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Fabryka Farb i Lakierów Sniezka

WSE:SKA
Snowflake Description

Flawless balance sheet with solid track record.

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

Fabryka Farb i Lakierów Sniezka SA manufactures and sells paints, varnishes, and emulsions in Poland. The last earnings update was 19 days ago. More info.


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SKA Share Price and Events
7 Day Returns
6.7%
WSE:SKA
1.4%
PL Chemicals
-0.2%
PL Market
1 Year Returns
33.8%
WSE:SKA
-16.7%
PL Chemicals
-2.2%
PL Market
SKA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Fabryka Farb i Lakierów Sniezka (SKA) 6.7% 8.6% 21% 33.8% 61.2% 163.2%
PL Chemicals 1.4% -5.7% 13.2% -16.7% -37.6% -16%
PL Market -0.2% -0.1% 1.3% -2.2% 12.4% -3.8%
1 Year Return vs Industry and Market
  • SKA outperformed the Chemicals industry which returned -16.7% over the past year.
  • SKA outperformed the Market in Poland which returned -2.2% over the past year.
Price Volatility
SKA
Industry
5yr Volatility vs Market

SKA Value

 Is Fabryka Farb i Lakierów Sniezka 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 Fabryka Farb i Lakierów Sniezka 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 Fabryka Farb i Lakierów Sniezka.

WSE:SKA 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 9.9%
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:SKA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.93
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.931 (1 + (1- 19%) (5.46%))
0.982
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.98
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (0.982 * 7.14%)
9.86%

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

The calculations below outline how an intrinsic value for Fabryka Farb i Lakierów Sniezka 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:SKA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 9.86%)
2019 39.57 Est @ 10.02% 36.02
2020 42.68 Est @ 7.87% 35.37
2021 45.40 Est @ 6.36% 34.24
2022 47.81 Est @ 5.31% 32.82
2023 49.99 Est @ 4.57% 31.24
2024 52.02 Est @ 4.05% 29.59
2025 53.94 Est @ 3.69% 27.93
2026 55.80 Est @ 3.44% 26.30
2027 57.62 Est @ 3.26% 24.72
2028 59.43 Est @ 3.14% 23.21
Present value of next 10 years cash flows PLN301.43
WSE:SKA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN59.43 × (1 + 2.85%) ÷ (9.86% – 2.85%)
PLN871.99
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN871.99 ÷ (1 + 9.86%)10
PLN340.53
WSE:SKA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN301.43 + PLN340.53
PLN641.96
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN641.96 / 12.62
PLN50.88
WSE:SKA Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN50.88
Current discount Discount to share price of PLN95.00
= -1 x (PLN95.00 - PLN50.88) / PLN50.88
-86.7%

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

  • The current share price of Fabryka Farb i Lakierów Sniezka is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Fabryka Farb i Lakierów Sniezka's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Fabryka Farb i Lakierów Sniezka's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:SKA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN4.88
WSE:SKA Share Price ** WSE (2019-04-17) in PLN PLN95
Poland Chemicals Industry PE Ratio Median Figure of 12 Publicly-Listed Chemicals Companies 14.18x
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 Fabryka Farb i Lakierów Sniezka.

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

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

= 95 ÷ 4.88

19.45x

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

  • Fabryka Farb i Lakierów Sniezka is overvalued based on earnings compared to the PL Chemicals industry average.
  • Fabryka Farb i Lakierów Sniezka is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does Fabryka Farb i Lakierów Sniezka's expected growth come at a high price?
Raw Data
WSE:SKA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 19.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-20.5%per year
Poland Chemicals Industry PEG Ratio Median Figure of 6 Publicly-Listed Chemicals Companies 0.76x
Poland Market PEG Ratio Median Figure of 114 Publicly-Listed Companies 1.17x

*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 Fabryka Farb i Lakierów Sniezka, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Fabryka Farb i Lakierów Sniezka's assets?
Raw Data
WSE:SKA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN20.80
WSE:SKA Share Price * WSE (2019-04-17) in PLN PLN95
Poland Chemicals Industry PB Ratio Median Figure of 17 Publicly-Listed Chemicals Companies 0.64x
Poland Market PB Ratio Median Figure of 687 Publicly-Listed Companies 1.01x
WSE:SKA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 95 ÷ 20.80

4.57x

* Primary Listing of Fabryka Farb i Lakierów Sniezka.

