -83
2017-03-31 -128 67 -136
2016-12-31 -75 72 -82
2016-09-30 -19 54 -16
2016-06-30 63 41 67
2016-03-31 144 -1 138
2015-12-31 126 1 121

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if MCI Capital is high growth as no earnings estimate data is available.
  • Unable to determine if MCI Capital is high growth as no revenue estimate data is available.
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:MCI 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 0 Analyst Estimates (S&P Global) See Below

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

WSE:MCI Past Financials Data
Date (Data in PLN Millions) EPS *
2018-09-30 1.60
2018-06-30 2.44
2018-03-31 2.98
2017-12-31 1.88
2017-09-30 0.69
2017-06-30 -1.39
2017-03-31 -2.24
2016-12-31 -1.34
2016-09-30 -0.26
2016-06-30 1.07
2016-03-31 2.22
2015-12-31 1.94

*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.
  • Unable to establish if MCI Capital will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether MCI Capital is trading at MCI Capital'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. MCI Capital's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Diversified Financials companies here
  3. MCI Capital's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess MCI Capital'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 Europe 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.
MCI Capital 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 MCI Capital 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 MCI Capital's growth in the last year to its industry (Capital Markets).
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.
  • MCI Capital's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • MCI Capital's 1-year earnings growth exceeds its 5-year average (111.9% vs -36.3%)
  • MCI Capital's earnings growth has exceeded the PL Capital Markets industry average in the past year (111.9% vs -26.2%).
Earnings and Revenue History
MCI Capital'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 MCI Capital Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:MCI Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 131.57 84.57 4.09
2018-06-30 147.53 128.70 4.29
2018-03-31 181.42 161.65 3.99
2017-12-31 123.52 104.69 4.04
2017-09-30 54.34 39.90 4.27
2017-06-30 -68.06 -83.04 4.40
2017-03-31 -127.99 -136.07 5.28
2016-12-31 -74.95 -82.24 5.35
2016-09-30 -19.37 -16.32 5.01
2016-06-30 62.51 66.64 5.00
2016-03-31 143.92 138.40 5.16
2015-12-31 126.05 121.46 5.62
2015-09-30 147.51 130.08 6.33
2015-06-30 170.18 153.64 7.19
2015-03-31 212.31 203.12 8.74
2014-12-31 359.66 352.28 8.88
2014-09-30 393.93 349.35 10.06
2014-06-30 371.56 396.78 10.11
2014-03-31 271.68 373.08 13.32
2013-12-31 78.18 186.32 13.25
2013-09-30 20.22 174.73 13.39
2013-06-30 22.20 94.85 13.87
2013-03-31 25.85 41.98 9.56
2012-12-31 31.74 41.57 9.43
2012-09-30 46.92 46.88 8.43
2012-06-30 44.36 14.59 8.19
2012-03-31 41.11 -2.54 7.93

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • MCI Capital's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • MCI Capital's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of MCI Capital'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.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x debt.
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 MCI Capital Company Filings, last reported 3 months ago.

WSE:MCI Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 1,160.36 245.37 0.37
2018-06-30 1,161.63 242.26 0.98
2018-03-31 1,157.77 244.55 30.12
2017-12-31 1,090.07 255.73 25.23
2017-09-30 1,075.40 289.66 34.62
2017-06-30 1,032.53 286.46 18.43
2017-03-31 1,042.28 268.99 45.29
2016-12-31 1,042.67 282.24 81.26
2016-09-30 1,112.88 232.30 55.35
2016-06-30 1,192.95 230.00 56.08
2016-03-31 1,212.50 233.12 6.50
2015-12-31 1,154.62 230.75 60.33
2015-09-30 1,138.55 167.15 0.73
2015-06-30 1,135.71 165.84 2.62
2015-03-31 1,080.14 166.88 1.51
2014-12-31 1,032.40 179.07 15.28
2014-09-30 1,007.90 174.30 152.88
2014-06-30 979.71 176.49 126.23
2014-03-31 872.92 233.34 12.18
2013-12-31 763.48 169.73 78.81
2013-09-30 747.08 136.73 56.47
2013-06-30 666.98 156.78 59.98
2013-03-31 582.08 90.29 35.34
2012-12-31 572.15 96.30 38.79
2012-09-30 561.73 92.84 30.01
2012-06-30 555.77 89.32 28.37
2012-03-31 535.13 94.78 32.70
  • MCI Capital's level of debt (21.1%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (18.3% vs 21.1% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 8.6x coverage).
X
Financial health checks
We assess MCI Capital'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. MCI Capital has a total score of 2/6, 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 MCI Capital'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 MCI Capital dividends.
If you bought PLN2,000 of MCI Capital 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 MCI Capital's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate MCI Capital'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:MCI 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 0 Analyst Estimates (S&P Global) See Below
Poland Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 7.2%
Poland Market Average Dividend Yield Market Cap Weighted Average of 209 Stocks 3.3%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.5%
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.

