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Pfleiderer Group Spólka Akcyjna

WSE:PFL
Snowflake Description

Moderate growth potential unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PFL
WSE
PLN1B
Market Cap
  1. Home
  2. PL
  3. Materials
Company description

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. The last earnings update was 7 days ago. More info.


Add to Portfolio Compare Print
  • Pfleiderer Group Spólka Akcyjna has significant price volatility in the past 3 months.
PFL Share Price and Events
7 Day Returns
-0.8%
WSE:PFL
-3.8%
PL Forestry
-0.2%
PL Market
1 Year Returns
-30.7%
WSE:PFL
-34%
PL Forestry
-2.2%
PL Market
PFL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pfleiderer Group Spólka Akcyjna (PFL) -0.8% 11.9% -23.8% -30.7% -19.4% -5.7%
PL Forestry -3.8% -2% -20.8% -34% -22.6% -5.2%
PL Market -0.2% -0.1% 1.3% -2.2% 12.4% -3.8%
1 Year Return vs Industry and Market
  • PFL outperformed the Forestry industry which returned -34% over the past year.
  • PFL underperformed the Market in Poland which returned -2.2% over the past year.
Price Volatility
PFL
Industry
5yr Volatility vs Market

Value

 Is Pfleiderer Group 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 Pfleiderer Group 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 Pfleiderer Group Spólka Akcyjna.

WSE:PFL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 17.1%
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:PFL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Forestry Unlevered Beta Simply Wall St/ S&P Global 1.29
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.288 (1 + (1- 19%) (153.35%))
2.265
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (2 * 7.14%)
17.13%

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

The calculations below outline how an intrinsic value for Pfleiderer Group 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:PFL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 17.13%)
2019 47.62 Analyst x4 40.65
2020 44.85 Analyst x4 32.69
2021 53.62 Analyst x3 33.37
2022 55.05 Analyst x1 29.25
2023 58.05 Analyst x1 26.33
2024 60.70 Est @ 4.57% 23.51
2025 63.17 Est @ 4.06% 20.88
2026 65.50 Est @ 3.69% 18.49
2027 67.76 Est @ 3.44% 16.33
2028 69.97 Est @ 3.26% 14.40
Present value of next 10 years cash flows €255.89
WSE:PFL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €69.97 × (1 + 2.85%) ÷ (17.13% – 2.85%)
€503.93
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €503.93 ÷ (1 + 17.13%)10
€103.68
WSE:PFL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €255.89 + €103.68
€359.57
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €359.57 / 51.76
€6.95
WSE:PFL Discount to Share Price
Calculation Result
Exchange Rate EUR/PLN
(Reporting currency to currency of WSE:PFL)
4.272
Value per Share
(PLN)
= Value per Share in EUR x Exchange Rate (EUR/PLN)
= €6.95 x 4.272
PLN29.68
Value per share (PLN) From above. PLN29.68
Current discount Discount to share price of PLN25.30
= -1 x (PLN25.30 - PLN29.68) / PLN29.68
14.8%

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

Current Discount
Amount off the current price Pfleiderer Group Spólka Akcyjna is available for.
Intrinsic value
15%
Share price is PLN25.3 vs Future cash flow value of PLN29.68
Current Discount Checks
For Pfleiderer Group Spólka Akcyjna to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pfleiderer Group Spólka Akcyjna's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Pfleiderer Group 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 Pfleiderer Group Spólka Akcyjna's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pfleiderer Group Spólka Akcyjna's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:PFL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.10
WSE:PFL Share Price ** WSE (2019-04-17) in PLN PLN25.3
WSE:PFL Share Price converted to EUR reporting currency Exchange rate (PLN/ EUR) 0.234 €5.92
Poland Forestry Industry PE Ratio Median Figure of 8 Publicly-Listed Forestry Companies 20.69x
Poland Market PE Ratio Median Figure of 458 Publicly-Listed Companies 11.23x

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

** Primary Listing of Pfleiderer Group Spólka Akcyjna.

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

= WSE:PFL Share Price ÷ EPS (both in EUR)

= 5.92 ÷ 0.10

57x

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

  • Pfleiderer Group Spólka Akcyjna is overvalued based on earnings compared to the PL Forestry industry average.
  • Pfleiderer Group Spólka Akcyjna is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does Pfleiderer Group Spólka Akcyjna's expected growth come at a high price?
Raw Data
WSE:PFL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 57x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
52.3%per year
Europe Forestry Industry PEG Ratio Median Figure of 21 Publicly-Listed Forestry Companies 1.06x
Poland Market PEG Ratio Median Figure of 114 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 57x ÷ 52.3%

