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Polwax

WSE:PWX
Snowflake Description

Flawless balance sheet and undervalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PWX
WSE
PLN76M
Market Cap
  1. Home
  2. PL
  3. Materials
Company description

Polwax S.A. produces and distributes refined and deodorized paraffin, waxes, and specialty industrial paraffin compositions. The last earnings update was 99 days ago. More info.


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PWX Share Price and Events
7 Day Returns
-1.3%
WSE:PWX
2.7%
PL Chemicals
0.7%
PL Market
1 Year Returns
-32.5%
WSE:PWX
-16.8%
PL Chemicals
-5.7%
PL Market
PWX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Polwax (PWX) -1.3% 13.2% 6.1% -32.5% -55% -
PL Chemicals 2.7% 21.9% 31.2% -16.8% -34.8% -12.8%
PL Market 0.7% -0.2% 6.3% -5.7% 19% -6.6%
1 Year Return vs Industry and Market
  • PWX underperformed the Chemicals industry which returned -16.8% over the past year.
  • PWX underperformed the Market in Poland which returned -5.7% over the past year.
Price Volatility
PWX
Industry
5yr Volatility vs Market

Value

 Is Polwax 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 Polwax 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    Our calculation method for this is changing soon.

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

WSE:PWX 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:PWX
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 0.48
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.477 (1 + (1- 19%) (0.54%))
0.479
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:PWX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Polwax 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:PWX DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (PLN, Millions) 12.44 12.82 13.22 13.62 14.04
Source Est @ 3.08% Est @ 3.08% Est @ 3.08% Est @ 3.08% Est @ 3.08%
Present Value
Discounted (@ 8.57%)
11.46 10.88 10.33 9.81 9.31
Present value of next 5 years cash flows PLN51.78
WSE:PWX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= PLN14.04 × (1 + 2.85%) ÷ (8.57% – 2.85%)
PLN252.53
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= PLN252.53 ÷ (1 + 8.57%)5
PLN167.40
WSE:PWX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= PLN51.78 + PLN167.40
PLN219.18
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN219.18 / 10.30
PLN21.28
WSE:PWX Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN21.28
Current discount Discount to share price of PLN7.36
= -1 x (PLN7.36 - PLN21.28) / PLN21.28
65.4%

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

Current Discount
Amount off the current price Polwax is available for.
Intrinsic value
>50%
Share price is PLN7.36 vs Future cash flow value of PLN21.28
Current Discount Checks
For Polwax to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Polwax's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Polwax'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 Polwax's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Polwax's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:PWX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in PLN PLN1.52
WSE:PWX Share Price ** WSE (2019-02-22) in PLN PLN7.36
Poland Chemicals Industry PE Ratio Median Figure of 12 Publicly-Listed Chemicals Companies 12.77x
Poland Market PE Ratio Median Figure of 464 Publicly-Listed Companies 10.71x

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

** Primary Listing of Polwax.

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

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

= 7.36 ÷ 1.52

4.84x

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

  • Polwax is good value based on earnings compared to the PL Chemicals industry average.
  • Polwax is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does Polwax's expected growth come at a high price?
Raw Data
WSE:PWX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Chemicals Industry PEG Ratio Median Figure of 61 Publicly-Listed Chemicals Companies 2.05x
Poland Market PEG Ratio Median Figure of 101 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 Polwax, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Polwax's assets?
Raw Data
WSE:PWX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in PLN PLN11.40
WSE:PWX Share Price * WSE (2019-02-22) in PLN PLN7.36
Poland Chemicals Industry PB Ratio Median Figure of 17 Publicly-Listed Chemicals Companies 0.7x
Poland Market PB Ratio Median Figure of 689 Publicly-Listed Companies 1.01x
WSE:PWX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 7.36 ÷ 11.40

0.65x

* Primary Listing of Polwax.

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

  • Polwax is good value based on assets compared to the PL Chemicals industry average.
X
Value checks
We assess Polwax'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. Polwax has a total score of 5/6, 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 Polwax expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Polwax has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
21%
Expected Chemicals industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Polwax expected to grow at an attractive rate?
  • Unable to compare Polwax's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Polwax's earnings growth to the Poland market average as no estimate data is available.
  • Unable to compare Polwax's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:PWX Future Growth Rates Data Sources
Data Point Source Value (per year)
Poland Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 21%
Poland Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10%
Poland Market Revenue Growth Rate Market Cap Weighted Average 6.7%

*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:PWX 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:PWX Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2018-12-31 272 26 14 1
WSE:PWX Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-09-30 275 20 16
2018-06-30 271 15 14
2018-03-31 275 16 15
2017-12-31 283 25 17
2017-09-30 292 19 19
2017-06-30 288 16 20
2017-03-31 299 18 21
2016-12-31 295 21 21
2016-09-30 309 3 24
2016-06-30 296 16 24
2016-03-31 281 24 23
2015-12-31 281 32 24

