WSE:STP

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Excellent balance sheet and good value.

Risks

  • Stalprodukt has significant price volatility in the past 3 months.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

1.7%

WSE:STP

-5.6%

PL Metals and Mining

-2.6%

PL Market


1 Year Return

-56.9%

WSE:STP

-25.7%

PL Metals and Mining

-8.1%

PL Market

STP underperformed the Metals and Mining industry which returned -25.7% over the past year.

STP underperformed the Market in Poland which returned -8.1% over the past year.


Share holder returns

STPIndustryMarket
7 Day1.7%-5.6%-2.6%
30 Day1.1%-17.3%-9.8%
90 Day-20.0%-19.2%-4.9%
1 Year-56.0%-56.9%-25.4%-25.7%-5.3%-8.1%
3 Year-51.0%-52.9%-6.8%-9.8%7.8%-0.1%
5 Year-6.6%-11.1%-25.3%-30.0%-1.8%-14.4%

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 based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Stalprodukt's share price is below the future cash flow value, and at a moderate discount (> 20%).

Stalprodukt's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Stalprodukt is overvalued based on earnings compared to the PL Metals and Mining industry average.

Stalprodukt is good value based on earnings compared to the Poland market.


Price Based on Expected Growth

Stalprodukt earnings are not expected to grow next year, we can't assess if its growth is good value.


Price Based on Value of Assets

Stalprodukt is good value based on assets compared to the PL Metals and Mining industry average.


Next Steps

Future Growth

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

-6.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Stalprodukt's revenue is expected to grow by 1.1% yearly, however this is not considered high growth (20% yearly).

Stalprodukt's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Stalprodukt's revenue growth is positive but not above the Poland market average.

Stalprodukt's earnings are expected to decrease over the next 1-3 years, this is below the Poland market average.

Stalprodukt's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.9%.


Earnings per Share Growth Estimates


Future Return on Equity

Stalprodukt is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Stalprodukt performed over the past 5 years?

19.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Stalprodukt's year on year earnings growth rate has been positive over the past 5 years.

Stalprodukt's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Stalprodukt's 1-year earnings growth is negative, it can't be compared to the PL Metals and Mining industry average.


Return on Equity

Stalprodukt has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Stalprodukt used its assets more efficiently than the PL Metals and Mining industry average last year based on Return on Assets.


Return on Capital Employed

Stalprodukt's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Stalprodukt's financial position?


Financial Position Analysis

Stalprodukt is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Stalprodukt's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Stalprodukt's level of debt (15.5%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (14.2% vs 15.5% today).

Debt is well covered by operating cash flow (56.7%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 18.9x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 5.2x debt.


Next Steps

Dividend

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

4.93%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Stalprodukt's pays a lower dividend yield than the bottom 25% of dividend payers in Poland (2.9%).

Stalprodukt's dividend is below the markets top 25% of dividend payers in Poland (7.33%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are thoroughly covered by earnings (7.6x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (3.6x coverage).


Next Steps

Management

What is the CEO of Stalprodukt's salary, the management and board of directors tenure and is there insider trading?

8.6yrs

Average management tenure


CEO

Piotr Janeczek (64yo)

15.2yrs

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

Piotr's remuneration is higher than average for companies of similar size in Poland.

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


Management Age and Tenure

8.6yrs

Average Tenure

63yo

Average Age

The average tenure for the Stalprodukt management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

1.7yrs

Average Tenure

The average tenure for the Stalprodukt board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Piotr Janeczek (64yo)

    President of the Management Board & CEO

    • Tenure: 15.2yrs
    • Compensation: zł3.32m
  • Józef Ryszka (63yo)

    Marketing Director & Member of Management Board

    • Tenure: 11.6yrs
    • Compensation: zł1.46m
  • Lukasz Mentel (42yo)

    Financial Director & Member of the Management Board

    • Tenure: 5.6yrs
    • Compensation: zł166.38k
  • Tadeusz Piekarz

    Technical Director - Plenipotentiary for Quality and Environment Management - Proxy

    • Tenure: 0.0yrs
  • Magdalena Janeczek

    Secretary & Member of Supervisory Board

    • Tenure: 2.6yrs
    • Compensation: zł37.92k

Board Members

  • Janusz Bodek (52yo)

    Chairman of Supervisory Board

    • Tenure: 1.7yrs
    • Compensation: zł230.23k
  • Sanjay Samaddar (58yo)

    Vice Chairman of Supervisory Board

    • Tenure: 1.7yrs
  • Magdalena Janeczek

    Secretary & Member of Supervisory Board

    • Tenure: 2.6yrs
    • Compensation: zł37.92k
  • Agata Sierpinska-Sawicz

    Member of Supervisory Board

    • Tenure: 1.7yrs

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: zł1.116b
  • 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

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 structur ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/19 20:43
End of Day Share Price2019/08/19 00:00
Earnings2019/03/31
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.