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PCC Exol

WSE:PCX
Snowflake Description

Adequate balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PCX
WSE
PLN269M
Market Cap
  1. Home
  2. PL
  3. Materials
Company description

PCC Exol S.A. manufactures and sells surfactants in Poland and internationally. The last earnings update was 92 days ago. More info.


Add to Portfolio Compare Print
PCX Share Price and Events
7 Day Returns
0%
WSE:PCX
0.9%
PL Chemicals
-1.6%
PL Market
1 Year Returns
-8.8%
WSE:PCX
-24%
PL Chemicals
-8%
PL Market
PCX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PCC Exol (PCX) 0% 4.7% -1.3% -8.8% -25.4% -68.4%
PL Chemicals 0.9% 14.2% 32.8% -24% -40.3% -16.2%
PL Market -1.6% 0.4% 7.1% -8% 16.9% -6.4%
1 Year Return vs Industry and Market
  • PCX outperformed the Chemicals industry which returned -24% over the past year.
Price Volatility
PCX
Industry
5yr Volatility vs Market

Value

 Is PCC Exol 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 PCC Exol 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 PCC Exol.

WSE:PCX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 8.6%
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:PCX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.2%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.475 (1 + (1- 19%) (73.96%))
0.759
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (0.8 * 7.15%)
8.57%

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

The calculations below outline how an intrinsic value for PCC Exol 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.

WSE:PCX DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (PLN, Millions) 25.45 27.18 29.03 31.01 33.12
Source Est @ 6.81% Est @ 6.81% Est @ 6.81% Est @ 6.81% Est @ 6.81%
Present Value
Discounted (@ 8.57%)
23.44 23.06 22.69 22.32 21.96
Present value of next 5 years cash flows PLN113.46
WSE:PCX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= PLN33.12 × (1 + 2.85%) ÷ (8.57% – 2.85%)
PLN595.56
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= PLN595.56 ÷ (1 + 8.57%)5
PLN394.80
WSE:PCX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= PLN113.46 + PLN394.80
PLN508.26
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN508.26 / 172.48
PLN2.95
WSE:PCX Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN2.95
Current discount Discount to share price of PLN1.56
= -1 x (PLN1.56 - PLN2.95) / PLN2.95
47.1%

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

Current Discount
Amount off the current price PCC Exol is available for.
Intrinsic value
47%
Share price is PLN1.56 vs Future cash flow value of PLN2.95
Current Discount Checks
For PCC Exol to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PCC Exol's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PCC Exol'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 PCC Exol's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PCC Exol's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:PCX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in PLN PLN0.11
WSE:PCX Share Price ** WSE (2019-02-15) in PLN PLN1.56
Poland Chemicals Industry PE Ratio Median Figure of 12 Publicly-Listed Chemicals Companies 12.73x
Poland Market PE Ratio Median Figure of 449 Publicly-Listed Companies 10.25x

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

** Primary Listing of PCC Exol.

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

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

= 1.56 ÷ 0.11

13.83x

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

  • PCC Exol is overvalued based on earnings compared to the PL Chemicals industry average.
  • PCC Exol is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does PCC Exol's expected growth come at a high price?
Raw Data
WSE:PCX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-4%per year
Europe Chemicals Industry PEG Ratio Median Figure of 61 Publicly-Listed Chemicals Companies 2.01x
Poland Market PEG Ratio Median Figure of 100 Publicly-Listed Companies 1.09x

*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 PCC Exol, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on PCC Exol's assets?
Raw Data
WSE:PCX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in PLN PLN1.43
WSE:PCX Share Price * WSE (2019-02-15) in PLN PLN1.56
Poland Chemicals Industry PB Ratio Median Figure of 17 Publicly-Listed Chemicals Companies 0.66x
Poland Market PB Ratio Median Figure of 690 Publicly-Listed Companies 1.02x
WSE:PCX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.56 ÷ 1.43

1.09x

* Primary Listing of PCC Exol.

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

  • PCC Exol is overvalued based on assets compared to the PL Chemicals industry average.
X
Value checks
We assess PCC Exol'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 Chemicals 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 Chemicals industry average (and greater than 0)? (1 check)
  5. PCC Exol 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.

