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T-Bull

WSE:TBL
Snowflake Description

Excellent balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TBL
WSE
PLN28M
Market Cap
  1. Home
  2. PL
  3. Media
Company description

T-Bull S.A. engages in the design, manufacture, and distribution of games for mobile devices in Poland. The last earnings update was 48 days ago. More info.


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  • T-Bull has significant price volatility in the past 3 months.
TBL Share Price and Events
7 Day Returns
-0.8%
WSE:TBL
2%
PL Entertainment
-0%
PL Market
1 Year Returns
-60.3%
WSE:TBL
6.3%
PL Entertainment
3.1%
PL Market
TBL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
T-Bull (TBL) -0.8% -7.7% -30.4% -60.3% - -
PL Entertainment 2% 4.3% 6.5% 6.3% 407.5% 910.2%
PL Market -0% 1.4% -2.8% 3.1% 15.1% -4.4%
1 Year Return vs Industry and Market
  • TBL underperformed the Entertainment industry which returned 6.3% over the past year.
  • TBL underperformed the Market in Poland which returned 3.1% over the past year.
Price Volatility
TBL
Industry
5yr Volatility vs Market

TBL Value

 Is T-Bull undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of T-Bull to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for T-Bull.

WSE:TBL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 9.9%
Perpetual Growth Rate 10-Year PL Government Bond Rate 2.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WSE:TBL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.913 (1 + (1- 19%) (9.67%))
0.99
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.99
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (0.99 * 7.14%)
9.92%

Discounted Cash Flow Calculation for WSE:TBL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for T-Bull is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WSE:TBL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 9.92%)
2020 0.28 Est @ -32.19% 0.25
2021 0.22 Est @ -21.68% 0.18
2022 0.19 Est @ -14.32% 0.14
2023 0.17 Est @ -9.17% 0.12
2024 0.16 Est @ -5.56% 0.10
2025 0.16 Est @ -3.04% 0.09
2026 0.15 Est @ -1.27% 0.08
2027 0.15 Est @ -0.04% 0.07
2028 0.15 Est @ 0.83% 0.07
2029 0.16 Est @ 1.44% 0.06
Present value of next 10 years cash flows PLN1.15
WSE:TBL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= PLN0.16 × (1 + 2.85%) ÷ (9.92% – 2.85%)
PLN2.28
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN2.28 ÷ (1 + 9.92%)10
PLN0.88
WSE:TBL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN1.15 + PLN0.88
PLN2.04
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN2.04 / 1.16
PLN1.75
WSE:TBL Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN1.75
Current discount Discount to share price of PLN24.00
= -1 x (PLN24.00 - PLN1.75) / PLN1.75
-1268.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of T-Bull is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for T-Bull's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are T-Bull's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:TBL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PLN PLN0.37
WSE:TBL Share Price ** WSE (2019-07-17) in PLN PLN24
Poland Entertainment Industry PE Ratio Median Figure of 20 Publicly-Listed Entertainment Companies 23.32x
Poland Market PE Ratio Median Figure of 455 Publicly-Listed Companies 10.8x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of T-Bull.

WSE:TBL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= WSE:TBL Share Price ÷ EPS (both in PLN)

= 24 ÷ 0.37

64.82x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • T-Bull is overvalued based on earnings compared to the PL Entertainment industry average.
  • T-Bull is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does T-Bull's expected growth come at a high price?
Raw Data
WSE:TBL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 64.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
32.4%per year
Europe Entertainment Industry PEG Ratio Median Figure of 31 Publicly-Listed Entertainment Companies 1.58x
Poland Market PEG Ratio Median Figure of 105 Publicly-Listed Companies 1.19x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for T-Bull, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on T-Bull's assets?
Raw Data
WSE:TBL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PLN PLN13.23
WSE:TBL Share Price * WSE (2019-07-17) in PLN PLN24
Poland Entertainment Industry PB Ratio Median Figure of 35 Publicly-Listed Entertainment Companies 4.86x
Poland Market PB Ratio Median Figure of 684 Publicly-Listed Companies 0.97x
WSE:TBL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= WSE:TBL Share Price ÷ Book Value per Share (both in PLN)

= 24 ÷ 13.23

1.81x

* Primary Listing of T-Bull.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • T-Bull is good value based on assets compared to the PL Entertainment industry average.
X
Value checks
We assess T-Bull's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Entertainment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Entertainment industry average (and greater than 0)? (1 check)
  5. T-Bull has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TBL Future Performance

