WSE:STP

Stock Analysis Report

Executive Summary

Stalprodukt S.A., together with its subsidiaries, manufactures and exports processed steel products in Poland.


Snowflake Analysis

Flawless balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-7.0%

STP

-3.1%

PL Metals and Mining

-0.7%

PL Market


1 Year Return

-41.9%

STP

-21.1%

PL Metals and Mining

-8.9%

PL Market

Return vs Industry: STP underperformed the Polish Metals and Mining industry which returned -21.1% over the past year.

Return vs Market: STP underperformed the Polish Market which returned -8.9% over the past year.


Shareholder returns

STPIndustryMarket
7 Day-7.0%-3.1%-0.7%
30 Day-4.9%-4.2%-1.4%
90 Day5.3%2.5%-0.2%
1 Year-40.7%-41.9%-19.3%-21.1%-6.1%-8.9%
3 Year-67.7%-68.7%-39.2%-41.6%-6.5%-13.1%
5 Year-51.8%-54.0%-16.3%-23.0%0.5%-12.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

6.66x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: STP (PLN193) is trading above our estimate of fair value (PLN122.16)

Significantly Below Fair Value: STP is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: STP is good value based on its PE Ratio (6.7x) compared to the Metals and Mining industry average (7.6x).

PE vs Market: STP is good value based on its PE Ratio (6.7x) compared to the Polish market (12.1x).


Price to Earnings Growth Ratio

PEG Ratio: STP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: STP is good value based on its PB Ratio (0.4x) compared to the PL Metals and Mining industry average (0.8x).


Next Steps

Future Growth

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

-3.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: STP's earnings are forecast to decline over the next 3 years (-3.8% per year).

Earnings vs Market: STP's earnings are forecast to decline over the next 3 years (-3.8% per year).

High Growth Earnings: STP's earnings are forecast to decline over the next 3 years.

Revenue vs Market: STP's revenue (1.7% per year) is forecast to grow slower than the Polish market (6.2% per year).

High Growth Revenue: STP's revenue (1.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: STP's Return on Equity is forecast to be low in 3 years time (6.7%).


Next Steps

Past Performance

How has Stalprodukt performed over the past 5 years?

8.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: STP has high quality earnings.

Growing Profit Margin: STP's current net profit margins (4.2%) are lower than last year (7.3%).


Past Earnings Growth Analysis

Earnings Trend: STP's earnings have grown by 8.6% per year over the past 5 years.

Accelerating Growth: STP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: STP had negative earnings growth (-42.8%) over the past year, making it difficult to compare to the Metals and Mining industry average (-42.4%).


Return on Equity

High ROE: STP's Return on Equity (6.4%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Stalprodukt's financial position?


Financial Position Analysis

Short Term Liabilities: STP's short term assets (PLN1.9B) exceed its short term liabilities (PLN648.8M).

Long Term Liabilities: STP's short term assets (PLN1.9B) exceed its long term liabilities (PLN935.5M).


Debt to Equity History and Analysis

Debt Level: STP's debt to equity ratio (3.8%) is considered satisfactory.

Reducing Debt: STP's debt to equity ratio has reduced from 10.7% to 3.8% over the past 5 years.

Debt Coverage: STP's debt is well covered by operating cash flow (321.2%).

Interest Coverage: STP's interest payments on its debt are well covered by EBIT (9.4x coverage).


Balance Sheet

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

Debt Coverage by Assets: STP's debt is covered by short term assets (assets are 18.5x debt).


Next Steps

Dividend

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

2.59%

Current Dividend Yield


Dividend Yield vs Market

company2.6%marketbottom25%2.3%markettop25%6.6%industryaverage6.8%forecastin3Years2.6%

Current dividend yield vs market & industry

Notable Dividend: STP's dividend (2.59%) is higher than the bottom 25% of dividend payers in the Polish market (2.29%).

High Dividend: STP's dividend (2.59%) is low compared to the top 25% of dividend payers in the Polish market (6.62%).


Stability and Growth of Payments

Stable Dividend: STP's dividend payments have been volatile in the past 10 years.

Growing Dividend: STP's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (17.3%), STP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: STP's dividends in 3 years are forecast to be well covered by earnings (15.3% payout ratio).


Next Steps

Management

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

9.1yrs

Average management tenure


CEO

Piotr Janeczek (64yo)

15.7yrs

Tenure

zł3,323,508

Compensation

Mr. Piotr Janeczek has been the President of the Management Board and Chief Executive Officer at Stalprodukt Spólka Akcyjna (Zaklady Przetworstwa Hutniczego Stalprodukt Sa) since June 25, 2004 and served a ...


CEO Compensation Analysis

Compensation vs Market: Piotr's total compensation ($USD0.00) is below average for companies of similar size in the Polish market ($USD315.03K).

Compensation vs Earnings: Piotr's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Piotr Janeczek
President of the Management Board & CEO15.7yrszł3.32m2.06% PLN22.2m
Lukasz Mentel
Financial Director & Member of the Management Board6.1yrszł166.38k0.0018% PLN19.3k
Józef Ryszka
Marketing Director & Member of Management Board12.1yrszł1.46m0.0090% PLN97.3k
Magdalena Janeczek
Secretary & Member of Supervisory Board3.1yrszł37.92kno data
Tadeusz Piekarz
Technical Director - Plenipotentiary for Quality and Environment Management - Proxy0yrsno datano data

9.1yrs

Average Tenure

63yo

Average Age

Experienced Management: STP's management team is seasoned and experienced (9.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Magdalena Janeczek
Secretary & Member of Supervisory Board3.1yrszł37.92kno data
Janusz Bodek
Chairman of Supervisory Board2.2yrszł230.23k1.11% PLN12.0m
Sanjay Samaddar
Vice Chairman of Supervisory Board2.2yrsno datano data
Agata Sierpinska-Sawicz
Member of Supervisory Board2.2yrsno datano data

2.2yrs

Average Tenure

Experienced Board: STP's board of directors are not considered experienced ( 2.2 years average tenure), which suggests a new board.


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

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


Key Information

  • Name: Stalprodukt S.A.
  • Ticker: STP
  • Exchange: WSE
  • Founded: 1971
  • Industry: Steel
  • Sector: Materials
  • Market Cap: zł1.077b
  • Shares outstanding: 5.58m
  • Website: https://www.stalprodukt.com.pl

Location

  • Stalprodukt S.A.
  • ul. Wygoda 69
  • Bochnia
  • 32-700
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
STPWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNAug 1997
0LYRLSE (London Stock Exchange)YesCommon Bearer SharesGBPLNAug 1997

Biography

Stalprodukt S.A., together with its subsidiaries, manufactures and exports processed steel products in Poland. It offers cold rolled electrical steel; cold rolled sections, such as closed and open structural profiles, precision structural tubing, reinforcing sections for PVC profiles, and special purpose sections; cold and hot rolled sheets, coils, and strips; transformer cores; and steel safety barriers. The company is also involved in the wholesale trading of steel products; production of steel structures and spare parts; provision of repair services; production of metal elements for construction carpentry; maintenance of roads; and assembly of road barriers. In addition, it engages in the provision of galvanizing and security services; production of galvanized strips and wires; non-ferrous metals mining; production of zinc and lead; and design of renewable energy sources. The company was formerly known as ZPH Stalprodukt S.A. and changed its name to Stalprodukt S.A. in 2005. Stalprodukt S.A. was founded in 1971 and is based in Bochnia, Poland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 20:59
End of Day Share Price2020/02/21 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.