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Apator

WSE:APT
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
APT
WSE
PLN738M
Market Cap
  1. Home
  2. PL
  3. Tech
Company description

Apator S.A. manufactures and sells metering and switchgear equipment in Poland and internationally. The last earnings update was 23 days ago. More info.


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APT Share Price and Events
7 Day Returns
-2%
WSE:APT
-2.2%
PL Electronic
0.8%
PL Market
1 Year Returns
5%
WSE:APT
-6.6%
PL Electronic
-7.3%
PL Market
APT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Apator (APT) -2% -3.8% -2% 5% -22.2% -33.9%
PL Electronic -2.2% -4.2% -5.3% -6.6% -37.6% -48.3%
PL Market 0.8% -6.8% -7.1% -7.3% 8.5% -11.2%
1 Year Return vs Industry and Market
  • APT outperformed the Electronic industry which returned -6.6% over the past year.
  • APT outperformed the Market in Poland which returned -7.3% over the past year.
Price Volatility
APT
Industry
5yr Volatility vs Market

APT Value

 Is Apator 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 Apator 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 Apator.

WSE:APT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.2%
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:APT
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 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.046 (1 + (1- 19%) (25%))
1.173
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.17
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.85% + (1.173 * 7.14%)
11.22%

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

The calculations below outline how an intrinsic value for Apator 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:APT DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (PLN, Millions) Source Present Value
Discounted (@ 11.22%)
2019 41.40 Analyst x1 37.22
2020 55.70 Analyst x1 45.03
2021 57.30 Analyst x1 41.65
2022 60.30 Analyst x1 39.40
2023 62.97 Est @ 4.43% 37.00
2024 65.46 Est @ 3.96% 34.58
2025 67.83 Est @ 3.62% 32.22
2026 70.13 Est @ 3.39% 29.95
2027 72.40 Est @ 3.23% 27.80
2028 74.65 Est @ 3.12% 25.77
Present value of next 10 years cash flows PLN350.62
WSE:APT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= PLN74.65 × (1 + 2.85%) ÷ (11.22% – 2.85%)
PLN917.09
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= PLN917.09 ÷ (1 + 11.22%)10
PLN316.59
WSE:APT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= PLN350.62 + PLN316.59
PLN667.20
Equity Value per Share
(PLN)
= Total value / Shares Outstanding
= PLN667.20 / 29.51
PLN22.61
WSE:APT Discount to Share Price
Calculation Result
Value per share (PLN) From above. PLN22.61
Current discount Discount to share price of PLN25.00
= -1 x (PLN25.00 - PLN22.61) / PLN22.61
-10.6%

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

  • The current share price of Apator is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Apator's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Apator's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WSE:APT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in PLN PLN2.26
WSE:APT Share Price ** WSE (2019-05-22) in PLN PLN25
Poland Electronic Industry PE Ratio Median Figure of 9 Publicly-Listed Electronic Companies 9.14x
Poland Market PE Ratio Median Figure of 463 Publicly-Listed Companies 10.79x

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

** Primary Listing of Apator.

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

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

= 25 ÷ 2.26

11.05x

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

  • Apator is overvalued based on earnings compared to the PL Electronic industry average.
  • Apator is overvalued based on earnings compared to the Poland market.
Price based on expected Growth
Does Apator's expected growth come at a high price?
Raw Data
WSE:APT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.05x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
4.7%per year
Europe Electronic Industry PEG Ratio Median Figure of 73 Publicly-Listed Electronic Companies 1.64x
Poland Market PEG Ratio Median Figure of 113 Publicly-Listed Companies 0.92x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.05x ÷ 4.7%

2.36x

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

  • Apator is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Apator's assets?
Raw Data
WSE:APT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in PLN PLN15.98
WSE:APT Share Price * WSE (2019-05-22) in PLN PLN25
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:APT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 25 ÷ 15.98

1.56x

* Primary Listing of Apator.

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

  • Apator is overvalued based on assets compared to the PL Electronic industry average.
X
Value checks
We assess Apator'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. Apator 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.

APT Future Performance

 How is Apator expected to perform in the next 1 to 3 years based on estimates from 2 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
4.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Apator expected to grow at an attractive rate?
  • Apator's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Apator's earnings growth is positive but not above the Poland market average.
  • Apator's revenue growth is positive but not above the Poland market average.
Annual Growth Rates Comparison
Raw Data
WSE:APT Future Growth Rates Data Sources
Data Point Source Value (per year)
WSE:APT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 4.7%
WSE:APT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 3.6%
Poland Electronic Industry Earnings Growth Rate Market Cap Weighted Average 9.9%
Poland Electronic Industry Revenue Growth Rate Market Cap Weighted Average 12.9%
Poland Market Earnings Growth Rate Market Cap Weighted Average 10%
Poland Market Revenue Growth Rate Market Cap Weighted Average 5.4%

