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A.P.N. Promise

WSE:PRO
Snowflake Description

Undervalued with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PRO
WSE
PLN30M
Market Cap
  1. Home
  2. PL
  3. Software
Company description

A.P.N. Promise S.A. provides IT solutions, products, and services to various business entities and individual customers in Poland. The last earnings update was 99 days ago. More info.


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PRO Share Price and Events
7 Day Returns
0%
WSE:PRO
0.8%
PL IT
-0.4%
PL Market
1 Year Returns
-20.6%
WSE:PRO
17.7%
PL IT
-6.5%
PL Market
PRO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
A.P.N. Promise (PRO) 0% 5.9% - -20.6% -44.9% -20.6%
PL IT 0.8% 2.1% 14% 17.7% 33.8% 47.2%
PL Market -0.4% -7.2% -7.4% -6.5% 6.8% -11.8%
1 Year Return vs Industry and Market
  • PRO underperformed the IT industry which returned 17.7% over the past year.
  • PRO underperformed the Market in Poland which returned -6.5% over the past year.
Price Volatility
PRO
Industry
5yr Volatility vs Market

PRO Value

 Is A.P.N. Promise 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 A.P.N. Promise 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 A.P.N. Promise.

WSE:PRO 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:PRO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
IT Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.046 (1 + (1- 19%) (122.01%))
1.724
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.72
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.724 * 7.14%)
15.16%

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

The calculations below outline how an intrinsic value for A.P.N. Promise 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:PRO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 15.16%)
2019 48.43 Est @ 99.56% 42.06
2020 82.60 Est @ 70.55% 62.29
2021 124.10 Est @ 50.24% 81.26
2022 168.80 Est @ 36.02% 95.98
2023 212.81 Est @ 26.07% 105.08
2024 253.47 Est @ 19.1% 108.67
2025 289.53 Est @ 14.23% 107.80
2026 320.84 Est @ 10.81% 103.73
2027 347.87 Est @ 8.43% 97.66
2028 371.37 Est @ 6.75% 90.53
Present value of next 10 years cash flows PLN895.06
WSE:PRO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN371.37 × (1 + 2.85%) ÷ (15.16% – 2.85%)
PLN3,102.95
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN3,102.95 ÷ (1 + 15.16%)10
PLN756.46
WSE:PRO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN895.06 + PLN756.46
PLN1,651.52
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN1,651.52 / 10.50
PLN157.28
WSE:PRO Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN157.28
Current discount Discount to share price of PLN2.86
= -1 x (PLN2.86 - PLN157.28) / PLN157.28
98.2%

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

Current Discount
Amount off the current price A.P.N. Promise is available for.
Intrinsic value
>50%
Share price is PLN2.86 vs Future cash flow value of PLN157.28
Current Discount Checks
For A.P.N. Promise to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • A.P.N. Promise's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • A.P.N. Promise's share price is below the future cash flow value, and 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 A.P.N. Promise's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are A.P.N. Promise's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:PRO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN0.64
WSE:PRO Share Price ** WSE (2019-05-16) in PLN PLN2.86
Poland IT Industry PE Ratio Median Figure of 21 Publicly-Listed IT Companies 8.82x
Poland Market PE Ratio Median Figure of 462 Publicly-Listed Companies 10.61x

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

** Primary Listing of A.P.N. Promise.

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

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

= 2.86 ÷ 0.64

4.47x

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

  • A.P.N. Promise is good value based on earnings compared to the PL IT industry average.
  • A.P.N. Promise is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does A.P.N. Promise's expected growth come at a high price?
Raw Data
WSE:PRO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.47x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-1.6%per year
Europe IT Industry PEG Ratio Median Figure of 84 Publicly-Listed IT Companies 1.5x
Poland Market PEG Ratio Median Figure of 112 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 A.P.N. Promise, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on A.P.N. Promise's assets?
Raw Data
WSE:PRO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN3.15
WSE:PRO Share Price * WSE (2019-05-16) in PLN PLN2.86
Poland IT Industry PB Ratio Median Figure of 30 Publicly-Listed IT Companies 1.19x
Poland Market PB Ratio Median Figure of 689 Publicly-Listed Companies 0.97x
WSE:PRO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 2.86 ÷ 3.15

0.91x

* Primary Listing of A.P.N. Promise.

