Grupa Azoty Zaklady Chemiczne Police
Grupa Azoty Zaklady Chemiczne Police S.A. The last earnings update was 166 days ago. More info.
Add to Portfolio Compare Print
PCE Share Price and Events
7 Day Returns
1 Year Returns
PCE Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Grupa Azoty Zaklady Chemiczne Police (PCE) | 3.5% | 7.2% | 7.6% | -24.1% | -40.8% | -26.7% |
| PL Chemicals | 0.1% | -3.5% | 12.8% | -17% | -39.4% | -16.5% |
| PL Market | 0.2% | 0.5% | 1.3% | -2.1% | 12.5% | -3.5% |
1 Year Return vs Industry and Market
- PCE underperformed the Chemicals industry which returned -17% over the past year.
- PCE underperformed the Market in Poland which returned -2.1% over the past year.
Price Volatility
Related Companies
PCE Value
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
Grupa Azoty Zaklady Chemiczne Police
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 Grupa Azoty Zaklady Chemiczne Police.
| 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% |
| 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 | 7.1% |
| Chemicals Unlevered Beta | Simply Wall St/ S&P Global | 0.93 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.928 (1 + (1- 19%) (37.58%)) |
1.141 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.14 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.141 * 7.14%) |
10.99% |
Discounted Cash Flow Calculation for WSE:PCE using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Grupa Azoty Zaklady Chemiczne Police 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.
| Levered FCF (PLN, Millions) | Source |
Present Value Discounted (@ 10.99%) |
|
|---|---|---|---|
| 2019 | 89.50 | Analyst x1 | 80.63 |
| 2020 | 139.40 | Analyst x1 | 113.15 |
| 2021 | 183.05 | Est @ 31.31% | 133.86 |
| 2022 | 224.73 | Est @ 22.77% | 148.07 |
| 2023 | 262.48 | Est @ 16.8% | 155.81 |
| 2024 | 295.59 | Est @ 12.61% | 158.08 |
| 2025 | 324.21 | Est @ 9.68% | 156.21 |
| 2026 | 348.96 | Est @ 7.63% | 151.48 |
| 2027 | 370.59 | Est @ 6.2% | 144.94 |
| 2028 | 389.84 | Est @ 5.19% | 137.36 |
| Present value of next 10 years cash flows | PLN1,379.60 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= PLN389.84 × (1 + 2.85%) ÷ (10.99% – 2.85%) |
PLN4,922.94 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= PLN4,922.94 ÷ (1 + 10.99%)10 |
PLN1,734.64 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= PLN1,379.60 + PLN1,734.64 |
PLN3,114.25 |
| Equity Value per Share (PLN) |
= Total value / Shares Outstanding
= PLN3,114.25 / 75.00 |
PLN41.52 |
| Calculation | Result | |
|---|---|---|
| Value per share (PLN) | From above. | PLN41.52 |
| Current discount | Discount to share price of
PLN14.80
= -1 x (PLN14.80 - PLN41.52) / PLN41.52 |
64.4% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Grupa Azoty Zaklady Chemiczne Police's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Grupa Azoty Zaklady Chemiczne Police's share price is below the future cash flow value, and 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 Grupa Azoty Zaklady Chemiczne Police's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Grupa Azoty Zaklady Chemiczne Police'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 | PLN-0.59 |
| WSE:PCE Share Price ** | WSE (2019-04-18) in PLN | PLN14.8 |
| Poland Chemicals Industry PE Ratio | Median Figure of 12 Publicly-Listed Chemicals Companies | 13.97x |
| Poland Market PE Ratio | Median Figure of 459 Publicly-Listed Companies | 11.13x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Grupa Azoty Zaklady Chemiczne Police.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = WSE:PCE Share Price ÷ EPS (both in PLN) = 14.8 ÷ -0.59 |
-24.96x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Grupa Azoty Zaklady Chemiczne Police is loss making, we can't compare its value to the PL Chemicals industry average.
- Grupa Azoty Zaklady Chemiczne Police is loss making, we can't compare the value of its earnings to the Poland market.