1.09x

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

  • Pfleiderer Group Spólka Akcyjna is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Pfleiderer Group Spólka Akcyjna's assets?
Raw Data
WSE:PFL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €2.57
WSE:PFL Share Price * WSE (2019-04-17) in PLN PLN25.3
WSE:PFL Share Price converted to EUR reporting currency Exchange rate (PLN/ EUR) 0.234 €5.92
Poland Forestry Industry PB Ratio Median Figure of 8 Publicly-Listed Forestry Companies 0.69x
Poland Market PB Ratio Median Figure of 687 Publicly-Listed Companies 1.01x
WSE:PFL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WSE:PFL Share Price ÷ Book Value per Share (both in EUR)

= 5.92 ÷ 2.57

2.3x

* Primary Listing of Pfleiderer Group Spólka Akcyjna.

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

  • Pfleiderer Group Spólka Akcyjna is overvalued based on assets compared to the PL Forestry industry average.
X
Value checks
We assess Pfleiderer Group 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 Forestry 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 Forestry industry average (and greater than 0)? (1 check)
  5. Pfleiderer Group Spólka Akcyjna has a total score of 0/6, 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 Pfleiderer Group Spólka Akcyjna expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

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
52.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pfleiderer Group Spólka Akcyjna expected to grow at an attractive rate?
  • Pfleiderer Group Spólka Akcyjna's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Pfleiderer Group Spólka Akcyjna's earnings growth is expected to exceed the Poland market average.
  • Pfleiderer Group Spólka Akcyjna's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:PFL Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:PFL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 52.3%
WSE:PFL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 1.5%
Poland Forestry Industry Earnings Growth Rate Market Cap Weighted Average 41.6%
Europe Forestry Industry Revenue Growth Rate Market Cap Weighted Average 2%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.1%
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
Raw Data
WSE:PFL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:PFL Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,125 1
2022-12-31 1,113 1
2021-12-31 1,128 116 40 3
2020-12-31 1,116 109 39 5
2019-12-31 1,068 117 23 3
WSE:PFL Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,062 72 6
2018-09-30 1,055 108 14
2018-06-30 1,034 125 4
2018-03-31 1,023 140 14
2017-12-31 1,006 133 17
2017-09-30 985 118 17
2017-06-30 977 118 26
2017-03-31 966 121 21
2016-12-31 930 123 15
2016-09-30 791 109 24
2016-06-30 643 83 19
2016-03-31 493 61 24

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pfleiderer Group Spólka Akcyjna's earnings are expected to grow significantly at over 20% yearly.
  • Pfleiderer Group Spólka Akcyjna's revenue is expected to grow by 1.5% 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:PFL 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 5 Analyst Estimates (S&P Global) See Below

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

WSE:PFL Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31
WSE:PFL Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.10
2018-09-30 0.23
2018-06-30 0.07
2018-03-31 0.22
2017-12-31 0.27
2017-09-30 0.27
2017-06-30 0.41
2017-03-31 0.32
2016-12-31 0.23
2016-09-30 0.39
2016-06-30 0.34
2016-03-31 0.46

*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.
  • Pfleiderer Group Spólka Akcyjna is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Pfleiderer Group 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 Europe 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.
Pfleiderer Group Spólka Akcyjna 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.

