WSE:CIG

Stock Analysis Report

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Executive Summary

CI Games S.A. produces, publishes, and distributes video games in Europe, North and South America, Asia, and Africa.


Snowflake Analysis

Flawless balance sheet with questionable track record.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: CIG's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-8.3%

CIG

4.5%

PL Entertainment

2.3%

PL Market


1 Year Return

54.7%

CIG

106.6%

PL Entertainment

-7.9%

PL Market

Return vs Industry: CIG underperformed the Polish Entertainment industry which returned 106.4% over the past year.

Return vs Market: CIG exceeded the Polish Market which returned -7.9% over the past year.


Shareholder returns

CIGIndustryMarket
7 Day-8.3%4.5%2.3%
30 Day4.9%5.3%1.5%
90 Day103.9%22.8%18.0%
1 Year54.7%54.7%106.9%106.6%-6.7%-7.9%
3 Year22.3%22.3%357.8%353.1%-18.4%-23.3%
5 Year-30.8%-30.8%1,054.9%1,018.6%-8.1%-18.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

404.41x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate CIG's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate CIG's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: CIG is poor value based on its PE Ratio (404.4x) compared to the PL Entertainment industry average (40.9x).

PE vs Market: CIG is poor value based on its PE Ratio (404.4x) compared to the Polish market (13.9x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: CIG is good value based on its PB Ratio (3.9x) compared to the PL Entertainment industry average (11.1x).


Next Steps

Future Growth

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

-0.4%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if CIG's forecast earnings growth is above the savings rate (2.9%).

Earnings vs Market: Insufficient data to determine if CIG's earnings are forecast to grow faster than the Polish market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: CIG's revenue is expected to decline over the next 3 years (-0.4% per year).

High Growth Revenue: CIG's revenue is forecast to decline over the next 3 years (-0.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CIG's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has CI Games performed over the past 5 years?

-28.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CIG has a large one-off gain of PLN2.7M impacting its March 31 2020 financial results.

Growing Profit Margin: CIG became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: CIG has become profitable over the past 5 years, growing earnings by -28.2% per year.

Accelerating Growth: CIG has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: CIG has become profitable in the last year, making it difficult to compare its past year earnings growth to the Entertainment industry (44.5%).


Return on Equity

High ROE: CIG's Return on Equity (0.9%) is considered low.


Next Steps

Financial Health

How is CI Games's financial position?


Financial Position Analysis

Short Term Liabilities: CIG's short term assets (PLN31.7M) exceed its short term liabilities (PLN24.8M).

Long Term Liabilities: CIG's short term assets (PLN31.7M) exceed its long term liabilities (PLN5.6M).


Debt to Equity History and Analysis

Debt Level: CIG's debt to equity ratio (31%) is considered satisfactory.

Reducing Debt: CIG had negative shareholder equity 5 years ago, but is now positive and has therefore improved.

Debt Coverage: CIG's debt is well covered by operating cash flow (83.3%).

Interest Coverage: CIG earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate CIG's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CIG's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CIG's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CIG'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 CIG's dividend in 3 years as they are not forecast to pay a notable one for the Polish market.


Next Steps

Management

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

3.5yrs

Average board tenure


CEO

Marek Tyminski

18.58yrs

Tenure

zł1,002,000

Compensation

Mr. Marek Lech Tyminski serves as the President of The Management Board at CI Games S.A. and serves as its Member of the Management Board. He has been Chief Executive Officer at CI Games S.A. since 2002. M ...


Board Members

NamePositionTenureCompensationOwnership
Marcin Garlinski
Member of the Supervisory Board2yrszł6.00kno data
Rafal Berlinski
Member of Supervisory Board0.58yrno datano data
Grzegorz Leszczynski
Member of Supervisory Board11yrszł6.00kno data
Norbert Biedrzycki
Member of Supervisory Board4.92yrszł6.00kno data
Ryszard Bartkowiak
Chairman of the Supervisory Boardno datazł8.00kno data

3.5yrs

Average Tenure

Experienced Board: CIG's board of directors are considered experienced (3.5 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 been diluted in the past year, with total shares outstanding growing by 7.2%.


Top Shareholders

Company Information

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


Key Information

  • Name: CI Games S.A.
  • Ticker: CIG
  • Exchange: WSE
  • Founded: 2002
  • Industry: Interactive Home Entertainment
  • Sector: Media
  • Market Cap: zł237.732m
  • Shares outstanding: 161.94m
  • Website: https://cigames.com

Number of Employees


Location

  • CI Games S.A.
  • ul. Twarda 18
  • Warsaw
  • 00-105
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CIGWSE (Warsaw Stock Exchange)YesOrdinary Bearer SharesPLPLNDec 2007
0LSELSE (London Stock Exchange)YesOrdinary Bearer SharesGBPLNDec 2007
CI7BST (Boerse-Stuttgart)YesOrdinary Bearer SharesDEEURDec 2007
CI7DB (Deutsche Boerse AG)YesOrdinary Bearer SharesDEEURDec 2007

Biography

CI Games S.A. produces, publishes, and distributes video games in Europe, North and South America, Asia, and Africa. The company primarily publishes own and licensed first-person shooter games for various ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/09 21:41
End of Day Share Price2020/08/07 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.