 How is T-Bull expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover T-Bull, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
32.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is T-Bull expected to grow at an attractive rate?
  • T-Bull's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • T-Bull's earnings growth is expected to exceed the Poland market average.
  • Unable to compare T-Bull's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:TBL Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:TBL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 32.4%
Poland Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 30.3%
Europe Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 7.9%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.2%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WSE:TBL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:TBL Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-03-31 7 7 0
2018-12-31 7 7 1
2018-09-30 6 7 4
2018-06-30 6 7 5
2018-03-31 7 7 5
2017-12-31 9 8 6
2017-09-30 11 10 5
2017-06-30 12 8 5
2017-03-31 15 8 5
2016-12-31 14 8 5
2016-09-30 13 7 4
2016-06-30 12 7 3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • T-Bull's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if T-Bull is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WSE:TBL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from T-Bull Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:TBL Past Financials Data
Date (Data in PLN Millions) EPS *
2019-03-31 0.37
2018-12-31 0.43
2018-09-30 3.96
2018-06-30 4.35
2018-03-31 4.77
2017-12-31 5.04
2017-09-30 4.56
2017-06-30 4.55
2017-03-31 4.67
2016-12-31 4.66
2016-09-30 3.89
2016-06-30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if T-Bull will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess T-Bull's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Poland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
T-Bull has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TBL Past Performance

  How has T-Bull performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare T-Bull's growth in the last year to its industry (Entertainment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • T-Bull's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • T-Bull's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • T-Bull's 1-year earnings growth is negative, it can't be compared to the PL Entertainment industry average.
Earnings and Revenue History
T-Bull's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from T-Bull Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:TBL Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 6.91 0.43 1.11
2018-12-31 7.23 0.50 1.06
2018-09-30 6.34 4.45 -0.38
2018-06-30 6.45 4.89 -0.27
2018-03-31 7.10 5.30 0.30
2017-12-31 8.91 5.66 1.12
2017-09-30 11.27 5.13 2.81
2017-06-30 11.57 5.02 2.70
2017-03-31 14.64 5.14 3.89
2016-12-31 13.60 5.00 3.35
2016-09-30 12.89 4.28 2.64
2016-06-30 11.58 3.15 2.57
2016-03-31 8.82 2.19 2.04
2015-12-31 6.82 1.40 1.67

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • T-Bull has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • T-Bull used its assets less efficiently than the PL Entertainment industry average last year based on Return on Assets.
  • T-Bull's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess T-Bull's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Entertainment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
T-Bull has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TBL Health

 How is T-Bull's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up T-Bull's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • T-Bull is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • T-Bull's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of T-Bull's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from T-Bull Company Filings, last reported 3 months ago.

WSE:TBL Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 15.37 2.70 0.10
2018-12-31 14.55 2.50 0.52
2018-09-30 15.42 2.60 0.59
2018-06-30 14.57 3.06 0.59
2018-03-31 13.85 1.86 0.52
2017-12-31 13.51 1.58 0.52
2017-09-30
2017-06-30 10.23 0.00 0.03
2017-03-31 9.10 0.00 0.28
2016-12-31 7.85 1.20 0.25
2016-09-30 6.39 0.00 0.59
2016-06-30 5.22 0.00 0.80
2016-03-31 2.84 1.40 0.66
2015-12-31 2.84 1.40 0.66
  • T-Bull's level of debt (17.5%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if T-Bull's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (260.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12.2x coverage).
X
Financial health checks
We assess T-Bull's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. T-Bull has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TBL Dividends

 What is T-Bull's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from T-Bull dividends.
If you bought PLN2,000 of T-Bull shares you are expected to receive PLN0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate T-Bull's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate T-Bull's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WSE:TBL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Europe Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 2%
Poland Market Average Dividend Yield Market Cap Weighted Average of 203 Stocks 4.3%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.4%
Poland Bottom 25% Dividend Yield 25th Percentile 2.9%
Poland Top 25% Dividend Yield 75th Percentile 7.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as T-Bull has not reported any payouts.
  • Unable to verify if T-Bull's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of T-Bull's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as T-Bull has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess T-Bull's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.4%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can T-Bull afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. T-Bull has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TBL Management

 What is the CEO of T-Bull's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Grzegorz Zwolinski
CEO Bio

Mr. Grzegorz Zwolinski is a Co-Founder of T-Bull S.A and serves as its President of the Management Board. Mr. Zwolinski served as Chairman of the Board at T-Bull S.A and he also attended Art School in Milan.

