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Premium Fund

WSE:PMF
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PMF
WSE
PLN6M
Market Cap
  1. Home
  2. PL
  3. Retail
Company description

Premium Fund S.A. engages in the retail sale of tobacco in Poland. The last earnings update was 67 days ago. More info.


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  • Premium Fund has significant price volatility in the past 3 months.
PMF Share Price and Events
7 Day Returns
5.1%
WSE:PMF
-3.2%
PL Specialty Retail
-0.9%
PL Market
1 Year Returns
416.7%
WSE:PMF
-18.3%
PL Specialty Retail
-7.4%
PL Market
PMF Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Premium Fund (PMF) 5.1% 24% 210% 416.7% 106.7% 93.8%
PL Specialty Retail -3.2% -5.2% 6% -18.3% -25.4% -41.9%
PL Market -0.9% -7.5% -6.6% -7.4% 9.6% -11.5%
1 Year Return vs Industry and Market
  • PMF outperformed the Specialty Retail industry which returned -18.3% over the past year.
  • PMF outperformed the Market in Poland which returned -7.4% over the past year.
Price Volatility
PMF
Industry
5yr Volatility vs Market

Value

 Is Premium Fund 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 Premium Fund 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 Premium Fund.

WSE:PMF 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 9.5%
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:PMF
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 0.9
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.898 (1 + (1- 19%) (0%))
0.931
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (0.931 * 7.14%)
9.5%

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

The calculations below outline how an intrinsic value for Premium Fund 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:PMF DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 9.5%)
2019 0.13 Est @ 14.45% 0.12
2020 0.14 Est @ 10.97% 0.12
2021 0.16 Est @ 8.53% 0.12
2022 0.17 Est @ 6.83% 0.12
2023 0.18 Est @ 5.64% 0.11
2024 0.18 Est @ 4.8% 0.11
2025 0.19 Est @ 4.21% 0.10
2026 0.20 Est @ 3.81% 0.10
2027 0.21 Est @ 3.52% 0.09
2028 0.21 Est @ 3.32% 0.09
Present value of next 10 years cash flows PLN1.06
WSE:PMF DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN0.21 × (1 + 2.85%) ÷ (9.5% – 2.85%)
PLN3.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN3.29 ÷ (1 + 9.5%)10
PLN1.33
WSE:PMF Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN1.06 + PLN1.33
PLN2.39
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN2.39 / 9.20
PLN0.26
WSE:PMF Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN0.26
Current discount Discount to share price of PLN0.62
= -1 x (PLN0.62 - PLN0.26) / PLN0.26
-138.5%

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

  • The current share price of Premium Fund 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 Premium Fund's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Premium Fund's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:PMF PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN0.02
WSE:PMF Share Price ** WSE (2019-05-17) in PLN PLN0.62
Poland Specialty Retail Industry PE Ratio Median Figure of 10 Publicly-Listed Specialty Retail Companies 7.38x
Poland Market PE Ratio Median Figure of 462 Publicly-Listed Companies 10.69x

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

** Primary Listing of Premium Fund.

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

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

= 0.62 ÷ 0.02

38.39x

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

  • Premium Fund is overvalued based on earnings compared to the PL Specialty Retail industry average.
  • Premium Fund is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does Premium Fund's expected growth come at a high price?
Raw Data
WSE:PMF PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 38.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Specialty Retail Industry PEG Ratio Median Figure of 56 Publicly-Listed Specialty Retail Companies 1.31x
Poland Market PEG Ratio Median Figure of 113 Publicly-Listed Companies 0.93x

*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 Premium Fund, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Premium Fund's assets?
Raw Data
WSE:PMF PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN0.02
WSE:PMF Share Price * WSE (2019-05-17) in PLN PLN0.62
Poland Specialty Retail Industry PB Ratio Median Figure of 17 Publicly-Listed Specialty Retail Companies 1.41x
Poland Market PB Ratio Median Figure of 688 Publicly-Listed Companies 0.97x
WSE:PMF PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.62 ÷ 0.02

35.91x

* Primary Listing of Premium Fund.

