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MFO Spólka Akcyjna

WSE:MFO
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MFO
WSE
PLN141M
Market Cap
  1. Home
  2. PL
  3. Materials
Company description

MFO Spólka Akcyjna manufactures and sells steel profiles in Poland and internationally. The last earnings update was 54 days ago. More info.


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MFO Share Price and Events
7 Day Returns
-2.7%
WSE:MFO
-2%
PL Metals and Mining
-0.3%
PL Market
1 Year Returns
-19.5%
WSE:MFO
-11.8%
PL Metals and Mining
3.9%
PL Market
MFO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MFO Spólka Akcyjna (MFO) -2.7% -4.9% -17.4% -19.5% 27.5% 98.1%
PL Metals and Mining -2% -2.2% -15.1% -11.8% 19.7% -14.6%
PL Market -0.3% 1.8% -2.4% 3.9% 15.6% -3.5%
1 Year Return vs Industry and Market
  • MFO underperformed the Metals and Mining industry which returned -11.8% over the past year.
  • MFO underperformed the Market in Poland which returned 3.9% over the past year.
Price Volatility
MFO
Industry
5yr Volatility vs Market

MFO Value

 Is MFO Spólka Akcyjna 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 MFO Spólka Akcyjna 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for MFO Spólka Akcyjna.

WSE:MFO Discounted Cash Flow Data Sources
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 11.8%
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.

Calculation of Discount Rate/ Cost of Equity for WSE:MFO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.053 (1 + (1- 19%) (38.47%))
1.256
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.26
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.256 * 7.14%)
11.82%

Discounted Cash Flow Calculation for WSE:MFO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for MFO Spólka Akcyjna is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WSE:MFO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 11.82%)
2020 13.60 Analyst x1 12.16
2021 15.56 Est @ 14.38% 12.44
2022 17.25 Est @ 10.92% 12.34
2023 18.72 Est @ 8.5% 11.98
2024 19.99 Est @ 6.8% 11.44
2025 21.12 Est @ 5.62% 10.80
2026 22.13 Est @ 4.79% 10.13
2027 23.06 Est @ 4.21% 9.44
2028 23.93 Est @ 3.8% 8.76
2029 24.77 Est @ 3.51% 8.11
Present value of next 10 years cash flows PLN107.60
WSE:MFO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= PLN24.77 × (1 + 2.85%) ÷ (11.82% – 2.85%)
PLN284.22
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN284.22 ÷ (1 + 11.82%)10
PLN93.04
WSE:MFO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN107.60 + PLN93.04
PLN200.63
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN200.63 / 6.61
PLN30.36
WSE:MFO Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN30.36
Current discount Discount to share price of PLN21.40
= -1 x (PLN21.40 - PLN30.36) / PLN30.36
29.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price MFO Spólka Akcyjna is available for.
Intrinsic value
30%
Share price is PLN21.4 vs Future cash flow value of PLN30.36
Current Discount Checks
For MFO Spólka Akcyjna to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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 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 MFO Spólka Akcyjna's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MFO Spólka Akcyjna's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:MFO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PLN PLN3.86
WSE:MFO Share Price ** WSE (2019-07-16) in PLN PLN21.4
Poland Metals and Mining Industry PE Ratio Median Figure of 16 Publicly-Listed Metals and Mining Companies 6.06x
Poland Market PE Ratio Median Figure of 455 Publicly-Listed Companies 10.76x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of MFO Spólka Akcyjna.

WSE:MFO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= WSE:MFO Share Price ÷ EPS (both in PLN)

= 21.4 ÷ 3.86

5.54x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • 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
Does MFO Spólka Akcyjna's expected growth come at a high price?
Raw Data
WSE:MFO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
10.6%per year
Poland Metals and Mining Industry PEG Ratio Median Figure of 11 Publicly-Listed Metals and Mining Companies 0.47x
Poland Market PEG Ratio Median Figure of 105 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

WSE:MFO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.54x ÷ 10.6%

0.52x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MFO Spólka Akcyjna is good value based on expected growth next year.
Price based on value of assets
What value do investors place on MFO Spólka Akcyjna's assets?
Raw Data
WSE:MFO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PLN PLN22.48
WSE:MFO Share Price * WSE (2019-07-16) in PLN PLN21.4
Poland Metals and Mining Industry PB Ratio Median Figure of 19 Publicly-Listed Metals and Mining Companies 0.78x
Poland Market PB Ratio Median Figure of 684 Publicly-Listed Companies 0.97x
WSE:MFO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WSE:MFO Share Price ÷ Book Value per Share (both in PLN)

= 21.4 ÷ 22.48

0.95x

* Primary Listing of MFO Spólka Akcyjna.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MFO Spólka Akcyjna is overvalued based on assets compared to the PL Metals and Mining industry average.
X
Value checks
We assess MFO Spólka Akcyjna's value by looking at:
  1. 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. )
  2. 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)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Metals and Mining industry average (and greater than 0)? (1 check)
  5. MFO Spólka Akcyjna has a total score of 4/6, 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.