Future Performance

 How is PCC Exol expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover PCC Exol, 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!
Annual Growth Rate
-4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PCC Exol expected to grow at an attractive rate?
  • PCC Exol'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
  • PCC Exol's earnings are expected to decrease over the next 1-3 years, this is below the Poland market average.
  • Unable to compare PCC Exol's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:PCX Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:PCX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -4%
Poland Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 11.4%
Poland Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 4.9%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.1%
Poland Market Revenue Growth Rate Market Cap Weighted Average 6.4%

*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:PCX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:PCX Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-09-30 647 49 19
2018-06-30 630 35 19
2018-03-31 613 39 18
2017-12-31 625 59 18
2017-09-30 612 45 20
2017-06-30 599 50 18
2017-03-31 580 28 20
2016-12-31 540 30 21
2016-09-30 531 26 21
2016-06-30 528 21 22
2016-03-31 516 35 17
2015-12-31 515 55 15

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PCC Exol's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if PCC Exol is high growth as no revenue estimate data is available.
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:PCX 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 0 Analyst Estimates (S&P Global) See Below

All data from PCC Exol Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:PCX Past Financials Data
Date (Data in PLN Millions) EPS *
2018-09-30 0.11
2018-06-30 0.11
2018-03-31 0.11
2017-12-31 0.11
2017-09-30 0.11
2017-06-30 0.10
2017-03-31 0.11
2016-12-31 0.12
2016-09-30 0.12
2016-06-30 0.13
2016-03-31 0.10
2015-12-31 0.09

*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 PCC Exol will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess PCC Exol'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.
PCC Exol 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 PCC Exol 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 PCC Exol's growth in the last year to its industry (Chemicals).
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.
  • PCC Exol has delivered over 20% year on year earnings growth in the past 5 years.
  • PCC Exol's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • PCC Exol's 1-year earnings growth is negative, it can't be compared to the PL Chemicals industry average.
Earnings and Revenue History
PCC Exol'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 PCC Exol Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:PCX Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 647.32 19.46 60.94
2018-06-30 630.35 19.22 58.77
2018-03-31 613.03 18.36 56.02
2017-12-31 625.35 18.22 55.72
2017-09-30 611.99 19.68 53.87
2017-06-30 598.88 17.52 53.49
2017-03-31 579.82 19.70 53.37
2016-12-31 539.79 21.47 53.34
2016-09-30 530.90 21.16 52.88
2016-06-30 527.97 21.62 51.35
2016-03-31 516.28 16.79 50.01
2015-12-31 514.85 14.75 47.92
2015-09-30 509.61 11.03 46.78
2015-06-30 512.22 6.97 45.39
2015-03-31 520.50 5.21 44.31
2014-12-31 511.03 4.03 42.98
2014-09-30 511.11 8.36 43.21
2014-06-30 489.63 8.58 41.64
2014-03-31 468.81 8.34 40.97
2013-12-31 466.67 9.11 40.47
2013-09-30 437.61 3.34 35.48
2013-06-30 421.25 2.70 31.75
2013-03-31 424.07 4.83 28.41
2012-12-31 406.90 3.45 23.85
2012-09-30 396.10 5.59 22.09
2012-06-30 353.21 4.91 18.35
2012-03-31 283.42 2.50 12.41

*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.
  • PCC Exol has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PCC Exol used its assets more efficiently than the PL Chemicals industry average last year based on Return on Assets.
  • PCC Exol has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PCC Exol'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 Chemicals 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.
PCC Exol has a total score of 3/6, 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 PCC Exol'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 PCC Exol's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PCC Exol is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PCC Exol's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of PCC Exol'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 not covered by short term assets, assets are 0.9x 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 PCC Exol Company Filings, last reported 4 months ago.

