Loading...

AB

WSE:ABE
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ABE
WSE
PLN257M
Market Cap
  1. Home
  2. PL
  3. Tech
Company description

AB S.A., together with its subsidiaries, distributes computer hardware and consumer electronics primarily in Poland, the Czech Republic, and Slovakia. The last earnings update was 81 days ago. More info.


Add to Portfolio Compare Print
  • AB has significant price volatility in the past 3 months.
ABE Share Price and Events
7 Day Returns
-0.9%
WSE:ABE
-2.2%
PL Electronic
-0.4%
PL Market
1 Year Returns
-27.3%
WSE:ABE
-7.3%
PL Electronic
-6.5%
PL Market
ABE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AB (ABE) -0.9% -14.6% -23.8% -27.3% -49.6% -46.2%
PL Electronic -2.2% -5.1% -4.4% -7.3% -37.9% -48.8%
PL Market -0.4% -7.2% -7.4% -6.5% 6.8% -11.8%
1 Year Return vs Industry and Market
  • ABE underperformed the Electronic industry which returned -7.3% over the past year.
  • ABE underperformed the Market in Poland which returned -6.5% over the past year.
Price Volatility
ABE
Industry
5yr Volatility vs Market
Related Companies

Value

 Is AB 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 AB 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 AB.

WSE:ABE 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 16%
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:ABE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year PL Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 7.1%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.041 (1 + (1- 19%) (143.82%))
1.84
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.84 * 7.14%)
15.98%

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

The calculations below outline how an intrinsic value for AB 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:ABE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 15.98%)
2019 63.00 Analyst x1 54.32
2020 50.40 Analyst x2 37.47
2021 46.80 Analyst x1 29.99
2022 44.77 Est @ -4.33% 24.74
2023 43.80 Est @ -2.18% 20.87
2024 43.50 Est @ -0.67% 17.87
2025 43.67 Est @ 0.39% 15.47
2026 44.16 Est @ 1.13% 13.49
2027 44.89 Est @ 1.64% 11.82
2028 45.79 Est @ 2% 10.39
Present value of next 10 years cash flows PLN236.42
WSE:ABE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN45.79 × (1 + 2.85%) ÷ (15.98% – 2.85%)
PLN358.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN358.54 ÷ (1 + 15.98%)10
PLN81.38
WSE:ABE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN236.42 + PLN81.38
PLN317.80
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN317.80 / 16.19
PLN19.63
WSE:ABE Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN19.63
Current discount Discount to share price of PLN15.85
= -1 x (PLN15.85 - PLN19.63) / PLN19.63
19.3%

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

Current Discount
Amount off the current price AB is available for.
Intrinsic value
19%
Share price is PLN15.85 vs Future cash flow value of PLN19.63
Current Discount Checks
For AB to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • AB's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • AB'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 AB's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AB's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:ABE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN3.56
WSE:ABE Share Price ** WSE (2019-05-24) in PLN PLN15.85
Poland Electronic Industry PE Ratio Median Figure of 9 Publicly-Listed Electronic Companies 9.14x
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 AB.

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

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

= 15.85 ÷ 3.56

4.45x

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

  • AB is good value based on earnings compared to the PL Electronic industry average.
  • AB is good value based on earnings compared to the Poland market.
Price based on expected Growth
Does AB's expected growth come at a high price?
Raw Data
WSE:ABE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
2.6%per year
Europe Electronic Industry PEG Ratio Median Figure of 73 Publicly-Listed Electronic Companies 1.59x
Poland Market PEG Ratio Median Figure of 112 Publicly-Listed Companies 0.93x

*Line of best fit is calculated by linear regression .

WSE:ABE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.45x ÷ 2.6%

1.71x

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

  • AB is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on AB's assets?
Raw Data
WSE:ABE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN47.21
WSE:ABE Share Price * WSE (2019-05-24) in PLN PLN15.85
Poland Electronic Industry PB Ratio Median Figure of 18 Publicly-Listed Electronic Companies 1.26x
Poland Market PB Ratio Median Figure of 689 Publicly-Listed Companies 0.97x
WSE:ABE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 15.85 ÷ 47.21

0.34x

* Primary Listing of AB.

