Upcoming Dividend • Jun 24
Upcoming dividend of zł0.08 per share Eligible shareholders must have bought the stock before 01 July 2026. Payment date: 20 August 2026. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Polish dividend payers (7.1%). Higher than average of industry peers (2.5%). Reported Earnings • Jun 01
First quarter 2026 earnings released: EPS: zł0.046 (vs zł0.085 in 1Q 2025) First quarter 2026 results: EPS: zł0.046 (down from zł0.085 in 1Q 2025). Revenue: zł118.0m (down 3.8% from 1Q 2025). Net income: zł3.98m (down 47% from 1Q 2025). Profit margin: 3.4% (down from 6.1% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Declared Dividend • May 31
Dividend of zł0.08 announced Shareholders will receive a dividend of zł0.08. Ex-date: 1st July 2026 Payment date: 20th August 2026 Dividend yield will be 3.6%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is covered by both earnings (36% earnings payout ratio) and cash flows (58% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 60% to shift the payout ratio to a potentially unsustainable range, which is more than the 7.2% EPS decline seen over the last 5 years. Announcement • May 27
Dr. Miele Cosmed Group S.A., Annual General Meeting, Jun 25, 2026 Dr. Miele Cosmed Group S.A., Annual General Meeting, Jun 25, 2026, at 10:00 Central European Standard Time. Buy Or Sell Opportunity • Apr 30
Now 26% overvalued Over the last 90 days, the stock has fallen 14% to zł2.40. The fair value is estimated to be zł1.90, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.1% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Apr 22
Full year 2025 earnings released: EPS: zł0.23 (vs zł0.41 in FY 2024) Full year 2025 results: EPS: zł0.23 (down from zł0.41 in FY 2024). Revenue: zł504.2m (up 3.2% from FY 2024). Net income: zł19.7m (down 45% from FY 2024). Profit margin: 3.9% (down from 7.4% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. New Risk • Nov 07
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.8% Last year net profit margin: 7.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.8% net profit margin). Market cap is less than US$100m (zł277.7m market cap, or US$75.6m). Reported Earnings • Nov 07
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: zł131.6m (flat on 3Q 2024). Net income: zł5.78m (down 52% from 3Q 2024). Profit margin: 4.4% (down from 9.2% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Nov 06
Dr. Miele Cosmed Group S.A. to Report Q3, 2025 Results on Nov 06, 2025 Dr. Miele Cosmed Group S.A. announced that they will report Q3, 2025 results on Nov 06, 2025 Reported Earnings • Sep 19
Second quarter 2025 earnings released: EPS: zł0.05 (vs zł0.12 in 2Q 2024) Second quarter 2025 results: EPS: zł0.05 (down from zł0.12 in 2Q 2024). Revenue: zł126.4m (up 1.9% from 2Q 2024). Net income: zł4.19m (down 60% from 2Q 2024). Profit margin: 3.3% (down from 8.4% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 24
Upcoming dividend of zł0.15 per share Eligible shareholders must have bought the stock before 01 July 2025. Payment date: 18 September 2025. Payout ratio is a comfortable 22% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Polish dividend payers (7.2%). In line with average of industry peers (2.3%). New Risk • Jun 01
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (zł327.5m market cap, or US$87.5m). Declared Dividend • May 28
Dividend increased to zł0.15 Dividend of zł0.15 is 67% higher than last year. Ex-date: 1st July 2025 Payment date: 18th September 2025 Dividend yield will be 3.9%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 39% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 23
First quarter 2025 earnings released: EPS: zł0.09 (vs zł0.076 in 1Q 2024) First quarter 2025 results: EPS: zł0.09 (up from zł0.076 in 1Q 2024). Revenue: zł122.7m (up 9.5% from 1Q 2024). Net income: zł7.45m (up 12% from 1Q 2024). Profit margin: 6.1% (up from 5.9% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 20
Full year 2024 earnings released: EPS: zł0.41 (vs zł0.25 in FY 2023) Full year 2024 results: EPS: zł0.41 (up from zł0.25 in FY 2023). Revenue: zł488.4m (up 9.9% from FY 2023). Net income: zł36.0m (up 62% from FY 2023). Profit margin: 7.4% (up from 5.0% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. New Risk • Feb 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł397.4m (US$99.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to zł5.30, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 24x in the Personal Products industry in Europe. Total returns to shareholders of 20% over the past three years. New Risk • Nov 29
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: zł405.3m (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (zł405.3m market cap, or US$99.6m). Reported Earnings • Nov 10
Third quarter 2024 earnings released: EPS: zł0.14 (vs zł0.097 in 3Q 2023) Third quarter 2024 results: EPS: zł0.14 (up from zł0.097 in 3Q 2023). Revenue: zł131.9m (up 12% from 3Q 2023). Net income: zł12.1m (up 43% from 3Q 2023). Profit margin: 9.2% (up from 7.2% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to zł4.51, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 21x in the Personal Products industry in Europe. Total returns to shareholders of 13% over the past three years. New Risk • Sep 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Polish stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 20
Second quarter 2024 earnings released: EPS: zł0.12 (vs zł0.06 in 2Q 2023) Second quarter 2024 results: EPS: zł0.12 (up from zł0.06 in 2Q 2023). Revenue: zł124.1m (up 14% from 2Q 2023). Net income: zł10.4m (up 99% from 2Q 2023). Profit margin: 8.4% (up from 4.8% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 25
Upcoming dividend of zł0.09 per share Eligible shareholders must have bought the stock before 02 July 2024. Payment date: 19 September 2024. Trailing yield: 2.6%. Lower than top quartile of Polish dividend payers (7.7%). Higher than average of industry peers (2.0%). Announcement • May 31
Dr. Miele Cosmed Group S.A., Annual General Meeting, Jun 25, 2024 Dr. Miele Cosmed Group S.A., Annual General Meeting, Jun 25, 2024. New Risk • May 29
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.7% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (zł286.5m market cap, or US$73.0m). New Risk • May 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (8.0% increase in shares outstanding). Market cap is less than US$100m (zł331.2m market cap, or US$82.4m). Reported Earnings • May 02