Price based on expected Growth
Does
Grupa Azoty Zaklady Chemiczne Police's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -24.96x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts |
107.7%per year |
| Poland Chemicals Industry PEG Ratio | Median Figure of 6 Publicly-Listed Chemicals Companies | 0.74x |
| Poland Market PEG Ratio | Median Figure of 114 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 Grupa Azoty Zaklady Chemiczne Police, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Grupa Azoty Zaklady Chemiczne Police's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-09-30) in PLN | PLN14.44 |
| WSE:PCE Share Price * | WSE (2019-04-18) in PLN | PLN14.8 |
| Poland Chemicals Industry PB Ratio | Median Figure of 17 Publicly-Listed Chemicals Companies | 0.64x |
| Poland Market PB Ratio | Median Figure of 687 Publicly-Listed Companies | 0.99x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = WSE:PCE Share Price ÷ Book Value per Share (both in PLN) = 14.8 ÷ 14.44 |
1.03x |
* Primary Listing of Grupa Azoty Zaklady Chemiczne Police.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Grupa Azoty Zaklady Chemiczne Police is overvalued based on assets compared to the PL Chemicals industry average.
Value checks
We assess Grupa Azoty Zaklady Chemiczne Police'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 Chemicals 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 Chemicals industry average (and greater than 0)? (1 check) Grupa Azoty Zaklady Chemiczne Police has a total score of 2/6, 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.
PCE Future Performance
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
- Grupa Azoty Zaklady Chemiczne Police's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
- Grupa Azoty Zaklady Chemiczne Police's earnings growth is expected to exceed the Poland market average.
- Grupa Azoty Zaklady Chemiczne Police's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| WSE:PCE Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts | 107.7% |
| WSE:PCE Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts | 5.5% |
| Poland Chemicals Industry Earnings Growth Rate | Market Cap Weighted Average | 45.1% |
| Poland Chemicals Industry Revenue Growth Rate | Market Cap Weighted Average | 5.1% |
| Poland Market Earnings Growth Rate | Market Cap Weighted Average | 10.3% |
| Poland Market Revenue Growth Rate | Market Cap Weighted Average | 6.5% |
*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 (6 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 |
|---|---|---|---|---|
| 2020-12-31 | 2,796 | 144 | 1 | |
| 2019-12-31 | 2,699 | 125 | 1 | |
| 2018-12-31 | 2,478 | -12 | 1 |
| Date (Data in PLN Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-09-30 | 2,508 | 301 | -44 |
| 2018-06-30 | 2,488 | 252 | -6 |
| 2018-03-31 | 2,508 | 213 | 96 |
| 2017-12-31 | 2,592 | 267 | 109 |
| 2017-09-30 | 2,449 | 182 | 99 |
| 2017-06-30 | 2,467 | 248 | 89 |
| 2017-03-31 | 2,421 | 297 | 51 |
| 2016-12-31 | 2,409 | 260 | 71 |
| 2016-09-30 | 2,534 | 280 | 130 |
| 2016-06-30 | 2,585 | 287 | 135 |
| 2016-03-31 | 2,674 | 272 | 174 |
| 2015-12-31 | 2,732 | 359 | 158 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (6 months ago) | See Below |
| Future Estimates | Average of up to 1 Analyst Estimates (S&P Global) | See Below |
All data from Grupa Azoty Zaklady Chemiczne Police Company Filings, last reported 6 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 |
|---|---|---|---|---|
| 2020-12-31 | 1.92 | 1.92 | 1.92 | 1.00 |
| 2019-12-31 | 1.67 | 1.67 | 1.67 | 1.00 |
| 2018-12-31 |
| Date (Data in PLN Millions) | EPS * |
|---|---|
| 2018-09-30 | -0.59 |
| 2018-06-30 | -0.08 |
| 2018-03-31 | 1.28 |
| 2017-12-31 | 1.45 |
| 2017-09-30 | 1.32 |
| 2017-06-30 | 1.19 |
| 2017-03-31 | 0.68 |
| 2016-12-31 | 0.95 |
| 2016-09-30 | 1.73 |
| 2016-06-30 | 1.80 |
| 2016-03-31 | 2.32 |
| 2015-12-31 | 2.11 |
*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 Grupa Azoty Zaklady Chemiczne Police will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Grupa Azoty Zaklady Chemiczne Police'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)
Grupa Azoty Zaklady Chemiczne Police has a total score of 3/6, 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.