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

  • AB is good value based on assets compared to the PL Electronic industry average.
X
Value checks
We assess AB'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 Electronic 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 Electronic industry average (and greater than 0)? (1 check)
  5. AB has a total score of 3/6, 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 AB expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

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
2.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AB expected to grow at an attractive rate?
  • AB's earnings growth is positive but not above the low risk savings rate of 2.9%.
Growth vs Market Checks
  • AB's earnings growth is positive but not above the Poland market average.
  • AB's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:ABE Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:ABE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 2.6%
WSE:ABE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 2.7%
Poland Electronic Industry Earnings Growth Rate Market Cap Weighted Average 9.9%
Poland Electronic Industry Revenue Growth Rate Market Cap Weighted Average 12.5%
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:ABE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months 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:ABE Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 9,174 63 1
2020-06-30 8,668 65 59 3
2019-06-30 8,599 69 58 2
WSE:ABE Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 8,436 18 58
2018-09-30 8,249 -14 60
2018-06-30 8,237 70 61
2018-03-31 8,433 12 62
2017-12-31 8,481 110 65
2017-09-30 8,263 169 67
2017-06-30 8,278 -5 68
2017-03-31 8,284 38 69
2016-12-31 8,136 121 68
2016-09-30 7,923 -35 66
2016-06-30 7,553 -69 65
2016-03-31 7,094 -20 65

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AB's earnings are expected to grow by 2.6% yearly, however this is not considered high growth (20% yearly).
  • AB's revenue is expected to grow by 2.7% 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:ABE 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 3 Analyst Estimates (S&P Global) See Below

All data from AB Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:ABE Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 3.86 3.86 3.86 1.00
2020-06-30 3.73 3.78 3.68 2.00
2019-06-30 3.50 3.50 3.50 1.00
WSE:ABE Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 3.56
2018-09-30 3.69
2018-06-30 3.77
2018-03-31 3.81
2017-12-31 3.99
2017-09-30 4.11
2017-06-30 4.19
2017-03-31 4.27
2016-12-31 4.22
2016-09-30 4.06
2016-06-30 3.99
2016-03-31 4.00

*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 AB will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess AB'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 Poland 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.
AB 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 AB 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 AB's growth in the last year to its industry (Electronic).
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.
  • AB's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • AB's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • AB's 1-year earnings growth is negative, it can't be compared to the PL Electronic industry average.
Earnings and Revenue History
AB'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 AB Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:ABE 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 8,435.78 57.64 244.93
2018-09-30 8,248.60 59.73 243.81
2018-06-30 8,236.56 60.95 241.65
2018-03-31 8,432.90 61.61 228.03
2017-12-31 8,481.07 64.57 223.04
2017-09-30 8,262.59 66.53 222.86
2017-06-30 8,278.02 67.85 227.75
2017-03-31 8,284.50 69.14 242.64
2016-12-31 8,136.37 68.37 243.78
2016-09-30 7,922.74 65.68 236.76
2016-06-30 7,553.07 64.60 222.29
2016-03-31 7,094.40 64.72 201.61
2015-12-31 7,080.01 65.86 192.97
2015-09-30 6,803.59 66.36 179.31
2015-06-30 6,793.16 68.39 176.38
2015-03-31 6,782.19 66.62 180.04
2014-12-31 6,438.13 63.71 169.46
2014-09-30 5,997.19 59.35 167.34
2014-06-30 5,758.18 57.30 161.35
2014-03-31 5,546.93 54.34 147.02
2013-12-31 5,553.12 49.91 151.38
2013-09-30 5,563.26 45.45 135.66
2013-06-30 5,430.43 41.67 139.35
2013-03-31 5,092.64 39.95 136.89
2012-12-31 4,739.03 42.05 129.69
2012-09-30 4,520.76 46.90 138.03
2012-06-30 4,342.49 47.72 135.21

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

Health

 How is AB'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 AB's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AB is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • AB's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of AB'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 5.7x 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 AB Company Filings, last reported 4 months ago.