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

  • Premium Fund is overvalued based on assets compared to the PL Specialty Retail industry average.
X
Value checks
We assess Premium Fund'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. Premium Fund has a total score of 0/6, 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 Premium Fund expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 Premium Fund 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
12.7%
Expected Specialty Retail industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Premium Fund expected to grow at an attractive rate?
  • Unable to compare Premium Fund's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Premium Fund's earnings growth to the Poland market average as no estimate data is available.
  • Unable to compare Premium Fund's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:PMF Future Growth Rates Data Sources
Data Point Source Value (per year)
Poland Specialty Retail Industry Earnings Growth Rate Market Cap Weighted Average 12.7%
Europe Specialty Retail Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.5%

*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:PMF Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 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:PMF Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 0 0 0
2018-09-30 0 0 0
2018-06-30 0 0 0
2018-03-31 0 0 0
2017-12-31 0 0 -1
2017-09-30 0 0 0
2017-06-30 0 0 0
2017-03-31 0 0 0
2016-12-31 3 0 0
2016-09-30 5 1 0
2016-06-30 7 0 0
2016-03-31 8 1 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Premium Fund is high growth as no earnings estimate data is available.
  • Unable to determine if Premium Fund 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:PMF Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Premium Fund Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:PMF Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 0.02
2018-09-30 0.02
2018-06-30 -0.03
2018-03-31
2017-12-31
2017-09-30
2017-06-30
2017-03-31
2016-12-31 -0.06
2016-09-30
2016-06-30
2016-03-31

*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 Premium Fund will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Check out Premium Fund's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.
  2. Premium Fund's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Retail companies here
  3. Premium Fund's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Premium Fund'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.
Premium Fund has a total score of 0/6, 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 Premium Fund 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 Premium Fund'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.
  • Premium Fund has delivered over 20% year on year earnings growth in the past 5 years.
  • Premium Fund has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Premium Fund has become profitable in the last year making it difficult to compare the PL Specialty Retail industry average.
Earnings and Revenue History
Premium Fund'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 Premium Fund Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:PMF Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 0.20 0.15 0.11
2018-09-30 0.20 0.05 0.20
2018-06-30 0.21 -0.08 0.27
2018-03-31 0.18 -0.13 0.31
2017-12-31 0.03 -0.55 0.34
2017-09-30 0.01 -0.48 0.28
2017-06-30 0.05 -0.29 0.21
2017-03-31 0.06 -0.33 0.16
2016-12-31 2.67 -0.19 0.56
2016-09-30 4.95 -0.06 0.95
2016-06-30 6.83 -0.03 1.30
2016-03-31 8.47 0.05 1.65
2015-12-31 7.39 0.07 1.53
2015-09-30 7.07 0.03 1.51
2015-06-30 6.91 -0.06 1.56
2015-03-31 6.96 -0.15 1.57
2014-12-31 6.93 -0.17 1.62
2014-09-30 6.90 -0.50 1.71
2014-06-30 6.87 -0.56 1.76
2014-03-31 6.71 -0.55 1.77
2013-12-31 6.64 -0.51 1.73
2013-09-30 6.39 -0.18 1.55
2013-06-30 6.02 -0.09 2.01
2013-03-31 5.67 -0.05 1.62
2012-12-31 5.35 0.00 1.24
2012-09-30 5.19 0.05 1.97
2012-06-30 4.89 0.01 1.05

*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.
  • Premium Fund made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • Premium Fund used its assets more efficiently than the PL Specialty Retail industry average last year based on Return on Assets.
  • Premium Fund has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Premium Fund'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.
Premium Fund has a total score of 4/6, 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 Premium Fund'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 Premium Fund's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Premium Fund is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Premium Fund has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Premium Fund'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.
  • Premium Fund has no debt, it does not need to be covered by short term assets.
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 Premium Fund Company Filings, last reported 4 months ago.

WSE:PMF Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 0.16 0.00 0.00
2018-09-30 -0.43 0.00 0.00
2018-06-30 -0.40 0.00 0.02
2018-03-31 -0.39 0.00 0.00
2017-12-31 -0.58 0.57 0.00
2017-09-30 -0.48 0.00 0.00
2017-06-30 -0.32 0.00 0.06
2017-03-31 -0.25 0.00 0.00
2016-12-31 6.51 0.15 6.75
2016-09-30 0.00 0.00 0.01
2016-06-30 -0.03 0.00 0.10
2016-03-31 0.16 0.00 0.13
2015-12-31 0.16 0.00 0.13
2015-09-30 0.07 0.33 0.07
2015-06-30 0.01 0.39 0.08
2015-03-31 0.02 0.47 0.07
2014-12-31 0.09 0.53 0.11
2014-09-30 0.04 0.53 0.11
2014-06-30 0.07 0.53 0.08
2014-03-31 0.44 0.53 0.05
2013-12-31 0.26 0.53 0.13
2013-09-30 0.54 0.53 0.11
2013-06-30 0.62 0.00 0.09
2013-03-31 0.72 0.00 0.09
2012-12-31 0.77 0.45 0.13
2012-09-30 0.72 0.00 0.10
2012-06-30 0.71 0.00 0.11
  • Premium Fund has no debt.
  • Premium Fund has no debt compared to 5 years ago when it was 200.7%.
  • Premium Fund has no debt, it does not need to be covered by operating cash flow.
  • Premium Fund has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Premium Fund'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. Premium Fund has a total score of 6/6, 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 Premium Fund'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 Premium Fund dividends.
If you bought PLN2,000 of Premium Fund 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 Premium Fund's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Premium Fund'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:PMF 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 201 Stocks 4.1%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.5%
Poland Bottom 25% Dividend Yield 25th Percentile 2.8%
Poland Top 25% Dividend Yield 75th Percentile 7.9%

