WSE:XTB

Stock Analysis Report

X-Trade Brokers Dom Maklerski

Executive Summary

X-Trade Brokers Dom Maklerski S.A., together with its subsidiaries, provides currency derivatives, commodities, indices, stocks, and bonds brokerage services in Poland and internationally.

Snowflake

Fundamentals

Fair value with limited growth.

Share Price & News

How has X-Trade Brokers Dom Maklerski's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.9%

XTB

0.1%

PL Capital Markets

1.5%

PL Market


1 Year Return

-33.1%

XTB

-14.8%

PL Capital Markets

0.4%

PL Market

Return vs Industry: XTB underperformed the Polish Capital Markets industry which returned -14.8% over the past year.

Return vs Market: XTB underperformed the Polish Market which returned 0.4% over the past year.


Shareholder returns

XTBIndustryMarket
7 Day1.9%0.1%1.5%
30 Day1.3%-4.4%1.3%
90 Day-11.8%-5.0%-5.0%
1 Year-24.9%-33.1%-8.5%-14.8%3.5%0.4%
3 Year-53.1%-59.9%-18.8%-30.9%12.7%4.6%
5 Yearn/a-27.6%-39.5%0.5%-11.7%

Price Volatility Vs. Market

How volatile is X-Trade Brokers Dom Maklerski's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is X-Trade Brokers Dom Maklerski undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: XTB (PLN3.21) is trading below our estimate of fair value (PLN8.68)

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


Price To Earnings Ratio

PE vs Industry: XTB is poor value based on its PE Ratio (60.5x) compared to the Capital Markets industry average (23.1x).

PE vs Market: XTB is poor value based on its PE Ratio (60.5x) compared to the Polish market (10.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: XTB is good value based on its PB Ratio (0.9x) compared to the PL Capital Markets industry average (1.1x).


Next Steps

Future Growth

How is X-Trade Brokers Dom Maklerski forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

12.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: XTB's forecast earnings growth (12.5% per year) is above the savings rate (2.9%).

Earnings vs Market: XTB's earnings (12.5% per year) are forecast to grow faster than the Polish market (10.4% per year).

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

Revenue vs Market: Insufficient data to determine if XTB's revenue is forecast to grow faster than the Polish market.

High Growth Revenue: Insufficient data to determine if XTB's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if XTB's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has X-Trade Brokers Dom Maklerski performed over the past 5 years?

-1.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: XTB's earnings have declined by -1.8% per year over the past 5 years.

Accelerating Growth: XTB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: XTB had negative earnings growth (-96.2%) over the past year, making it difficult to compare to the Capital Markets industry average (-47.2%).


Return on Equity

High ROE: XTB's Return on Equity (1.4%) is considered low.


Return on Assets

ROA vs Industry: XTB's Return on Assets is below or equal to the Capital Markets industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate XTB's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is X-Trade Brokers Dom Maklerski'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: XTB has a low level of unsold assets or inventory.

Debt Coverage by Assets: XTB's debt is covered by short term assets (assets are 45.1x debt).


Financial Institutions Analysis

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

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

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

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

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

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


Next Steps

Dividend

What is X-Trade Brokers Dom Maklerski's current dividend yield, its reliability and sustainability?

16.20%

Current Dividend Yield


Dividend Yield vs Market

company16.2%marketbottom25%2.7%markettop25%7.3%industryaverage3.5%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: XTB's dividend (16.2%) is higher than the bottom 25% of dividend payers in the Polish market (2.73%).

High Dividend: XTB's dividend (16.2%) is in the top 25% of dividend payers in the Polish market (7.3%)

Stable Dividend: XTB has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: XTB's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (320.6%), XTB's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of X-Trade Brokers Dom Maklerski's salary, the management and board of directors tenure and is there insider trading?

2.6yrs

Average management tenure


CEO

Omar Arnaout 0

2.6yrs

Tenure

zł687,000

Compensation

Mr. Omar Arnaout serves as President of the Management Board and Chief Executive Officer at X-Trade Brokers Dom Maklerski S.A. since March 23, 2017. He served as a Vice President of the Management Board si ...


CEO Compensation Analysis

Compensation vs. Market: Omar's total compensation ($USD178.78K) is above average for companies of similar size in the Polish market ($USD0.00).

Compensation vs Earnings: Omar's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

2.6yrs

Average Tenure

Experienced Management: XTB's management team is considered experienced (2.6 years average tenure).


Board Age and Tenure

3.9yrs

Average Tenure

Experienced Board: XTB's board of directors are considered experienced (3.9 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

  • Pawel Szejko

    CFO & Member of the Management Board

    • Tenure: 5yrs
    • Compensation: zł551.00k
  • Omar Arnaout

    Chairman of the Management Board & CEO

    • Tenure: 2.6yrs
    • Compensation: zł687.00k
  • Filip Kaczmarzyk

    Director of Trading Department & Member of the Management Board

    • Tenure: 2.8yrs
    • Compensation: zł652.00k
  • Jakub Kubacki

    Member of the Management Board

    • Tenure: 1.3yrs
    • Compensation: zł158.00k
  • Andrzej Przybylski

    Member of Management Board

    • Tenure: 1.2yrs

Board Members

  • Grzegorz Grabowicz (46yo)

    Member of the Supervisory Board

    • Tenure: 0.9yrs
    • Compensation: zł6.00k
  • Jakub Leonkiewicz

    Chairman of the Supervisory Board

    • Tenure: 2.4yrs
    • Compensation: zł39.00k
  • Lukasz Baszczynski

    Member of the Supervisory Board

    • Tenure: 3.9yrs
    • Compensation: zł26.00k
  • Jaroslaw Jasik

    Member of the Supervisory Board

    • Tenure: 3.9yrs
    • Compensation: zł26.00k
  • Bartosz Zablocki

    Member of the Supervisory Board

    • Tenure: 4.1yrs
    • Compensation: zł26.00k

Company Information

X-Trade Brokers Dom Maklerski S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: X-Trade Brokers Dom Maklerski S.A.
  • Ticker: XTB
  • Exchange: WSE
  • Founded: 2002
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Market Cap: zł376.801m
  • Shares outstanding: 117.38m
  • Website: https://www.xtb.com/pl

Number of Employees


Location

  • X-Trade Brokers Dom Maklerski S.A.
  • Biurowiec A
  • VII pietro
  • Warsaw
  • 00-876
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
XTBWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNMay 2016

Biography

X-Trade Brokers Dom Maklerski S.A., together with its subsidiaries, provides currency derivatives, commodities, indices, stocks, and bonds brokerage services in Poland and internationally. It operates in t ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 21:46
End of Day Share Price2019/10/23 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.