Loading...

Asseco Business Solutions

WSE:ABS
Snowflake Description

Outstanding track record with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ABS
WSE
PLN962M
Market Cap
  1. Home
  2. PL
  3. Software
Company description

Asseco Business Solutions S.A. develops and deploys business management software in Poland and internationally. The last earnings update was 28 days ago. More info.


Add to Portfolio Compare Print
ABS Share Price and Events
7 Day Returns
2.1%
WSE:ABS
-1.6%
PL Software
1.5%
PL Market
1 Year Returns
15.2%
WSE:ABS
5.1%
PL Software
-5%
PL Market
ABS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Asseco Business Solutions (ABS) 2.1% 0.7% -2.4% 15.2% 51.6% 145.3%
PL Software -1.6% -6.2% -8.1% 5.1% -11.6% 34.8%
PL Market 1.5% -5.9% -5.4% -5% 8.4% -9.9%
1 Year Return vs Industry and Market
  • ABS outperformed the Software industry which returned 5.1% over the past year.
  • ABS outperformed the Market in Poland which returned -5% over the past year.
Price Volatility
ABS
Industry
5yr Volatility vs Market

Value

 Is Asseco Business Solutions 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 Asseco Business Solutions 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 Asseco Business Solutions.

WSE:ABS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.9%
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:ABS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Software Unlevered Beta Simply Wall St/ S&P Global 1.15
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.149 (1 + (1- 19%) (5.06%))
1.131
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.131 * 7.14%)
10.93%

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

The calculations below outline how an intrinsic value for Asseco Business Solutions 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:ABS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 10.93%)
2019 75.58 Est @ 10.44% 68.13
2020 81.74 Est @ 8.16% 66.43
2021 87.11 Est @ 6.57% 63.82
2022 91.86 Est @ 5.45% 60.67
2023 96.15 Est @ 4.67% 57.25
2024 100.12 Est @ 4.13% 53.74
2025 103.87 Est @ 3.74% 50.26
2026 107.48 Est @ 3.47% 46.89
2027 111.01 Est @ 3.29% 43.66
2028 114.51 Est @ 3.16% 40.60
Present value of next 10 years cash flows PLN551.46
WSE:ABS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN114.51 × (1 + 2.85%) ÷ (10.93% – 2.85%)
PLN1,458.34
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN1,458.34 ÷ (1 + 10.93%)10
PLN517.04
WSE:ABS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN551.46 + PLN517.04
PLN1,068.50
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN1,068.50 / 33.42
PLN31.97
WSE:ABS Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN31.97
Current discount Discount to share price of PLN28.80
= -1 x (PLN28.80 - PLN31.97) / PLN31.97
9.9%

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

Current Discount
Amount off the current price Asseco Business Solutions is available for.
Intrinsic value
10%
Share price is PLN28.8 vs Future cash flow value of PLN31.97
Current Discount Checks
For Asseco Business Solutions to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Asseco Business Solutions's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Asseco Business Solutions's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Asseco Business Solutions's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Asseco Business Solutions's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:ABS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in PLN PLN1.89
WSE:ABS Share Price ** WSE (2019-05-23) in PLN PLN28.8
Poland Software Industry PE Ratio Median Figure of 18 Publicly-Listed Software Companies 12.58x
Poland Market PE Ratio Median Figure of 463 Publicly-Listed Companies 10.75x

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

** Primary Listing of Asseco Business Solutions.

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

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

= 28.8 ÷ 1.89

15.21x

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

  • Asseco Business Solutions is overvalued based on earnings compared to the PL Software industry average.
  • Asseco Business Solutions is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does Asseco Business Solutions's expected growth come at a high price?
Raw Data
WSE:ABS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.21x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
-0.8%per year
Europe Software Industry PEG Ratio Median Figure of 81 Publicly-Listed Software Companies 2.1x
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 Asseco Business Solutions, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Asseco Business Solutions's assets?
Raw Data
WSE:ABS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in PLN PLN9.24
WSE:ABS Share Price * WSE (2019-05-23) in PLN PLN28.8
Poland Software Industry PB Ratio Median Figure of 26 Publicly-Listed Software Companies 1.23x
Poland Market PB Ratio Median Figure of 689 Publicly-Listed Companies 0.97x
WSE:ABS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 28.8 ÷ 9.24

3.12x

* Primary Listing of Asseco Business Solutions.