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 Premium Fund has not reported any payouts.
  • Unable to verify if Premium Fund's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Premium Fund's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Premium Fund 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 Premium Fund's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 Premium Fund afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Premium Fund 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.

Management

 What is the CEO of Premium Fund'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
Izabela Galazka
CEO Bio

Izabela Galazka serves as Chairman of the Management Board at Premium Fund S.A.

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

Izabela Galazka

TITLE
Chairman of the Management Board
Board of Directors

Piotr Grabowski

TITLE
Member of the Supervisory Board

Grzegorz Fertak

TITLE
Member of the Supervisory Board

Maria Czachor-Janiq

TITLE
Member of the Supervisory Board

Marzena Kossowska-Brendota

TITLE
Member of the Supervisory Board

Joanna Kuzdak

TITLE
Member of the 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 Premium Fund'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. Premium Fund 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

The Premium Fund (WSE:PMF) Share Price Has Gained 300%, So Why Not Pay It Some Attention?

See our latest analysis for Premium Fund. … Investors will be hoping that Premium Fund can make progress and gain better traction for the business, before it runs low on cash. … Premium Fund had net debt of zł12,486 when it last reported in December 2018, according to our data.

Simply Wall St -

Why Premium Fund SA.'s (WSE:PMF) Ownership Structure Is Important

Today, I will be analyzing Premium Fund SA.’s (WSE:PMF) recent ownership structure, an important but not-so-popular subject among individual investors. … See our latest analysis for Premium Fund WSE:PMF Ownership_summary May 18th 18 General Public Ownership The general public, with 3.51% stake, is a relatively minor group of shareholders in PMF. … As a result, potential investors should further explore the company's business relations with these companies and find out if they can affect shareholder returns in the long-term.Next Steps: A large shareholding of PMF by the general public could mean higher market liquidity to buy and sell shares for retail investors, and also the potential to have more influence over company policies as a collective.

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Should You Wait Before Investing In Premium Fund SA. (WSE:PMF)?

Looking at Premium Fund’s latest financial data, I will gauge when the company may run out of cash and need to raise more money. … WSE:PMF Income Statement May 9th 18 When will Premium Fund need to raise more cash? … However, even with declining costs, the current level of cash is not enough to sustain Premium Fund’s operations and the company may need to come to market to raise more capital within the year.

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Should You Have Premium Fund SA.'s (WSE:PMF) In Your Portfolio?

If you are looking to invest in Premium Fund SA.’s (WSE:PMF), or currently own the stock, then you need to understand its beta in order to understand how it can affect the risk of your portfolio. … Generally, an investor should consider two types of risk that impact the market value of PMF. … PMF’s beta indicates it is a stock that investors may find valuable if they want to reduce the overall market risk exposure of their stock portfolio.

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Company Info

Description

Premium Fund S.A. engages in the retail sale of tobacco in Poland. The company offers a range of hand-rolled cigars, cigarillos, wooden pipes, water pipes, blotting papers, snuff, lighters, tobacco, and other smoking accessories. It operates through 10 stores in various locations, including Gdansk, Lodz, Wroclaw, Warsaw, and Szczecin of Poland. The company was formerly known as Exchange lnvest S.A. and changed its name to Premium Fund S.A. in February 2017. The company was founded in 2005 and is headquartered in Warsaw, Poland. Premium Fund S.A. is a subsidiary of Cigar Invest Sp. z o.o. Ltd.

Details
Name: Premium Fund S.A.
PMF
Exchange: WSE
Founded: 2005
PLN5,704,000
9,200,000
Website: http://www.premiumfund.pl
Address: Premium Fund S.A.
ul. Chmielna 132/134 bud. 134,
Warsaw,
00-805,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE PMF Common Bearer Shares Warsaw Stock Exchange PL PLN 18. May 2011
Number of employees
Current staff
Staff numbers
0
Premium Fund employees.
Industry
Specialty Stores
Retail
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/18 21:52
End of day share price update: 2019/05/17 00:00
Last earnings filing: 2019/03/12
Last earnings reported: 2018/12/31
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.