WSE:ABE Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 764.30 369.01 108.62
2018-09-30 738.09 347.32 124.35
2018-06-30 718.82 394.53 115.26
2018-03-31 714.75 422.91 72.20
2017-12-31 704.77 505.61 246.84
2017-09-30 676.13 357.50 162.78
2017-06-30 663.75 412.37 79.00
2017-03-31 639.90 399.87 54.38
2016-12-31 629.01 404.44 50.45
2016-09-30 598.76 388.78 46.35
2016-06-30 584.42 336.06 26.80
2016-03-31 572.51 426.73 66.03
2015-12-31 554.78 456.58 20.50
2015-09-30 535.52 337.67 61.35
2015-06-30 519.82 292.53 95.12
2015-03-31 499.66 320.20 43.02
2014-12-31 490.33 338.44 75.48
2014-09-30 476.60 125.77 74.12
2014-06-30 463.89 194.56 46.03
2014-03-31 451.98 247.23 25.15
2013-12-31 440.19 289.75 60.35
2013-09-30 437.11 197.28 18.17
2013-06-30 420.68 211.34 12.48
2013-03-31 409.29 287.65 14.13
2012-12-31 408.61 320.26 21.39
2012-09-30 391.82 259.78 22.40
2012-06-30 382.10 199.89 16.46
  • AB's level of debt (48.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (65.7% vs 48.3% today).
  • Debt is not well covered by operating cash flow (4.9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.4x coverage).
X
Financial health checks
We assess AB'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. AB 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.

Dividends

 What is AB'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
0%
Current annual income from AB dividends. Estimated to be 5.77% next year.
If you bought PLN2,000 of AB shares you are expected to receive PLN0 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?
  • Unable to evaluate AB's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate AB's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:ABE 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 Electronic Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 6.3%
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:ABE Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2021-06-30 1.10 1.00
2020-06-30 0.85 3.00
2019-06-30 0.93 1.00
WSE:ABE Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2018-05-14 0.000 0.000
2018-02-28 0.000 0.000
2017-11-21 0.000 0.000
2017-09-11 0.000 0.000
2016-09-19 0.000 0.000
2016-05-16 0.700 2.388
2015-08-31 0.700 2.060
2015-05-15 0.700 1.734
2014-09-17 0.700 1.994
2012-11-12 0.000 0.000
2012-08-30 0.000 0.000
2011-10-31 0.000 0.000
2011-05-16 0.300 1.389
2010-11-02 0.300 1.199
2010-08-30 0.300 1.404
2010-05-17 0.270 1.602
2009-11-02 0.270 1.783

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

  • Unable to perform a dividend volatility check as AB has not reported any payouts.
  • Unable to verify if AB's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of AB's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as AB has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.9x coverage).
X
Income/ dividend checks
We assess AB'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 AB afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AB has a total score of 1/6, 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 AB'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
Andrzej Przybylo
COMPENSATION PLN0
CEO Bio

Mr. Andrzej Przybylo serves as the President and Member of Management Board at AB Spólka Akcyjna. Mr. Przybylo is a Founder of A&B and has been its President of the Board since 1998. He ran A&B from 1990 to 1996. His professional career has always been related to IT and business. He serves as Chairman of the Supervisory Board AT Computers Holding a s. He serves as a Member of Supervisory Board of ALSEN Sp z o.o., a subsidiary of AB SA with a headquarter in Katowice. He graduated from the Faculty of Mathematics, Physics and Chemistry Faculty at the University of Wroclaw.

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

Andrzej Przybylo

TITLE
President of the Management Board

Grzegorz Ochêdzan

TITLE
CFO & Member of the Management Board

Zbigniew Madry

TITLE
Sales Director
TENURE
21.3 yrs

Krzysztof Kucharski

TITLE
Director of Corporate & Legal Matters and Member of the Management Board

Danuta Uzarska

TITLE
Chief Accountant

Aleš Kilnar

TITLE
President of Mgmt Board - AT Computers Holding AS & AT Computers AS

Janusz Zdebel

TITLE
President of the Management Board - Alsen Sp z o o

Stanislav Heža

TITLE
President of the Management Board - Comfort Stores a s
Board of Directors

Iwona Przybylo

TITLE
Chairperson of the Supervisory Board

Jacek Lapinski

TITLE
Member of the Supervisory Board
TENURE
20.3 yrs

Jerzy Baranowski

TITLE
Member of the Supervisory Board

Jakub Biegunski

TITLE
Member of the Supervisory Board

Marek Cwir

TITLE
Member of the Supervisory Board

Andrzej Grabinski

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 AB'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. AB 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