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

  • Fabryka Farb i Lakierów Sniezka is overvalued based on assets compared to the PL Chemicals industry average.
X
Value checks
We assess Fabryka Farb i Lakierów Sniezka'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. Fabryka Farb i Lakierów Sniezka 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.

SKA Future Performance

 How is Fabryka Farb i Lakierów Sniezka expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Fabryka Farb i Lakierów Sniezka, 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
-20.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Fabryka Farb i Lakierów Sniezka expected to grow at an attractive rate?
  • Fabryka Farb i Lakierów Sniezka'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
  • Fabryka Farb i Lakierów Sniezka's earnings are expected to decrease over the next 1-3 years, this is below the Poland market average.
  • Unable to compare Fabryka Farb i Lakierów Sniezka's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:SKA Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:SKA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -20.5%
Poland Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 45.1%
Poland Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 5%
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:SKA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:SKA Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
WSE:SKA Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 587 81 62
2018-09-30 578 78 63
2018-06-30 573 73 62
2018-03-31 551 63 51
2017-12-31 564 62 56
2017-09-30 568 68 61
2017-06-30 567 78 57
2017-03-31 586 74 57
2016-12-31 576 73 53
2016-09-30 574 78 52
2016-06-30 564 70 52
2016-03-31 562 57 57

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Fabryka Farb i Lakierów Sniezka's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Fabryka Farb i Lakierów Sniezka 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:SKA 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 0 Analyst Estimates (S&P Global) See Below

All data from Fabryka Farb i Lakierów Sniezka Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:SKA Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
WSE:SKA Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 4.88
2018-09-30 4.99
2018-06-30 4.90
2018-03-31 4.03
2017-12-31 4.43
2017-09-30 4.81
2017-06-30 4.52
2017-03-31 4.49
2016-12-31 4.21
2016-09-30 4.11
2016-06-30 4.12
2016-03-31 4.50

*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 Fabryka Farb i Lakierów Sniezka will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Fabryka Farb i Lakierów Sniezka'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.
Fabryka Farb i Lakierów Sniezka 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.

SKA Past Performance

  How has Fabryka Farb i Lakierów Sniezka 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 Fabryka Farb i Lakierów Sniezka'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.
  • Fabryka Farb i Lakierów Sniezka's year on year earnings growth rate has been positive over the past 5 years.
  • Fabryka Farb i Lakierów Sniezka's 1-year earnings growth exceeds its 5-year average (10.3% vs 8.3%)
  • Fabryka Farb i Lakierów Sniezka's earnings growth has exceeded the PL Chemicals industry average in the past year (10.3% vs -27.5%).
Earnings and Revenue History
Fabryka Farb i Lakierów Sniezka'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 Fabryka Farb i Lakierów Sniezka Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:SKA Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 586.78 61.63 162.73
2018-09-30 577.53 62.94 158.04
2018-06-30 573.28 61.86 154.82
2018-03-31 551.33 50.83 151.61
2017-12-31 564.48 55.89 149.70
2017-09-30 567.59 60.67 148.57
2017-06-30 566.56 57.09 151.57
2017-03-31 585.54 56.60 158.34
2016-12-31 575.64 53.09 157.49
2016-09-30 573.64 51.90 154.10
2016-06-30 563.93 51.95 148.06
2016-03-31 562.14 56.78 142.50
2015-12-31 550.13 47.99 139.07
2015-09-30 549.41 49.02 140.62
2015-06-30 551.92 44.78 139.52
2015-03-31 546.54 38.48 138.73
2014-12-31 545.97 41.05 140.64
2014-09-30 547.53 41.59 142.32
2014-06-30 556.51 43.50 148.47
2014-03-31 576.17 44.36 151.54
2013-12-31 573.90 45.08 151.51
2013-09-30 570.86 39.89 151.60
2013-06-30 588.05 44.26 148.74
2013-03-31 578.45 44.83 139.46
2012-12-31 576.52 45.47 137.71
2012-09-30 581.67 33.78 135.81
2012-06-30 563.15 22.89 129.42