PCE Past Performance
How has Grupa Azoty Zaklady Chemiczne Police 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
- Grupa Azoty Zaklady Chemiczne Police does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
- Unable to compare Grupa Azoty Zaklady Chemiczne Police's 1-year earnings growth to the 5-year average as it is not currently profitable.
- Unable to compare Grupa Azoty Zaklady Chemiczne Police's 1-year growth to the PL Chemicals industry average as it is not currently profitable.
Earnings and Revenue History
All data from Grupa Azoty Zaklady Chemiczne Police Company Filings, last reported 6 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 | 2,508.42 | -44.47 | 283.87 | |
| 2018-06-30 | 2,487.61 | -5.78 | 280.41 | |
| 2018-03-31 | 2,508.21 | 95.74 | 276.36 | |
| 2017-12-31 | 2,592.21 | 108.98 | 280.74 | |
| 2017-09-30 | 2,449.34 | 98.88 | 272.03 | |
| 2017-06-30 | 2,466.74 | 89.44 | 270.77 | |
| 2017-03-31 | 2,420.75 | 51.00 | 295.68 | |
| 2016-12-31 | 2,408.66 | 70.92 | 296.78 | |
| 2016-09-30 | 2,534.45 | 129.94 | 298.11 | |
| 2016-06-30 | 2,585.27 | 135.44 | 305.34 | |
| 2016-03-31 | 2,673.83 | 173.65 | 284.30 | |
| 2015-12-31 | 2,732.08 | 158.46 | 282.23 | |
| 2015-09-30 | 2,688.26 | 131.85 | 284.97 | |
| 2015-06-30 | 2,593.73 | 122.72 | 279.09 | |
| 2015-03-31 | 2,517.60 | 98.57 | 273.53 | |
| 2014-12-31 | 2,403.77 | 63.54 | 259.26 | |
| 2014-09-30 | 2,245.61 | 39.48 | 247.55 | |
| 2014-06-30 | 2,251.05 | 39.34 | 235.75 | |
| 2014-03-31 | 2,360.10 | 32.23 | 227.32 | |
| 2013-12-31 | 2,456.18 | 47.47 | 223.03 | |
| 2013-09-30 | 2,527.11 | 62.98 | 213.71 | |
| 2013-06-30 | 2,776.34 | 84.77 | 203.18 | |
| 2013-03-31 | 2,971.33 | 86.78 | 193.17 | |
| 2012-12-31 | 2,972.20 | 104.18 | 185.42 | |
| 2012-09-30 | 3,293.18 | 253.74 | 180.83 | |
| 2012-06-30 | 3,125.42 | 271.43 | 171.03 |
*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.
- It is difficult to establish if Grupa Azoty Zaklady Chemiczne Police has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
- Grupa Azoty Zaklady Chemiczne Police used its assets less efficiently than the PL Chemicals industry average last year based on Return on Assets.
- It is difficult to establish if Grupa Azoty Zaklady Chemiczne Police improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Grupa Azoty Zaklady Chemiczne Police'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 Chemicals 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)
Grupa Azoty Zaklady Chemiczne Police has a total score of 0/6, 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.
PCE Health
How is Grupa Azoty Zaklady Chemiczne Police'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 Grupa Azoty Zaklady Chemiczne Police's finances.
The net worth of a company is the difference between its assets and liabilities.