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

  • Unable to perform a dividend volatility check as MCI Capital has not reported any payouts.
  • Unable to verify if MCI Capital's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of MCI Capital's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as MCI Capital 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 MCI Capital's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 MCI Capital afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MCI Capital 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 MCI Capital'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
Tomasz Czechowicz
COMPENSATION PLN0
AGE 48
CEO Bio

Mr. Tomasz Janusz Czechowicz is the Founder, Group Managing Partner, Chief Executive Officer, President, Chief Investment Officer and Chairman of Management Board at MCI Capital S.A. Mr. Czechowicz has focus on Private Equity, venture capital, technology and digitalization. Mr. Czechowicz serves as Fund Manager at MCI. EuroVentures 1.0 FIZ and MCI. TechVentures 1.0 FIZ. He serves as the President of Management Board, Chief Executive Officer, Managing Partner and Chief Investment Officer at Private Equity Managers SA. He specializes in private equity and venture capital at the firm. He serves as Chairman of the Management Board and Fund Manager at MCI Capital TFI SA. He has been a Member of Supervisory Board of ABC Data S.A. since March 01, 2012. He serves as a Director of MCI Management SA. He was a Member of the Supervisory Board at Wirtualna Polska Holding S.A. until April 26, 2017. He serves as a Director of Indeks Bilgisayar Sistemleri Mühendislik Sanayi ve Ticaret Anonim Sirketi. He has been a Member of Supervisory Board at windeln.de SE since June 10, 2017. He serves as a Member of Supervisory Board of MCI Management SA Capital Group. Previously, he served as the Vice President of the Management Board at MCI Capital S.A. since March 2014. He was Vice President of Management Board at Private Equity Managers SA. He was founder of Poland.com S.A. and served as its President. Mr. Czechowicz served as President of the Board at the firm. In May 1998, he founded MCI Group and served as its Chief Executive Officer since May 1998. He served as President, Fund Manager and Chairman of the Management Board at Internet Ventures FIZ. Mr. Czechowicz served as the Chief Executive Officer, President and Managing Partner at JTT Computer SA from 1990 to 1998, which he co-founded in 1990 and built into a leading Central European PC-assembly and distribution operations. He was founder of Technopolis Sp. z o.o and served as its President. Mr. Czechowicz served as the Chairman of the Supervisory Board of Travelplanet.pl Spólka Akcyjna until March 1, 2007. Mr. Czechowicz served as Vice Chairman of Supervisory Board of ABC Data S.A. since March 9, 2012 and has been its Member of Supervisory Board since March 9, 2012. He served as a Member of Advisory Board of windeln.de AG from January 29, 2013 to November 5, 2014. Mr. Czechowicz served as a Member of Supervisory Board of Travelplanet.pl Spólka Akcyjna from March 1, 2007 to December 2, 2008 and ABC Data S.A. until December 31, 2010. He is a laureate of numerous prestigious awards including 1997 Leader of Polish Business by Business Center Club, The TOP Manager of the Year 2007 prize, in 2000, he was chosen one of the TOP-10 most influential people in the European Internet by Business Week and in 2001, the Global Leader for Tomorrow by World Economic Forum in Davos. He was selected as one of Top-20 Best Polish Managers in 2015 by Bloomberg Business Week. He has been guest speaker at many PE/VC conferences, including NOAH. He has been an entrepreneur since 1985. He specializes in growth stage, expansion, buyout and e-commerce. He holds a M.Sc. in Enterprise Management from Wroclaw University of Economics. He also completed a post-graduate management course from Szkola Glówna Handlowa w Warszawie. Mr. Czechowicz holds an Executive M.B.A. from the University of Minnesota and is a graduate from Politechnika Wroclawska.