CEO Compensation
  • Insufficient data for Grzegorz to compare compensation growth.
  • Insufficient data for Grzegorz to establish whether their remuneration is reasonable compared to companies of similar size in Poland.
Management Team

Grzegorz Zwolinski

TITLE
Co-Founder & President of the Management Board

Damian Fijalkowski

TITLE
Co-Founder & Member of the Management Board
Board of Directors

Radoslaw Lapczynski

TITLE
Chairman of Supervisory Board

Pawel Niklewicz

TITLE
Vice Chairman of Supervisory Board

Bartosz Greczner

TITLE
Member of Supervisory Board

Wojciech Ratymirski

TITLE
Member of the Supervisory Board

Krzysztof Klysz

TITLE
Member of the Supervisory Board
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (PLN) Value (PLN)
X
Management checks
We assess T-Bull's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. T-Bull has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TBL News

Simply Wall St News

Here's What T-Bull S.A.'s (WSE:TBL) P/E Ratio Is Telling Us

The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for T-Bull: P/E of 8.63 = PLN29.9 ÷ PLN3.46 (Based on the year to September 2018.) Is A High Price-to-Earnings Ratio Good? … WSE:TBL Price Estimation Relative to Market, June 12th 2019 Its relatively low P/E ratio indicates that T-Bull shareholders think it will struggle to do as well as other companies in its industry classification. … If the reality for a company is not as bad as the P/E ratio indicates, then the share price should increase as the market realizes this.

Simply Wall St -

Should You Consider T-Bull S.A. (WSE:TBL)?

TBL's share price is trading at below its true value, meaning that the market sentiment for the stock is currently bearish. … WSE:TBL Price Estimation Relative to Market, May 22nd 2019 Next Steps: For T-Bull, I've put together three important factors you should further research: Future Outlook: What are well-informed industry analysts predicting for TBL’s future growth? … Take a look at our free research report of analyst consensus for TBL’s outlook.

Simply Wall St -

What Type Of Shareholder Owns T-Bull S.A.'s (WSE:TBL)?

The big shareholder groups in T-Bull S.A. … T-Bull is a smaller company with a market capitalization of zł40m, so it may still be flying under the radar of many institutional investors. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

With A Return On Equity Of 25%, Has T-Bull S.A.'s (WSE:TBL) Management Done Well?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each PLN1 of shareholders' equity it has, the company made PLN0.25 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Do T-Bull S.A.’s (WSE:TBL) Returns On Capital Employed Make The Cut?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

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Did Changing Sentiment Drive T-Bull's Share Price Down A Worrying 70%?

Specifically, the stock price slipped by 70% in that time. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … The company's earnings per share (over time) is depicted in the image below (click to see the exact numbers).

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Do You Like T-Bull SA (WSE:TBL) At This P/E Ratio?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … To keep it practical, we'll show how T-Bull SA's (WSE:TBL) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

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How Did T-Bull SA's (WSE:TBL) 30% ROE Fare Against The Industry?

This article is for those who would like to learn about Return On Equity (ROE). … Another way to think of that is that for every PLN1 worth of equity in the company, it was able to earn PLN0.30. … Return on Equity = Net Profit ÷ Shareholders' Equity

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T-Bull SA (WSE:TBL): Time For A Financial Health Check

T-Bull SA (WSE:TBL) is a small-cap stock with a market capitalization of zł48.56m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is

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Who Are The Largest Shareholders In T-Bull SA (WSE:TBL)?

Today, I will be analyzing T-Bull SA’s (WSE:TBL) recent ownership structure, an important but not-so-popular subject among individual investors. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders.

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TBL Company Info

Description

T-Bull S.A. engages in the design, manufacture, and distribution of games for mobile devices in Poland. The company’s games include Tank Battle Heroes, Idle Racing GO, Top Speed, Moto Rider GO, Traffic Xtreme 3D, Best Sniper, Racing Xtreme, Top Boat, Road Racing, and Top Bike. It provides its games through various platforms. The company is based in Wroclaw, Poland.

Details
Name: T-Bull S.A.
TBL
Exchange: WSE
Founded:
PLN27,887,736
1,161,989
Website: http://t-bull.com
Address: T-Bull S.A.
ul. Szczesliwa 33/2.B.09,
Wroclaw,
53-445,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE TBL Bearer Shares Warsaw Stock Exchange PL PLN 03. Nov 2016
BST TBU Bearer Shares Boerse-Stuttgart DE EUR 03. Nov 2016
Number of employees
Current staff
Staff numbers
0
T-Bull employees.
Industry
Interactive Home Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/17 22:02
End of day share price update: 2019/07/17 00:00
Last earnings filing: 2019/05/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.