- Grupa Azoty Zaklady Chemiczne Police is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Grupa Azoty Zaklady Chemiczne Police'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 Grupa Azoty Zaklady Chemiczne Police Company Filings, last reported 6 months ago.
| Date (Data in PLN Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-09-30 | 1,198.03 | 417.19 | 211.84 |
| 2018-06-30 | 1,217.84 | 360.88 | 82.43 |
| 2018-03-31 | 1,248.23 | 423.95 | 135.74 |
| 2017-12-31 | 1,121.76 | 386.93 | 145.00 |
| 2017-09-30 | 1,142.92 | 476.24 | 98.81 |
| 2017-06-30 | 1,121.93 | 427.99 | 109.21 |
| 2017-03-31 | 1,123.39 | 437.23 | 103.69 |
| 2016-12-31 | 1,038.11 | 374.40 | 95.80 |
| 2016-09-30 | 1,299.14 | 391.89 | 112.76 |
| 2016-06-30 | 1,312.71 | 338.39 | 63.22 |
| 2016-03-31 | 1,295.15 | 327.50 | 52.21 |
| 2015-12-31 | 1,003.23 | 309.11 | 95.14 |
| 2015-09-30 | 1,186.47 | 292.91 | 53.79 |
| 2015-06-30 | 1,166.74 | 249.57 | 66.56 |
| 2015-03-31 | 1,150.39 | 259.06 | 94.57 |
| 2014-12-31 | 1,107.33 | 257.63 | 55.03 |
| 2014-09-30 | 1,095.16 | 234.35 | 45.40 |
| 2014-06-30 | 1,087.49 | 244.96 | 71.32 |
| 2014-03-31 | 1,083.78 | 277.27 | 106.09 |
| 2013-12-31 | 1,066.21 | 258.41 | 82.16 |
| 2013-09-30 | 1,066.72 | 208.72 | 35.78 |
| 2013-06-30 | 984.64 | 126.77 | 49.17 |
| 2013-03-31 | 1,011.32 | 168.36 | 48.33 |
| 2012-12-31 | 979.10 | 216.06 | 50.81 |
| 2012-09-30 | 979.67 | 114.22 | 66.31 |
| 2012-06-30 | 951.00 | 156.60 | 89.18 |
- Grupa Azoty Zaklady Chemiczne Police's level of debt (34.8%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (19.6% vs 34.8% today).
- Debt is well covered by operating cash flow (72.1%, greater than 20% of total debt).
- Grupa Azoty Zaklady Chemiczne Police is making a loss, therefore interest payments are not well covered by earnings.
Financial health checks
We assess Grupa Azoty Zaklady Chemiczne Police'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) Grupa Azoty Zaklady Chemiczne Police 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.
PCE Dividends
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
Grupa Azoty Zaklady Chemiczne Police
shares you are expected to receive
PLN72
in your first year as a dividend.
Dividend Amount
- Grupa Azoty Zaklady Chemiczne Police's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.75%).
- Grupa Azoty Zaklady Chemiczne Police's dividend is below the markets top 25% of dividend payers in Poland (7.52%).
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 Chemicals Industry Average Dividend Yield | Market Cap Weighted Average of 9 Stocks | 6.5% |
| Poland Market Average Dividend Yield | Market Cap Weighted Average of 205 Stocks | 3.3% |
| Poland Minimum Threshold Dividend Yield | 10th Percentile | 1.4% |
| Poland Bottom 25% Dividend Yield | 25th Percentile | 2.7% |
| Poland Top 25% Dividend Yield | 75th Percentile | 7.5% |
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 |
|---|---|---|
| 2020-12-31 | 0.25 | 1.00 |
| 2019-12-31 | 0.25 | 1.00 |
| 2018-12-31 | 0.53 | 1.00 |
| Date (Data in PLN) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-08-28 | 0.530 | 3.666 |
| 2018-04-19 | 0.530 | 2.980 |
| 2016-11-10 | 0.000 | 0.000 |
| 2016-08-24 | 0.000 | 0.000 |
| 2016-05-11 | 0.000 | 0.000 |
| 2016-03-11 | 0.000 | 0.000 |
| 2015-05-13 | 0.560 | 2.338 |
| 2015-03-16 | 0.560 | 2.407 |
| 2014-03-21 | 0.310 | 1.446 |
| 2013-03-21 | 0.670 | 2.931 |
| 2009-04-24 | 0.000 | 0.000 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Grupa Azoty Zaklady Chemiczne Police has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- Grupa Azoty Zaklady Chemiczne Police has only been paying a dividend for 6 years, and since then dividends per share have fallen.
Income/ dividend checks
We assess Grupa Azoty Zaklady Chemiczne Police'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 Grupa Azoty Zaklady Chemiczne Police afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Grupa Azoty Zaklady Chemiczne Police 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.