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

  • Asseco Business Solutions is overvalued based on assets compared to the PL Software industry average.
X
Value checks
We assess Asseco Business Solutions'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 Software 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 Software industry average (and greater than 0)? (1 check)
  5. Asseco Business Solutions 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 Asseco Business Solutions expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

  • No analysts cover Asseco Business Solutions, 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
-0.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Asseco Business Solutions expected to grow at an attractive rate?
  • Asseco Business Solutions's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Asseco Business Solutions's earnings are expected to decrease over the next 1-3 years, this is below the Poland market average.
  • Asseco Business Solutions's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:ABS Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:ABS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts -0.8%
WSE:ABS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 3%
Poland Software Industry Earnings Growth Rate Market Cap Weighted Average 2.2%
Europe Software Industry Revenue Growth Rate Market Cap Weighted Average 7.9%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10.1%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*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:ABS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:ABS Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 280 1
2020-12-31 277 3
2019-12-31 273 1
WSE:ABS Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2019-03-31 257 84 63
2018-12-31 255 80 63
2018-09-30 253 82 60
2018-06-30 249 76 56
2018-03-31 227 74 51
2017-12-31 213 64 50
2017-09-30 190 53 45
2017-06-30 178 51 46
2017-03-31 175 50 45
2016-12-31 169 49 42
2016-09-30 166 52 41
2016-06-30 160 51 38

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Asseco Business Solutions's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Asseco Business Solutions's revenue is expected to grow by 3% yearly, however this is not considered high growth (20% yearly).
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:ABS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Asseco Business Solutions Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:ABS Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
WSE:ABS Past Financials Data
Date (Data in PLN Millions) EPS *
2019-03-31 1.89
2018-12-31 1.87
2018-09-30 1.80
2018-06-30 1.69
2018-03-31 1.54
2017-12-31 1.50
2017-09-30 1.36
2017-06-30 1.38
2017-03-31 1.36
2016-12-31 1.27
2016-09-30 1.23
2016-06-30 1.14

*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 Asseco Business Solutions will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Asseco Business Solutions'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.
Asseco Business Solutions 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 Asseco Business Solutions 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 Asseco Business Solutions's growth in the last year to its industry (Software).
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.
  • Asseco Business Solutions's year on year earnings growth rate has been positive over the past 5 years.
  • Asseco Business Solutions's 1-year earnings growth exceeds its 5-year average (23% vs 18.1%)
  • Asseco Business Solutions's earnings growth has exceeded the PL Software industry average in the past year (23% vs 16.1%).
Earnings and Revenue History
Asseco Business Solutions'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 Asseco Business Solutions Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:ABS Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 256.86 63.27 32.44
2018-12-31 254.69 62.57 32.70
2018-09-30 253.30 60.17 35.96
2018-06-30 248.51 56.36 37.18
2018-03-31 226.54 51.45 34.65
2017-12-31 212.79 50.13 32.54
2017-09-30 190.44 45.38 26.67
2017-06-30 177.61 46.13 22.87
2017-03-31 175.41 45.47 22.04
2016-12-31 168.76 42.45 21.30
2016-09-30 166.05 40.97 20.92
2016-06-30 160.41 37.97 20.13
2016-03-31 156.07 35.76 20.04
2015-12-31 151.83 33.51 19.96
2015-09-30 150.45 32.44 19.75
2015-06-30 146.92 30.36 20.00
2015-03-31 142.98 29.00 19.40
2014-12-31 145.02 28.57 18.84
2014-09-30 151.34 28.57 18.39
2014-06-30 150.03 28.35 17.71
2014-03-31 151.41 27.81 18.57
2013-12-31 145.99 26.83 17.49
2013-09-30 134.48 26.27 12.86
2013-06-30 135.34 26.61 13.42
2013-03-31 135.68 26.43 13.27
2012-12-31 139.30 26.53 15.00
2012-09-30 148.12 26.38 21.35
2012-06-30 147.51 25.77 20.90