*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.
  • Fabryka Farb i Lakierów Sniezka has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Fabryka Farb i Lakierów Sniezka used its assets more efficiently than the PL Chemicals industry average last year based on Return on Assets.
  • Fabryka Farb i Lakierów Sniezka's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Fabryka Farb i Lakierów Sniezka'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.
Fabryka Farb i Lakierów Sniezka has a total score of 5/6, 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.

SKA Health

 How is Fabryka Farb i Lakierów Sniezka'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 Fabryka Farb i Lakierów Sniezka's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Fabryka Farb i Lakierów Sniezka is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Fabryka Farb i Lakierów Sniezka's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Fabryka Farb i Lakierów Sniezka'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 2.6x 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 Fabryka Farb i Lakierów Sniezka Company Filings, last reported 3 months ago.

WSE:SKA Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 268.91 65.49 5.56
2018-09-30 268.09 112.44 26.66
2018-06-30 245.20 120.75 4.89
2018-03-31 241.82 120.84 21.07
2017-12-31 228.54 75.24 21.44
2017-09-30 231.53 87.36 17.14
2017-06-30 205.68 116.78 54.76
2017-03-31 233.89 99.20 23.01
2016-12-31 220.32 62.14 9.59
2016-09-30 213.76 87.08 23.45
2016-06-30 194.29 102.68 32.03
2016-03-31 216.71 97.13 21.00
2015-12-31 208.08 56.90 11.06
2015-09-30 204.46 92.43 16.89
2015-06-30 183.89 98.49 22.79
2015-03-31 201.07 112.24 37.43
2014-12-31 207.41 75.95 13.42
2014-09-30 205.36 87.52 17.92
2014-06-30 188.49 104.49 44.90
2014-03-31 208.48 94.80 23.62
2013-12-31 217.20 90.05 24.30
2013-09-30 213.82 105.57 16.81
2013-06-30 196.66 117.91 37.44
2013-03-31 213.90 108.69 12.78
2012-12-31 205.33 92.26 17.49
2012-09-30 206.66 115.59 32.80
2012-06-30 185.44 123.07 21.99
  • Fabryka Farb i Lakierów Sniezka's level of debt (24.4%) 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 (41.5% vs 24.4% today).
  • Debt is well covered by operating cash flow (123.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 47.6x coverage).
X
Financial health checks
We assess Fabryka Farb i Lakierów Sniezka'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. Fabryka Farb i Lakierów Sniezka 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.

SKA Dividends

 What is Fabryka Farb i Lakierów Sniezka'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
2.63%
Current annual income from Fabryka Farb i Lakierów Sniezka dividends.
If you bought PLN2,000 of Fabryka Farb i Lakierów Sniezka shares you are expected to receive PLN53 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?
  • Fabryka Farb i Lakierów Sniezka's pays a lower dividend yield than the bottom 25% of dividend payers in Poland (2.74%).
  • Fabryka Farb i Lakierów Sniezka's dividend is below the markets top 25% of dividend payers in Poland (7.56%).
Upcoming dividend payment

Purchase Fabryka Farb i Lakierów Sniezka before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:SKA 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 6.4%
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:SKA Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
WSE:SKA Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2019-03-29 2.500 2.795
2018-04-25 2.200 2.948
2017-05-11 3.200 4.579
2017-04-25 3.200 4.667
2016-04-21 3.150 5.339
2015-11-05 3.100 5.601
2015-08-27 3.100 5.816
2015-04-24 3.100 6.564
2015-02-26 3.100 6.782
2014-04-24 2.500 6.592
2014-02-26 2.500 6.110
2013-11-07 2.500 5.364
2013-08-29 2.500 4.850
2013-04-24 2.500 5.281
2013-02-28 2.500 5.474
2012-08-30 1.350 3.651
2012-04-24 1.350 4.195
2012-02-28 1.350 4.447
2011-08-24 1.700 6.231
2011-04-20 1.700 4.555
2011-02-23 1.700 3.974
2010-11-09 1.600 3.849
2010-04-28 1.600 3.926
2010-03-01 1.600 3.929
2009-08-31 1.350 3.555
2009-04-29 1.350 4.274
2009-04-20 1.100 4.289