WSE:PCX Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 246.85 199.01 21.33
2018-06-30 240.67 200.11 19.18
2018-03-31 245.90 198.89 12.88
2017-12-31 243.20 187.03 39.69
2017-09-30 242.22 193.60 7.54
2017-06-30 236.42 168.77 14.89
2017-03-31 257.30 178.97 6.94
2016-12-31 256.82 181.98 19.75
2016-09-30 247.68 146.58 12.46
2016-06-30 244.67 167.43 7.34
2016-03-31 240.63 185.47 7.95
2015-12-31 238.77 186.59 13.42
2015-09-30 233.11 198.07 7.80
2015-06-30 228.50 189.17 9.81
2015-03-31 229.72 197.61 9.26
2014-12-31 220.38 205.55 9.69
2014-09-30 218.06 207.21 7.87
2014-06-30 214.25 203.56 8.26
2014-03-31 218.40 211.67 10.10
2013-12-31 216.63 207.21 5.82
2013-09-30 211.91 216.07 6.03
2013-06-30 211.13 214.91 6.38
2013-03-31 214.52 216.08 10.23
2012-12-31 172.10 209.17 12.90
2012-09-30 172.53 210.01 20.75
2012-06-30 157.68 217.72 11.65
2012-03-31 150.79 223.06 9.95
  • PCC Exol's level of debt (80.6%) 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 (101.9% vs 80.6% today).
  • Debt is well covered by operating cash flow (24.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.5x coverage).
X
Financial health checks
We assess PCC Exol'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. PCC Exol has a total score of 4/6, 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.

Dividends

 What is PCC Exol'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
5.77%
Current annual income from PCC Exol dividends.
If you bought PLN2,000 of PCC Exol shares you are expected to receive PLN115 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?
  • PCC Exol's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.53%).
  • PCC Exol's dividend is below the markets top 25% of dividend payers in Poland (7.75%).
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:PCX 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 0 Analyst Estimates (S&P Global) See Below
Poland Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 6.3%
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 2.5%
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.

WSE:PCX Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2018-05-18 0.090 5.694
2018-03-20 0.090 5.277
2017-05-15 0.130 7.377
2017-03-09 0.130 7.105
2016-05-13 0.040 2.245
2016-03-18 0.040 1.955
2015-05-14 0.010 0.352
2015-03-20 0.010 0.302
2014-11-14 0.030 0.902
2014-08-29 0.030 0.849
2014-03-20 0.030 0.741
2014-01-15 0.030 0.638

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

  • PCC Exol 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 PCC Exol only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of PCC Exol's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x 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 PCC Exol's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - 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 PCC Exol afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PCC Exol 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

 What is the CEO of PCC Exol'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
Miroslaw Siwirski
COMPENSATION PLN2,059,000
CEO Bio

Mr. Miroslaw Siwirski serves as the President of the Management Board of PCC Exol Spólka Akcyjna and has been its Commercial Director and Member of the Management Board since April 2013. From 1995 to 2003, Mr. Siwirski worked in executive positions in commercial departments of a number of companies, including Star Foods SA and in Browary Dolnoslaskie Piast SA. From 2003 to 2004, he served as President of the Management Board in Dolnoslaskie Centrum Dystrybucyjne Sp. z o.o. From 2004 to 2006, he served as Domestic Sales Director in Rokita Agro SA, which was a part of the PCC Capital Group at that time. From 2006 to 2012, he served as Member of the Management Board of Rokita Agro S.A. (currently Makhteshim-Agan Agro Poland SA). He served as a Trade Director of PCC Exol Spólka Akcyjn. From 2008 to 2009 and from 2010 to 2012, he served as President of the Management Board of Rokita Agro S.A. He graduated from Wroclaw University of Environmental and Life Sciences, master’s degree in Agriculture.

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

Miroslaw Siwirski

TITLE
President of the Management Board & Commercial Director
COMPENSATION
PLN2M

Rafal Zdon

TITLE
Vice President of the Management Board
COMPENSATION
PLN36K
TENURE
7 yrs
Board of Directors Tenure

Average tenure of the PCC Exol board of directors in years:

1.1
Average Tenure
  • The average tenure for the PCC Exol board of directors is less than 3 years, this suggests a new board.
Board of Directors

Waldemar Preussner

TITLE
Chairman of the Supervisory Board
AGE
58
TENURE
1.1 yrs

Wieslaw Klimkowski

TITLE
Member of Supervisory Board
TENURE
11.1 yrs

Alfred Pelzer

TITLE
Member of the Supervisory Board
AGE
58
TENURE
6.8 yrs

Arkadiusz Szymanek

TITLE
Member of the Supervisory Board
TENURE
1.1 yrs

Robert Pabich

TITLE
Member of the Supervisory Board
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (PLN) Value (PLN)
X
Management checks
We assess PCC Exol'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. PCC Exol 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

Are PCC Exol S.A.’s (WSE:PCX) Returns Worth Your While?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Is PCC Exol SA's (WSE:PCX) High P/E Ratio A Problem For Investors?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at PCC Exol SA's (WSE:PCX) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

PCC Exol SA (WSE:PCX): Time For A Financial Health Check

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Assessing first and foremost the financial health is. … Here are a few basic checks that are good enough to have a broad overview of the company’s financial strength.

