Cognor Holding
Cognor Holding S.A. produces and distributes steel products, steel billets, colored scrap products, and other products in Poland. The last earnings update was 115 days ago. More info.
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COG Share Price and Events
7 Day Returns
1 Year Returns
COG Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Cognor Holding (COG) | 5.9% | 10.1% | 5.9% | 23.9% | 103.1% | 8.8% |
| PL Metals and Mining | 0.7% | 3.7% | 1.8% | -19.8% | 55.1% | -3% |
| PL Market | 0.7% | -0.2% | 6.3% | -5.7% | 19% | -6.6% |
1 Year Return vs Industry and Market
- COG outperformed the Metals and Mining industry which returned -19.8% over the past year.
- COG outperformed the Market in Poland which returned -5.7% over the past year.
Value
Is Cognor Holding undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Cognor Holding
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Cognor Holding.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 1 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 15.7% |
| Perpetual Growth Rate | 10-Year PL Government Bond Rate | 2.9% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year PL Govt Bond Rate | 2.9% |
| Equity Risk Premium | S&P Global | 7.2% |
| Metals and Mining Unlevered Beta | Simply Wall St/ S&P Global | 0.84 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.84 (1 + (1- 19%) (139.73%)) |
1.792 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.79 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.792 * 7.15%) |
15.66% |
Discounted Cash Flow Calculation for WSE:COG using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Cognor Holding is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Levered FCF (PLN, Millions) | 24.10 | 26.05 | 28.15 | 30.43 | 32.88 |
| Source | Est @ 8.07% | Est @ 8.07% | Est @ 8.07% | Est @ 8.07% | Est @ 8.07% |
|
Present Value Discounted (@ 15.66%) |
20.84 | 19.47 | 18.20 | 17.00 | 15.89 |
| Present value of next 5 years cash flows | PLN91.40 |
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= PLN32.88 × (1 + 2.85%) ÷ (15.66% – 2.85%) |
PLN264.02 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= PLN264.02 ÷ (1 + 15.66%)5 |
PLN127.56 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= PLN91.40 + PLN127.56 |
PLN218.96 |
| Equity Value per Share (PLN) |
= Total value / Shares Outstanding
= PLN218.96 / 120.42 |
PLN1.82 |
| Calculation | Result | |
|---|---|---|
| Value per share (PLN) | From above. | PLN1.82 |
| Current discount | Discount to share price of
PLN1.97
= -1 x (PLN1.97 - PLN1.82) / PLN1.82 |
-8.3% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Cognor Holding is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Cognor Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Cognor Holding's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-09-30) in PLN | PLN0.81 |
| WSE:COG Share Price ** | WSE (2019-02-22) in PLN | PLN1.97 |
| Poland Metals and Mining Industry PE Ratio | Median Figure of 15 Publicly-Listed Metals and Mining Companies | 6.56x |
| Poland Market PE Ratio | Median Figure of 464 Publicly-Listed Companies | 10.71x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Cognor Holding.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = WSE:COG Share Price ÷ EPS (both in PLN) = 1.97 ÷ 0.81 |
2.43x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Cognor Holding is good value based on earnings compared to the PL Metals and Mining industry average.
- Cognor Holding is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does
Cognor Holding's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 2.43x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts |
-9.6%per year |
| Poland Metals and Mining Industry PEG Ratio | Median Figure of 7 Publicly-Listed Metals and Mining Companies | 1.16x |
| Poland Market PEG Ratio | Median Figure of 101 Publicly-Listed Companies | 1.16x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Cognor Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Cognor Holding's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-09-30) in PLN | PLN2.38 |
| WSE:COG Share Price * | WSE (2019-02-22) in PLN | PLN1.97 |
| Poland Metals and Mining Industry PB Ratio | Median Figure of 19 Publicly-Listed Metals and Mining Companies | 0.93x |
| Poland Market PB Ratio | Median Figure of 689 Publicly-Listed Companies | 1.01x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = WSE:COG Share Price ÷ Book Value per Share (both in PLN) = 1.97 ÷ 2.38 |
0.83x |
* Primary Listing of Cognor Holding.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Cognor Holding is good value based on assets compared to the PL Metals and Mining industry average.
