WSE:AGO

Stock Analysis Report

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Executive Summary

Agora S.A., together with its subsidiaries, primarily publishes magazines, periodicals, and books in Poland.


Snowflake Analysis

Mediocre balance sheet unattractive dividend payer.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

1.9%

AGO

1.5%

PL Media

1.6%

PL Market


1 Year Return

-36.0%

AGO

0.4%

PL Media

-3.8%

PL Market

Return vs Industry: AGO underperformed the Polish Media industry which returned 0.4% over the past year.

Return vs Market: AGO underperformed the Polish Market which returned -3.8% over the past year.


Shareholder returns

AGOIndustryMarket
7 Day1.9%1.5%1.6%
30 Day-13.8%1.9%3.1%
90 Day8.2%19.6%20.8%
1 Year-36.0%-36.0%0.5%0.4%-3.0%-3.8%
3 Year-51.1%-54.8%6.7%3.2%-16.8%-21.8%
5 Year-29.5%-38.8%29.2%22.8%-5.0%-15.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

0.39x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: AGO (PLN7.36) is trading above our estimate of fair value (PLN5.82)

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


Price To Earnings Ratio

PE vs Industry: AGO is unprofitable, so we can't compare its PE Ratio to the PL Media industry average.

PE vs Market: AGO is unprofitable, so we can't compare its PE Ratio to the Polish market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AGO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AGO is good value based on its PB Ratio (0.4x) compared to the PL Media industry average (1.4x).


Next Steps

Future Growth

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

53.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AGO is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: AGO is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: AGO is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: AGO's revenue (4.6% per year) is forecast to grow faster than the Polish market (3.5% per year).

High Growth Revenue: AGO's revenue (4.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AGO is forecast to be unprofitable in 3 years.


Next Steps

  • Explore growth companies in the Media industry.

Past Performance

How has Agora performed over the past 5 years?

-29.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AGO is currently unprofitable.

Growing Profit Margin: AGO is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: AGO is unprofitable, and losses have increased over the past 5 years at a rate of 29.5% per year.

Accelerating Growth: Unable to compare AGO's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: AGO is unprofitable, making it difficult to compare its past year earnings growth to the Media industry (25.7%).


Return on Equity

High ROE: AGO has a negative Return on Equity (-4.16%), as it is currently unprofitable.


Next Steps

Financial Health

How is Agora's financial position?


Financial Position Analysis

Short Term Liabilities: AGO's short term assets (PLN314.2M) do not cover its short term liabilities (PLN386.0M).

Long Term Liabilities: AGO's short term assets (PLN314.2M) do not cover its long term liabilities (PLN661.4M).


Debt to Equity History and Analysis

Debt Level: AGO's debt to equity ratio (11.3%) is considered satisfactory.

Reducing Debt: AGO's debt to equity ratio has increased from 3.1% to 11.3% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable AGO has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: AGO is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 24.9% per year.


Next Steps

Dividend

What is Agora current dividend yield, its reliability and sustainability?

6.79%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AGO's dividend (6.79%) is higher than the bottom 25% of dividend payers in the Polish market (1.69%).

High Dividend: AGO's dividend (6.79%) is in the top 25% of dividend payers in the Polish market (5.94%)


Stability and Growth of Payments

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

Growing Dividend: AGO's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: AGO is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

3.4yrs

Average management tenure


CEO

Bartosz Hojka (46 yo)

6.42yrs

Tenure

zł1,386,000

Compensation

Mr. Bartosz Hojka has been the President of the Management Board at Agora Spólka Akcyjna Since March 12, 2014. Mr. Hojka has been Member of the Management Board and Managing Director at Grupa Radiowa Agory ...


CEO Compensation Analysis

Compensation vs Market: Bartosz's total compensation ($USD372.67K) is above average for companies of similar size in the Polish market ($USD156.33K).

Compensation vs Earnings: Bartosz's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Bartosz Hojka
President of Management Board6.42yrszł1.39m0.0062%
PLN 21.4k
Tomasz Jagiello
Member of Management Board7.17yrszł574.00kno data
Anna Krynska-Godlewska
Member of Management Board2.75yrszł935.00kno data
Agnieszka Sadowska
Member of the Management Board3.42yrszł938.00kno data
Grzegorz Kania
Member of Management Board2.75yrszł938.00kno data
Ewa Kuzio
Chief Accountantno datano datano data
Michal Przewlocki
Head of Technology Divisionno datano datano data
Nina Grabos
Director of Corporate Communicationno datano datano data
Marek Michalski
Deputy Head of Radio Divisionno datano datano data

3.4yrs

Average Tenure

47.5yo

Average Age

Experienced Management: AGO's management team is considered experienced (3.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Tomasz Sielicki
Member of the Supervisory Board13.58yrszł84.00k0.000070%
PLN 240.0
Wanda Rapaczynski
Member of Supervisory Board0.92yrzł84.00k1.9%
PLN 6.5m
Andrzej Szlezak
Chairman of Supervisory Board11.17yrszł126.00kno data
Dariusz Formela
Member of the Supervisory Board7.17yrszł84.00kno data
Tomasz Karusewicz
Member of Supervisory Board1.17yrszł52.00kno data
Maciej Wisniewski
Member of Supervisory Board2.75yrszł84.00kno data

5.0yrs

Average Tenure

Experienced Board: AGO's board of directors are considered experienced (5 years average tenure).


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

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


Key Information

  • Name: Agora S.A.
  • Ticker: AGO
  • Exchange: WSE
  • Founded: 1989
  • Industry: Publishing
  • Sector: Media
  • Market Cap: zł342.835m
  • Shares outstanding: 46.58m
  • Website: https://www.agora.pl

Number of Employees


Location

  • Agora S.A.
  • 8/10 Czerska Street
  • Warsaw
  • 00-732
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AGOWSE (Warsaw Stock Exchange)YesOrdinary SharesPLPLNApr 1999
0MNMLSE (London Stock Exchange)YesOrdinary SharesGBPLNApr 1999

Biography

Agora S.A., together with its subsidiaries, primarily publishes magazines, periodicals, and books in Poland. The company operates in five segments: Movies and Books, Press, Outdoor, Internet, and Radio. It ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/15 03:40
End of Day Share Price2020/08/14 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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.