WSE:CPS

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Cyfrowy Polsat

Executive Summary

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


Snowflake Analysis

Proven track record with adequate balance sheet and pays a dividend.


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

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


Market Performance


7 Day Return

0.5%

CPS

0.6%

PL Media

2.5%

PL Market


1 Year Return

-10.4%

CPS

-11.4%

PL Media

-17.3%

PL Market

Return vs Industry: CPS exceeded the Polish Media industry which returned -11.4% over the past year.

Return vs Market: CPS exceeded the Polish Market which returned -17.3% over the past year.


Shareholder returns

CPSIndustryMarket
7 Day0.5%0.6%2.5%
30 Day2.9%2.7%2.0%
90 Day12.6%13.0%23.3%
1 Year-10.4%-10.4%-11.3%-11.4%-15.5%-17.3%
3 Year15.6%10.7%11.1%6.2%-17.6%-22.9%
5 Year25.1%19.7%22.2%16.2%-10.0%-20.3%

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?

24.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CPS (PLN27.42) is trading below our estimate of fair value (PLN36.26)

Significantly Below Fair Value: CPS is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CPS is poor value based on its PE Ratio (17.7x) compared to the Media industry average (9.6x).

PE vs Market: CPS is poor value based on its PE Ratio (17.7x) compared to the Polish market (12.3x).


Price to Earnings Growth Ratio

PEG Ratio: CPS is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

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


Next Steps

Future Growth

How is Cyfrowy Polsat forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

9.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CPS's forecast earnings growth (9.2% per year) is above the savings rate (2.9%).

Earnings vs Market: CPS's earnings (9.2% per year) are forecast to grow slower than the Polish market (14.9% per year).

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

Revenue vs Market: CPS's revenue (0.9% per year) is forecast to grow slower than the Polish market (3.8% per year).

High Growth Revenue: CPS's revenue (0.9% 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 (9.4%).


Next Steps

Past Performance

How has Cyfrowy Polsat performed over the past 5 years?

2.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CPS has high quality earnings.

Growing Profit Margin: CPS's current net profit margins (8.4%) are higher than last year (7.4%).


Past Earnings Growth Analysis

Earnings Trend: CPS's earnings have grown by 2.2% per year over the past 5 years.

Accelerating Growth: CPS's earnings growth over the past year (20.1%) exceeds its 5-year average (2.2% per year).

Earnings vs Industry: CPS earnings growth over the past year (20.1%) underperformed the Media industry 24%.


Return on Equity

High ROE: CPS's Return on Equity (6.8%) is considered low.


Next Steps

Financial Health

How is Cyfrowy Polsat's financial position?


Financial Position Analysis

Short Term Liabilities: CPS's short term assets (PLN5.3B) exceed its short term liabilities (PLN5.1B).

Long Term Liabilities: CPS's short term assets (PLN5.3B) do not cover its long term liabilities (PLN12.9B).


Debt to Equity History and Analysis

Debt Level: CPS's debt to equity ratio (80.4%) is considered high.

Reducing Debt: CPS's debt to equity ratio has reduced from 148.3% to 80.4% over the past 5 years.

Debt Coverage: CPS's debt is well covered by operating cash flow (30.2%).

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


Balance Sheet


Next Steps

Dividend

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

3.65%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: CPS's dividend (3.65%) is higher than the bottom 25% of dividend payers in the Polish market (1.81%).

High Dividend: CPS's dividend (3.65%) is low compared to the top 25% of dividend payers in the Polish market (6.17%).


Stability and Growth of Payments

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 (64.5%), 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 (49.7% payout ratio).


Next Steps

Management

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

2.5yrs

Average management tenure


CEO

Miroslaw Blaszczyk

1.25yrs

Tenure

zł3,000,000

Compensation

Mr. Miroslaw Blaszczyk has been President 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 ...


CEO Compensation Analysis

Compensation vs Market: Miroslaw's total compensation ($USD755.48K) is about average for companies of similar size in the Polish market ($USD755.48K).

Compensation vs Earnings: Insufficient data to compare Miroslaw's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Miroslaw Blaszczyk
President of the Management Board1.25yrszł3.00mno data
Maciej Stec
Vice Chairman of the Management Board1.25yrszł2.90mno data
Katarzyna Ostap-Tomann
CFO & Member of the Management Board3.75yrszł2.80mno data
Aneta Jaskólska
Member of the Management Board10yrszł2.40mno data
Agnieszka Odorowicz
Member of the Management Board4.33yrszł1.40mno data
Jacek Felczykowski
Member of Management Board1.25yrszł2.40mno data
Agnieszka Szatan
Chief Accountantno datano datano data
Grzegorz Para
Head of Investor Relationsno datano datano data

2.5yrs

Average Tenure

Experienced Management: CPS's management team is considered experienced (2.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Robert Gwiazdowski
Independent Member of the Supervisory Board12yrszł180.00kno data
Leszek Reksa
Independent Member of the Supervisory Board12yrszł180.00kno data
Aleksander Myszka
Member of the Supervisory Board5.25yrszł180.00k0.0085% PLN1.5m
Józef Birka
Member of the Supervisory Board5.25yrszł180.00kno data
Tomasz Szelag
Member of the Supervisory Board3.75yrszł180.00k0.0040% PLN697.7k
Marek Kapuscinski
Chairman of the Supervisory Board3.75yrszł240.00k0.0035% PLN605.0k
Piotr Zak
Member of the Supervisory Board2.08yrszł180.00kno data

5.3yrs

Average Tenure

Experienced Board: CPS's board of directors are considered experienced (5.3 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

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: zł17.485b
  • Shares outstanding: 639.55m
  • Website: https://www.cyfrowypolsat.pl

Number of Employees


Location

  • Cyfrowy Polsat S.A.
  • ul. 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
CYFW.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDJul 2012

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 Business Customers; and Broadcasting and Television Production. The Services to Individual and Business Customers segment offers digital pay TV, video online, mobile telephony, and broadband Internet access services; bundled services and end-user devices; and smartDOM and smartFIRMA programs. It also provides services to other telecommunication operators, such as network interconnection, roaming, shared access to network assets, and lease of network infrastructure; and services to mobile virtual network operators, as well as produces set-top boxes; and sells telecommunication equipment. It offers approximately 170 TV channels, including terrestrial, general entertainment, sports and e-sports, music, lifestyle, news/information, children’s, education, and movie channels; and over the top services, such as Cyfrowy Polsat Go, VOD/PPV, online video and music, catch-up TV, and multiroom HD services. The Broadcasting and Television Production segment produces, acquires, and broadcasts information and entertainment programs, as well as TV series and feature films broadcasted on television and radio channels; and sells TV channel advertising airtime and sponsoring, and channel broadcasting rights. It is also involved in trading of gaseous fuels; technical services; Web portal; and other financial supporting services. The company was formerly known as Polsat Cyfrowy S.A. and changed its name to Cyfrowy Polsat S.A. in 2004. Cyfrowy Polsat S.A. was founded in 1996 and is based in Warsaw, Poland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/04 20:51
End of Day Share Price2020/07/03 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.