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Fabryka Farb i Lakierów Sniezka's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (2x 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 Fabryka Farb i Lakierów Sniezka'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 Fabryka Farb i Lakierów Sniezka afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Fabryka Farb i Lakierów Sniezka 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.

SKA Management

 What is the CEO of Fabryka Farb i Lakierów Sniezka'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
Piotr Mikrut
COMPENSATION PLN0
TENURE AS CEO 15.1 years
CEO Bio

Mr. Piotr Mikrut has been the President of Managing Board at Fabryka Farb i Lakierów SNIEZKA Spolka Akcyjna (Formerly Sniezka Paints and Varnishes Plant S.A.) since March 31, 2004 and also serves as its Member of Managing Board.

CEO Compensation
  • Piotr's compensation has been consistent with company performance over the past year.
  • Piotr's remuneration is higher than average for companies of similar size in Poland.
Management Team Tenure

Average tenure of the Fabryka Farb i Lakierów Sniezka management team in years:

14
Average Tenure
  • The average tenure for the Fabryka Farb i Lakierów Sniezka management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Piotr Mikrut

TITLE
President of the Management Board
TENURE
15.1 yrs

Joanna Wróbel-Lipa

TITLE
Vice-President of the Management Board & Sales Director
TENURE
7.9 yrs

Witold Wasko

TITLE
Vice-President of the Management Board & Economic Director
TENURE
14 yrs

Stanislaw Panek

TITLE
Technical Director

Lukasz Dobrowolski

TITLE
Director of Marketing
Board of Directors

Stanislaw Cymbor

TITLE
Chairman of the Supervisory Board

Jerzy Pater

TITLE
Deputy Chairman of the Supervisory Board

Jaroslaw Wojdyla

TITLE
Member of Supervisory Board
TENURE
1.6 yrs

Zbigniew Lapinski

TITLE
Member of the Supervisory Board
AGE
51

Dariusz Orlowski

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 Fabryka Farb i Lakierów Sniezka'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. Fabryka Farb i Lakierów Sniezka 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.

SKA News

Simply Wall St News

Here's What Fabryka Farb i Lakierów Sniezka SA's (WSE:SKA) P/E Is Telling Us

We'll look at Fabryka Farb i Lakierów Sniezka SA's (WSE:SKA) P/E ratio and reflect on what it tells us about the company's share price. … Fabryka Farb i Lakierów Sniezka has a price to earnings ratio of 17.64, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Investors Who Bought Fabryka Farb i Lakierów Sniezka (WSE:SKA) Shares Five Years Ago Are Now Up 95%

For example, the Fabryka Farb i Lakierów Sniezka SA (WSE:SKA) share price is up 95% in the last 5 years, clearly besting than the market return of around -2.4% (ignoring dividends). … During five years of share price growth, Fabryka Farb i Lakierów Sniezka achieved compound earnings per share (EPS) growth of 9.5% per year. … Dive deeper into Fabryka Farb i Lakierów Sniezka's key metrics by checking this interactive graph of Fabryka Farb i Lakierów Sniezka's earnings, revenue and cash flow.

Simply Wall St -

Could Fabryka Farb i Lakierów Sniezka SA's (WSE:SKA) Investor Composition Influence The Stock Price?

