WSE:STP

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Flawless balance sheet and good value.

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

0.4%

STP

-3.1%

PL Metals and Mining

0.02%

PL Market


1 Year Return

-40.8%

STP

-26.9%

PL Metals and Mining

-3.3%

PL Market

Return vs Industry: STP underperformed the Polish Metals and Mining industry which returned -26.9% over the past year.

Return vs Market: STP underperformed the Polish Market which returned -3.3% over the past year.


Shareholder returns

STPIndustryMarket
7 Day0.4%-3.1%0.02%
30 Day-2.6%-7.1%-2.5%
90 Day13.2%-21.3%-7.4%
1 Year-39.6%-40.8%-25.2%-26.9%-0.4%-3.3%
3 Year-44.7%-46.5%-18.8%-22.7%11.3%3.4%
5 Year-13.1%-17.0%-25.2%-30.7%-1.0%-13.0%

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?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: STP (PLN224) is trading below our estimate of fair value (PLN450.14)

Significantly Undervalued: STP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: STP is poor value based on its PE Ratio (6.6x) compared to the Metals and Mining industry average (6.1x).

PE vs Market: STP is good value based on its PE Ratio (6.6x) compared to the Polish market (10x).


Price to Earnings Growth Ratio

Low 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 (0.5x) 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?

-1.2%

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 (-1.2% per year).

Earnings vs Market: STP's earnings are forecast to decline over the next 3 years (-1.2% per year).

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

Revenue vs Market: STP's revenue (3.1% per year) is forecast to grow slower than the Polish market (5.9% per year).

High Growth Revenue: STP's revenue (3.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: STP's Return on Equity is forecast to be low in 3 years time (6.5%).


Next Steps

Past Performance

How has Stalprodukt performed over the past 5 years?

14.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: STP's earnings have grown by 14.1% 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 (-33.6%) over the past year, making it difficult to compare to the Metals and Mining industry average (-2%).


Return on Equity

High ROE: STP's Return on Equity (7.8%) is considered low.


Return on Assets

ROA vs Industry: STP's Return on Assets is below or equal to the Metals and Mining industry average last year.


Return on Capital Employed

ROCE Improving: STP's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Stalprodukt's financial position?


Financial Position Analysis

Short Term Liabilities: STP's short term assets (PLN2.0B) exceeds its short term liabilities (PLN865.4M)

Long Term Liabilities: STP's short term assets (2.0B) exceeds its long term liabilities (939.7M)


Debt to Equity History and Analysis

Debt Level: STP's debt to equity ratio (12.9%) is considered satisfactory

Reducing Debt: STP's debt to equity ratio has reduced from 13% to 12.9% over the past 5 years.

Debt Coverage: STP's debt is well covered by operating cash flow (67.3%).

Interest Coverage: STP's interest payments on its debt are well covered by EBIT (16.8x 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 6.039020x debt).


Next Steps

  • Explore more healthy companies in the Materials industry.

Dividend

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

2.23%

Current Dividend Yield


Dividend Yield vs Market

company2.2%marketbottom25%2.7%markettop25%7.4%industryaverage7.6%forecastin3Years2.2%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: STP's dividend (2.23%) isn’t notable compared to the bottom 25% of dividend payers in the Polish market (2.66%).

High Dividend: STP's dividend (2.23%) is low compared to the top 25% of dividend payers in the Polish market (7.39%).

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 (14.7%), STP's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: STP's dividends in 3 years are forecast to be well covered by earnings (15.7% payout ratio).


Next Steps

Management

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

8.8yrs

Average management tenure


CEO

Piotr Janeczek (64yo)

15.3yrs

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 ($USD0.00) is too low to compare against companies of similar size in the Polish market ($USD0.00).

Compensation vs Earnings: 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

8.8yrs

Average Tenure

63yo

Average Age

Experienced Management: STP's management team is seasoned and experienced (8.8 years average tenure).


Board Age and Tenure

1.8yrs

Average Tenure

Experienced Board: STP's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Insider Trading

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


Ownership Breakdown


Management Team

  • Piotr Janeczek (64yo)

    President of the Management Board & CEO

    • Tenure: 15.3yrs
    • Compensation: zł3.32m
  • Józef Ryszka (63yo)

    Marketing Director & Member of Management Board

    • Tenure: 11.8yrs
    • Compensation: zł1.46m
  • Lukasz Mentel (42yo)

    Financial Director & Member of the Management Board

    • Tenure: 5.8yrs
    • Compensation: zł166.38k
  • Tadeusz Piekarz

    Technical Director - Plenipotentiary for Quality and Environment Management - Proxy

    • Tenure: 0yrs
  • Magdalena Janeczek

    Secretary & Member of Supervisory Board

    • Tenure: 2.8yrs
    • Compensation: zł37.92k

Board Members

  • Janusz Bodek (52yo)

    Chairman of Supervisory Board

    • Tenure: 1.8yrs
    • Compensation: zł230.23k
  • Sanjay Samaddar (58yo)

    Vice Chairman of Supervisory Board

    • Tenure: 1.8yrs
  • Magdalena Janeczek

    Secretary & Member of Supervisory Board

    • Tenure: 2.8yrs
    • Compensation: zł37.92k
  • Agata Sierpinska-Sawicz

    Member of Supervisory Board

    • Tenure: 1.8yrs

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: zł1.250b
  • 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 Analysis2019/10/18 20:38
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
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.