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How Does PCC Exol SA's (WSE:PCX) Earnings Growth Stack Up Against The Industry?

When PCC Exol SA's (WSE:PCX) announced its latest earnings (30 June 2018), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were PCC Exol's average earnings over the past couple of years, and its industry performance. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 28%, indicating the rate at which PCX is growing has slowed down

Simply Wall St -

How Did PCC Exol SA's (WSE:PCX) 7.5% ROE Fare Against The Industry?

and want to begin learning the link between company’s fundamentals and stock market performance. … PCC Exol SA (WSE:PCX) performed in-line with its commodity chemicals industry on the basis of its ROE – producing a return of7.5% relative to the peer average of 6.5% over the past 12 months. … Sustainability can be gauged by a company’s financial leverage – the more debt it has, the higher ROE is pumped up in the short term, at the expense of long term interest payment burden.

Simply Wall St -

Is PCC Exol SA (WSE:PCX) Attractive At This PE Ratio?

While PCX might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … I will break down what the P/E ratio is, how to interpret it and what to watch out for … Breaking down the Price-Earnings ratio

Simply Wall St -

Is PCC Exol Spólka Akcyjna's (WSE:PCX) Balance Sheet Strong Enough To Weather A Storm?

While small-cap stocks, such as PCC Exol Spólka Akcyjna (WSE:PCX) with its market cap of zł275.97m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Evaluating financial health as part of your investment thesis is

Simply Wall St -

Want To Invest In PCC Exol Spólka Akcyjna (WSE:PCX)? Here's How It Performed Lately

Examining PCC Exol Spólka Akcyjna's (WSE:PCX) past track record of performance is a useful exercise for investors. … Below, I will assess PCX's latest performance announced on 31 March 2018 and weight these figures against its longer term trend and industry movements. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 30.71%, indicating the rate at which PCX is growing has slowed down

Simply Wall St -

Why PCC Exol Spólka Akcyjna (WSE:PCX) Delivered An Inferior ROE Compared To The Industry

Check out our latest analysis for PCC Exol Spólka Akcyjna What you must know about ROE Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … For now, let’s just look at the cost of equity number for PCC Exol Spólka Akcyjna, which is 8.67%. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity WSE:PCX Last Perf Apr 23rd 18 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient the business is with its cost management.

Simply Wall St -

Is It Time To Sell PCC Exol Spólka Akcyjna (WSE:PCX) Based Off Its PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for PCX Price per share = PLN1.64 Earnings per share = PLN0.106 ∴ Price-Earnings Ratio = PLN1.64 ÷ PLN0.106 = 15.5x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … For example, if you accidentally compared lower growth firms with PCX, then PCX’s P/E would naturally be higher since investors would reward PCX’s higher growth with a higher price. … Alternatively, if you inadvertently compared riskier firms with PCX, PCX’s P/E would again be higher since investors would reward PCX’s lower risk with a higher price as well.

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Company Info

Map
Description

PCC Exol S.A. manufactures and sells surfactants in Poland and internationally. The company provides anionic and nonionic surfactants; chloralkali, raw materials, and intermediates; polyurethanes; and specialty products. It primarily serves household and industrial chemical, textile, plastic, industrial cleaning, metal working, and other industries. The company is headquartered in Brzeg Dolny, Poland. PCC Exol S.A. is a subsidiary of PCC SE.

Details
Name: PCC Exol S.A.
PCX
Exchange: WSE
Founded:
PLN269,075,623
172,484,374
Website: http://www.pcc-exol.eu
Address: PCC Exol S.A.
ul. Sienkiewicza 4,
Brzeg Dolny,
56-120,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE PCX Bearer Shares Warsaw Stock Exchange PL PLN 20. Sep 2012
LSE 0QA2 Bearer Shares London Stock Exchange GB PLN 20. Sep 2012
Number of employees
Current staff
Staff numbers
0
PCC Exol employees.
Industry
Commodity Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/15 22:26
End of day share price update: 2019/02/15 00:00
Last earnings filing: 2018/11/15
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.