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British Automotive Holding

WSE:BAH
Snowflake Description

Slightly overvalued with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BAH
WSE
PLN95M
Market Cap
  1. Home
  2. PL
  3. Retail
Company description

British Automotive Holding S.A. imports, sells, services, and markets cars and spare parts in Poland. The last earnings update was 20 days ago. More info.


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  • British Automotive Holding has significant price volatility in the past 3 months.
BAH Share Price and Events
7 Day Returns
-5%
WSE:BAH
-0.3%
PL Specialty Retail
1%
PL Market
1 Year Returns
-60.8%
WSE:BAH
-9.2%
PL Specialty Retail
2.6%
PL Market
BAH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
British Automotive Holding (BAH) -5% 10.4% -12.5% -60.8% -66.9% -65.5%
PL Specialty Retail -0.3% -1.6% -2.8% -9.2% 3% -36.2%
PL Market 1% 4.6% -3.1% 2.6% 15% -7.4%
1 Year Return vs Industry and Market
  • BAH underperformed the Specialty Retail industry which returned -9.2% over the past year.
  • BAH underperformed the Market in Poland which returned 2.6% over the past year.
Price Volatility
BAH
Industry
5yr Volatility vs Market

Value

 Is British Automotive Holding 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 British Automotive Holding 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 British Automotive Holding.

WSE:BAH 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 15.2%
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:BAH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Specialty Retail Unlevered Beta Simply Wall St/ S&P Global 0.86
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.864 (1 + (1- 19%) (174.72%))
1.728
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.73
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.728 * 7.14%)
15.19%

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

The calculations below outline how an intrinsic value for British Automotive Holding 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:BAH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 15.19%)
2019 5.89 Est @ 22.71% 5.12
2020 6.88 Est @ 16.75% 5.19
2021 7.75 Est @ 12.58% 5.07
2022 8.50 Est @ 9.66% 4.83
2023 9.14 Est @ 7.62% 4.51
2024 9.71 Est @ 6.19% 4.16
2025 10.21 Est @ 5.19% 3.80
2026 10.67 Est @ 4.49% 3.44
2027 11.10 Est @ 3.99% 3.11
2028 11.50 Est @ 3.65% 2.80
Present value of next 10 years cash flows PLN42.01
WSE:BAH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN11.50 × (1 + 2.85%) ÷ (15.19% – 2.85%)
PLN95.87
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN95.87 ÷ (1 + 15.19%)10
PLN23.31
WSE:BAH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN42.01 + PLN23.31
PLN65.31
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN65.31 / 41.55
PLN1.57
WSE:BAH Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN1.57
Current discount Discount to share price of PLN2.28
= -1 x (PLN2.28 - PLN1.57) / PLN1.57
-44.7%

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

  • The current share price of British Automotive Holding 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 British Automotive Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are British Automotive Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:BAH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PLN PLN0.36
WSE:BAH Share Price ** WSE (2019-06-19) in PLN PLN2.28
Poland Specialty Retail Industry PE Ratio Median Figure of 7 Publicly-Listed Specialty Retail Companies 8.96x
Poland Market PE Ratio Median Figure of 455 Publicly-Listed Companies 10.82x

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

** Primary Listing of British Automotive Holding.

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

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

= 2.28 ÷ 0.36

6.28x

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

  • British Automotive Holding is good value based on earnings compared to the PL Specialty Retail industry average.
  • British Automotive Holding is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does British Automotive Holding's expected growth come at a high price?
Raw Data
WSE:BAH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.28x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
7.5%per year
Europe Specialty Retail Industry PEG Ratio Median Figure of 57 Publicly-Listed Specialty Retail Companies 1.4x
Poland Market PEG Ratio Median Figure of 109 Publicly-Listed Companies 1.05x

*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 British Automotive Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on British Automotive Holding's assets?
Raw Data
WSE:BAH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PLN PLN1.24
WSE:BAH Share Price * WSE (2019-06-19) in PLN PLN2.28
Poland Specialty Retail Industry PB Ratio Median Figure of 16 Publicly-Listed Specialty Retail Companies 1.45x
Poland Market PB Ratio Median Figure of 687 Publicly-Listed Companies 0.98x
WSE:BAH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 2.28 ÷ 1.24

1.83x

* Primary Listing of British Automotive Holding.