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

  • A.P.N. Promise is good value based on assets compared to the PL IT industry average.
X
Value checks
We assess A.P.N. Promise'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 IT 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 IT industry average (and greater than 0)? (1 check)
  5. A.P.N. Promise has a total score of 5/6, 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.

PRO Future Performance

 How is A.P.N. Promise expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover A.P.N. Promise, 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
-1.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is A.P.N. Promise expected to grow at an attractive rate?
  • A.P.N. Promise'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
  • A.P.N. Promise's earnings are expected to decrease over the next 1-3 years, this is below the Poland market average.
  • Unable to compare A.P.N. Promise's revenue growth to the Poland market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
WSE:PRO Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:PRO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -1.6%
Poland IT Industry Earnings Growth Rate Market Cap Weighted Average 11.8%
Europe IT Industry Revenue Growth Rate Market Cap Weighted Average 5.5%
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:PRO 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:PRO Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 534 26 7
2018-09-30 493 -1 4
2018-06-30 478 23 6
2018-03-31 446 -1 9
2017-12-31 438 -1 7
2017-09-30 402 2 7
2017-06-30 394 -4 7
2017-03-31 408 -16 2
2016-12-31 396 0 2
2016-09-30 413 3 7
2016-06-30 413 -9 7
2016-03-31 380 10 8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • A.P.N. Promise's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if A.P.N. Promise 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:PRO 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 A.P.N. Promise Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:PRO Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 0.64
2018-09-30 0.37
2018-06-30 0.56
2018-03-31 0.84
2017-12-31 0.71
2017-09-30 0.70
2017-06-30 0.73
2017-03-31 0.23
2016-12-31 0.25
2016-09-30 0.69
2016-06-30 0.75
2016-03-31 0.88

*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 A.P.N. Promise will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess A.P.N. Promise'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.
A.P.N. Promise 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.

PRO Past Performance

  How has A.P.N. Promise 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 A.P.N. Promise's growth in the last year to its industry (IT).
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.
  • A.P.N. Promise's year on year earnings growth rate has been positive over the past 5 years.
  • A.P.N. Promise's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • A.P.N. Promise's 1-year earnings growth is negative, it can't be compared to the PL IT industry average.
Earnings and Revenue History
A.P.N. Promise'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 A.P.N. Promise Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:PRO Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 534.09 6.71 442.65
2018-09-30 493.27 3.91 268.81
2018-06-30 478.01 5.93 197.99
2018-03-31 445.70 8.51 78.01
2017-12-31 437.94 7.21 21.74
2017-09-30 402.02 7.06 25.83
2017-06-30 393.60 7.40 28.26
2017-03-31 407.87 2.31 36.28
2016-12-31 396.00 2.50 35.76
2016-09-30 413.50 7.02 30.12
2016-06-30 412.86 7.13 25.39
2016-03-31 379.76 8.30 19.61
2015-12-31 352.58 9.27 14.65
2015-09-30 348.83 5.42 13.48
2015-06-30 350.60 4.24 12.53
2015-03-31 328.26 3.42 12.05
2014-12-31 324.60 3.34 11.48
2014-09-30 296.66 3.21 12.92
2014-06-30 266.07 2.95 11.94
2014-03-31 248.75 2.83 11.78
2013-12-31 246.11 2.67 11.85
2013-09-30 230.07 1.73 9.80
2013-06-30 213.69 1.66 12.52
2013-03-31 213.90 1.73 9.91
2012-12-31 209.49 1.84 7.73

*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.
  • A.P.N. Promise has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • A.P.N. Promise used its assets less efficiently than the PL IT industry average last year based on Return on Assets.
  • A.P.N. Promise's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess A.P.N. Promise'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 IT 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.
A.P.N. Promise 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.

PRO Health

 How is A.P.N. Promise'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 A.P.N. Promise's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • A.P.N. Promise is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • A.P.N. Promise's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of A.P.N. Promise'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 6.2x 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 A.P.N. Promise Company Filings, last reported 4 months ago.

