Executive Summary
11 bit studios S.A. develops and sells cross-platform video games worldwide.
Rewards
Risk Analysis
Snowflake Analysis
High growth potential with excellent balance sheet.
Share Price & News
How has 11 bit studios's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 11B has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
7.6%
11B
0.7%
PL Entertainment
-1.5%
PL Market
1 Year Return
60.7%
11B
75.7%
PL Entertainment
-6.4%
PL Market
Return vs Industry: 11B underperformed the Polish Entertainment industry which returned 75.7% over the past year.
Return vs Market: 11B exceeded the Polish Market which returned -6.4% over the past year.
Shareholder returns
| 11B | Industry | Market | |
|---|---|---|---|
| 7 Day | 7.6% | 0.7% | -1.5% |
| 30 Day | 9.3% | 0.4% | -5.8% |
| 90 Day | -5.6% | 2.3% | -4.1% |
| 1 Year | 60.7%60.7% | 77.0%75.7% | -3.4%-6.4% |
| 3 Year | 170.4%170.4% | 281.2%272.7% | 4.2%-3.4% |
| 5 Year | 424.8%424.8% | 967.7%924.2% | 1.9%-10.8% |
Price Volatility Vs. Market
How volatile is 11 bit studios's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall St
Do Insiders Own Shares In 11 bit studios S.A. (WSE:11B)?1 month ago | Simply Wall St
How Important Was Sentiment In Driving 11 bit studios's (WSE:11B) Fantastic 3590% Share Price Gain?1 month ago | Simply Wall St
Can 11 bit studios S.A. (WSE:11B) Improve Its Returns?Valuation
Is 11 bit studios undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 11B (PLN388) is trading below our estimate of fair value (PLN1177.02)
Significantly Below Fair Value: 11B is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 11B is poor value based on its PE Ratio (46.6x) compared to the Entertainment industry average (24.6x).
PE vs Market: 11B is poor value based on its PE Ratio (46.6x) compared to the Polish market (10.5x).
Price to Earnings Growth Ratio
PEG Ratio: 11B is poor value based on its PEG Ratio (1.1x)
Price to Book Ratio
PB vs Industry: 11B is overvalued based on its PB Ratio (8.4x) compared to the PL Entertainment industry average (4.9x).
Next Steps
Future Growth
How is 11 bit studios forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
43.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 11B's forecast earnings growth (43.4% per year) is above the savings rate (2%).
Earnings vs Market: 11B's earnings (43.4% per year) are forecast to grow faster than the Polish market (10.7% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: 11B's revenue (27.2% per year) is forecast to grow faster than the Polish market (5.7% per year).
High Growth Revenue: 11B's revenue (27.2% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 11B's Return on Equity is forecast to be low in 3 years time (18.8%).
Next Steps
Past Performance
How has 11 bit studios performed over the past 5 years?
24.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 11B has a high level of non-cash earnings.
Growing Profit Margin: 11B's current net profit margins (26.5%) are lower than last year (48.4%).
Past Earnings Growth Analysis
Earnings Trend: 11B has become profitable over the past 5 years, growing earnings by 24.9% per year.
Accelerating Growth: 11B's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: 11B had negative earnings growth (-41.6%) over the past year, making it difficult to compare to the Entertainment industry average (65.4%).
Return on Equity
High ROE: 11B's Return on Equity (18%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is 11 bit studios's financial position?
Financial Position Analysis
Short Term Liabilities: 11B's short term assets (PLN96.2M) exceed its short term liabilities (PLN21.0M).
Long Term Liabilities: 11B's short term assets (PLN96.2M) exceed its long term liabilities (PLN11.7M).
Debt to Equity History and Analysis
Debt Level: 11B's debt to equity ratio (11.4%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if 11B's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: 11B's debt is well covered by operating cash flow (337.4%).
Interest Coverage: 11B earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Inventory Level: 11B has a low level of unsold assets or inventory.
Debt Coverage by Assets: 11B's debt is covered by short term assets (assets are 7.9x debt).
Next Steps
Dividend
What is 11 bit studios's current dividend yield, its reliability and sustainability?
1.15%
Forecast Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate 11B's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate 11B'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 11B's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if 11B's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of 11B's dividend in 3 years as they are not forecast to pay a notable one for the Polish market.
Next Steps
Management
What is the CEO of 11 bit studios's salary, the management and board of directors tenure and is there insider trading?
0.6yrs
Average board tenure
CEO
Grzegorz Miechowski 0
0yrs
Tenure
zł1,631,935
Compensation
Mr. Grzegorz Miechowski serves as the President of the Management Board of 11 Bit Studios S.A., and served as its Chief Executive Officer. Mr. Miechowski served as a Team Leader and Chief Executive Officer ...
CEO Compensation Analysis
Compensation vs Market: Grzegorz's total compensation ($USD422.06K) is about average for companies of similar size in the Polish market ($USD349.88K).
Compensation vs Earnings: Grzegorz's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Board Age and Tenure
0.6yrs
Average Tenure
Experienced Board: 11B's board of directors are not considered experienced ( 0.6 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
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Grzegorz Miechowski
President of the Management Board
- Tenure: 0yrs
- Compensation: zł1.63m
Michal Drozdowski
Member of the Management Board
- Tenure: 0yrs
- Compensation: zł1.63m
Przemyslaw Marszal
Member of the Management Board
- Tenure: 0yrs
- Compensation: zł1.62m
Board Members
Piotr Wierzbicki
Member of the Supervisory Board
- Tenure: 0.6yrs
Radoslaw Marter
Independent Member of the Supervisory Board
- Tenure: 0yrs
Wojciech Ozimek
Chairman of Supervisory Board
- Tenure: 0.6yrs
Jacek Czykiel
Vice Chairman of the Supervisory Board
- Tenure: 0yrs
Marcin Kuciapski
Member of the Supervisory Board
- Tenure: 0.6yrs
Company Information
11 bit studios S.A.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: 11 bit studios S.A.
- Ticker: 11B
- Exchange: WSE
- Founded: 2009
- Industry: Interactive Home Entertainment
- Sector: Media
- Market Cap: zł887.433m
- Shares outstanding: 2.29m
- Website: https://www.11bitstudios.com
Number of Employees
Location
- 11 bit studios S.A.
- ul. Bertolta Brechta 7
- Warsaw
- 03-472
- Poland
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 11B | WSE (Warsaw Stock Exchange) | Yes | Common Bearer Shares | PL | PLN | Jan 2011 |
| 11C | BST (Boerse-Stuttgart) | Yes | Common Bearer Shares | DE | EUR | Jan 2011 |
Biography
11 bit studios S.A. develops and sells cross-platform video games worldwide. The company sells its video games through specialized Internet platforms. 11 bit studios S.A. was founded in 2009 and is based i ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/11 21:18 |
| End of Day Share Price | 2019/12/11 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.