WSE:ICD

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Intercapital Property Development ADSIC

Executive Summary

Intercapital Property Development ADSIC operates as a special purpose real estate investment trust (REIT) for real estate securitization in Bulgaria.


Snowflake Analysis

Slightly overvalued with imperfect balance sheet.

Share Price & News

How has Intercapital Property Development ADSIC's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

46.3%

ICD

-2.1%

PL REITs

-0.09%

PL Market


1 Year Return

n/a

ICD

-20.0%

PL REITs

-15.9%

PL Market

Return vs Industry: Insufficient data to determine how ICD performed against the Polish REITs industry.

Return vs Market: Insufficient data to determine how ICD performed against the Polish Market.


Shareholder returns

ICDIndustryMarket
7 Day46.3%-2.1%-0.09%
30 Day-1.7%-2.8%2.8%
90 Day50.8%-1.5%13.2%
1 Yearn/a-16.1%-20.0%-14.4%-15.9%
3 Year244.1%244.1%-1.6%-14.7%-19.1%-24.1%
5 Year-0.8%-0.8%3.4%-17.8%-9.3%-19.6%

Price Volatility Vs. Market

How volatile is Intercapital Property Development ADSIC's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Intercapital Property Development ADSIC undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ICD (PLN0.59) is trading below our estimate of fair value (PLN20.47)

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


Price To Earnings Ratio

PE vs Industry: ICD is unprofitable, so we can't compare its PE Ratio to the XE REITs industry average.

PE vs Market: ICD 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 ICD's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ICD has negative assets, so we can't compare its PB Ratio to the XE REITs industry average.


Next Steps

Future Growth

How is Intercapital Property Development ADSIC forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

16.9%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Intercapital Property Development ADSIC has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Intercapital Property Development ADSIC performed over the past 5 years?

-61.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ICD is currently unprofitable.

Growing Profit Margin: ICD is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ICD is unprofitable, and losses have increased over the past 5 years at a rate of -61% per year.

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

Earnings vs Industry: ICD is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (8.1%).


Return on Equity

High ROE: ICD's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Next Steps

Financial Health

How is Intercapital Property Development ADSIC's financial position?


Financial Position Analysis

Short Term Liabilities: ICD has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: ICD has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: ICD has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: ICD's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


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 ICD has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: ICD is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 48% per year.


Next Steps

Dividend

What is Intercapital Property Development ADSIC current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

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

High Dividend: Unable to evaluate ICD'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 ICD's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ICD's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ICD is not paying a notable dividend for the Polish market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ICD'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?


CEO

Intercapital Property Development ADSIC has no CEO, or we have no data on them.


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

Intercapital Property Development ADSIC's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Intercapital Property Development ADSIC
  • Ticker: ICD
  • Exchange: WSE
  • Founded:
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: лв1.323m
  • Listing Market Cap: лв3.033m
  • Shares outstanding: 6.01m
  • Website: https://icpd.bg

Number of Employees


Location

  • Intercapital Property Development ADSIC
  • 6 Dobrudzha Street
  • 4th Floor
  • Sofia
  • 1000
  • Bulgaria

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
4ICBUL (Bulgaria Stock Exchange)YesOrdinary SharesBGBGNApr 2008
ICDWSE (Warsaw Stock Exchange)YesOrdinary SharesPLPLNApr 2008

Biography

Intercapital Property Development ADSIC operates as a special purpose real estate investment trust (REIT) for real estate securitization in Bulgaria. Its investment projects include Marina Cape and Grand Borovetz. The company has elected to be taxed as REIT under the Internal Revenue Code. As a REIT, it would not be subject to federal income tax purposes, provided that it distributes at least 90% of its REIT taxable income to its stockholders. The company is based in Sofia, Bulgaria. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/13 21:50
End of Day Share Price2020/07/13 00:00
Earnings2019/12/31
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.