MFO Future Performance

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

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!
Annual Growth Rate
10.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MFO Spólka Akcyjna expected to grow at an attractive rate?
  • MFO Spólka Akcyjna's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • MFO Spólka Akcyjna's earnings growth is expected to exceed the Poland market average.
  • MFO Spólka Akcyjna's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:MFO Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:MFO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 10.6%
WSE:MFO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 4.2%
Poland Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average 1.2%
Poland Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 1.4%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.2%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.4%

*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
Raw Data
WSE:MFO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:MFO Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 465 29 31 1
2019-12-31 437 27 27 1
WSE:MFO Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-03-31 433 16 26
2018-12-31 414 14 28
2018-09-30 395 11 27
2018-06-30 384 31 29
2018-03-31 378 12 24
2017-12-31 366 3 21
2017-09-30 337 10 21
2017-06-30 311 -5 20
2017-03-31 286 20 22
2016-12-31 256 29 18
2016-09-30 251 19 18
2016-06-30 239 19 16

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • 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 is expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WSE:MFO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from MFO Spólka Akcyjna Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:MFO Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 4.60 4.60 4.60 1.00
2019-12-31 4.10 4.10 4.10 1.00
WSE:MFO Past Financials Data
Date (Data in PLN Millions) EPS *
2019-03-31 3.86
2018-12-31 4.22
2018-09-30 4.14
2018-06-30 4.45
2018-03-31 3.82
2017-12-31 3.33
2017-09-30 3.38
2017-06-30 3.22
2017-03-31 3.61
2016-12-31 2.91
2016-09-30 2.94
2016-06-30 2.67

*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 MFO Spólka Akcyjna will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess MFO Spólka Akcyjna's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Poland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Poland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
MFO Spólka Akcyjna has a total score of 2/6, 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.

MFO Past Performance

  How has MFO Spólka Akcyjna 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
Below we compare MFO Spólka Akcyjna's growth in the last year to its industry (Metals and Mining).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • 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%).
Earnings and Revenue History
MFO Spólka Akcyjna's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from MFO Spólka Akcyjna Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:MFO Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 433.43 25.52 42.80
2018-12-31 414.30 27.90 41.67
2018-09-30 394.60 27.31 39.35
2018-06-30 384.48 28.77 37.86
2018-03-31 378.38 24.23 35.62
2017-12-31 366.23 20.72 33.49
2017-09-30 336.69 20.62 30.92
2017-06-30 311.30 19.62 28.69
2017-03-31 285.61 22.04 29.02
2016-12-31 256.08 17.75 28.06
2016-09-30 251.05 17.93 27.56
2016-06-30 239.04 16.27 26.57
2016-03-31 224.96 11.56 23.78
2015-12-31 216.17 10.14 22.57
2015-09-30 209.69 8.29 20.67
2015-06-30 205.52 8.08 19.64
2015-03-31 200.89 8.01 18.64
2014-12-31 196.12 7.91 17.81
2014-09-30 195.07 7.14 16.98
2014-06-30 190.93 6.94 16.56
2014-03-31 186.02 6.93 15.75
2013-12-31 177.70 5.95 15.12
2013-09-30 170.49 5.31 15.04
2012-12-31 162.53 4.94 12.94

*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.
  • MFO Spólka Akcyjna has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • MFO Spólka Akcyjna used its assets more efficiently than the PL Metals and Mining industry average last year based on Return on Assets.
  • MFO Spólka Akcyjna's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess MFO Spólka Akcyjna's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Metals and Mining industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
MFO Spólka Akcyjna has a total score of 2/6, 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.

MFO Health

 How is MFO Spólka Akcyjna'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 MFO Spólka Akcyjna's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • 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.
Balance sheet
This treemap shows a more detailed breakdown of MFO Spólka Akcyjna's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.6x 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.
Raw Data

All data from MFO Spólka Akcyjna Company Filings, last reported 3 months ago.

