WSE:11B

Stock Analysis Report

11 bit studios

Executive Summary

11 bit studios S.A. develops and sells cross-platform video games worldwide.

Snowflake

Fundamentals

Exceptional 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


Market Performance


7 Day Return

-3.4%

WSE:11B

-2.2%

PL Entertainment

0.8%

PL Market


1 Year Return

13.3%

WSE:11B

24.3%

PL Entertainment

-2.7%

PL Market

11B underperformed the Entertainment industry which returned 24.3% over the past year.

11B outperformed the Market in Poland which returned -2.7% over the past year.


Share holder returns

11BIndustryMarket
7 Day-3.4%-2.2%0.8%
30 Day2.9%4.1%3.9%
90 Day-0.4%17.1%-4.2%
1 Year13.3%13.3%25.2%24.3%0.2%-2.7%
3 Year230.0%230.0%362.8%352.1%13.4%4.9%
5 Year4316.0%4316.0%1017.3%966.0%-1.4%-13.2%

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

Valuation

Is 11 bit studios 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

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

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


Price Based on Earnings

11 bit studios is overvalued based on earnings compared to the PL Entertainment industry average.

11 bit studios is overvalued based on earnings compared to the Poland market.


Price Based on Expected Growth

11 bit studios is poor value based on expected growth next year.


Price Based on Value of Assets

11 bit studios is overvalued based on assets compared to the PL Entertainment industry average.


Next Steps

Future Growth

How is 11 bit studios expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

36.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

11 bit studios's revenue is expected to grow significantly at over 20% yearly.

11 bit studios's earnings are expected to grow significantly at over 20% yearly.

11 bit studios's revenue growth is expected to exceed the Poland market average.

11 bit studios's earnings growth is expected to exceed the Poland market average.

11 bit studios's earnings growth is expected to exceed the low risk savings rate of 2.9%.


Earnings per Share Growth Estimates


Future Return on Equity

11 bit studios is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).


Next Steps

Past Performance

How has 11 bit studios performed over the past 5 years?

30.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

11 bit studios has delivered over 20% year on year earnings growth in the past 5 years.

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

11 bit studios's 1-year earnings growth is negative, it can't be compared to the PL Entertainment industry average.


Return on Equity

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


Return on Assets

11 bit studios used its assets less efficiently than the PL Entertainment industry average last year based on Return on Assets.


Return on Capital Employed

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


Next Steps

Financial Health

How is 11 bit studios's financial position?


Financial Position Analysis

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

11 bit studios's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

11 bit studios's level of debt (12.4%) compared to net worth is satisfactory (less than 40%).

Unable to establish if 11 bit studios's debt level has increased without past 5-year debt data.

Debt is well covered by operating cash flow (280.1%, greater than 20% of total debt).

11 bit studios earns more interest than it pays, coverage of interest payments is not a concern.


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 7x debt.


Next Steps

Dividend

What is 11 bit studios's current dividend yield, its reliability and sustainability?

2.31%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Unable to evaluate 11 bit studios's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate 11 bit studios's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as 11 bit studios has not reported any payouts.

Unable to verify if 11 bit studios's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as 11 bit studios has not reported any payouts.


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).


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?

0.3yrs

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

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

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

0.3yrs

Average Tenure

The average tenure for the 11 bit studios 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

  • 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: 0.3yrs
  • Radoslaw Marter

    Independent Member of the Supervisory Board

    • Tenure: 0yrs
  • Wojciech Ozimek

    Chairman of Supervisory Board

    • Tenure: 0.3yrs
  • Jacek Czykiel

    Vice Chairman of the Supervisory Board

    • Tenure: 0yrs
  • Marcin Kuciapski

    Member of the Supervisory Board

    • Tenure: 0.3yrs

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: zł908.018m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
11BWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNJan 2011
11CBST (Boerse-Stuttgart)YesCommon Bearer SharesDEEURJan 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/19 21:14
End of Day Share Price2019/09/19 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.