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

  • British Automotive Holding is overvalued based on assets compared to the PL Specialty Retail industry average.
X
Value checks
We assess British Automotive Holding'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 Specialty Retail 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 Specialty Retail industry average (and greater than 0)? (1 check)
  5. British Automotive Holding has a total score of 2/6, 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.

Future Performance

 How is British Automotive Holding expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover British Automotive Holding, 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
7.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is British Automotive Holding expected to grow at an attractive rate?
  • British Automotive Holding's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • British Automotive Holding's earnings growth is positive but not above the Poland market average.
  • Unable to compare British Automotive Holding's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:BAH Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:BAH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 7.5%
Poland Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 7.8%
Europe Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 5%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.5%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.6%

*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:BAH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 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:BAH Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
WSE:BAH Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-03-31 1,001 28 15
2018-12-31 908 -15 18
2018-09-30 868 -70 28
2018-06-30 814 -123 34
2018-03-31 782 -80 44
2017-12-31 737 -102 48
2017-09-30 729 -45 55
2017-06-30 718 -52 51
2017-03-31 691 -5 53
2016-12-31 654 99 47
2016-09-30 464 42 49
2016-06-30 401 70 37

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • British Automotive Holding's earnings are expected to grow by 7.5% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if British Automotive Holding 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:BAH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from British Automotive Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:BAH Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
WSE:BAH Past Financials Data
Date (Data in PLN Millions) EPS *
2019-03-31 0.36
2018-12-31 0.44
2018-09-30 0.67
2018-06-30 0.83
2018-03-31 1.05
2017-12-31 1.16
2017-09-30 1.31
2017-06-30 1.20
2017-03-31 1.28
2016-12-31 1.12
2016-09-30 1.18
2016-06-30 0.91

*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 British Automotive Holding will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess British Automotive Holding'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.
British Automotive Holding has a total score of 1/6, 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.

Past Performance

  How has British Automotive Holding 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 British Automotive Holding's growth in the last year to its industry (Specialty Retail).
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.
  • British Automotive Holding's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • British Automotive Holding's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • British Automotive Holding's 1-year earnings growth is negative, it can't be compared to the PL Specialty Retail industry average.
Earnings and Revenue History
British Automotive Holding'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 British Automotive Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:BAH 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 1,000.71 15.05 68.63
2018-12-31 907.90 18.44 59.84
2018-09-30 867.63 27.78 58.85
2018-06-30 814.29 34.47 53.36
2018-03-31 782.32 43.82 57.00
2017-12-31 737.14 48.06 51.03
2017-09-30 729.40 54.51 53.99
2017-06-30 717.79 50.57 57.54
2017-03-31 691.40 53.07 50.10
2016-12-31 653.87 46.73 49.29
2016-09-30 464.12 49.23 -68.16
2016-06-30 400.57 37.29 -47.72
2016-03-31 382.29 27.14 -10.15
2015-12-31 411.45 25.04 27.16
2015-09-30 569.31 9.07 210.11
2015-06-30 719.42 27.21 335.08
2015-03-31 714.68 31.09 326.08
2014-12-31 746.00 46.21 372.88
2014-09-30 817.97 49.91 419.59
2014-06-30 645.71 32.23 282.70
2014-03-31 601.54 27.53 280.22
2013-12-31 508.19 13.65 216.60
2013-09-30 406.99 30.98 142.49
2013-06-30 388.56 26.79 140.63
2013-03-31 368.63 21.51 122.21
2012-12-31 357.31 17.73 117.21
2012-09-30 340.03 -2.33 111.19
2012-06-30 341.95 16.26 104.71

*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.
  • Whilst British Automotive Holding has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • British Automotive Holding used its assets less efficiently than the PL Specialty Retail industry average last year based on Return on Assets.
  • British Automotive Holding has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess British Automotive Holding'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 Specialty Retail 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.
British Automotive Holding has a total score of 1/6, 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.

Health

 How is British Automotive Holding'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 British Automotive Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • British Automotive Holding's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • British Automotive Holding's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of British Automotive Holding'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.1x 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 British Automotive Holding Company Filings, last reported 2 months ago.