PCE Management
CEO
| COMPENSATION | PLN74,700 |
| TENURE AS CEO | 3 years |
CEO Bio
Dr. Wojciech Piotr Wardacki has served as the President of the Management Board and Chief Executive Officer at Grupa Azoty Zaklady Chemiczne Police S.A. since April 7, 2016. He has been President of Management Board at Grupa Azoty S.A. December 16, 2016. He has been a Supervisory Board Chairman at Bank Ochrony Srodowiska SA since 2016. Dr. Wardacki Education: PhD degree in economics. Career path: • 1983 to 1995: Assistant, later Assistant lecturer, with Institute of Transport Economics, initially with Szczecin Technical University, and as of Sep 1985, with Szczecin University. • 1989 to 1990: Research Worker, on a DAAD grant with University of Cologne Institute of Transport (Germany). • 1994 to 1996: own business, owned a Marketing Analysis and Study centre in Szczecin. • 1995 to 1996: Lecturer, with Higher School of Public Administration in Szczecin. • 1996 to Apr. 2005: Administration & Economics Head, Administration & Finance Director and eventually Management Board Member, with Goleniowskie Fabryki Mebli Kollektion WIM Sp. z o.o. in Golenis. • May 2005 to Aug 2006: Management Board Member in charge of restructuring with Zaklady Chemiczne Zachem S.A. in Bydgoszcz, and as of Oct 2005, Management Board President Director General. • Aug 2006 to Oct 2008: Management Board Member with Ciech S.A. in Warsaw. • Nov 2008 to Oct 2009: No professional engagement following no-competition clause in contract of employment with Ciech S.A. • 2010 to Dec 2014: own business, business counselling and lobbying. Further: • 1997 to 1998: Secretary to Advisory Group on Polish Rail company [PKP] restructuring programme evaluation to Management Board President of PKP. • 1998: Chairman, PKP Council. • 1999 to 2000: Member, PKP Council. • 2005 to 2008: Supervisory Board Member, later Supervisory Board Chairman, with “Transclean” Sp. z o.o. in Bydgoszcz. • 2006 to 2008: Supervisory Board Chairman, with “Janikosoda” S.A. in Janikowo. • 2006 to 2008: Supervisory Board Deputy Chairman, with “Soda Matwy” S.A. in Inowroclaw. • 2006 to 2008: Supervisory Board Member, with Gdanskie Zaklady Nawozs Fosforowych Sp. z o.o. in Gdansk. • 2007 to 2008: Supervisory Board Chairman, with Zachem S.A. in Bydgoszcz.
CEO Compensation
- Wojciech's compensation has been consistent with company performance over the past year.
- Wojciech's remuneration is higher than average for companies of similar size in Poland.
Management Team Tenure
Average tenure of the Grupa Azoty Zaklady Chemiczne Police management team in years:
- The tenure for the Grupa Azoty Zaklady Chemiczne Police management team is about average.
Management Team
Wojciech Wardacki
President of the Management Board & CEO
PLN75K
3 yrs
Tomasz Panas
Vice President of the Management Board
PLN1M
3 yrs
Wlodzimierz Zasadzki
Vice President of the Management Board
PLN1M
2.8 yrs
Anna Tarocinska
Member of Management Board
PLN655K
2.1 yrs
Bozena Licht
Secretary & Member of Supervisory Board
PLN75K
2.8 yrs
Józefa Zurawska
Chief Accountant
Wojciech Królak
Technical Director
Board of Directors Tenure
Average tenure of the Grupa Azoty Zaklady Chemiczne Police board of directors in years:
- The average tenure for the Grupa Azoty Zaklady Chemiczne Police board of directors is less than 3 years, this suggests a new board.
Board of Directors
Joanna Habelman
Chairwoman of the Supervisory Board
PLN83K
2.3 yrs
Miroslaw Kozlowski
Deputy Chairman of the Supervisory Board
PLN78K
2.2 yrs
Bozena Licht
Secretary & Member of Supervisory Board
PLN75K
2.8 yrs
Agnieszka Dabrowska
Member of the Supervisory Board
PLN68K
2.8 yrs
Andrzej Malicki
Member of the Supervisory Board
PLN73K
2.8 yrs
Maria Wiecek
Member of Supervisory Board
PLN71K
2.3 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 Grupa Azoty Zaklady Chemiczne Police'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) Grupa Azoty Zaklady Chemiczne Police 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.