If you want to know who really controls Fabryka Farb i Lakierów Sniezka SA (WSE:SKA), then you'll have to look at the makeup of its share registry. … Fabryka Farb i Lakierów Sniezka is not a large company by global standards. … View our latest analysis for Fabryka Farb i Lakierów Sniezka

Simply Wall St -

What To Know Before Buying Fabryka Farb i Lakierów Sniezka SA (WSE:SKA) For Its Dividend

Historically, Fabryka Farb i Lakierów Sniezka SA (WSE:SKA) has paid a dividend to shareholders. … Let's take a look at Fabryka Farb i Lakierów Sniezka in more detail. … Check out our latest analysis for Fabryka Farb i Lakierów Sniezka

Simply Wall St -

Is Fabryka Farb i Lakierów Sniezka SA's (WSE:SKA) 24% Better Than Average?

We'll use ROE to examine Fabryka Farb i Lakierów Sniezka SA (WSE:SKA), by way of a worked example. … Fabryka Farb i Lakierów Sniezka has a ROE of 24%, based on the last twelve months. … See our latest analysis for Fabryka Farb i Lakierów Sniezka?

Simply Wall St -

Are Fabryka Farb i Lakierów Sniezka SA's (WSE:SKA) Interest Costs Too High?

Investors are always looking for growth in small-cap stocks like Fabryka Farb i Lakierów Sniezka SA (WSE:SKA), with a market cap of zł1.0b. … However, an important fact which most ignore is: how financially healthy is the business? … I believe these basic checks tell most of the story you need to know.

Simply Wall St -

Are Fabryka Farb i Lakierów Sniezka SA’s (WSE:SKA) High Returns Really That Great?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Interested In Fabryka Farb i Lakierów Sniezka SA (WSE:SKA)? Here's What Its Recent Performance Looks Like

Today I will examine Fabryka Farb i Lakierów Sniezka SA's (WSE:SKA) latest earnings update (30 September 2018) and compare these figures against its performance over the past couple of years, in addition to how the rest of SKA's industry performed. … Were SKA's earnings stronger than its past performances and the industry. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 8.5%, indicating the rate at which SKA is growing has slowed down

Simply Wall St -

Do Directors Own Fabryka Farb i Lakierów Sniezka SA (WSE:SKA) Shares?

A look at the shareholders of Fabryka Farb i Lakierów Sniezka SA (WSE:SKA) can tell us which group is most powerful. … With a market capitalization of zł934m, Fabryka Farb i Lakierów Sniezka is a small cap stock, so it might not be well known by many institutional investors. … View our latest analysis for Fabryka Farb i Lakierów Sniezka

Simply Wall St -

How Does Fabryka Farb i Lakierów Sniezka SA (WSE:SKA) Fare As A Dividend Stock?

Historically, Fabryka Farb i Lakierów Sniezka SA (WSE:SKA) has paid a dividend to shareholders. … Let's take a look at Fabryka Farb i Lakierów Sniezka in more detail. … Check out our latest analysis for Fabryka Farb i Lakierów Sniezka

Simply Wall St -

SKA Company Info

Description

Fabryka Farb i Lakierów Sniezka SA manufactures and sells paints, varnishes, and emulsions in Poland. The company primarily provides its products to the individual purchasers market under the Sniezka brand. It primarily exports its products to Ukraine, Belarus, Lithuania, Russia, and Moldavia. Fabryka Farb i Lakierów Sniezka SA was founded in 1984 and is based in Warsaw, Poland.

Details
Name: Fabryka Farb i Lakierów Sniezka SA
SKA
Exchange: WSE
Founded: 1984
PLN1,198,688,910
12,617,778
Website: http://www.sniezka.pl
Address: Fabryka Farb i Lakierów Sniezka SA
Aleja Jana Pawla II 23,
Warsaw,
00-854,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE SKA Bearer Shares Warsaw Stock Exchange PL PLN 31. Dec 2003
LSE 0LYO Bearer Shares London Stock Exchange GB PLN 31. Dec 2003
Number of employees
Current staff
Staff numbers
0
Fabryka Farb i Lakierów Sniezka employees.
Industry
Commodity Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 20:51
End of day share price update: 2019/04/17 00:00
Last estimates confirmation: 2018/02/26
Last earnings filing: 2019/03/29
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.