WSE:PMF

Stock Analysis Report

Executive Summary

Premium Fund S.A. does not have significant operations.

Rewards

Trading at 37% below its fair value

Risk Analysis

Shareholders have been substantially diluted in the past year

Makes less than USD$1m in revenue (PLN14K)

Does not have a meaningful market cap (PLN5M)

Currently unprofitable and not forecast to become profitable over the next 3 years

+ 1 more risk


Snowflake Analysis

Excellent balance sheet and slightly overvalued.

Share Price & News

How has Premium Fund's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

-18.8%

PMF

-0.6%

PL Specialty Retail

0.7%

PL Market


1 Year Return

n/a

PMF

-5.1%

PL Specialty Retail

-5.8%

PL Market

Return vs Industry: Insufficient data to determine how PMF performed against the Polish Specialty Retail industry.

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


Shareholder returns

PMFIndustryMarket
7 Day-18.8%-0.6%0.7%
30 Day32.7%2.7%3.4%
90 Day-5.5%1.5%3.6%
1 Yearn/a-3.1%-5.1%-2.8%-5.8%
3 Year52.9%52.9%-21.1%-30.9%5.8%-1.9%
5 Year52.9%52.9%-43.5%-55.3%7.4%-6.2%

Price Volatility Vs. Market

How volatile is Premium Fund's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Premium Fund undervalued compared to its fair value and its price relative to the market?

40.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PMF (PLN0.55) is trading below our estimate of fair value (PLN0.87)

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


Price To Earnings Ratio

PE vs Industry: PMF is unprofitable, so we can't compare its PE Ratio to the Specialty Retail industry average.

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


Price to Book Ratio

PB vs Industry: PMF is overvalued based on its PB Ratio (71.1x) compared to the PL Specialty Retail industry average (1.7x).


Next Steps

Future Growth

How is Premium Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

9.5%

Forecasted Retail 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 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 SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Premium Fund performed over the past 5 years?

9.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PMF is currently unprofitable.

Growing Profit Margin: PMF is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: PMF is unprofitable, but has reduced losses over the past 5 years at a rate of 9.1% per year.

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

Earnings vs Industry: PMF is unprofitable, making it difficult to compare its past year earnings growth to the Specialty Retail industry (2.5%).


Return on Equity

High ROE: PMF has a negative Return on Equity (-134.21%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Premium Fund's financial position?


Financial Position Analysis

Short Term Liabilities: PMF's short term assets (PLN11.2K) do not cover its short term liabilities (PLN40.7K).

Long Term Liabilities: PMF has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: PMF is debt free.

Reducing Debt: PMF has no debt compared to 5 years ago when its debt to equity ratio was 1246.2%.


Balance Sheet

Inventory Level: PMF has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if PMF's debt is covered by short term assets.


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

Forecast Cash Runway: PMF is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 19.9% per year.


Next Steps

Dividend

What is Premium Fund's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%2.3%markettop25%7.0%industryaverage3.2%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

High Dividend: Unable to evaluate PMF's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PMF's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PMF's dividend in 3 years as they are not forecast to pay a notable one for the Polish market.


Next Steps

Management

What is the CEO of Premium Fund's salary, the management and board of directors tenure and is there insider trading?

0.7yrs

Average board tenure


CEO

Górski Lukasz 0

0.7yrs

Tenure

0

Górski Lukasz serves as Chairman of the Management Board at Premium Fund S.A. since May 2019. 


Board Age and Tenure

0.7yrs

Average Tenure

Experienced Board: PMF's board of directors are not considered experienced ( 0.7 years average tenure), which suggests a new board.


Insider Trading

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 been substantially diluted in the past year, with total shares outstanding growing by 181.3%.


Management Team

  • Górski Lukasz

    Chairman of the Management Board

    • Tenure: 0.7yrs

Board Members

  • Wykurz Tomasz

    Member of the Supervisory Board

    • Tenure: 0.7yrs
  • Górska Natalia

    Member of the Supervisory Board

    • Tenure: 0.7yrs
  • Lasek Zbislaw

    Member of the Supervisory Board

    • Tenure: 0.7yrs
  • Górska Monika

    Member of the Supervisory Board

    • Tenure: 0.7yrs
  • Wolak Artur

    Member of the Supervisory Board

    • Tenure: 0.7yrs

Company Information

Premium Fund S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Premium Fund S.A.
  • Ticker: PMF
  • Exchange: WSE
  • Founded: 2005
  • Industry: Specialty Stores
  • Sector: Retail
  • Market Cap: zł4.784m
  • Shares outstanding: 9.20m
  • Website: https://www.premiumfund.pl

Location

  • Premium Fund S.A.
  • ul. Chmielna 132/134
  • Warsaw
  • 00-805
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PMFWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNMay 2011

Biography

Premium Fund S.A. does not have significant operations. Previously, it was involved in the retail sale of tobacco. The company was formerly known as Exchange lnvest S.A. and changed its name to Premium Fund S.A. in February 2017. Premium Fund S.A. was founded in 2005 and is based in Warsaw, Poland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/01/18 21:09
End of Day Share Price2020/01/17 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.