*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.
  • Asseco Business Solutions has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Asseco Business Solutions used its assets more efficiently than the PL Software industry average last year based on Return on Assets.
  • Asseco Business Solutions has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Asseco Business Solutions'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 Software 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.
Asseco Business Solutions has a total score of 6/6, 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 Asseco Business Solutions'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 Asseco Business Solutions's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Asseco Business Solutions is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Asseco Business Solutions's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Asseco Business Solutions'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 1.3x 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 Asseco Business Solutions Company Filings, last reported 1 month ago.

WSE:ABS Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 308.81 48.68 17.03
2018-12-31 298.53 19.54 12.80
2018-09-30 279.61 32.20 2.45
2018-06-30 265.38 54.10 8.46
2018-03-31 294.38 23.17 13.32
2017-12-31 279.66 32.40 8.01
2017-09-30 262.86 54.20 5.89
2017-06-30 256.29 65.32 9.72
2017-03-31 288.41 0.00 79.25
2016-12-31 275.01 0.00 70.46
2016-09-30 262.96 0.00 56.61
2016-06-30 251.78 0.00 47.05
2016-03-31 276.28 0.00 72.38
2015-12-31 265.90 0.00 65.92
2015-09-30 255.39 0.00 49.99
2015-06-30 247.21 0.00 40.21
2015-03-31 268.78 0.00 62.37
2014-12-31 260.65 0.00 57.48
2014-09-30 251.46 0.00 45.39
2014-06-30 245.36 0.00 37.96
2014-03-31 266.73 0.00 58.84
2013-12-31 259.04 0.00 54.73
2013-09-30 249.62 0.00 44.64
2013-06-30 243.75 0.00 37.73
2013-03-31 265.33 0.00 56.53
2012-12-31 258.61 0.00 48.54
2012-09-30 249.75 0.00 33.83
2012-06-30 243.53 0.00 31.31
  • Asseco Business Solutions's level of debt (15.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 15.8% today).
  • Debt is well covered by operating cash flow (173.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 73.8x coverage).
X
Financial health checks
We assess Asseco Business Solutions'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. Asseco Business Solutions 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.

Dividends

 What is Asseco Business Solutions'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
5.21%
Current annual income from Asseco Business Solutions dividends. Estimated to be 6.42% next year.
If you bought PLN2,000 of Asseco Business Solutions shares you are expected to receive PLN104 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?
  • Asseco Business Solutions's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.82%).
  • Asseco Business Solutions's dividend is below the markets top 25% of dividend payers in Poland (7.86%).
Upcoming dividend payment

Purchase Asseco Business Solutions before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:ABS 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 3 Analyst Estimates (S&P Global) See Below
Poland Software Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 5.7%
Poland Market Average Dividend Yield Market Cap Weighted Average of 200 Stocks 4.2%
Poland Minimum Threshold Dividend Yield 10th Percentile 1.4%
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.