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

Average tenure of the MCI Capital management team in years:

1
Average Tenure
  • The average tenure for the MCI Capital management team is less than 2 years, this suggests a new team.
Management Team

Tomasz Czechowicz

TITLE
Founder
AGE
48

Ewa Ogryczak

TITLE
Senior Partner

Wojciech Marcinczyk

TITLE
TENURE
5.8 yrs

Aleksandra Kulas

TITLE
Deputy Chief Financial Officer
TENURE
1 yrs

Pawel Kapica

TITLE
Member of Management Board
TENURE
0.7 yrs

Tomasz Danis

TITLE
Investment Partner & Partner of Venture Capital

Lukasz Wierdak

TITLE
Investment Partner

Krzysztof Konopinski

TITLE
Partner of Private Equity

Maciej Kowalski

TITLE
Partner of Private Equity

Arek Podziewski

TITLE
Partner of Private Equity
Board of Directors

Jaroslaw Dubinski

TITLE
Chairman of the Supervisory Board

Piotr Czapski

TITLE
Vice-Chairman of Supervisory Board
AGE
52

Grzegorz Warzocha

TITLE
Member of Supervisory Board

Marcin Petrykowski

TITLE
Member of Supervisory Board

Mariusz Grendowicz

TITLE
Member of Supervisory Board
AGE
55
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 MCI Capital'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. MCI Capital 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

External News
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Simply Wall St News

Should You Be Tempted To Buy MCI Capital SA (WSE:MCI) At Its Current PE Ratio?

This analysis is intended to introduce important early concepts to people who are starting to invest. … and want to begin learning the link between MCI Capital SA (WSE:MCI)’s fundamentals and stock market performance. … While MCI might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions

Simply Wall St -

Can MCI Capital SA. (WSE:MCI) Improve Your Portfolio Returns?

Generally, an investor should consider two types of risk that impact the market value of MCI. … MCI's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns. … Therefore, this is a type of risk which is associated with higher beta.

Simply Wall St -

Why MCI Capital SA.'s (WSE:MCI) Investor Composition Impacts Your Returns

In this article, I'm going to take a look at MCI Capital SA.’s (WSE:MCI) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … This size of ownership gives retail investors collective power in deciding on major policy decisions such as executive compensation, appointment of directors and acquisitions of businesses. … Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.

Simply Wall St -

Should You Be Tempted To Buy MCI Capital SA. (WSE:MCI) Because Of Its PE Ratio?

It compares a stock’s price per share to the stock’s earnings per share. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for MCI Price per share = PLN8.8 Earnings per share = PLN0.692 ∴ Price-Earnings Ratio = PLN8.8 ÷ PLN0.692 = 12.7x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … MCI’s P/E of 12.7x is lower than its industry peers (13.5x), which implies that each dollar of MCI’s earnings is being undervalued by investors.

Simply Wall St -

Company Info

Map
Description

MCI Capital S.A. specializes in fund of fund investments in private equity and venture capital funds at growth, PE/LBO and private debt level. It seeks to invest in CEE, Scandinavia, DACH, UK, Russia and Turkey. MCI Capital S.A. was founded in 1999 and is based in Warsaw, Poland. MCI Capital S.A. operates as a subsidiary of Czechowicz Ventures Sp z o.o.

Details
Name: MCI Capital S.A.
MCI
Exchange: WSE
Founded: 1999
PLN486,864,717
52,920,078
Website: http://www.mci.pl/en/
Address: MCI Capital S.A.
Warsaw Spire,
1 Europejski Square,
Warsaw,
00-844,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE MCI Common Bearer Shares Warsaw Stock Exchange PL PLN 13. Feb 2001
LSE 0ODV Common Bearer Shares London Stock Exchange GB PLN 13. Feb 2001
Number of employees
Current staff
Staff numbers
0
MCI Capital employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/01/18 20:39
End of day share price update: 2019/01/18 00:00
Last earnings filing: 2018/11/26
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.