WSE:BAH Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 51.68 165.17 38.06
2018-12-31 46.30 163.15 27.06
2018-09-30 60.08 211.23 28.57
2018-06-30 51.32 215.74 17.46
2018-03-31 85.66 124.23 43.71
2017-12-31 76.89 93.28 50.86
2017-09-30 410.01 73.17 50.43
2017-06-30 394.57 49.93 49.16
2017-03-31 407.60 34.92 92.54
2016-12-31 390.51 77.03 105.06
2016-09-30 368.84 274.10 157.57
2016-06-30 340.89 268.45 206.80
2016-03-31 334.46 239.31 204.31
2015-12-31 326.06 254.03 164.37
2015-09-30 303.88 249.39 141.64
2015-06-30 303.86 214.65 126.57
2015-03-31 298.10 256.99 153.42
2014-12-31 292.90 279.70 83.65
2014-09-30 291.83 308.81 55.05
2014-06-30 276.93 308.93 55.02
2014-03-31 267.68 342.80 55.91
2013-12-31 247.77 352.87 33.66
2013-09-30 224.71 398.16 20.57
2013-06-30 224.68 423.15 30.12
2013-03-31 223.15 413.84 32.25
2012-12-31 217.40 402.74 3.56
2012-09-30 197.18 414.07 10.42
2012-06-30 201.71 368.80 7.44
  • British Automotive Holding's level of debt (319.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (127.9% vs 319.6% today).
  • Debt is not well covered by operating cash flow (16.8%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.5x coverage).
X
Financial health checks
We assess British Automotive Holding'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. British Automotive Holding has a total score of 2/6, 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.

Dividends

 What is British Automotive Holding'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
15.38%
Current annual income from British Automotive Holding dividends.
If you bought PLN2,000 of British Automotive Holding shares you are expected to receive PLN308 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?
  • British Automotive Holding's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.85%).
  • British Automotive Holding's dividend is above the markets top 25% of dividend payers in Poland (7.53%).
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:BAH 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 Specialty Retail Industry Average Dividend Yield Market Cap Weighted Average of 60 Stocks 3.9%
Poland Market Average Dividend Yield Market Cap Weighted Average of 203 Stocks 4.2%
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 7.5%

Industry and Market average data is calculated daily.

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

WSE:BAH Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
WSE:BAH Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2019-05-30 0.350 14.694
2019-03-29 0.350 15.160
2018-05-30 0.920 40.553
2018-04-03 0.920 10.991
2017-05-30 0.410 3.585
2017-03-29 0.410 3.114
2016-11-14 0.110 0.935
2016-03-21 0.110 1.453
2016-01-15 0.110 1.845

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

  • British Automotive Holding has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but British Automotive Holding only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of British Automotive Holding's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
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 British Automotive Holding'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 British Automotive Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. British Automotive Holding has a total score of 2/6, see the detailed checks below.


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

Management

 What is the CEO of British Automotive Holding'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
Mariusz Ksiazek
COMPENSATION PLN0
CEO Bio

Mr. Mariusz Wojciech Ksiazek founded Marvipol S.A. serves as its President of Management Board. Mr. Ksiazek served as the Chief Executive Officer of Marvipol Spólka Akcyjna until January 22nd 2016. Mr. Ksiazek served as the President of Management Board at Marvipol S.A. until April 9, 2010. Mr. Ksiazek served as the Chairman of Member of Supervisory Board at Marvipol S.A. since May 2010. He got Manager of the Year 2005 (Home & Market award). Mr. Ksiazek holds Master's Degree in Law & Administration from Warsaw University.

CEO Compensation
  • Mariusz's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Mariusz's remuneration is higher than average for companies of similar size in Poland.
Management Team

Mariusz Ksiazek

TITLE
Founder and President of The Management Board

Mariusz Polawski

TITLE
Member of Management Board
Board of Directors

Aleksander Chlopecki

TITLE
Chairman of The Supervisory Board

Wieslaw Latala

TITLE
Vice-President of Supervisory Board

Wieslaw Rózacki

TITLE
Member of the Supervisory Board

Andrzej Malinowski

TITLE
Member of Supervisory Board

Krzysztof Brejdak

TITLE
Member of Supervisory Board
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (PLN) Value (PLN)
X
Management checks
We assess British Automotive Holding'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. British Automotive Holding 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.

News

Simply Wall St News

Is British Automotive Holding S.A.'s (WSE:BAH) 46% Better Than Average?