PCE News
Simply Wall St News
Is Grupa Azoty Zaklady Chemiczne Police S.A.'s (WSE:PCE) Balance Sheet Strong Enough To Weather A Storm?
Investors are always looking for growth in small-cap stocks like Grupa Azoty Zaklady Chemiczne Police S.A. … However, an important fact which most ignore is: how financially healthy is the business? … the current state of its operations and pathway to profitability.
Simply Wall St - – Full articleWhat Should Investors Know About Grupa Azoty Zaklady Chemiczne Police SA's (WSE:PCE) Capital Returns?
and want a simplistic look at the return on Grupa Azoty Zaklady Chemiczne Police SA (WSE:PCE) stock. … Grupa Azoty Zaklady Chemiczne Police stock represents an ownership share in the company. … Thus, to understand how your money can grow by investing in Grupa Azoty Zaklady Chemiczne Police, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)
Simply Wall St - – Full articleWith An ROE Of 6.0%, Can Grupa Azoty Zaklady Chemiczne Police SA (WSE:PCE) Catch Up To The Industry?
Grupa Azoty Zaklady Chemiczne Police SA (WSE:PCE) delivered an ROE of 6.0% over the past 12 months, which is relatively in-line with its industry average of 6.5% during the same period. … But what is more interesting is whether PCE can sustain or improve on this level of return. … View our latest analysis for Grupa Azoty Zaklady Chemiczne Police
Simply Wall St - – Full articleWhat Does Grupa Azoty Zaklady Chemiczne Police SA's (WSE:PCE) PE Ratio Tell You?
Grupa Azoty Zaklady Chemiczne Police SA (WSE:PCE) is currently trading at a trailing P/E of 13.5x, which is higher than the industry average of 13.5x. … Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the assumptions behind the P/E ratio might change your mind. … See our latest analysis for Grupa Azoty Zaklady Chemiczne Police
Simply Wall St - – Full articleShould You Be Tempted To Sell Grupa Azoty Zaklady Chemiczne Police SA (WSE:PCE) At Its Current PE Ratio?
However, a static multiple such as PE is never conclusive on its own. … This is because there are many company-specific factors like future prospects and capital structure, which are unaccounted for … This article will cover some key aspects we should consider in order to determine the best multiple to be used for
Simply Wall St - – Full articleIs It Time To Buy Grupa Azoty Zaklady Chemiczne Police SA (WSE:PCE)?
Grupa Azoty Zaklady Chemiczne Police SA (WSE:PCE), a chemicals company based in Poland,. … A question to answer is whether Grupa Azoty Zaklady Chemiczne Police's current trading price of PLN17.7 reflective of the actual value of the? … Let’s take a look at Grupa Azoty Zaklady Chemiczne Police’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change
Simply Wall St - – Full articleDoes Grupa Azoty Zaklady Chemiczne Police SA. (WSE:PCE)'s Capital Return Make The Cut?
To understand Grupa Azoty Zaklady Chemiczne Police’s capital returns we will look at a useful metric called return on capital employed. … To determine Grupa Azoty Zaklady Chemiczne Police's capital return we will use ROCE, which tells us how much the company makes from the capital employed in their operations (for things like machinery, wages etc). … Comparing this to a healthy 15% benchmark shows Grupa Azoty Zaklady Chemiczne Police is currently unable to return a satisfactory amount to owners for the use of their capital, which isn't good for investors who have forgone other potentially solid companies.
Simply Wall St - – Full articleWhy Grupa Azoty Zaklady Chemiczne Police SA.'s (WSE:PCE) Ownership Structure Is Important
Check out our latest analysis for Grupa Azoty Zaklady Chemiczne Police WSE:PCE Ownership_summary May 10th 18 Institutional Ownership In PCE's case, institutional ownership stands at 16.12%, significant enough to cause considerable price moves in the case of large institutional transactions, especially when there is a low level of public shares available on the market to trade. … Public Company Ownership Another group of owners that a potential investor in PCE should consider are other public companies, with a stake of 66.00%. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: The company's high institutional ownership makes margin of safety a very important consideration to existing investors since long bull and bear trends often emerge when these big-ticket investors see a change in long-term potential of the company.