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Polwax is high growth as no earnings estimate data is available.
  • Unable to determine if Polwax 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:PWX 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 Polwax Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:PWX Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2018-12-31
WSE:PWX Past Financials Data
Date (Data in PLN Millions) EPS *
2018-09-30 1.52
2018-06-30 1.41
2018-03-31 1.47
2017-12-31 1.67
2017-09-30 1.88
2017-06-30 1.92
2017-03-31 2.03
2016-12-31 2.04
2016-09-30 2.35
2016-06-30 2.39
2016-03-31 2.29
2015-12-31 2.35

*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 Polwax will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Polwax is trading at Polwax'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Polwax's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Materials companies here
  3. Polwax's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Polwax'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.
Polwax 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 Polwax 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 Polwax'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.
  • Polwax's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Polwax's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Polwax's 1-year earnings growth is negative, it can't be compared to the PL Chemicals industry average.
Earnings and Revenue History
Polwax'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 Polwax Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:PWX Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 275.19 15.66 25.60
2018-06-30 271.48 14.50 26.53
2018-03-31 274.68 15.16 26.08
2017-12-31 283.47 17.21 25.95
2017-09-30 292.13 19.44 24.88
2017-06-30 288.05 19.75 23.92
2017-03-31 298.75 20.86 23.72
2016-12-31 294.61 20.88 23.44
2016-09-30 308.82 23.83 24.49
2016-06-30 295.89 24.37 23.24
2016-03-31 280.89 23.29 22.75
2015-12-31 280.68 23.85 22.17
2015-09-30 261.92 22.31 21.26
2015-06-30 264.27 21.14 21.29
2015-03-31 266.57 22.21 20.82
2014-12-31 258.18 22.41 20.50
2014-09-30 263.21 24.67 20.10
2014-06-30 250.91 22.50 20.11
2014-03-31 243.59 21.20 19.47
2013-12-31 241.09 19.97 19.67
2012-12-31 260.48 19.41 20.55

*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.
  • Polwax has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Polwax used its assets more efficiently than the PL Chemicals industry average last year based on Return on Assets.
  • Polwax's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Polwax'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.
Polwax has a total score of 1/6, 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 Polwax'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 Polwax's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Polwax is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Polwax's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Polwax's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 339.4x 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 Polwax Company Filings, last reported 4 months ago.

WSE:PWX Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 117.44 0.41 3.42
2018-06-30 108.19 0.48 1.08
2018-03-31 105.71 13.86 1.22
2017-12-31 104.34 32.64 1.81
2017-09-30 101.78 7.38 2.91
2017-06-30 93.69 7.16 3.24
2017-03-31 90.55 0.41 3.02
2016-12-31 87.13 27.83 2.33
2016-09-30 82.34 0.40 2.53
2016-06-30 73.94 0.44 0.39
2016-03-31 80.43 0.47 6.77
2015-12-31 77.00 32.45 1.64
2015-09-30 69.26 0.59 0.75
2015-06-30 60.32 2.00 2.94
2015-03-31 69.42 3.41 7.57
2014-12-31 65.44 39.17 0.23
2014-09-30 59.22 6.23 2.10
2014-06-30 51.45 40.27 1.65
2014-03-31 53.01 67.44 2.39
2013-12-31 53.01 67.44 2.39
2012-12-31 37.05 53.45 1.60
  • Polwax's level of debt (0.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (130.4% vs 0.3% today).
  • Debt is well covered by operating cash flow (4906.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 37.3x coverage).
X
Financial health checks
We assess Polwax'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. Polwax has a total score of 6/6, 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 Polwax'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
0%
Current annual income from Polwax dividends.
If you bought PLN2,000 of Polwax shares you are expected to receive PLN0 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?
  • Unable to evaluate Polwax's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Polwax's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:PWX 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 5.9%
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 2.6%
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:PWX Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2018-12-31 0.00 1.00
WSE:PWX Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2018-04-05 0.000 0.000
2017-11-16 0.000 0.000
2017-09-06 0.000 0.000
2017-05-12 0.000 0.000
2017-03-28 0.000 0.000
2016-05-13 1.060 6.459
2016-03-01 1.060 6.124
2015-08-31 1.220 7.816
2015-03-18 1.220 6.772
2014-10-06 1.000 5.985

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

  • Unable to perform a dividend volatility check as Polwax has not reported any payouts.
  • Unable to verify if Polwax's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Polwax's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Polwax has not reported any payouts.
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 Polwax'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 Polwax afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Polwax has a total score of 0/6, 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 Polwax'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.
  • Polwax has no CEO, or we have no data on them.
Management Team Tenure

Average tenure of the Polwax management team in years:

6.8
Average Tenure
  • The average tenure for the Polwax management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Dominik Tomczyk

TITLE
President of the Management Board & General Director
TENURE
6.8 yrs

Jacek Stelmach

TITLE
Vice-President of the Management Board & Director of Operations
TENURE
5.8 yrs

Piotr Kosinski

TITLE
Vice-President of the Management Board & CFO
TENURE
6.8 yrs

Halina Kufel

TITLE
Chief Accountant
Board of Directors

Tomasz Biel

TITLE
Independent Vice-Chairman of the Supervisory Board

Monika Gaszewska

TITLE
Independent Member of the Supervisory Board
TENURE
6.8 yrs

Domagala Grzegorz

TITLE
Member of Supervisory Board

Nadolski Piotr

TITLE
Member of Supervisory Board

Jolanta Ilowska

TITLE
Member of the Supervisory Board
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 Polwax'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. Polwax 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

Why You Should Like Polwax S.A.’s (WSE:PWX) ROCE

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 amount of pre-tax profits a company can generate from the capital employed in its business.

