WSE:MRC

Stock Analysis Report

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Executive Summary

Mercator Medical S.A., together with its subsidiaries, produces medical gloves and distributes medical disposables in Europe and Russia. More Details


Snowflake Analysis

Flawless balance sheet and good value.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: MRC is more volatile than 75% of Polish stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: MRC's weekly volatility has decreased from 20% to 14% over the past year, but is still higher than 75% of Polish stocks.


Market Performance


7 Day Return

7.0%

MRC

3.8%

PL Medical Equipment

2.6%

PL Market


1 Year Return

5,737.6%

MRC

755.2%

PL Medical Equipment

-5.9%

PL Market

Return vs Industry: MRC exceeded the Polish Medical Equipment industry which returned 770.6% over the past year.

Return vs Market: MRC exceeded the Polish Market which returned -6.5% over the past year.


Shareholder returns

MRCIndustryMarket
7 Day7.0%3.8%2.6%
30 Day-25.6%-23.9%8.6%
90 Day39.8%25.1%1.6%
1 Year5,782.3%5,737.6%756.0%755.2%-5.1%-5.9%
3 Year2,798.8%2,776.8%229.1%226.9%-14.9%-20.2%
5 Year2,711.6%2,671.1%160.4%156.2%5.2%-6.6%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Mercator Medical 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: MRC (PLN460) is trading below our estimate of fair value (PLN6956.5)

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


Price To Earnings Ratio

PE vs Industry: MRC is good value based on its PE Ratio (8.3x) compared to the XE Medical Equipment industry average (42.6x).

PE vs Market: MRC is good value based on its PE Ratio (8.3x) compared to the Polish market (12.8x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: MRC is overvalued based on its PB Ratio (7.1x) compared to the PL Medical Equipment industry average (3.2x).


Next Steps

Future Growth

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

-0.9%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if MRC's forecast earnings growth is above the savings rate (2.9%).

Earnings vs Market: Insufficient data to determine if MRC's earnings are forecast to grow faster than the Polish market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MRC's revenue is expected to decline over the next 3 years (-0.9% per year).

High Growth Revenue: MRC's revenue is forecast to decline over the next 3 years (-0.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Mercator Medical performed over the past 5 years?

84.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MRC has high quality earnings.

Growing Profit Margin: MRC became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: MRC's earnings have grown significantly by 84% per year over the past 5 years.

Accelerating Growth: MRC has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: MRC has become profitable in the last year, making it difficult to compare its past year earnings growth to the Medical Equipment industry (-4.6%).


Return on Equity

High ROE: MRC's Return on Equity (85.4%) is considered outstanding.


Next Steps

Financial Health

How is Mercator Medical's financial position?


Financial Position Analysis

Short Term Liabilities: MRC's short term assets (PLN705.8M) exceed its short term liabilities (PLN202.6M).

Long Term Liabilities: MRC's short term assets (PLN705.8M) exceed its long term liabilities (PLN4.9M).


Debt to Equity History and Analysis

Debt Level: MRC's debt to equity ratio (0.09%) is considered satisfactory.

Reducing Debt: MRC's debt to equity ratio has reduced from 73.1% to 0.09% over the past 5 years.

Debt Coverage: MRC's debt is well covered by operating cash flow (89518.8%).

Interest Coverage: MRC's interest payments on its debt are well covered by EBIT (122x coverage).


Balance Sheet


Next Steps

Dividend

What is Mercator Medical current dividend yield, its reliability and sustainability?

0.11%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MRC's dividend (0.11%) isn’t notable compared to the bottom 25% of dividend payers in the Polish market (1.83%).

High Dividend: MRC's dividend (0.11%) is low compared to the top 25% of dividend payers in the Polish market (5.64%).


Stability and Growth of Payments

Stable Dividend: MRC is not paying a notable dividend for the Polish market, therefore no need to check if payments are stable.

Growing Dividend: MRC is not paying a notable dividend for the Polish market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

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


Future Payout to Shareholders

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


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure


CEO

Wieslaw Zyznowski (56 yo)

10.83yrs

Tenure

zł470,100

Compensation

Dr. Wieslaw Zyznowski has been the Chairman of Management Board at Mercator Medical Spólka Akcyjna since 2010. In the 90s Dr. Zyznowski co-founded the Mercator. From 1991 to 2001 he served as (apart from a...


CEO Compensation Analysis

Compensation vs Market: Wieslaw's total compensation ($USD125.08K) is below average for companies of similar size in the Polish market ($USD834.49K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Wieslaw Zyznowski
Chairman of Management Board10.83yrszł470.10k3.94%
PLN 181.2m
Witold Kruszewski
Vice-President of the Management Board & Financial Director1.83yrszł558.70k0.089%
PLN 4.1m
Dariusz Krezymon
Member of the Management Board1yrzł6.30k0.032%
PLN 1.5m

1.8yrs

Average Tenure

Experienced Management: MRC's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Jaroslaw Karasinski
Member of Supervisory Board6.42yrszł26.40kno data
Urszula Zyznowska
Chairwoman of Supervisory Board10.83yrszł50.40k0.16%
PLN 7.5m
Piotr Solorz
Vice Chairman of Supervisory Boardno datazł26.40k0.029%
PLN 1.4m
Marian Slowiaczek
Independent Member of Supervisory Board7.25yrszł26.40kno data
Gabriela Stolarczyk-Zadecka
Member of the Supervisory Boardno datazł50.20kno data

7.3yrs

Average Tenure

51yo

Average Age

Experienced Board: MRC's board of directors are considered experienced (7.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Mercator Medical S.A.
  • Ticker: MRC
  • Exchange: WSE
  • Founded: 1989
  • Industry: Health Care Supplies
  • Sector: Healthcare
  • Market Cap: zł4.596b
  • Shares outstanding: 10.59m
  • Website: https://mercatormedical.eu

Number of Employees


Location

  • Mercator Medical S.A.
  • Ul. H. Modrzejewskiej 30
  • Kraków
  • 31-327
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MRCWSE (Warsaw Stock Exchange)YesBearer SharesPLPLNJan 2014
0QJMLSE (London Stock Exchange)YesBearer SharesGBPLNJan 2014
MM2BST (Boerse-Stuttgart)YesBearer SharesDEEURJan 2014

Biography

Mercator Medical S.A., together with its subsidiaries, produces medical gloves and distributes medical disposables in Europe and Russia. The company offers surgical gloves for conducting invasive surgeries...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/26 18:07
End of Day Share Price2020/11/26 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.