WSE:PRO Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 33.68 36.64 44.38
2018-09-30 29.65 39.60 6.34
2018-06-30 30.48 26.07 5.22
2018-03-31 27.67 2.69 2.95
2017-12-31 28.45 22.80 9.18
2017-09-30 28.11 28.28 4.13
2017-06-30 27.23 39.95 2.67
2017-03-31 25.88 34.75 6.83
2016-12-31 27.55 16.34 11.96
2016-09-30 28.39 25.77 6.38
2016-06-30 28.41 29.61 8.32
2016-03-31 31.69 10.63 6.74
2015-12-31 30.88 7.08 12.34
2015-09-30 20.02 23.51 4.74
2015-06-30 17.88 17.17 2.56
2015-03-31 16.18 16.32 2.17
2014-12-31 15.36 8.52 29.95
2014-09-30 8.50 22.84 0.71
2014-06-30 13.41 16.30 1.75
2014-03-31 12.89 15.02 0.82
2013-12-31 12.15 0.60 17.87
2013-09-30 10.73 1.53 13.66
2013-06-30
2013-03-31
2012-12-31 9.64 1.01 9.17
  • A.P.N. Promise's level of debt (108.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (6.3% vs 108.8% today).
  • Debt is well covered by operating cash flow (69.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 27.6x coverage).
X
Financial health checks
We assess A.P.N. Promise'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. A.P.N. Promise has a total score of 4/6, 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.

PRO Dividends

 What is A.P.N. Promise'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
8.04%
Current annual income from A.P.N. Promise dividends.
If you bought PLN2,000 of A.P.N. Promise shares you are expected to receive PLN161 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?
  • A.P.N. Promise's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.86%).
  • A.P.N. Promise's dividend is above the markets top 25% of dividend payers in Poland (7.82%).
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:PRO 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
Poland IT Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 2%
Poland Market Average Dividend Yield Market Cap Weighted Average of 201 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 7.8%

Industry and Market average data is calculated daily.

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

WSE:PRO Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2018-08-13 0.230 7.189
2018-05-28 0.230 6.895
2017-06-01 0.470 10.860
2017-02-15 0.470 9.783

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

  • A.P.N. Promise has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • A.P.N. Promise has only been paying a dividend for 2 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of A.P.N. Promise's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x 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 A.P.N. Promise'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 A.P.N. Promise afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. A.P.N. Promise has a total score of 3/6, see the detailed checks below.


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

PRO Management

 What is the CEO of A.P.N. Promise'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
Piotr Paszczyk
TENURE AS CEO 11.2 years
CEO Bio

Mr. Piotr Tomasz Paszczyk has been President of The Management Board at APN Promise Spólka Akcyjna since Mach 2008. Mr. Paszczyk has been a Member of The Management Board at APN Promise Spólka Akcyjna since 1998. He serves as Secretary of The Supervisory Board at Sevenet S.A. He has been a Member of the Supervisory Board of Sevenet S.A. since August 3, 2015. He is graduate in Mathematics, Computer Science and Mechanics from the Warsaw University.

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

Piotr Paszczyk

TITLE
President of the Management Board
TENURE
11.2 yrs

Tomasz Bator

TITLE
Vice President of the Management Board
TENURE
6.8 yrs

Monika Zawistowska

TITLE
Secretary of the Supervisory Board and Member of the Supervisory Board
Board of Directors Tenure

Average tenure of the A.P.N. Promise board of directors in years:

4.9
Average Tenure
  • The tenure for the A.P.N. Promise board of directors is about average.
Board of Directors

Jacek Rzezniczek

TITLE
Chairman of the Supervisory Board
TENURE
8.2 yrs

Tomasz Lotz

TITLE
Vice Chairman of the Supervisory Board

Monika Zawistowska

TITLE
Secretary of the Supervisory Board and Member of the Supervisory Board
TENURE
6.8 yrs

Adam Car

TITLE
Member of the Supervisory Board
AGE
38
TENURE
2.9 yrs

Marzenna Paszczyk

TITLE
Member of the Supervisory Board
AGE
71
TENURE
2.8 yrs
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 A.P.N. Promise'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. A.P.N. Promise 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.

