WSE:MFO

Stock Analysis Report

MFO Spólka Akcyjna

Executive Summary

MFO Spólka Akcyjna manufactures and sells steel profiles in Poland and internationally.

Snowflake

Fundamentals

Excellent balance sheet and good value.

Risks

  • MFO Spólka Akcyjna is covered by less than 3 analysts.

Share Price & News

How has MFO Spólka Akcyjna's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.4%

WSE:MFO

0.7%

PL Metals and Mining

-0.1%

PL Market


1 Year Return

-18.1%

WSE:MFO

-12.2%

PL Metals and Mining

2.2%

PL Market

MFO underperformed the Metals and Mining industry which returned -12.2% over the past year.

MFO underperformed the Market in Poland which returned 2.7% over the past year.


Share holder returns

MFOIndustryMarket
7 Day1.4%0.7%-0.1%
30 Day3.3%-3.6%1.4%
90 Day-14.7%-13.5%-2.1%
1 Year-14.9%-18.1%-11.9%-12.2%4.8%2.2%
3 Year27.3%18.1%19.2%15.4%22.4%13.8%
5 Year134.6%112.7%-9.8%-15.2%9.4%-4.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is MFO Spólka Akcyjna undervalued based on future cash flows and its price relative to the stock market?

27%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

MFO Spólka Akcyjna's share price is below the future cash flow value, and at a moderate discount (> 20%).

MFO Spólka Akcyjna's share price is below the future cash flow value, but not at a substantial discount (< 40%).


Price Based on Earnings

MFO Spólka Akcyjna is good value based on earnings compared to the PL Metals and Mining industry average.

MFO Spólka Akcyjna is good value based on earnings compared to the Poland market.


Price Based on Expected Growth

MFO Spólka Akcyjna is good value based on expected growth next year.


Price Based on Value of Assets

MFO Spólka Akcyjna is overvalued based on assets compared to the PL Metals and Mining industry average.


Next Steps

Future Growth

How is MFO Spólka Akcyjna expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

10.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

MFO Spólka Akcyjna's revenue is expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).

MFO Spólka Akcyjna's earnings are expected to grow by 10.6% yearly, however this is not considered high growth (20% yearly).

MFO Spólka Akcyjna's revenue growth is positive but not above the Poland market average.

MFO Spólka Akcyjna's earnings growth is expected to exceed the Poland market average.

MFO Spólka Akcyjna's earnings growth is expected to exceed the low risk savings rate of 2.9%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if MFO Spólka Akcyjna will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has MFO Spólka Akcyjna performed over the past 5 years?

29.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

MFO Spólka Akcyjna has delivered over 20% year on year earnings growth in the past 5 years.

MFO Spólka Akcyjna's 1-year earnings growth is less than its 5-year average (5.3% vs 29.9%)

MFO Spólka Akcyjna's earnings growth has not exceeded the PL Metals and Mining industry average in the past year (5.3% vs 5.3%).


Return on Equity

MFO Spólka Akcyjna has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

MFO Spólka Akcyjna used its assets more efficiently than the PL Metals and Mining industry average last year based on Return on Assets.


Return on Capital Employed

MFO Spólka Akcyjna's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is MFO Spólka Akcyjna's financial position?


Financial Position Analysis

MFO Spólka Akcyjna is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

MFO Spólka Akcyjna's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

MFO Spólka Akcyjna's level of debt (36.6%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (36% vs 36.6% today).

Debt is well covered by operating cash flow (29.2%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 25.4x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 2.6x debt.


Next Steps

Dividend

What is MFO Spólka Akcyjna's current dividend yield, its reliability and sustainability?

5.66%

Expected Dividend Yield


Dividend Yield and Payments Analysis

MFO Spólka Akcyjna's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.78%).

MFO Spólka Akcyjna's dividend is below the markets top 25% of dividend payers in Poland (7.12%).

MFO Spólka Akcyjna has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).

Dividend payments have increased, but MFO Spólka Akcyjna only paid a dividend in the past 4 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (4.6x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

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

14.5yrs

Average management tenure


CEO

Tomasz Mirski

19.5yrs

Tenure

zł1,022,000

Compensation

Mr. Tomasz Mirski has been the President of Management Board at MFO Spólka Akcyjna since 2000. Mr. Mirski was a Proxy of the Management Board for Sales in ASCON Sp. z o.o. since 1999. He holds a Degree in  ...


CEO Compensation Analysis

Tomasz's remuneration is higher than average for companies of similar size in Poland.

Tomasz's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.


Management Age and Tenure

14.5yrs

Average Tenure

The average tenure for the MFO Spólka Akcyjna management team is over 5 years, this suggests they are a seasoned and experienced team.


Insider Trading

No 3 month individual insider trading information.


Ownership Breakdown


Management Team

  • Danuta Dabrowska

    Chief Accountant

  • Tomasz Mirski

    President of Management Board

    • Tenure: 19.5yrs
    • Compensation: PLN1.02m
  • Jakub Czerwinski

    CFO & Member of Management Board

    • Tenure: 14.5yrs
    • Compensation: PLN930.00k
  • Adam Piekutowski

    Administrative Director & Member of Management Board

    • Tenure: 6.5yrs
    • Compensation: PLN912.00k

Board Members

  • Marek Mirski

    President of Supervisory Board

  • Slawomir Brudzinski

    Member of Supervisory Board

  • Tomasz Chmura

    Vice President of Supervisory Board

  • Marcin Pietkiewicz

    Member of Supervisory Board

  • Piotr Gawrys

    Member of the Supervisory Board

Company Information

MFO Spólka Akcyjna's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MFO Spólka Akcyjna
  • Ticker: MFO
  • Exchange: WSE
  • Founded:
  • Industry: steel
  • Sector: materials
  • Market Cap: zł146.026m
  • Shares outstanding: 6.61m
  • Website: Click here

Location

  • MFO Spólka Akcyjna
  • Kozuszki Parcel 70 A
  • Sochaczew
  • 96-500
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MFOWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNJan 2014
MFOWSE (Warsaw Stock Exchange)PLN0.2PLPLNInvalid date

Biography

MFO Spólka Akcyjna manufactures and sells steel profiles in Poland and internationally. Its products are used in PVC windows, roller shutters, drywall framing profiles, installations, ventilation and air c ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/07/22 21:47
End of Day Share Price2019/07/22 00:00
Earnings2019/03/31
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.