WSE:ABS Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.06 1.00
2020-12-31 1.99 1.00
2019-12-31 1.50 1.00
WSE:ABS Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2019-02-27 1.500 5.121
2018-04-26 1.300 4.957
2018-03-06 1.300 4.630
2017-04-27 1.270 4.585
2017-03-03 1.270 4.662
2016-04-27 1.000 4.551
2016-03-02 1.000 5.529
2015-08-04 0.850 5.740
2015-04-28 0.850 6.010
2015-03-03 0.850 5.766
2014-11-05 0.800 6.129
2014-08-06 0.800 6.832
2014-05-08 0.800 6.979
2014-03-06 0.800 6.399
2014-03-05 0.800 6.750
2013-08-07 0.790 6.350
2013-05-08 0.790 7.002
2013-03-04 0.790 7.013
2012-08-13 0.960 9.866
2012-05-07 0.960 10.640
2012-03-07 0.960 9.080
2011-08-17 0.900 9.207
2011-05-04 0.900 7.954
2011-03-09 0.900 7.053
2010-08-19 0.750 6.650
2010-05-05 0.750 8.256
2010-03-11 0.750 7.533

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

  • Asseco Business Solutions 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 Asseco Business Solutions only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Asseco Business Solutions's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1x coverage).
X
Income/ dividend checks
We assess Asseco Business Solutions'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 Asseco Business Solutions afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Asseco Business Solutions 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 Asseco Business Solutions'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
Wojciech Barczentewicz
COMPENSATION PLN5,160,000
TENURE AS CEO 6.8 years
CEO Bio

Mr. Wojciech Barczentewicz has been the President of the Management Board at Asseco Business Solutions SA since July 2,2012 and serves as its Member of Management Board. Mr. Barczentewicz served as a Vice-President of the Management Board at Asseco Business Solutions SA since October 2008. From 1988 to 1990 he conducted his own company. From 1992 to 1993 he was Managing Director of Edmar company and from 1993 to 1994 he was Managing Director at Sewo-Bau. Since 1991 he was a co-partner of Anica System. In 1995 he became President of Management Board in Anica System company and was responsible for Strategic Management. Since 1991 he served as a Director of Anica System. Mr. Barczentewicz is a graduate of High School of Art in Naleczów and completed “Management 2000” managerial skills development program in Canadian International Management Institute.

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

Average tenure of the Asseco Business Solutions management team in years:

6.8
Average Tenure
  • The average tenure for the Asseco Business Solutions management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Wojciech Barczentewicz

TITLE
President of the Management Board
COMPENSATION
PLN5M
TENURE
6.8 yrs

Piotr Maslowski

TITLE
Vice President of the Management Board
COMPENSATION
PLN5M
TENURE
10.6 yrs

Andreas Enders

TITLE
Vice-President of the Management Board
COMPENSATION
PLN2M
TENURE
4.3 yrs

Mariusz Lizon

TITLE
Member of the Management Board
COMPENSATION
PLN3M
Board of Directors

Jozef Klein

TITLE
Chairman of the Supervisory Board

Adam Góral

TITLE
Vice Chairman of the Supervisory Board

Adam Pawlowicz

TITLE
Member of the Supervisory Board
AGE
56

Zbigniew Pomianek

TITLE
Member of the Supervisory Board

Romuald Rutkowski

TITLE
Member of Supervisory Board
TENURE
6.8 yrs

Grzegorz Ogonowski

TITLE
Member of Supervisory Board
TENURE
7.6 yrs

Piotr Stepniak

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 Asseco Business Solutions'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. Asseco Business Solutions 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

Why I Like Asseco Business Solutions S.A. (WSE:ABS)

Help shape the future of investing tools and you could win a $250 gift card! … (WSE:ABS) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects.

Simply Wall St -

Asseco Business Solutions S.A. (WSE:ABS): Has Recent Earnings Growth Beaten Long-Term Trend?

Understanding how Asseco Business Solutions S.A. … Today I will run you through a basic sense check to gain perspective on how Asseco Business Solutions is doing by comparing its latest earnings with its long-term trend as well as the performance of its software industry peers. … View our latest analysis for Asseco Business Solutions?