*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:APT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in PLN Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WSE:APT Future Estimates Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 965 132 81 1
2021-12-31 935 129 80 1
2020-12-31 908 127 77 2
2019-12-31 892 111 75 2
WSE:APT Past Financials Data
Date (Data in PLN Millions) Revenue Cash Flow Net Income *
2018-12-31 828 90 67
2018-09-30 799 105 48
2018-06-30 816 109 48
2018-03-31 850 147 39
2017-12-31 883 151 41
2017-09-30 905 147 66
2017-06-30 886 135 56
2017-03-31 865 87 58
2016-12-31 841 65 55
2016-09-30 820 46 45
2016-06-30 811 51 57
2016-03-31 779 51 56

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Apator's earnings are expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
  • Apator's revenue is expected to grow by 3.6% 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:APT 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 2 Analyst Estimates (S&P Global) See Below

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

WSE:APT Future Estimates Data
Date (Data in PLN Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 2.74 2.74 2.74 1.00
2020-12-31 2.70 2.70 2.70 1.00
2019-12-31 2.62 2.62 2.62 1.00
WSE:APT Past Financials Data
Date (Data in PLN Millions) EPS *
2018-12-31 2.26
2018-09-30 1.62
2018-06-30 1.62
2018-03-31 1.31
2017-12-31 1.39
2017-09-30 2.25
2017-06-30 1.91
2017-03-31 1.98
2016-12-31 1.85
2016-09-30 1.52
2016-06-30 1.94
2016-03-31 1.91

*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.
  • Apator is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Apator'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.
Apator has a total score of 1/6, 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.

APT Past Performance

  How has Apator 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 Apator'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.
  • Apator's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Apator's 1-year earnings growth exceeds its 5-year average (61.9% vs -9.9%)
  • Apator's earnings growth has exceeded the PL Electronic industry average in the past year (61.9% vs -5.2%).
Earnings and Revenue History
Apator'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 Apator Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WSE:APT Past Revenue, Cash Flow and Net Income Data
Date (Data in PLN Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 827.80 66.62 162.04
2018-09-30 798.96 47.79 158.27
2018-06-30 816.36 47.66 156.37
2018-03-31 850.15 38.74 161.33
2017-12-31 883.20 41.16 165.67
2017-09-30 904.62 66.28 160.54
2017-06-30 885.78 56.23 158.96
2017-03-31 865.12 58.31 148.68
2016-12-31 841.16 54.73 141.78
2016-09-30 819.91 44.95 139.35
2016-06-30 810.76 57.27 133.25
2016-03-31 778.92 56.34 133.14
2015-12-31 768.51 60.10 132.40
2015-09-30 763.61 71.98 126.72
2015-06-30 753.74 74.54 125.92
2015-03-31 752.01 83.44 122.13
2014-12-31 724.99 83.80 115.33
2014-09-30 696.88 75.16 118.36
2014-06-30 677.85 75.56 114.69
2014-03-31 669.45 71.24 111.27
2013-12-31 683.00 67.34 113.25
2013-09-30 673.58 62.34 111.26
2013-06-30 699.69 74.92 111.70
2013-03-31 673.12 91.47 110.82
2012-12-31 668.82 94.89 107.23
2012-09-30 663.67 99.65 103.06
2012-06-30 619.94 82.10 102.91

*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.
  • Apator has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Apator used its assets more efficiently than the PL Electronic industry average last year based on Return on Assets.
  • Apator has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Apator'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.
Apator has a total score of 4/6, 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.

APT Health

 How is Apator'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 Apator's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Apator is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Apator's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Apator'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 2.1x 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 Apator Company Filings, last reported 4 months ago.

WSE:APT Past Debt and Equity Data
Date (Data in PLN Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 476.98 184.43 30.79
2018-09-30 477.68 165.48 33.17
2018-06-30 465.25 170.77 33.82
2018-03-31 470.65 157.22 52.00
2017-12-31 455.50 186.89 42.91
2017-09-30 472.60 165.26 30.65
2017-06-30 455.77 154.36 39.32
2017-03-31 467.93 187.98 39.58
2016-12-31 443.28 203.81 23.72
2016-09-30 435.26 206.57 18.69
2016-06-30 426.05 218.17 51.62
2016-03-31 433.59 197.99 43.49
2015-12-31 420.96 202.16 43.69
2015-09-30 419.19 176.37 27.67
2015-06-30 401.57 170.93 30.97
2015-03-31 404.42 156.12 42.73
2014-12-31 387.55 170.79 65.73
2014-09-30 376.08 167.44 32.13
2014-06-30 353.77 143.68 28.31
2014-03-31 341.44 156.05 44.83
2013-12-31 325.41 61.95 20.97
2013-09-30 317.12 67.28 18.86
2013-06-30 292.08 38.66 17.85
2013-03-31 310.31 55.85 34.70
2012-12-31 299.59 59.21 43.72
2012-09-30 300.23 77.74 24.95
2012-06-30 263.82 63.55 17.59
  • Apator's level of debt (38.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (19.3% vs 38.7% today).
  • Debt is well covered by operating cash flow (48.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 21.8x coverage).
X
Financial health checks
We assess Apator'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. Apator 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.