WSE:MFO Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 148.51 51.57 14.31
2018-12-31 140.57 57.24 20.40
2018-09-30 134.09 53.29 16.30
2018-06-30 130.30 44.01 18.15
2018-03-31 125.54 53.32 28.42
2017-12-31 115.22 47.24 29.87
2017-09-30 110.62 31.47 29.87
2017-06-30 88.11 36.10 7.08
2017-03-31 87.61 30.34 19.39
2016-12-31 80.80 20.97 18.71
2016-09-30 76.26 18.57 13.49
2016-06-30 72.03 15.77 11.51
2016-03-31 66.66 17.30 2.96
2015-12-31 64.14 18.14 3.57
2015-09-30 54.71 17.39 1.35
2015-06-30 52.14 18.35 3.53
2015-03-31 53.05 15.57 3.12
2014-12-31 51.48 16.68 7.96
2014-09-30 48.62 22.69 1.67
2014-06-30 46.26 15.87 1.54
2014-03-31 45.16 11.02 1.94
2013-12-31 44.17 3.11 5.50
2013-09-30 30.44 9.91 1.42
2012-12-31 26.59 10.42 1.91
  • 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).
X
Financial health checks
We assess MFO Spólka Akcyjna's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. MFO Spólka Akcyjna has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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.

MFO Dividends

 What is MFO Spólka Akcyjna'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
Dividend payments
3.93%
Current annual income from MFO Spólka Akcyjna dividends. Estimated to be 5.84% next year.
If you bought PLN2,000 of MFO Spólka Akcyjna shares you are expected to receive PLN79 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • MFO Spólka Akcyjna's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.81%).
  • MFO Spólka Akcyjna's dividend is below the markets top 25% of dividend payers in Poland (7%).
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.
Raw Data
WSE:MFO Annualized Past and Future Dividends
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 8 Stocks 5%
Poland Market Average Dividend Yield Market Cap Weighted Average of 203 Stocks 4.2%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.5%
Poland Bottom 25% Dividend Yield 25th Percentile 2.8%
Poland Top 25% Dividend Yield 75th Percentile 7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WSE:MFO Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.60 1.00
2019-12-31 0.90 1.00
WSE:MFO Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2019-05-23 0.840 3.841
2019-03-28 0.840 3.512
2018-05-23 0.630 2.448
2018-03-28 0.630 1.996
2017-08-28 0.580 1.716
2017-03-20 0.580 1.531
2016-11-14 0.000 0.000
2016-08-29 0.000 0.000
2016-05-13 0.000 0.000
2016-03-18 0.000 0.000
2015-08-27 0.300 2.492
2015-03-20 0.300 2.388

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • 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
What portion of MFO Spólka Akcyjna's earnings are paid to the shareholders as a dividend.
  • 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.
X
Income/ dividend checks
We assess MFO Spólka Akcyjna's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can MFO Spólka Akcyjna afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MFO Spólka Akcyjna 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.

MFO Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tomasz Mirski
COMPENSATION PLN1,022,000
TENURE AS CEO 19.5 years
CEO Bio

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 Production Engineering from Warsaw University of Technology.

CEO Compensation
  • Tomasz's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Tomasz's remuneration is higher than average for companies of similar size in Poland.
Management Team Tenure

Average tenure of the MFO Spólka Akcyjna management team in years:

14.5
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.
Management Team

Tomasz Mirski

TITLE
President of Management Board
COMPENSATION
PLN1M
TENURE
19.5 yrs

Jakub Czerwinski

TITLE
CFO & Member of Management Board
COMPENSATION
PLN930K
TENURE
14.5 yrs

Adam Piekutowski

TITLE
Administrative Director & Member of Management Board
COMPENSATION
PLN912K
TENURE
6.5 yrs

Danuta Dabrowska

TITLE
Chief Accountant
Board of Directors

Marek Mirski

TITLE
President of Supervisory Board

Tomasz Chmura

TITLE
Vice President of Supervisory Board

Slawomir Brudzinski

TITLE
Member of Supervisory Board

Marcin Pietkiewicz

TITLE
Member of Supervisory Board

Piotr Gawrys

TITLE
Member of the Supervisory Board
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (PLN) Value (PLN)
X
Management checks
We assess MFO Spólka Akcyjna's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. MFO Spólka Akcyjna 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.

MFO News

Simply Wall St News

Should We Be Delighted With MFO Spólka Akcyjna's (WSE:MFO) ROE Of 17%?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for MFO Spólka Akcyjna: 17% = zł26m ÷ zł149m (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does MFO Spólka Akcyjna Have A Good Return On Equity? … Combining MFO Spólka Akcyjna's Debt And Its 17% Return On Equity MFO Spólka Akcyjna has a debt to equity ratio of 0.37, which is far from excessive.