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What Kind Of Investor Owns Most Of Polwax S.A. (WSE:PWX)?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … I generally like to see some degree of insider ownership, even if only a little. … Our analysis of the ownership of the company, below, shows that.

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Polwax S.A. (WSE:PWX): Should The Recent Earnings Drop Worry You?

Today I will assess PWX's recent performance announced on 30 September 2018 and evaluate these figures to its longer term trend and industry movements. … Was PWX's recent earnings decline indicative of a tough track record. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of -6.7%, indicating the rate at which PWX is growing has slowed down

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Does Polwax SA's (WSE:PWX) P/E Ratio Signal A Buying Opportunity?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Polwax SA's (WSE:PWX) 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)

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What Should Investors Know About Polwax SA's (WSE:PWX) Capital Returns?

This is because the actual cash flow generated by the business dictates the potential for income (dividends) and capital appreciation (price increases), which are the two ways to achieve positive returns when buying a stock. … To understand Polwax’s capital returns we will look at a useful metric called return on capital employed. … This will tell us if the company is growing your capital and placing you in good stead to sell your shares at a profit

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Polwax SA (WSE:PWX): Time For A Financial Health Check

However, an important fact which most ignore is: how financially healthy is the business? … So, understanding the company's financial health becomes. … Here are few basic financial health checks you should consider before taking the plunge.

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Should You Be Tempted To Sell Polwax SA (WSE:PWX) At Its Current PE Ratio?

But can investors make a closing judgement of the company’s value based on this low multiple. … The answer is no, since important variables like the company’s potential to grow and debt levels are ignored in the PE’s calculation … Below, I will lay out some important considerations to help determine which multiple best suits

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Is Polwax SA's (WSE:PWX) PE Ratio A Signal To Buy For Investors?

and want to begin learning the link between Polwax SA (WSE:PWX)’s fundamentals and stock market performance. … Polwax SA (WSE:PWX) is currently trading at a trailing P/E of 5.3x, which is lower than the industry average of 12.3x. … Although some investors may jump to the conclusion that this is a great buying opportunity, understanding the assumptions behind the P/E ratio might change your mind

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Why Fundamental Investors Love Polwax SA (WSE:PWX)

Attractive stocks have exceptional fundamentals. … is a company that has been able to sustain great financial health, trading at an attractive share price. … Below, I've touched on some key aspects you should know on a high level.

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Polwax SA.'s (WSE:PWX) Earnings Dropped -17.55%, How Did It Fare Against The Industry?

Assessing Polwax SA.'s (WSE:PWX) performance as a company requires looking at more than just a years' earnings data. … Below, I will run you through a simple sense check to build perspective on how Polwax is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its chemicals industry peers. … Revenue growth in the last few years, has been positive, however, earnings growth has failed to keep up meaning Polwax has been growing its expenses by a lot more.

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Company Info

Map
Description

Polwax S.A. produces and distributes refined and deodorized paraffin, waxes, and specialty industrial paraffin compositions. The company also offers anti-corrosion agents, anti-caking agents, casting waxes, hot-melt adhesives, and other industrial products, as well as candles and grave lights. Its products are used in fertilizer, rubber, food, and paper and packaging industries; the production of varnishes, paints, and construction materials; and the manufacture of wood impregnations, explosives, candles, and grave lights, as well as in investment casting and wood processing activities, and other special applications. Polwax S.A. was founded in 2012 and is based in Jaslo, Poland.

Details
Name: Polwax S.A.
PWX
Exchange: WSE
Founded: 2012
PLN75,808,000
10,300,000
Website: http://www.polwax.pl
Address: Polwax S.A.
3 Maja 101,
Jaslo,
38-200,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE PWX Common Bearer Shares Warsaw Stock Exchange PL PLN 06. Oct 2014
DB 1LW Common Bearer Shares Deutsche Boerse AG DE EUR 06. Oct 2014
LSE 0R4D Common Bearer Shares London Stock Exchange GB PLN 06. Oct 2014
Number of employees
Current staff
Staff numbers
0
Polwax employees.
Industry
Specialty Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/23 22:31
End of day share price update: 2019/02/22 00:00
Last estimates confirmation: 2018/12/13
Last earnings filing: 2018/11/16
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.