Value checks
We assess Cognor Holding's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Metals and Mining industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check) Cognor Holding has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
- No analysts cover Cognor Holding, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Cognor Holding's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.9%.
Growth vs Market Checks
- Cognor Holding's earnings are expected to decrease over the next 1-3 years, this is below the Poland market average.
- Cognor Holding's revenues are expected to decrease over the next 1-3 years, this is below the Poland market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| WSE:COG Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts | -9.6% |
| WSE:COG Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts | -0.8% |
| Poland Metals and Mining Industry Earnings Growth Rate | Market Cap Weighted Average | 6.5% |
| Poland Metals and Mining Industry Revenue Growth Rate | Market Cap Weighted Average | 1.4% |
| Poland Market Earnings Growth Rate | Market Cap Weighted Average | 10% |
| Poland Market Revenue Growth Rate | Market Cap Weighted Average | 6.7% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 1 Analyst Estimates (S&P Global) | See Below |
| Date (Data in PLN Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2019-12-31 | 2,037 | 1 | ||
| 2018-12-31 | 2,057 | 1 |
| Date (Data in PLN Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-09-30 | 2,055 | 116 | 90 |
| 2018-06-30 | 1,999 | 149 | 53 |
| 2018-03-31 | 1,875 | 143 | 43 |
| 2017-12-31 | 1,789 | 145 | 48 |
| 2017-09-30 | 1,688 | 166 | 30 |
| 2017-06-30 | 1,502 | 105 | 46 |
| 2017-03-31 | 1,460 | 97 | 39 |
| 2016-12-31 | 1,377 | 94 | 4 |
| 2016-09-30 | 1,334 | 156 | 4 |
| 2016-06-30 | 1,366 | 155 | -21 |
| 2016-03-31 | 1,350 | 134 | -28 |
| 2015-12-31 | 1,366 | 98 | -14 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 1 Analyst Estimates (S&P Global) | See Below |
All data from Cognor Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in PLN Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2019-12-31 | ||||
| 2018-12-31 |
| Date (Data in PLN Millions) | EPS * |
|---|---|
| 2018-09-30 | 0.81 |
| 2018-06-30 | 0.53 |
| 2018-03-31 | 0.48 |
| 2017-12-31 | 0.60 |
| 2017-09-30 | 0.39 |
| 2017-06-30 | 0.62 |
| 2017-03-31 | 0.54 |
| 2016-12-31 | 0.06 |
| 2016-09-30 | 0.06 |
| 2016-06-30 | -0.31 |
| 2016-03-31 | -0.41 |
| 2015-12-31 | -0.20 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Cognor Holding will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Cognor Holding's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Poland market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Poland market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Cognor Holding has a total score of 0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Cognor Holding performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Cognor Holding has delivered over 20% year on year earnings growth in the past 5 years.
- Cognor Holding's 1-year earnings growth exceeds its 5-year average (205% vs 70.9%)
- Cognor Holding's earnings growth has exceeded the PL Metals and Mining industry average in the past year (205% vs 13.8%).
