WSE:IMC

Stock Analysis Report

Executive Summary

IMC S.A., together with its subsidiaries, operates as an integrated agricultural company in Ukraine and internationally.

Snowflake

Fundamentals

Flawless balance sheet and good value.

Share Price & News

How has IMC's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

3.4%

IMC

-0.2%

PL Food

1.2%

PL Market


1 Year Return

19.0%

IMC

-15.8%

PL Food

-3.7%

PL Market

Return vs Industry: IMC exceeded the Polish Food industry which returned -15.8% over the past year.

Return vs Market: IMC exceeded the Polish Market which returned -3.7% over the past year.


Shareholder returns

IMCIndustryMarket
7 Day3.4%-0.2%1.2%
30 Day-10.2%-4.2%-2.9%
90 Day-2.3%-12.8%-6.8%
1 Year33.8%19.0%-13.4%-15.8%-0.8%-3.7%
3 Year183.7%118.3%-21.4%-27.2%11.5%3.5%
5 Year184.6%119.0%31.1%15.2%-0.9%-12.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is IMC undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: IMC (PLN15) is trading below our estimate of fair value (PLN81.58)

Significantly Undervalued: IMC is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: IMC is good value based on its PE Ratio (4.1x) compared to the Food industry average (8.2x).

PE vs Market: IMC is good value based on its PE Ratio (4.1x) compared to the Polish market (9.9x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: IMC is overvalued based on its PB Ratio (0.8x) compared to the PL Food industry average (0.7x).


Next Steps

Future Growth

How is IMC forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-9.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: IMC's earnings are forecast to decline over the next 3 years (-9% per year).

Earnings vs Market: IMC's earnings are forecast to decline over the next 3 years (-9% per year).

High Growth Earnings: IMC's earnings are forecast to decline over the next 3 years.

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

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


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has IMC performed over the past 5 years?

52.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: IMC has become profitable over the past 5 years, growing earnings by 52.7% per year.

Accelerating Growth: IMC's earnings growth over the past year (165.5%) exceeds its 5-year average (52.7% per year).

Earnings vs Industry: IMC earnings growth over the past year (165.5%) exceeded the Food industry 30.1%.


Return on Equity

High ROE: IMC's Return on Equity (19.7%) is considered low.


Return on Assets

ROA vs Industry: IMC has a higher Return on Assets than the Food industry average last year.


Return on Capital Employed

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


Next Steps

Financial Health

How is IMC's financial position?


Financial Position Analysis

Short Term Liabilities: IMC's short term assets ($168.5M) exceeds its short term liabilities ($84.0M)

Long Term Liabilities: IMC's short term assets (168.5M) exceeds its long term liabilities (93.8M)


Debt to Equity History and Analysis

Debt Level: IMC's debt to equity ratio (34.3%) is considered satisfactory

Reducing Debt: IMC's debt to equity ratio has reduced from 139.3% to 34.3% over the past 5 years.

Debt Coverage: IMC's debt is well covered by operating cash flow (79.9%).

Interest Coverage: IMC's interest payments on its debt are well covered by EBIT (11x coverage).


Balance Sheet

Inventory Level: IMC has a high level of physical assets or inventory.

Debt Coverage by Assets: IMC's debt is covered by short term assets (assets are 3.132680x debt).


Next Steps

Dividend

What is IMC's current dividend yield, its reliability and sustainability?

9.57%

Current Dividend Yield


Dividend Yield vs Market

company9.6%marketbottom25%2.6%markettop25%7.2%industryaverage4.1%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: IMC's dividend (9.57%) is higher than the bottom 25% of dividend payers in the Polish market (2.56%).

High Dividend: IMC's dividend (9.57%) is in the top 25% of dividend payers in the Polish market (7.2%)

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

Growing Dividend: IMC's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.6%), IMC's dividend payments are 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 IMC's salary, the management and board of directors tenure and is there insider trading?

3.1yrs

Average management tenure


CEO

Alex Lissitsa (43yo)

0yrs

Tenure

0

Dr. Alex Lissitsa, Ph.D., serves as the Chief Executive Officer at Industrial Milk Company S.A. and has been its Executive Director since March 29, 2012. Dr. Lissitsa serves as the President of the Associa ...


Management Age and Tenure

3.1yrs

Average Tenure

Experienced Management: IMC's management team is considered experienced (3.1 years average tenure).


Board Age and Tenure

6.8yrs

Average Tenure

Experienced Board: IMC's board of directors are considered experienced (6.8 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

  • Alex Lissitsa (43yo)

    CEO, Director General & Executive Director

    • Tenure: 0yrs
  • Oleksandr Petrov

    Founder & Chairman

    • Tenure: 0yrs
  • Dmytro Martyniuk

    CFO & Executive Director

    • Tenure: 8.6yrs
  • Yulia Andrushkina

    Marketing & Investor Relations Director

    • Tenure: 0yrs
  • Iryna Kozenko

    • Tenure: 0yrs
  • Sergey Klimishyn

    Legal Director

    • Tenure: 4.2yrs
  • Evheniy Korneev

    Deputy Director General of Internal Control & Risk Management

    • Tenure: 3.1yrs
  • Oleksandr Verzhykhovskyi

    Chief Operating Officer

    • Tenure: 2.7yrs
  • Andriy Zagorulko

    Deputy Director General on Project Management

    • Tenure: 0yrs
  • Bohdan Kryvitskyi

    Chief Innovation Officer

    • Tenure: 0.8yrs

Board Members

  • Alex Lissitsa (43yo)

    CEO, Director General & Executive Director

    • Tenure: 0yrs
  • Oleksandr Petrov

    Founder & Chairman

    • Tenure: 0yrs
  • Dmytro Martyniuk

    CFO & Executive Director

    • Tenure: 8.6yrs
  • Alfons Balmann

    Non-Executive Director

    • Tenure: 6.1yrs
  • Kamil Gaworecki

    Non-Executive Director

    • Tenure: 3.3yrs

Company Information

IMC S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: IMC S.A.
  • Ticker: IMC
  • Exchange: WSE
  • Founded: 1998
  • Industry: Agricultural Products
  • Sector: Food, Beverage & Tobacco
  • Market Cap: zł497.670m
  • Shares outstanding: 33.18m
  • Website: https://www.imcagro.com.ua

Number of Employees


Location

  • IMC S.A.
  • 16 rue Erasme
  • Luxembourg City
  • 1468
  • Luxembourg

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IMCWSE (Warsaw Stock Exchange)YesOrdinary SharesPLPLNMay 2011
IM4BST (Boerse-Stuttgart)YesOrdinary SharesDEEURMay 2011
IM4DB (Deutsche Boerse AG)YesOrdinary SharesDEEURMay 2011

Biography

IMC S.A., together with its subsidiaries, operates as an integrated agricultural company in Ukraine and internationally. The company operates through three segments: Crop Farming; Dairy Farming; and Elevat ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 21:17
End of Day Share Price2019/10/16 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.