Past Performance

  How has Pfleiderer Group 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 Pfleiderer Group Spólka Akcyjna's growth in the last year to its industry (Forestry).
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.
  • Pfleiderer Group Spólka Akcyjna's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Pfleiderer Group Spólka Akcyjna's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Pfleiderer Group Spólka Akcyjna's 1-year earnings growth is negative, it can't be compared to the PL Forestry industry average.
Earnings and Revenue History
Pfleiderer Group 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 Pfleiderer Group Spólka Akcyjna Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:PFL Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,062.47 5.91 181.32
2018-09-30 1,055.18 13.67 176.97
2018-06-30 1,033.55 4.29 180.62
2018-03-31 1,022.75 14.11 182.78
2017-12-31 1,006.40 17.14 183.76
2017-09-30 984.69 17.27 183.69
2017-06-30 977.16 26.26 175.97
2017-03-31 966.48 20.83 171.39
2016-12-31 929.59 14.75 160.95
2016-09-30 790.67 23.52 131.07
2016-06-30 642.69 19.45 102.39
2016-03-31 493.48 24.13 69.29
2015-12-31 374.16 26.81 42.93
2015-09-30 367.33 26.27 41.61
2015-06-30 367.87 27.21 40.83
2015-03-31 372.33 27.29 40.58
2014-12-31 355.11 24.08 39.03
2014-09-30 367.12 24.60 39.19
2014-06-30 371.38 23.08 38.68
2014-03-31 360.85 17.57 38.09
2013-12-31 351.94 13.24 38.14
2013-09-30 344.65 11.06 39.80
2013-06-30 331.70 7.46 39.15
2013-03-31 340.93 7.91 40.24
2012-12-31 350.40 7.49 39.93
2012-09-30 294.70 9.86 30.12
2012-06-30 306.78 10.04 30.21

*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.
  • Pfleiderer Group Spólka Akcyjna has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pfleiderer Group Spólka Akcyjna used its assets less efficiently than the PL Forestry industry average last year based on Return on Assets.
  • Pfleiderer Group Spólka Akcyjna's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Pfleiderer Group 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 Forestry 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.
Pfleiderer Group Spólka Akcyjna 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.

Health

 How is Pfleiderer Group 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 Pfleiderer Group Spólka Akcyjna's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pfleiderer Group Spólka Akcyjna's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Pfleiderer Group Spólka Akcyjna's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Pfleiderer Group 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 not covered by short term assets, assets are 0.4x 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 Pfleiderer Group Spólka Akcyjna Company Filings, last reported 3 months ago.

WSE:PFL Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 133.27 470.05 33.78
2018-09-30 148.52 457.83 41.67
2018-06-30 208.03 370.86 50.37
2018-03-31 227.92 367.92 57.58
2017-12-31 234.47 376.74 84.17
2017-09-30 274.89 363.63 86.20
2017-06-30 275.99 366.98 97.22
2017-03-31 285.08 358.04 87.17
2016-12-31 271.26 373.45 97.73
2016-09-30 271.26 362.45 77.07
2016-06-30 262.40 365.67 82.44
2016-03-31 277.75 357.51 69.57
2015-12-31 279.15 14.69 20.72
2015-09-30 197.96 23.04 5.01
2015-06-30 195.81 26.41 5.81
2015-03-31 195.27 28.66 5.59
2014-12-31 176.38 35.25 4.32
2014-09-30 174.18 42.63 6.76
2014-06-30 168.96 45.88 7.49
2014-03-31 161.41 53.55 5.13
2013-12-31 157.00 46.21 3.96
2013-09-30 176.71 58.90 25.45
2013-06-30 166.87 64.09 30.79
2013-03-31 170.34 67.64 32.05
2012-12-31 143.16 178.23 4.29
2012-09-30 140.93 237.58 8.05
2012-06-30 134.79 250.11 8.05
  • Pfleiderer Group Spólka Akcyjna's level of debt (352.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (29.5% vs 352.7% today).
  • Debt is not well covered by operating cash flow (15.2%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.7x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Pfleiderer Group 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. Pfleiderer Group Spólka Akcyjna has a total score of 0/6, 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 Pfleiderer Group 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
4.6%
Current annual income from Pfleiderer Group Spólka Akcyjna dividends. Estimated to be 3.43% next year.
If you bought PLN2,000 of Pfleiderer Group Spólka Akcyjna shares you are expected to receive PLN92 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?
  • Pfleiderer Group Spólka Akcyjna's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.74%).
  • Pfleiderer Group Spólka Akcyjna's dividend is below the markets top 25% of dividend payers in Poland (7.56%).
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:PFL 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 5 Analyst Estimates (S&P Global) See Below
Europe Forestry Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 4.1%
Poland Market Average Dividend Yield Market Cap Weighted Average of 207 Stocks 3.3%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.3%
Poland Bottom 25% Dividend Yield 25th Percentile 2.7%
Poland Top 25% Dividend Yield 75th Percentile 7.6%

Industry and Market average data is calculated daily.