Simply Wall St -

Here's Why We Think Asseco Business Solutions (WSE:ABS) Is Well Worth Watching

So if you're like me, you might be more interested in profitable, growing companies, like Asseco Business Solutions (WSE:ABS). … Asseco Business Solutions's Earnings Per Share Are Growing. … Asseco Business Solutions maintained stable EBIT margins over the last year, all while growing revenue 20% to zł255m.

Simply Wall St -

What Does Asseco Business Solutions S.A.'s (WSE:ABS) P/E Ratio Tell You?

We'll show how you can use Asseco Business Solutions S.A.'s (WSE:ABS) P/E ratio to inform your assessment of the investment opportunity. … Asseco Business Solutions has a price to earnings ratio of 15.92, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

The Asseco Business Solutions (WSE:ABS) Share Price Is Down -151% So Some Shareholders Are Getting Worried

(WSE:ABS) share price has soared 151% in the last half decade. … 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). … Over half a decade, Asseco Business Solutions managed to grow its earnings per share at 18% a year.

Simply Wall St -

How Does Asseco Business Solutions S.A. (WSE:ABS) Fare As A Dividend Stock?

Historically, Asseco Business Solutions S.A. … Let's take a look at Asseco Business Solutions in more detail. … View our latest analysis for Asseco Business Solutions

Simply Wall St -

Asseco Business Solutions S.A. (WSE:ABS) Delivered A Better ROE Than Its Industry

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 PLN0.22 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Investors Are Undervaluing Asseco Business Solutions S.A. (WSE:ABS) By 35.09%

by projecting its future cash flows and then discounting them to today's value. … discounted cash flows (DCF) … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model.

Simply Wall St -

Should You Like Asseco Business Solutions S.A.’s (WSE:ABS) High Return On Capital Employed?

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 is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

What Kind Of Shareholder Appears On The Asseco Business Solutions S.A.'s (WSE:ABS) Shareholder Register?

A look at the shareholders of Asseco Business Solutions S.A. … With a market capitalization of zł949m, Asseco Business Solutions is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for Asseco Business Solutions

Simply Wall St -

Company Info

Description

Asseco Business Solutions S.A. develops and deploys business management software in Poland and internationally. Its products include Asseco Softlab ERP, an enterprise resource planning software, which supports various business areas, such as logistics and sales, production, finance and accounting, human resources and payroll, procurement, fixed assets, high-storage warehouse, business intelligence, and others; Asseco Softlab HR, a HRM system that offers tools for the management of human resources, and handles personnel affairs and settlements; and Connector Platform, a solutions to support management of business data transfer between the manufacturers and their business partners. The company’s products also comprise Asseco Softlab WMS and Asseco Safo WMS 2.0, which are warehouse management solutions; Mobile Touch SFA 2.0 platform that offers sales force automation and retail execution services; and factoring systems to manage the entire factoring transaction processes. In addition, it offers CDP Systems that are multi-level and multi-layer central data processing systems used for the business digitalization of the company; Asseco WAPRO ERP, a software for the management of small and medium-sized enterprises; and services related to the development of system infrastructures, virtualization of IT environment, and cloud computing, as well as provides outsourcing services to support clients in the maintenance of their information systems. The company is headquartered in Lublin, Poland. Asseco Business Solutions S.A. is a subsidiary of Asseco Enterprise Solutions a.s.

Details
Name: Asseco Business Solutions S.A.
ABS
Exchange: WSE
Founded:
PLN962,443,958
33,418,193
Website: http://www.assecobs.pl
Address: Asseco Business Solutions S.A.
4c Konrada Wallenroda Street,
Lublin,
20-607,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE ABS Common Bearer Shares Warsaw Stock Exchange PL PLN 19. Nov 2007
LSE 0ODO Common Bearer Shares London Stock Exchange GB PLN 19. Nov 2007
Number of employees
Current staff
Staff numbers
0
Asseco Business Solutions employees.
Industry
Systems Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 21:27
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/04/30
Last earnings filing: 2019/04/25
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.