WSE:TAR

Stock Analysis Report

Executive Summary

Tarczynski S.A. produces, distributes, and sells meat and cold meat products in Poland.

Snowflake

Fundamentals

Proven track record and fair value.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-3.8%

TAR

0.2%

PL Food

1.5%

PL Market


1 Year Return

-3.4%

TAR

-13.8%

PL Food

0.4%

PL Market

Return vs Industry: TAR exceeded the Polish Food industry which returned -13.8% over the past year.

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


Shareholder returns

TARIndustryMarket
7 Day-3.8%0.2%1.5%
30 Day-3.1%-3.9%1.3%
90 Day-9.4%-11.0%-5.0%
1 Year-0.1%-3.4%-11.3%-13.8%3.5%0.4%
3 Year29.6%18.5%-22.8%-28.5%12.7%4.6%
5 Year76.6%54.0%27.5%11.9%0.5%-11.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

4.72x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TAR (PLN15.4) is trading above our estimate of fair value (PLN2.92)

Significantly Below Fair Value: TAR is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TAR is good value based on its PE Ratio (4.7x) compared to the Food industry average (8.1x).

PE vs Market: TAR is good value based on its PE Ratio (4.7x) compared to the Polish market (10.1x).


Price to Earnings Growth Ratio

PEG Ratio: TAR is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: TAR is overvalued based on its PB Ratio (0.9x) compared to the PL Food industry average (0.8x).


Next Steps

Future Growth

How is Tarczynski forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

5.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TAR's forecast earnings growth (5.3% per year) is above the savings rate (2.9%).

Earnings vs Market: TAR's earnings (5.3% per year) are forecast to grow slower than the Polish market (10.4% per year).

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

Revenue vs Market: TAR's revenue (5.6% per year) is forecast to grow slower than the Polish market (5.7% per year).

High Growth Revenue: TAR's revenue (5.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TAR's Return on Equity is forecast to be low in 3 years time (14%).


Next Steps

Past Performance

How has Tarczynski performed over the past 5 years?

18.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: TAR's earnings have grown by 18.2% per year over the past 5 years.

Accelerating Growth: TAR's earnings growth over the past year (131.7%) exceeds its 5-year average (18.2% per year).

Earnings vs Industry: TAR earnings growth over the past year (131.7%) exceeded the Food industry 50.2%.


Return on Equity

High ROE: TAR's Return on Equity (19.6%) is considered low.


Return on Assets

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


Return on Capital Employed

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


Next Steps

Financial Health

How is Tarczynski's financial position?


Financial Position Analysis

Short Term Liabilities: TAR's short term assets (PLN190.6M) do not cover its short term liabilities (PLN193.4M)

Long Term Liabilities: TAR's short term assets (190.6M) do not cover its long term liabilities (249.1M)


Debt to Equity History and Analysis

Debt Level: TAR's debt to equity ratio (121.1%) is considered high

Reducing Debt: TAR's debt to equity ratio has increased from 115% to 121.1% over the past 5 years.

Debt Coverage: TAR's debt is not well covered by operating cash flow (5%).

Interest Coverage: TAR's interest payments on its debt are well covered by EBIT (5.5x coverage).


Balance Sheet

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

Debt Coverage by Assets: TAR's debt is not covered by short term assets (assets are 0.8x debt).


Next Steps

Dividend

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

1.08%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%2.7%markettop25%7.3%industryaverage4.0%forecastin3Years1.1%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate TAR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate TAR's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if TAR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TAR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: TAR is not paying a notable dividend for the Polish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TAR's dividend in 3 years as they are not forecast to pay a notable one for the Polish market.


Next Steps

Management

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

8.8yrs

Average management tenure


CEO

Jacek Tarczynski 0

20.8yrs

Tenure

0

Mr. Jacek Tarczynski has been the President of the Management Board at Tarczynski S.A. since 1999 and serves as its Member of The Management Board. Mr. Tarczynski served as General Manager of Zakad Przetwó ...


Management Age and Tenure

8.8yrs

Average Tenure

Experienced Management: TAR's management team is seasoned and experienced (8.8 years average tenure).


Board Age and Tenure

3.8yrs

Average Tenure

Experienced Board: TAR's board of directors are considered experienced (3.8 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

  • Jacek Tarczynski

    President of the Management Board

    • Tenure: 20.8yrs
  • Radoslaw Chmurak

    Vice President of the Management Board and Sales & Marketing Director

    • Tenure: 8.8yrs
  • Edmund Bienkiewicz

    Chairman of the Supervisory Board & Deputy Administration Director

    • Tenure: 14.8yrs
  • Dawid Tarczynski

    Vice President of the Management Board

    • Tenure: 0yrs
  • Dariusz Swierczynski

    Vice President of the Management Board

    • Tenure: 0.5yrs

Board Members

  • Krzysztof Wachowski

    Member of the Supervisory Board

    • Tenure: 1.8yrs
  • Elzbieta Tarczynska

    Deputy Chairman of the Supervisory Board

    • Tenure: 14.8yrs
  • Edmund Bienkiewicz

    Chairman of the Supervisory Board & Deputy Administration Director

    • Tenure: 14.8yrs
  • Piotr Lyskawa

    Member of the Supervisory Board

    • Tenure: 5.8yrs
  • Jacek Osowski

    Member of the Supervisory Board

    • Tenure: 1.8yrs
  • Tadeusz Trziszka

    Member of the Supervisory Board

    • Tenure: 1.8yrs

Company Information

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


Key Information

  • Name: Tarczynski S.A.
  • Ticker: TAR
  • Exchange: WSE
  • Founded: 1989
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Market Cap: zł174.743m
  • Shares outstanding: 11.35m
  • Website: https://www.tarczynski.pl

Location

  • Tarczynski S.A.
  • Ujezdziec Maly 80
  • Trzebnica
  • 55-100
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TARWSE (Warsaw Stock Exchange)YesBearer SharesPLPLNJul 2013

Biography

Tarczynski S.A. produces, distributes, and sells meat and cold meat products in Poland. It offers kabanos sausages, frankfurters, dried products, products for children, poultry cold cuts, chicken fillets a ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 21:24
End of Day Share Price2019/10/21 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.