APT Dividends

 What is Apator'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
5.2%
Current annual income from Apator dividends. Estimated to be 6.2% next year.
If you bought PLN2,000 of Apator 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?
  • Apator's pays a higher dividend yield than the bottom 25% of dividend payers in Poland (2.85%).
  • Apator's dividend is below the markets top 25% of dividend payers in Poland (7.92%).
Upcoming dividend payment

Purchase Apator 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:APT 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 2 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 200 Stocks 4.1%
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 7.9%

Industry and Market average data is calculated daily.

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

WSE:APT Future Dividends Estimate Data
Date (Data in PLN) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 1.60 1.00
2020-12-31 1.55 1.00
2019-12-31 1.50 1.00
WSE:APT Past Annualized Dividends Data
Date (Data in PLN) Dividend per share (annual) Avg. Yield (%)
2019-04-29 1.300 5.107
2019-02-27 1.300 4.993
2018-04-30 1.200 4.850
2018-02-27 1.200 5.191
2017-04-28 1.100 3.651
2017-02-28 1.050 3.008
2016-04-25 1.000 3.322
2016-02-25 1.000 3.557
2015-04-30 1.000 2.993
2015-02-19 1.000 2.280
2014-04-30 0.600 1.669
2014-02-19 0.600 1.585
2013-05-02 2.000 5.796
2013-02-21 2.000 6.758
2012-11-14 0.800 2.532
2012-08-31 0.800 2.778
2012-05-15 0.750 2.952
2012-04-30 0.750 3.197
2012-02-23 0.750 3.347
2011-04-29 0.600 3.337
2011-02-24 0.600 3.003
2010-05-17 0.500 2.619
2010-04-30 0.500 2.436
2010-02-25 0.500 2.423

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

  • Apator 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 Apator only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Apator's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x 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 Apator'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 Apator afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Apator 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.

APT Management

 What is the CEO of Apator'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
Miroslaw Klepacki
COMPENSATION PLN594,049
TENURE AS CEO 1.5 years
CEO Bio

Mr. Miroslaw Klepacki has been President of the Executive Board at Apator S.A. since November 16, 2017. Mr. Klepacki served as a Switchgear Equipment Director of Apator S.A. since 2010 until November 16, 2017. Mr. Klepacki is an Executive Officer of APATOR GmbH. From 2009 to 2010 he served as a Switchgear Sales Department Director at Apator S.A. From 2007 to 2009 he served as a Foreign Trade Director at Apator S.A. From 1997 to 2007 he served as a Foreign Trade Department Manager but in first half of 1997 he was Export Section Manager at Apator S.A. Mr. Klepacki graduated Electrical Department from Gdansk University of Technology. He also graduated Economic Sciences and Management Department from Nicolaus Copernicus University in Torun.

CEO Compensation
  • Insufficient data for Miroslaw to compare compensation growth.
  • Miroslaw's remuneration is higher than average for companies of similar size in Poland.
Management Team Tenure

Average tenure of the Apator management team in years:

1.5
Average Tenure
  • The average tenure for the Apator management team is less than 2 years, this suggests a new team.
Management Team

Miroslaw Klepacki

TITLE
President of the Executive Board
COMPENSATION
PLN594K
TENURE
1.5 yrs

Arkadiusz Chmielewski

TITLE
Director for Business Development of Grupa Apator & Member of Executive Board
COMPENSATION
PLN546K

Malgorzata Mazurek

TITLE
Finance Director of Proxy

Krzysztof Malec

TITLE
Chief Operating Officer
TENURE
4.3 yrs

Artur Bratkowski

TITLE
Director of the Dept. for Metering Equipment & Systems

Jolanta Dombrowska

TITLE
Director of the Office of Management & Investor Relations
TENURE
1.4 yrs
Board of Directors Tenure

Average tenure of the Apator board of directors in years:

5.9
Average Tenure
  • The tenure for the Apator board of directors is about average.
Board of Directors

Janusz Niedzwiecki

TITLE
Chairman of the Supervisory Board
COMPENSATION
PLN84K
TENURE
5.9 yrs

Mariusz Lewicki

TITLE
Deputy Chairman of the Supervisory Board
COMPENSATION
PLN216K

Marcin Murawski

TITLE
Independent Member of the Supervisory Board
COMPENSATION
PLN84K
AGE
45
TENURE
5.9 yrs

Janusz Marzyglinski

TITLE
Member of the Supervisory Board
COMPENSATION
PLN180K
TENURE
8.9 yrs

Danuta Guzowska

TITLE
Member of the Supervisory Board
COMPENSATION
PLN84K
TENURE
19.3 yrs

Kazimierz Piotrowski

TITLE
Member of the Supervisory Board
COMPENSATION
PLN156K
TENURE
3.9 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 Apator'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. Apator 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.