Full year 2023 earnings released: EPS: zł0.25 (vs zł0.026 loss in FY 2022) Full year 2023 results: EPS: zł0.25 (up from zł0.026 loss in FY 2022). Revenue: zł444.5m (up 12% from FY 2022). Net income: zł22.2m (up zł24.5m from FY 2022). Profit margin: 5.0% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to zł3.23, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 22x in the Personal Products industry in Europe. Total loss to shareholders of 31% over the past three years. Reported Earnings • Nov 12
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: zł117.7m (up 5.9% from 3Q 2022). Net income: zł8.50m (up 170% from 3Q 2022). Profit margin: 7.2% (up from 2.8% in 3Q 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to zł3.48, the stock trades at a trailing P/E ratio of 57.6x. Average trailing P/E is 27x in the Personal Products industry in Europe. Total loss to shareholders of 28% over the past three years. Reported Earnings • Sep 20
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: zł108.9m (up 13% from 2Q 2022). Net income: zł5.22m (up zł5.44m from 2Q 2022). Profit margin: 4.8% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 49 percentage points per year, which is a significant difference in performance. New Risk • Jul 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Polish stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Market cap is less than US$100m (zł240.2m market cap, or US$59.9m). Reported Earnings • Jun 05
First quarter 2023 earnings released First quarter 2023 results: Revenue: zł102.9m (up 20% from 1Q 2022). Net income: zł1.75m (up zł2.11m from 1Q 2022). Profit margin: 1.7% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Announcement • May 31
Global Cosmed S.A., Annual General Meeting, Jun 27, 2023 Global Cosmed S.A., Annual General Meeting, Jun 27, 2023, at 11:00 Central European Standard Time. Reported Earnings • Nov 19
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: zł111.1m (up 26% from 3Q 2021). Net income: zł3.15m (down 15% from 3Q 2021). Profit margin: 2.8% (down from 4.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 18% per year. Reported Earnings • Sep 21
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: zł96.1m (up 14% from 2Q 2021). Net loss: zł220.0k (down 112% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 02
First quarter 2022 earnings released First quarter 2022 results: Revenue: zł86.1m (flat on 1Q 2021). Net loss: zł359.0k (down 108% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 21
Full year 2021 earnings released: EPS: zł0.13 (vs zł0.33 in FY 2020) Full year 2021 results: EPS: zł0.13 (down from zł0.33 in FY 2020). Revenue: zł351.9m (down 3.5% from FY 2020). Net income: zł11.6m (down 60% from FY 2020). Profit margin: 3.3% (down from 7.8% in FY 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 20% share price decline to zł3.00, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 24x in the Personal Products industry in Europe. Total returns to shareholders of 60% over the past three years. Reported Earnings • Nov 10
Third quarter 2021 earnings released The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: zł88.5m (down 3.0% from 3Q 2020). Net income: zł3.73m (down 35% from 3Q 2020). Profit margin: 4.2% (down from 6.2% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 138% per year but the company’s share price has only increased by 89% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 15
Second quarter 2021 earnings released The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: zł84.5m (down 7.3% from 2Q 2020). Net income: zł1.86m (down 79% from 2Q 2020). Profit margin: 2.2% (down from 9.8% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 148% per year but the company’s share price has only increased by 53% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment improved over the past week After last week's 15% share price gain to zł4.56, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 26x in the Personal Products industry in Europe. Total returns to shareholders of 292% over the past three years. Upcoming Dividend • Jun 22
Upcoming dividend of zł0.12 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 20 September 2021. Trailing yield: 3.0%. Lower than top quartile of Polish dividend payers (5.9%). Higher than average of industry peers (1.9%). Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment deteriorated over the past week After last week's 19% share price decline to zł4.70, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 23x in the Personal Products industry in Poland. Total returns to shareholders of 146% over the past three years. Is New 90 Day High Low • Feb 22
New 90-day high: zł5.35 The company is up 16% from its price of zł4.60 on 24 November 2020. The Polish market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Personal Products industry, which is up 5.0% over the same period. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 16% share price gain to zł5.15, the stock is trading at a trailing P/E ratio of 22.9x, up from the previous P/E ratio of 19.8x. This compares to an average P/E of 22x in the Personal Products industry in Poland. Total returns to shareholders over the past three years are 171%. Is New 90 Day High Low • Dec 04
New 90-day low: zł4.12 The company is down 17% from its price of zł4.98 on 04 September 2020. The Polish market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Personal Products industry, which is down 18% over the same period. Valuation Update With 7 Day Price Move • Nov 10
Market pulls back on stock over the past week After last week's 20% share price decline to zł5.10, the stock is trading at a trailing P/E ratio of 29.6x, down from the previous P/E ratio of 36.9x. This compares to an average P/E of 16x in the Personal Products industry in Poland. Total returns to shareholders over the past three years are 98%. Valuation Update With 7 Day Price Move • Oct 29
Market pulls back on stock over the past week After last week's 22% share price decline to zł5.20, the stock is trading at a trailing P/E ratio of 30.2x, down from the previous P/E ratio of 38.9x. This compares to an average P/E of 17x in the Personal Products industry in Poland. Total returns to shareholders over the past three years are 77%.