WSE:PWX

Stock Analysis Report

Executive Summary

Polwax S.A. produces and distributes refined and deodorized paraffin, waxes, and specialty industrial paraffin compositions.

Rewards

PE ratio (1.9x) is below the Polish market (11.9x)

Risk Analysis

Earnings have declined by -9.34% per year over past 5 years

High level of non-cash earnings

Does not have a meaningful market cap (PLN31M)



Snowflake Analysis

Flawless balance sheet and fair value.

Share Price & News

How has Polwax's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PWX has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.0%

PWX

0.3%

PL Chemicals

-0.09%

PL Market


1 Year Return

-59.9%

PWX

-28.6%

PL Chemicals

-7.7%

PL Market

Return vs Industry: PWX underperformed the Polish Chemicals industry which returned -28.6% over the past year.

Return vs Market: PWX underperformed the Polish Market which returned -7.6% over the past year.


Shareholder returns

PWXIndustryMarket
7 Day-1.0%0.3%-0.09%
30 Day-0.3%-3.1%-1.8%
90 Day5.3%-1.9%-1.0%
1 Year-8.6%-59.9%-26.1%-28.6%-4.9%-7.7%
3 Year-61.0%-82.9%-42.1%-47.7%-4.4%-11.2%
5 Year-56.2%-83.1%-32.0%-40.7%3.0%-10.0%

Price Volatility Vs. Market

How volatile is Polwax's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Polwax undervalued compared to its fair value and its price relative to the market?

1.86x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate PWX's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate PWX's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: PWX is good value based on its PE Ratio (1.9x) compared to the Chemicals industry average (13.5x).

PE vs Market: PWX is good value based on its PE Ratio (1.9x) compared to the Polish market (11.9x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: PWX is good value based on its PB Ratio (0.2x) compared to the PL Chemicals industry average (0.7x).


Next Steps

Future Growth

How is Polwax forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-4.1%

Forecasted Materials industry annual growth in earnings


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 SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Polwax performed over the past 5 years?

-9.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PWX has a high level of non-cash earnings.

Growing Profit Margin: PWX's current net profit margins (7.1%) are higher than last year (5.7%).


Past Earnings Growth Analysis

Earnings Trend: PWX's earnings have declined by -9.3% per year over the past 5 years.

Accelerating Growth: PWX's earnings growth over the past year (6%) exceeds its 5-year average (-9.3% per year).

Earnings vs Industry: PWX earnings growth over the past year (6%) underperformed the Chemicals industry 38.4%.


Return on Equity

High ROE: PWX's Return on Equity (12.4%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

  • Explore strong past performing companies in the Materials industry.

Financial Health

How is Polwax's financial position?


Financial Position Analysis

Short Term Liabilities: PWX's short term assets (PLN136.2M) exceed its short term liabilities (PLN119.2M).

Long Term Liabilities: PWX's short term assets (PLN136.2M) exceed its long term liabilities (PLN6.1M).


Debt to Equity History and Analysis

Debt Level: PWX is debt free.

Reducing Debt: PWX has no debt compared to 5 years ago when its debt to equity ratio was 10.8%.

Debt Coverage: PWX has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: PWX has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

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

Debt Coverage by Assets: PWX's debt is not covered by short term assets (assets are -446.6x debt).


Next Steps

Dividend

What is Polwax's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%2.3%markettop25%6.7%industryaverage5.6%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate PWX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate PWX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PWX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PWX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: PWX is not paying a notable dividend for the Polish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PWX's dividend in 3 years as they are not forecast to pay a notable one for the Polish market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.8yrs

Average management tenure


CEO

Polwax has no CEO, or we have no data on them.


Leadership Team

NamePositionTenureCompensationOwnership
Dominik Tomczyk
President of the Management Board & General Director7.8yrsno datano data
Jacek Stelmach
Vice-President of the Management Board & Director of Operations6.8yrsno datano data
Piotr Kosinski
Vice-President of the Management Board & CFO7.8yrsno data2.07% PLN636.0k
Halina Kufel
Chief Accountant0yrsno datano data

7.8yrs

Average Tenure

Experienced Management: PWX's management team is seasoned and experienced (7.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Polwax S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Polwax S.A.
  • Ticker: PWX
  • Exchange: WSE
  • Founded: 2012
  • Industry: Specialty Chemicals
  • Sector: Materials
  • Market Cap: zł30.797m
  • Shares outstanding: 10.30m
  • Website: https://www.polwax.pl

Location

  • Polwax S.A.
  • 3 Maja 101
  • Jaslo
  • 38-200
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PWXWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNOct 2014
1LWDB (Deutsche Boerse AG)YesCommon Bearer SharesDEEUROct 2014
0R4DLSE (London Stock Exchange)YesCommon Bearer SharesGBPLNOct 2014

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/15 22:55
End of Day Share Price2020/02/14 00:00
Earnings2019/09/30
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.