WSE:PFL

Stock Analysis Report

Pfleiderer Group Spólka Akcyjna

Executive Summary

Pfleiderer Group Spólka Akcyjna engages in the manufacture and veneering of wood and wood-based products for furniture, interior, and construction industries in Poland and internationally.

Snowflake

Fundamentals

Unattractive dividend payer and overvalued.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

PFL

0.5%

PL Forestry

1.2%

PL Market


1 Year Return

-16.0%

PFL

-13.0%

PL Forestry

-3.7%

PL Market

Return vs Industry: PFL underperformed the Polish Forestry industry which returned -13% over the past year.

Return vs Market: PFL underperformed the Polish Market which returned -3.7% over the past year.


Shareholder returns

PFLIndustryMarket
7 Day0%0.5%1.2%
30 Day0%0.8%-2.9%
90 Day-1.9%2.2%-6.8%
1 Year-16.0%-16.0%-13.0%-13.0%-0.8%-3.7%
3 Year-19.1%-23.6%-19.8%-23.9%11.5%3.5%
5 Year-1.5%-10.3%-4.1%-11.4%-0.9%-12.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Pfleiderer Group Spólka Akcyjna undervalued compared to its fair value and its price relative to the market?

23.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: PFL (PLN26.2) is trading below our estimate of fair value (PLN34.31)

Significantly Undervalued: PFL is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: PFL is unprofitable, so we can't compare its PE Ratio to the Forestry industry average.

PE vs Market: PFL is unprofitable, so we can't compare its PE Ratio to the Polish market.


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate PFL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PFL is overvalued based on its PB Ratio (2.7x) compared to the PL Forestry industry average (0.7x).


Next Steps

Future Growth

How is Pfleiderer Group Spólka Akcyjna forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

71.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PFL is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: PFL is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: PFL is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: PFL's revenue (2.8% per year) is forecast to grow slower than the Polish market (5.9% per year).

High Growth Revenue: PFL's revenue (2.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: PFL's Return on Equity is forecast to be low in 3 years time (19.1%).


Next Steps

Past Performance

How has Pfleiderer Group Spólka Akcyjna performed over the past 5 years?

-31.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PFL is unprofitable, and losses have increased over the past 5 years at a rate of -31.3% per year.

Accelerating Growth: Unable to compare PFL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PFL is unprofitable, making it difficult to compare its past year earnings growth to the Forestry industry (-7.6%).


Return on Equity

High ROE: PFL has a negative Return on Equity (-9.28%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: PFL is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: PFL is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Pfleiderer Group Spólka Akcyjna's financial position?


Financial Position Analysis

Short Term Liabilities: PFL's short term assets (€186.9M) do not cover its short term liabilities (€242.2M)

Long Term Liabilities: PFL's short term assets (186.9M) do not cover its long term liabilities (570.9M)


Debt to Equity History and Analysis

Debt Level: PFL's debt to equity ratio (405.2%) is considered high

Reducing Debt: PFL's debt to equity ratio has increased from 27.1% to 405.2% over the past 5 years.

Debt Coverage: PFL's debt is not well covered by operating cash flow (15%).

Interest Coverage: PFL is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet

Inventory Level: PFL has a high level of physical assets or inventory.

Debt Coverage by Assets: PFL's debt is not covered by short term assets (assets are 0.4x debt).


Next Steps

Dividend

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

4.46%

Current Dividend Yield


Dividend Yield vs Market

company4.5%marketbottom25%2.6%markettop25%7.2%industryaverage4.4%forecastin3Years2.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: PFL's dividend (4.46%) is higher than the bottom 25% of dividend payers in the Polish market (2.56%).

High Dividend: PFL's dividend (4.46%) is low compared to the top 25% of dividend payers in the Polish market (7.2%).

Stable Dividend: Whilst dividend payments have been stable, PFL has been paying a dividend for less than 10 years.

Growing Dividend: PFL's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: PFL is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: PFL's dividends in 3 years are forecast to be well covered by earnings (33.1% payout ratio).


Next Steps

Management

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

0.4yrs

Average management tenure


CEO

Zbigniew Prokopowicz (52yo)

0yrs

Tenure

0

Mr. Zbigniew Prokopowicz serves as Interim President of Management Board of Pfleiderer Group Spólka Akcyjna from September 11, 2019 and serves as its Chief Executive Officer. He has been its Chairman of Su ...


Management Age and Tenure

0.4yrs

Average Tenure

Experienced Management: PFL's management team is not considered experienced ( 0.4 years average tenure), which suggests a new team.


Board Age and Tenure

4.2yrs

Average Tenure

53.5yo

Average Age

Experienced Board: PFL's board of directors are considered experienced (4.2 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Krzysztof Brzostek

    President of Jura Polska SP ZOO

    • Tenure: 0yrs
  • Tomasz Zowade

    President of Silekol SP ZOO

    • Tenure: 0yrs
  • Frank Herrmann

    Member of Management Board & COO

    • Tenure: 0.4yrs
  • Ewa Stanska

    Director of Accounting & Tax Department Capital Group

    • Tenure: 0yrs
  • Wojciech Kalinowski

    Deputy Finance Director and Head of Treasury

    • Tenure: 0yrs
  • Zbigniew Prokopowicz (52yo)

    Interim President of Management Board

    • Tenure: 0yrs
  • Nico Reiner (50yo)

    CFO & Member of the Management Board

    • Tenure: 1.5yrs
  • Stefan Zinn

    Member of Management Board & Chief Commercial Officer

    • Tenure: 0.4yrs
  • Bartek Godlewski

    Director of Investor Relations

    • Tenure: 0yrs

Board Members

  • Michael Keppel (55yo)

    Vice Chairman of Supervisory Board

    • Tenure: 4.7yrs
  • Jan Wozniak (48yo)

    Member of the Supervisory Board

    • Tenure: 9.8yrs
  • Zbigniew Prokopowicz (52yo)

    Interim President of Management Board

    • Tenure: 0yrs
  • Krzysztof Sedzikowski (60yo)

    Member of Supervisory Board

    • Tenure: 3.7yrs
  • Anthony O'Carroll

    Member of the Supervisory Board

    • Tenure: 6.3yrs
  • Julian Von Martius

    Member of Supervisory Board

    • Tenure: 0.7yrs
  • John Brantl

    Deputy Chairman of the Supervisory Board

    • Tenure: 0yrs

Company Information

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


Key Information

  • Name: Pfleiderer Group Spólka Akcyjna
  • Ticker: PFL
  • Exchange: WSE
  • Founded:
  • Industry: Forest Products
  • Sector: Materials
  • Market Cap: zł1.356b
  • Shares outstanding: 51.76m
  • Website: https://www.pfleiderer.com/pl

Number of Employees


Location

  • Pfleiderer Group Spólka Akcyjna
  • ul. Wiórowa 1
  • Grajewo
  • 19-203
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PFLWSE (Warsaw Stock Exchange)YesOrdinary Bearer SharesPLPLNMay 1997
1PGDB (Deutsche Boerse AG)YesOrdinary Bearer SharesDEEURMay 1997

Biography

Pfleiderer Group Spólka Akcyjna engages in the manufacture and veneering of wood and wood-based products for furniture, interior, and construction industries in Poland and internationally. It offers lamina ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 20:43
End of Day Share Price2019/09/13 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.