Earnings and Revenue History
All data from Cognor Holding Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in PLN Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-09-30 | 2,054.80 | 90.46 | 124.88 | |
| 2018-06-30 | 1,999.27 | 53.25 | 123.76 | |
| 2018-03-31 | 1,874.79 | 43.36 | 119.16 | |
| 2017-12-31 | 1,789.28 | 47.60 | 117.34 | |
| 2017-09-30 | 1,687.51 | 29.65 | 109.93 | |
| 2017-06-30 | 1,502.11 | 45.63 | 101.29 | |
| 2017-03-31 | 1,460.41 | 39.00 | 97.34 | |
| 2016-12-31 | 1,377.35 | 4.01 | 91.30 | |
| 2016-09-30 | 1,334.01 | 4.23 | 84.76 | |
| 2016-06-30 | 1,366.05 | -21.27 | 83.26 | |
| 2016-03-31 | 1,349.69 | -27.71 | 81.38 | |
| 2015-12-31 | 1,365.76 | -13.56 | 84.90 | |
| 2015-09-30 | 1,402.02 | -15.30 | 83.98 | |
| 2015-06-30 | 1,427.20 | -6.34 | 86.44 | |
| 2015-03-31 | 1,441.99 | 5.32 | 83.98 | |
| 2014-12-31 | 1,422.55 | 4.08 | 81.78 | |
| 2014-09-30 | 1,415.38 | -3.49 | 81.55 | |
| 2014-06-30 | 1,391.45 | 3.15 | 77.81 | |
| 2014-03-31 | 1,361.20 | -17.76 | 78.08 | |
| 2013-12-31 | 1,294.27 | -48.57 | 74.74 | |
| 2013-09-30 | 1,225.29 | -51.59 | 63.54 | |
| 2013-06-30 | 1,193.59 | -51.31 | 59.73 | |
| 2013-03-31 | 1,284.66 | -39.51 | 64.37 | |
| 2012-12-31 | 1,399.67 | -0.44 | 68.64 | |
| 2012-09-30 | 1,560.81 | 4.33 | 83.94 | |
| 2012-06-30 | 1,650.97 | -10.68 | 91.33 | |
| 2012-03-31 | 1,620.86 | 41.66 | 86.04 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Whilst Cognor Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
- Cognor Holding used its assets more efficiently than the PL Metals and Mining industry average last year based on Return on Assets.
- Cognor Holding has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Cognor Holding's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Cognor Holding has a total score of 5/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Cognor Holding's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Cognor Holding's finances.
The net worth of a company is the difference between its assets and liabilities.
- Cognor Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Cognor Holding's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Cognor Holding Company Filings, last reported 4 months ago.
| Date (Data in PLN Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-09-30 | 303.05 | 331.48 | 40.67 |
| 2018-06-30 | 270.94 | 438.62 | 101.46 |
| 2018-03-31 | 254.23 | 414.20 | 96.89 |
| 2017-12-31 | 241.83 | 427.13 | 102.06 |
| 2017-09-30 | 179.29 | 453.77 | 87.43 |
| 2017-06-30 | 186.21 | 459.88 | 41.62 |
| 2017-03-31 | 184.04 | 448.97 | 27.23 |
| 2016-12-31 | 160.30 | 478.31 | 25.19 |
| 2016-09-30 | 169.21 | 456.10 | 29.26 |
| 2016-06-30 | 159.97 | 450.37 | 25.10 |
| 2016-03-31 | 159.68 | 436.42 | 27.42 |
| 2015-12-31 | 170.54 | 454.68 | 37.43 |
| 2015-09-30 | 169.36 | 515.88 | 18.77 |
| 2015-06-30 | 186.56 | 508.26 | 25.39 |
| 2015-03-31 | 193.71 | 492.87 | 26.10 |
| 2014-12-31 | 187.29 | 503.27 | 39.74 |
| 2014-09-30 | 223.12 | 485.08 | 56.52 |
| 2014-06-30 | 228.81 | 495.83 | 50.15 |
| 2014-03-31 | 215.91 | 474.94 | 24.32 |
| 2013-12-31 | 129.13 | 569.58 | 19.97 |
| 2013-09-30 | 137.77 | 544.50 | 36.20 |
| 2013-06-30 | 136.27 | 585.85 | 53.05 |
| 2013-03-31 | 152.21 | 575.28 | 49.19 |
| 2012-12-31 | 176.84 | 577.85 | 69.28 |
| 2012-09-30 | 188.49 | 571.64 | 52.61 |
| 2012-06-30 | 187.14 | 587.79 | 88.21 |
| 2012-03-31 | 190.71 | 577.57 | 57.51 |
- Cognor Holding's level of debt (109.4%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (395.7% vs 109.4% today).
