WSE:TLX

Stock Analysis Report

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Executive Summary

Talex S.A. provides IT services in the field of system integration, hardware implementations, and IT projects development. More Details


Snowflake Analysis

Excellent balance sheet and fair value.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: TLX is less volatile than 75% of Polish stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: TLX's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

3.4%

TLX

-0.2%

PL IT

-0.8%

PL Market


1 Year Return

-5.1%

TLX

27.0%

PL IT

0.4%

PL Market

Return vs Industry: TLX underperformed the Polish IT industry which returned 27% over the past year.

Return vs Market: TLX underperformed the Polish Market which returned 0.4% over the past year.


Shareholder returns

TLXIndustryMarket
7 Day3.4%-0.2%-0.8%
30 Day5.7%1.7%2.5%
90 Day7.5%-1.5%16.0%
1 Year-0.4%-5.1%28.7%27.0%1.3%0.4%
3 Year-26.3%-40.1%59.6%52.0%-13.4%-18.7%
5 Year-18.5%-40.4%131.3%113.3%21.3%7.5%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TLX (PLN12.15) is trading below our estimate of fair value (PLN62.81)

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


Price To Earnings Ratio

PE vs Industry: TLX is poor value based on its PE Ratio (16.3x) compared to the PL IT industry average (13.6x).

PE vs Market: TLX is poor value based on its PE Ratio (16.3x) compared to the Polish market (13.6x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: TLX is good value based on its PB Ratio (0.7x) compared to the PL IT industry average (2.3x).


Next Steps

Future Growth

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

31.1%

Forecasted Software 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 Talex 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 Talex performed over the past 5 years?

-12.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TLX has a large one-off gain of PLN1.8M impacting its September 30 2020 financial results.

Growing Profit Margin: TLX's current net profit margins (2.4%) are lower than last year (4.6%).


Past Earnings Growth Analysis

Earnings Trend: TLX's earnings have declined by 12.7% per year over the past 5 years.

Accelerating Growth: TLX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TLX had negative earnings growth (-46.8%) over the past year, making it difficult to compare to the IT industry average (34%).


Return on Equity

High ROE: TLX's Return on Equity (4.3%) is considered low.


Next Steps

Financial Health

How is Talex's financial position?


Financial Position Analysis

Short Term Liabilities: TLX's short term assets (PLN25.9M) do not cover its short term liabilities (PLN26.2M).

Long Term Liabilities: TLX's short term assets (PLN25.9M) exceed its long term liabilities (PLN8.7M).


Debt to Equity History and Analysis

Debt Level: TLX is debt free.

Reducing Debt: TLX has no debt compared to 5 years ago when its debt to equity ratio was 29.4%.

Debt Coverage: TLX has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: TLX has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Talex current dividend yield, its reliability and sustainability?

4.94%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TLX's dividend (4.94%) is higher than the bottom 25% of dividend payers in the Polish market (1.57%).

High Dividend: TLX's dividend (4.94%) is low compared to the top 25% of dividend payers in the Polish market (5.09%).


Stability and Growth of Payments

Stable Dividend: TLX's dividend payments have been volatile in the past 10 years.

Growing Dividend: TLX's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (80.5%), TLX's payments are 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

How experienced are the management team and are they aligned to shareholders interests?

23.0yrs

Average management tenure


CEO

Janusz Gocalek 

23yrs

Tenure

zł432,000

Compensation

Mr. Janusz Gocalek  has been the President and Member of the Management Board at Talex Spolka Akcyjna since 1998. In the years 1979 to 1990, Mr. Gocalek  worked in the Institute of Building Technologies an...


Leadership Team

NamePositionTenureCompensationOwnership
Janusz Gocalek 
President of the Management Board23yrszł432.00k25.29%
PLN 9.2m
Andrzej Rózga
Vice President of the Management Board23yrszł432.00k25.29%
PLN 9.2m
Jacek Klauziski
Vice President of the Management Board23yrszł432.00k25.29%
PLN 9.2m
Rafal Szalek
Member of the Management Board14yrszł484.00k0.030%
PLN 10.8k
Radoslaw Wesolowski
Director of the Department of Financial Sector Support & Member of the Management Board10.83yrszł485.00kno data
Dorota Wójcik
Chief Accountantno datano datano data

23.0yrs

Average Tenure

Experienced Management: TLX's management team is seasoned and experienced (23 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Bogna Pilarczyk
Independent Chairman of the Supervisory Board8.83yrszł30.00kno data
Andrzej Kurc
Member of the Supervisory Board8.83yrszł24.00k0.10%
PLN 36.9k
Jacek Nowak
Independent Member of the Supervisory Board7.58yrszł24.00kno data
Malgorzata Poprawska
Independent Member of the Supervisory Board2.67yrszł24.00kno data
Witold Holubowicz
Independent Member of the Supervisory Board2.67yrszł24.00kno data

7.6yrs

Average Tenure

Experienced Board: TLX's board of directors are considered experienced (7.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

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


Key Information

  • Name: Talex S.A.
  • Ticker: TLX
  • Exchange: WSE
  • Founded: NaN
  • Industry: IT Consulting and Other Services
  • Sector: Software
  • Market Cap: zł36.451m
  • Shares outstanding: 3.00m
  • Website: https://www.talex.pl

Number of Employees


Location

  • Talex S.A.
  • ul Karpia 27D
  • Poznan
  • 61-619
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TLXWSE (Warsaw Stock Exchange)YesCommon Bearer SharesPLPLNDec 2000
0ODYLSE (London Stock Exchange)YesCommon Bearer SharesGBPLNDec 2000

Biography

Talex S.A. provides IT services in the field of system integration, hardware implementations, and IT projects development. The company primarily focuses on integration of ICT systems, IT outsourcing, and s...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/24 18:10
End of Day Share Price2021/01/22 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.