Simply Wall St - – Full articleHow Does Investing In Grupa Azoty Zaklady Chemiczne Police SA. (WSE:PCE) Impact Your Portfolio?
A stock with a beta greater than one is considered more sensitive to market-wide shocks compared to a stock that trades below the value of one. … See our latest analysis for Grupa Azoty Zaklady Chemiczne Police An interpretation of PCE's beta Grupa Azoty Zaklady Chemiczne Police's beta of 0.2 indicates that the stock value will be less variable compared to the whole stock market. … Based on this beta value, PCE appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market.
Simply Wall St - – Full articleIs Grupa Azoty Zaklady Chemiczne Police SA.'s (WSE:PCE) PE Ratio A Signal To Sell For Investors?
Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for PCE Price per share = PLN19.5 Earnings per share = PLN1.45 ∴ Price-Earnings Ratio = PLN19.5 ÷ PLN1.45 = 13.4x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … PCE’s P/E of 13.4x is higher than its industry peers (12.6x), which implies that each dollar of PCE’s earnings is being overvalued by investors. … For example, if you inadvertently compared riskier firms with PCE, then investors would naturally value PCE at a higher price since it is a less risky investment.
Simply Wall St - – Full articlePCE Company Info
Description
Grupa Azoty Zaklady Chemiczne Police S.A. manufactures and sells mineral fertilizers, engineering plastics, OXO alcohols, plasticizers, and pigments worldwide. It provides compound fertilizers, such as nitrogen, phosphorus, and potassium fertilizers under the POLIFOSK and POLIDAP brand; nitrogen-based fertilizers; and phosphoric and sulfuric acids. The company also manufactures and sells urea solutions for to reducing nitrogen oxide emissions from diesel engines and used as a reducing agent in vehicle emissions control technologies under the NOXy and Pulnox name, as well as liquid ammonia. In addition, it provides pigments comprising titanium white and associated semi-products, including iron sulfate and hydrolytic acid under the TYTANPOL brand. Further, the company produces electricity, hot steam, and heating water, as well as fly ash. Additionally, it offers design services for construction, assembly, mechanical, electrical, automation and measurement, technological, and chemical industries; printing and binding services; logistics, transport, plant and equipment, and workshop services; and sea port operation, port construction, property management, research and development, sea and inland shipping, and coastal water transportation services. The company also engages in the provision of overhauls and services for mechanical industry; project execution, technical, and engineering activities in automation; repairs of instrumentation and control equipment; maintenance of computer control systems; repair, maintenance, and inspection of electrical machinery; provision of measurement and diagnostics services; and inspection and maintenance of medium-and-low voltage electrical equipment and networks. In addition, the company is involved in phosphate rock exploration, wastewater disposal, waste storage, laboratory, and property rental activities. The company is based in Police, Poland. Grupa Azoty Zaklady Chemiczne Police S.A. is a subsidiary of Grupa Azoty Spólka Akcyjna.
Details
| Name: | Grupa Azoty Zaklady Chemiczne Police S.A. |
| PCE | |
| Exchange: | WSE |
| Founded: | |
| PLN1,110,000,000 | |
| 75,000,000 | |
| Website: | http://zchpolice.grupaazoty.com/en.html |
| Address: |
Grupa Azoty Zaklady Chemiczne Police S.A. ul. Kuznicka 1, Police, 72-010, Poland |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| WSE | PCE | Ordinary Shares | Warsaw Stock Exchange | PL | PLN | 06. Sep 2005 | |
| LSE | 0OJO | Ordinary Shares | London Stock Exchange | GB | PLN | 06. Sep 2005 |
Number of employees
Current staff
Industry
| Diversified Chemicals | |
| Materials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/23 20:54 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/02/13 |
| Last earnings filing: | 2018/11/08 |
| 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.