- Debt is well covered by operating cash flow (35.1%, greater than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
Financial health checks
We assess Cognor Holding's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Cognor Holding has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Cognor Holding's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
PLN2,000 of
Cognor Holding
shares you are expected to receive
PLN102
in your first year as a dividend.
Dividend Amount
- Cognor Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.55%).
- Cognor Holding's dividend is below the markets top 25% of dividend payers in Poland (7.77%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 1 Analyst Estimates (S&P Global) | See Below |
| Poland Metals and Mining Industry Average Dividend Yield | Market Cap Weighted Average of 11 Stocks | 2% |
| Poland Market Average Dividend Yield | Market Cap Weighted Average of 209 Stocks | 3.3% |
| Poland Minimum Threshold Dividend Yield | 10th Percentile | 1.4% |
| Poland Bottom 25% Dividend Yield | 25th Percentile | 2.6% |
| Poland Top 25% Dividend Yield | 75th Percentile | 7.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in PLN) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2019-12-31 | ||
| 2018-12-31 |
| Date (Data in PLN) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-03-19 | 0.100 | 5.656 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- It is too early to tell whether Cognor Holding has stable dividend payments.
- Cognor Holding only just started paying a dividend, it is too early to tell if payments are increasing.
Income/ dividend checks
We assess Cognor Holding's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.4%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Cognor Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Cognor Holding has a total score of 2/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | PLN2,580,000 |
| TENURE AS CEO | 8 years |
CEO Bio
Mr. Przemyslaw Sztuczkowski has been the Chief Executive Officer at Cognor Holding S.A. since February 18, 2011 and has been its President of Management Board since March 13, 2011. Mr. Sztuczkowski has been the President and Member of Management Board at Zlomrex S.A since 2002. Mr. Sztuczkowski serves as General Director of Zlomrex International Finance S.A. He has been a Private entrepreneur, operated "Zlomrex" Secondary Materials Turnover (at present: "Knowledge and Work" Company) since 1990. He serves as the Chairman of Supervisory Board at Huta Stali Jakosciowych Spólka Akcyjna. He has been a Member of the Board at Zlomrex Finance Ltd. since 2003. He serves as a Director at Zlomrex International Finance S.A. and Zlomrex Steel Services S.A. He serves as a Member of Supervisory Board at Zlomrex Metal sp. z o.o. He served as the Chairman of Supervisory Board of Cognor SA until March 2011. Mr. Sztuczkowski has got secondary education, he graduated from the Tourism Management College and specialized as a tourism management technician.
CEO Compensation
- Przemyslaw's compensation has been consistent with company performance over the past year.
- Przemyslaw's remuneration is higher than average for companies of similar size in Poland.
Management Team
Przemyslaw Sztuczkowski
President of Management Board & CEO
PLN3M
8 yrs
Przemyslaw Grzesiak
Vice President of Management Board
PLN2M
7.1 yrs
Krzysztof Zola
CFO & Member of Management Board
PLN456K
46
Dominik Barszcz
Chief Accounting Officer & Member of Management Board
PLN374K
42
Zbigniew Lapinski
Secretary of the Supervisory Board & Member of Supervisory Board
PLN72K
51
Board of Directors Tenure
Average tenure and age of the Cognor Holding board of directors in years:
- The tenure for the Cognor Holding board of directors is about average.
Board of Directors
Hubert Janiszewski
Chairman of the Supervisory Board
PLN90K
74
Piotr Freyberg
Vice Chairman of the Supervisory Board
PLN72K
76
Zbigniew Lapinski
Secretary of the Supervisory Board & Member of Supervisory Board
PLN72K
51
13.7 yrs
Marek Rocki
Member of Supervisory Board
PLN72K
63
7.9 yrs
Jerzy Kak
Member of Supervisory Board
PLN72K
7.9 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (PLN) | Value (PLN) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Cognor Holding's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Cognor Holding has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Does Cognor Holding S.A. (WSE:COG) Have A Particularly Volatile Share Price?
Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.
Simply Wall St - – Full articleWhy Cognor Holding S.A. (WSE:COG) Could Have A Place In Your Portfolio
As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook.