AB S.A. (WSE:ABE): Time For A Financial Health Check

On top of this, ABE has generated cash from operations of zł18m during the same period of time, leading to an operating cash to total debt ratio of 4.9%, signalling that ABE’s debt is not covered by operating cash. … With current liabilities at zł1.4b, it seems that the business has maintained a safe level of current assets to meet its obligations, with the current ratio last standing at 1.48x. … Next Steps: Although ABE’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 -

Calculating The Intrinsic Value Of AB S.A. (WSE:ABE)

by taking the expected future cash flows and discounting them to their present value. … I will use the Discounted Cash Flow (DCF) model! … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Do You Know What AB S.A.'s (WSE:ABE) P/E Ratio Means?

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … AB has a price to earnings ratio of 5.39, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Did You Manage To Avoid AB's (WSE:ABE) 44% Share Price Drop?

After all, the share price is down 44% in the last three years, significantly under-performing the market. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During the three years that the share price fell, AB's earnings per share (EPS) dropped by 4.3% each year.

Simply Wall St -

Are AB S.A.’s (WSE:ABE) Returns On Investment Worth Your While?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

AB S.A. (WSE:ABE): Does The Earnings Decline Make It An Underperformer?

Today I will assess ABE's recent performance announced on 30 September 2018 and compare these figures to its long-term trend and industry movements. … Was ABE's recent earnings decline indicative of a tough track record. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 3.5%, indicating the rate at which ABE is growing has slowed down

Simply Wall St -

How Much Of AB S.A. (WSE:ABE) Do Insiders Own?

Generally speaking, as a company grows, institutions will increase their ownership. … Our analysis of the ownership of the company, below, shows that. … We can zoom in on the different ownership groups, to learn more about ABE

Simply Wall St -

Is AB SA's (WSE:ABE) P/E Ratio Really That Good?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at AB SA's (WSE:ABE) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

AB SA (WSE:ABE): Assessing Capital Returns

Owing to this, it is important that the underlying business is producing a sufficient amount of income from the capital invested by stockholders. … This is because the actual cash flow generated by the business dictates the potential for income (dividends) and capital appreciation (price increases), which are the two ways to achieve positive returns when buying a stock. … Thus, to understand how your money can grow by investing in AB, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

Does AB SA's (WSE:ABE) -10% Earnings Drop Reflect A Longer Term Trend?

Today I will run you through a basic sense check to gain perspective on how AB is doing by comparing its latest earnings with its long-term trend as well as the performance of its electronic industry peers. … Was ABE's recent earnings decline worse than the long-term trend and the industry. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 5.6%, indicating the rate at which ABE is growing has slowed down

Simply Wall St -

Company Info

Description

AB S.A., together with its subsidiaries, distributes computer hardware and consumer electronics primarily in Poland, the Czech Republic, and Slovakia. The company also trades in computer software and household appliances, as well as telecommunications, multimedia, and electronic equipment; produces personal computers; and engages in the retail trade of computer hardware. In addition, it provides computer hardware assembly and repair, as well as other IT services; and logistics services. The company was founded in 1990 and is based in Magnice, Poland.

Details
Name: AB S.A.
ABE
Exchange: WSE
Founded: 1990
PLN256,574,157
16,187,644
Website: http://www.ab.pl
Address: AB S.A.
ul. Europejska 4,
Magnice,
55-040,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE ABE Common Bearer Shares Warsaw Stock Exchange PL PLN 21. Sep 2006
Number of employees
Current staff
Staff numbers
0
AB employees.
Industry
Technology Distributors
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/24 21:00
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/03/04
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


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.