APT News

Simply Wall St News

What Kind Of Shareholder Owns Most Apator S.A. (WSE:APT) Stock?

(WSE:APT), then you'll have to look at the makeup of its share registry. … Taking a look at our data on the ownership groups (below), it's seems that. … Let's take a closer look to see what the different types of shareholder can tell us about APT

Simply Wall St -

Is Apator S.A.'s (WSE:APT) High P/E Ratio A Problem For Investors?

We'll apply a basic P/E ratio analysis to Apator S.A.'s (WSE:APT), to help you decide if the stock is worth further research. … Looking at earnings over the last twelve months, Apator has a P/E ratio of 11.3. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Will Apator S.A.'s (WSE:APT) Earnings Grow In The Next Couple Of Years?

The latest earnings release Apator S.A.'s (WSE:APT) announced in December 2018a … suggested

Simply Wall St -

Are Apator S.A.'s (WSE:APT) Interest Costs Too High?

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Understanding the company's financial health becomes. … The following basic checks can help you get a picture of the company's balance sheet strength.

Simply Wall St -

Can Apator S.A.'s (WSE:APT) ROE Continue To Surpass The Industry Average?

This article is for those who would like to learn about Return On Equity (ROE). … Another way to think of that is that for every PLN1 worth of equity in the company, it was able to earn PLN0.15. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should Apator S.A. (WSE:APT) Be Your Next Stock Pick?

Looking at the company as a whole, as a potential stock investment, I believe APT has a lot to offer. … is a company with great financial health as well as a. … For those interested in understanding where the figures come from and want to see the analysis,

Simply Wall St -

Estimating The Intrinsic Value Of Apator S.A. (WSE:APT)

In this article I am going to calculate the intrinsic value of Apator S.A. … by estimating the company's future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

Simply Wall St -

Is Apator S.A. (WSE:APT) An Attractive Dividend Stock?

Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. … Let's take a look at Apator in more detail. … Check out our latest analysis for Apator

Simply Wall St -

Why Apator S.A.'s (WSE:APT) High P/E Ratio Isn't Necessarily A Bad Thing

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … How Do I Calculate A Price To Earnings Ratio … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Here’s why Apator S.A.’s (WSE:APT) Returns On Capital Matters So Much

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Understanding 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 -

APT Company Info

Description

Apator S.A. manufactures and sells metering and switchgear equipment in Poland and internationally. Its products include electricity meters, such as smart, electronic, prepayment, and induction meters, as well as smart grid systems comprising remote data read out and prepayment systems; and water meters, flow meters, volume parts for heat meters, heat meters, heating cost allocators, remote reading systems, installation fittings, test and measurement products, and other products. The company also offers residential, commercial, and smart gas meters; radio telemetry modules; switchgear systems, such as current transformers, switch disconnectors, fuse rails, surge arresters, accessories, and 4G cam switches, as well as APASYS 60, a modular designed current distribution system; and mining equipment, including contactor starters, transformers units, compressor units, sensors, wireless control systems, signalization and control equipment, and other products. In addition, it provides IT solutions in the areas of grid assets, utilization of power grid assets, grid assets development, customer service, analyses and reports, process and document management, customer portals, and connectors; and IT services, such as grid passporting, integration, outsourcing, implementation, training, and consulting. Further, the company offers power and distribution engineering equipment, drives and control engineering equipment, AC and DC drives, softstarts, and motors and gears, as well as MRO and customer training services. Additionally, it provides research and development services in engineering sciences; tools and instruments for measurement, monitoring and navigation, and for other uses; thermometers and thermostats; and IT system applications. Furthermore, the company engages in IT, publishing, printing, and reproduction of recorded media; prepayment electric energy meters and gas meters; and distribution of water and heat meters. Apator S.A. is based in Torun, Poland.

Details
Name: Apator S.A.
APT
Exchange: WSE
Founded:
PLN737,675,700
29,507,028
Website: http://www.apator.com
Address: Apator S.A.
ul. Gdanska 4a,
lok C4,
Torun,
87-100,
Poland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
WSE APT Bearer Shares Warsaw Stock Exchange PL PLN 29. Apr 1997
LSE 0LR4 Bearer Shares London Stock Exchange GB PLN 29. Apr 1997
Number of employees
Current staff
Staff numbers
0
Apator employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 21:33
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/04/29
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.