WSE:PRO

Stock Analysis Report

Executive Summary

A.P.N. Promise S.A. provides IT solutions, products, and services to various business entities and individual customers in Poland.

Snowflake

Fundamentals

Good value with adequate balance sheet.

Share Price & News

How has A.P.N. Promise's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-5.6%

PRO

3.5%

PL IT

1.2%

PL Market


1 Year Return

-49.1%

PRO

22.2%

PL IT

-3.7%

PL Market

Return vs Industry: PRO underperformed the Polish IT industry which returned 22.2% over the past year.

Return vs Market: PRO underperformed the Polish Market which returned -3.7% over the past year.


Shareholder returns

PROIndustryMarket
7 Day-5.6%3.5%1.2%
30 Day-11.9%-0.2%-2.9%
90 Day-24.8%7.5%-6.8%
1 Year-44.2%-49.1%24.0%22.2%-0.8%-3.7%
3 Year-50.1%-61.2%32.9%27.1%11.5%3.5%
5 Year-29.9%-49.7%62.7%52.7%-0.9%-12.9%

Price Volatility Vs. Market

How volatile is A.P.N. Promise's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is A.P.N. Promise undervalued compared to its fair value and its price relative to the market?

29.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: PRO (PLN1.7) is trading below our estimate of fair value (PLN2.4)

Significantly Undervalued: PRO is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: PRO is good value based on its PE Ratio (2.7x) compared to the IT industry average (8.7x).

PE vs Market: PRO is good value based on its PE Ratio (2.7x) compared to the Polish market (9.9x).


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate PRO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PRO is good value based on its PB Ratio (0.6x) compared to the PL IT industry average (1.5x).


Next Steps

Future Growth

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

8.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PRO's forecast earnings growth (8% per year) is above the savings rate (2.9%).

Earnings vs Market: PRO's earnings (8% per year) are forecast to grow slower than the Polish market (10.7% per year).

High Growth Earnings: PRO's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if PRO's revenue is forecast to grow faster than the Polish market.

High Growth Revenue: Insufficient data to determine if PRO's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if PRO's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has A.P.N. Promise performed over the past 5 years?

11.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PRO's earnings have grown by 11.8% per year over the past 5 years.

Accelerating Growth: PRO's earnings growth over the past year (25.2%) exceeds its 5-year average (11.8% per year).

Earnings vs Industry: PRO earnings growth over the past year (25.2%) underperformed the IT industry 27.2%.


Return on Equity

High ROE: PRO's Return on Equity (20.7%) is considered high.


Return on Assets

ROA vs Industry: PRO's Return on Assets is below or equal to the IT industry average last year.


Return on Capital Employed

ROCE Improving: PRO's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is A.P.N. Promise's financial position?


Financial Position Analysis

Short Term Liabilities: PRO's short term assets (PLN148.0M) exceeds its short term liabilities (PLN136.2M)

Long Term Liabilities: PRO's short term assets (148.0M) exceeds its long term liabilities (524.4K)


Debt to Equity History and Analysis

Debt Level: PRO's debt to equity ratio (82.9%) is considered high

Reducing Debt: PRO's debt to equity ratio has reduced from 122.6% to 82.9% over the past 5 years.

Debt Coverage: PRO's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: PRO's interest payments on its debt are well covered by EBIT (15.6x coverage).


Balance Sheet

Inventory Level: PRO has a high level of physical assets or inventory.

Debt Coverage by Assets: PRO's debt is covered by short term assets (assets are 4.930320x debt).


Next Steps

Dividend

What is A.P.N. Promise's current dividend yield, its reliability and sustainability?

10.59%

Current Dividend Yield


Dividend Yield vs Market

company10.6%marketbottom25%2.6%markettop25%7.2%industryaverage1.8%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: PRO's dividend (10.59%) is higher than the bottom 25% of dividend payers in the Polish market (2.56%).

High Dividend: PRO's dividend (10.59%) is in the top 25% of dividend payers in the Polish market (7.2%)

Stable Dividend: PRO has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: PRO has only been paying a dividend for 3 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (28.1%), PRO's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of A.P.N. Promise's salary, the management and board of directors tenure and is there insider trading?

5.3yrs

Average board tenure


CEO

Piotr Paszczyk 0

11.6yrs

Tenure

0

Mr. Piotr Tomasz Paszczyk has been President of The Management Board at APN Promise Spólka Akcyjna since March 31, 2008. Mr. Paszczyk has been a Member of The Management Board at APN Promise Spólka Akcyjna ...


Board Age and Tenure

5.3yrs

Average Tenure

Experienced Board: PRO's board of directors are considered experienced (5.3 years average tenure).


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


Management Team

  • Piotr Paszczyk

    President of the Management Board

    • Tenure: 11.6yrs
  • Monika Zawistowska

    Secretary of the Supervisory Board and Member of the Supervisory Board

    • Tenure: 7.3yrs
  • Pawel Kolakowski

    Member of the Management Board

    • Tenure: 0.3yrs

Board Members

  • Tomasz Lotz

    Vice Chairman of the Supervisory Board

    • Tenure: 0yrs
  • Jacek Rzezniczek

    Chairman of the Supervisory Board

    • Tenure: 8.6yrs
  • Monika Zawistowska

    Secretary of the Supervisory Board and Member of the Supervisory Board

    • Tenure: 7.3yrs
  • Adam Car (39yo)

    Member of the Supervisory Board

    • Tenure: 3.3yrs
  • Marzenna Paszczyk (72yo)

    Member of the Supervisory Board

    • Tenure: 3.3yrs

Company Information

A.P.N. Promise S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: A.P.N. Promise S.A.
  • Ticker: PRO
  • Exchange: WSE
  • Founded: 1991
  • Industry: IT Consulting and Other Services
  • Sector: Software
  • Market Cap: zł19.701m
  • Shares outstanding: 11.59m
  • Website: https://www.apnpromise.pl

Location

  • A.P.N. Promise S.A.
  • ul. Domaniewska 44a
  • Warsaw
  • 02-672
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PROWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNFeb 2013

Biography

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 optimizati ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 21:21
End of Day Share Price2019/10/15 00:00
Earnings2019/06/30
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.