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

WSE:PFL Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.28 2.00
2020-12-31 0.25 3.00
2019-12-31 0.06 2.00
WSE:PFL Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-05-11 0.273 3.716
2017-05-11 0.255 2.758
2016-08-11 0.230 2.640
2016-03-21 0.224 3.370
2009-09-01 0.000 0.000
2009-08-24 0.000 0.000
2009-05-14 0.000 0.000
2009-04-29 0.000 0.000
2009-04-20 0.631 33.068

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Pfleiderer Group Spólka Akcyjna's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Pfleiderer Group Spólka Akcyjna's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 Pfleiderer Group Spólka Akcyjna afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pfleiderer Group 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.

Management

 What is the CEO of Pfleiderer Group 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
Tom Schäbinger
COMPENSATION €0
AGE 56
TENURE AS CEO 1.8 years
CEO Bio

Mr. Thomas K. Schäbinger also known as Tom, serves as Chief Executive Officer, Coating & Release of Mondi Packaging Ltd. and Mondi Packaging (UK) Ltd. Mr. Schäbinger serves Chief Executive Officer of Flexibles at Mondi AG. He has been the President of the Management Board and Chief Executive Officer at Pfleiderer Group Spólka Akcyjna since June 01, 2017. Mr. Sch-binger has been Chief Executive Officer at Bundy Refrigeration Group (cooling technology provider) since 2015. He has been managing partner of TS TRUST GmbH (a capital investment company) since 2014. Between 1998 and 2014 he held several positions in Mondi Europe and International (formerly known as Frantschach - a packaging and paper group with global operations), including several positions as Chief Executive Officer. Previously, he worked in various management positions including at Unilever and at Beiersdorf. Mr. Schäbinger is a graduate of the Vienna University of Economies & Business. In 1989, he graduated in Studies of Business Administration and Secondary School for Mechanical Engineering in St. P-lten. In 1982, he graduated with distinction as Engineer (Ingenieur).

CEO Compensation
  • Insufficient data for Tom to compare compensation growth.
  • Tom's remuneration is higher than average for companies of similar size in Poland.
Management Team

Tom Schäbinger

TITLE
President of the Management Board & CEO
AGE
56
TENURE
1.8 yrs

Nico Reiner

TITLE
CFO & Member of the Management Board
AGE
49
TENURE
1 yrs

Ewa Stanska

TITLE
Director of Accounting & Tax Department Capital Group

Wojciech Kalinowski

TITLE
Deputy Finance Director and Head of Treasury

Tomasz Zowade

TITLE
President of Silekol SP ZOO

Krzysztof Brzostek

TITLE
President of Jura Polska SP ZOO
Board of Directors Tenure

Average tenure and age of the Pfleiderer Group Spólka Akcyjna board of directors in years:

3.2
Average Tenure
52.5
Average Age
  • The tenure for the Pfleiderer Group Spólka Akcyjna board of directors is about average.
Board of Directors

Zbigniew Prokopowicz

TITLE
Chairman of Supervisory Board
AGE
51
TENURE
2.8 yrs

Michael Keppel

TITLE
Vice Chairman of Supervisory Board
AGE
54
TENURE
4.2 yrs

Krzysztof Sedzikowski

TITLE
Member of Supervisory Board
AGE
59
TENURE
3.2 yrs

Jan Wozniak

TITLE
Member of the Supervisory Board
AGE
47
TENURE
9.3 yrs

Anthony O'Carroll

TITLE
Member of the Supervisory Board
TENURE
5.8 yrs

John Brantl

TITLE
Member of Supervisory Board
TENURE
0.2 yrs

Julian Von Martius

TITLE
Member of Supervisory Board
TENURE
0.2 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 Pfleiderer Group 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. Pfleiderer Group 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.

News

Simply Wall St News

Calculating The Intrinsic Value Of Pfleiderer Group Spólka Akcyjna (WSE:PFL)

This is done using the Discounted Cash Flow (DCF) model! … 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. … We use what is known as a 2-stage model, which simply means we have two different periods of growth rates for the company's cash flows

Simply Wall St -

Evaluating Pfleiderer Group Spólka Akcyjna’s (WSE:PFL) Investments In Its Business

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … 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 -

Does Pfleiderer Group Spólka Akcyjna (WSE:PFL) Create Value For Shareholders?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … To keep the lesson grounded in practicality, we'll use ROE to better understand Pfleiderer Group Spólka Akcyjna (WSE:PFL). … Our data shows Pfleiderer Group Spólka Akcyjna has a return on equity of 9.2% for the last year.