Simply Wall St -

MFO Spólka Akcyjna (WSE:MFO) Earns A Nice Return On Capital Employed

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for MFO Spólka Akcyjna: 0.18 = zł33m ÷ (zł281m - zł95m) (Based on the trailing twelve months to March 2019.) So, MFO Spólka Akcyjna has an ROCE of 18%. … Do MFO Spólka Akcyjna's Current Liabilities Skew Its ROCE? … What We Can Learn From MFO Spólka Akcyjna's ROCE MFO Spólka Akcyjna's ROCE does look good, but the level of current liabilities also contribute to that.

Simply Wall St -

How Much Of MFO Spólka Akcyjna (WSE:MFO) Do Insiders Own?

The big shareholder groups in MFO Spólka Akcyjna (WSE:MFO) have power over the company. … As Charlie Munger said 'Show me the incentive and I will show you the outcome.' With a market capitalization of zł145m, MFO Spólka Akcyjna is a small cap stock, so it might not be well known by many institutional investors. … View our latest analysis for MFO Spólka Akcyjna WSE:MFO Ownership Summary, June 10th 2019 What Does The Institutional Ownership Tell Us About MFO Spólka Akcyjna?

Simply Wall St -

Calculating The Intrinsic Value Of MFO Spólka Akcyjna (WSE:MFO)

by taking the expected future cash flows and discounting them to their present value. … We generally believe that a company's value is the present value of all of the cash it will generate in the future. … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model

Simply Wall St -

What Investors Should Know About MFO Spólka Akcyjna's (WSE:MFO) Financial Strength

However, an important fact which most ignore is: how financially healthy is the business? … Evaluating financial health as part of your investment thesis is. … The following basic checks can help you get a picture of the company's balance sheet strength.

Simply Wall St -

Can MFO Spólka Akcyjna (WSE:MFO) Maintain Its Strong Returns?

MFO Spólka Akcyjna has a ROE of 20%, based on the last twelve months. … One way to conceptualize this, is that for each PLN1 of shareholders' equity it has, the company made PLN0.20 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

MFO Spólka Akcyjna (WSE:MFO) Shareholders Have Enjoyed A 88% Share Price Gain

For example, the MFO Spólka Akcyjna (WSE:MFO) share price is up 88% in the last 5 years, clearly besting than the market return of around -1.0% (ignoring dividends). … During five years of share price growth, MFO Spólka Akcyjna achieved compound earnings per share (EPS) growth of 31% per year. … The EPS growth is more impressive than the yearly share price gain of 13% over the same period.

Simply Wall St -

What Kind Of Shareholder Appears On The MFO Spólka Akcyjna's (WSE:MFO) Shareholder Register?

If you want to know who really controls MFO Spólka Akcyjna (WSE:MFO), then you'll have to look at the makeup of its share registry. … With a market capitalization of zł161m, MFO Spólka Akcyjna is a small cap stock, so it might not be well known by many institutional investors. … View our latest analysis for MFO Spólka Akcyjna

Simply Wall St -

Does MFO Spólka Akcyjna's (WSE:MFO) CEO Pay Compare Well With Peers?

Tomasz Mirski has been the CEO of MFO Spólka Akcyjna (WSE:MFO) since 2000. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Tomasz Mirski's Compensation Compare With Similar Sized Companies?

Simply Wall St -

A Close Look At MFO Spólka Akcyjna’s (WSE:MFO) 21% ROCE

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Return On Capital Employed (ROCE): What is it? … Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

Simply Wall St -

MFO Company Info

Description

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 conditioning, electrical installations, technical flooring systems, semi-trailers and truck bodies, furniture industry, rack systems, fencing systems and gates, scaffolds, and photovoltaic systems. The company is based in Sochaczew, Poland.

Details
Name: MFO Spólka Akcyjna
MFO
Exchange: WSE
Founded:
PLN141,400,286
6,607,490
Website: http://www.mfo.pl
Address: MFO Spólka Akcyjna
Kozuszki Parcel 70 A,
Sochaczew,
96-500,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE MFO Common Bearer Shares Warsaw Stock Exchange PL PLN 09. Jan 2014
WSE MFO PLN0.2 Warsaw Stock Exchange PL PLN 16. Jul 2019
Number of employees
Current staff
Staff numbers
0
MFO Spólka Akcyjna employees.
Industry
Steel
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 21:53
End of day share price update: 2019/07/16 00:00
Last estimates confirmation: 2019/03/28
Last earnings filing: 2019/05/23
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


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.