Simply Wall St - – Full articleDo Institutions Own Cognor Holding S.A. (WSE:COG) Shares?
If you want to know who really controls Cognor Holding S.A. … With a market capitalization of zł193m, Cognor Holding is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for Cognor Holding
Simply Wall St - – Full articleDo You Know What Cognor Holding S.A.'s (WSE:COG) P/E Ratio Means?
We'll look at Cognor Holding S.A.'s (WSE:COG) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Cognor Holding's P/E ratio is 2.12. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleWhat does Cognor Holding SA's (WSE:COG) Balance Sheet Tell Us About Its Future?
However, an important fact which most ignore is: how financially healthy is the business? … Assessing first and foremost the financial health is. … Here are few basic financial health checks you should consider before taking the plunge.
Simply Wall St - – Full articleLooking At Cognor Holding SA (WSE:COG) From All Angles
By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of Cognor Holding SA (WSE:COG), it. … is a company that has been able to sustain great financial health, trading at an attractive share price.
Simply Wall St - – Full articleDoes Cognor Holding SA (WSE:COG) Go Up With The Market?
If you're interested in Cognor Holding SA (WSE:COG), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.
Simply Wall St - – Full articleWho Are The Major Shareholders In Cognor Holding SA (WSE:COG)?
I am going to take a deep dive into Cognor Holding SA’s (WSE:COG) most recent ownership structure, not a frequent subject of discussion among individual investors. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … WSE:COG Ownership Summary July 30th 18
Simply Wall St - – Full articleIs Cognor Holding SA (WSE:COG) A Great Dividend Stock?
Cognor Holding SA (WSE:COG) has returned an average dividend yield of 6.00% annually to shareholders. … Let's dig deeper into whether Cognor Holding should have a place in your portfolio. … View out our latest analysis for Cognor Holding
Simply Wall St - – Full articleShould You Be Tempted To Sell Cognor Holding SA (WSE:COG) Because Of Its PE Ratio?
considerably lower than the 9.83x average multiple of the Metals and Mining? … But should the inexpensive multiple be the final verdict of COG’s undervaluation. … In this article, I am going to take you through some key things to consider in order to identify which multiple is the most relevant for
Simply Wall St - – Full articleCompany Info
Map
Description
Cognor Holding S.A. produces and distributes steel products, steel billets, colored scrap products, and other products in Poland. It offers flat plates and bars, slabs, round and square bars, reinforcing bars, T-profiles, equal and unequal side angles, steel billets with rounded edger for forgings, metal sheets, carbon and medium-alloy steels, and high-alloy and special steels. Cognor Holding S.A. also engages in the purchasing, processing, treatment, and sale of steel scrap; and the processing of steel scrap into billets, as well as billets into steel products. It also exports its products primarily to Germany. The company was formerly known as Cognor S A and changed its name to Cognor Holding S.A. in November 2016. Cognor Holding S.A. was founded in 1946 and is based in Poraj, Poland. Cognor Holding S.A. is a subsidiary of PS HoldCo Sp. z o.o.
Details
| Name: | Cognor Holding S.A. |
| COG | |
| Exchange: | WSE |
| Founded: | 1946 |
| PLN237,221,769 | |
| 120,417,142 | |
| Website: | http://www.cognor.eu |
| Address: |
Cognor Holding S.A. ul. Zielona 26, Poraj, 42-360, Poland |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| WSE | COG | Ordinary Shares | Warsaw Stock Exchange | PL | PLN | 17. Apr 1997 | |
| LSE | 0LSA | Ordinary Shares | London Stock Exchange | GB | PLN | 17. Apr 1997 |
Number of employees
Current staff
Industry
| Steel | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/02/23 20:37 |
| End of day share price update: | 2019/02/22 00:00 |
| Last estimates confirmation: | 2019/01/30 |
| Last earnings filing: | 2018/10/31 |
| Last earnings reported: | 2018/09/30 |
| Last annual earnings reported: | 2017/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