Simply Wall St -

Should You Be Tempted To Sell Pfleiderer Group Spólka Akcyjna (WSE:PFL) Because Of Its P/E Ratio?

To keep it practical, we'll show how Pfleiderer Group Spólka Akcyjna's (WSE:PFL) P/E ratio could help you assess the value on offer. … Pfleiderer Group Spólka Akcyjna has a P/E ratio of 33.68, based on the last twelve months. … Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS)

Simply Wall St -

How Much Of Pfleiderer Group Spólka Akcyjna (WSE:PFL) Do Institutions Own?

A look at the shareholders of Pfleiderer Group Spólka Akcyjna (WSE:PFL) can tell us which group is most powerful. … Generally speaking, as a company grows, institutions will increase their ownership. … Pfleiderer Group Spólka Akcyjna is a smaller company with a market capitalization of zł1.6b, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Is There An Opportunity With Pfleiderer Group Spólka Akcyjna's (WSE:PFL) 40.02% Undervaluation?

by taking the expected future cash flows and discounting them to their present value. … discounted cash flows (DCF). … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

What Should Investors Know About Pfleiderer Group Spólka Akcyjna's (WSE:PFL) Return On Capital?

Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Pfleiderer Group Spólka Akcyjna’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Read This Before Judging Pfleiderer Group Spólka Akcyjna's (WSE:PFL) ROE

By way of learning-by-doing, we'll look at ROE to gain a better understanding Pfleiderer Group Spólka Akcyjna (WSE:PFL). … Pfleiderer Group Spólka Akcyjna has a ROE of 2.1%, based on the last twelve months. … See our latest analysis for Pfleiderer Group Spólka Akcyjna?

Simply Wall St -

Should You Buy Pfleiderer Group Spólka Akcyjna (WSE:PFL) For Its Dividend?

Historically, Pfleiderer Group Spólka Akcyjna (WSE:PFL) has been paying a dividend to shareholders. … Does Pfleiderer Group Spólka Akcyjna tick all the boxes of a great dividend stock? … View our latest analysis for Pfleiderer Group Spólka Akcyjna

Simply Wall St -

Should Pfleiderer Group Spólka Akcyjna's (WSE:PFL) Recent Earnings Worry You?

Understanding Pfleiderer Group Spólka Akcyjna's (WSE:PFL) performance as a company requires examining more than earnings from one point in time. … Today I will take you through a basic sense check to gain perspective on how Pfleiderer Group Spólka Akcyjna is doing by evaluating its latest earnings with its longer term trend as well as its industry peers' performance over the same period. … See our latest analysis for Pfleiderer Group Spólka Akcyjna?

Simply Wall St -

Company Info

Description

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 laminated boards, edge bandings, pyroex non-inflammable laminated boards, worktops, HPL laminates, HDF lacquered boards, raw HDF boards, finish foils, construction chipboards, melamine-faced chipboards, artificial plasters, and other wood-based materials. The company also provides dyes and pigments, paints and varnishes, glues, gelatins, and other organic and inorganic chemicals; and generates and distributes heat. In addition, it is involved in the paper finishing activities; road transport of goods with specialized and universal vehicles; lease of trucks; and investment –related activities. The company was formerly known as Pfleiderer Grajewo S.A. and changed its name to Pfleiderer Group Spólka Akcyjna in September 2016. Pfleiderer Group Spólka Akcyjna is based in Grajewo, Poland.

Details
Name: Pfleiderer Group Spólka Akcyjna
PFL
Exchange: WSE
Founded:
PLN1,309,548,391
51,760,806
Website: http://www.pfleiderer.com/pl
Address: Pfleiderer Group Spólka Akcyjna
ul. Wiórowa 1,
Grajewo,
19-203,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE PFL Ordinary Bearer Shares Warsaw Stock Exchange PL PLN 15. May 1997
DB 1PG Ordinary Bearer Shares Deutsche Boerse AG DE EUR 15. May 1997
LSE 0LU1 Ordinary Bearer Shares London Stock Exchange GB PLN 15. May 1997
Number of employees
Current staff
Staff numbers
3,735
Pfleiderer Group Spólka Akcyjna employees.
Industry
Forest Products
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 20:56
End of day share price update: 2019/04/17 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/04/10
Last earnings reported: 2018/12/31
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.