WSE:CPS

Stock Analysis Report

Cyfrowy Polsat

Executive Summary

Cyfrowy Polsat S.A. provides digital satellite platform, digital terrestrial television (TV), and telecommunication services in Poland.

Snowflake

Fundamentals

Average dividend payer with mediocre balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

0%

CPS

3.7%

PL Media

1.9%

PL Market


1 Year Return

19.4%

CPS

18.0%

PL Media

0.2%

PL Market

Return vs Industry: CPS exceeded the Polish Media industry which returned 18% over the past year.

Return vs Market: CPS exceeded the Polish Market which returned 0.2% over the past year.


Shareholder returns

CPSIndustryMarket
7 Day0%3.7%1.9%
30 Day7.4%2.0%0.5%
90 Day-7.6%-8.3%-5.7%
1 Year23.2%19.4%21.6%18.0%3.3%0.2%
3 Year15.5%10.6%14.0%8.9%12.3%4.3%
5 Year13.7%8.9%8.4%3.0%0.2%-12.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

35.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CPS (PLN27.44) is trading below our estimate of fair value (PLN42.36)

Significantly Below Fair Value: CPS is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CPS is poor value based on its PE Ratio (20.6x) compared to the Media industry average (17.6x).

PE vs Market: CPS is poor value based on its PE Ratio (20.6x) compared to the Polish market (10.1x).


Price to Earnings Growth Ratio

PEG Ratio: CPS is poor value based on its PEG Ratio (2x)


Price to Book Ratio

PB vs Industry: CPS is overvalued based on its PB Ratio (1.3x) compared to the PL Media industry average (0.9x).


Next Steps

Future Growth

How is Cyfrowy Polsat forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

10.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CPS's forecast earnings growth (10.3% per year) is above the savings rate (2.9%).

Earnings vs Market: CPS's earnings (10.3% per year) are forecast to grow slower than the Polish market (10.6% per year).

High Growth Earnings: CPS's earnings are forecast to grow, but not significantly.

Revenue vs Market: CPS's revenue (1.3% per year) is forecast to grow slower than the Polish market (5.8% per year).

High Growth Revenue: CPS's revenue (1.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CPS's Return on Equity is forecast to be low in 3 years time (9.9%).


Next Steps

Past Performance

How has Cyfrowy Polsat performed over the past 5 years?

9.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CPS's earnings have grown by 9.8% per year over the past 5 years.

Accelerating Growth: CPS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CPS had negative earnings growth (-9.9%) over the past year, making it difficult to compare to the Media industry average (14.3%).


Return on Equity

High ROE: CPS's Return on Equity (6.2%) is considered low.


Return on Assets

ROA vs Industry: CPS has a higher Return on Assets than the Media industry average last year.


Return on Capital Employed

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


Next Steps

Financial Health

How is Cyfrowy Polsat's financial position?


Financial Position Analysis

Short Term Liabilities: CPS's short term assets (PLN4.9B) do not cover its short term liabilities (PLN5.4B)

Long Term Liabilities: CPS's short term assets (4.9B) do not cover its long term liabilities (12.0B)


Debt to Equity History and Analysis

Debt Level: CPS's debt to equity ratio (74.6%) is considered high

Reducing Debt: CPS's debt to equity ratio has reduced from 158.1% to 74.6% over the past 5 years.

Debt Coverage: CPS's debt is well covered by operating cash flow (31.3%).

Interest Coverage: CPS's interest payments on its debt are well covered by EBIT (4.7x coverage).


Balance Sheet

Inventory Level: CPS has a high level of physical assets or inventory.

Debt Coverage by Assets: CPS's debt is not covered by short term assets (assets are 0.5x debt).


Next Steps

Dividend

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

3.39%

Current Dividend Yield


Dividend Yield vs Market

company3.4%marketbottom25%2.7%markettop25%7.2%industryaverage3.4%forecastin3Years3.8%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CPS's dividend (3.39%) is higher than the bottom 25% of dividend payers in the Polish market (2.73%).

High Dividend: CPS's dividend (3.39%) is low compared to the top 25% of dividend payers in the Polish market (7.24%).

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

Growing Dividend: CPS's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (69.8%), CPS's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CPS's dividends in 3 years are forecast to be well covered by earnings (48.7% payout ratio).


Next Steps

Management

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

1.8yrs

Average management tenure


CEO

Miroslaw Blaszczyk 0

0.5yrs

Tenure

0

Mr. Miroslaw Blaszczyk has been Chairman of the Management Board at Cyfrowy Polsat SA. since April 01, 2019. He is also President of the Management Board of Polkomtel (since April 2019), Supervisory Board  ...


Management Age and Tenure

1.8yrs

Average Tenure

Experienced Management: CPS's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Age and Tenure

4.5yrs

Average Tenure

Experienced Board: CPS's board of directors are considered experienced (4.5 years average tenure).


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

  • Aneta Jaskólska

    Member of the Management Board

    • Tenure: 9.3yrs
    • Compensation: zł2.40m
  • Maciej Stec

    Vice Chairman of the Management Board

    • Tenure: 0.5yrs
    • Compensation: zł2.60m
  • Jacek Felczykowski

    Member of Management Board

    • Tenure: 0.5yrs
  • Agnieszka Odorowicz

    Member of the Management Board

    • Tenure: 3.6yrs
    • Compensation: zł1.40m
  • Katarzyna Ostap-Tomann

    CFO & Member of the Management Board

    • Tenure: 3yrs
    • Compensation: zł2.60m
  • Miroslaw Blaszczyk

    Chairman of the Management Board

    • Tenure: 0.5yrs
  • Agnieszka Szatan

    Chief Accountant

    • Tenure: 0yrs

Board Members

  • Robert Gwiazdowski

    Independent Member of the Supervisory Board

    • Tenure: 11.3yrs
  • Leszek Reksa

    Independent Member of the Supervisory Board

    • Tenure: 11.3yrs
  • Aleksander Myszka

    Member of the Supervisory Board

    • Tenure: 4.5yrs
  • Józef Birka

    Member of the Supervisory Board

    • Tenure: 4.5yrs
  • Tomasz Szelag

    Member of the Supervisory Board

    • Tenure: 3yrs
  • Marek Kapuscinski

    Chairman of the Supervisory Board

    • Tenure: 3yrs
  • Piotr Zak

    Member of the Supervisory Board

    • Tenure: 1.3yrs

Company Information

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


Key Information

  • Name: Cyfrowy Polsat S.A.
  • Ticker: CPS
  • Exchange: WSE
  • Founded: 1996
  • Industry: Cable and Satellite
  • Sector: Media
  • Market Cap: zł17.549b
  • Shares outstanding: 639.55m
  • Website: https://www.cyfrowypolsat.pl

Number of Employees


Location

  • Cyfrowy Polsat S.A.
  • Lubinowa 4a
  • Warsaw
  • 03-878
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CPSWSE (Warsaw Stock Exchange)YesOrdinary Bearer SharesPLPLNMay 2008
0MNQLSE (London Stock Exchange)YesOrdinary Bearer SharesGBPLNMay 2008
CP9DB (Deutsche Boerse AG)YesOrdinary Bearer SharesDEEURMay 2008

Biography

Cyfrowy Polsat S.A. provides digital satellite platform, digital terrestrial television (TV), and telecommunication services in Poland. The company operates through two segments, Services to Individual and ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 21:01
End of Day Share Price2019/10/23 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.