British Automotive Holding has a ROE of 46%, based on the last twelve months. … That means that for every PLN1 worth of shareholders' equity, it generated PLN0.46 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Understanding Your Return On Investment In British Automotive Holding SA (WSE:BAH)

and want to begin learning the link between British Automotive Holding SA (WSE:BAH)’s return fundamentals and stock market performance. … Therefore, looking at how efficiently British Automotive Holding is able to use capital to create earnings will help us understand your potential return. … Check out our latest analysis for British Automotive Holding

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Can British Automotive Holding SA's (WSE:BAH) ROE Continue To Surpass The Industry Average?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … With an ROE of 51.16%, British Automotive Holding SA (WSE:BAH) outpaced its own industry which delivered a less exciting 16.01% over the past year. … See our latest analysis for British Automotive Holding

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Interested In British Automotive Holding SA (WSE:BAH)? Here's How It Performed Recently

Assessing British Automotive Holding SA's (WSE:BAH) past track record of performance is an insightful exercise for investors. … Today I will assess BAH's recent performance announced on 31 March 2018 and evaluate these figures to its long-term trend and industry movements. … See our latest analysis for British Automotive Holding?

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Is British Automotive Holding SA's (WSE:BAH) PE Ratio A Signal To Sell For Investors?

The current price of BAH places the company at a discounted trailing PE of 5.46x,. … However, a static multiple such as PE is never conclusive on its own. … Below, I will lay out some important considerations to help determine which multiple best suits

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Should British Automotive Holding SA (WSE:BAH) Be Part Of Your Portfolio?

A large part of investment returns can be generated by dividend-paying stock given their role in compounding returns over time. … In the past 2 years British Automotive Holding SA (WSE:BAH) has returned an average of 3.00% per year to investors in the form of dividend payouts. … Does British Automotive Holding tick all the boxes of a great dividend stock?

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Why British Automotive Holding SA (WSE:BAH) Should Have A Place In Your Portfolio

Attractive stocks have exceptional fundamentals. … In the case of British Automotive Holding SA (WSE:BAH), there's

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Is British Automotive Holding SA.'s (WSE:BAH) PE Ratio A Signal To Buy For Investors?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for BAH Price per share = PLN6.12 Earnings per share = PLN1.157 ∴ Price-Earnings Ratio = PLN6.12 ÷ PLN1.157 = 5.3x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you accidentally compared higher growth firms with BAH, then BAH’s P/E would naturally be lower since investors would reward its peers’ higher growth with a higher price. … Alternatively, if you inadvertently compared less risky firms with BAH, BAH’s P/E would again be lower since investors would reward its peers’ lower risk with a higher price as well.

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What does British Automotive Holding SA.'s (WSE:BAH) Balance Sheet Tell Us About Its Future?

Moving onto cash from operations, its small level of operating cash flow means calculating cash-to-debt wouldn't be too useful, though these low levels of cash means that operational efficiency is worth a look. … In BAH's case, the ratio of 18.3x suggests that interest is comfortably covered, which means that debtors may be willing to loan the company more money, giving BAH ample headroom to grow its debt facilities.Next Steps: BAH’s debt and cash flow levels indicate room for improvement. … Its cash flow coverage of less than a quarter of debt means that operating efficiency could be an issue.

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Should You Expect British Automotive Holding SA. (WSE:BAH) To Continue Delivering An ROE Of 62.50%?

Check out our latest analysis for British Automotive Holding What you must know about ROE Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … British Automotive Holding’s cost of equity is 8.67%. … British Automotive Holding’s above-industry ROE is encouraging, and is also in excess of its cost of equity.

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Company Info

Description

British Automotive Holding S.A. imports, sells, services, and markets cars and spare parts in Poland. It offers cars of various brands, including Jaguar, Land Rover, and Aston Martin; and repair services. The company also operates car wash stations under the Robo Wash Center name. In addition, it develops residential and commercial real estate projects; and provides real estate consultancy and agency services. The company was formerly known as Marvipol S.A. and changed its name to British Automotive Holding S.A. in December 2017. The company was founded in 1996 and is headquartered in Warsaw, Poland. British Automotive Holding S.A. is a subsidiary of Ksiazek Holding Sp. z.o.o.

Details
Name: British Automotive Holding S.A.
BAH
Exchange: WSE
Founded: 1996
PLN94,530,463
41,551,852
Website: http://www.marvipol.pl
Address: British Automotive Holding S.A.
ul. Prosta 32,
Warsaw,
00-838,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE BAH Common Bearer Shares Warsaw Stock Exchange PL PLN 20. Jun 2008
Number of employees
Current staff
Staff numbers
0
British Automotive Holding employees.
Industry
Automotive Retail
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/19 21:09
End of day share price update: 2019/06/19 00:00
Last estimates confirmation: 2019/03/29
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.