PRO News

Simply Wall St News

What You Should Know About A.P.N. Promise S.A.'s (WSE:PRO) Financial Strength

PRO’s Debt (And Cash Flows) PRO has built up its total debt levels in the last twelve months, from zł23m to zł37m – this includes long-term debt. … On top of this, PRO has produced zł26m in operating cash flow over the same time period, resulting in an operating cash to total debt ratio of 70%, indicating that PRO’s debt is appropriately covered by operating cash. … Next Steps: Although PRO’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised.

Simply Wall St -

Here's What A.P.N. Promise S.A.'s (WSE:PRO) P/E Ratio Is Telling Us

Promise S.A.'s (WSE:PRO) P/E ratio and reflect on what it tells us about the company's share price. … How Do I Calculate A Price To Earnings Ratio. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

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Does A.P.N. Promise S.A.'s (WSE:PRO) -6.9% Earnings Drop Reflect A Longer Term Trend?

Below, I will assess PRO's latest performance announced on 31 December 2018 and weight these figures against its longer term trend and industry movements. … PRO's trailing twelve-month earnings (from 31 December 2018) of zł6.7m has. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 14%, indicating the rate at which PRO is growing has slowed down

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How Did A.P.N. Promise S.A.'s (WSE:PRO) 20% ROE Fare Against The Industry?

This article is for those who would like to learn about Return On Equity (ROE). … One way to conceptualize this, is that for each PLN1 of shareholders' equity it has, the company made PLN0.20 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Is A.P.N. Promise S.A. (WSE:PRO) A Great Dividend Stock?

Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … (WSE:PRO) has paid a dividend to shareholders in the last few years. … 5 checks you should use to assess a dividend stock

Simply Wall St -

The A.P.N. Promise Share Price Is Down 54% So Some Shareholders Are Wishing They Sold

(WSE:PRO) shareholders have had that experience, with the share price dropping 54% in three years, versus a market return of about 25%. … While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.

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Can We See Significant Insider Ownership On The A.P.N. Promise S.A. (WSE:PRO) Share Register?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Promise is a small cap stock, so it might not be well known by many institutional investors. … Taking a look at the our data on the ownership groups (below), it's seems that.

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Is A.P.N. Promise S.A.'s (WSE:PRO) ROE Of 13% Impressive?

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every PLN1 worth of shareholders' equity, it generated PLN0.13 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Despite Its High P/E Ratio, Is APN Promise SA (WSE:PRO) Still Undervalued?

To keep it practical, we'll show how APN Promise SA's (WSE:PRO) P/E ratio could help you assess the value on offer. … Promise has a price to earnings ratio of 10.74, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

What Investors Should Know About APN Promise SA's (WSE:PRO) Financial Strength

Investors are always looking for growth in small-cap stocks like APN Promise SA (WSE:PRO), with a market cap of zł34m. … However, an important fact which most ignore is: how financially healthy is the business? … Assessing first and foremost the financial health is

Simply Wall St -

PRO Company Info

Description

A.P.N. Promise S.A. provides IT solutions, products, and services to various business entities and individual customers in Poland. The company supports for the long-term licensing agreements and optimization of software use in companies; designs, implements, and maintains information systems; monitors and optimizes IP networks; and creates applications and company portals. It offers its services to the finance, telecommunications, media, energy, production, trade and services, and public administration, as well as educational units and health service sectors. The company was founded in 1991 and is headquartered in Warsaw, Poland.

Details
Name: A.P.N. Promise S.A.
PRO
Exchange: WSE
Founded: 1991
PLN30,031,961
10,500,686
Website: http://www.apnpromise.pl
Address: A.P.N. Promise S.A.
ul. Domaniewska 44a,
Warsaw,
02-672,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE PRO Common Bearer Shares Warsaw Stock Exchange PL PLN 07. Feb 2013
Number of employees
Current staff
Staff numbers
0
A.P.N. Promise employees.
Industry
IT Consulting and Other Services
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 21:43
End of day share price update: 2019/05/16 00:00
Last earnings filing: 2019/02/14
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.